Daily Newsletter
04 October 2018
Summary
- CDR: Too many emergency decrees (Multiple sources )
FIC (1) |
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CDR: Too many emergency decrees
The Coalition for Romania's Development (CDR) announced that the lack of public debate creates the premises of an unstable system of laws and will hurt the development of the Romanian society. According to CDR, Romanian authorities make too much use of emergency decrees. CDR criticizes lack of public debate regarding major public projects Top |
Macroeconomic News (3) |
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Retail turnover up 1.7% in August
The aggregated turnover reported by the retail sector increased by 1.7% (adjusted for the number of working days and season) in August. The figure is much lower compared to the previous month, according to the National Statistics Institute (INS). Top |
Eurostat: Romanian industrial prices showed second highest increase in EU
Romanian industrial prices showed second the highest increase in the European Union, behind Latvia's, according to the European statistics bureau. EU data showed that Latvian industrial prices were up 2.1%, followed by Romania with 1% and Denmark with 0.8%. Top |
The industrial production prices index dropped to 5.86% in August, but stayed significantly above the 5.06% consumer price index. Since the industry sets the tone for the entire economy, any price problem is a general competitiveness problem. Top |
Financial News (3) |
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BNR keeps key interest rate at 2.5%
The National Bank of Romania's (BNR) board of directors decided on Wednesday to keep the key interest rate at 2.5% per year, thus confirming the expectations of most analysts. The interest rate of the deposit and credit facilities were also kept at 1.5% and 3.5%, respectively. Top |
Isarescu: "We're thinking of putting the borrowing market on a sound basis"
The National Bank of Romania (BNR) is thinking of putting the borrowing market on a sound basis for the good of consumers and industry, according to statements made by Governor Mugur Isarescu yesterday. "It's for the good of consumers, of credit users, to evaluate their repayment capacity properly so there will be no more surprises," said Isarescu. Top |
Patria Bank sells almost 10,000 retail contracts to Kruk
Patria Bank has signed a deal with Polish group Kruk, which specializes in debt collection, for selling a portfolio of around 9,800 unsecured consumer loans granted to retail clients. The portfolio is worth approximately RON 245 million. "This deal allows us to unload some of the bad loans resulting from the merger of Patria Bank and the former Banca Comerciala Carpatica. A second portfolio sale project will be implemented before the end of this year," said CEO Bogdan Merfea. Top |
Legislative News (1) |
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PSD loses UDMR support for offshore bill
The Chamber of Deputies voted to send the offshore bill back to commissions on Wednesday. The apparently surprising request was made by Kelemen Hunor, leader of the Democratic Union of Romanian Magyars (UDMR). The bill had been reported out by the Industry, Budget and Administration Commissions with UDMR support, but the introduction of new amendments at the last minute by PSD deputies triggered stiff opposition from UDMR and ALDE. Top |
Politics (2) |
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Dacian Ciolos blasts PM Dancila over EP speech
Former prime minister Dacian Ciolos criticized PM Viorica Dancila's performance before the European Parliament. "It's a national shame to be told to stop lying to the European Parliament," said Ciolos. Moreover, Ciolos warned Dancila that she would be held responsible for her actions. Top |
Ludovic Orban: "We're warning the Government to stop the anti-EU rhetoric"
The debate held by the European Parliament has revealed that the Government cannot justify the actions of the PSD-ALDE majority against the judiciary, the rule of law and the rights and liberties of Romanian citizens, reads a press release published by the National Liberal Party (PNL). Top |
Social (1) |
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Penitentiary unions announce protests
The Labor Federation of the National Penitentiary Administration (FSANP) announced that more than 300 members will protest in front of the Ministry of Justice on Wednesday. The employees are angry with what they see as Minister Toader's "indolence and incompetence" and demand better working conditions, overtime and the elimination of payroll discrimination. Top |