English Section

12 septembrie 2024

In his candidacy announcement, Mircea Geoană expressed his vision for Romania, emphasizing the need for a profound change in the country's leadership: "I am running for president because I know we need a real change! I could promise you a perfect country. Let me pose as the perfect politician, tell you all your problems will disappear overnight. But we all know that this is not reality". (Photo source: facebook / Mircea Geoană)

Presidential elections: Mircea Geoană and the shadows of the past

The former deputy general secretary of NATO, Mircea Geoană, aged 66, announced yesterday, through a video message posted on social networks, his candidacy, as an independent, in the presidential elections, the rounds of which are scheduled to take place on November 24 and December 8.

Nicoleta Pauliuc: "We discussed the urgency of adopting some draft laws that would allow those from the Ministry of Defense to fulfill their missions. In this way, we talked about the need for the Ministry of Defense, through the Government, to come to Parliament in a emergency procedure". (Photo source: facebook / Nicoleta Pauliuc)

Nicoleta Pauliuc: "The penetration of a Russian drone into the airspace can be considered a vulnerability"

The penetration of a Russian drone over a certain period of time and over a distance of tens of kilometers represents a vulnerability, said yesterday, Nicoleta Pauliuc, the president of the Defense, Public Order and National Security Committee in the Senate, following the discussions that its members - had with the representatives of the Ministry of National Defense in order to change the incident legislation that would allow the Romanian Air Force and the Land Forces to shoot down these drones.

Pasodoble to the Oval Office (Graphic concept by MAKE)

What was the significance of the debate between Kamala Harris and Donald Trump?

• NASDAQ penalizes Trump

The televised debate between Kamala Harris and Donald Trump had a negative impact on investor confidence in the shares of Trump Media & Technology Group Corp (NASDAQ: DJT), according to a report from Investing.com, which stated yesterday that in the pre-market opening of NASDAQ, their value had dropped by 16.5%.

"The winner of the debate between the two U.S. presidential candidates, in the eyes of the american press"

• "Some journalists accused the moderators of being biased in favor of Harris"

Kamala Harris dominated last night's debate with Donald Trump, in the race for the American presidential elections in November, the US media say in unison, but part of it, which in recent years has had a benevolent attitude towards by the former president from the White House claims that the current vice president needs to thank the ABC News moderators who were partisan with the Democratic candidate.

Joëlle Elvinger: "The MRR potential is undermined because of the high level of approximation in the related plans and because of the discrepancies between forecasts and reality, thus not being able to know the true amount that directly supports the green transition"

Money for the green transition, embezzled by EU member states

• European Court of Auditors: "Some measures, "green' on paper, are not so "green' in reality" • The European Court of Auditors found that reporting on climate-related expenditure and the green transition does not reflects the real costs and results • The European Commission and the EU member states overestimated by at least 34.5 billion euros the funds allocated through PNRRs to the green transition • For the green transition through PNRRs the European Commission allocated 275 billion euros, i.e. 42.5% of the funds established in the Recovery and Resilience Mechanism • Romania has allocated 12.6 billion euros from the PNRR for climate actions

1 Euro5.0810

1 Fr. elveţian5.4596

BNR

1 Liră sterlină5.8849

BNR

1 Dolar SUA4.3461

BNR

1 Gram Aur466.3616

BET18858.05

BET FI61868.7

BET NG1363.44

Yesterday at 1:30 p.m., Brent oil, relevant to the European market, was trading at $70.62 per barrel, after reaching a low of $68.52 the day before.

Why oil has fallen to its lowest level in almost three years?

• Trade Nation: "Fundamentals should continue to influence prices, and supply remains abundant, while the outlook for demand growth is weak"

Fort was listed on the AeRO Market of the Bucharest Stock Exchange in mid-May, following a capital increase and a private placement through which the company attracted 1.67 million lei.

For shareholders will receive ten free titles for every one they own, next week

• The company reported declining revenue and profit in the middle of the year

A diversified long-term approach with constant investments in quality companies is the solution to navigating through episodic market turbulence, according to fund managers. (Illustration: collage by MAKE)

The most severe correction of the last two years on our stock market has; What advice do fund managers have?

Our stock market is experiencing the most severe correction in the last two years, after a massive increase in indices starting from mid-2023, a period in which the BET-TRN index, which reflects both the price evolution of the twenty most liquid...

The Court of Justice of the European Union decided yesterday, definitively, that Google must pay a fine of 2.4 billion euros - a penalty applied by the European Commission in 2017 - for the abuse of its dominant position on the search engine market, because it favored its own shopping comparison service, according to the Euractiv.com website.

