TODAY’S NEWS
ECONOMY & COMPANIES
-Almost three-quarters of Romanian companies (71.4%) surveyed have started implementing the cloud technology either for several departments or for specific processes, and intend wider adoption over the next two years, a local report based on the PwC Central and Eastern Europe (CEE) Cloud Business Survey reveals.
–Romanian executives for the May-July 2023 period project rising activity in constructions and retail, in parallel with higher prices in these fields, but also in the processing industry, a survey by the National Institute of Statistics showed.
–Banca Transilvania, the largest bank in Romania, wants to grow only in Romania, with a focus on organic growth, without mulling foreign expansion, Ziarul Financiar reported.
–Italian banking giant UniCredit and Mastercard announced the global expansion of their payments partnership through an agreement that targets 13 subsidiaries of the bank across 12 markets, including Romania, for all card products, totaling 20 million cards.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9580 | GBP 5.7110 |
| USD 4.6276 | CHF 4.1206 |
| BGN 2.5350 | MDL 0.2588 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 11.2% (April 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.06%, BET-TR 0.06%, BET-FI -0.16%, BET-NG 0.05%, BET-XT 0.04%, BETXT-TR 0.04%, BET-BK -0.06%, RO-TX -0.05%, BETAeRO -0.31% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded mixed on the first trading day of the week as rest of Europe closed lower. Markets are preparing for the preliminary Eurozone inflation data from May, set to be released on Thursday. The race to materialize the United States leaders’ agreement to avoid a government default and a world economic disaster is also expected to dominate headlines during this week. |
