BUCHAREST BLOG: Romania becomes the latest battleground in Central Europe’s gender wars

Clare Nuttall in Glasgow July 2, 2020

A law approved by both houses of the Romanian parliament in June bans the teaching of gender studies in schools and universities. Opponents warn Romania is following in the footsteps of Central Europe's "illiberal democracies".

Clearstream adds Romanian equities to its network

Iulian Ernst in Bucharest June 30, 2020

Foreign investors have been pushing for the move that will give them easier access to the Romanian capital market.

Economic sentiment in CEE picks up in June, but still deeply depressed

bne IntelliNews June 29, 2020

The economic sentiment indicators started to pick up again in June across Central and Eastern Europe (CEE), but there are big differences between the countries as they start to recover from the coronacrisis at their own speeds

Romanian online retailer eMAG begins expansion in Hungary

bne IntelliNews June 25, 2020

Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.

Restrictions come down again in emerging Europe as coronavirus cases surge

bne IntelliNews June 23, 2020

Several countries in emerging Europe have re-imposed lockdowns and border restrictions to prevent the spread of the novel coronavirus after reporting spikes in new infections.

Illicit cigarette consumption declines in eastern EU states

Clare Nuttall in Glasgow June 20, 2020

KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.

Romanian unicorn UiPath expects $10bn valuation in new financing round

bne IntelliNews June 19, 2020

Enterprise robotic process automation software company is reportedly preparing a new round of financing that would increase its market value to over $10bn.

COMMENT: Global remittances to suffer a blow from COVID-19

Gerelyn Terzo of Sharemoney in New York June 18, 2020

Instead of triggering an increase in remittance payments, which is typical during times of crisis, the uncertainty surrounding the COVID-19 pandemic has caused migrant payments to households in developing countries to slow dramatically.

Emerging Europe banks face surge in distressed loans when COVID support measures expire

bne IntelliNews June 18, 2020

Vienna Initiative report warns banks heading for a "cliff-edge effect of new distressed borrowers", followed by successive waves of new NPLs.

Romania moves to terminate talks with Chinese partner in nuke project

Iulian Ernst in Bucharest June 15, 2020

Bucharest asked Nuclearelectrica to terminate talks with CGN on expanding Cernavoda nuclear power plant, as discussions yielded no results in seven years.

CEE banks heading for one of their worst crises in 10 years

Clare Nuttall in Glasgow June 15, 2020

Post-COVID-19, banks in Central and Southeast Europe expect demand for financing to contract sharply, credit standards to tighten and an increase in NPLs, a new EIB survey shows.

Central and Southeast Europeans have highest tolerance for corruption among EU members

bne IntelliNews June 14, 2020

People from the new EU member states that joined from 2004 onwards are more likely to think it is acceptable to do a favour, give a gift or give money to get something from a public administration, shows a new survey from Eurobarometer.

Romania’s wages come to a standstill under lockdown

bne IntelIiNews June 12, 2020

The average net salary in Romania in April, the first full month of lockdown, decreased by 3.7% compared to March.

Romanian lawmakers pass law freezing sale of state assets for two years

Iulian Ernst in Bucharest June 11, 2020

Law initiated by opposition MPs to prevent assets being sold off at low prices during pandemic-induced recession to complicated the long-awaited IPO of energy producer Hidroelectrica.

Residential property sector thrived in Romania’s richest regions in Q1

Iulian Ernst in Bucharest June 11, 2020

The number of new housing units completed in Q1 reached 12,714 units, 17.3% more than in the same period last year.

Romania’s economy eases to slowest growth in nearly six years

Iulian Ernst in Bucharest June 10, 2020

GDP growth slowed to 2.4% y/y in Q1, as domestic demand — the main growth driver — lost momentum.

bne's Despair Index paints a mixed picture during the corona storm

Ben Aris in Berlin June 9, 2020

We have updated bne IntelliNews Despair Index, which better reflects what damage something like the coronacrisis does to the bottom half of society in the countries of New Europe. While the index has ticked up, the damage is limited so far.

Romanian banks post 9% y/y smaller profit in Q1

bne IntelIiNews June 2, 2020

The coronavirus pandemic drove down the local banks' profits as several lenders set aside provisions to mitigate the higher risks generated by the COVID-19 crisis.