Oana Gavrila

Banca Transilvania Plans To Acquire Microinvest in Republic of Moldova

10:00, 14 Ian. 2020
Banca Transilvania, Romania's largest lender by assets, plans to acquire 100% of the share capital of Microinvest, which specializes in financing small businesses and is the leader of the non-banking financing market in the Republic of Moldova.

Patria Credit IFN Gets EUR2.5M EFSE Loan to Fund Farmers

18:36, 07 Ian. 2020
Patria Credit, the non-banking financial institution owned by Patria Bank Group, which funds farmers and farming micro-enterprises, received a EUR2.5 million loan from the European Fund for Southeast Europe (EFSE), it said in a press release Tuesday.

Developer One United Properties Relocates HQ to North Gate Offices in Bucharest

17:33, 07 Ian. 2020
Romanian real estate developer One United Properties, owned by Andrei Diaconescu and Victor Capitanu, will occupy over 15% of the office space in the North Gate office project in Bucharest.

Romania Drafts 2020 Budget on 3.59% Deficit, 4.1% GDP Growth

10:22, 17 Dec. 2019
Romania's 2020 state budget will be based on a gross domestic product of RON1.129 trillion, a projected economic growth of 4.1% and a deficit of 3.59% of GDP, finance ministry data showed Tuesday.

Government to Repeal Part of Controversial Tax Bill

16:41, 02 Dec. 2019
Romania's liberal government will fast-track a bill to repeal several provisions of a controversial tax bill adopted by the previous social-democrat government, prime minister Ludovic Orban said Monday.

eJobs: Romanian Bank Employees Get Second Lowest Pay in CEE

16:57, 07 Aug. 2019
Bank employees in Romania are the second-lowest paid in the region, with an average EUR718 a month, topping just Bulgarian banking sector employees, who earn a monthly average of EUR586, a comparative analysis by eJobs showed Wednesday.

Government Plans Income Tax of Up To 50% on Special Pensions

11:50, 01 Aug. 2019
The Romanian government is working on a draft to apply an income tax rate of 10% to 50% on special pensions, official sources told Mediafax.

Negotiations for Nuclear Units 3, 4 in Cernavoda To Be Completed This Year

13:22, 29 Iul. 2019
Negotiations for the construction of a third and fourth nuclear reactor at Romania's power plant in Cernavoda will be completed this year, energy minister Anton Anton said Monday.

Financial Analysts See Leu Falling to 4.82 Units vs Euro in 12 Months, Inflation at 4.05%

10:48, 29 Iul. 2019
Seven out of ten analysts expect the Romanian leu to depreciate to an average 4.8262 lei to the euro over the next 12 months, while inflation is seen averaging 4.05% over the same horizon.

Romania Current Account Deficit Widens to EUR3.4B in Jan-May

14:32, 15 Iul. 2019
Romania's current account balance posted a deficit of EUR3.4 billion in January-May, compared with a deficit of EUR2.564 billion in the same period of 2018, central bank data showed Monday.

Romanian Private Pension System Evolved Well in 1Q/2019, Says Watchdog VP

12:53, 15 Iul. 2019
The Romanian private pension system had 7.79 million contributors and managed assets totaling RON53.21 billion at the end of the first quarter of 2019, said Dan Armeanu, vice-president of the financial supervision authority overseeing the private pension system.

Parliament Committees Endorse Mugur Isarescu for New Term as Central Bk Governor

14:04, 02 Iul. 2019
The Romanian parliament's budget-finance committees on Tuesday unanimously endorsed Mugur Isarescu for a new five-year term as central bank governor.

Romania Posts Budget Deficit of 1.4% of GDP in Jan-May

09:44, 02 Iul. 2019
Romania's general consolidated budget posted a deficit of RON14.7 billion in January-May, or 1.4% of gross domestic product, finance ministry data showed.

