In January - August 2021p, the balance-of-payments current account posted a deficit of EUR 10,149 million, compared with EUR 6,549 million in the same year-ago period, the National Bank of Romania informs. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 2,389 million and EUR 587 million, respectively; the surplus on secondary income and that on services decreased by EUR 315 million and EUR 309 million, respectively. Non-residents' direct investment in Romaniae totalled EUR 4,394 million (compared with EUR 1,481 million in January - August 2020), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 3,803 million and EUR 591 million, respectively. In January - August 2021, total external debt increased by EUR 8,404 million, of which: long-term external debt at end-August 2021 totalled EUR 99,049 million (73.3 percent of total external debt), up 5.9 percent against end-2020; short-term external debt at end-August 2021 amounted to EUR 36,162 million (26.7 percent of total external debt), up 8.7 percent from end-2020. Long-term external debt service ratio ran at 16.4 percent in January - August 2021 against 20.7 percent in 2020. At end-August 2021, goods and services import cover stood at 5.3 months, as compared to 5.6 months at end-2020. At end-August 2021, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 89.4 percent, against 90.3 percent at end-2020.
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
Romanian airline AnimaWings is considering incorporating Buy Now, Pay Later options in its travel offers, similar to the ones already popular in the retail sector, Profit.ro reported. The new ticket financing strategy would be a first in the local aviation market. “It is not yet practiced...
Renowned Romanian author Mircea Cărtărescu will tour the United Kingdom from November 18 to 20 to mark the publication of the English edition of his novel Blinding: The Left Wing, released by Penguin Books. The volume, translated by Sean Cotter, is the first part of Cărtărescu’s acclaimed Blinding trilogy. The tour, organized by Penguin Books […]
Ahold Delhaize, the owner of the local supermarket chains Mega Image and Profi, has appointed Xavier Piesvaux as country manager for Romania beginning January 1, 2025. Piesvaux, who was brand president of Mega Image from 2006 to 2015, will return to the country, where he will oversee the expansion of the company’s local brands Mega […]
Timișoara, Bucharest, and Cluj-Napoca occupy the top three positions in the “Perfect City 2026” ranking conducted by the Bucureștiul Meu website. The study, which analyzed the quality of life in 17 Romanian municipalities, took into account seven criteria: infrastructure, the medical system, air quality, access to nature, cultural activities, relative salary, and the financial index. […]
