TODAY’S NEWS
ECONOMY
-State-owned Romanian CEC Bank climbed to 4th place in the ranking of the largest banks in Romania by assets at the end of the first half of 2023, from 6th place at the end of 2022, overtaking ING Bank and Raiffeisen Bank, thanks to robust rise of its stock of loans, Ziarul Financiar reported.
-The elimination of tax breaks in the IT sector is speeding up a crisis already felt on the labour market, and competition between candidates will increase even more, according to an analysis by online recruitment platform Bestjobs. Taxing incomes over a gross RON10,000, a measure expected to be implemented this autumn, puts pressure on recruitment and may prompt employers to lean towards younger candidates who fall within the non-taxable salary limit, the analysis shows.
-Romania’s Finance Ministry raised RON 60 billion from banks on Thursday (September 28), selling government paper at annual average yields of 6.97%.
POLITICS
Romania seeks to take over Moldova’s sole port, Giurgiulesti (on the Danube), Romanian PM Marcel Ciolacu told Digi24.
COMPANIES
Romgaz, the largest natural gas producer in Romania, will continue its investments at the Caragele deposit, Buzau county, for another two years, where it will begin digging new deep wells in the coming months, in order to see the “geological truth of this project” considered a priority by the company, the director general of Romgaz, Razvan Popescu told the Central – European Congress of Natural Gas on Thursday.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9746 | GBP 5.7433 |
| USD 4.6864 | CHF 5.1446 |
| BGN 2.5434 | MDL 0.2600 |
(Source: National Bank of Romania BNR)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.87%, BET-TR 0.86%, BET-FI 0.96%, BET-NG 0.97%, BET-XT 0.89%, BETXT-TR 0.88%, BET-BK 1.25%, RO-TX 0.92%, BETAeRO 0.85% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks headed into the weekend higher in line with rest of Europe. Traders seemed to be in a good mood throughout the day, likely due to the recent inflation data in the Eurozone which was at the lowest level for the past 23 months. |
