Code Orange For Snow And Wind In The Mountains

Meteorologists issued a code orange warning in the Southern Carpathians and the Banat Mountains.   The warning is valid for April 19, between 9 a.m. and 6 p.m.   The code yellow alert targets the southern, central and eastern regions.  

There will be rain in Banat, Oltenia and the north-west of Muntenia, and mainly snow in mountainous areas. Precipitation will exceed 20…25 liters per square meter and even 40 liters/sqm in some areas. (Adevarul)

Albalact To Be Delisted From Bucharest Stock Exchange

The shares of dairy producer Albalact will be withdrawn from trading on the Bucharest Stock Exchange, starting Tuesday, April 18, after the company had been acquired by French group Lactalis.

Shareholders who did not cash the countervalue of shares will be able to do that at a price of RON0.5252 per share.

Albalact had been taken over by Lactalis from businessman Raul Ciurtin. The company’s shares had been suspended from trading since November 23, 2016, and its market capitalization stood at RON339 million. Lactalis, with revenue of nearly EUR17 billion and 61,000 employees, received approval to take over Albalact in July 2016.

Lactalis announced it would acquire 636.3 million shares, representing 97.49% of the share capital of Albalact whose portfolio includes the brands Zuzu, Fulga and Raraul. (Adevarul)

IMF Sees Romania’s GDP Growth At 4.2% In 2017 And 3.4% In 2018

The International Monetary Fund (IMF) estimates Romania’s economy will increase by 4.2% in 2017 and by 3.4% in 2018, according to its latest report on the World Economic Outlook.

In its previous forecast, the IMF said it expects Romania’s GDP growth to reach 3.8% in 2017 and 3.3% in 2018.

The Romanian government drafted the 2017 state budget on an economic growth projection of 5.2%, while most of the analysts forecast a GDP growth of 3.5% – 4.5% in 2017. IMF’s forecast shows Romania as Europe’s second fastest-growing economy, after Iceland (5.7%).

IMF’s 2017 Spring Meetings presenting the World Economic Outlook take place in Washington, D. C. this week. (Evenimentul Zilei)

Romania’s Weapons Exports Hit Ten-Year High

Romania’s exports of weapons and military technique rose by nearly 15% on the year in 2016, reaching the highest level of the last ten years, namely over EUR180 million.

The main buyer of Romanian weapons is the United States of America where nearly 40% of total Romanian military exports are delivered. Bulgaria is a constant client of Romania and climbed to the second spot in a ranking of Romania’s clients.

In 2016, Romania lost mar clients such as The Netherlands, Afghanistan, Gabon, Hungary and Serbia, while others, such as Turkey, the Czech Republic and Canada, made fewer acquisition from Romania. (Romania Libera)

PM Grindeanu Speaks About Romania’s 2017 Economic Growth

Prime Minister Sorin Grindeanu said Tuesday, in a Facebook post, with respect to the estimations of the International Monetary Fund (IMF), that he still thinks Romania’s economy will grow by 5.2% in 2017.

Grindeanu also said the economic growth must also reflect in Romanians’ income.

The IMF estimates Romania’s economy will increase by 4.2% in 2017 and by 3.4% in 2018, according to its latest report on the World Economic Outlook.

In its previous forecast, the IMF said it expects Romania’s GDP growth to reach 3.8% in 2017 and 3.3% in 2018. (Adevarul)

Subiecte #press review