Economics
June 12, 2017 17:19
Romania's natural gas production will increase steadily in the next three years, up to 9 million tons of oil equivalent (toe) in 2020, while imports will steadily decrease, to 700,000 toe also in 2020, shows the prognosis of the energy mix published recently by the National Prognosis Commission quoted by Agepress.  Thus, gas production will go up from 7.48 million toe in 2016 to 7.8 million toe in 2017 (+4.2 pct) to 8.2 million toe in 2018 (+5.1 pct), 8.6 million toe in 2019 (+4.9 pct), and 9 million toe until 2020 (+4.7 pct)....more »
May 23, 2017 11:20
Governor of the National Bank of Romania Mugur Isarescu stated that he has never witnessed in 27 years a better macroeconomic situation in Romania, but at the same time a riskier one, at the "Financial Market Forum" organised by the Romanian Banking Association....more »
May 23, 2017 11:19
The mandatory private pension funds (Pillar II) had assets worth approximately 34.75 billion lei on April 30, 2017, up 32.15 pct year-over-year, according to the data relesed by the Financial Supervision Authority (ASF). The state securities hold the largest share in the assets, of 21.92 billion lei, respectively 63.09 pct. Shares rank second, with 6.95 billion lei (20.02 pct). Bank deposits rank third in this respect, with 2.56 billion lei and 7.38 pct of the total assets respectively....more »
May 17, 2017 15:12
Romania's Q1 2017 Gross Domestic Product (GDP) advanced 5.7 percent in unadjusted terms and 5.6 percent in terms adjusted for seasonality, both against the same quarter of 2016, according to flash estimates released by the National Institute of Statistics (INS). The Q1 2017 GDP was 1.7 percent higher in real terms than the Q4 2016 GDP.  INS says the seasonally adjusted series of quarterly Gross Domestic Product was readjusted as a result of the introduction of the estimates for Q1 2017, the revision being insignificant as compared to the version published on April 7, 2017....more »
May 17, 2017 15:11
The Agency for Agricultural Payments and Intervention (APIA) has concluded the campaign for the submission of single payment applications, with the area included in the applications by the applicants covering 9,541,389.45 hectares, 214,524.58 m...more »
May 15, 2017 17:35
Bucharest City's two airports - Henri Coanda and Aurel Vlaicu - have joined the top five Q1 2017 highest rising airports in terms of passenger traffic increases, according to news from the Airports Council International Europe cited by the Bucharest National Airport Corporation (CNAB) in a press statement. In the group of airports welcoming between 5 and 10 million passengers per year Henri Coanda (OTP) was third, with a 21.5-percent increase, after Reykjavik-Keflavik (Iceland) and Kiev. Bucharest Baneasa (BBU) was first in terms of growth in the group of airports welcoming less than 5 million passengers per year. It was followed by Foggia (Italy), Nis (Serbia), Zadar (Croatia) and Oradea, according to ACI Europe....more »
May 09, 2017 16:01
Banca Comerciala Romana posted a net profit of 196.3 million lei (43.4 million euro) in the first quarter of 2017, the bank's representatives announced.  The operating result was 338.0 million lei (74.7 million euro), 2.3 percent higher than the 330.6 lei (74.7 million euro) in the previous year, as an effect of lower operating revenues (under the impact of the settlement of the portfolio of underperforming loans and of lower interest rates) coupled with lower costs.  ...more »
April 28, 2017 11:08
PeliFilip has provided legal advice to Digi Communications N.V. ("DIGI"), the majority shareholder of RCS & RDS SA, regarding the public offering of up to 21,744,108 shares at a bid price expected to be between RON 38 and RON 56 per share and the admission of the shares offered for trading on the Regulated Market at the Bucharest Stock Exchange, International Category. ...more »
April 27, 2017 18:11
OMV Petrom estimates that investments for 2017 will amount to 4.56 bn lei, up 83 pct from the 2.49 bn lei registered in 2016, the company said in a release. The Ordinary General Meeting of Shareholders approved the investment budget of OMV Petrom for this year, with the main investment focus staying on Upstream, for which investments of more than 4.15 bn lei have been budgeted (91 pct of the total), followed by Downstream Oil, with an investment budget of 323 million lei in 2017....more »
April 26, 2017 15:25
Three percent of the total Romanian companies represent the engine of the domestic economy and half of them are in difficulty, according to the third edition of the CITR Group study on the evolution of the impact companies between 2013 and 2015. The number of these impact companies is shrinking, from 23,384 in 2013 to 19,564 in 2015. If this shrinking trend persists, the whole economy may be affected by contagion shows the CITR study. All this in the context in which Romania is not able to generate enough new entrepreneurs to compensate for the imbalance in Romanian business....more »
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