Google and Apple, severely sanctioned by the Court of Justice of the European Union

• CJEU magistrates have decided that Apple must pay 13 billion euros to Ireland as unpaid taxes • In the case of Google, the company will pay 2.4 billion euros for abuse of a dominant position • CJEU decisions are final

The minister's hearing in the plenary session of the Chamber of Deputies would take place on October 8, 2024, during the Government Hour program, according to a press release issued by USR. (Photo source: facebook / Angel Tîlvăr. Foto credit: MApN, Laurenţiu Turoi)

The Minister of National Defense, summoned to Parliament in the Russian drone scandal

• Minister Angel Tîlvăr would participate in the meeting of the Defense Committee in the Senate today • USR summoned Minister Tîlvăr to the Government Hour program, in the plenary session of the Chamber of Deputies on October 8

Promotion of wines in audiovisual, requested by producers to increase consumption

• European MEPs are in a dilemma, because according to the European Action Plan to fight cancer, alcohol consumption is harmful to health • The European Commission encourages the production of wines with a low alcohol content • Wine consumption at...

Alexandru Combei, BRD Asset Management: "There are chances that in the second semester the economic growth of Romania will accelerate"

• "Investors should not react emotionally during periods of high volatility"

Dan Dascal, BT Asset Management: "The long-term stock market trend is up"

• In the last five years we have had pandemic, war and interest rate hikes; however, equity fund returns were over 100%, according to BT Asset Management Director

Adrian Negru, Raiffeisen Asset Management: "Long-term, recurring investments in quality companies are the secret of success"

• "The reaction of the stock markets is not necessarily correlated in the short term with the fundamentals of the companies"

Răzvan Paşol, Patria Asset Management: "We must have a very good allocation of savings by asset class"

• "History has shown that over longer periods of time, all declines in the stock markets have been recovered and overcome"

Mars: "From a macroeconomic point of view, the defense effort has no fixed optimal limit, expressed as a percentage of GDP. It all depends on the threats a nation faces and its size. NATO recommends a target of 2% of GDP for defense spending, however, during the Cold War, this value was at least 3%".

Mars analysis: "European states must invest massively in the defense industry"

European states living under the threat of the Russian Federation must invest massively in the production capacities of the national defense industry, says an analysis by the think-tank Mars (formerly the 2 March Foundation - 2-Mars) published in...

In the military operations in Afghanistan carried out under the umbrella of NATO, 2,461 US soldiers lost their lives, and 125,000 people were evacuated when the troops withdrew. According to Sharon Yang, one of the spokespersons of the US Presidential Administration, during the 20 years in which US troops were present in Afghanistan (2001-2021), the US spent over 2 trillion dollars on operations there.

John Kirby: "The US did not abandon any weapons to the Taliban during the withdrawal from Afghanistan"

• The White House official's statement was made following the publication of a report prepared by the Republicans in the House of Representatives regarding the withdrawal of American troops from Afghanistan in the summer of 2021 • According to...

According to JP Morgan, a 1% increase in the share of the over-65 population will lead to a 0.85% increase in the return of the healthcare sector over a ten-year period.

JPMorgan: The population is aging, which is bad news for stocks

• Historically, an aging population has led to declining yields, lower growth in corporate profits and lower valuations, according to the bank's strategies

Marcel Ciolacu specified: "We picked up the planes, we monitored and if they had a target on Romanian territory we acted. (...) I spoke with the Minister of Defense. There were no particular problems on the ground, the attacks will continue, because grain exports are coming again. That's it, we have a war near the border with Romania".

Marcel Ciolacu: "If the Russian drones had a target on Romanian territory, we would act"

If the Russian drones that flew over Romania's airspace on the night of Saturday to Sunday had targets on the territory of our country, they would have been shot down by F-16 planes, Prime Minister Marcel Ciolacu said yesterday, before the...

Negotiations for electricity interconnection between Greece and Cyprus

The energy ministers of Greece and Cyprus discussed yesterday the details regarding the implementation of the Great Sea Interconnector project, through which a submarine cable would be installed regarding the transport of electricity between the...

Conflict of interest within the European Food Safety Authority

Some of the experts of the European Food Safety Authority (EFSA) are in conflict of interest by being involved in projects regarding genetically modified organisms (GMOs), says the non-governmental organization Testbiotech, quoted by the French...

iHunt Technology - revenue and profit growing, mid-year

• For this year, the company budgeted 40 million lei for business and a net profit of 1.85 million lei; last year, iHunt had a loss of 1.37 million lei

Deputy Miruţă mentioned that Romanian IT specialists are not only sought after by companies in Israel, but by large firms from all over the world, because they are well trained in the faculties of computers, electronics and informatics in our country.

