Romania
Romania’s BNR more hawkish than expected with 75bp rate hike, more to come
Romanian central bank's rate hike exceeds expectations as near-term inflation outlook worsens amid faster growth rates anticipated for natural gas, electricity and food.
NEMETHY: Is the world heading towards a “polycrisis”?
According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.
Bonds of Romanian online retailer Elefant plunge on weak H1 results
The financial results came against the background of the decrease in the purchasing power of customers and the change in consumer preferences from online to physical bookstores.
Romanian president tries to save flagship education strategy after plagiarism scandal
Critics slam President Iohannis’s decision to appoint his adviser as education minister as he seeks to rescue widely-criticised Educated Romania project.
Czechs try to transform EU's relationship with Israel
As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.
bneGREEN: Fit for 55 – not fit for purpose
The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.
More pain stored up for Emerging Europe in 2023
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
French Alten takes over Romanian tech firm Qualitance
Deal will help Alten strengthen its presence in Romania and the broader Central and Eastern Europe region.
Romania's Chimcomplex fires 20% of its workforce as high gas price impacts it business
Romania’s largest chemical group Chimcomplex is one of the top natural gas consumers in the country.
IMF sees Romania’s economy growing by 4.8% in 2022, analysts are even more bullish
Romania’s GDP is expected to grow by 4.8% in 2022 and 3.4% in 2023, “supported mainly by momentum in domestic demand”, the IMF said.
BRUEGEL: National policies to shield consumers from rising energy prices
The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.
Kazakhstan offers Europe chance to kick its Russian uranium habit
Obstacle to hopes is Russia’s ownership of 40% of world's uranium conversion infrastructure, vital to making nuclear fuel.
ING: Eurozone PMI suggests the region may already be in recession
The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.
Romania’s government to speed up major natural gas projects
Bucharest will try to speed up development of the offshore Neptun Deep and the onshore deep Caragele field that together would cover Romania’s gas consumption for up to ten years.
Construction activity resilient in Romania despite rising costs
Profitability of construction activity deteriorated significantly in the second quarter of 2022.
Romania expects €200mn from 5G licenses in 2022
Bucharest sweetened terms for telcos building 5G networks in Romania, but companies will no longer get preferential electricity prices.
Moldova’s largest bank MAIB seeks listing in Bucharest
Talks on a listing of Moldova Agroindbank on the Bucharest Stock Exchange are in progress as the bank seeks to raise funds for future development.
Romania's MedLife buys up health-tech company SanoPass
Fast-growing private medical services provider MedLife enters the wellness segment with acquisitions of SanoPass and Sweat Concept One gyms.
ING: ECB hikes by a historic 75bp, more hikes in the works
The European Central Bank has decided on the largest rate hike since the start of the monetary union and has given the impression that it is fully determined to do more on September 7.
Fondul Proprietatea selects investment banks for Hidroelectrica IPO
After years of delays, the IPO of Romania's largest electricity producer Hidroelectrica is expected by the end of June 2023.
