Fusion another step closer?

by Roberta Harrington in Los Angeles February 21, 2024

Fusion, the holy grail of the energy transition, is closer than ever before. But it’s still unclear whether it can be commercialised in time to ward off the climate crisis.

Romania starts €200mn dredging operation at port used for Ukraine exports

Iulian Ernst in Bucharest February 21, 2024

Expanding capacity of Romania’s Constanta Port will help Ukrainian grain exporters bypass Poland, where farmers’ protests have erupted.

CEE losing competitiveness because of soaring wages and weak productivity growth

bne IntelliNews February 19, 2024

Unit labour costs have surged by 25% since 2020 – something not seen since the early 2000s, says Capital Economics

Clear east-west divide in EU for gender balance in science and engineering

bne IntelliNews February 15, 2024

Female employment in science and engineering is well above 50% in multiple regions of Central and Southeast Europe, Eurostat figures show.

Romania’s industrial output shrinks by 4.9% in 2023

bne IntelliNews February 15, 2024

Industrial activity has deteriorated in Romania, with the overall industrial output index (chart) contracting by 4.9% y/y in 2023 according to data published by the statistics office INS. Romanian industry has been losing ground since before COVID.

World must invest $8 trillion in renewables by 2030 to meet COP28 goal

by Roberta Harrington in Los Angeles February 14, 2024

Investment of as much as $8 trillion in renewable energy and half of that in grids and storage is required to meet the goal of tripling renewable energy capacity by 2030, as agreed at COP28 in Dubai in December.

Bulgaria and Romania to revive €6bn Danube hydropower project

bne IntelliNews February 14, 2024

Neighbouring countries are updating old plans to build a major new hydropower plant on the Danube between Nikopol and Turnu Magurele.

Balkan governments mull military service amid regional and global tensions

bne IntelliNews February 14, 2024

Politicians in Croatia, Romania and Serbia have all discussed a potential move to a form of military service.

Romanian central bank keeps policy rate at 7%

bne IntelliNews February 14, 2024

BNR expects steady disinflation after headline inflation dropped from a peak of 16.8% y/y in November 2022 to 6.6% y/y in December 2023.

Warning of new ice age in Europe as currents in the Atlantic approach a catastrophic tipping point

Ben Aris in Berlin February 14, 2024

The currents that circulate in the Atlantic are approaching a “tipping point” that will change the way water flows around the oceans of the world, which will have a catastrophic climate impact on countries around the world.

Romanian government blocks sale of Fondul Proprietatea’s stakes in Bucharest Airports, Constanta port and Salrom

Iulian Ernst in Bucharest February 14, 2024

Fondul Proprietatea fund manager Franklin Templeton aimed to sell stakes in three major portfolio companies.

EU may sanction Chinese companies for the first time for facilitating Russia’s flourishing trade with friendly countries

bne IntelliNews February 13, 2024

The EU is contemplating the unprecedented step of imposing sanctions on three Chinese companies alleged to be aiding Russia's military actions against Ukraine, Bloomberg reports.

Romania’s trade gap narrows by 15% y/y to 9.1% of GDP in 2023

bne IntelliNews February 12, 2024

Romania’s trade deficit (chart) narrowed by 15% year on year to €28.9bn in 2023 and the gap-to-GDP ratio narrowed from 11.9% in 2022 (the widest value in the past decade) to 9.1% in 2023 (preliminary bne IntelliNews estimate).

Hydrogen production and demand to grow in 2024, but only slowly

bne IntelliNews February 12, 2024

Hydrogen production and use are expected to grow in 2024, but it remains very expensive to produce and transport, making progress slow.

Oil and gas companies to invest over $1 trillion in the next decade expanding production

bne IntelliNews February 12, 2024

A report from climate campaign group Global Witness reveals that the fossil fuel sector is anticipated to allocate more than $1 trillion worldwide over the next decade for the expansion of natural gas production.

Earth has already passed 1.5 degrees warming, says study

by Roberta Harrington in Los Angeles February 7, 2024

The Earth may have passed 1.5 degrees Celsius of warming and in fact could soon reach 2 degrees, say international researchers who studied 300-year-old sea sponges in the Caribbean.

One United sees strong growth potential in 'hidden gem' Romania’s property market

Clare Nuttall in Glasgow February 7, 2024

CEO Victor Capitanu tells bne IntelliNews pent-up demand in residential and office sectors will fuel growth in coming decades.

Romania to pass deepfake law after central bank chief shown hawking investment scheme

Iulian Ernst in Bucharest February 6, 2024

Internet flooded with fake videos showing prominent Romanians apparently promoting get-rich-quick schemes.

Rheinmetall takes over Romanian military vehicles plant to increase footprint on Nato's eastern flank

Iulian Ernst in Bucharest February 2, 2024

Dusseldorf-based military equipment company has strengthened its presence in Central and Eastern Europe since the start of the Ukraine war.

Romanian government fears losing at least $2bn in Rosia Montana gold project litigation

Iulian Ernst in Bucharest February 1, 2024

Canada’s Gabriel Resources has been seeking between $2bn and $6.5bn in compensation after the Rosia Montana gold mining project was blocked by the Romanian authorities.