Romanian Association of Exporters – AREX press release:
Romanian Association of Exporters – AREX – is counting on the activation of the close cooperation with the external network of counsellors from the Ministry of Economy, Commerce and Tourism in order to offer to its members the necessary support for continuing the increase of exports and the penetration on new foreign markets said Traian Halalai (pictured), Vice President of AREX, during the annual reunion of the economic counsellors from the offices for economic and commercial promotion from the external network.
”We have the history of a good cooperation with you but we are looking forward to further activate our common activity due to the fact that in our opinion you represent a high value asset that can be used for the benefit of Romanian exporters. Foreign groups branches present here – making more than 70% of the exports – do not need access to studies and market analysis or support from the network of counsellors abroad. These support instruments and many others more are necessary for the local companies, especially the small and medium ones. This is why we consider a closer cooperation with AREX, that can be positioned as a facilitator of information transfer between you and the business environment, may contribute to creating a favorable context for supporting the interests of Romanian exporters and investors abroad.”, said Traian Halalai.
The AREX representative mentioned that it is highly important for the exporters to gain access to information related to the business opportunities collected by the offices for economic-commercial promotion with a focus on the extra-community markets but also to the ones connected to governmental projects implemented in various states and financed by international financial institutions (World Bank, EBRD, EIB) and even to best practices guides for different international markets.
”As Executive President of EximBank, which is a founding member of the association, I can tell you that our involvement is significant and AREX is already another channel that the bank uses for fulfilling its role deriving form its constitutive status – supporting the Romanian business environment. Our support comes real by our specific financial instruments – financing, guarantees, insurance as well as by offering relevant business information and by facilitating the business relations with potential partners from abroad through the partnerships that the bank has in place with various similar financial institutions. ”, added Traian Halalai.
Romanian Association of Exporters – AREX is a professional organization, non-governmental, aiming at supporting and promoting the interests of Romanian companies involved in international transactions in view of consolidating the Romanian presence on foreign markets.
The association has been established in 2014 and has now more than 100 members, both important Romanian companies in the local industry and small and medium enterprises active in furniture production, automotive, energy, metallurgic industry and IT fields.
AREX membership is available to any exporting company with no financial contribution. Additional details: www.arex.com.ro or arex@arex.com.ro.
The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii
NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii
ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii