CONFERENCE CALL: Decline of the West and rise of the rest

Ben Aris in Rhodes October 14, 2019

It was 30 years ago that the Berlin Wall came down, ushering in hopes of a united, peaceful and prosperous world. Today the world is unpredictable and moving towards a new division between East and West. How did we get here?

Romania’s City Insurance aims to be largest local player in Central, Southeast Europe

Clare Nuttall in Glasgow October 14, 2019

Romania’s largest insurance firm City Insurance has long-range ambitions to become the largest regional player, but first it sees huge potential in its home market amid the emergence of Romania’s middle class.

Romania’s government overthrown by no-confidence vote

Iulian Ernst in Bucharest October 10, 2019

Romania's largest opposition party the PNL says it's ready to form a new government, but cannot yet count on a majority in the parliament.

M&A deals decline in Central, Southeast and Eastern Europe in 1H19

Clare Nuttall in Glasgow October 9, 2019

Fall in volume and value of deals revealed in CMS/Mergermarket report is in line with decline seen across Europe as economic slowdown, Brexit uncertainty and global trade wars hit sentiment.

Wages in Romania maintain robust growth around 10% y/y in August

bne IntelliNews October 9, 2019

Despite the rapid — and unsustainable — rise in wages, many Romanians including one in three children remain in poverty.

Romania’s retail sales up 6.7% y/y in August

bne IntelliNews October 4, 2019

Strong increase in August heralds a certain strengthening of the sales index in the third quarter of the year after it weakened to 5.4% y/y in Q2.

Prosecutors seize €34.5mn of Air Moldova assets including two aircraft

bne IntelliNews October 4, 2019

Anti-corruption prosecutors say seizure is connected to a money laundering case concerning the privatisation of Air Moldova last year.

Romania’s opposition prepares to overthrow government, but no PM-designate in sight yet

Iulian Ernst in Bucharest October 2, 2019

While the opposition seems to have consolidated sufficient support in parliament to win the no-confidence vote, it does not have the necessary coherence to replace Viorica Dancila's cabinet with a new government.

Romanian stock market's elevation to emerging status opens up a diverse market

Clare Nuttall in Glasgow October 2, 2019

From banks and bevvies to tacos and telcos, a series of IPOs in recent years have ensured the Bucharest Stock Exchange’s main BET index represents a wide range of growing sectors.

European Parliament committee rejects Hungarian, Romania commissioners-designate

bne IntelliNews September 27, 2019

In an unprecedented development, MEPs Rovana Plumb and Laszlo Trocsanyi were rejected by the European Parliament Committee on Legal Affairs over conflicts of interest.

FTSE Russell raises Romania to secondary emerging market status

Iulian Ernst in Bucharest September 27, 2019

Finance Minister Eugen Teodorovici welcomes decision from FTSE Russell that puts Romania among "select club of high profile exchanges" and is expected to result in inflow of investment.

Moldova signs €264mn funding package to connect to Romania’s power grid

Iulian Ernst in Bucharest September 27, 2019

Project is of critical importance for the diversification of Moldova’s electricity supply — but highlights the need for more generation capacity in Romania.

Romanian central bank launches FinTech Innovation Hub project

Iulian Ernst in Bucharest September 24, 2019

Move comes as the Payment Services Directive compels banks to open up their customer data to third party firms, giving non-banking firms the chance to compete with banks in the payments business.

Israeli software company DriveNets to set up development centre in Romania

Iulian Ernst in Bucharest September 24, 2019

Tellence, a local provider of high-tech software and engineering services, will create the centre.

Huawei initiates talks to prevent 5G ban in Romania

Iulian Ernst in Bucharest September 23, 2019

A ban on telecoms companies using Huawei's products in Romania's 5G licenses auction is seen as likely after Romania signed a memorandum on safe 5G networks with the US