Radu Miruţă, Deputy: "The government should offer fiscal facilities to software companies that stubbornly pay taxes in Romania"

IT specialists can be kept in our country by offering attractive incomes, even by granting tax facilities, claims deputy Radu Miruţă (USR), secretary of the Commission for Information and Communications Technology (TIC) in the Chamber of Deputies.

The President of ARIES Timişoara mentioned that at the moment Romanian companies in this sector of activity need larger teams for the projects requested by the international community, by the global industry, projects whose implementation would lead to the rapid development of domestic companies.

Daniel Giurea, ARIES: "Digital nomads work not only for companies in Israel, but also for other IT companies in the world"

There is currently no IT workforce exodus from Romania to Israel, but we have digital nomads who work from our country for companies from other countries of the world, including those from the Holy Land, Daniel Giurea, the president, told us of...

Corina Vasile: "It must be taken into account that the teams and companies from Romania are in competition with any other companies in the global market, and the cost is a critical element".

Corina Vasile, ANIS: "The IT workforce is one of the most mobile"

The labor market specialized in IT has moderated in the last 12 months, even if there is still a shortage for certain specializations, Corina Vasile, executive director of the Software and Services Industry Employers' Association (ANIS), told us.

The delocalization of Israeli IT companies gives rise to the migration of our workers... while they remain at home.Illustratuin: Collage by MAKE

How affected is Romania by the migration of israeli IT companies?

Romania, Bulgaria, and Poland have become the main destinations for hiring IT specialists in Israeli start-up companies, as the war in Israel has forced them to move part of their operations abroad to ensure business continuity, according to an...

Our IT specialists, coveted by foreign companies

Romania has become an attractive destination for economic, technical, and cultural reasons for Israeli companies looking to expand their IT teams outside of their main headquarters, according to a report published on the Carbon website, which...

The delocalization of israeli IT companies, according to some of their leaders

The war in Israel has forced some local IT companies to move part of their operations abroad to ensure business continuity. Among the IT specialists targeted by Israeli firms are those from Romania.

Jakub Rochlitz is 20 years old. He is Slovak, but currently lives in Prague, where he studies finance at university, manages online marketing for his family's guesthouse, and continues to expand his knowledge in asset management. He is also studying for the CISI Investment Management exams. In addition to all this, Jakub spends his time managing his eToro portfolio and creating reports for his copiers and his blog. His eToro username is TheDividendFund.

Financial markets - more accessible than ever; What must an investor do to succeed in a constantly changing market

• (Interview with Jakub Rochlitz, Popular Investor on eToro)

Prime Transaction: Sphera and MedLife - among the best results from the BSE; Electrics and TTS - poor results

• "Normally the results of Sphera in the second semester should be above those of the similar period of the previous year"

The evolution of Norway's Sovereign Wealth Fund from its inception to the present day

Norway's Sovereign Investment Fund - an economic and financial success

Norway's Sovereign Investment Fund, formally known as the Global Government Pension Fund, is the world's largest sovereign wealth fund, managing $1.7 trillion in assets at the end of August 2024, according to data on the Bank's...

The vice-president of CFA Romania does not believe that such a fund should be under the NBR, although Norway's Sovereign Investment Fund is under the tutelage of the Scandinavian country's central bank.

Adrian Codirlaşu: "Ideal for the establishment of the SIF would be the Proprietatea Fund model"

The Sovereign Investment Fund proposed by the Simion Plan should be established according to the Proprietatea Fund model, claims Adrian Codirlaşu, the vice-president of CFA Romania.

Mircea Coşea told us: "I do not accept that this fund is established on political grounds or that it is subordinated to the Government. I see the Sovereign Investment Fund only under the authority of the NBR, because in the central bank there is the possibility of eliminating political actions and political pressures".

Mircea Coşea: "I see the Sovereign Investment Fund only under the authority of the BNR"

The establishment of a sovereign investment fund is extremely welcome, but such a financial instrument should be established only under the authority of the National Bank of Romania, the only institution capable of eliminating political interests...

Gheorghe Piperea: "The Sovereign Investment Fund is absolutely necessary because any independent nation that wants to preserve its strategic resources and be on its own feet from a financial point of view creates such a fund."

Gheorghe Piperea: "The Sovereign Investment Fund should be subordinate to the Parliament"

The future Sovereign Investment Fund, provided for by the Simion Plan and the AUR program, should be subordinated to the Parliament, lawyer Gheorghe Piperea, MEP from our country, told us.

