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Banks seem to be playing a losing hand in the battle on the Law of giving in payment.

The banks that report to the BIS (Bank of International Settlements) have reduced their foreign exposure to Central, Eastern and South Eastern Europe (CESEE) in Q3 2015, according to a report of the "Vienna Initiative".

Nassim Nicholas Taleb, the author of books such as "The Black Swan" and "Antifragile" that set the benchmark on discussing the fragility of the banking system, recently wrote on his Twitter account: "I wasn't worried about...

"Humanize the banking market!"; this is the artistic interpretation which Adrian Vasilescu, a strategy consultant with the National Bank of Romania, gives to the European Directive 17/2014 concerning consumer loans.

Former prime-minister Victor Ponta reacted out of the blue yesterday, when he saw that the former delegate minister for the business sector Lucian Isar is being heard at the National Anti-corruption Department, and accused Isar of having asked...

The risks for the US economy are rising, according to the statements of the president of the Federal Reserve (Fed), Janet Yellen, who indicated yesterday that the institution that she leads to postpone a new hike of the interest rate after it was...

The biggest German bank has been forced to reassure its investors that it can meet its liabilities this year, including the coupons for the convertible bonds issued to raise tier I capital.

China's currency reserves have reached their lowest level in the last four years, as the central bank in Beijing (PBOC) sold dollars to support the exchange rate of the yuan.

There is no more time for future outlook, postponements or lengthy debates.

Communications minister Marius Bostan hints that it will take some time until the privatization of the stake that the state holds in Telekom România (former Romtelecom), because the authorities have not yet selected the appropriate method - sale...

When banks feel threatened by the passing of new draft laws or when they urgently need the help of the state, the ghost of the imminent collapse of the financial and economic system is aggressively "pushed" before the public and the...

The unemployment rate in Germany has fallen to a new all-time low in January, as the number of jobseekers fell more than expected, according to data published yesterday by the Federal Labor Office in Berlin.

Senators have begun their winter session with a one-week postponement of the Law on Giving in Payment, at the request of the banks' representatives, who claimed that they did not have enough time available to study the amendments.

Reporter: How did the relation between Romania and your country evolve over the past year?

The Court of Accounts has identified several violations of the legal regulations in effect, at the National Tax Administration Agency (ANAF).

In its 2014 audit, the Court of Auditors has found that the state had still not implemented the obligations which the Court had set for it back in 2009, concerning the share capital increase of "OMV Petrom" by the amount of the plots of...

The National Bank of Romania is hell-bent on embarrassing itself, claiming that its employees are not required to disclose their revenues, in an official response to an enquiry formulated by the BURSA editorial office.

The Zuzu and Fulga brand will enter the portfolio of French group Lactalis, after the shareholders of "Albalact", the biggest company with a majority local shareholder in the milk industry, have concluded a sale agreement.

Banca Comercială Carpatica (BCC) is going down the road of the merger with Nextebank, after a few other failed attempts, so far, and after resounding failure of the talks with American fund JC Flowers.

Telekom România has reached the height of absurdity, by restricting the calls available to customers who had "unlimited" plans, after they exploited a Vodafone promotion, which rewarded those who received calls on Vodafone phone numbers,...

The EU member states have asked the European Commission on Monday to prepare extensive border checks as part of the Schengen Space for a period of up to two years, while the reinstating of temporary border controls may only last for a maximum of...

The Chinese stock markets have fallen to a 13-month low, as investors fear that capital outflows will be increasingly bigger as the economy slows down.

The Financial Oversight Authority (ASF) has taken the Proprietatea Fund to court to recoup the amount of 958,686 lei (principal and interest), representing certain regulation commissions which would have normally been payable to the ASF, but...

The economic Forum in Davos has ended on Saturday, January 23rd, after four days of heavy debates around a multitude of extremely interesting subjects, which I have informed you about in the previous reports.

France and Italy have cut their government debt in Q3 2015, as the Eurozone countries have made efforts to cut their public spending.

I've been thinking for one night and one day, but I still couldn't figure out why Jean Claude Juncker said that, without the Schengen Space, the Euro itself is losing its reason to exist.

An increasing number of European officials and analysts are threatening with the end of the European Union, whereas a few years ago that kind of statements was inconceivable.

The message which the president of the National Bank of Switzerland (SNB), Thomas Jordan, conveyed at the end of last week, is an atypical one, economists think, and they emphasize that no central banker makes random statements.

While in Bucharest, on Friday, Swiss franc borrowers have protested against the NBR claiming that the central bank does not represent the consumers' interest, Poland's Presidency has proposed a draft law for the conversion of zlotys of...

The Ministry of Communications is reviewing the possibility of getting the Romanian Postal Office listed on the Bucharest Stock Exchange, after the privatization process failed, in autumn last year, according to the statements of minister Marius...

A powerful decline of the franc would be welcome this year for the Swiss economy, which has been under a lot of pressure last year, after the removal of the minimum peg on the Swiss Franc/ CHF ceiling, SNB president Thomas Jordan thinks.

The protesters who took to the street after the Colectiv tragedy were contesting Gabriel Oprea because of the death of policeman Bogdan Gigină, who was leading the path of the minister's official convoy, and of the fire of the...

Shares traded on the Chinese stock exchanges fell sharply yesterday as well, after a "brutal" year beginning (last week), amid worries concerning the slowdown of the country's economy.

The Directorate and the Supervisory Board of SIF3 Transilvania have decided to revoke the convening of the General Ordinary Shareholder Meeting of February 15th/16th, 2016, after the court suspended the request of a group of shareholders to have...

In the latest press conference of the NBR, governor Mugur Isărescu also mentioned the law of giving in payment, and stated that the reexamination of the draft law must take into account the recommendations received from the European Central Bank.

The markets in China have seen a new major decline yesterday, which caused the triggering of the "circuit breaker" mechanism, which halts trading to reduce volatility, for the second time this week.

The confidence in the ability of the major central banks to fix the mistakes from the period that predates the financial crisis has just been dealt a powerful blow.

Mişu Negriţoiu, the president of the Financial Oversight Authority (ASF), seems to have forgotten his self-declared goal he announced in the beginning of his term - the "depoliticization" of the institution, as written in a response sent...

The unemployment rate in Germany stayed at 6.3% in December 2015 - the lowest level since the reunification of the country in 1990 -, an evolution which places the biggest European economy on a solid position in the beginning of this year.

Shares of Banca Comercială Carpatica (BCC) have risen substantially lately, amid the repeated announcements about the agreement with American fund J.C. Flowers to acquire the Sibiu-based lender, but it would seem that the transaction has been...