Romania

Romanian banks post 9% y/y smaller profit in Q1

bne IntelIiNews June 2, 2020

The coronavirus pandemic drove down the local banks' profits as several lenders set aside provisions to mitigate the higher risks generated by the COVID-19 crisis.

COMMENT: Some key macroeconomic indicators for Romania during the pandemic times

Alexandru M. Tanase June 1, 2020

Even before the crisis, the Romanian macroeconomic equilibria were very fragile. Now Romania needs a set of measures to relaunch the economy and put it on a better footing for the future.

LONG READ: The Growers - a handful of countries in New Europe are coping with the coronacrisis and are still expanding

bne IntelliNews May 29, 2020

Gold-exporting Uzbekistan has the emerging Europe region's best shot at achieving positive GDP growth this year. Other economies managed to expand in Q1 but will be pushed into full-year contractions.

New coronavirus cases decline across emerging Europe but the epidemic’s not over yet

bne IntelliNews May 29, 2020

Steady growth in new cases in several countries despite easing of lockdowns, numbers pushed up by outbreaks at industrial plants.

Romania to break nuke plant expansion agreement with Chinese partner

Iulian Ernst in Bucharest May 27, 2020

State-controlled nuclear energy producer Nuclearelectrica will begin talks to terminate the agreement signed with China's CGN on the construction of two new reactors at the Cernavoda.

Romanian firm develops first flat screen recycling line in region

bne IntelliNews May 25, 2020

Green WEEE says new recycling line is part of the company's strategy to diversify and increase production capacity.

Moldovan PM alienates closest EU ally with Facebook corruption claim

Iulian Ernst in Bucharest May 25, 2020

Ion Chicu writes on social media platform that Romania is Europe's most corrupt country and slams Bucharest’s handling of COVID-19 pandemic at a moment when Chisinau already risks losing EU funding.

Movie night at the airport

bne IntelliNews May 24, 2020

Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.

Russa’s coronavirus cases close to 300,000 but PM says growth in new cases has halted

bne IntelliNews May 19, 2020

Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.

CONFERENCE CALL: 5G to turbocharge post-COVID recovery

Ivana Jovanovic in Stuttgart May 18, 2020

The coronavirus pandemic has been a fertile breeding ground for 5G conspiracy theories, and legitimate concerns about security still need to be addressed, but rolling out 5G mobile networks in Europe could give economies a much-needed boost.

Most Central, Southeast Europe economies contract in Q1 but outperform eurozone average

bne IntelliNews May 18, 2020

Performance ranges from a contraction of 5.4% q/q in Slovakia to growth of 0.3% q/q in Bulgaria and Romania.

Construction to support recovery in Romania after robust Q1 growth

bne IntelliNews May 18, 2020

The construction works volume index increased by 32.6% y/y in Q1 and by nearly 30% y/y in March alone.

Romania’s FDI turns negative in Q1

bne IntelliNews May 15, 2020

Multinationals halted their equity investments and asked their local subsidiaries to pay back their loans, central bank data showed.

North Macedonia ranks 2nd in Europe for quality of mobile services finds Germany’s Connect

bne IntelliNews May 14, 2020

Macedonians are extremely satisfied with the standard of telecoms services from the local operators and at the same time enjoy some of the highest quality services in Europe.

Political battle puts smooth relaxation of lockdown at risk in Romania

Iulian Ernst in Bucharest May 13, 2020

Romania prepares to ease lockdown to “state of alert” but opposition parties block law setting new regulations on containment and social distancing.

ING: Central and Eastern Europe’s fiscal and monetary response to COVID-19

Rafal Benecki et al of ING THINK May 12, 2020

What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.

Retail sales under lockdown across Central and Eastern Europe are sinking

bne IntelliNews May 12, 2020

A worldwide lockdown has created havoc for retailers as their customers are forced to stay at home. There has been a little respite as sales in March surged due to panic buying but that has given way to a lockdown that keeps stores closed

Southeast Europe looks to near abroad tourists to save 2020 summer season

bne IntelliNews May 11, 2020

Holidaymakers from nearby countries that have managed to get their coronavirus outbreaks under control could provide a lifeline to Adriatic and Black Sea tourist destinations.

ECHR rules in favour of Romania's sacked anti-corruption chief

Iulian Ernst in Bucharest May 6, 2020

With Laura Codruta Kovesi at the helm, the National Anticorruption Directorate investigated numerous serving and former ministers and other high-level officials — but this brought her into conflict with Romania's top politicians.

Uber Eats exits all but core CEE markets

bne IntellNews May 5, 2020

The express food delivery service will only stay in markets where it is already number one or two in terms of market share, or can see a clear path to achieving this status.

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