Romania Forex Reserves Rose 3% To EUR32.65B In July
Romania’s foreign exchange reserves stood at EUR32.65 billion at the end of July 2016, up 3% from June, the central bank said in a statement Monday.
The country had foreign currency inflows of EUR1.16 billion and outflows of EUR237 million, the data showed.
Romania’s gold reserve remained steady at 103.7 metric tons and its value adjusted for international gold price stood at EUR4,004 billion.
Overall international reserves stood at EUR36.66 billion on July 31, from EUR35.67 billion on June 30. Payments due on public and publicly guaranteed external debt in August 2016 amount to nearly EUR206 million. (Puterea)
More Than 21,000 Romanians Bought Homes Via First Home Program In 1H/2016
Romania’s national guarantee fund for SMEs (FNGCIMM) has granted over 21,000 guarantees under the government-backed mortgage lending First Home program in the first half of 2016, up 40% from the same period in 2015.
The accelerated increase in the number of guarantees in the first half of 2016 was triggered by uncertainty about mortgage lending following related debates and the enforcement of the law on debt discharge.
The guarantee ceiling for 2016 of the First Home program was supplemented by RON500 million in May. The program has been the main driver of mortgage lending over the last years. The stock of mortgage loans, in Romanian lei and in euro, reached the equivalent of RON55.6 billion at the end of June, according to central bank data. (Evenimentul Zilei)
Deputy PM Vasile Dincu Wants To Be PM – PSD Sources
Reactivated by PSD president, Liviu Dragnea, and a close friend of the former head of the Romanian Intelligence Service (SRI), George Maior, deputy PM Vasile Dincu wants the position of Prime Minister, PSD sources told EVZ newspaper.
The PSD sources added that Dincu has the advantage of being one of the few names related to PSD which President Klaus Iohannis would be willing to nominate as PM.
Another advantage of Vasile Dincu would be that he does not want to be PSD president, so that he wouldn’t be a threat for Liviu Dragnea. His close relations with Romanian ambassador to U.S.A. and former SRI head, George Maior, could also be an advantage for Vasile Dincu on international level. (Evenimentul Zilei)
PNL Prepares Bill For Romanians In The Diaspora
PNL will submit to the Parliament a bill according to which Romanians in the diaspora, who come home on vacation in August, would benefit from urgent, tax-free services when submitting applications for documents issued by public authorities, PNL co-chair, Alina Gorghiu, stated.
“August can become the month of the diaspora in the country, through a PNL initiative stipulating that Romanians in the diaspora who come to Romania on vacation during this period would benefit from urgent, tax-free services when submitting applications for various documents issued by public authorities. We are doing our best to promote this law in the Parliament, so that it would become reality by next August. Everything we invest in the relation with Romanians abroad represents an extra chance for them to return to the country,” Gorghiu posted on her Facebook page. (Puterea)
China Eyes Merger Between Local Steelmakers To Create Rival To Global Producers
Chinese authorities are looking into the merger of the country’s major steel producers into two giants, one located in the north and another in the south, that would create a rival for global producers, like ArcelorMittal.
Thus, Hebei Iron & Steel Group, China’s biggest mill by output, and Shougang Group will be combined into Northern China Steel Group, while the second largest producer, Shanghai Baosteel Group Corp., and Wuhan Iron & Steel Group Corp. will be merged into Southern China Steel Group Hebei Iron & Steel Group, according to sources cited by Bloomberg.
The representatives of state-owned Assets Supervision & Administration Commission refused to comment on the issue. The plan has not been officially approved yet. (Adevarul)