The Bucharest Stock Exchange (BVB) opened Monday morning’s session “in the red”, with all stock market indices declining after the results of the first round of the presidential elections put pro-Russian Calin Georgescu in first place. The BET index has been de-correlated since the summer (July 24, 2024) with the evolution of the US stock indices, with which it has recorded a relatively close evolution in recent years. This indicates a decreasing buying pressure from foreign investors and even a possible more sustained presence in the sale. An example is the trading session of November 19: both BET and the US indices started to sell aggressively around 16:00, Romanian time. The US market recovered, however, during the US stock market session, while the Bucharest stock exchange closed at 18:00 local time with a minus of 1.6%. Although it outlined a slight recovery the next day, this failed to be sustained. BET is now down more than 10% from its significant high on July 24, which coincides with the high on July 24, 2007, and marks a 17-year cycle. In comparison, U.S. stock indexes have continued to rise since the summer and are up more than 25% year-to-date. All this dynamics indicate a possible de-risking process for the local market (emerging markets in general) of external managers, in the context of several risks looming on the horizon for Romania and the stock markets in general, from 2025 onwards. However, a 10% correction for BET is healthy after the massive almost vertical rally started in November 2022.
The first self-service mobile phone repair shop in Romania opened in the city of Iasi, aimed at promoting sustainability and the right of users to maintain their own devices in safe and efficient conditions. The initiative aims to promote the right to repair, following European Directive 2024/1799, to support the tech community and DIY repair […]
Ukrainian refugees living in Cluj County, central Romania, have restored a playground in the suburb of Florești as a sign of gratitude for the support offered by Romanians after the start of the war in Ukraine. According to representatives of the Association of Ukrainian Youth in Romania (or ATUR), this project was entirely funded and […]
The Brașov Jazz & Blues Festival returns for its 13th edition from August 14 to 17, transforming the city into a multi-stage celebration of jazz, blues, gospel, and live improvisation. This year's edition will take place in seven locations across Brașov and nearby areas, featuring live music, film screenings, jam sessions, and family-friendly activities. The […]
Affinity Life Care, the largest private network of residential centers for the elderly in Romania, announced the attraction of a growth equity investment from BlackPeak Capital, a private equity fund active in Southeastern Europe. At the moment, Affinity operates three centers in the most important areas of the Romanian capital, with a capacity of over […]
Tensions have emerged within Romania's ruling coalition following disagreements over the state funerals of former president Ion Iliescu. The Social Democratic Party (PSD) announced on Wednesday, August 6, that it would suspend participation in coalition meetings, citing what it described as "public incitement to hatred" from the Save Romania Union (USR). The dispute centers on […]
When you’re craving something out of the ordinary, Boromir’s collection of Slowly Leavened Croissants with Natural Sourdough is here to transform your snacking experience. We’ve turned your search for a unique, memorable flavor into a delightful range of croissants where every bite is a surprise. With their irresistible combination of textures and flavors, Boromir Croissants […]
