Romanian managers expect a sharp rise in retail trade prices in the next three months, as well as a plunge in the construction sector's economic activity, shows data released on Wednesday by the National Institute of Statistics (INS).According to the December 2022 business survey, managers in the manufacturing industry expect a relative stability of the production volume in the next three months (short-term balance -4 percent), while the number of employees is seen as relatively stable (short-term balance at -1 percent for the manufacturing industry overall). Industrial product prices are forecast to increase in the next three months (short-term balance +34 percent).According to December 2022 estimates, the volume of construction output will drop considerably in the next three months (short-term balance -24 percent) and the sector's headcount is expected to decline moderately (short-term balance -11 percent). Prices of construction works are expected to increase (short-term balance +36 percent).In the retail trade sector, the managers' estimates for the next three months are of relative stability of the economic activity (short-term balance -2 percent). The volume of orders for suppliers of goods is seen staying relatively stable (short-term balance -3 percent), just as the number of employees (short-term balance +4 percent). On the other hand, trading company managers expect a sharp increase in retail prices (short-term balance +43 percent).The demand for services (turnover) will register relative stability in the next three months (short-term balance -3 percent), as will the number of employees (short-term balance -2 percent). According to the managers' opinion, service selling or invoicing prices will follow an upward trend in the next three months (short-term balance +24 percent).The INS mentions that the short-term balance indicates the perception of business managers on the dynamics of a phenomenon that should not be mistaken for the rate of increase or decrease of any statistical indicator produced by the statistics authority. The short-term percentage balance is determined as the difference between the percentage of managers who chose the positive version of the phenomenon and the percentage of those who indicated the negative version.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