Romania Private Lending Grows 0.4% in May

12:26, 27 Iun. 2019
Private lending in Romania grew a slight 0.4% (-0.1% in real terms) in May compared with April, to RON257.539 billion, central bank data showed Thursday.

Unirea Shopping Center Switches to RON23M Profit in 2018

12:09, 18 Iun. 2019
Unirea Shopping Center (SCDM.RO), which operates two retail centers in Bucharest and Brasov, posted a profit of RON23.2 million in 2018, compared with a loss of RON34.8 million in 2017, after cutting back ion exploitation and financial expenses.

Medical Inflation Seen Dropping to 10% in Romania

18:05, 13 Iun. 2019
The Romanian market will register a drop in medical inflation from 15% in 2018 to 10% this year, although the cost of medical services is on the rise globally.

Romania Raises Over RON1B Selling 12-Year and 2-Year Bonds

16:10, 13 Iun. 2019
Romania's finance ministry on Thursday raised a total 1.013 billion lei (EUR214.5 million) in two separate tenders, selling bonds maturing in September 2031 and in June 2021, central bank data showed.

Dedeman To Acquire Letea Bacau Platform for EUR3.16M

16:00, 11 Iun. 2019
Bacau-based Dedeman group will acquire the industrial platform of former paper mill Letea Bacau for EUR3.16 million and plans to develop a business hub on the site.

IMF Warns of Rising Macroeconomic Imbalances in Romania

13:39, 07 Iun. 2019
Consumption-led growth has remained strong in Romania, raising people’s incomes toward those in advanced Europe, but macroeconomic imbalances have also deepened and fiscal and current account deficits have widened and inflation pressure is rising again, the International Monetary Fund said Friday.

Transelectrica Net Profit Drops 44% in 1Q, to RON38M

11:39, 15 Mai 2019
Romanian state-run power grid operator Transelectrica (TEL.RO) on Wednesday reported total revenues of RON648 million for the first quarter, down 5% on the year, and a net profit of RON38 million, down 44% on the year.

Romanian Senate Tacitly Adopts Bills Replacing Consumer Loan Reference Index

10:46, 07 Mai 2019
The Romanian Senate has adopted tacitly, without debate, a bill approving the government emergency decree that replaces the reference index on consumer loans with variable interest.

Romania’s Finance Ministry Amends Bank Tax This Week

13:21, 13 Mart. 2019
Romania's finance ministry will finish this week a draft of changes to the emergency decree 114/2018 that introduced a tax on bank assets and raised capital requirements for mandatory private pension funds.

Bank Tax Prompts Raiffeisen Bank International To Reevaluate Romanian Operations

12:16, 13 Mart. 2019
Raiffeisen Bank International will reevaluate its operations in Romania following the government's introduction of a tax on banks' financial assets in December 2018, RBI CEO Johann Strobl said in the bank's annual earnings report released Wednesday.

Romanians May Stop Contributing to Mandatory Private Pensions after 5 Years

09:51, 13 Mart. 2019
Romanians who contributed for at least five years to the mandatory private pension system known as Pillar II may choose to stop contributing, according to a norm issued by the country's financial watchdog ASF and published in the Official Journal.

Romania’s Average Net Salary Drops 0.7% on Month in January

09:17, 13 Mart. 2019
The net average salary in Romania declined 0.7% in January compared with December, to 2,936 lei (around EUR617), after holiday and end of the year performance bonuses granted in December, data from the country's statistics board showed Wednesday.

Romanian Fiscal Council Sees 2019 Budget Deficit at 3.5% of GDP

14:37, 11 Mart. 2019
Romania's Fiscal Council said Monday the country's budget deficit could reach 3.5% of gross domestic product this year, well above the EU limit of 3%, as the state budget is undervalued.

Romania’s Sovereign Investment Fund to Have RON19.11B Share Capital

17:52, 08 Mart. 2019
Romania's Sovereign Fund for Development and Investments (FSDI) will have a share capital of RON19.11 billion, according to a draft government decision published Friday.

