Category: Uncategorized

Bank analysts turned more cautious about predicting an imminent rate cut at the May 13 board meeting of the National Bank of Romania (BNR), as both domestic and external developments over the past month are supporting a more cautious approach on the side of the monetary authority. The concerns are mostly related to the impact…

The retail investors placed orders for 47 million shares of Premier Energy during the first three days of the one-week IPO carried out by the natural gas and electricity utility company – more than six times the 7.5 million package initially earmarked for them (including the 20% supplementary option), according to Ziarul Financiar. The retail…

Romania’s trade deficit (goods only) narrowed by 1.5% y/y to EUR 6.7 billion in Q1, marking the fifth consecutive quarter of negative annual dynamics, according to data published by the statistics office INS. Subdued industrial activity and lower imports of automobiles (a significant foreign trade item) due to weak sales driven by delayed government-backed schemes…

Romania’s prime minister, Marcel Ciolacu, said in the evening of May 12, speaking for Antena 3, that the minister of defense Angel Tîlvăr expressed in a discussion “serious reservations” about the possibility of Romania giving a Patriot defense system to Ukraine.  “But the decision is taken together with the president in the country’s supreme defence…

Banca Transilvania, the financial group that includes the largest bank in Romania by assets, announced its consolidated net profit increased by 35% y/y to RON 1.13 billion (EUR 226 million) in Q1.  The bank’s net profit was RON 913 million, marking the same 35% annual advance. The group’s assets reached approximately RON 176 billion, while…

Chimcomplex (BVB: CRC) announced it completed a EUR 2.4 million (eligible value) project aimed at implementing innovative green technology to produce new environmentally friendly polyols on April 30. The project was implemented at the industrial platform at Ramnicu Valcea (formerly Oltchim platform), and it was co-financed through the “Business Development, Innovation, and SMEs” program, with…

The Czech agri-food group Agrofert, controlled by former prime minister Andrej Babis, received the European Commission’s approval to take over the Romanian grain and oilseeds trader East Grain.   The transaction relates primarily to a 65% stake in the Romanian company, taken over through a capital increase, Ziarul Financiar reported. East Grain, part of East…

A recent investigation conducted by Romanian journalists at Recorder claims to show that Vlad Oprea, the mayor of Sinaia, a popular mountain town roughly 120 km north of Bucharest, has an impressive fortune hidden from public view. He allegedly owns several properties, including a castle in France, which was bought under the name of one of his…

Retail investors subscribed over 23.3 million shares in the first three days of the initial public offering carried out by energy group Premier Energy (PE). There were over 10,000 orders placed by retail investors, amounting to over RON 500 million (100 mln), as of Friday, May 10, at 15:15. The Premier Energy IPO is the…

Romania ranked second in the region in terms of industrial & logistics spaces leased in the first quarter of 2024, after Poland, the uncontested leader in Central and Eastern Europe, according to a recent report by real estate consultancy company Cushman & Wakefield Echinox. The local demand surpassed that in Czechia, Slovakia, and Hungary. Companies leased…