Romania
BUCHAREST BLOG: The life expectancy of Romania’s grand coalition mark 2
Political rivals the PSD and PNL have united to end the political deadlock in Romania. But their previous short-lived grand coalition doesn’t bode well.
Concern mounts over new southern Africa coronavirus variant
The EU is planning a ban on travel from southern African countries after a new and highly infectious variant of the coronavirus virus was confirmed in Botswana and South Africa.
Romanian parliament backs new government after long political crisis
PSD and PNL put rivalries aside to form new government led by Nicolae Ciuca, ending lengthy political crisis.
COMMENT: The Romanian political crisis during the pandemic
On November 25 one of Romania’s most controversial and unnecessarily prolonged political crises, with profound economic and social implications, came to an end.
Romanian banks boast record profit and lower NPL ratio in September
The Romanian banking system posted RON6.4bn (€1.3bn) aggregated net profit in January-September, 37% up y/y and 24% more compared to the same period of 2019.
Romanian political crisis ends with formation of unlikely ruling coalition
Romania’s two biggest parties — the National Liberal Party and Social Democratic Party — put aside their rivalry to form a new government headed by Nicolae Ciuca.
Central and Southeast European economies remain fragile, says Vienna Initiative of banks
Banks may be tested by the withdrawal of government help to companies, particularly as infection rates begin to soar again.
Romanian FMCG wholesaler Aquila raises €74mn in Bucharest IPO
Aquila's debut was the largest IPO completed by a private company in Romania in the last four years.
Romania’s new ruling coalition still in limbo after ten days of talks
Romania's two biggest parties are in talks on forming a broad coalition in an attempt to end the country's deepest political crisis in decades, but so far they have struggled to put aside their rivalry and find common ground.
Romania’s economic growth shows signs of fatigue in Q3
Romania’s economic growth eased to 8% y/y in the third quarter of the year from 13.8% y/y in Q2.
Chip crunch and refinery accident send Romania’s industry to five-year low
Romania’s seasonally-adjusted industrial production index plunged by 4.6% in the third quarter of the year.
NEMETHY: Is bitcoin the new gold?
Much has been written about how bitcoin has taken lustre and market share from gold over the past decade. But has the death of gold been much exaggerated?
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Digital divide adds to multi-speed recovery from coronavirus finds EBRD
New EBRD Transition Report warns there is a widening gap between economies that have stepped up their use of online and digital services and those that have fallen further behind.
ING: Sticky inflation risks force CEE central bankers to keep on hiking rates
Disruptions in global value chains continue to weigh on Central and Eastern Europe, and the Delta variant is blurring the outlook for the fourth quarter. Record high inflation can no longer be written off as temporary as rates rise across CEE.
Real wage growth in Romania turns negative in September
The real annual rise of the net wage in Romania turned negative in September as energy prices pushed up inflation, and the trend is likely to continue.
ING: Higher Romanian inflation points to more rate hikes
We anticipated an upside surprise, but the number came in even higher than expected. October inflation reached 7.9% versus our 7.8% estimate. While energy is still to blame, it is clear that price increases have become more generalised.
Headline inflation in Romania exceeds expectations at 7.9% in October
Electricity, gas and fuel prices accounted for over half of the increase in consumer prices, which experienced their fastest growth since the VAT hike in 2010.
Romania’s central bank cautiously raises refinancing rate by 25bp
National Bank of Romania increased the refinancing rate to 1.75%, against consensus expectations for a steeper tightening of the monetary stance.
bneGREEN: Paris Accords targets will be missed, World on course to see 2.7C-3.1C increases in temperature by 2100 without drastic reductions
The global community will miss the Paris Accord target of keeping temperature rises to 1.5C and will see them climb to between 2.7C and 3.1C by 2100 unless emissions are cut by 15% a year from now on.
Bucharest stock exchange rebrands for the digital future in a record year
Amid the global stock market rally as the world recovers from the coronavirus pandemic, the Bucharest Stock Exchange has performed particularly strongly.
