Romania’s central bank sees higher inflation but refrains from rate hikes

Iulian Ernst in Bucharest August 9, 2021

National Bank of Romania says it needs more clarity from the government before making rate hikes that should be coordinated with fiscal consolidation — which PM Florin Citu has yet to announce.

Romania’s retail sales rise by 5.8% q/q in Q2

bne IntelliNews August 5, 2021

Romania’s retail sales index increased by 12.0% y/y in June.

Erste Group revises upwards CEE region’s 2021 growth outlook

bne IntelliNews August 2, 2021

CEE lender cites region’s outstanding resilience during the pandemic and the expected positive impact from the EU’s recovery fund.

US, UK and Israel accuse Iran of Gulf attack on tanker that killed Briton, Romanian

bne IntelIiNews August 1, 2021

Analysts widely suspect Iran and Israel are involved in an undeclared shadow war in which they carry out attacks on each other's vessels. This war appears to be escalating

BALKAN BLOG: Southeast Europe heatwave a sign of climate change to come

bne IntelliNews August 1, 2021

Southeast Europe is suffering under a heatwave that has sent temperatures soaring to 40°C or higher.

Heatwave pushes up spot electricity prices in Southeast Europe

bne IntelliNews July 30, 2021

Prices elevated by a combination of demand for electricity for cooling and an outage at one of the reactors of Romania’s nuclear power plant.

European Commission approves acquisition of Telekom Romania by Orange, subject to conditions

bne IntelliNews July 29, 2021

Deutsche Telekom is selling its 54% stake in Romanian fixed line operator Telekom Romania Communications to Orange’s local subsidiary.

Romania’s historic Rosia Montana mining site added to UNESCO world heritage list

bne IntelliNews July 28, 2021

Canadian mining company Gabriel Resources, which has a mining licence for Rosia Montana, sued the Romanian government after it asked for the area to be added to the UNESCO world heritage list.

bneGREEN: EU takes carbon pricing initiative with CBAM

bne IntelliNews July 27, 2021

The EU on 14 July unveiled the details of its proposed Carbon Border Adjustment Mechanism, which aims to protect EU CO2 emitters from carbon leakage by making exporters to the EU market pay for the CO2 they produce.

Shares of Romanian startup Air Claim nearly double in price on BVB after listing

bne IntelliNews July 26, 2021

Air Claim helps passengers get compensation for flights that are canceled or delayed.

Looming new coronavirus wave prompts vaccination push in Southeast Europe

bne IntelliNews July 24, 2021

With the delta variant starting to spread in Southeast Europe, officials are warning of a new wave of the pandemic that may put pressure on hospitals as early as August or September.

bneGREEN: Global investors turn to green energy and away from fossil fuels

Richard Lockhart in Edinburgh July 21, 2021

The world’s largest global debt and equity investors are continuing to invest in renewable energy despite the pandemic, driven by the wealth of investment opportunities, the Institute for Energy Economics and Financial Analysis said.

BRICKS & MORTAR: Residential real estate markets bounce back in Southeast Europe

bne IntelliNews July 21, 2021

Strong recovery after spring 2020 lockdowns partly driven by demand for houses and rural properties, but prices remain among the lowest in Europe.

European Commission slams Bulgaria on rule of law, Slovenia on media freedom

Denitsa Koseva in Sofia, Iulian Ernst in Bucharest, Valentina Dimitrievska in Skopje July 20, 2021

Highly critical European Commission report issued as Sofia tries to sack chief prosecutor Ivan Geshev, who has thwarted efforts by the caretaker government to investigate top-level corruption. Shortcomings reported in other SEE EU members.

Romania’s PM bullish expectations may put fiscal consolidation at risk

Iulian Ernst in Bucharest July 20, 2021

Florin Citu says GDP growth could hit 10% in 2021 as he heads into party leadership campaign.

CEE dealmaking back at pre-COVID levels in H1, says Mergermarket

bne IntelliNews July 19, 2021

The first half was particularly strong in the mid-market and smaller-ticket segment.

Romania’s bourse over 30% above pre-crisis peak

Iulian Ernst in Bucharest July 19, 2021

The Bucharest Stock Exchange's blue chip BET index crossed the 12,000 points threshold for the first time on July 13 and ended the week at 12,026.

Romania’s current deficit up 85% y/y in January-May, FDI surges 3.2 times

Iulian Ernst in Bucharest July 16, 2021

Romania’s current account balance and foreign direct investment figures reveal a sharp increase in the country’s external deficit balanced by stronger FDI.

Recovery piles upward pressure on Romanians’ low wages

Iulian Ernst in Bucharest July 13, 2021

Romanian workers have abandoned construction sites to return to jobs in Spain, while rural workers are leaving for seasonal jobs abroad, at the same time as local and foreign investors plan to set up new manufacturing facilities.

Romania’s foreign trade returns to pre-crisis rising trend

bne IntelliNews July 13, 2021

The return to normal for Romania means the return to wide trade deficits and the so-called “revenge spending” in the post-crisis period only smooths the return to that unsustainable path.