The three-month ROBOR index, which is used to calculate the cost of consumer loans in RON with variable interest rates, rose on Friday to 5.58% per year, up from 5.56% per year in the previous session, according to data published by the National Bank of Romania (BNR).At the beginning of the year, the three-month ROBOR index was 6.21%, and on January 3, 2023, it was 7.56%.The six-month ROBOR index, used to calculate interest rates on mortgage loans in RON with variable interest rates, increased to 5.62% per year, from 5.60%, while the 12-month ROBOR rose to 5.66%, from 5.65%.As for the reference index for consumer loans (IRCC), regulated by Government Emergency Ordinance (OUG) 19/2019, it stands at 5.99% per year, calculated as the arithmetic average of the daily interest rates of interbank transactions for Q2 2024, up from the previous quarter's value of 5.86%.In May 2019, OUG 19/2019 came into force, modifying the way the interest rate for RON loans with variable interest rates is calculated. The regulation established the reference index for consumer loans (IRCC), which is calculated quarterly based exclusively on interbank transactions.
East Grain Group and Poultry Investment SA have acquired the 45% stake previously held by UBM Group in UBM Feed Romania, thus becoming equal shareholders in one of Romania's largest feed producers, which will now operate under the brand Protena. East Grain is controlled by Czech agri-food group Agrofert, one of the largest agribusiness groups […]
The Foreign Investors Council (FIC) has appointed Ruxandra Băndilă as its executive director. Băndilă will coordinate FIC's activity and "will contribute to strengthening the dialogue with authorities, consolidating the organization's positioning as a reliable partner in promoting a stable and predictable business environment, as well as supporting Romania's becoming a competitive and attractive destination for […]
Romania’s European projects and investments minister, Dragoș Pîslaru, announced that he will notify the European Public Prosecutor’s Office (EPPO) regarding the purchase of electric minibuses for students with EU funds. The minister said that “multiple dysfunctions” were noted in how the EU funds were used in the project. Aside from notifying the EPPO, the minister […]
Only about 44% of employees in Romania say they have used AI in the past year, while the average usage rate in the 48 countries included in the report was 57%, according to the PwC Workforce Hopes and Fears Survey 2025 report. India and Vietnam are at the top, with 84%, followed by China (78%). […]
A new four-star hotel is set to rise next to Bucharest’s Henri Coandă International Airport, following a EUR 45.5 million investment announced by real estate developer D. GROUP. The Wyndham Garden Bucharest Airport Hotel, scheduled to open in July 2027, will introduce the Wyndham Garden brand to Romania for the first time. Located 150 metres […]
Romania ranks 3rd in a European heatwave vulnerability ranking and will experience 3 heatwave events annually, lasting 17 cumulative days with average temperatures of 36.82°C, placing it ahead of all Mediterranean countries, according to new research from climate system experts at Reinders Corporation. The study analysed climate modelling data, heatwave frequency, and average temperatures across […]
