English Section

10 iunie 2019

Italian parliament wants to introduce a currency that is parallel to the Euro

THE TARGET2 PAYMENT SYSTEM, AN INESCAPABLE TRAP FOR BANKS IN THE EUROZONE?Italian parliament wants to introduce a currency that is parallel to the Euro

The Bundesbank warned that it might suffer great losses if a major country were to leave the Eurozone and stopped payments for debts based on the TARGET2 system.

How to start a business in Luxembourg

Luxembourg is a small country that manages to present numerous and important business advantages. It is conveniently located in the heart of Europe, with an attractive business and work environment and it has a highly skilled workforce. Investors can open a company in Luxembourg by following a few key steps and afterward enjoying all that the Grand Duchy has to offer. Investors can learn how to start a business in Luxembourg in this short guide.

The benefits of opening a company in Malta

Malta has pro-business and pro-foreign investment regimes that have helped it stand out as a preferred EU location for entrepreneurs and multinational corporations. Investors who open a company in Malta have a series of benefits, starting with a low corporate income tax rate and relatively low costs for doing business.

The advantages of starting a business in Romania as a foreign investor

Romania is a country with unmistakable natural beauty, a growing economy and a talented workforce that is strategically located to important markets because of its access to the Black Sea. There are several advantages of starting a business in Romania as a foreign investor and we present these below.

"The national trade strategy does not answer Romania's current needs"

THE BURSA CONFERENCE - THE STRATEGY FOR ROMANIA'S DEVELOPMENT / ŞTEFAN-RADU OPREA, MINISTER FOR THE BUSINESS SECTOR, TRADE AND ENTREPRENEURSHIP:"The national trade strategy does not answer Romania's current needs"

We have a national trade strategy which is valid until 2020, but which does not answer Romania's current needs, says Ştefan Radu Oprea, minister in charge of the Business Sector, Trade and Entrepreneurship.

1 Euro5.0810

1 Fr. elveţian5.4596

BNR

1 Liră sterlină5.8849

BNR

1 Dolar SUA4.3461

BNR

1 Gram Aur466.3616

BET18858.05

BET FI61868.7

BET NG1363.44

Dragnea in jail, the PSD on the brink of dissolution

The day after losing the elections, Dragnea has gone to jail.

"We are going down the wrong path, we need to follow another in order to develop the stock market"

THE "BURSA" CONFERENCE ON THE CAPITAL MARKET / MAKE, THE PRESIDENT OF THE BURSA PRESS GROUP:"We are going down the wrong path, we need to follow another in order to develop the stock market"

The Romanian stock market has started going off, 25 years ago, in the wrong development direction, and we can currently stop and go another way, Make, the president of the BURSA group said yesterday, in the opening of the eighth "BURSA"...

Central banks are driving the economy towards a global "zombification"

The risk of central banks leading the economy towards a period of stagnation is increasingly evident. Both the considerable drops in the growth estimates, as well as the expectations of the central banks concerning the GDP and inflation, as well...

China wants to invest half a billion Euros in smart city projects in Romania

Smart city type projects with potential for development in Romania are becoming increasingly attractive, with foreign businesspeople showing interest in investing in that kind of businesses.

THE COUNTRY REPORT OF THE EUROPEAN COMMISSION, EXTREMELY CRITICAL TOWARDS USRomania - in the category of countries with economic imbalances

• Eugen Teodorovici: "Everybody talks about a European family, but it's every man for himself"

Wall Street - a decade under the "bull sign"

Born from the ashes of the financial crisis of 2007 - 2008, the second largest bull market in history became ten years old on Saturday, as the current historic cycle represents the second biggest economic expansion in the history of the...

GHEORGHE PIPEREA:"In Romania, nobody cares about freelancers"

Romanian freelancers, a category which includes a number of economics specialists, are facing a number of difficulties in their activity and no one cares about them and their problems, lawyer Gheorghe Piperea says.

Wages - more money, more problems

The PSD did what everybody wants. It raised wages. We all want happy Romanians. If we could, we would raise employees' wages every day, in fact, we would do so hourly.

THE NIGHTMARE OF MINISTER TUDOREL TOADER TAKING SHAPEKovesi, a favorite for the position of chief prosecutor of the European Parliament

The saying goes that whatever doesn't kill you makes you stronger. That also applies to Laura Codruţa Kovesi, the former chief-prosecutor of the National Anticorruption Department, who has been dismissed for political reasons and in the...

"If the SRI stopped protecting Isărescu, the interest rates and the exchange rate would calm down right away"

• Interview with economist Lucian Isar

EU concert, in the winter of our discontent

Jean-Claude Juncker and the College of European Commissioner are in Bucharest since yesterday, where they are attending the festivities dedicated to the official takeover by Romania of the rotating presidency of the EU council.

The bidding war between the government and the opposition, staged by the de UDMR

The versatility of the UDMR is notorious, because we are talking about a political party which has always wanted to be in the government.

