The net assets of the 227 open and close funds, local and foreign dropped in July by 0.4% down to the level of 50.2 billion lei (10.2 billion euro) and since the beginning of the year they have increased by 12.9% informed the Association of the Managers of Funds (AAF). The most performing five funds over the last twelve months registered net annual yields 40% and 58% : on a horizon of 36 months, the most performing five funds had yields between 50.2% and 65.4% obtained over the last three years (against July 2018). The net assets of the 84 local open funds have increased in July by 1.3% up to 25.3 billion lei (5.15 billion euro) and since the beginning of the year they have increased by 14.2%. The open local funds have registered in July net inflows of 327.3 million lei (66.5 million euro), being aimed at diversified funds (96.1 million lei), those reunited under the category ‘other funds’ (92 million lei), the shares ones (83.4 million lei), the ones with bonds and fixed revenue instruments (50.6 million lei) and those with absolute yield (5.2 million lei). The net assets expressed in lei of the 111 foreign open funds distributed in Romania have increased in July by 7.3% against the previous month, up to 1.6 billion lei (0.32billion euro) and since the beginning of the year they have increased by 59.8%. The net assets of the 32 closed funds (including SIF and FP) dropped by 2.6% in July down to 23.3 billion lei (4.7 billion euro) and increased by 9.4% since the beginning of the year: the local closed funds had inflows of 7 million lei (1.4 million euro) in the reported month.
Ionuț Costea, former head of EximBank, and Sebastian Vlădescu, former finance minister, were released on November 5 following an extraordinary prescription procedure, according to a statement from Romania's High Court of Cassation and Justice (ICCJ). The two had been sentenced in 2023 to six and seven years in prison, respectively, for taking a EUR 5.5 […]
Prime minister Ilie Bolojan, who also serves as president of the Liberal Party (PNL), stated on November 4 that, at the meeting of the party's National Political Bureau the same day, support was renewed for resolving the issue related to special (magistrates') pensions this month, but also for the reform in public administration, according to
Knauf Insulation Romania, the local subsidiary of a division of the German group Knauf, has officially inaugurated its new glass mineral wool factory in Târnăveni, Mureș County, after an investment of EUR 140 million, for which the company also received EUR 18 million in state aid. "Our factory in Târnăveni, equipped with state-of-the-art technology, has […]
Corden BioChem, an expert in industrial biotechnology, could resume production at the bioethanol factory it took over from Swiss Clariant in southern Romania (or "Lesser Wallachia" as indicated by the company) at Podari, after the Competition Council authorised the takeover of the steam and electricity supplier. The company announced on its website that the Podari […]
Romania’s general government budget deficit can drop below 6.5% of GDP next year, possibly approaching 6% of GDP, to further drop below 5% of GDP if the tax evasion and tax avoidance are addressed, the head of the Fiscal Council, Daniel Daianu, said, speaking in a conference organised by Curs de Guvernare, as reported by […]
The Purchasing Managers' Index (PMI) compiled by BCR Romania for the manufacturing sector plunged to 47.6 points in October – the weakest reading in seven months – dragged down by the deterioration in the volume of new orders and volume of actual output. The decline wipes out the progress seen over the past six months, […]
