ECONOMY
-Romanian authorities issued 3,002 residential building permits in October 2023, down 2.6% m-o-m and down 8.8% y-o-y, the National Institute of Statistics (INS) data showed.
-Romanian executives forecast a period of stability for the activity in the manufacturing industry, retail trade and services sectors in November 2023-January 2024, a survey conducted by the INS reveals.
-Private lending in Romania increased by 5% in nominal terms (down 2.8% in real terms) to RON381.8 billion last month compared to October 2022, the National Bank of Romania (BNR) data showed.
COMPANIES
-The number of foreigners who will be able to come to work in Romania next year is likely to reach 140,000, up 40% from the threshold admitted for 2023, namely 100,000, according to local online recruiting platform eJobs.
CAPITAL MARKETS
Banca Transilvania (TLV.RO) financial group has again tapped international markets, raising EUR500 million via MREL (minimum requirement for own fund and eligible liabilities) bonds due in five years at a 7.25% coupon, Ziarul Financiar reported.
REAL ESTATE
-Seven out of 10 real estate developers in Romania present a major insolvency risk amid rising challenges generated by falling real estate sales and hiked taxes, an analysis conducted by consulting firm Frames reveals.
-Industrial and logistics projects accounting for more than half a million sq.m are currently under construction in Romania and due to be delivered by the end of 2024, 60% of which being already pre-leased, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9726 | GBP 5.7463 |
| USD 4.5313 | CHF 5.1634 |
| BGN 2.5424 | MDL 0.2543 |
(Source: National Bank of Romania BNR, as of Nov.29, 2023)
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.17%, BET-TR 0.15%, BET-FI -0.61%, BET-NG 0.68%, BET-XT 0.08%, BETXT-TR 0.07%, BET-BK -0.02%, RO-TX -0.47%, BETAeRO -0.32% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded mixed on Wednesday (Nov. 29). There is no trading on Nov. 30, in observance of Saint Andrew’s Day (the patron saint of Romania) and on Dec. 1. National Day, also known as Great Union Day. |
