June | News

LAHORE - Punjab Chief Minister Maryam Nawaz Sharif has issued a firm directive to complete all projects under the Lahore Development Plan by June 30, setting strict monthly timelines for progress monitoring.

The federal government has officially invited expressions of interest (EOIs) from potential investors for the privatisation of Pakistan International Airlines (PIA), marking a major development in its bid to offload a controlling stake in the national flag carrier. According to the Privatisation Commission, the decision has been made to sell between 51% and 100% of PIA shares, along with management control, to the prospective buyer. Interested parties have until June 3, 2025 to submit their EOIs. As part of the process, the government has announced a number of incentives for investors. These include relief from 18% general sales tax (GST) on the purchase or lease of new aircraft. Additionally, protection and coverage will be provided in certain tax and legal cases, the commission stated. The move also involves the transfer of specific liabilities listed on PIA’s balance sheet, aimed at making the offer more attractive to potential buyers. This privatisation effort is a central component of the government’s br...

The IRCC, which banks use to set the interest rate for new loans taken since the spring of 2019, will stand at 5.55% a year in April 1 -June 30, 2025 period, lower than the 5.66% level set for the previous quarter, as announced by Romania's central bank on Monday (March 31).

AnimaWings, an airline held by brothers Cristian and Marius Pandel, the founders of Christian Tour, will launch charter flights between Monastir MIR (Tunisia) – Brasov GHV – Monastir MIR, every Friday from June 6, 2025, the Brasov Airport announced.

Alex Melcovich BH SRL, a Merlins Beverages group company, expects to finalize the investment it has in progress in June, for which it will receive state aid through Government Decision No. 959/ 2022.

The imports of the Nissan brand could go to a new consortium as of June 1, 2025, sources on the Romanian auto market say.

The average net salary in Romania increased by 1.3% in nominal terms in July 2024 compared to June 2024, to 5,242 (EUR1,054), data from the country's statistics board INS showed on Thursday (Sept 12, 2024).

One Pillar II pension fund, Metropolitan Life Pensii Private, bought 35% of the MedLife (M.RO) shares traded on the Bucharest Stock Exchange in June 2024, data aggregated by ZF show.

Pentalog Romania S.R.L. and Pentalog HR Romania S.R.L., the subsidiaries of software company Globant, merged at the end of June 2024, as per shareholders' decision published in the Official Gazette.

The average net salary in Romania increased by 1.1% in nominal terms in June 2024 compared to May 2024, to 5,176 (EUR1,056), data from the country's statistics board INS showed on Monday (August 12, 2024).

Russian Security Council Secretary and former Defense Minister Sergei Shoigu heavily overexaggerated Russian advances in Ukraine since mid-June 2024.

Romania's industrial production prices for the total (domestic market and non-domestic market) rose 1.1% in June 2024 compared to June 2023, data from Romania’s National Statistics Institute INS showed on Friday (August 2, 2024).

Romania’s unemployment rate stood at 5.5% in June 2024, higher by 0.1 percentage point compared to May 2024, data from the country’s statistics institute INS show on Thursday (August 1, 2024).

Economic analysts expect the inflation rate to go down over the next 12 months to reach an average of 4.6% in June 2025 and see the leu depreciating against the euro to RON5.0722//EUR in mid next year, a survey by CFA Romania association shows.

Private lending in Romania went up 6.7% to RON400.6 billion in June 2024 compared with June 2023, central bank data showed on Tuesday (July 23, 2024).

Romania's annual inflation decreased to 4.9% in June 2024, compared to 5.1% in May 2024 and 5.9% in April 2024, data from the country's statistics board INS showed on Thursday (July 11).

In June 2024, inflation in Ukraine's consumer market was 2.2% compared to May; a month ago, consumer prices rose by 0.6% compared to April.

Five-star Radisson Blu Hotel in Cluj-Napoca developed by Winners Park Invest and opened in June 2022, operated at an average occupancy rate of 70% in June and entered high season, considering the events scheduled in Cluj-Napoca.

The manufacturing production level declined in June 2024 for the first time in the last three months, just like the employment level, and cost pressure has increased, according to a report regarding the BCR PMI® index for the manufacturing industry.

Romania's foreign exchange reserves stood at EUR64.39 billion at the end of June 2024, compared with EUR65.07 billion on May 31, 2024, central bank data showed on Monday (July 1, 2024).