November 4, 2016 UPDATE
Romania may be able to fully cover the natural gas needs of the Republic of Moldova as of 2020.
Newsroom, 04.11.2016, 12:15
GAS PIPELINE — Romania may be able to fully cover the natural gas needs of the Republic of Moldova as of 2020, when the construction of the Iasi-Ungheni-Chisinau gas pipeline is supposed to be completed. This is one of the conclusions of the Inter-governmental committee for economic cooperation between the Republic of Moldova and Romania. Moldova might get over 2.2 billion cubic meters of natural gas every year, almost double its needs. Also decided by the committee have been the strategic domains in which Romania is ready to invest in order to upgrade and develop the electric power infrastructure in Moldova, which should allow the two country’s energy systems to interconnect. This way, Romania will be able to export cheap electricity to Moldova, after works at the two reactors of the Cernavoda plant are completed.
INFLATION – Inflation in Romania remains negative this year but this situation might improve early next year, the Central Bank Governor, Mugur Isarescu, said on Friday. As for the risks to inflation, Governor Isarescu mentioned Romania’s state budget for next year and the uncertainties regarding the global economic growth and the economic recovery of the Eurozone. The Central Bank’s forecast for the end of this year stands at minus 0.4%.
SUMMIT — Romanian PM Dacian Cioloş will attend on Saturday and Sunday in Riga, Latvia, the 5th meeting of the heads of government of the Central and East European states and China, according to a government press release. The participation of the Romanian PM in this meeting is an opportunity for Romania to reiterate its decision to assume a more important role within this cooperation structure, the press release also says. On the sidelines of the summit, PM Cioloş will hold bilateral meetings with some of his counterparts participating in the Riga summit.
INVESTMENT — A recent poll commissioned by the Council of Foreign Investors in Romania related to the recent tax cuts passed by Parliament reveals that slightly less than half of foreign investors do not believe it is advantageous, with 38% stating it is. Almost 50% of respondents believe the legislative process has worsened, which affects business planning. The Council believes that loaning rules, which they deemed controversial, may give way to thousands of lawsuits, which may have lasting impact on foreign investor confidence in the Romanian economy.
ANKARA — 8 people, among them 2 police officers lost their lives and more than 100 were injured on Friday morning in a car bomb blast near the police headquarters in a town in the southeast of Turkey, inhabited by a majority Kurdish population. The Turkish PM, Binali Yildirim, blamed the attack on the PKK, an organization that Ankara labels as terrorist. The blast occurred shortly after the Turkish authorities arrested the two co-presidents of the Peoples’ Democratic Party – HDP, the main pro-Kurdish party in Turkey as well as at least 9 members of the Turkish Parliament, as part of a large-scale ‘anti-terrorist ‘operation, the BBC reports. Immediately after the arrest the authorities have blocked social networks. This is an unprecedented action against the HDP, the 3rd largest parliamentary force in Turkey, which is firmly opposed to president Recep Tayyip Erdogan.
FOOTBALL — Romanias champion team Astra Giurgiu Thursday night on home turf drew 1-all against Czech contenders Victoria Plzen, in a fixture counting towards Europa League’s E Group. Astra are 3rd placed in a group where AS Roma have the lead, having secured a win against runner-up team Austria Vienna. Also on Thursday Romanian vice-champions Steaua held Swiss opponents FC Zurich to a goalless draw, away from home. Steaua are at the bottom of the table in L Group, where Turkish squad Osmanlispor have a surprising lead. Osmanlispor this past Thursday grabbed a win against Spanish contenders Villareal.
(Translated by Elena Enache)
