Romania's Finance Ministry raised RON500 million from banks on Thursday (Sept 26), selling government paper at an annual average yield of 6.04%.
FFintechOS, an end-to-end financial product management platform, plans to recruit sales specialists for Western Europe and software development experts in Romania.
London Stock Exchange Group (LSEG), a global provider of financial markets data and infrastructure, has expanded its presence in the Romanian market with the opening of a new office on Sept 26, in the city of Cluj-Napoca, besides the technology and operations center in capital city Bucharest.
The European Bank for Reconstruction and Development has downwardly revised its forecast for Romania’s economic growth in 2024, to only 1.4%, compared with 3.2% projected in May 2024, while counting on a slight recovery in the second half of 2024 despite the need for fiscal consolidation, as per the Bank's regional repot released on Sept 26.
Prodvinalco (VAC.RO), a company majority-owned by Mircea Todea, Vasile Albon and Marcel Hosu, posted RON11.2 million net profit in the first half of 2024, 43% higher than in the year-ago period.
The exchange rate has a short-term upward potential, with a target of RON5 to the euro, which is largely driven by lower bond yields, driving investors to put tactical bets on the euro in hopes of short-term gains, according to analysts of iBanFirst, a leading global provider of foreign exchange and international payments, operating in 10 European countries.
The average gross monthly earnings registered at the level of the national economy in 2023 were RON7,042, higher by 15.0% (+RON916) than the previous year, and the average net monthly earnings were RON4,412, increasing by 16.1% (+RON611) compared to the previous year, as per data from the country's statistics board INS.