BT seeks to buy back own shares for 60 mln lei

BT seeks to buy back own shares for 60 mln lei

Sep 22, 2019

Romania’s Banca Transilvania (BT) [BSE:TLV] said it is seeking to buy back 15 million of its own shares for up to 60 million lei ($14 million/13 million euro) as part of plans approved by its shareholders for the repurchase of a total of 35 million shares, according to SeeNews.com. Banca Transilvania will offer to pay a minimum price equal to the market...

Romania ‘s economy to lose steam in 2020-2021

Romania ‘s economy to lose steam in 2020-2021

Sep 21, 2019

Romania’s economy is expected to slow down in the short run and return to negative output gap in 2020-2021 due to the rebalancing of the policy mix and to the end of the global post-crisis cycle, Banca Transilvania said on Friday, according to SeeNews.com. However, the convergence toward the EU average would continue in the medium term, as Romania’s...

Traian Basescu, Securitate Collaborator, Bucharest Court Of Appeal Rules

Traian Basescu, Securitate Collaborator, Bucharest Court Of Appeal Rules

Sep 20, 2019

Bucharest Court of Appeal has ruled on Friday that ex-president Traian Basescu had collaborated with Securitate, the former Romanian political police. The ruling is not final yet, according to RomaniaJournal.ro. According to the civil action filed by College of the National Council for Studying Securitate Archives (CNSAS) in court to establish if former...

Romania could fall into recession following the electoral cycle

Romania could fall into recession following the electoral cycle

Sep 20, 2019

Romanian economy could fall into recession at the beginning of 2021, following the electoral cycle, due to unsustainable deficits, according to Ionut Dumitru, chief economist at Raiffeisen Bank Romania, quoted by Business-Review.eu. “We expect that by the end of 2020, the beginning of 2021, rather, the economy will perform worse and enter into recession. Of...

EU Council backs Romania’s Kovesi for European prosecutor job

EU Council backs Romania’s Kovesi for European prosecutor job

Sep 20, 2019

COREPER, the executive body of the Council of the European Union, voted on September 19 in favor of Romanian Laura Codruta Kovesi’s candidacy for the position of chief prosecutor of EU’s newly created Public Prosecutor’s Office, G4media.ro reported. This opens the way for her formal endorsement for the job, according to Romania-Insider.com. Kovesi, the...