Kazakh–Romanian Energy Fund Invests $230M in Petromidia Cogeneration Plant, Gas Station Chain

17:50, 06 Mart. 2019
The Kazakh–Romanian Energy Investment Fund, 80% owned by KMG Internatioanl and 20% by the Romanian state, plans to invest $230 million in a cogeneration plant at the Petromidia refinery and to expand the Rompetrol gas station network.

German Fashion Retailer Kik Opens First Store in Bucharest in Bucur Retail Park

15:25, 06 Mart. 2019
German fashion discounter Kik has opened its first store in Bucharest in Bucur Retail Park in the western part of the city, following an investment of EUR200,000, and plans to reach 30 stores in Romania this year.

Romania to Relaunch Tenders for Two Lots of Craiova-Pitesti Expressway

17:56, 05 Mart. 2019
Romania's roads authority CNAIR will organize new tenders for the third and fourth lots of an expressway linking the cities of Craiova and Pitesti in southern Romania and hopes to contract the works by the end of the year, spokesman Alin Serbanescu said Tuesday.

APIA: Car Sales in Romania Grow 21% on Year in January

16:37, 25 Feb. 2019
Car sales in Romania grew 21.6% in January compared with January 2018, while new car registrations declined 4.6% in the EU, data from the Automotive Manufacturers and Importers Association (APIA) showed Monday.

ING Survey: Over 60% of Romanians Expect To Be Working Beyond Retirement Age

13:25, 20 Feb. 2019
Around 54% of Europeans expect to continue working after retirement age, with the highest rates among Romanians and Czechs (63%), according to the ING International Survey Savings 2019 released Wednesday.

Black Sea Oil & Gas CEO Expects Tax Decree To Be Scrapped by 2021

13:24, 20 Feb. 2019
Romania's tax decree could be scrapped completely by 2021 when Black Sea Oil & Gas is set to start extracting gas from the Black Sea in a $400 million investment, CEO Mark Beacom said Wednesday at ZF Power Summit 2019.

Finance Ministry Official Says Bank Tax on Assets is Quarterly

12:07, 14 Feb. 2019
Romania's tax on banks' financial assets is to be levied quarterly on the quarterly assets balance, an official at the Ministry of Finance said Thursday.

EC Allots EUR517M for Bucharest Airport Metro Line

14:29, 13 Feb. 2019
The European Commission on Wednesday approved EUR517 million financing for a new metro line in Bucharest that would eventually run to the Otopeni international airport.

Romania’s Current Account Deficit Widens to EUR9.4B in 2018

13:30, 13 Feb. 2019
Romania's current account balance posted a deficit of EUR9.416 billion in 2018, nearly 60% higher than the EUR5.97 billion deficit recorded in 2017, central bank data showed Wednesday.

Romania Inflation Rate Flat at 3.3% in January

10:17, 13 Feb. 2019
Romania's annual inflation rate stood at 3.3% in January, the same as in December 2018, data from the country's statistics board showed Wednesday.

Isarescu Says Bank Tax Is an Attack on Central Bank Independence

13:31, 12 Feb. 2019
Romanian central bank governor Mugur Isarescu said the tax on bank assets is an attack on the independence of the institution, as it hinders monetary policy.

Central Bank Governor Tells Senators How ROBOR Index Works

12:19, 12 Feb. 2019
The money market interest rate known as ROBOR was not manipulated, central bank governor Mugur Isarescu told members of the Senate's budge and finance committees at a hearing Tuesday.

Romanian Government Adopts 2019 Budget, Targets Deficit at 2.55% of GDP

17:10, 08 Feb. 2019
Romania's government on Friday adopted the 2019 state budget, built on an economic growth projection of 5.5%, which critics said is overly optimistic, and targeting a deficit of 2.55% of gross domestic product.