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.
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.
PSD and PNL put rivalries aside to form new government led by Nicolae Ciuca, ending lengthy political crisis.
On November 25 one of Romania’s most controversial and unnecessarily prolonged political crises, with profound economic and social implications, came to an end.
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.
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.
Banks may be tested by the withdrawal of government help to companies, particularly as infection rates begin to soar again.
Aquila's debut was the largest IPO completed by a private company in Romania in the last four years.
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 eased to 8% y/y in the third quarter of the year from 13.8% y/y in Q2.
Romania’s seasonally-adjusted industrial production index plunged by 4.6% in the third quarter of the year.
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?
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.
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.
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.
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.
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.
National Bank of Romania increased the refinancing rate to 1.75%, against consensus expectations for a steeper tightening of the monetary stance.
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.
Amid the global stock market rally as the world recovers from the coronavirus pandemic, the Bucharest Stock Exchange has performed particularly strongly.