August 12, 2024

A roundup of domestic and international news

Newsroom, 12.08.2024, 13:55

Inflation. The annual rate of inflation in Romania rose in July, to 5.42%, from 4.94% in June, as the prices of foods went up by 1.71%, of non-foods by 6.92%, and services by 8.52%, according to data published today by the National Institute of Statistics (INS). According to the quoted source, the annual inflation rate in July 2024 compared to July 2023 calculated on the basis of the harmonized index of consumer prices (IAPC) was 5.8%. The National Bank of Romania (BNR) revised downwards the inflation forecast for the end of this year to 4.0%, from 4.9% previously, and anticipates that it will reach 3.4% at the end of 2025, according to the data presented on Friday by the governor of the National Bank of Romania, Mugur Isărescu

Bonds. The Romanian Ministry of Finance is issuing today a new series of government bonds called “Treasure”, with an interest rate of 5.8% for one year and 6.6% for a three year term. The bonds can only be bought by natural persons until September 5, both online and at the Treasury offices or through the rural units of the Romanian Post. They are transferable and can be redeemed in advance, and the income obtained from investing in securities is non-taxable. The funds obtained by the Ministry of Finance through this issue will be used to finance the budget deficit and refinance the public debt.

Harassment. The amendments to the law aimed at speeding up investigations into sexual harassment and assault in public institutions are on the working table of the Bucharest executive this week. The desire of Prime Minister Marcel Ciolacu is that the notifications regarding these facts be quickly transmitted to the prosecutors, even if they are anonymous. The group that is working on the new rules is made up of experts from the Ministries of Education, Interior, Justice, Labor, as well as from the Agency for Equal Opportunities. The changes occur after a series of testimonies regarding sexual assaults in the university space, committed by professors known to the general public, appeared in the mass media. In some cases, prosecution has started. The new law will apply to all state institutions, public and private educational units and will respect the fundamental rights related to petitions that Romanian citizens can submit.

Firefighters. The Romanian firefighters in Greece are participating in an action to extinguish a wild fire near the town of Varnava, located in the prefecture of Attica, about 40 km from Athens. According to the General Inspectorate for Emergency Situations in Bucharest, the mission is difficult because of the rugged terrain, the high temperatures and low humidity, which favor the spread of the fire. According to the assessments of the Greek Civil Protection, the risk of fire remains very high in many areas of the country. There are several outbreaks near the capital, and some residents of the region have received evacuation orders. Dozens of fires have broken out in Greece since Saturday, and firefighters are still struggling to put out some of them. Hundreds of wildfires have occurred this summer in Greece.

Iran. Iran’s elite Revolutionary Guards are conducting military exercises in the country’s western regions that will continue until Tuesday, near the border with Iraq, to “improve combat readiness and vigilance,” an armed forces official said. The exercises take place as the Iranian authorities have promised to retaliate against Israel after the assassination in July of the military leader of the Lebanese Hezbollah movement, near Beirut, in a raid claimed by Israel, and in Tehran of the political leader of Hamas, also attributed to Israel. The Israeli Minister of Defense, Yoav Gallant, has warned Iran and the Hezbollah group that in this case there will be a very strong response. Washington has ordered the accelerated deployment to the Middle East of the USS Abraham Lincoln aircraft carrier, which carries F-35C fighter jets, to bolster its military presence in the region.

Olympic Games. The Summer Olympic Games in Paris came to an end on Sunday, with a closing ceremony at the Stade de France, and the baton was handed over to the next host country – the USA. Weightlifter Mihaela Cambei, silver medalist, carried the flag of Romania, which ended this edition with nine medals won, of which three gold, four silver and two bronze. With this result, Romania ranked 23rd out of 206 participating countries and 84rd among the medal winning countries. The United States finished in first place, with a total of 126 medals, including 40 gold, followed by China, also with 40 gold medals, but a total of 91 medals, and Japan with 45 medals, of which 20 gold. Olympic host country France finished in 5th place with 16 gold, 26 silver and 22 bronze medals. (MI)