Romania
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World must invest $8 trillion in renewables by 2030 to meet COP28 goal
Investment of as much as $8 trillion in renewable energy and half of that in grids and storage is required to meet the goal of tripling renewable energy capacity by 2030, as agreed at COP28 in Dubai in December.
Bulgaria and Romania to revive €6bn Danube hydropower project
Neighbouring countries are updating old plans to build a major new hydropower plant on the Danube between Nikopol and Turnu Magurele.
Balkan governments mull military service amid regional and global tensions
Politicians in Croatia, Romania and Serbia have all discussed a potential move to a form of military service.
Romanian central bank keeps policy rate at 7%
BNR expects steady disinflation after headline inflation dropped from a peak of 16.8% y/y in November 2022 to 6.6% y/y in December 2023.
Warning of new ice age in Europe as currents in the Atlantic approach a catastrophic tipping point
The currents that circulate in the Atlantic are approaching a “tipping point” that will change the way water flows around the oceans of the world, which will have a catastrophic climate impact on countries around the world.
Romanian government blocks sale of Fondul Proprietatea’s stakes in Bucharest Airports, Constanta port and Salrom
Fondul Proprietatea fund manager Franklin Templeton aimed to sell stakes in three major portfolio companies.
EU may sanction Chinese companies for the first time for facilitating Russia’s flourishing trade with friendly countries
The EU is contemplating the unprecedented step of imposing sanctions on three Chinese companies alleged to be aiding Russia's military actions against Ukraine, Bloomberg reports.
Romania’s trade gap narrows by 15% y/y to 9.1% of GDP in 2023
Romania’s trade deficit (chart) narrowed by 15% year on year to €28.9bn in 2023 and the gap-to-GDP ratio narrowed from 11.9% in 2022 (the widest value in the past decade) to 9.1% in 2023 (preliminary bne IntelliNews estimate).
Hydrogen production and demand to grow in 2024, but only slowly
Hydrogen production and use are expected to grow in 2024, but it remains very expensive to produce and transport, making progress slow.
Oil and gas companies to invest over $1 trillion in the next decade expanding production
A report from climate campaign group Global Witness reveals that the fossil fuel sector is anticipated to allocate more than $1 trillion worldwide over the next decade for the expansion of natural gas production.
Earth has already passed 1.5 degrees warming, says study
The Earth may have passed 1.5 degrees Celsius of warming and in fact could soon reach 2 degrees, say international researchers who studied 300-year-old sea sponges in the Caribbean.
One United sees strong growth potential in 'hidden gem' Romania’s property market
CEO Victor Capitanu tells bne IntelliNews pent-up demand in residential and office sectors will fuel growth in coming decades.
Romania to pass deepfake law after central bank chief shown hawking investment scheme
Internet flooded with fake videos showing prominent Romanians apparently promoting get-rich-quick schemes.
Rheinmetall takes over Romanian military vehicles plant to increase footprint on Nato's eastern flank
Dusseldorf-based military equipment company has strengthened its presence in Central and Eastern Europe since the start of the Ukraine war.