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UPDATE 1-Romania - Factors to watch on July 2
July 2, 2012 / 6:26 AM / 5 years ago

UPDATE 1-Romania - Factors to watch on July 2

(Adds press digest)

BUCHAREST, July 2 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Monday.

FOREIGN EXCHANGE RESERVES

Romania’s central bank is expected to release foreign exchange reserves data for June.

CROATIAN PRESIDENT IN ROMANIA

Croatian President Ivo Josipovic is on a visit to Romania on Monday and is expected to meet President Traian Basescu.

ROMANIA PM PLAGIARISED THESIS, PANEL SAYS

A panel of Romanian academics concluded on Friday that Prime Minister Victor Ponta plagiarised a large part of his doctoral thesis, but Ponta said the finding was politically motivated and he would not resign.

MOODY‘S REVISES ROMANIA RATING OUTLOOK TO NEGATIVE

Moody’s Investors Service on Friday revised its outlook on Romania’s sovereign rating to negative from stable, underscoring risks to the country’s economy from the ongoing euro zone debt crisis.

* TEXT-Moody’s revises Romania’s Baa3 rating outlook

CEE MARKETS

Poland’s zloty led central European currency gains on Friday as euro zone leaders’ decision to help ease Italian and Spanish borrowing costs prompted investors to buy riskier assets.

REHOUSING ROMANIA‘S ROMA SIGNALS SWING TO EXTREMES

Building a wall that closes in a Roma neighbourhood and rehousing families in a dilapidated communist-era office block have earned Catalin Chereches accusations of racism.

But the actions have also helped the mayor of the northern Romanian town of Baia Mare to become the country’s most popular local politician and shown how central Europe’s lacklustre economies and widespread poverty can trigger radical solutions.

MOODY‘S DROPS HIDROELECTRICA‘S CAA1 RATINGS

POWER TARIFFS HIKE

Power tariffs were hiked by 5 percent from July 1 for both households and industrial consumers, Romania’s energy price regulator said, seeking to liberalise the market according to the terms of an IMF deal. Agerpres

GAS TARIFFS

Romania’s energy price regulator ANRE released a calendar to free up gas prices in stages by 2014 for industrial consumers and 2017 for households, as agreed with the IMF and the European Commission. The calendar is subject to gevernment approval.

EMPORIKI BANK

French bank Credit Agricole got approval from Romania’s central bank to take direct control over the local branch of Greek lender Emporiki, in which it has a majority stake. By the end of August the local bank will be renamed Credit Agricole. Ziarul Financiar, Page 6

NEW OPPOSITION PARTY HEAD

Opposition Democrat Liberal Party (PDL) elected senior member Vasile Blaga as new party head in a Saturday convention after former prime minister Emil Boc and other party leaders stepped down last month. Evenimentul Zilei, Page 7

NOTE- For a diary of forthcoming Romanian events, double click, and a calendar of east European economic indicators, see.

For other related news, double click on: --------------------------------------------------------------- Romania Market Debt Romanian forex Romania Market Report Romanian money Emerging Market Debt Emerging forex All Emerging Markets news CEE indicators All East Europe News E.Europe equities TOP NEWS -- Emerging markets TOP NEWS -- Convergence watch Romanian indicators Main page of Reuters poll ---------------------------------------------------------------

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