Wednesday, January 7th

Romanian President invites political parties for consultations

Romania’s newly elected President Klaus Iohannis has invited the country’s political parties for consultations on Monday, January 12. The talks will focus on a political agreement aimed at providing Romania’s Defence Ministry with funds of at least 2 percent of the GDP in 2017. The talks next Monday are scheduled between 10 AM and 3 PM with each party expected to have a half-an-hour discussion with the president on the issue, according to a statement of the Romanian Presidency.

Potential Oltchim Râmnicu Vâlcea bankruptcy ruled out

Romania’s Economy Minister Mihai Tudose ruled out a potential bankruptcy of Oltchim, a chemical company in the Romanian town of Râmnicu Vâlcea currently facing insolvency procedures. Mr. Tudose believes there are premises of a successful restructuring before possible privatisation efforts may resume. The minister met Oltchim’s legal counsellors and trade unionists yesterday, according to a ministry statement issued on Wednesday. The trade unionists expressed their discontent about the company’s continuing losses while pointing out that activity of the company’s ministry administrators should be checked. However, the company’s turnover almost tripled since insolvency was declared in February 2013 while a profit was reported last fall for the first time in three years. But Oltchim’s debt hits 700 million euros with losses of tens of millions.

First meeting of  BNR Board in 2015

The Board of Romania’s National Bank (BNR) hold its first 2015 meeting on Wednesday. The board decided to lower its monetary policy to 2.5 percent per annum starting with January 8, 2015. Therefore, the key interest rate on the BNR’s lending facility will go down to an annual 4.75 percent from its current level of 5.25 percent while the deposit facility will remain unchanged at 0.25 percent. BNR also decided to keep unchanged current levels of minimum reserve requirements ratios on liabilities of credit institutions, according to a BNR statement posted on its website.

Stars at Romanian Radio’s Concert Hall in 2015: from Elena Moşuc to Richard Galliano

Concerts and recitals hosted by the Romanian Radio’s Concert Hall are hugely acclaimed as it is proved by the fact that all suscriptions for concerts in the first quarter are sold out already! However, there is another chance for audiences to attend the events as tickets are still available individually. Events include among others Vincenzo Bellini’s „Norma” in concert starring Romanian-born Swiss soprano Elena Moşuc in the title role (January 30), the concert of the famous French accordionist Richard Galliano with the Romanian Radio Big Band (March 8), Antonio Vivaldi’s „Seasons” performed by violinist Gabriel Croitoru and the Radio Chamber Orchestra (January 28), Niccolo Paganini’s violin concertos performed by Liviu Prunaru and the Radio Symphony Orchestra (March 6) and the second part of a complete version of Beethoven’s violin and piano sonatas performed by Romanian veteran pianist Valentin Gheorghiu and violinist Gabriel Croitoru (February 4).

Alexandru Danga