Wall Street bank JPMorgan said on Tuesday it was going long on the euro versus the Romanian leu in FX spot markets, with the country's intervention policy seemingly shifting after Sunday’s first-round presidential election, https://www.reuters.com/ informs. . The bank said that the leu's movements following the win of George Simion, the country's hard-right eurosceptic opposition leader, in the first round of Romania's presidential election re-run on Sunday raised the chances of a devaluation. In a recent note, the bank had sketched out scenarios including a 3-5% devaluation and a 15-20% devaluation. "We would argue for a 50/50 probabilities between the two devaluation scenarios but the developments on the ground will matter hugely as well," JPMorgan's Anezka Christovova said in a note to clients. However, Christovova said that a different second round outcome of the presidential elections or a change in Simion's rhetoric would alter these probabilities. "We...go long EURRON spot (assuming daily rolling of funding) aiming initially for a 5% total move from pre-intervention levels."
EuPlătesc.ro, one of Romania’s leading payment processors, has added Visa’s Click to Pay solution to its portfolio, offering retailers a modern, secure, and efficient online payment method. According to Visa estimates, this solution has the potential to increase online revenue for European retailers by up to 30%. Through this integration, EuPlătesc strengthens its mission to […]
In a decisive step toward digital inclusion and in alignment with the European Accessibility Act, ASSIST Software and Ștefan cel Mare University of Suceava (USV) have officially launched A(I)BILITIES, a groundbreaking AI project designed to create adaptive, personalized user experiences for people with disabilities. The initiative is powered by generative AI technologies and aims to […]
Diana Buzoianu, Romania’s new environment minister, announced on Wednesday, July 16, that “Rabla,” the government-sponsored scrappage scheme aiming to replace older, polluting cars with newer models, will be resumed with a RON 200 million budget. The minister made the announcement on her Facebook page, highlighting the budgetary difficulties facing the Romanian executive at the moment. […]
Around 88% of Romanians declare they love their country and are proud of it, but only half believe it offers a good future for their children and future generations, according to an INSCOP Research survey. Around 75% of Romanians completely agree with the statement “I love Romania and I am proud of my country,” while […]
Maramureș International Airport in northern Romania has submitted a funding request for the implementation of a renewable energy project aimed at constructing a 2.5 MW photovoltaic park and an integrated battery storage system. The application was officially filed on July 14, according to the official announcement. The investment will cover the airport’s full electricity needs […]
Romania will face some of the most severe economic consequences of heatwaves in Europe, with projected losses expected to exceed -2.5% of GDP by 2055–2064 due to lowered labor productivity, according to research published in Nature Communications and quoted by Euronews. ...
