Economics

OTP Bank Romania has finalized the acquisition of Millennium Bank Romania, a transaction worth 39 million euro announced in June 2014. As a result of taking over of the bank, formerly part of Banco Comercial Portugues, the market share of OTP Bank Romania will expand to about 2 percent and the newly merged bank is expected to move up to the 13th position among the banks operating in Romania....more »

The retail turnover volume recorded a
growth rate above 7 percent in the first eleven months of the past year
stimulated by rising sales of non-food products, food, beverages and tobacco,
indicates a report of the National Institute of Statistic...more »

Romania has committed to use all the CHF181 million (150 million euros) non-reimbursable funds granted by Switzerland for helping our country to develop, amount which will be allocated to more than 250 projects already approved, announces the Ministry of Finance....more »

Romania’s central bank, BNR, lowered again the monetary policy rate to 2.5 percent, a new historic low, which will be effective starting with January 8, 2014, announces a press release of the bank....more »

The new Minister of Economy, Mihai Tudose, met with representatives of the judicial administrators of Oltchim, RomInsolv and BDO Business Restructuring who presented the timetable for reorganizing the insolvent chemical plant and which fixes March 7, 2015 as the deadline for approving the reorganization plan....more »

Over 50 milk factories, about one third of the production facilities on the Romanian market, were closed last year due to lower domestic demand and rising production costs according to Dorin Cojocaru, president of APRIL, Romania’s Dairy Industry Association, who talked to Mediafax....more »

Industrial production prices continued the decline in November 2014 with a drop by 0.1 percent compared to the previous month, price decreases being recorded both for the local market (-0.2 percent) and for the non-domestic market (-0.1 percent)....more »

The value of domestic real estate deals boosted last year when the transactions including office, retail or industrial properties came to about 1.1 billion euro, an advance by 220 percent compared to 2013 when the reported value was 351 million euro, according to CBRE, reads Mediafax....more »

The National Bank of Romania’s foreign exchange reserves increased at the end of 2014 to 32.216 billion euro from 31.467 billion euro in November, while in 2013 they came to 32.525 billion euro....more »

The euro dropped to its lowest level since 2006 on rumors that the European Central Bank will launch a bond-buying programme, the uncertain outcome as regards Greece’s possible exit from the Euro zone also affecting the euro’s index, reads Reuters....more »
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