May 17, 2019 UPDATE

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Newsroom, 17.05.2019, 20:18

HANDBALL Romania’s handball side CSM Bucharest on Saturday will be playing
on their own turf the Portuguese team Madeira Adebol SAD in the Challenge Cup
finals. The first game in Portugal ended 22-all. The Challenge Cup is
considered the third in terms of value among the inter-clubs continental
competitions. The present trophy holder is Potaissa Turda, a team from
north-western Romania. Three other Romanian sides won the trophy, Steaua
Bucharest in 2006, UCM Resita in 2007, 2008 and 2009 and Odorheiul Secuiesc in
2015. CSU Bucovina was one of the finalists in 2009. Romanian side CSM
Bucharest has this month been eliminated from women’s competitions by the
French from Metz. We recall that in the past three years, CSM qualified for the
so called Final Four every year and even won the trophy in 2016.

EXCISES EU finance ministers who convened in Brussels failed to reach an
agreement on Friday over the general regime of excises and duties on alcohol. Some
of the issues pending are related to the quantities that can be processed in home
distilleries as well as the reduction or elimination of excises for alcoholic drinks
produced for personal consumption. The initiative belonged to Bucharest as
Radio Romania’s correspondent to Brussels has explained. Romania’s Finance
Minister Eugen Teodorovici who chaired the ECOFIN meeting, has voiced his disappointment
for the amendments that failed to muster support from the member countries. The
Romanian official believes the regulations regarding the general excises regime
and that applicable to alcohol and alcoholic beverages must be adopted
together.

INFLATION The Governor of the National
Bank of Romania, Mugur Isărescu, on Friday presented the institution’s
quarterly inflation report. The Central Bank updated its year-end inflation
forecast to 4.2% and estimates an inflation rate of 3.3% for 2020. Inflation
has reversed the downward trend reported in the last quarter of 2018, and
prices went up in the first 3 months of this year more than the National Bank
had expected, Mugur Isărescu said. He also warned that the demand for products
and services is still in excess of what the domestic economy can produce, leading
to a rise in imports and a trade imbalance. Inflation in Romania is in fact
among the highest in the European Union, alongside the rate in Hungary. According
to the central bank governor, in the coming 3 quarters inflation will remain
above target, and is expected to go down later on to around 3.5%.

CEREMONY The President of Romania Klaus
Iohannis decided to postpone the May 20 ceremony at Cotroceni Palace, when the
year 2019 was scheduled to be declared the Year of Gratitude honouring the
victims of communism, 30 years after the Romanian Revolution of December 1989. The
Presidency announced on Friday that Iohannis wants to dispel any suspicions
that the event may be used for electoral purposes. According to the same source,
ever since taking over his office, the President has constantly worked to
condemn the crimes and abuse committed by the communist repression system, and
to pay tribute to the victims of totalitarianism.

(translated by bill)