Romania Feed

OTP Bank Romania on Monday said it increased the interest rates on 1- and 3-month term deposits in lei by 0.4% and 1.10%, reaching up to 5.10% and 6.10%, respectively.

The European Commission (EC) said on Monday (August 8) that it approved a EUR149 million Romanian scheme to support the production of renewable hydrogen.

Real estate developer Speedwell has sold 75% of the shares held in the MIRO office building in capital city Bucharest to Hili Properties, the real estate investment division of Malta’s Hili Ventures Group.

The Bucharest Stock Exchange (BSE) and Depozitarul Central continue the digital transformation efforts by launching the Investors Enrollment Platform with the help of its partners, Aurachain and eVOTE, in line with a statement released on Monday (August 8).

Romania’s modern office space stock has gone beyond 4.3 million square meters in the first half of this year, with 76% concentrated in Bucharest and is set to hit 4.7 million square meters in early 2023, up 9%, in line with a report by real estate consulting firm CBRE Romania.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, increased to 8.14% a year on Monday (August 8), higher by two basis points than the 8.12% level recorded on Friday (August 5), as per central bank data.

Simtel Team, a Romanian engineering and technology company, announced that on August 5, 2022, Pavel Holding, the investment vehicle owned by brothers Adrian and Dragos Paval of Dedeman, owned an 8.157% stake in the company’s total stock.

Sindan Pharma, part of Teva group, set up more than three decades ago in Bucharest, reported RON14.7 million profit in 2021, up 30% from 2020.

Softronic Craiova, Eastern Europe’s sole producer of electrical multiple units and locomotives, controlled by four Romanian entrepreneurs, ended the first half of this year with 49% higher turnover against the year-earlier period, according to the company’s officials.

Construction materials producer Daw Benta, owned by Remus Aurel Benta and German concern Daw SE, has a EUR15 million investment plan for the next two years.

Romania’s annual inflation rate is expected to post minor fluctuations in the third quarter of 2022, then enter a gradual downward path for three quarters and fall slightly below the mid-point of the target at the end of the projection horizon, the central bank’s Executive Board said in a statement regarding the monetary policy decisions made on Friday (Aug 6).

Allianz Group, present on the Romanian market through insurance company Allianz-Tiriac, on Friday said it ended the first half of 2022 with total revenues of EUR81.2 billion, up 7.2% on the year, data from Allianz representatives showed Friday.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Romania’s import-export bank Eximbank a term deposit without extension in the amount of RON198.9 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Friday (August 5).

The transaction whereby Romanian natural gas producer and supplier Romgaz (SNG.RO) acquired in early August 2022 US ExxonMobil’s ownership stake in the Neptun Deep gas exploration and drilling project in the Black Sea was funded from Romgaz’s own sources and from a syndicated bank loan worth EUR325 million.

Romania's central bank has decided at its board meeting on Friday (August 5) to raise its benchmark interest rate to 5.50% a year from the current rate of 4.75% a year, starting August 8, 2022.

Romania's finance ministry will be launching a new bond issue for the general population, under the Tezaur program, on Monday (August 8), available for subscription in the period August 8-26, 2022.

The Bucharest office of CEE / SEE law firm Wolf Theiss announces the promotion of Cornelia Postelnicu with the Corporate / M&A practice group and Andreea Tudorache and Alexandru Asaftei (both with the Banking & Finance practice group) to the positions of Senior Associate.

The VC funding in Romania in the second quarter of 2022 (some EUR30 million) was worth roughly one-third of the funding in Estonia, Ukraine and Hungary - each of them with just over EUR100 million raised in the quarter, as per the VC Funding in CEE Report – 2Q/2022 compiled by Vestbee, the leading platform for startups, VC funds, accelerators, and corporates in CEE.

The number of real estate deals in Romania stood at 57,310 in July 2022, 4,364 more than in June 2022, data from the national cadaster agency ANCPI showed Friday.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, inched up to 8.12% a year on Friday (August 5), higher by one basis point than the 8.11% level reached on Thursday (August 4), as per central bank data.