Lukashenko says he may quit as president
Belarus hits EU with tit-for-tat sanctions
Belarusian police introduce colour-coded torture system for detained protesters
Kremlin publicly condemns Belarusian police brutality in hint of growing frustration with Lukashenko
Russian services PMI rises to 48.2, but remains underwater as recovery continues to slow
Russia to start mass vaccinations on December 7
Azerbaijan’s Aliyev calls on Armenia, Russia, Turkey and Iran to assist in creating Nakhchivan land corridor
FPRI BMB Russia: Sberbank releases a three-year transformation strategy to e-commerce concern
Ukraine’s banking sector continues recovery, but profits still lagging last year
Ukraine’s real wages up over 10% in October but have been stagnant in dollar terms for almost a year
FPRI BMB Ukraine: Public has confused opinions on resolving the Donbas conflict
Western Balkans plus Ukraine subsidised coal with over €900mn in 2018-2019
Estonian parcel robot firm Cleveron eyes €30mn state loan
Estonia’s chief auditor says €1bn in state COVID-19 loans issued haphazardly
Economic sentiment in CEE falls in November as recovery momentum splutters
Estonian animation studio Imepilt to hold IPO
Brighter days ahead: The economic bounce back in 2021
Central, Southeast Europe stock markets jump in anticipation of COVID-free future
VISEGRAD BLOG: An easing of trade tensions but still an uncertain situation for export-oriented Central Europe
Hungary's PM risks isolation as Poland mulls dropping EU budget veto
Poland ready to back down from veto of EU budget
Hungary's ruling party in damage control mode after MEP sex scandal bombshell
Poland’s PMI remains stuck just above the improvement line at 50.8 in November
Czech companies dominate this year’s Deloitte Technology Fast 50 CE
Coronacrisis to get worse before it gets better forecasts wiiw
EU diplomats say no chance of Bulgaria removing veto for Skopje to start EU accession talks
IMF says downside risks to Albanian economy are increasing
EU ministers fail to agree on launch of accession talks with Albania and North Macedonia
Western Balkans commit to green agenda and regional common market at Sofia summit
Bosnia’s opposition ousts nationalist parties in major cities
Bosnia’s main ethnic parties fight to hold onto power in local elections
Southeast Europe’s EU members to get biggest boost from next budget and recovery funds
Bulgaria imposes 3-week lockdown to slow down COVID-19 spread
CEE politicians highlight trade and security ties as they congratulate Biden
Breakaway Transnistria fully under Sheriff’s control as Obnovlenie party sweeps board in parliament election
Moldova’s presidential election is over, now the battle for the parliament begins
Moldova’s foreign policy reset
Russian establishment quick to congratulate Moldova's new president-elect
Rising COVID-19 cases put intense pressure on CEE healthcare systems
MEPs urge European Commission to act against Hungarian media financing in North Macedonia and Slovenia
North Macedonia mulls decriminalising cannabis to boost tourism
Retail surpass pre-crisis peak as Romanians shop instead of holiday
Romanian venture capital firm Catalyst launches new €40mn-50mn fund for TMT
Aegon to sell its CEE business to Vienna Insurance for €830mn
The state is back in business
Slovenian PM Jansa stands alongside Hungary and Poland in EU rule of law row
BEYOND THE BOSPORUS: Turkish number crunchers deliver November inflation surprise of 14%
Erdogan needs to go says analyst assessing Turkey’s economic collapse
Ukraine strikes deal with Turkey to produce killer drones instrumental in Karabakh conflict
In Karabakh deal, as many questions as answers
Protesters flood Yerevan demanding Armenia’s “traitor” PM quit over Nagorno-Karabakh surrender
Who emerge as the real winners from the bloody Nagorno-Karabakh conflict?
Below average 2020 wine production destined for volatile and uncertain global market
Iran calls on Saudis to limit $67bn defence spending to Tehran’s $10bn
Iranian prosecutors pledge to pursue Trump for Soleimani killing even after he leaves White House
No reaction from Kazakh elites as bombshell FT report says Nazarbayev’s son in law siphoned millions from pipeline scheme
UK court freezes $5bn in assets connected to fugitive Kazakh banker Ablyazov
Attack of the Debt Tsunami: global debt soars to a new all-time high
Kyrgyzstan's proposed new constitution provokes widespread revulsion
Kyrgyzstan's China debt: Between crowdfunding and austerity
CFC joins RWC in assessing KAZ Minerals buyout offer as under-valuation
China business briefing: Not happy with Kyrgyzstan
Mongolian coal exports to China paralysed as Beijing demands virus testing of truck drivers
Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus
Mongolia in lockdown after suffering first local coronavirus transmissions
Mongolia’s wrestling culture: From the grasslands to the cage
No surprises in Tajikistan as Rahmon retains presidency with 91% of vote
A Tajikistan poised on verge of economic calamity set for vote
Tajikistan revives on-off dispute with Iran
Turkmenistan: The dammed united
Turkmenistan: Everybody yurts, sometimes
Dirty money investigation reviews identified payments worth $1.4bn linked to Turkmenistan
Uzbekistan unveils extensive privatisation programme
Download the pdf version
Romania’s Bucharest Stock Exchange (BVB) held its first session as an emerging market on September 21, when the first two Romanian companies were included in the FTSE Global Equity Index Series (GEIS).
