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Hungarian national electricity company wants to sell energy to domestic customers in Romania ● The Ministry of European Funds is the one that has hindered companies with problems to access subsidies ● Inflation continues to fall, 2.1% in October 2020, below the NBR target. Why is Isărescu not reducing the key interest? ● Teleworking: the silent revolution taking place in the EU ● Another Romanian business, bought by a foreign giant ● Changes for Romanians traveling to the UK next year. New rules at the border, health, automobile ● In Germany, only one in five employees lost income due to the pandemic. Women and youth are the vulnerable categories during this period.
The Ministry of European Funds is the one that has hindered companies with problems to access subsidies. The measure affects more than 2,000 companies that have requested working capital and are now excluded, with little chance of surviving the economic crisis. Government sources assure that there are more and more differences between the Ministry of Economy and the Ministry of European Funds. The Ministry of European Funds, led by Marcel Boloș, is the one that eliminated companies with financial problems from access to European subsidies, despite the recommendations of the European Commission, said Libertatea government sources. The information was confirmed by the institution’s representatives, who stated that the purpose of the measure was “to ensure the efficiency of public investment.” Specifically, the state feared that troubled companies would end up insolvent or bankrupt anyway, so money would be lost without generating economic development. writes Freedom.
Inflation continues to fall, 2.1% in October 2020, below the NBR target. Why is Isărescu not lowering the key interest rate? The consumer price index continued to decline in November, reaching 2.1%, at the bottom of the target range of the National Bank of Romania (BNR), according to data released by the National Institute of Statistics. Inflation is almost half compared to last year. The pandemic has left its mark on demand and prices, while continuing to rise, have slowed growth significantly. Under these conditions, correlated with the stability of the national currency and the liquidity of the banks, economic analysts believe that the NBR would still have room to reduce the monetary policy interest rate, which currently stands at 1.5%, from way to stimulate credit and consumption. Adrian Vasilescu, BNR, wrote in an opinion piece published in ZF that the National Bank maintains “guns and bullets” to deal with future shocks that could disrupt financing of the economy and the state budget. writes Ziarul Finance.
Another Romanian business, bought by a foreign giant. One of Romania’s most important businesswomen sold her business built from scratch. “Finally I sold the whole package. The Holmbergs Group, behind which the investment fund FSN Capital is located, wanted to expand in the area, more precisely they wanted an industrial platform in Romania. Initially they wanted to sell a minority package, but during the process, more precisely in due diligence, the buyer saw that we had all the logistics and we had everything well set up and wanted to buy the whole business, “said Doina Cepalis. The Paşcani group that produces covers and safety systems for child car seats has three factories, a combined business of 30 million euros and about 900 employees. Doina Cepalis had previously announced that it was in negotiations, but said it was selling a minority package. She now said that it sold 100% according to Business magazine.
Changes for Romanians traveling to the UK next year. New rules at the border, health, car. Traveling from the EU to the UK will get a lot more complicated in the new year. Until now, Brexit has been an abstract notion for most Europeans, but as of January 1 it will become a reality that will affect everyone who wants to travel. 2.3 million euros saved as a result of the integration of computer technologies to optimize logistics processes. Emergency measures released by the European Commission on Thursday suggest that planes between the EU and the UK will continue to fly, but there are questions about Britain’s holidays on the continent – how soon this could happen. EU COVID restrictions say that citizens of non-EU countries cannot enter the space for non-essential reasons. Exceptions are generally made for countries with a very low infection rate, but the UK is not in this situation, according to Politico, taken over by profit.ro.
In Germany, only one in five employees lost income due to the pandemic. Women and young people are the most vulnerable during this period. Euler Hermes, together with Qualetrics, an experience management company, conducted a survey on the impact of the Covid-19 pandemic on economic decisions, as well as some risk perceptions between September 28 and October 21, 2020, in a representative sample of 1,000 people in Austria. , France, Germany, Italy, Spain, Switzerland and the United States. The Covid-19 pandemic is the latest in a series of crises that has marked the first two decades of the 21st century. However, it is different from the others that start in the real economy and not in the financial sector. This time, governments have made great efforts to minimize the economic impact of restrictions through measures such as expansion of monetary policy, temporary debt reduction, specific interventions, expansion of existing programs, wage subsidies and temporary tax exemptions, write FinEco24News.ro
