Romania

Romania’s bank deposits annual growth grew in March, the National Bank of Romania (BNR) said on Thursday (April 27) in its monthly monetary statistics report. The deposits of the non-government sector in local lenders increased by 9.5% last month y-o-y, to 524.4 billion lei (106.1 billion euro), after rising 8.5% in February. Romanian leu deposits went up by 17.8%, reaching 347.4 billion

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

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

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

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

The Romanian Senate adopted on Wednesday (Feb. 2) a legislative proposal aimed at simplifying the taxation of equity gains investors make on the domestic capital market. Of the 120 senators present, 118 voted in favor, one abstention and one vote against. The bill provides for the withholding tax on capital gains for individual investors to be retained at source, with two tax

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