April 8, 2025
A roundup of local and international news.
Newsroom, 08.04.2025, 13:55
A roundup of local and international news.
TARIFFS – The Bucharest Stock Exchange (BVB) opened Tuesday’s session higher. The main BET index, which tracks the performance of the 20 most liquid stocks, went up by 1.99%, and the BET-Plus index, which shows the performance of the 43 most liquid stocks on the BVB, was up 1.91%. We recall that European stock markets, including the Bucharest one, recorded losses, amid investor concerns about the evolution of the global economy caused by the new American tariffs, and in the United States the S&P 500 index continued its decline on the American stock market. In the first two days after Donald Trump announced the new customs duties, the S&P 500 fell by 10.5%, which represented total losses of 5 trillion dollars. CNN reports that a growing number of American billionaires, most of whom are supporters of Donald Trump and funders of his election campaign, are publicly questioning the effectiveness of the new tariffs and are even calling for their cancellation. Meanwhile, the European Commission has proposed 25% tariffs on a number of American products, in response to Washington’s 25% tariffs on steel and aluminum imports. The European tariffs would come into effect on May 16 and December 1. Regarding the general 20% tariffs announced by Donald Trump last week, the Commission wants to continue negotiations with Washington and has proposed a free trade agreement with zero tariffs.
COOPERATION – The Chamber of Deputies is hosting, on Tuesday and Wednesday, the 64th meeting of the Committee for Economic and Development Policies of the Parliamentary Assembly of the Black Sea Economic Cooperation (BSEC). The meeting with the general theme “Towards a Greener Future: Cooperation for Technological Solutions in the Black Sea Region” will be attended by parliamentary delegations from the member states of the BSEC Organization, representatives of the BSEC International Secretariat, members of the Diplomatic Corps, and officials from the Romanian Government. This meeting will be a good opportunity to increase Romania’s visibility in the wider Black Sea region.
CLARIFICATIONS – The priorities of Romanian foreign policy remain unchanged, says Prime Minister Marcel Ciolacu, who emphasizes that the opinions expressed in public by various Romanian citizens who do not hold any official position are purely personal and do not imply a position of the Romanian state. In a post on his social media page Ciolacu said that Romania’s official positions are always transmitted through institutional channels, in close connection with the Presidency and the Ministry of Foreign Affairs. The Prime Minister’s clarifications come after businessman Dragoş Sprânceană, a member of the Romanian Diaspora in the United States, made statements regarding Romania’s position towards Ukraine and the European Union, different from the official position of Bucharest.
BANK – The National Bank of Romania (BNR) has decided to maintain the monetary policy interest rate at 6.5% per year. The Bank said in a statement that country is facing great uncertainties and increased risks based, among other things, on the future evolution of energy and food prices. At the same time, the BNR believes that the context of the trade policy of the US Administration and the measures adopted in response by other states, which are likely to affect the course of the global economy and international trade, must also be taken into account.
CULTURE – Romanian Minister of Culture Natalia Intotero is participating in an informal meeting with her EU counterparts in Warsaw, focused on the role of culture in strengthening European identity. Supporting young artists, protecting cultural heritage and defining a new strategic framework for European cultural policies, known as the ‘Cultural Compass’, are among the topics on the agenda. According to a press release from the ministry, Natalia Intotero advocates for promoting culture not only as a vector of identity, but also as an instrument of resilience and social cohesion, in a Europe affected by multiple crises. The meeting in Warsaw underlines the importance of European cooperation in the field of culture and Romania’s commitment to actively contribute to shaping the future of cultural policies at European level.
BALLOT – The Romanian Post has sent ballot papers to 93 countries, on six continents, for Romanians who will vote by mail in the presidential elections in May, the national postal service operator announced. There are over 6,000 voters who have registered to vote by mail, most of them in Germany, almost 1,400. The envelopes must then return either in Bucharest, at the headquarters of the Election Office, or at the headquarters of diplomatic representations, depending on the option of each voter. The Romanian Post has announced that it is committed to ensuring an efficient and transparent electoral process for all Romanian citizens who have chosen to cast their vote by mail. For the May 4 election, 11 candidacies submitted to the Central Election Office remain definitive – four independent candidates and seven supported by parties or electoral alliances. The second round of elections will be organized on May 18. (EE)
