The 3 months ROBOR index , according to which the cost of consumer credits in lei with variable interest rate is calculated, went up to 4.70% per year on Thursday, from 4.68% per year the previous day, according to data released by the National Bank of Romania (BNR). A higher index level was recorded in 2013 – 4.74% per year. At the beginning of 2020, ROBOR index for 3 months was 3.19% per year, and at the beginning of 2021 it was 1.98%. The 6 months index, used to calculate interest rates for mortgages in lei with variable interest rate went up to 4.80% per year, from 4.78% on Wednesday, while ROBOR for 12 months climbed to 4.86% per year, from 4.83% per year. The BNR Administration Board decided two days before to increase the monetary policy interest rate to 3%per year, from 2.5% per year, as of April 6, 2022, and maintain strict control of cash flow in the monetary market. The reference index for consumer credits is 1.86% per year, being calculated as average of daily interest rates of interbank transactions in quarter 4, 2021, on the rise compared to the one published 3 months before of 1.17%. In May 2019, government order 19/2019 came into force to modify the way in which interest rates are calculated for credits with variable interest rates in lei. The order established the reference index for consumer credits calculated on a quarterly basis based on interbanking transactions.
The Atlantic Council will honor Romanian president Klaus Iohannis with the Distinguished International Leadership Award for his remarkable career, exemplary leadership of Romania, and his transatlantic and European leadership role. The Atlantic Council’s Distinguished Leadership Awards are often referred to by media as “the Washington Oscars.” Among the honorees are a European head of state, […]
The colorful rapeseed fields in the southern part of Romania have been photographed by NASA from a satellite and featured in an accompanying article titled “Golden Fields in Romania.” The spectacular images were taken last month above the area where the Olt River intersects with the Danube. According to the article, NASA personnel were impressed […]
UiPath, an AI-based company founded by Romanian entrepreneurs and listed on the New York Stock Exchange in 2021, has recruited Raghu Malpani as Chief Technology Officer. Malpani, who was Corporate Vice President at Microsoft for the Microsoft 365 Application and Data Platform will report to the Director of Innovation and the Executive President of UiPath, […]
Production and new orders rise after nine straight months of decline Business confidence picks up, while hiring is back on the agenda Cost inflation eases and selling prices rise only fractionally An improvement in the health of the Romanian manufacturing sector was signalled for the first time in the survey's history, according to the latest […]
Raiffeisen Bank Romania continues its growth strategy in personal financial planning, up 50% in the first quarter of the year in the segment of investment plans, voluntary pensions and life insurance with a savings component. At the same time, it continued to support SMEs and accelerated investments to launch new functionalities in the mobile banking […]
Road crews have begun snow removal on Romania’s spectacular mountain road known as Transfăgărășan. Since there is less snow than in other years, the road could be opened much earlier than the usual date of July 1, according to authorities. Transfăgărășan, Romania’s second-highest road after Transalpina, is being cleared of snow so it can be […]
