Romania

NEMETHY: Is the world heading towards a “polycrisis”?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors October 5, 2022

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.

Bonds of Romanian online retailer Elefant plunge on weak H1 results

bne IntelliNews October 5, 2022

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.

Romanian president tries to save flagship education strategy after plagiarism scandal

Iulian Ernst in Bucharest October 4, 2022

Critics slam President Iohannis’s decision to appoint his adviser as education minister as he seeks to rescue widely-criticised Educated Romania project.

Czechs try to transform EU's relationship with Israel

Robert Anderson in Prague October 3, 2022

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.

bneGREEN: Fit for 55 – not fit for purpose

Richard Lockhart in Edinburgh September 30, 2022

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.

More pain stored up for Emerging Europe in 2023

bne IntelliNews September 29, 2022

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.

French Alten takes over Romanian tech firm Qualitance

bne IntelliNews September 29, 2022

Deal will help Alten strengthen its presence in Romania and the broader Central and Eastern Europe region.

Romania's Chimcomplex fires 20% of its workforce as high gas price impacts it business

Iulian Ernst in Bucharest September 27, 2022

Romania’s largest chemical group Chimcomplex is one of the top natural gas consumers in the country.

IMF sees Romania’s economy growing by 4.8% in 2022, analysts are even more bullish

bne IntelliNews September 27, 2022

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.

BRUEGEL: National policies to shield consumers from rising energy prices

Giovanni Sgaravatti for Bruegel, Simone Tagliapietra for Bruegel, Georg Zachmann for Bruegel September 26, 2022

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.

Kazakhstan offers Europe chance to kick its Russian uranium habit

Aida Kadyrzhanova in Almaty September 26, 2022

Obstacle to hopes is Russia’s ownership of 40% of world's uranium conversion infrastructure, vital to making nuclear fuel.

ING: Eurozone PMI suggests the region may already be in recession

Bert Colijn Senior Economist Eurozone for ING September 26, 2022

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.

Romania’s government to speed up major natural gas projects

Iulian Ernst in Bucharest September 22, 2022

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.

Construction activity resilient in Romania despite rising costs

bne IntelliNews September 20, 2022

Profitability of construction activity deteriorated significantly in the second quarter of 2022.

Romania expects €200mn from 5G licenses in 2022

bne IntelliNews September 15, 2022

Bucharest sweetened terms for telcos building 5G networks in Romania, but companies will no longer get preferential electricity prices.

Moldova’s largest bank MAIB seeks listing in Bucharest

bne IntelliNews September 14, 2022

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.

Romania's MedLife buys up health-tech company SanoPass

bne IntelliNews September 13, 2022

Fast-growing private medical services provider MedLife enters the wellness segment with acquisitions of SanoPass and Sweat Concept One gyms.

ING: ECB hikes by a historic 75bp, more hikes in the works

Carsten Brzeski Global Head of Macro for ING Research September 9, 2022

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.

Fondul Proprietatea selects investment banks for Hidroelectrica IPO

Iulian Ernst in Bucharest September 9, 2022

After years of delays, the IPO of Romania's largest electricity producer Hidroelectrica is expected by the end of June 2023.

Fears more Emerging Europe airlines to follow Romania’s stricken Blue Air

bne IntelliNews September 8, 2022

After surviving the pandemic thanks to generous government support, smaller airlines are now struggling with soaring fuel and labour costs.

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