Ford hands over full control of Romanian plant to Turkish JV

Ford Otosan, the joint venture with Turkey’s largest conglomerate Koc Holding will buy the U.S. automotive giant’s Craiova plant in southern Romania for 575 million euros ($630 million). “According to the contract, 356 million euros will be paid in 2022, 196 million euros including interest will be paid in June 2025 and 23 million euros will be paid, including interest, in December

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More Bucharest-listed companies make it to FTSE Russell EM indices

Five Bucharest-listed companies will be included in the FTSE Russell index series dedicated to Emerging Markets, starting with March 21. The inclusion of the companies MedLife (M), Purcari Wineries (WINE), Conpet (COTE), IMPACT Developer & Contractor (IMP) and Sphera Franchise Group (SFG) was decided by the global index provider following the quarterly review announced on Friday (Feb. 18). Thus, starting with March

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Romania’s inflation rate keeps going up

Romania’s annual inflation rate continues its upward trend, climbing to 8.4% in January, from 8.2% in the prior month, data from the National Statistics Institute (INS) showed Monday (Feb. 14). This was the highest reading since May 2011, with upward price pressures coming from all components: food products surged by 7.24%, non-food products soared 10.18% and services went up 5.66%. On a

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Romania c-bank hikes rates more than expected

The Board of the National Bank of Romania (NBR) raised the benchmark interest rate by 50 bps to 2.5% on Wednesday (Feb. 9), above expectations. The move was predicted by only five of the 13 economists surveyed by Bloomberg while 4 out of 7 analysts surveyed by Reuters had expected a quarter percentage point hike, with the median forecast putting the rate

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Romania sells $2.4 billion of USD-denominated bonds

Romania raised a total $2.4 billion tapping international markets with US dollar-denominated bonds, with the maturity of five and ten years respectively, including the refinancing of dollar-denominated bonds issued in the previous years. The $ 5-year bond is due on February 27, 2027 while the 10-year bond on March 27, 2032, according to Bloomberg. For 5-year bonds, the indicative interest rate consists

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Record number of dissolved companies in Romania

The number of companies that suspended their activity in Romania in the first eleven months of 2021 was 11604, up 17.8% compared to the same period in 2020, National Trade Register Office (ONRC) data showed. Most of the companies that suspended their activity in the country between January and November 2021 were from Bucharest, the capital, 1159, up 13.63% compared to the

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