TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9286 | GBP 5.7329 |
| USD 4.6664 | CHF 5.0039 |
| BGD 2.5199 | MDL 0.2408 |
BNR INTEREST RATES
| Deposit facility: | 5.75% |
| Policy rate: | 6.75% |
| Lending facility: | 7.75% |
INFLATION RATE
| 15.32% (Oct. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.38%, BET-TR -0.38%, BET-FI -0.80%, BET-NG -0.02%, BET-XT -0.41%, BETXT-TR -0.41%, BET-BK -0.56%, RO-TX -0.38%, BETAeRO -0.56% |
CAPITAL MARKET COMMENTARY
| Bucharest stock indices kicked off the new trading week in the red in line with most other European major bourses which traded in negative territory with investors nervously awaiting U.S. Federal Reserve, Bank of England, European Central Bank and the Swiss National Bank rate decisions this week. |
TODAY’S NEWS
POLITICS
14:39 The Romanian Parliament adopted in a joint plenary meeting on Monday (Dec. 12) a declaration encouraging the full and equal participation of women in Romania in the development, funding and implementing of relevant programmes, initiatives and public policies.
09:30 On Monday, Romania’s President Klaus Iohannis will receive the President of the Swiss Confederation, Ignazio Cassis, at the Cotroceni Palace, the two heads of state following to discuss the current status and proposals for strengthening bilateral relations and economic and sectoral cooperation, with an emphasis on boosting investments and identifying new areas of collaboration, Agerpres reported.
09:23 Romania’s minister of Foreign Affairs, Bogdan Aurescu, will participate, on Monday (Dec. 12), in Brussels, in the meeting of the heads of diplomacy from the EU member states – the Foreign Affairs Council (FAC), according to the Ministry of Foreign Affairs (MAE).
09:14 The Minister of Agriculture and Rural Development, Petre Daea, participates, on Dec. 11-12, in the meeting of the Agriculture and Fisheries Council (AGRIFISH) in Brussels.
09:03 Romania belongs to the Schengen area!,’ Manfred Weber, head of the Group of the European People’s Party (PPE) in the European Parliament and of the PPE, wrote in a post on Facebook on Sunday (Dec. 11).
ECONOMY
14:29 Romania started the winter period with over 3 billion cubic meters of gas in storage, all the necessary measures being implemented so that end consumers do not have problems in the supply of energy and natural gas, regardless of the temperature, according to Dan Dragan, secretary of state in the Ministry of Energy.
11:36 Romania ranks last in the EU in terms of VAT collection, once again recording the largest VAT gap from the total amount that should be collected, estimated at 35.5%, according to the recently published report of the European Commission (EC), which uses data for 2020, Daniel Anghel, partner, leader of Tax&Legal PwC Romania said in a document sent to Agerpres on Monday.
10:20 Romania’s FOB/CIF ten-month trade balance deficit grew by over 9 billion euros compared to the same period last year and reached 28.405 billion euros, National Institute of Statistics (INS) data showed.
10:14 The banking industry is not only offering loans to make a profit, but is also the financier of Romania, the executive president of the Romanian Association of Banks (ARB), Florin Danescu, told the debate “Learned Lessons in Crises Times A Global Puzzle” on Friday (Dec. 9).
COMPANIES & BUSINESS
12:48 About 70% of Romanian employees say they make savings, in the attempt to be protected from an uncertain economic future, according to the latest survey made by the online recruiting platform BestJobs, but half of them succeed to save regularly, while the rest make savings occasionally.
11:25 Austrian banking giant Raiffeisen Bank has started returning the amounts established by an Order of the president of the National Authority for Consumer Protection (ANPC) in relation to the bank’s unfair commercial practices, so far being reimbursed about 13.4 million euros for 5,530 customers, out of a total of 21.7 million euros, the ANPC announced.
10:28 Bittnet, a group of IT companies listed on the Main Market of the Bucharest Stock Exchange, has announced the third M&A transaction of 2022 by signing a contract to acquire 70% of the shares of Dataware Consulting SRL (Dataware), IT&C integrator of products and services.
10:00 Romania’s Financial Supervisory Authority (ASF) recently granted a stock brokerage and financial investment services license to Investimental. The new brokerage firm is the first new broker authorized by ASF on the Romanian capital market in the last 14 years.
SOCIETY
14:52 Inflation is a top concern for two-thirds of consumers in Romania, followed by the Ukraine war and healthcare costs, according to the “Consumer Sentiment Survey” conducted by McKinsey&Company Romania last month.
10:01 As many as 83,208 people, including 7,748 Ukrainian nationals, entered Romania on Sunday (Dec. 11) down 16% from the previous day, according to the General Border Police Inspectorate (IGPF).
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