Press Review - December 4, 2018

12.04.2018 By Oana Gavrila

Romania Raises RON494M Selling State Paper

Romania's finance ministry on Monday raised 494 million lei (EUR106.08 million) selling treasury bonds maturing in April 2026 at an average yield of 4.67%.

Demand for the issue amounted to RON821.2 million and the ministry raised its allocation from its original RON400 million target.

Leu Falls Slightly vs Euro

The Romanian leu fell slightly against the euro on Monday, losing 0.01% on the day and reaching a reference rate of 4.6566 units to the euro.

On Friday, the leu's rate stood at 4.6560 units to the euro.

Against the US dollar, the leu fell 0.08% on Monday, to a rate of 4.1042 units to the dollar from Friday's rate of 4.1008 units to the dollar.

Ruling Coalition Loses Majority in Lower Chamber

Ruling coalition parties PSD and ALDE no longer have the majority in the Chamber of Deputies as four social-democrat MPs defected to Victor Ponta's party.

The fate of the coalition's majority now depends on Hungarian minority party UDMR.

Ponta's Pro Romania party seeks to remove PSD leader Liviu Dragnea from the position of lower chamber chairman.

The ruling coalition still has a comfortable majority in the Senate.

Bucharest Subway Unionists Still Keen on General Strike Over Wages

Union employees of the Bucharest subway company still plan to go on general strike demanding higher wages.

The strike was postponed due to the lack of appointment of a transport minister to continue negotiations.

Employees initially pushed for a 40% wage raise and later said they would accept 20%. Subway operator Metrorex agreed to a wage hike of 18% and employees are threatening to continue protesting.