With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.
Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.
Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.
A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.
Italian utility group Enel plans to sell its subsidiaries in several countries including Romania next year.
Austria and Sweden are expected to veto enlargement of the Schengen are to Romania and Bulgaria at the EU Council meeting in December.
Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.
As hopes of a positive decision on December 8 fade, the three Southeast European countries are making a final push to persuade Schengen members to admit them.
Ukraine, Romania, Croatia, and Slovakia protested against the gesture, which comes at a time Hungary faces growing isolation in Europe.
“Friendly separation” planned just two years after Enel announced €2bn investments in green energy projects in Romania.
The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.
Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.
Acquiring Fortech, one of Romania’s largest independent digital engineering firms, is part of GlobalLogic’s strategy to establish a wider European footprint.
AmonRa wants to raise funds to finance its expansion in Romania and in other Southeast European countries.
COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.
Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.
The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.
The aggregated net profit of Romanian banks surged to €581mn in Q3.
Fund managers surveyed by Bain & Company point to region’s strong macroeconomic fundamentals and catch-up potential.
Greying of populations big dilemma for developed countries. Share of people on planet aged 65 years or above projected to rise from 10% now to 16% in 2050.