The National Bank of Romania raised its key monetary policy rate by 50bps to 6.75% on its meeting on Tuesday (Nov. 8), less than market expectations of a 75bps hike. The decision marked the ninth consecutive rate increase to push borrowing costs to their highest since February 2010.
Romania’s trade balance posted a deficit of EUR25.06 billion in the first nine months of this year, higher by EUR8.3 billion compared to the same period in 2021, National Institute of Statistics (INS) showed.
Greek lender Alpha Bank, among the ten largest banks by assets in Romania, in the first nine months of 2022 generated profit before tax worth EUR36.7 million, 82.5% higher than in the year-earlier period.
The Euro trades at 4.9052 RON on Wednesday (Nov. 9), according to quotations announced by the banks authorized to operate on the currency market.
-The Romanian IT market’s volume could exceed EUR 12 billion in the next two years, a study by ANIS, the Employers’ Association of the Software and Services Industry, showed.
-The number of registrations of individuals and legal persons increased, in January-September 2022, by 3.32%, to 120,602, y-o-y, of which 90,814 are limited liability companies (SRL), according to National Trade Register Office (ONRC) data. Meanwhile, during the period under review, the number of companies running on foreign capital newly established in Romania increased by 32.6% to 5,523 units.
-The companies most appreciated by their employees in Romania are MassMutual, Nobel, JYSK Romania, KRUK Romania, and Decathlon Romania, according to a survey carried out by Undelucram.ro platform.