Romania
Romania’s industrial output enters recovery mode in May
Industrial production rose by 15.1% m/m in May, partly recovering after the deep 27.9% dive in April.
$225mn funding values Romanian RPA unicorn UiPath at over $10bn
The funding was accelerated by the COVID-19 crisis, during which demand for software and automation robots exploded, said co-founder Daniel Dines.
Romania’s trade gap narrows in May despite weak exports
The foreign trade gap in Romania contracted by 15.6% y/y to €1.25bn in May, but the latest foreign trade numbers don’t bring much optimism.
COMMENT: The new Romanian leu 15 years on
The re-denomination of the Romanian leu in 2005 had lasting economic and emotional consequences for the population and for domestic and international markets.
ING Bank launches fashion marketplace in Romania
ING takes on Romanian online retailers Fashion Days and answear.ro, but plans international expansion for its DealWise platform.
Romania’s retail sales still 5.4% down y/y in May
Sales lag below 2019 level despite bouncing back in May from their plunge in April.
Microsoft sets up new development centre in Romania
The Movial office in Iasi will become the fourth technology development centre in the region for Microsoft.
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Romania’s Blue Air goes from flying high to seeking debt restructuring
Romania's biggest airline by the number of passengers transported has initiated a preventive agreement as it aims to avoid insolvency by restructuring its overdue debt worth over €100mn.
BUCHAREST BLOG: Romania becomes the latest battleground in Central Europe’s gender wars
A law approved by both houses of the Romanian parliament in June bans the teaching of gender studies in schools and universities. Opponents warn Romania is following in the footsteps of Central Europe's "illiberal democracies".
Clearstream adds Romanian equities to its network
Foreign investors have been pushing for the move that will give them easier access to the Romanian capital market.
Economic sentiment in CEE picks up in June, but still deeply depressed
The economic sentiment indicators started to pick up again in June across Central and Eastern Europe (CEE), but there are big differences between the countries as they start to recover from the coronacrisis at their own speeds
Romanian online retailer eMAG begins expansion in Hungary
Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.
Restrictions come down again in emerging Europe as coronavirus cases surge
Several countries in emerging Europe have re-imposed lockdowns and border restrictions to prevent the spread of the novel coronavirus after reporting spikes in new infections.
Illicit cigarette consumption declines in eastern EU states
KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.
Romanian unicorn UiPath expects $10bn valuation in new financing round
Enterprise robotic process automation software company is reportedly preparing a new round of financing that would increase its market value to over $10bn.
COMMENT: Global remittances to suffer a blow from COVID-19
Instead of triggering an increase in remittance payments, which is typical during times of crisis, the uncertainty surrounding the COVID-19 pandemic has caused migrant payments to households in developing countries to slow dramatically.
Emerging Europe banks face surge in distressed loans when COVID support measures expire
Vienna Initiative report warns banks heading for a "cliff-edge effect of new distressed borrowers", followed by successive waves of new NPLs.