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.
Romanians close accounts with Austrian banks, shun Alpine ski resorts and reject Austrian brands on the local market.
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.
Solar is set to overtake coal as the world’s leading source of power supply by early 2025, the IEA said
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.
Indoor vertical farms in Emerging European cities are replacing costly and polluting air imports to supply leafy vegetables for the region’s urban populations.
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.
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 will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.
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.
A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.
Italian utility group Enel plans to sell its subsidiaries in several countries including Romania next year.
Austria and Sweden are expected to veto enlargement of the Schengen are to Romania and Bulgaria at the EU Council meeting in December.
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.
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.
Ukraine, Romania, Croatia, and Slovakia protested against the gesture, which comes at a time Hungary faces growing isolation in Europe.
“Friendly separation” planned just two years after Enel announced €2bn investments in green energy projects in Romania.
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.
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.
Acquiring Fortech, one of Romania’s largest independent digital engineering firms, is part of GlobalLogic’s strategy to establish a wider European footprint.