June 17 (Reuters) – Here are news stories, press reports and events to watch which may affect Romanian financial markets on Thursday.
The finance ministry tenders 600 million lei worth of 5-year treasury bonds.
ROMANIA FINMIN CONFIDENT CUTS WILL PASS
The Romanian coalition government’s planned cuts in public sector wages and pensions will overcome legal challenges at the Constitutional Court, Finance Minister Sebastian Vladescu said on Wednesday.
ROMANIA OPPOSITION ASKS COURT TO RULE ON AUSTERITY
Romania’s opposition appealed to the country’s constitutional court on Wednesday to rule on whether the government’s planned harsh spending cuts, measures needed to secure an international aid package, are legal.
GOVERNMENT SURVIVAL SENDS ROMANIA ASSETS HIGHER
The prospect of more international aid for Romania’s recession-hit economy boosted its currency and stocks on Wednesday after the government survived a no-confidence vote.
ROMANIA C/A DEFICIT WIDENS 40.3 PCT Y/Y IN JAN-APR
Romania’s current account deficit widened 40.3 percent year-on-year to 2.1 billion euros ($2.6 billion) in the first four months of the year, central bank data showed on Wednesday.
BANK OF CYPRUS PULLS BID TO UP ROMANIAN BANK STAKE
Bank of Cyprus BOC.CY (BOCr.AT) has withdrawn an application to raise its stake in Romanian Banca Transilvania BATR.BX to up to 20 percent, it said on Wednesday.
Dumitru Costin, head of one of Romania’s most powerful unions, Blocul National Sindical, resigned on Wednesday as the unions protests and strikes failed to stop the austerity measures proposed by the government to pass parliament.
Ziarul Financiar, Page 3
Hidroenergetica, one of the two state-run companies Romania plans to create as part of a plan to restructure its power sector, could be set up in September, after a conflict with unions over pay demands is expected to be solved, CEO Mihai David said.
David said the company will invest around 1 billion euros in modernising and upgrading its capacity and sees no problem getting financing.
He wants to issue corporate bonds on the U.S., Asian, European and Romanian markets in the first quarter of 2011.
Ziarul Financiar, Page 2
The agriculture ministry spent 1.9 billion euros out of its 2 billion euro budget for this year on subsidies and covering last year’s arrears, Farm Minister Mihail Dumitru said.
Gandul, Page 3
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