Romanian Market Daily News – 23/11/22

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POLITICS

Social Democratic Party (PSD) MEPs Dan Nica and Victor Negrescu said that they have got the firm commitment of the social democratic commissioner from Sweden, Ylva Johansson, for a favourable decision regarding Romania’s accession to the Schengen area, according to a press statement.

09:48 President Iohannis will pay an official visit on Wednesday (Nov. 23) to the Republic of Latvia, according to the Presidential Administration. The visit takes place in the centennial year of establishing the Romanian-Latvian diplomatic relations.

09:39 The European Commission’s report on Romania under the Cooperation and Verification Mechanism (CVM) released on Tuesday (Nov. 22) encourages the government to continue course established for supporting the judiciary’s independence Prime Minister Nicolae Ciuca wrote in a post on the government’s Facebook page.

09:30 Romania’s and Spain’s Governments shall gather on Wednesday, in Castellon de la Plana, in a first joint meeting, according to a release of the Romanian government.

ECONOMY

09:28 Romania is a large importer of agri-food products from three important countries, namely Germany, Hungary and Poland, but, together with these products, we also import inflation, the chairman of the National Institute of Statistics (INS), Tudorel Andrei told a conference on Tuesday (Nov. 22).

09:22 The Government approved on Tuesday (Nov. 22) the negotiation of a guarantee agreement with the International Bank for Reconstruction and Development, with a view to a preventive loan of 406 million euros. 

09:18 Economic activity would probably record higher-than-previously-foreseen dynamics in 2022, yet solely as a result of the above-expectations performance in H1. Economic growth would then decelerate markedly in 2023 and witness only a slight revival in 2024, show the minutes of the monetary policy meeting of the National Bank of Romania’s Board of Directors from Nov. 8, 2022.

09: 15 The government approved on Tuesday, a memorandum in which it expresses its agreement in principle regarding the contracting of reimbursable financial assistance from the European Investment Bank, worth 229 million euros, with the destination of investments in the healthcare sector

MARKET & COMPANIES

11:01 More than 50% of the total number of active enterprises, respectively 50.1%, had market services as their main activity, which sector also scored the highest average number of employees, representing 36.8% of the total, National Institute of Statistics data showed.

10:00 Paval Holding, owned by the Romanian founders of local DIY chain Dedeman, has signed the contract for acquiring for EUR 377 mln the portfolio of seven office buildings in Bucharest held by Austrian real estate developer CA Immo, Ziarul Financiar reported on Wednesday (Nov. 23).

09:55 The confidence level of Romanian managers fell in H1 2022 at 44.4, but remains above the level of the similar period of 2021, according to the results of the CONFIDEX S2 2022 study, published by Impetum Group.

09:13 New data from global HR and payroll company Remote which investigates the world’s best countries for businesses wanting to expand internationally, reveal that Romania ranks seventh, with a GDP annual growth rate of 5.9 and 263 of start-ups.

TECHNOLOGY

09:17 Romania is 49th out of 132 countries in terms of innovation, according to the World Intellectual Property Organization which published the Global Innovation Index 2022.

SOCIETY

10:25 On Tuesday (Nov. 22), a number of 61,301 people entered Romania through border points throughout the country, of whom 7,041 were Ukrainian citizens, down almost 8% compared to the previous day, according to the General Inspectorate of the Border Police (IGPF).

MORE NEWS FROM ROMANIA

NADLAC

11:23 Lines of trucks of up to eight kilometers formed, on Wednesday, up ahead the Nadlac II and Varsand Border Crossing Points, where drivers have been waiting at least two and a half hours for the border crossing formalities to get into Hungary, both because of the large number of trucks arriving at the border and because the neighboring country did not allocate enough personnel for control, Agerpres reported.

TURNU MAGURELE

11:19 Romania’s minister of energy Virgil Popescu announced on Tuesday (Nov. 22) that he agreed with his Bulgarian peer Rosen Hristov to resume talks on the project for the 840MW hydropower plant located at Turnu Magurele – Nikopol on the Danube.

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