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Romania

Polish Currency Suffers from Instability in Ukraine

The Polish Zloty has become weaker because of the political instability in Ukraine.

February 28, 2014

Romania: Ponta Clinging to Leadership

Reforms in Romania will be carried out even if Ponta’s new government’s majority will be reduced in parliament.

February 27, 2014

Romanian Government Falls Apart

After the ongoing dispute about administrative posts Romania is left without a government. Moreover, the opposition calls for Prime Minister Viktor Ponta’s resignation.

February 26, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

Romania: President Fires Financial Supervision Authority

President Basescu fires the entire staff of the Romanian Financial Supervision Authority (ASF).

February 20, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Montenegro Gets Own Embassy in Romania

On Tuesday Montenegro opened its first embassy in Romania.

February 19, 2014

Erste: CEE Financial Market Not Concerned by Low Inflation

Low inflation will not change CEE market forecasts, according to Erste Group.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Erste Group: Net Results Below Expectations

Erste Group provides business update for 2013: Improvement in risk costs is outweighed by one-off items and tax effects, impacting net profit

February 11, 2014

Romania: Chitiou Has Lost Support from PNL

As reported by Vindobona, Romania´s Minister of Finance has decided to leave the government. According to rumors, the resignation was forced by senior PNL members.

February 7, 2014

Romania: Minister of Finance Quits

Minister of Finance Daniel Chitoiu is said to leave the Romanian cabinet.

February 6, 2014

“Fragile Recovery in CEE Banking Sector”

According to the U.S. rating agency Fitch, the banking sector in Central and Eastern Europe is highly heterogeneous.

February 6, 2014

CESEE: Stuck in Transition or Just a Break?

Despite all difficulties in Central, Eastern and Southeastern Europe, the region remains essential for Austria. The long-term growth potential remains intact.

February 6, 2014 · Updated: February 6, 2014; 13:41

Romania Reaches Agreement With IMF

Romania has met the criteria to receive a stand-by agreement by the International Monetary Fund.

February 5, 2014

Romania: Remarkable Development Since 2000

The advisory firm pwc has compiled a study on the economic progress of advanced and emerging economies. Poland and Romania are one of the top performers.

February 5, 2014

Romania: Base Rate at Record Low

Today, the Board of the National Bank of Romania has cut the base rate to 3.50 % from 3.75%. Since July, borrowing costs were cut by 175 bps. Economists think that there will be no further cuts.

February 4, 2014

CESEE: Corruption Is Still a Major Obstacle

The European Commission has published its first Anti-Corruption Report today. Above all, the economies in Southern and Southeastern Europe are suffering from corruption.

February 3, 2014

Bucharest: Fitch Affirms Sovereign Debt Rating

The U.S. rating agency Fitch has kept the long-term issuer default rating at “BBB-“. The outlook remains stable.

February 3, 2014

„We Must Watch CESEE Very Carefully“

In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.

February 3, 2014

VIG to Do Up Romanian Division

Difficulties in Romania and Italy for Vienna Insurance Group (VIG) lead to a massive decline in profits.

January 29, 2014

CESEE: Overtaking Western Europe Not Before 2055

According to the European Bank for Reconstruction and Development, the transition period of Central, Eastern and Southeastern Europe will take longer than initially expected.

January 29, 2014

Romania´s President Opposes the IMF

Traian Basescu is strictly against imposing an additional tax on fuel. Whether Romania will achieve the budget target is highly uncertain.

January 24, 2014

Survey: CEOs in Romania Most Optimistic

A great majority of CEOs at Romanian enterprises are confident in regard to the economic outlook and growth in 2014.

January 24, 2014

Prices for Houses in EU Dropped Slightly

1.5 percent decrease of house prices in European Union.

January 22, 2014

“No Real Wage Loss This Year“

In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.

January 21, 2014

S Immo Looking Forward to 2014

9.98% price performance and new projects in Berlin. Summary of 2013 and outlook for 2014

January 21, 2014

Romanian Real Estate: Trend Shows Downwards

In 2014, apartment prices in Romania are expected to decrease further. However, the downward trend will decelerate slightly, according to experts.

January 20, 2014

Kotian: “Growth in CEE is Accelerating“

In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.

January 20, 2014

CESEE: Massive Increase in Real Estate Investments

In Central, Eastern and Southeastern Europe, the total volume of real estate transactions totaled € 10.bn last year. Most transactions were recorded in Russia and Poland.

January 15, 2014

Citizens from CEE Major Benefit for EU

A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.

January 15, 2014

IMF and EBRD Deeply Concerned Over CESEE

Foreign banks continue to withdraw capital from the region. According to the International Monetary Fund, the development is highly considerable.

January 14, 2014

CESEE: Number of NPL Declining

According to a study by Bank Austria, the number of bad loans is declining in Central and Eastern Europe.

January 14, 2014

Austria: Expert Paper for Hypo Group’s Bad Bank

An expert paper about possible downsizing options for state-controlled problem bank Hypo Group Alpe Adria is expected to be handed in to the government until the middle of the week.

January 13, 2014

Romania: Economic Growth not Sustainable Yet

In the third quarter of 2013, Romania´s GDP growth amounted to 4.1%. Nevertheless, Romania is still far from a sustainable economic recovery.

January 11, 2014

Fitch: Positive Comment on Raiffeisen Bank International

According to the U.S. rating agency, the planned capital increase is evaluated positively. In certain CESEE market, RBI´s operations will remain challenging, Fitch said.

January 11, 2014

Europe/CESEE: Heavy Trade in Distressed Assets

Until 2018, European lenders will offload about 300bn of bad debts, according to PwC. Above all, U.S. private equity firms are taking the opportunity.

January 11, 2014

RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.

January 9, 2014

Growing Evidence for RBI’s Withdrawal from Hungary

According to media reports, Hungarian partly nationalized Szechenyi Commercial Bank has placed an offer for the take-over of RBI’s Hungarian affiliate.

January 7, 2014

Romania: Slight Increase in FX Reserves

In December 2013 FX reserves increased slightly compared to the previous month.

January 7, 2014

Southeastern Europe Endangered of Civil Unrests

According to the Economist Intelligence Unit, several CESEE countries may face civil unrests in 2014. In particular, Southeastern Europe is in the danger zone.

January 4, 2014

Hungary: MKB Bank Sells Romanian Subsidiary

As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.

January 3, 2014

CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.

January 2, 2014

Croatia: Real Estate Market Crisis Goes On

After the collapse of the Croat real estate market in 2009/10, the price decrease still holds on.

December 30, 2013

Romania: Growth to Slow Down

In 2014, Romania´s GDP growth will only reach 2.0%, Turkish GarantiBank forecasts.

December 28, 2013

New CEO at BCR Asigurari de Viata

Sorin Mititelu was appointed as new CEO of Romanian BCR Asigurari de Viata.

December 21, 2013

Austria: VBAG May Require Further State Aid

Partially nationalized VBAG is expected to post losses of more than € 200m.

December 20, 2013

Buwog's Spin Off More Likely than IPO

Immofinanz plans on increasing the portfolio of its affiliate Buwog, which focuses on residential real estate, by acquiring a volume of 18,000 apartments in Northern Germany.

December 19, 2013

CESEE: Potential to Return to Pre-Crisis Growth

According to a report published by the business adviser McKinsey, countries of Central, Eastern and Southeastern Europe are fundamentally strong.

December 18, 2013

Labor Costs: No Clear Trend in CESEE

In the Baltic countries and in Romania, unit labor costs rose most. In Slovenia and in the Czech Republic, by contrast, unit labor costs were down.

December 18, 2013
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