After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.
The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.
The sole tangible aid extended by Romania’s government to firms is a promise to pay unemployment benefits to 75% of the employees whose labour contracts are suspended as a result of the crisis. But even this is tricky, managers say.
Economic consultancy Capital Economics has slashed its growth forecast for the Central and Eastern Europe (CEE) to a 2% y/y contractions from the previous 2.3% expansion in 2020, as a result of the coronavirus.
Real estate consultancy points to the strong IT&C, scientific and professional services sectors in the Romanian capital are helping to protect property market from the fallout from the pandemic.
Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.
Malls have been shut as part of the measures to contain the coronavirus epidemic, but supermarkets are seeing robust demand as Romanians stock up on food.
Restricting social interaction is a vital part of the efforts to delay the spread of the coronavirus pandemic, but in some countries people fear politicians will use the opportunity for their own ends.
Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.
Romania's two main automakers will suspend their operations at least until April 5 as European car markets are hammered by the pandemic.
There is a new acronym in the economists' lexicon: VUCA. It is short for “Volatile, Uncertain, Complex and Ambiguous” as pundits are struggling to explain a crisis that is coming at us from all sides simultaneously.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.
Scandals over illegal waste imports have erupted in the two poorest EU states, Bulgaria and Romania, as two years on from China’s ban on plastic waste imports, developed countries are still struggling to dispose of waste they cannot recycle at home.
Rare moment of unity as Romanian MPs back new government to tackle the Covid-19 epidemic.
The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.
Romania’s two main car factories are benefitting from the country’s large network of auto parts suppliers that has allowed them to maintain production despite interruptions to global supply chains.
Bucharest-based game developer Amber will merge with Scorpius Games, another local independent game studio in the country.
Opposition MPs are understood to be considering giving their votes to prime minister designate Citu’s cabinet, to avoid leaving the country without a government to deal with the coronavirus outbreak.
The funds raised by Romania-based Vivre Deco, one of the largest online retailers of furniture and decorations in Central and Eastern Europe, will be used to finance the company's accelerated development strategy.
The main index of the Bucharest Stock Exchange, BET, took a double-digit plunge during the first hour of trading on March 9, to end the day with a 7.5% loss compared to Friday’s closing.