The restructuring plan has not been negotiated with the bank’s three labor unions yet, BCR CEO Tomas Spurny stated. BCR Group will lay off 1,600 employees (17.5 per cent of its total employees) in the following 12-18 months in order to adapt to the new economic realities, but will continue to grow by stimulating bank [...]
Romania registers one of the widest gaps in the EU between high and low incomes among the population: the average income of the richest 10% of Romanians (tenth decile) is 4.88 times higher than that of the poorest 10% (first decile), according to Eurostat data from 2022 compiled by Friedrich Ebert Foundation. The gap slightly […]
As the scandals surrounding Bucharest mayoral candidate Catalin Cirstoiu (head of University Central Hospital) are turning into a broader public debate about the rampant corruption in the public healthcare system and the way funds are...
Romanians bought state debt, denominated in local currency and euros, amounting to a total of nearly RON 3.2 billion (EUR 640 million) under the latest issue (Fidelis) organized by the Treasury. This was some RON 100 million more than the largest such issue in April 2023. Romanians bought EUR 384 million worth of bonds denominated […]
In the context of the visit paid by a Romanian delegation headed by prime minister Marcel Ciolacu in Qatar and UAE, Hidroelectrica (BVB: H2O) and Masdar of Emirates agreed to expand the scope of the joint venture (JVC) to be established so that it includes the development of on-shore and floating solar projects, as well […]
EMMA Capital, the Czech investment fund controlled by billionaire Jiří Šmejc, received the permit from the national regulatory body to take over the Romanian natural gas producer Stratum Energy through its subsidiary EMMA Lambda. The unit would add to EMMA's operations in Romania, which are conducted through Premier Energy in the sectors of natural gas […]
The volume of construction works in Romania contracted by 10.8% y/y in the first two months of the year, according to data published by the statistics office INS. The annual decline sweetened from -17.9% y/y in January to -5.5% y/y in February. It is possible but not very likely that the sluggish implementation of the […]
