Romania

$225mn funding values Romanian RPA unicorn UiPath at over $10bn

Iulian Ernst in Bucharest July 14, 2020

The funding was accelerated by the COVID-19 crisis, during which demand for software and automation robots exploded, said co-founder Daniel Dines.

Romania’s trade gap narrows in May despite weak exports

bne IntelliNews July 13, 2020

The foreign trade gap in Romania contracted by 15.6% y/y to €1.25bn in May, but the latest foreign trade numbers don’t bring much optimism.

COMMENT: The new Romanian leu 15 years on

Alexandru M. Tanase in London July 10, 2020

The re-denomination of the Romanian leu in 2005 had lasting economic and emotional consequences for the population and for domestic and international markets.

ING Bank launches fashion marketplace in Romania

bne IntelliNews July 9, 2020

ING takes on Romanian online retailers Fashion Days and answear.ro, but plans international expansion for its DealWise platform.

Romania’s retail sales still 5.4% down y/y in May

bne IntelliNews July 7, 2020

Sales lag below 2019 level despite bouncing back in May from their plunge in April.

Microsoft sets up new development centre in Romania

bne IntelliNews July 7, 2020

The Movial office in Iasi will become the fourth technology development centre in the region for Microsoft.

Romania’s Blue Air goes from flying high to seeking debt restructuring

Iulian Ernst in Bucharest July 7, 2020

Romania's biggest airline by the number of passengers transported has initiated a preventive agreement as it aims to avoid insolvency by restructuring its overdue debt worth over €100mn.

BUCHAREST BLOG: Romania becomes the latest battleground in Central Europe’s gender wars

Clare Nuttall in Glasgow July 2, 2020

A law approved by both houses of the Romanian parliament in June bans the teaching of gender studies in schools and universities. Opponents warn Romania is following in the footsteps of Central Europe's "illiberal democracies".

Clearstream adds Romanian equities to its network

Iulian Ernst in Bucharest June 30, 2020

Foreign investors have been pushing for the move that will give them easier access to the Romanian capital market.

Economic sentiment in CEE picks up in June, but still deeply depressed

bne IntelliNews June 29, 2020

The economic sentiment indicators started to pick up again in June across Central and Eastern Europe (CEE), but there are big differences between the countries as they start to recover from the coronacrisis at their own speeds

Romanian online retailer eMAG begins expansion in Hungary

bne IntelliNews June 25, 2020

Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.

Restrictions come down again in emerging Europe as coronavirus cases surge

bne IntelliNews June 23, 2020

Several countries in emerging Europe have re-imposed lockdowns and border restrictions to prevent the spread of the novel coronavirus after reporting spikes in new infections.

Illicit cigarette consumption declines in eastern EU states

Clare Nuttall in Glasgow June 20, 2020

KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.

Romanian unicorn UiPath expects $10bn valuation in new financing round

bne IntelliNews June 19, 2020

Enterprise robotic process automation software company is reportedly preparing a new round of financing that would increase its market value to over $10bn.

COMMENT: Global remittances to suffer a blow from COVID-19

Gerelyn Terzo of Sharemoney in New York June 18, 2020

Instead of triggering an increase in remittance payments, which is typical during times of crisis, the uncertainty surrounding the COVID-19 pandemic has caused migrant payments to households in developing countries to slow dramatically.

Emerging Europe banks face surge in distressed loans when COVID support measures expire

bne IntelliNews June 18, 2020

Vienna Initiative report warns banks heading for a "cliff-edge effect of new distressed borrowers", followed by successive waves of new NPLs.

Romania moves to terminate talks with Chinese partner in nuke project

Iulian Ernst in Bucharest June 15, 2020

Bucharest asked Nuclearelectrica to terminate talks with CGN on expanding Cernavoda nuclear power plant, as discussions yielded no results in seven years.

CEE banks heading for one of their worst crises in 10 years

Clare Nuttall in Glasgow June 15, 2020

Post-COVID-19, banks in Central and Southeast Europe expect demand for financing to contract sharply, credit standards to tighten and an increase in NPLs, a new EIB survey shows.

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