The Romanian banking sector is not directly exposed to the risks associated with the conflict in Ukraine, and the attracted deposits amount to a modest value for our system, of 17.9 million lei for Russia and 40.7 million lei for Ukraine, Leonardo Badea, vice president of the National Bank of Romania (BNR), said on Thursday."The Romanian banking sector is not directly exposed to the risks associated with this conflict [from Ukraine - editor's note]. Exposures of the credit institutions are low in respect to the trade-off with Russia or Ukraine, there are no such granted loans and advances in balance sheets, and the attracted deposits amount to a modest value for our system, of 17.9 million lei for Russia and 40.7 million lei for Ukraine, according to the data from December 2021. About 300 enterprises running on capital from Russia have been identified, but the role these firms play among the total non-financial companies in insignificant, as they generate 0.1pct of gross value added, produce 0.66pct of turnover, hold 0.2pct of the total assets of non-financial companies and employ 0.08pct of the total number of employees," said Leonardo Badea, at the European Financial Services Conference ECFS2022, organized by the Institute of Financial Studies.According to him, the exposures of credit institutions in Romania to domestic companies running on Russian capital are very low, of 71 million lei. The long-term private debt to non-financial creditors of Russian companies stood at 145 million euros at the end of 2020.He also referred to the impact on the energy sector, noting that between January and November 2021, 70pct of the gas consumed in Romania was from local production and only 10pct of the total consumed by Romania was supplied by Russia.
The Patriarch of the Romanian Orthodox Church, Daniel, congratulated Pope Leo XIV for succeeding Pope Francis on Thursday, May 8. He expressed confidence that the new pope will continue to promote "the spirit of dialogue, peace, and cooperation between the Roman Catholic Church and the Orthodox Church." "In a world facing multiple spiritual, economic, and […]
The organizers of the Untold festival announced they will offer a RON 150 (EUR 30) voucher toward the purchase of a festival pass to anyone who votes on May 18, during the second round of the presidential elections. In an online message, Untold representatives emphasized the connection between civic participation and the future of every […]
The Open Streets program, which sees the city's major arteries close for car traffic and become pedestrian areas, returns this weekend with a program of exhibitions, concerts, and a Festival of Lights. On Saturday, May 10, at 2:00 p.m., the public is invited to the Made in Romania exhibition, which presents a selection of civilian […]
Joseph Stiglitz, the famous economist and professor at Columbia University in New York, and winner of the Nobel Prize in economy in 2001, told an audience in Cluj, Romania, that governments must stimulate exports and key sectors when facing deficits. Stiglitz was in Romania on Thursday, May 8, to receive the title of Doctor Honoris […]
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
