Govnet

What EY Romania has to say after two weeks of VAT split

The VAT split payment system is an absolute novelty for Romanian fiscal practice and, as expected in this early period, there are still things to improve, according to EY, one of the largest consulting companies in Romania, which after two weeks of optional application of this system, identified the first basic issues.

Another year for BVB for receiving the emerging market status

The Bucharest Stock Exchange is still on the waiting list for receiving the emerging market status, as a result of the annual ranking by the London-based FTSE Russell financial assessment agency. Thus, although it had a sequence of listings - MedLife, Digi Communications and AAGES Targu Mures - the BVB remains a border market due to the reduced liquidity

Premiere for BVB: The first issue of EUR-denominated bonds settled in the same currency

PeliFilip assisted the International Investment Bank (IIB) regarding its first EUR 60,000,000 bond issue and its third issue of RON-denominated bonds worth RON 300,000,000 at Bucharest Stock Exchange (BVB), the law firm announced on Thursday.

The transaction represents a premiere for the Romanian stock market.

Money available for State Aid

The Government announced the National Budget amendment and approx. EUR 140 mil. (RON 638 mil) were allocated for State Aid for financing investment projects, which is the maximum amount possible for 2017. In this context, the next phase should be that the Romanian authorities announce the opening of the window for applications very soon.

1.5 billion Euro shares traded on BVB in 8 months of 2017

The total trading value of equities exceeded EUR 1.5 billion on Bucharest Stock Exchange (BVB) by the end of August, up by 35% as compared to the first eight months of the previous year. The Investors bought and sold shares worth EUR 180 million last month, which is 27% over the value posted in July 2017. As compared to August last year, the total trading value of equities surged by 85 percent.

Bucharest Stock Exchange second in region by number of IPOs

The listing of Digi Communications and AAGES places Romania second in Central and Eastern Europe (CEE) by the number of initial public offerings (IPO) after the Warsaw capital market, the Bucharest Stock Exchange (BVB) said in a release.

"The Bucharest Stock Exchange is second in the Central and Eastern European capital market where initial public offerings (IPO) have been successfully concluded in the second quarter of this year, for a cumulative amount of over 208 million euro, according to BVB.

Financial

Cumulative level of five SIFs net assets, up to 8.15 billion lei in May

The cumulative level of the net assets of the five SIFs (Financial Investments Society) was 8.15 billion lei in May, up 5.8 pct from the level recorded at the end of April, reads a press release of the Association of Fund Managers in Romania.

"Following the evolution of the net assets in the reported month, we can see that the five SIFs registered only positive developments, with a 7.5 pct growth in SIF Moldova, 6.4 pct at SIF Transilvania, 6.3 pct at SIF Oltenia, 4.6 pct at SIF Banat-Crisana and 4.1 pct at SIF Muntenia," reads the quoted document.