This is an important moment for Romania and its capital market, which thus enters the universe targeted by a wider category of investors, namely emerging markets funds that together have billions of euros under management. Previously, such funds were unable to invest in companies listed on the BVB due to its status as a frontier market.
The promotion to emerging market status comes 25 years after the BVB was re-established in 1995, after being closed during the communist era. “The story of the Bucharest Stock Exchange is, for the most part, the story of modern Romania and is part of our national DNA because it demonstrates the ability of this nation to mobilise itself to achieve an extremely ambitious country goal,” said Radu Hanga, chairman of the BVB board, at a ceremony on September 21.
“[A]after a quarter of a century of work and alignment with the highest standards, the Romanian stock market has reached the level of requirements imposed by our international peers. Never in the recent history of the country has there been such an extensive economic project that would require so much effort and determination over such a long period of time.”
"We are witnessing a historic moment. It is a clear and indisputable international recognition that the Romanian capital market receives. It is more than a validation of the values promoted by the capital market; it is a validation of Romania’s efforts to be included in an unprecedented investment universe,” said BVB CEO Adrian Tanase.
The two Romanian companies to be included in the FTSE Global All Cap Index, and three other indexes, are lender Banca Transilvania (TLV) and energy producer Nuclearelectrica (SNN).
Nuclearelectrica and Banca Transilvania met the FTSE Global All Cap Index eligibility requirements as of June 30, BT Capital Partners stated in its monthly report. Romania’s share in these indexes will be under 0.4%.
However, investment funds focused on emerging markets are now likely to look at other Romanian companies as well.
"Romania has the chance to seize the opportunities offered by the new emerging market status because there are several candidate companies that could meet the liquidity criterion at this moment. New issuers will be able to enter the FTSE Russell indices if they meet the liquidity criterion in the following evaluations. The consolidation of this newly won status can be achieved only by increasing the number of Romanian companies included in the Emerging Markets indices, and this means that we will have more valuable and stronger Romanian companies, which will contribute to the development of the Romanian economy,” commented Tanase.
FTSE Russell, one of the leading international stock indexes providers, decided to promote Romania from frontier to secondary emerging market in September 2019.
The other major index provider, S&P Dow Jones, still has Romania on its watchlist for a similar promotion.
The BVB’s elevation to emerging market status comes at a time when the coronavirus (COVID-19) pandemic and rising political and economic risks in some markets have seen investors in emerging markets capital markets flee for the first time.
Like other stock exchanges around the world, the BVB was affected by the pandemic. Romania’s BET index, which tracks the 17 most-traded companies listed on the BVB stood at 8,659 points at the end of the first half of the year, down 13.21%, which was the ninth most positive performance among EU stock exchanges.
According to data from the BVB, financial instruments in the equity and fixed income segments amounting to around €533mn were listed on the BVB in the first eight months of 2020.
here to continue reading this article
and 5 more for free or purchase
12 months full website access including
the bne Magazine for just $250/year.
Register to read the bne monthly magazine for
Password could contain only
and have 8-20 symbols length.
Please complete your registration by confirming your
A confirmation email has been sent to the email
address you provided.
can't be empty.
No user with
this email address.
Access recovery request have been expired. Please,
Access recover request have been expired.
Please, try again.
To continue viewing our content you need to complete
the registration process.
Please look for an email that was sent to
with the subject line
"Confirmation bne IntelliNews access". This email will have
instructions on how to complete registration
process. Please check in your "Junk" folder in
case this communication was misdirected in your
If you have any questions please contact us at email@example.com
Sorry, but you have used all your free articles fro
this month for bne IntelliNews. Subscribe
to continue reading for only $119 per year.
Your subscription includes:
For the meantime we are also offering a free
digital weekly newspaper to subscribers to
the online package.
Click here for more subscription options,
including to the print version of our
flagship monthly magazine:
Take a trial to our premium daily news
service aimed at professional investors that
covers the 30 countries of emerging
For any other enquiries about our
products or corporate discounts please
contact us at
If you no longer wish to receive
Magazine annual print
Website & Archive
Combined package: web
access & magazine print
Take a trial to our premium daily news service
aimed at professional investors that
covers the 30 countries of emerging Europe: