Romanian PM Attends EU-Asia Summit
Romanian Prime Minister Dacian Ciolos said Wednesday he will attend the EU-Asia summit, adding he will stop over in Vietnam on the way to the summit, a country with which he wants Romania to have more dynamic relations.
“I’m going to Asia to attend, alongside other heads of state and government in the European Union, the EU-Asia summit, which is held in Mongolia this year,” Ciolos said on national television.
“Asia is a very dynamic continent economically. The EU is negotiating several free trade agreements. Romania needs to position itself in relation to this potential, including potential for exports,” the prime minster said. (Adevarul)
Three New Ministers Sworn In Thursday
Three new members of Cabinet will be sworn in Wednesday after a Cabinet reshuffle that replaced the ministers of transports, education and communications.
Prime Minister Dacian Ciolos on Tuesday announced new ministers for education, communication, transportation and an interim minister for handling Romanians living abroad. (Evenimentul Zilei)
Competition Council Clears Takeover Of Albalact By Lactalis Group
Romania’s Competition Council on Wednesday approved the takeover of Romanian dairy manufacturer Albalact (ALBZ.RO) by French group Lactalis.
In January 2016, Albalact shareholders closed a takeover deal with Lactalis. In Romania, Lactalis group also owns the brand LaDorna.
The Romanian antitrust watchdog assessed the operation in terms of its compatibility with the normal competitive environment and found it poses no significant obstacles in terms of actual competition on the Romanian market, mainly by creating or consolidating a dominant position.
Albalact group registered a turnover of RON450 million (over EUR100 million) in 2015, calculated under IFRS standards. Under Romanian accounting standards, Albalact had a turnover of RON512 million, being leader on the local dairy market. (Adevarul)
Overdue Payments On Bank Loans Up 0.9% On Month In May
Overdue payments on loans of over RON20,000 increased 0.9% in May compared with April, to a total 30.11 billion lei equivalent, according to data from the central bank’s Credit Risk Bureau.
Overdue loan payments accounted for 10.88% of all amounts due on bank loans in May.
Of the total overdue payments, 89.87%, or RON27.06 billion, are loans unpaid for over a year, up from RON26.97 billion in April.
The number of clients with overdue payments increased from 188,022 in May to 190,715 in April, but is lower than in May last year, when there were 208,305. (Azi)