Romania
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Planet-heating emissions reach new record in 2023, says WMO report
Greenhouse gas levels surged to a new record in 2023, committing the planet to rising temperatures for many years to come, according to a report from the UN’s World Meteorological Organisation (WMO).
PPC to take over Europe’s biggest onshore wind farm in Romania
PPC, Greece's leading electricity producer and supplier, has been expanding in Southeast Europe, including Romania.
UN says Earth on track to heat to a dangerous 3.1°C
Global heating may rise to 3.1°C by the end of the century if policy action stays the same, says a new annual UN Emissions Gap report. That is an eye-popping 5.6°F.
Romania’s public debt hiked by €3.3bn in July to reach 52% of GDP
Annual rise in public debt is expected reach a new record in 2024 of over €28bn, surpassing the €25.9bn net borrowing in the Covid year 2020.
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Global CO2 emissions from forest fires have increased by 60% in 23 years
Global carbon dioxide emissions from forest fires have surged by 60% since 2001, with emissions nearly tripling in some of the most climate-sensitive boreal forests, according to a new study published in the journal Science.
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Global electricity demand is surging faster than expected, warns IEA
The International Energy Agency (IEA) suggests that global electricity demand is surging faster than expected and that keeping climate change in check may thus become harder.
Central and Southeastern Europe defies German economic weakness
The wiiw autumn forecast warns that not all of the recession in the German automotive industry has so far been felt in Central Europe and further difficulties should be expected.
Romania’s Hidroelectrica unveils four-year, €280mn investment plans
Romanian hydropower group aims to spend €281mn on upgrades, modernisations and acquisitions.
Romania’s industrial figures confirm subdued economic activity in August
Industrial production index plunged by 4.2% y/y, marking one of the most significant annual declines in the past year and a half.
Romania’s inflation eases to 4.6% y/y in September, but upside risks mount
Expectations of further disinflation are being put at risk by a sharp rise in real earnings, fiscal slippage and potential rises in energy prices.
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Romania’s Liberal Party leaves ruling coalition but not the government
It is not clear how much of a difference the PNL's gesture will mean in practice, either before the general elections or in the coalition negotiations afterwards.
Romania’s retail sales return to record level in August after 8.1% y/y advance
Annual growth rate remained above 8% y/y for the third consecutive month.
M&A activity in Romania up 22% y/y in January-September, according to EY report
Big energy deals dominate in year so far.
Far-right politician Sosoaca rejected as presidential candidate in Romania
Decision looks set to boost the position of the more moderate far-right candidate George Simion.
Romania keeps monetary policy rate at 6.5%
High uncertainties and risks stem from Romania's fiscal and income policy stance, as well as external factors.
Europe needs Draghi’s reforms to boost growth, says IIF
Europe has a significant lag in productivity growth compared to the United States and China. Despite similar levels of spending, Europe is falling behind.
Southeast European countries to press for fairer electricity market at EU Energy Council
Bulgaria, Greece and Romania have warned that eastern EU members are paying much more for electricity than their western counterparts.
Hungary’s MVM set to acquire E.ON’s energy supply operations in Romania
E.ON had previously engaged in negotiations with Romgaz and OMV Petrom, but MVM later emerged as the likely buyer.
Romanian airline Tarom sells aircraft, closes offices in restructuring effort
After years of heavy losses, Romanian flag carrier Tarom is restructuring in an attempt to return to profitability.
World’s longest-serving central bank chief confirmed for another term in Romania
Mugur Isarescu reappointed at the BNR after over 30 years in office, but says it’s time to hand over to a new generation.