Romania’s Banca Transilvania joins new PE fund specialized in financing SMEs

Romania’s Banca Transilvania joins new PE fund specialized in financing SMEs

Feb 14, 2019

Morphosis Capital, a newly-established Romanian private equity firm, announced on Tuesday, February 12, that Banca Transilvania will back its first investment fund, MC Fund I (MCFI), in a move aimed at financing Romanian small and medium-sized enterprises (SME), according to Romania-Insider.com. MCFI was launched in 2018, with the European Investment Fund (EIF)...

International development banks criticize Romania over bank tax plans

International development banks criticize Romania over bank tax plans

Feb 13, 2019

Two major international development banks, the European Bank for Reconstruction and Development and the International Finance Corporation, have formally complained to the Romanian government about proposed new banking sector taxes, according to Reuters. In an unusual move, the London-based EBRD and IFC, which is part of the World Bank, sent a joint letter to...

Nasdaq.com: Romanian stocks resume fall, central bank warns over deficit

Nasdaq.com: Romanian stocks resume fall, central bank warns over deficit

Feb 13, 2019

Romanian bank stocks resumed a fall on Monday as central bank (NBR) governor Mugur Isarescu clashed with the government over the draft 2019 budget which includes a new tax on banks, according to Nasdaq.com. The plan, which also increased taxes on energy firms to compensate for rising state spending, was first announced two months ago and caused a plunge in...

Transilvania International Film Festival starts on May 28

Transilvania International Film Festival starts on May 28

Feb 12, 2019

The Transilvania International Film Festival (TIFF), which will take place between May 28 and June 6 in Cluj and between June 9 and 13 in Sibiu, will screen 18 feature length Romanian films and 19 short films. Two of these films will be the Cannes-nominated Aurora, directed by Cristi Puiu, and ‘Marti dupa Craciun’ (Tuesday after Christmas), directed...

Currency peg in Romania? Possible, but only at a half-priced RON, central bank governor says

Currency peg in Romania? Possible, but only at a half-priced RON, central bank governor says

Feb 11, 2019

Romania could introduce a Monetary Council – or currency peg – like in Bulgaria that will keep the local currency pegged to EUR but the cost will be the setting of a much higher exchange rate, of RON 7-8/EUR, almost double than the current value, the central bank governor Mugur Isarescu said on Monday, according to Business-Review.eu. “A Monetary Council...