The South African investment fund has announced an equity raising of roughly 80 million euro through an accelerated bookbuild opened on October 22, 2014, at 09h00 (South African time), NEPI reserving the right to close it at any time.  Also, the size of equity raise could be increased, depending on demand....more »

Standard & Poor’s has affirmed the long and short-terms foreign and local currency credit ratings on Romania at ‘BBB/A-3’, maintaining the outlook stable. The credit rating agency explains through a release that the ratings are supported by “Romania’s low and declining external debt stock, its narrowing general government deficits, and moderate stock of general government debt amid relatively firm growth prospects”....more »

The International Monetary Fund has revised the latest estimation on Romania’s economic progress (2.8 percent in July 2014) to 2.4 as per the World Economic Outlook report released on 7 October. Although anticipating a slower growth rate, the estimation is improved compared to the initial prediction of 2.2 percent. For the next year, though, the IMF maintained the projection, expecting an advance by 2.5 percent of the GDP....more »

The Ministry of Finance issued a draft law for amending the Law no. 297/2004 on the capital market. The bill, which can be checked on the ministry’s website, is aimed at aligning the current legislation to the existing standards in order for Romania be ranked as an emergent capital market, thus increasing external visibility and attracting new investors. This legislative approach is part of a broader initiative of a working group lead by the Bucharest Stock Exchange and which comprises representatives of the domestic capital market, the Financial Supervisory Authority and of the National Bank of Romania....more »

Companies controlled by the Romanian State, such as Hidroelectrica, Bucharest Airports, Oltenia Energy Complex and Constanta Port, will be listed on the stock exchange as per the Government’s related-programme, said Prime Minister Victor Ponta, according to Mediafax....more »

The Board of Romania’s Central Bank, BNR, lowered again the monetary policy rate to 3 percent, a new historic low, after a similar measure taken during the previous meeting when it was reduced from 3.50 to 3.25 percent....more »

Ioana Maria Petrescu, the Minister of Finance, announced that the Government will except the companies operating offshore platforms in the Black Sea from paying the tax on special construction. Hence, companies such as Petrom, Lukoil or ExxonMobil will not pay the 1.5 percent tax introduced this year for the drilling wells they operate. ...more »

The Ministry of Finance announces the start of the first session of the state aid programme aimed at encouraging investment and enhancing regional development by creating new jobs, hence companies looking for obtaining funds through state aid can submit the related requests within September 22 and October 17, 2014, according to a press release of the ministry....more »

Darius Valcov, the new Minister Delegate for Budget signed an agreement with the World Bank for receiving technical support in a project aimed at improving public investment management....more »

Nuclearelectrica’s Board of Directors convened this week approved the update of the revenues and expenses budget indicators for the current year. Accordingly, the nuclear power producer estimates a gross profit of about 124 million lei (213.5 percent higher than the profit foreseen in the budget approved on July 31, 2014) and a net profit of nearly 98 million lei (+254.8 percent compared to the previous budget framework)....more »