BUCHAREST BLOG: The life expectancy of Romania’s grand coalition mark 2

Clare Nuttall in Glasgow November 27, 2021

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

bne IntelliNews November 26, 2021

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

bne IntelliNews November 26, 2021

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

Alexandru M. Tanase in London November 25, 2021

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

Iulian Ernst in Bucharest November 24, 2021

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

Iulian Ernst in Bucharest November 23, 2021

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

bne IntelliNews November 18, 2021

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

Iulian Ernst in Bucharest November 18, 2021

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

Iulian Ernst in Bucharest November 18, 2021

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

Iulian Ernst in Bucharest November 16, 2021

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

Iulian Ernst in Bucharest November 15, 2021

Romania’s seasonally-adjusted industrial production index plunged by 4.6% in the third quarter of the year.

NEMETHY: Is bitcoin the new gold?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors November 15, 2021

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?

Digital divide adds to multi-speed recovery from coronavirus finds EBRD

Clare Nuttall in Glasgow November 13, 2021

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

Valentin Tataru chief economist for Romania at ING, Peter Virovacz Senior Economist in Hungary at ING, Leszek Kasek is the Senior Economist in Poland at ING, Rafal Benecki is the Chief Economist in Poland at ING November 12, 2021

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

bne IntelliNews November 12, 2021

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

Valentin Tataru chief economist for Romania at ING November 11, 2021

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

bne IntelliNews November 11, 2021

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

Iulian Ernst in Bucharest November 10, 2021

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

bne IntelliNews November 8, 2021

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

Clare Nuttall in Glasgow November 8, 2021

Amid the global stock market rally as the world recovers from the coronavirus pandemic, the Bucharest Stock Exchange has performed particularly strongly.