Romania
Primark to launch in Romania as it pursues CEE expansion
As pandemic's impact on retail sector recedes, Primark continues CEE expansion with plans to open new stores in Poland and Slovakia as well as Romania.
Nato rejects Russian request to withdraw from Bulgaria and Romania
Both Nato and the governments in Bucharest and Sofia have firmly rejected Russia’s request that Nato forces withdraw from countries that joined after 1997.
OUTLOOK: 2022 Romania
Coalition of rivals installed in Bucharest faces challenges of rising inflation and decline in industrial production.
Chemical group Chimcomplex plans Romania's largest international corporate bond issue
€350mn bond issue and €225mn capital increase to finance relaunch of chemical production lines.
Romania’s consumer prices resume growth in December
Annual inflation reached 8.2% y/y in December and energy prices contributed more than half.
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bneGREEN: Institutional Investors Group on Climate Change urges EU to keep gas out of green taxonomy
A group of sustainable investors has urged the EU to exclude gas from the new the EU Taxonomy green investment classification system.
Net wage in Romania moves up in November to catch up with inflation
The average net wage in Romania rose by 2.8% m/m in November to €736.5 in one of the highest monthly increases over the past couple of years.
Lithuania pays Guantanamo ‘forever prisoner’ $113,000 over CIA torture
Abu Zubaydah is reportedly still in Guantanamo Bay, where he has been held without being charged for the past two decades.
PPF still has the deal-making mojo after death of founder Petr Kellner
New CEO Ladislav Bartonicek is reported to be selling Home Credit Russia as part of the investment group's shift to more mature markets.
Dovish Romanian central bank raises interest rate by modest 25bp to 2.0%
The 25bp rate hike was smaller than analysts anticipated, and left Romania with the lowest refinancing rate among its peers.
Retail sales stagnate in Romania as higher prices erode households’ incomes
Romania’s retail sales increased by 5.0% y/y in November, but detailed, seasonally-adjusted data and filtering out base effects reveals sales have stagnated since May 2021.
Romania’s central bank expected to hike refinancing rate on January 10
The rate hike in Poland earlier this week encouraged expectations for a similar move in Bucharest, where the BNR has been more cautious until now.
Publicis Groupe takes over Romanian software company Tremend
Founded by two Romanian entrepreneurs, Tremend is one of the fastest-growing and largest independent software engineering companies in Central and Eastern Europe.
bneGREEN: Brussels labels both gas and nuclear as green
Commission says there is a role for natural gas and nuclear as a means to facilitate the transition towards a predominantly renewable-based future.
Industrial price inflation hits 32% y/y in Romania after energy prices double
Energy prices nearly doubled and this inflationary shock is spreading across the economy, eventually having an impact on consumer prices.
New COVID-19 wave looms in under-vaccinated Southeast Europe
Soon after Southeast Europe emerged from the autumn wave of the pandemic, cases are already rising again as the Omicron variant spreads in the region.
Romania’s forex reserves up on Resilience Facility money
The increase in December was due to robust forex inflows of over €5bn, which included the €1.85bn first tranche granted by the European Commission under the Resilience Facility.
CEE banking: As good as it gets in (post-) crisis times and the challenging geopolitical environment
Western European banks have made double-digit increases in the growth of their credit exposures to the CE/SEE region in the past 12-18 months.
bneGREEN: Gas and nuclear still in the running to be included in EU green taxonomy
The EU is set to make a final decision on December 22 on whether to include nuclear power and natural gas in its green taxonomy.
Romanian chemicals group Chimcomplex mulls taking over Rompetrol
Chemical holding outlines development plans including ambitions to take over Romania's biggest refinery Petromidia, owned by Rompetrol.
