Romania

Romania’s headline inflation further accelerates to 3.2% y/y in November

Iulian Ernst in Bucharest December 13, 2017

The sharp rise in the prices of some food items and the energy price contributed to the inflationary pressure, and inflation is likely to speed up further going into 2018.

Romanian Chamber of Deputies adopts controversial judicial laws

Carmen Simion in Bucharest December 12, 2017

New laws will extend government control over the judiciary, sparking protests within Romania and criticism from the European Commission.

Romania’s imports hit new maximum in October

bne IntelliNews December 12, 2017

Rising wages have boosted consumption recently, pushing exports up to their highest level in several decades.

10,000 protest in Bucharest against planned changes to judicial laws

Carmen Simion in Bucharest December 11, 2017

Protests against plans to extend government control over the judiciary gather momentum in Romania as opposition leaders including former prime minister Dacian Ciolos join the crowds on Victory Square.

BOOK REVIEW: Russia plays a weak hand strongly in Southeast Europe

Clare Nuttall in Belgrade December 5, 2017

Russia has clawed its way back from its weak position after the end of the Cold War to make firm friends across Southeast Europe even in countries that are firmly in the Western camp.

Romania's last king dies at 96

Iulian Ernst in Bucharest December 5, 2017

Reinstatement of the monarchy an even more distant prospect after the death of popular King Mihai, who took Romania out of its wartime alliance with Nazi Germany.

Consumption pushes up Romania’s GDP growth to 8.8% y/y in Q3

Iulian Ernst in Bucharest December 5, 2017

Drivers behind the recent outstanding growth - household consumption and this year's bumper harvest - are likely to ease next year, making the government's expectations of 5.5% GDP growth in 2018 look very optimistic.

Romanian cybersecurity giant gets new private equity backer

bne IntelliNews December 4, 2017

30% stake sold to Vitruvian Partners in deal that values Bucharest-based Bitdefender at over $600mn.

Romania’s government drafts austere 2018 budget

Iulian Ernst in Bucharest November 30, 2017

Radical departure from previous expansionary policy is likely to spark more protests as public sector workers lose out on pay rises and benefits.

Geothermal starts to glow in Southeast Europe

Clare Nuttall in Bucharest November 22, 2017

Turkey is an emerging geothermal superstar and countries across Eastern Europe are increasingly harnessing underground energy to provide cheap and eco-friendly local heating and energy.

Romanian anti-corruption prosecutors freeze assets of ruling party leader

Iulian Ernst in Bucharest November 22, 2017

€28mn worth of assets frozen as prosecutors probe PSD leader Liviu Dragnea in connection to money siphoned off from EU-funded road rehabilitation projects.

Romania’s banks report €300mn profits in Q3

bne IntelliNews November 21, 2017

Banks have posted robust profits for the last three years, and balance sheets have improved as banks gradually settle their bad loan issues.

Romania’s ruling PSD claims “parallel and illegitimate state” is trying to seize power

Carmen Simion in Bucharest November 20, 2017

Conspiracy theory — apparently referring to Romania’s anti-corruption agency — divides party, with influential PSD MEPs accusing party leader Liviu Dragnea of losing touch with reality and battling an imaginary enemy.

Romania’s FDI surges by 37% in Q3, strengthening domestic demand

Iulian Ernst in Bucharest November 16, 2017

Rise in FDI was driven by inter-company lending, while "genuine" FDI by new investors was smaller.

EC criticises Bulgaria and Romania over sluggish judicial reforms, anti-corruption efforts

Denitsa Koseva in Sofia and Carmen Simion in Bucharest November 15, 2017

Reform momentum lost in Romania, where efforts to undermine the anti-corruption fight have sparked mass protests, while reforms in Bulgaria lack transparency, says the latest CVM report.

Romania reports stunning 8.8% GDP growth in Q3

Iulian Ernst in Bucharest November 14, 2017

Economy expanded by 8.8% y/y in Q3, most likely driven by the services sector fuelled by the robust domestic demand for consumption.

Romania’s currency hits weakest level in five years

Iulian Ernst in Bucharest November 14, 2017

Romanian leu falls close to 4.65 to the euro and a further weakening is expected this year unless there is a strong inflow of transfers from the European Union budget.

Romanian anti-corruption prosecutors start investigation into leader of ruling PSD

Carmen Simion in Bucharest November 13, 2017

Probe launched as the government attempts to increase control over the judiciary, sparking a new wave of mass protests.

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