Daily Newsletter
27 November 2015
Summary
- Cautious optimism surrounds Romania's growth outlook (Source: TheBusinessReview)
- CPBR: "We'll ask President Iohannis to notify the CCR" (Source: bursa.ro)
- Debtors hail bill (Source: bursa.ro)
- Households to pay less for electricity come January (Source: bursa.ro)
- 28% of Romania's GDP goes to black economy (Source: bursa.ro)
- Next year's budget is based on 2.95% deficit (Source: cursdeguvernare.ro)
- Cluj social center rehabilitated (Source: zf.ro)
- Leroy Merlin opens first Sibiu store (Source: zf.ro)
- Mudura family invests EUR 60 million in new Oradea mall (Source: economica.net)
- State to benefit from debt relief bill (Source: cursdeguvernare.ro)
- PM Ciolos says royalties increase bill should be subject to public debate (Source: economica.net)
- Viorica Dancila: "I hope that the Ciolos Cabinet fights for the farmers' interests, just as the Ponta Cabinet did" (Source: bursa.ro)
- Minister Petre Toba under suspicion of plagiarism (Source: cursdeguvernare.ro)
- Children poverty indicators worsened for Romania (Source: adevarul.ro)
FIC (1) |
Cautious optimism surrounds Romania's growth outlook (Source: TheBusinessReview; Date: 2015-11-27; Author: Unspecified) Experts discussed Romania's economy for three days. Among the speakers attending the event were Eric Stab, President of FIC and Nicolas Maure Board member of FIC. Top |
Financial News (5) |
CPBR: "We'll ask President Iohannis to notify the CCR" (Source: bursa.ro; Date: 2015-11-27; Author: Unspecified) The Council of Banking Employers in Romania (CPBR) will urge President Iohannis to notify the Constitutional Court regarding the bill allowing debtors to turn over their keys and also to send the bill back to the Parliament for review, according to executive director Bogdan Preda. CPBR will also demand clarifications from the National Bank of Romania (BNR) and the Ministry of Finance (MFP). Top |
Debtors hail bill (Source: bursa.ro; Date: 2015-11-27; Author: Unspecified) Andreea Cristoforidis, one of the leaders of debtor group GCCC, issued a series of "counterarguments to the counterarguments" brought by the banking system against the new bill. Cristoforidis complained that the banking system has launched a massive and aggressive campaign designed to manipulate the public opinion in order to avoid a moral solution. Top |
Macroeconomic News (3) |
Households to pay less for electricity come January (Source: bursa.ro; Date: 2015-11-27; Author: Unspecified) The electricity distribution price will drop 8-10% at the beginning of next year, which should lower the bills paid by Romanian households by 5-6%, starting on January 1, 2016, according to Niculae Havrilet, president of the National Regulatory Authority for Energy (ANRE). The natural gas price will fall by 10%, but only on July 1, 2016. Top |
28% of Romania's GDP goes to black economy (Source: bursa.ro; Date: 2015-11-27; Author: Unspecified) Romania still has a sizable black economy, one that accounts for 28% of the GDP, according to statements made by Catalin Cretu, VISA Europe's regional director for Romania, Croatia and Slovenia, at a conference. "We were the first to bring up the black economy in Romania. This is one of the biggest obstacles to consolidating a sustainable economy," said Cretu. Top |
Next year's budget is based on 2.95% deficit (Source: cursdeguvernare.ro; Date: 2015-11-27; Author: Unspecified) The draft budget that will be sent to the Parliament on December 10 is built on the structure of the previous cabinet's budget. Since the new cabinet has pledged to go forward with all the fiscal measures passed by Ponta, including the increase in state salaries, the next budget will show a deficit of 2.95% of GDP. Top |
Investment News (3) |
Cluj social center rehabilitated (Source: zf.ro; Date: 2015-11-27; Author: Unspecified) The Cluj-Napoca City Hall has completed the rehabilitation and modernization of the city's integrated social services center for the elderly. The project was financed with EUR 1.2 million in European funds and the work was carried out by TCI Contractor General. Top |
Leroy Merlin opens first Sibiu store (Source: zf.ro; Date: 2015-11-27; Author: Unspecified) Leroy Merlin, one of the largest DIY retailers in the world, will open on December 4, in Sibiu, its eighth Romanian store. The new store has a retail area of 11,000 sqm and is located in Shopping City Sibiu, next to Carrefour and Auchan. Top |
Mudura family invests EUR 60 million in new Oradea mall (Source: economica.net; Date: 2015-11-27; Author: Unspecified) The former "Infratirea" Oradea factory will become a real estate project. The Mudura family, which owns the mall Lotus Center in Oradea, will invest EUR 60 million in developing a real estate project of 147,000 sqm at the site of the former "Infratirea" Oradea factory. The project will include both a new mall and residential and office space. Top |
Legislative News (2) |
State to benefit from debt relief bill (Source: cursdeguvernare.ro; Date: 2015-11-27; Author: Unspecified) The debt relief bill passed by the Chamber of Wednesday could come into force in January, 2016, at the earliest. The same month will see the coming into force of the new fiscal measures, which means that the state may turn out to be one of the main beneficiaries of the debt relief bill. Top |
PM Ciolos says royalties increase bill should be subject to public debate (Source: economica.net; Date: 2015-11-27; Author: Unspecified) Prime Minister Dacia Ciolos stated that any discussion regarding the royalties increase bill should begin with a public debate. Top |
Politics (2) |
Viorica Dancila: "I hope that the Ciolos Cabinet fights for the farmers' interests, just as the Ponta Cabinet did" (Source: bursa.ro; Date: 2015-11-27; Author: Unspecified) "I am certain that the agriculture sector and the rural development programs could help Romania develop. There are still major gaps in economic development and the access to services between the country's urban and rural areas. Many citizens still live in villages. The agricultural sector's development, especially small farms, the improving of education and medical services are fundamental measures for closing the gap with the EU's developed countries," said Viorica Dancila, vice-president of the EP's AGRI Commission. Top |
Minister Petre Toba under suspicion of plagiarism (Source: cursdeguvernare.ro; Date: 2015-11-27; Author: Unspecified) The Minister of Internal Affairs and former head of the Police, Petre Toba, has joined the list of dignitaries suspected of having resorted to plagiarism in their PhD theses. According to a source, more than 250 pages out of 390 seem to have been copied from various other works. Top |
Social (1) |
Children poverty indicators worsened for Romania (Source: adevarul.ro; Date: 2015-11-27; Author: Unspecified) Romania is the only country where the children poverty indicators have worsened since the accession to the European Union. 48.5% of Romania's children are exposed to poverty or social exclusion risks, according to the Eurostat. The highest risks are faced by rural and Roma children. Top |