Romania

CEE export growth outstrips China’s

bne IntelliNews October 20, 2017

Romania was the region’s leader in export growth in the six years since the recent crisis, with annual growth averaging 9%, while numerous other CEE countries saw export growth beat China's both pre and post crisis.

Romania’s public debt hiked to 37.4% of GDP

bne IntelliNews October 20, 2017

Romanian public debt rose by €5bn in the year ending August 2017, but remain below the 39.4% it hit at the end of 2014 after tripling since before the global recession.

Poland rises, Croatia surprises on CEE Fast 50

By Clare Nuttall in Bucharest October 17, 2017

Two thirds of the new technology companies in the Central and Eastern Europe in the latest Deloitte Technology Fast 50 Central Europe were new entrants to the list, which highlights “the speed our top-performing young companies are developing”.

Romania’s “red cardinal” challenged but not sidelined

Clare Nuttall in Bucharest October 17, 2017

Romanian PM Mihai Tudose has won a partial victory over PSD and de facto government leader Liviu Dragnea, but this “political thriller par excellence” has some way to run yet.

Romania’s residential construction index exceeds pre-crisis maximum

bne IntelliNews October 16, 2017

Overall construction index was still 32% lower than nine years ago as civil engineering growth lags behind vibrant residential segment.

Romania’s ruling PSD nominates new ministers

Carmen Simion in Bucharest October 15, 2017

Nominees to replace three ministers forced to resign by PM Mihai Tudose amid apparent power struggle with Liviu Dragnea, leader of the ruling PSD.

Three Romanian ministers resign as PM Tudose strengthens grip on cabinet

Iulian Ernst in Bucharest October 13, 2017

Resignations include Deputy PM Sevil Shaideh, a key ally of PSD leader Liviu Dragnea, who until now has maintained informal control over the government despite not holding a cabinet position.

Romania’s industrial growth remains strong at 8.7% y/y in July-August

Iulian Ernst in Bucharest October 13, 2017

The economic recovery in country’s main trading partners in Europe and the acceleration of the activity at Ford’s car plant in Craiova are expected to further drive the country’s industrial activity.

Romania’s headline inflation accelerates in September

Iulian Ernst in Bucharest October 12, 2017

Consumer prices up 1.8% - the fastest rise since November 2013 - and fuel excise tax hike alone will push inflation up to 2.5% y/y by end-2017.

Romania launches €1bn Eurobond as domestic financing cost soars

Iulian Ernst in Bucharest October 12, 2017

Interest rates have increased significantly on the local market on the back of uncertainties generated by the government’s ambiguous fiscal policy.

Female employees get better training opportunities in CEE than Western Europe

Clare Nuttall in Bucharest October 11, 2017

Lithuania is the only EU member state where female employees are more likely to be sent on job-related training by their employer than their male colleagues, finds a study by The Knowledge Academy.

CONFERENCE CALL: Romania, Bulgaria push back against multi-speed Europe

Clare Nuttall in Bucharest October 10, 2017

Bucharest and Sofia aim to use EU presidencies to argue against core vs periphery proposals that could sideline eastern member states and to call for a greater focus on unity.

Romanian PM Tudose announces imminent government reshuffle

Iulian Ernst in Bucharest October 10, 2017

PM announces he will invite “at least two ministers” to leave the cabinet within a few days, most likely including Deputy Prime Minister Sevil Shhaideh, who is the target of a corruption probe.

Romanian Pizza Hut, KFC franchise holder plans IPO on Bucharest bourse

Carmen Simion in Bucharest October 9, 2017

Sphera Franchise Group announced plans for an IPO in Q4 2017, joining a growing number of local private companies that have opted to float on the Bucharest exchange.

Romania’s retail sales growth accelerates to 15.8% y/y in August

Iulian Ernst in Bucharest October 5, 2017

Sales of non-food goods surged by 19.1% y/y in August, the second highest rate since the 2008-2009 recession.

Thousands protest in Bucharest over government’s plans to hike taxes on employees

Carmen Simion in Bucharest October 5, 2017

Most of the promised 25% pay rise for public sector workers will be wiped out as social security contributions are shifted from employers to employees.

Development banks are getting ready for IFRS-9 accounting changes

Vladimir Kozlov in Moscow October 4, 2017

The regional international financial institution International Investment Bank (IIB) held a conference in Moscow on September 28-29 to prepare partners for the introduction of the new IFRS-9 international accounting standards.

OPINION: Can Romania and Bulgaria tame corruption?

Henry Stanek in Paris October 4, 2017

Facing down allegations of rampant corruption tearing apart at the seams of his country, Bulgarian President Ruman Radev is pressing for radical action from the top down and has drafted a new anti-corruption law he calls a "scalpel" for the gangrene.

Rising energy costs push up Romania's industrial prices

Iulian Ernst in Bucharest October 4, 2017

Romania's industrial price growth accelerated to 4.1% y/y in August with energy prices making the greatest contribution while the less volatile prices of consumer, durable and capital goods kept rising steadily.

Bucharest sees Europe’s fastest increase in tourist numbers

bne IntelliNews October 3, 2017

Visitor numbers are still modest compared to CEE hubs like Budapest and Prague, but the Romanian capital is increasingly on the map, helped by the growing number of low-cost flights and efforts to improve its tourist offering.

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