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…
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.
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…
PNRR in trouble: major cultural projects stalled or at risk, from Huniade Castle to the Historical Gallery of Transylvania
Huniade Castle in Timișoara and the Historical Gallery of Transylvania in Cluj-Napoca are among the major cultural projects financed through the PNRR that are either stalled or at risk of…
European commissioner warns of prolonged crisis, considers diesel and jet fuel rationing
The European Union is preparing for a prolonged energy shock amid the conflict in the Middle East. Brussels is considering „all options,” including rationalizing fuels and using strategic reserves, according…
Diesel prices cut by 50 bani temporarily, with costs shared between the state and oil companies
The government and oil companies have reached an agreement for a 50 bani reduction per liter of fuel, in an attempt to stop the wave of price increases in recent…
Strait of Hormuz crisis: Europeans urged to work from home, drive slower, and cut energy use
The European Commission is urging citizens to reduce fuel consumption amid an energy crisis that could last for years. Recommended measures include working from home, reducing travel, and limiting flights.…
Romania to sign EU-Mercosur agreement as Government overrides Agriculture Ministry’s objections
The government approved on Tuesday the memorandum through which Romania will sign the EU-Mercosur Partnership Agreement, despite a negative opinion from the Ministry of Agriculture. The decision allows the signing…
Government allocates 258 million lei from Guarantee Fund to cover overdue wages at strategic companies; over 4,500 workers to be paid
The government decided on Tuesday, in an extraordinary meeting, that the outstanding salaries of employees from several major industrial companies should be paid by Easter from the Guarantee Fund, with…
Government extends cap on margins for basic food products. List of targeted items
The government has decided to extend the capping of the commercial margin for basic food products until June 30, 2026. The decision comes in the context of price pressures and…
Building material prices jump up to 35% in just three weeks. Erbașu: We face serious workforce shortages
Rapid price increases and the acute lack of qualified workers are putting increasing pressure on the construction sector, at a time when Romania needs massive investments in infrastructure. Cristian Erbașu,…
Fuel won’t be rationed: Government prepares alternative price measures
The Minister of Energy, Bogdan Ivan, stated that Romania is not currently considering fuel consumption rationalization measures, in the context of the European call for reducing the use of oil…
European Commission pushes for lower energy use, fewer trips to avoid shortages
The European Commission is urging member states to reduce their consumption of oil and gas, especially in transportation, to prepare for a possible „prolonged disruption” in energy supply caused by…