The exit of the PSD from the government risks seriously complicating Romania’s economic and political situation, but it is not a total surprise, says the President of the Fiscal Council,…
Business
News and economic analysis on the economic crisis, unemployment, inflation, investments, profits, businesses. You also read about highways, roads, prices, increases, pensions, and budget deficits.
Iran war adds $100 to long-haul flight costs from Europe
The war in Iran and tensions in the global oil market are starting to be felt directly in passengers’ pockets. The cost of long-distance flights from Europe is increasing by…
IEA chief warns of “biggest crisis in history,” says recovery could take two years
The USA-Israel war against Iran is generating the most severe energy crisis in world history, stated the head of the International Energy Agency, an institution that advises 32 countries on…
Isărescu: Financial stability is like health - you only realize its value when you lose it. Criticism of bankers’ “jargon”
BNR Governor, Mugur Isărescu, warns that financial stability is essential, even if the public seems to have „grown tired” of this repeated message. Isărescu emphasized, at the opening of the…
Bloomberg: Political tensions threaten Romania’s financing and credit rating
Romania faces a negative reaction from investors and rating agencies due to the new political tensions in Bucharest. An analysis by Bloomberg shows that political instability comes at a critical…
Romania secures €2 billion in US funding for energy and infrastructure. Nazare’s message to investors
Minister of Finance, Alexandru Nazare, announces that the official visit to the United States, which lasted nearly a week, concludes with „concrete results,” including financing of approximately 2 billion euros…
Petrotrans SA: A “ghost” company draining state funds despite being inactive since 2005
Vice Prime Minister Oana Gheorghiu argues that the Romanian state continues to pay for a destroyed infrastructure and a company that, in reality, has not existed for almost 20 years.…
IMF warns EU not to offset the energy price spike too much
European governments should not overly protect companies and consumers from higher energy prices, as this distorts the price signal that should lead to reduced consumption and could become very costly…
European Commission launches state aid investigation into Cernavodă Unit 1 modernization project
The European Commission has opened an in-depth investigation to analyze whether the financial support that Romania is preparing for the refurbishment and extension of the lifespan of reactor 1 at…
Why Romania can’t adopt the euro yet: BNR explains the gap with Bulgaria
Romania cannot adopt the euro without budget discipline and low inflation, and the current issues are more related to internal economic policy errors rather than the fact that we are…
The new carbon tax caps Kiev's steel exports. Ukrainians have a proposal
Steel represents one of Ukraine’s main sources of export revenue, but it is affected by the carbon tariffs imposed by Europe. Ukrainian steel producers say that the new carbon tax…
War in Iran pushes the world toward recession: IMF and major funds issue stark warnings
The escalation of the war in Iran risks plunging the global economy into a recession, warns the International Monetary Fund. Moreover, major players in financial markets say that a critical…
Major airlines warn of fuel crisis, call for EU action; Brussels says no kerosene shortage
Major European airlines urge the European Union to urgently intervene to manage the effects of the war in Iran, warning of the risk of a jet fuel crisis for planes.…
Russia’s Oil Revenues Jump Sharply Amid Iran War Disruptions
The war in Iran has led to a significant increase in Russia’s revenues from oil exports, amid the global rise in oil prices and the redirection of demand to other…
Bank of America becomes the top dealer for Romania’s external debt, US banks dominate rankings
Romania has become, in recent years, an increasingly important client for major international investment banks, against the backdrop of high deficits and rising public debt. In this context, American financial…
Umbrărescu takes over ArcelorMittal Hunedoara in €12.5m deal
The Competition Council has authorized the transaction through which UMB Steel, a company controlled by businessman Dorinel Umbrărescu, acquires the assets of the ArcelorMittal Hunedoara plant. The institution concluded that…
Bolojan: 90% of energy projects are speculative, government to change the rules
Prime Minister Ilie Bolojan, alongside Energy Minister Bogdan Ivan, presented on Wednesday the main directions of reform in the energy sector during a press conference focused on investments and price…
Oil prices plunge and stocks jump after Trump announces conditional ceasefire with Iran
Global oil prices have dropped sharply, and stock markets have risen after the US and Iran agreed to a two-week ceasefire, which includes the reopening of the Strait of Hormuz.…
First diesel price cut after excise duty reduction - but recent hikes have already wiped out the gains
Diesel fuel has decreased in gas stations by up to 36 bani per liter, following the entry into force of the emergency ordinance by which the Government reduces the excise…
Fuel prices won’t drop significantly, says Ionuț Dumitru: ‘It’s an illusion we can return to pre-pandemic levels’
Fuel prices will not return to previous levels, even if the state intervenes, warns the honorary advisor to the prime minister, Ionuț Dumitru. According to him, the measures taken by…