TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9314 | GBP 5.7496 |
| USD 4.6821 | CHF 5.9961 |
| BGD 2.5214 | MDL 0.2409 |
BNR INTEREST RATES
| Deposit facility: | 5.75% |
| Policy rate: | 6.75% |
| Lending facility: | 7.75% |
INFLATION RATE
| 16.76% (Nov. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.81%, BET-TR -0.81%, BET-FI 0.30%, BET-NG -0.39%, BET-XT -0.53%, BETXT-TR -0.53%, BET-BK -0.11%, RO-TX -0.73%, BETAeRO 0.22% |
CAPITAL MARKET COMMENTARY
| Most Bucharest stock indices closed lower on Tuesday, bucking the trend across Europe where markets were higher. Banca Transilvania, Romania’s largest bank by assets, led the blue-chip decliners as the lender’s shares plunged 2.35% to close at 20.8000 points. |
TODAY’S NEWS
POLITICS
13:44 The Chamber of Deputies adopted, on Tuesday (Dec. 13), as a decision-making body, the draft law regulating the tip, establishing that its level will be a maximum of 15% of the bill, it will be possible to pay it by card and it will be taxed, Agerpres reported.
10:42 Minister of Foreign Affairs Bogdan Aurescu discussed on Monday (Dec. 12), in Brussels, with the Federal Minister for European and International Affairs of Austria, Alexander Schallenberg, about Romania’s accession to the Schengen Area, following Austria’s negative vote at the JHA Council on December 8, according to the Romanian Ministry of Foreign Affairs (MAE).
09:12 President Klaus Iohannis said in a press statement held at the Cotroceni Palace on Monday (Dec. 12) that he was “upset and disappointed” with the fact that Romania did not obtain all the votes in order to join the Schengen area and mentioned that he is determined to take things “further” until our country becomes a member of the free trade area.
ECONOMY
12:01 The average net salary gain was 4,008 RON (round 813 euros) in October up by 5 RON (+0.1%, around 1 euro) compared to September, INS data showed. The highest values were registered in information technology service activities (9427 RON).
11:36 ING Bank analysts say that November’s record high inflation and faster services price growth will likely force the National Bank of Romania to raise its key interest rate to 7% in January 2023.
09:41 The annual inflation rate in Romania increased to 16.76% in November from 15.32% in October, due to the rise in the price of food products by 21.55%, non-food products by 16.17% and services by 9.51%, National Institute of Statistics showed.
09:30 Romania’s finance ministry raised almost RON1 billion on Monday (Dec. 12) through two government bond issues, at annual average yields of 7.05% and 7.48%, National Bank of Romania data showed.
09:28 Romania will benefit from 221 million Swiss francs, based on a framework agreement, signed on Monday at the Cotroceni Palace, which will operationalize the second Swiss financial contribution to reduce economic and social disparities in the Union European, Agerpres reported.
COMPANIES & BUSINESS
13:52 The majority of employers in Romania (97%) say that the flexible working schedule is one of the most desired benefits by employees, while two out of three top companies offer benefits related to this aspect, a survey based on centralized data by Mindspace shows.
13:43 Cooperativa Tara Mea, the largest agricultural cooperative in Romania, started from Tuesday (Dec. 13) started the procedures to stop any partnerships with Austrian companies, including banks, bank accounts, salary transfers and fuel supply for the company’s vehicles, according to a press release from the organization.
12:31 More than 60% of Romanian companies requested taxation services, 30% were interested in budget construction and price strategy services and only 10% of SMEs used the implementation of financial instruments, such as the Business Simulator, according to Trusted Advisor Strategy & Finance data.
09:41 Romanian Post, Romania’s state-owned postal operator, has inaugurated its first subsidiary abroad on Monday (Dec. 12), in Chisinau, Moldova.
09:39 Romanians spent EUR261 million in the top ten footwear store chains in Romania in 2021. The amount is 6.5% lower than in the benchmark year 2019, according to Ziarul Financiar’s calculations based on Cushman & Wakefield Echinox data.
SOCIETY
09:43 As many as 66,204 people, including 7,144 Ukrainian nationals, entered Romania on Monday (Dec. 12) down 8% from the previous day, according to the General Border Police Inspectorate (IGPF).
MORE NEWS FROM ROMANIA
CLUJ-NAPOCA
The tender of 125 million lei for the supervision of the works on the metro in Cluj has been cancelled, Ziua de Cluj reported.
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