NEMETHY: The case for gold today – again

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors December 12, 2022

In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.

#boycottAustria campaign goes viral after Vienna blocks Romania and Bulgaria from joining Schengen

bne IntelliNews December 9, 2022

Romanians close accounts with Austrian banks, shun Alpine ski resorts and reject Austrian brands on the local market.

THE VIEW FROM MITTELEUROPA: Explaining the Austrian veto of Schengen membership for Romania and Bulgaria

Marcus How of Vienneast in Vienna December 9, 2022

Never pass up an opportunity to use foreign policy as a prop in domestic theatre. This is the mantra apparently taken to heart by the Austrian government, which is vetoing the accession of Romania and Bulgaria to the Schengen area.

bneGREEN: Renewables finally achieve turbocharged growth

Richard Lockhart in Edinburgh December 9, 2022

Solar is set to overtake coal as the world’s leading source of power supply by early 2025, the IEA said

EU admits Croatia to Schengen, rejects Bulgaria and Romania

bne IntelliNews December 8, 2022

Decision was a slap in the face to politicians from Bulgaria and Romania, which joined the EU years earlier than Croatia but failed to convince Schengen members they can secure the zone's borders.

bneGREEN: Vertical farms to feed the cities of the future

Clare Nuttall in Glasgow December 7, 2022

Indoor vertical farms in Emerging European cities are replacing costly and polluting air imports to supply leafy vegetables for the region’s urban populations.

CESEE banks expect credit conditions to tighten and NPLs to rise

bne IntelliNews December 7, 2022

With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.

Romania’s October retail sales confirm weaker private demand

bne IntelliNews December 7, 2022

Retail sales increased by 4.5% y/y in October, but the growth was mainly driven by the 15.6% y/y surge in fuel sales.

Foreign investment has transformed Eastern Europe, says wiiw report

Robert Anderson in Prague December 2, 2022

Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.

bneGREEN: Energy efficiency investment turns the corner in 2022, but more is needed

Richard Lockhart in Edinburgh December 2, 2022

Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.

bneGREEN: EU energy ministers agree to speed up permitting and deployment of renewables temporarily

Roberta Harrington in London November 29, 2022

A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.

Three contenders reportedly in race for Enel’s €1.9bn Romanian energy assets

Iulian Ernst in Bucharest November 29, 2022

Italian utility group Enel plans to sell its subsidiaries in several countries including Romania next year.

Austrian chancellor confirms support for Croatia’s Schengen entry, but not Bulgaria’s or Romania’s

bne IntelliNews November 25, 2022

Austria and Sweden are expected to veto enlargement of the Schengen are to Romania and Bulgaria at the EU Council meeting in December.

bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023

Nadège Tillier is Head of Corporates Sector Strategy at ING, Maureen Schuller is head of financials sector strategy at ING, Benjamin Schroeder is a Senior Rates Strategist at ING November 23, 2022

Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.

Schengen decision looms for Bulgaria, Romania and Croatia

bne IntelliNews November 23, 2022

As hopes of a positive decision on December 8 fade, the three Southeast European countries are making a final push to persuade Schengen members to admit them.

Orban sparks diplomatic storm with football scarf featuring Greater Hungary

Tamas Csonka in Budapest November 23, 2022

Ukraine, Romania, Croatia, and Slovakia protested against the gesture, which comes at a time Hungary faces growing isolation in Europe.

Enel to exit Romania as it sees no room for further growth

Iulian Ernst in Bucharest November 23, 2022

“Friendly separation” planned just two years after Enel announced €2bn investments in green energy projects in Romania.

Ukraine faces one of worst declines in GDP from a war, says EBRD

Robert Anderson in London November 22, 2022

The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.

Hitachi's GlobalLogic acquires Romanian IT firm Fortech

bne IntelliNews November 22, 2022

Acquiring Fortech, one of Romania’s largest independent digital engineering firms, is part of GlobalLogic’s strategy to establish a wider European footprint.