TODAY’S NEWS
ECONOMY
-Romania is forecast to grow by only 1.8% in 2023, the European Bank for Reconstruction and Development said. The projection was downwardly revised from an initial 2.5% one in May.
-Bucharest’s land market has remained active over the past 12 months in terms of acquisitions made by residential, logistics and retail real estate developers by particularly targeting the former industrial platforms within the capital, according to Cushman & Wakefield Echinox data.
-The total value traded through the Bucharest Stock Exchange (BVB) in the first 8 months exceeds the yearly record high from 2022, BVB said.
POLITICS
Prime Minister Marcel Ciolacu said Tuesday that the Government will massively increase fines, confiscate on a large scale the proceeds of tax evasion and will tax by 70 percent all illicit wealth, Agerpres reported.
COMPANIES
-The Bucharest National Airports Company (CNAB) has launched a tender worth RON 117.6 million (EUR 23.7 million) for the design, technical assistance and execution of works for the modernization of the existing terminals and buildings at Henri Coandă International Airport Bucharest.
-Greece’s PPC Renewables, a subsidiary of PPC S.A. that is wrapping up the agreed takeover of Enel’s entire portfolio in Romania, is en route to taking over the wind farms operated by Russia-headquartered Lukoil Group, as well, Economica.net reported.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9743 | GBP 5.7209 |
| USD 4.7112 | CHF 5.1393 |
| BGN 2.5433 | MDL 0.2584 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.95%, BET-TR 0.50%, BET-FI 0.34%, BET-NG -1.12%, BET-XT -0.69%, BETXT-TR 0.50%, BET-BK 0.08%, RO-TX 0.77%, BETAeRO 0.51% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded mixed on Wednesday as European markets declined with investors continuing to assess inflation, interest rates and the health of the world economy. |
