New Romanian government puts investors on fiscal rollercoaster

Clare Nuttall in Bucharest July 25, 2017

Investors in Romania typically expect a bumpy ride when it comes to the tax regime, with frequently changing rules often motivated by political considerations, but recently it's become really turbulent even by Romanian standards

12-month FDI in Romania drops to €3.9bn in May

bne IntelliNews July 18, 2017

FDI no longer finances Romania's growing Current Account deficit, which is likely to widen further to above 3% of GDP in 2017.

V4, Baltic and SEE states clock up strong new car registrations growth in H1

bne IntelliNews July 16, 2017

Growth in most Central and Southeast European member states outstrips modest 4.7% average increase in demand seen across the EU.

Construction work contracts in Romania

bne IntelliNews July 14, 2017

Subdued investment into public infrastructure projects dragged the construction works volume index down in April and May.

Smaller cities more business-friendly than capitals in Bulgaria, Hungary

Carmen Simion in Bucharest July 14, 2017

World Bank study reveals wide variations in business environment across cities in Bulgaria, Hungary and Romania.

Growth potential of CEE and SEE halved in crisis decade, says IMF official

bne IntelliNews July 13, 2017

Fund’s Europe head warns rapid outflows of skilled workers, ageing workforce and political turmoil are adding to dilemma.

US agrees in principle €3.4bn missile sale to Romania

Iulian Ernst in Bucharest July 12, 2017

Bucharest is still deciding between Raytheon's Patriot and a system from European rival MBDA as Romania steps up military spending to meet Nato commitments.

Sharp population declines reported in Baltic states, Southeast Europe

Akin Nazli in Belgrade July 12, 2017

Lithuania leads the population decline in the Baltic states and Southeast Europe, as overall EU population makes modest increase.

Chemicals imports push up Romania's trade gap by 18%

bne IntelliNews July 11, 2017

Chemicals industry accounts for €2.9bn of Romania's €4.5bn trade deficit as domestic production of fertilisers and other chemical products fails to keep up with demand.

CHINA RISING: Belt and Road Initiative helps shift Chinese investments to Eastern Europe

Clare Nuttall in Bucharest July 10, 2017

Chinese investments in Central and Southeast Europe are on an upward trend that is expected to accelerate as investors shift their attention towards the region.

Illicit cigarettes flood into EU from eastern neighbours

bne IntelliNews July 10, 2017

Ukraine has replaced Belarus as the top source of illegal cigarette imports to EU countries, as the countries on the EU’s eastern borders continue to be the main source of counterfeit and contraband cigarettes.

Romania confirms Q1 GDP growth at 5.7% y/y

bne IntelliNews July 10, 2017

GDP revised upwards as domestic consumption grows faster than previously estimated.

Romania’s anticorruption agency confirms probe linked to PSD leader Dragnea

Iulian Ernst in Bucharest July 10, 2017

DNA issues statement after investigative journalism portal Rise Project claims ruling party leader and his partners made fortunes from public contracts for road rehabilitation and construction.

Romania’s retail sales rally in May driven by non-food segment

bne IntelliNews July 6, 2017

Romania’s overall retail sales increased by 14.1% y/y in May, accelerating from 4.6% y/y in April, as Romanians have higher disposable incomes

Pressure on head of Romanian anti-corruption body increases

Carmen Simion in Bucharest July 5, 2017

DNA chief Laura Kovesi who spearheaded Romania's anti-corruption fight is under attack both from politicians and from members of her own organisation.

Anti-corruption protesters back on the streets in Bucharest

Carmen Simion in Bucharest July 3, 2017

Demonstrators defy thunder and pouring rain to protest against Constitutional Court rulings that will allow the government to weaken anti-corruption legislation.

Romania’s new government comes up with radically revised fiscal policy

Iulian Ernst in Bucharest June 30, 2017

New Prime Minister Mihai Tudose prompted surprise and panic with a new ruling strategy that makes sweeping changes to fiscal and budgetary policy.

Gabriel Resources seeks €3.8bn compensation from Romania over Rosia Montana

Carmen Simion in Bucharest June 29, 2017

Canadian mining firm accuses Bucharest of violating investment treaties as its efforts to develop huge gold and silver deposit in Romania are repeatedly blocked.

CONFERENCE CALL: IIB looks ahead to the next five years

Clare Nuttall in Bucharest June 28, 2017

By 2022 the Moscow-based development bank aims to double its assets, diversify its loan portfolio, and expand the geography of its operations.

Massive cyber attack hits systems in Ukraine, Russia, Western Europe

bne IntelliNews June 27, 2017

Ransomware wreaks havoc on energy, transport and government computers, with disruptions also reported in Denmark, Romania, Spain and UK.