ECONOMY
-Romania remained 14th in the European Union in terms of new car registrations in (110,711 units) in January-September 2023, up 16.2% y-o-y, 11,759 of which full electric and 32,597 hybrid cars, data from Romania’s and Europe’s carmaker associations (ACAROM and ACEA) showed.
-Italy’s UniCredit S.p.A and Greece’s Alpha Services and Holdings S.A. have announced a strategic partnership that includes merging their Romanian subsidiaries, UniCredit Romania and Alpha Bank Romania. The merger is set for completion by 2024.
-Bucharest, Brasov and Arad will add more than 580 rooms under international hotel brands in 2024, Ziarul Financiar reported.
-Romania’s Finance Ministry raised RON326 million from banks on Thursday, selling treasury bills maturing in July 2034, at an annual average yield of 7.22%, the National Bank of Romania (BNR) data showed.
-Employers have put more than 62,000 part-time jobs on the market in January-October 2023, up 10% y-o-y, even though part-time jobs are still subject to the same taxation as the minimum wage, according to eJobs, the largest recruitment platform in Romania.
-Capping trade taxes for basic foodstuffs, extended for 90 days, while nine other products, namely minced meat, garlic, rice, tomato juice, sponge cake, margarine, yeast, cream and pears, will be added to the list, according to a draft Government Emergency Ordinance posted on the website of the Ministry of Agriculture and Rural Development (MADR).
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9724 | GBP 5.7029 |
| USD 4.6940 | CHF 5.2568 |
| BGN 2.5423 | MDL 0.2579 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.32%, BET-TR 0.34%, BET-FI 1.12%, BET-NG 0.36%, BET-XT 0.41%, BETXT-TR 0.42%, BET-BK 0.27%, RO-TX 0.56%, BETAeRO –0.18% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the green on Monday but investors continue to monitor the developments on the geopolitical front and assessing world economic situation. They also awaited the European Central Bank’s monetary policy announcement due later in the week. |
