TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9248 | GBP 5.7268 |
| USD 4.6225 | CHF 5.9864 |
| BGD 2.5180 | MDL 0.2415 |
(Source: National Bank of Romania BNR)
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 -1.46%, BET-TR -1.45%, BET-FI -2.20%, BET-NG -1.39%, BET-XT -1.52%, BETXT-TR -1.52%, BET-BK -1.32%, RO-TX -1.63%, BETAeRO -0.09% |
CAPITAL MARKET COMMENTARY
| Stocks in Bucharest closed in the red on Wednesday tracking a general cautious mood ahead of the U.S. Federal Reserve’s interest rate review later in the day. Nuclearelectrica led the losses as the company’s shares slumped 2.27% to close at 43.0000 points. |
TODAY’S NEWS
POLITICS
15:19 Romania’s parliament adopted 2023 budget projecting 4.4%/GDP deficit.
15:04 Romania will not challenge Austria’s veto with the European Court of Justice, in the case regarding Romania’s accession to Schengen, President Klaus Iohannis said in Brussels, prior to attending the European Union (EU) – the Association of Southeast Asian Nations (ASEAN) Summit.
13:43 The initial memorandum regarding Romania’s accession to the Organization for Economic Cooperation and Development (OECD) will be submitted on Thursday (Dec. 15) in Paris, Prime Minister Nicolae Ciuca stated at the beginning of the government meeting on Wednesday.
11:02 Romania’s President Klaus Iohannis will participate on Wednesday (Dec. 14) in the European Union – Association of Southeast Asian Nations (ASEAN) Summit, and on Thursday (Dec. 15) in the European Council meeting in Brussels where he will also raise the topic of Romania’s accession to the Schengen Area.
10:03 Romania’s National Trade Union Bloc (BNS) and the National Confederation of Trade Unions from Moldova signed a cooperation agreement on Tuesday, in the presence of the Romanian Speaker of the Chamber of Deputies, Marcel Ciolacu, Agerpres reported.
09:48 The joint parliamentary budget and finance committees gave a favorable report on Tuesday on the draft state budget law for 2023, with 23 votes “for” and 7 “against” being recorded.
09:36 The president of the foreign affairs committee of the Senate, Titus Corlatean, wrote on Facebook on Tuesday (Dec. 13) that the committee could pay a visit to Vienna in January 2023, to discuss the possible solutions to Romania’s objective of joining the Schengen Area.
ECONOMY
17:21 Romania’s current account balance posted a deficit of EUR23 billion in January-October 2022, higher by EUR9 billion y-o-y, National Bank of Romania (BNR) data showed.
14:29 Romania’s electricity production dropped 4.5% in January-October 2022 y-o-y, National Institute of Statistics (INS) data showed.
11:11 The average salary of employees in the Romania’s public sector (bonuses not included) is 32% higher than in the private sector, while the revenues achieved in the public sector (bonuses included) are 43% higher, newspaper Bursa reported citing the Social Monitor, a project of the Friedrich-Ebert-Stiftung Romania.
10:54 The unemployment rate in Bucharest stood at 1.05% in November compared to 1.06% in October, according to the Bucharest Municipal Employment Agency (AMOFM).
10:17 New orders in the manufacturing industry increased by 19.9% in the first ten months of 2022 y-o-y, National Institute of Statistics (INS) data showed.
COMPANIES & BUSINESS
11:22 The number of delisted companies at the national level increased by 10.44% in January-October 2022 up to 58,276 delistings y-o-y, the National Trade Register Office (ONRC) statistics showed.
11:15 Franklin Templeton International, the manager of local investment fund Fondul Proprietatea, announced the start of an accelerated bookbuilding offering of its entire stake in OMV Petrom, the largest oil and gas producer in Southeast Europe, on the Bucharest Stock Exchange.
11:02 OMV Petrom, Romania’s only oil and natural gas producer and Romgaz submitted the statement of commercial discovery for the offshore field Neptun Deep with Romania’s national agency for mineral resources (ANRM) market sources said.
10:59 Rents for future office projects partly reflect higher construction costs, Silviu Pop, Director CEE & Romania Research at Colliers was quoted as saying by local business daily Ziarul Financiar.
10:15 Approximately 40% of the employees in the IT industry in Romania have changed their workplace in 2022, as a result of the deficit in IT specialists, according to the analysis of TARA Interactive, a Romanian company for software development.
SOCIETY
11:19 Almost two-thirds of Romanians (65%) choose to spend their holidays in Romania, to the detriment of traveling abroad (29%), a study conducted by Reveal Marketing Research, at the request of Nordis Group has revealed.
10:11 About two thirds of Romanians are very worried and worried about the possibility of the extension in Romania of the Ukraine war, according to a survey conducted by the Bucharest University between September 14- October 5,
MORE NEWS FROM ROMANIA
TIMISOARA
11:29 Mayor Dominic Fritz: We will not increase rents in Timisoara markets, Timis Online reported.
CLUJ-NAPOCA
10:22 Emil Boc, Cluj-Napoca’s mayor, announced on Wednesday (Dec. 13) a key partnership with the National Road Infrastructure Administration.
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