Romania

bneGREEN: EU MEPs back binding methane targets

bne IntelliNews October 25, 2021

In a resolution on the EU’s strategy for cutting methane emissions, MEPs voted 563 to 122 in favour of introducing binding measures and targets on methane abatement, in order to significantly reduce emissions by 2030, in line with Paris goals.

Romania’s president appoints General Nicolae Ciuca as second PM-designate

bne IntelIiNews October 22, 2021

Ruling PNL party plans to form a minority cabinet with the support of the ethnic Hungarian UDMR, and without their former partners, the USR.

Ciolos fails to win confidence vote in Romanian parliament

bne IntelIiNews October 21, 2021

USR's leader cabinet failed to secure support from any other party and was only backed by 88 MPs out of a total of 466.

Balkan Stream countries hope to avoid worst of international gas crisis

Clare Nuttall in Zagreb October 21, 2021

While the debate rages over the Nord Stream 2 pipeline, a separate pipeline system carrying Russian gas to Southeast Europe has been quietly opened over the last few years, which enables the countries on its route to avoid the worst of the gas crisis

wiiw hikes 2021 CEE growth forecast to 5.4%

Robert Anderson in Prague October 21, 2021

Growth is predicted to fall to 3.7% in 2022 and 3.5% in 2023 because of base effects, monetary tightening and more significant external headwinds.

bneGREEN: Green policies set to reduce EU gas demand to baseload core

By Richard Lockhart in Edinburgh October 18, 2021

While the current gas crisis in the EU sees record-high wholesale gas prices, hurting consumers and causing the latest round of a supply disputes with Russia, the race to net zero by 2050 could have deeper long-term consequences for EU gas demand.

bneGREEN: Romanian bank BCR issues first green bond

bne IntelliNews October 15, 2021

Lender BCR joins a growing number of corporate issuers of green bonds in Romania.

Romania’s hospitals overwhelmed by devastating fourth wave of pandemic

bne IntelliNews October 14, 2021

Military hospitals expand capacity to treat COVID-19 patients and neighbouring countries offer help.

Romania’s industry stagnates, dragged down by disruptions in car production

bne IntelliNews October 14, 2021

Romania's automotive industry had been going strong pre-crisis and seemed to recover in late 2020 — only to be depressed by the semiconductor crisis this year.

CEE needs to speed up transition to new growth model, argues GLOBSEC report

bne IntelliNews October 12, 2021

Annual CEE Strategic Transformation Index puts Slovenia top in CEE (after Austria), followed by Czechia and Poland.

Romania’s trade gap one quarter wider than before crisis

bne IntelliNews October 12, 2021

Strong growth in both exports and imports in August resulted in trade gap of €1.73bn.

CEE/SEE countries unite in defence of nuclear power

bne IntelliNews October 12, 2021

EU’s pro-nuclear member states want nuclear energy to be included in the bloc's green taxonomy as a way to ameliorate climate change.

Romania’s stock exchange outperforms global benchmarks in September

Iulian Ernst in Bucharest October 11, 2021

The Bucharest Stock Exchange's main BET index surged by 29% in January-September, more than double the growth of the US’ S&P 500 index or Europe’s STOXX600.

Acting Romanian PM Citu angers opposition with €200mn gift to mayors

Iulian Ernst in Bucharest October 8, 2021

Opposition Social Democrats say they will file criminal charges against Florin Citu, claiming he channeled the money to mayors who backed him in the National Liberal Party leadership election after losing confidence vote.

Political turmoil triggers interest rate normalisation cycle in Romania

Iulian Ernst in Bucharest October 5, 2021

A couple of hours before the fall of Florin Citu's government, the National Bank of Romania hiked the monetary policy interest rate by 25bp to 1.5%.

Romanian parliament votes to dismiss Florin Citu's government

Iulian Ernst in Bucharest October 5, 2021

After MPs vote to oust Citu, it's unclear how a new government could be formed by the current parliament, and early elections cannot be ruled out.

Fire rips through Romanian COVID-19 ward killing seven

Iulian Ernst in Bucharest October 1, 2021

Third deadly fire breaks out in a Romanian COVID-19 hospital as government struggles to manage the fourth wave of the pandemic.

Central bank survey shows FDI in Romania is mostly reinvested profits

bne IntelliNews October 1, 2021

New FDI, meaning equity investments by incumbent or new foreign investors, added up to less than €1bn in 2020.

Political turmoil, COVID-19 wave subdue investors’ fundamental optimism in Romania

Iulian Ernst in Bucharest September 30, 2021

Investors share robust confidence in the Romanian economy, but the political turmoil and, to some extent the potential impact of the fourth wave of the pandemic, are toning down their optimism.

Romanian online retailer Elefant repays bond before planned IPO

bne IntelliNews September 28, 2021

Elefant.ro is reportedly planning an IPO on the Bucharest Stock Exchange in November.

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