Press Review - March 31, 2016

03.31.2016 By Gabriela Stan

President To Invite Parliamentary Party Leaders For Consultations On “Big Brother” Laws

Romanian President Klaus Iohannis will invite the leaders of parliamentary parties for consultations, to convince them to urgently adopt the law on prepay cards and the cybersecurity law, according to senator Daniel Savu, member in the control committee of Romanian Intelligence Service (SRI).

The announcement was made by the President during the presentation of the SRI activity report for 2015, on Tuesday.

Savu said the President did not mention exactly when the leaders of parliamentary parties would be invited to consultations, saying only that there are certain important changes to the interests of national security. (Adevarul)

Deputies Reject Anti-Corruption Prosecutors’ Request To Detain Sebastian Ghita

Deputies on Wednesday rejected the request of anti-corruption prosecutors to detain PSD MP Sebastian Ghita, according to parliamentary sources.

Deputies rejected the detaining request with 166 cons and 122 pros, of the 302 participating deputies.

On Tuesday, the law committee of the Chamber of Deputies approved anti-corruption prosecutors’ request to detain Sebastian Ghita but rejected the preventive arrest request.

There are seven charges found by anti-corruption prosecutors against Ghita, including bribery, influence peddling and blackmail. (Puterea)

Non-Performing Loan Ratio Slightly Down To 13.57% In January

The non-performing loan ratio stood at 13.57% in January, down 0.04% percentage points compared with the end of 2015, according to the data of the National Bank of Romania.

According to the definition of the European Banking Authority (EBA), implemented in the Romanian legislation by central bank’s order no. 6/2014, non-performing exposures are exposures which are 90 days past-due, which are unlikely to be repaid in full without collateral realization.

The number of individuals registered at the Credit Bureau with over 30 days past-due loans at banks or non-banking financial institutions rose by 9,675 on the month in January to 713,921 persons.

In January, the value of past-due loans reached RON11.03 billion, of which over RON4.43 billion in national currency, RON4.61 billion  - EUR equivalent, RON1.93 billion  - other currencies equivalent and RON48.4 million  - USD equivalent. (Romania Libera)

Gabriel Resources Mulls Raising 20 Million Canadian Dollars For Rosia Montana Arbitration

Canadian company Gabriel Resources wants to raise 20 million Canadian dollars by a private placement, to finance the arbitration with Romania for Rosia Montan gold mining project and other general expenses.

“There remains no engagement with the Romanian authorities following the formal notification of our dispute fourteen months ago. It is regrettable that the Company has had to further reduce its workforce, community support and investment in Romania in the last year as a consequence of Romania’s failure to address the Project. Our overriding wish remains to achieve an amicable resolution that allows for the construction and operation of a world class gold mine at Rosia Montana. However, in the absence of such a resolution, the Company is fully committed to protecting its rights and interests through the ICSID arbitration process. To this end, the Company intends to raise up to USD 20 million by way of a non-brokered private placement to finance, amongst other things, the ICSID arbitration,” said Jonathan Henry, Gabriel Resources President and Chief Executive Officer.

Gabriel Resources filed a request for arbitration before the World Bank's International Centre for Settlement of Investment Disputes against Romania, related to the dispute over the development of the Rosia Montana project and violations of the protections afforded by the international treaties for the promotion and reciprocal protection of involvements, which Romania has with Canada and the UK. (Adevarul)

Maroon 5 To Perform In Romania In June

American pop rock band Maroon 5 will perform for the first time in Romania in June.

The concert is scheduled for June 5 and will take place in Constitution Square, Bucharest. The tickets were put up for sale on March 30, at prices between RON150 and RON573.

The concert in Bucharest is part of the band’s world tour "V Tour" promoting the latest album launched by Maroon 5, "V". (Romania Libera)