As in the current Simion Plan, the FSDI proposed by Liviu Dragnea and PSD aimed to manage a portfolio of state companies and capitalize on national resources through a fund similar to the Norwegian model. (Photo source: facebook / Liviu Dragnea)

The Sovereign Investment Fund proposed by Dragnea, failed in implementation

Liviu Dragnea and PSD proposed, in February 2017, the establishment of the Sovereign Development and Investment Fund in 2017, the measure being part of the governing program of the social democrats for the period 2016-2020.

The Sovereign Investment Fund proposed by the Simion Plan, difficult to implement in the current economic conditions

• Simion's plan provides for the establishment of a Sovereign Investment Fund on the model of the one existing in Norway • FSI proposed by Simion will not hold shares in state energy companies, but will be fed with 50% of the dividends granted...

Developments on the diesel market are important because this fuel is a traditional pillar of the world energy market, being used in transport, mining, construction and agriculture.

Diesel demand falls in China

The diesel markets in China and India, responsible for most of the Asian demand profile, are showing signs of slowing down, which could create new problems for crude oil prices, reports Bloomberg.

Andreea Petru, partner, BluePrint Advisors, Laurenţiu Stan, founder and director of Kapital Minds and Paul Şerban, plastic artist.

Kapital Minds study: Two out of three entrepreneurs in our country consider selling the business as the main option for exit

• Laurentiu Stan, founder of Kapital Minds: "Many potential transactions are not realized due to the very different expectations of the seller and the buyer regarding the price"

The government bond issuance system of the Ministry of Finance and the Beijing Stock Exchange was launched in September 2022. (Photo source: www.bse.cn)

Beijing Stock Exchange, three years after its debut: 80% of listed companies are profitable

The Beijing Stock Exchange (BSE), launched in 2021 to support innovative small and medium-sized enterprises (SMEs) in China, turned three years old this week.

The Kremlin is a world champion at manipulation; He systematically mocks the American voter, baits him with fake news and makes him elect Putin's friend for president. What do you think is happening to the Romanian voter? (Illustration: collage by MAKE)

Kremlin Manipulates US Elections; the Russian operation, annihilated by American institutions

• The US Department of Justice has seized 32 Internet domains used by Russia in a massive campaign to influence the 2024 presidential election and other countries, revealing the Kremlin's involvement in disseminating fake news • The Russia...

Prime Transaction: Transelectrica, Digi and Banca Transilvania - among the issuers with good results in the second quarter, from BVB

• "The negative results were concentrated in the area of state issuers"

ECA: Europeans - Astra Zeneca and Pfizer guinea pigs in the case of anti-Covid 19 vaccines

The citizens of the member states of the European Union were the guinea pigs of the companies Astra Zeneca and Pfizer regarding the anti-Covid 19 vaccines, with the agreement of the European Medicines Agency (EMA), it appears from the audit...

Record coal consumption, despite the orientation towards green resources

Despite many countries switching from fossil fuels to cleaner ones, global coal consumption will reach an all-time high of 164 Exajoules (EJ) in 2023, according to a Visual Capitalist analysis highlighting coal's role in the energy mix...

Marcel Boloş, the Minister of Finance, declared, in the press briefing that took place after yesterday's meeting: "It is an extremely complex package of measures that concerns the business environment and public spending of the state". (Photo source: facebook / Marcel Bolos)

Tax amnesty - what measures did the Government approve yesterday for bad payers and how will correct taxpayers be rewarded

• 330,000 companies and 848,000 individuals will be able to benefit from the partial tax amnesty, according to the information presented by Marcel Boloş, Minister of Finance • The total value of outstanding principal debts that should be collected...

Dogecoin was an instant success upon launch, gaining popularity on social media platforms and becoming a staple of the crypto space in early 2021 when celebrities such as Elon Musk, Mark Cuban and Snoop Dogg endorsed it, leading to to a sudden increase in its price, an episode which, however, was short-lived, according to the mentioned source.

Meme Coins - Crypto Speculation With Jokes

• Dogecoin, the original meme coin, was created in 2013 as a joke to satirize the effervescence surrounding Bitcoin and other cryptocurrencies, according to crypto.com

Image of the "Habibi Come to Dubai' community

"Habibi Come to Dubai": A Journey Through the World of Memes and the Crypto Community

The meme token "Habibi Come To Dubai" ($DUBAI) recently peaked at $0.00004266 on the Solana blockchain on August 27, 2024. However, I believe some readers might be confused by this opening sentence, and they have a point...

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