Europe exits the winter heating season with record gas stocks

Newsbase April 9, 2024

The EU has exited the heating season with a record volume of gas in storage, following another mild winter and as a result of reduced industrial demand and a concerted effort by policymakers to boost stockpiles.

Grid bottlenecks on the way in Europe?

Anna Fleck for Statista April 9, 2024

A new analysis by the energy think-tank Ember has found that several countries in Europe could soon face bottlenecks in their national transmission energy grids, as more solar and wind power will be generated than these networks have capacity for.

Summer starts as EU gas tanks start to fill again

Ben Aris in Berlin April 8, 2024

Winter is over, as the EU gas tanks switch from withdrawals to filling mode again in preparation for next winter. Injection into the gas tanks started on April 1, a week earlier than in 2023 and started at an all-time high record level of 59.3% full.

Bulgaria’s retail sales up 0.9% m/m in February

bne IntelliNews April 8, 2024

Year on year, retail sales increased by 3.2%, after falling by 0.1% in January.

Southeast Europe urgently recruiting from developing Asia ahead of summer season

bne IntelliNews April 3, 2024

One of Europe’s poorest regions is tackling labour shortages by importing workers from as far away as Bangladesh, India and Nepal.

Where is green tech made in Europe?

Ben Aris in Berlin April 1, 2024

Europe is home to more than 400 clean tech manufacturing plants, but the distribution is uneven and a few large countries dominate the business of making equipment needed to produce green energy sources.

Bulgaria and Romania join air and sea Schengen area

Denitsa Koseva in Sofia March 31, 2024

After long delays and vetoes by Schengen members, Bulgaria and Romania celebrate partial entry to Europe's border-free Schengen area.

Labour costs in Western Europe still four times higher than in Romania and Bulgaria

Iulian Ernst in Bucharest March 28, 2024

Bulgaria has the EU's lowest labour cost, while Romania still lags well behind Poland and Hungary.

Bulgaria’s Paynetics acquires Bulgarian-UK neobank Novus

bne IntelliNews March 28, 2024

Novus users can monitor their carbon footprint and earn cashback for sustainable purchasing choices through its app.

Bulgaria moves towards sixth snap general election since 2021

Denitsa Koseva in Sofia March 27, 2024

Agreement between Gerb and CC-DB for a joint government with a rotating PM has broken down.

COMMENT: Overheating in Russia and Turkey, but CEE recovering

Ben Aris in Berlin March 27, 2024

The economies of Central and Eastern Europe (CEE), which experienced a period of stagnation last year, are poised for a modest revival in 2024, but both the Russian and Turkish economies are already overheating.

Romania's GDP per capita surpassed Hungary's in 2023

bne IntelliNews March 27, 2024

Romania has been catching up with the EU average faster than Hungary, which fell into recession in 2023.

Bulgaria moves closer to deal on selling Russian-made reactors to Ukraine

bne IntelliNews March 24, 2024

Reactors originally intended for Belene NPP project now likely to sold to Ukraine to compensate for loss of Zaporizhzhia NPP to Russia.

Bulgaria thrown into new political crisis, snap general election likely

Denitsa Koseva in Sofia March 20, 2024

Hopes of progress on Schengen and Eurozone entry dashed after Gerb blows up talks with CC-DB on government rotation.

Southeast Europe’s major cities are emptying out

bne IntelliNews March 19, 2024

Eurostat data shows fall in populations of biggest urban areas in Bulgaria, Croatia and Romania in last five years.

A surprise EU proposal to expand agricultural ”emergency brake” import restrictions will cost Ukraine €1.7bn

Ben Aris in Berlin March 19, 2024

EU countries have overnight agreed to impose new restrictions on Ukrainian agricultural imports that will cost the cash strapped country €1.7bn and hurt its ability to fight the war against Russia.

KYIV BLOG: EU finalises €5bn Ukraine Peace Fund contribution that will see little new money sent to Kyiv

bne IntelliNews March 18, 2024

EU ambassadors agreed to back a new €5bn Ukraine Assistance Fund on March 13, part of the EU's off-budget European Peace Facility (EPF) that is used to partially reimburse member countries for the weapons they provide to Ukraine.

Bulgaria heading towards new snap election as talks on government rotation fail

Denitsa Koseva in Sofia March 18, 2024

Gerb's Mariya Gabriel has given CC-DB until noon to agree to the party's terms to form a new government, or Bulgaria will hold its sixth snap general election

Support for Nato membership falls sharply in Southeast Europe

bne IntelliNews March 17, 2024

Under half of Montenegrins now back Nato membership, and only 33% would help another member in case of attack.

NGO warns Bulgaria over plans to swap coal for fossil gas

bne IntelliNews March 14, 2024

CEE Bankwatch says Sofia's intention to replace coal-fired with gas-fired power plants is unfeasible given it has no strategy or financial plan.