The Ministry of Finance has planned for October 2023 loans from commercial banks in the amount of 5.8 billion RON, to which the sum of 795 million RON can be added through additional sessions of non-competitive offers, related to bond tenders.The total amount, of 6.595 billion RON, is 260 million RON lower than the one that was scheduled in September, of 6.855 billion RON, and will be intended for refinancing the public debt and financing the state budget deficit.According to the prospectus published in the Official Gazette, on October 16, a tender will be organized for an issue of treasury certificates with a discount, in the amount of 500 million RON, with maturity on April 29, 2024.Also, during the month of October, nine issues of benchmark bonds will be launched, with a total value of 5.3 billion RON, followed the next day by an additional session of non-competitive bids, with a value of 15% of the value initial bond issue (795 million RON in total).Thus, tenders were scheduled for a bond issue of 400 million RON, on October 30, one of 500 million RON, on October 19, two issues of 700 million RON, on October 26 and for five issues of 600 million RON on October 2, 5, 9, 12 and 23.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