CRISTIAN PÂRVAN, PIAROM PRESIDENT:"The thinness of the economy cannot be hidden behind the numbers of the GDP"

• The estimated GDP for 2019 exceeds 1000 billion lei, Finance minister Eugen Teodorovici has announced on Tuesday

WE HAVE SCHEDULED DEFENSE SPENDING OF 9.3 BILLION EUROSArmament procurement offers benefits that the Government is refusing

After many years of the army getting ignored and budget allocations that seemed more like jokes, it took the White House demanding the splitting of the military bill, for the Romanian political decision makers to accept that the army needs equipment.

Did the Federal Reserve leave the president of the US in offside?

An unexpected change in the opinion of Jerome Powell, the president of the Federal Reserve, would show that, ar first glance, the president of the United States has imposed his will.

Romanians are the prisoners of the financialization of the economy by the National Bank

Adrian Vasilescu, strategy consultant at the NBR, has caused outrage in the press and in society through his statement madea the end of last week, that Romanians affected by the introduction of the new degree of indebtedness " should get 2-3...

Illustration by MAKE and Oana B., reproduced from BUCAREST HEBDO

Theresa May defends her Brexit plan

• Jeremy Corbyn, the leader of the UK opposition: "A second referendum for Brexit is not an option for the present"

SPECIAL EDITION"The distribution of 90% of the profit does not affect the investment program of Nuclearelectrica"

Interview with Mr. Cosmin Ghiţă, interim CEO of Nuclearelectrica

"Revolut has reached 90,000 users in Romania"

(Interview with Irina Nicoleta Scarlat, Country Manager Revolut Romania)

"The National Anticorruption Department has 4804 corruption cases ongoing"

(Interview with General Prosecutor Augustin Lazăr)

THE VENICE COMMISSION CLAIMS:The new laws of justice favor offenders

• Klaus Iohannis is asking for the resignation of Tudorel Toader as minister of Justice

"The time has come to think of the renewal of our cooperation relations"

ROMANIA AND RUSSIA ROUND TABLE: IN SEARCH OF NEW COOPERATION FORMATS / INIUSHKIN IGOR, RUSSIAN EMBASSY IN ROMANIA:"The time has come to think of the renewal of our cooperation relations"

• "The prospects for the expansion of the trade relations between Romania and Russia are rather good"

The banks and the government have joined the dance to save each other

Italian finance minister, Giovanni Tria, recently said that the yield of government bonds is not justified by the fundamental aspects of the budget and it is expecting a drop in them, in order for "the negative effects on the banking system...

Trump accuses the Fed of insanity

• American president criticized the central bank for raising the interest rates

REPORT FROM ROMEThe direct democracy forum: a gradual switch from local to national

Some people mistake direct democracy with "the popular democracy regime" of communism. No, it is called direct democracy, because the decision is not mediated by representatives.

The National Strategy for Durable Development, completed by October 1st

THE ROMANIAN DEVELOPMENT CONFERENCE STRATEGY / LÁSZLÓ BORBÉLY, STATE ADVISOR:The National Strategy for Durable Development, completed by October 1st

• "We should more seriously concern ourselves with the durable development concept"

MREPORT BY TRANSPARENCY INTERNATIONALCorruption, an imported product

Globalization has also brought with it an unpleasant effect: cross-border corruption. According to the intermediate report Exporting Corruption for the year 2018, a document drawn up by the organization Transparency International, there is a...

"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

DEPUTY VIRGIL POPESCU, VICEPRESIDENT OF THE COMMISSION FOR INDUSTRIES AND SERVICES"Revenues from the exploitation of natural gas in the Black Sea need to return to the energy sector"

The offshore law will once again reach the Commission, in one or two weeks, according to Mr. Virgil Popescu, the vice-president of the Commission for Industries and Services, the Chamber of Deputies.

MRS. FIREA'S VERBAL BOMBSThe mayor of Bucharest continues the war with the internal affairs minister

• "There have been attempts for the prefect to be made a scapegoat"

Europe is seeing the specter of the "stones of hunger"

The particularly hot weather and the conditions of extreme draught in Europe have brought to light terrible warnings from the past.

American record: the Nasdaq has exceeded the 8,000 points level

• Claudiu Cazacu, XTB România: "United States companies have posted results that even exceeded the analysts' expectations, which were already for 2-figure profit increases"

Darius Vâlcov digs up the IPO of Digi Communications

The capital market was marked, last week, by a number of controversial statements tied to the listing of Digi Communications, starting from the statements made recently by Darius Vâlcov, state advisor on the team of the prime-minister, who wrote...

Highways keep collapsing - this time in Germany

Angela Merkel inaugurated the highway in December 2005, less than a month after she became chancellor of Germany.

The failure to update the natural gas royalties has caused a loss of 8 billion lei to the state budget

THE NATIONAL MINERAL RESOURCES AGENCY, IN A NOTIFICATION TO THE PRIME-MINISTER:The failure to update the natural gas royalties has caused a loss of 8 billion lei to the state budget

The Romanian government has lost over 8 billion lei, between 2006-2018, following the failure to update the royalties paid by the oil and gas companies, says Gigi Dragomir, the president of the National Mineral Resources Agency (ANRM), in a...