Financial
February 10, 2017 07:14
Romania's trade balance deficit (FOB/CIF) hit 9.957 bln euro in 2016, by 1.591 bln euro higher than in the previous year, shows data released by the National Institute of Statistics (INS). In comparison with 2015, exports and imports increased last year by 5.1 pct and 7.0 pct, respectively. FOB exports totaled 57.385 billion euros, while CIF imports amounted to 6.734 billion euro. The product groups with a significant share in the country's trade were machines and transport equipment (47 pct for exports and 38 pct for imports) and other manufactured products (32.4 percent for exports and 31.0 percent for imports, respectively)....more »
January 11, 2017 07:10
Former Public Finance Minister Anca Dragu maintains that in 2016 there were registered approximately 1.5 billion lei savings in the budget, taking into account that, according to the current estimates, the year ends with a 2.59 percent budget deficit, under the initial 2.8 percent of the GDP initial target.  "Not only that we haven't exceeded the 2.8 percent of the GDP budget deficit target, but we have even had savings, taking into account that we have a deficit estimate at the year-end of 2.59 percent of the GDP. In cash, it means savings worth approximately 1.5 billion lei," Anca Dragu told Agerpress on Monday....more »
December 22, 2016 07:02
High taxation, fiscal environment unpredictability and competition, as well as the access to finance remain the main problems the companies in Romania are confronted with, reads a Survey on the access to finance of non-financial companies in Romania, logged in December 2016, and carried by the National Bank of Romania (central bank, BNR).  "Also found was an increase of the number of companies that deem the availability of the labour force a pressing issue as compared to the previous report," says the survey.  ...more »
December 22, 2016 06:48
Nestor Nestor Diculescu Kingston Petersen (NNDKP) advised Value4Capital (V4C) on the sale of its entire shareholding of 36.25% in Medlife S.A., Romania’s largest provider of private healthcare services.  The exit came seven years after V4C purchased the shares from Medlife’s founders and the International Finance Corporation (with NNDKP acting as local counsel) and was performed through an initial public offering on the Bucharest Stock Exchange (BSE). The transaction became the first IPO of a private company performed in the past decade in Romania. ...more »
November 24, 2016 06:46
Romania's leasing industry could attain in 2017 its medium- term growth potential of 15 pct, while the value of financed assets could exceed 2.3 billion euro, president of the Financial Companies Association (ALB) Bogdan Speteanu said on Wednesday at the annual conference of the industry. "Speaking of expectations for the leasing industry in 2017, I would say that we will attain our growth potential. In recent years we came to the conclusion that a figure around 15 percent represents a sustainable growth for the leasing market. In the current context and considering the macroeconomic forecasts for next year, and also in connection with Romania's economic growth rate which hopefully will further stay on tops of the EU charts (...) we consider that a 15 percent growth is realist ic. Next year we hope to see the leasing market go towards 2.3 billion euro," Bogdan Speteanu told the 12th ALB Romania national conference organised together with Govnet Conferences....more »
November 11, 2016 13:21
Romania's national passenger railway carrier CFR SA and the European Commission - via its Innovation and Networks Executive Agency (INEA) have signed a funding contract for the upgrading of the Apata-Cata railway portion worth a total 440 milli...more »
September 01, 2016 12:54
Minister of Public Finance Anca Dragu announced that the Government will present to the European Commission a plan on adopting the euro by April 2017 as it is an obligation of the Member States to state their position on the adoption of the single currency....more »
August 23, 2016 17:00
Eximbank won the tender organized by the Romanian Post for a loan of 60 million lei, with a repayment period of 36 months to finance its working capital. " Winning this financing tender in the competitive process organized by the Romanian Post...more »
June 10, 2016 09:34
Dräexlmaier, the German producer of automotive components and one of the largest employers in Romania, attracted a financing of 40 million EUR from the European Bank of Reconstruction and Development (EBRD) through an emission of hybrid bonds. The financing adds to another 50 million EUR from a previous loan, bringing the project financing volume to a total of 90 million EUR. The funds are going to be used to increase the production capacity of the factories in Romania, Serbia, Macedonia and Tunisia, and also for financing a new production plant in Republic of Moldova. ...more »
June 07, 2016 16:34
European based International Insurance Consortium/ IIC Group B.V. have stopped the completion of the purchase of all shares of the Romanian insurance company Carpatia Asig. This implicates that IIC Group have also withdrawn its application ...more »
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