According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.
The financial results came against the background of the decrease in the purchasing power of customers and the change in consumer preferences from online to physical bookstores.
Critics slam President Iohannis’s decision to appoint his adviser as education minister as he seeks to rescue widely-criticised Educated Romania project.
As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.
The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
Deal will help Alten strengthen its presence in Romania and the broader Central and Eastern Europe region.
Romania’s largest chemical group Chimcomplex is one of the top natural gas consumers in the country.
Romania’s GDP is expected to grow by 4.8% in 2022 and 3.4% in 2023, “supported mainly by momentum in domestic demand”, the IMF said.
The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.
Obstacle to hopes is Russia’s ownership of 40% of world's uranium conversion infrastructure, vital to making nuclear fuel.
The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.
Bucharest will try to speed up development of the offshore Neptun Deep and the onshore deep Caragele field that together would cover Romania’s gas consumption for up to ten years.
Profitability of construction activity deteriorated significantly in the second quarter of 2022.
Bucharest sweetened terms for telcos building 5G networks in Romania, but companies will no longer get preferential electricity prices.
Talks on a listing of Moldova Agroindbank on the Bucharest Stock Exchange are in progress as the bank seeks to raise funds for future development.
Fast-growing private medical services provider MedLife enters the wellness segment with acquisitions of SanoPass and Sweat Concept One gyms.
The European Central Bank has decided on the largest rate hike since the start of the monetary union and has given the impression that it is fully determined to do more on September 7.
After years of delays, the IPO of Romania's largest electricity producer Hidroelectrica is expected by the end of June 2023.
After surviving the pandemic thanks to generous government support, smaller airlines are now struggling with soaring fuel and labour costs.