Romania’s public spending spirals, pushing up deficit to 1.67% of GDP Jan-Feb:
romania-insider.com/romania-public-spending-january-february-2024
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| Last Updated | Mar 27 |
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Bucharest startup scene maintains positive outlook as economy grows: BR Exclusive - The startup ecosystem in Bucharest was valued at USD 37 billion last year ...
business-review.eu/br-exclusive/bucharest-startup-scene-maintains-positive-outlook-as-economy-grows-259893
Andrew Tate's trial on charges of rape and human trafficking can start, a Romanian court rules
apnews.com/article/andrew-tate-romania-trial-human-trafficking-rape-4dde5de557094c6eadde73722833327a
Quick Glance: Andrew Tate ridiculed for claiming having sex with women is gay
- Self-proclaimed misogynist influencer Andrew Tate has been ruthlessly mocked online after claiming it’s “gay” for men to have sex with women for pleasure.
- The controversial statement sparked various reactions, with some speculating it as his way of coming out.
- Tate, currently detained in Romania awaiting trial for rape and human trafficking, will be extradited to the UK after his trial to face additional sex charges. He denies all allegations.
Romanian Orthodox Church welcomes Moldovan priests wanting to join: Romania's Orthodox Church says it will keep welcoming priests bolting from Moldova's ...
reuters.com/world/europe/romanian-orthodox-church-welcomes-moldovan-priests-wanting-join-2024-04-25/
Quick Glance: Romanian Orthodox Church Embraces Moldovan Priests
- A growing conflict within Moldova's Orthodox community between the churches affiliated with the Russian Orthodox Patriarchate and the Romanian Church reflects the divided opinion among parishioners.
- Over 60 priests have switched from the Moscow-linked church to the Romanian Church since last year, aligning with Moldova's pro-European authorities' goal to join the European Union by 2030.
- The pressure to choose between the two rival churches highlights Moldova's tumultuous history, having been part of the Russian Empire, Soviet Union, and 'Greater Romania' in the past.
- While the Romanian Church continues to welcome Moldovan priests and establish new churches, the Moldova Metropolis has defrocked priests joining the rival church and urges them to return.
Sunak announces increase in defence spending to 2.5% of GDP by 2030: The prime minister said the world is "the most dangerous it's been since the end ...
bbc.com/news/av/uk-politics-68884595
Quick Glance: Increase in UK defence spending by 2030
- Prime Minister Rishi Sunak commits to raising spending to 2.5% of GDP, putting the defence industry on a 'war footing'.
- Sunak emphasized the need for deeper stockpiles of munitions and quicker replenishment due to the events in the Ukraine conflict.
- The planned increase in defence spending would require significant financial reshuffling, partly through announced measures to reduce the size of the civil service.
- Shortly after announcing the pledge to send weapons worth 500 million pounds to Ukraine, this commitment followed.
U.S. Economy Grew At Slowest Pace Since 2022 Last Quarter—But Still Far From Recession
forbes.com/sites/dereksaul/2024/04/25/us-economy-grew-at-slowest-pace-since-2022-last-quarter-but-still-far-from-recession/
Quick Glance: Unlikelihood of Fed Rate Cut Before Elections Disrupts Markets
- Investors cast doubt on a Fed rate cut before September.
- Expectations are now fully priced in for a rate cut on November 6-7.
- The shift in market expectations stemmed from inflation and growth data.
- There is now an estimated 75 percent likelihood of a Fed rate cut by September.
Popeyes expands in Romania with a first restaurant outside Bucharest: Two years after the official opening of the first Popeyes restaurant in Romania ...
romania-insider.com/popeyes-first-retaurants-outside-bucharest-romania-2024
UAE-based airline flydubai opens new office in Bucharest’s Eminescu Offices: flydubai decided to open a new office in Bucharest, in the Eminescu Offices building ...
romania-insider.com/flydubai-new-office-bucharest-april-2024
Michelin relocates plant from Poland to Romania: Michelin closes one factory in Poland, due to the high production costs and relocates production in Romania and ...
romaniajournal.ro/business/michelin-closes-factory-in-poland-relocates-production-to-romania-media-reports/
Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare
cnn.com/2024/04/25/economy/stagflation-us-economy-gdp/
Quick Glance: Rising Key Fed Inflation Measure in March
- In March, inflation remained strong, with an important indicator closely monitored by the Federal Reserve indicating elevated price pressures.
- The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, above expectations.
- Both the all-items PCE price gauge and the core index increased by 2.7%, higher than estimates, leading to a positive market reaction.
- Markets reacted mildly to the data, with Wall Street set to open higher, while Treasury yields fell and the probability of rate cuts increased slightly.
Julius Meinl Living buys Ambasador Hotel Bucharest: Julius Meinl Living announces the completion of the acquisition of the Ambassador Hotel in Bucharest ...
romaniajournal.ro/business/julius-meinl-living-concludes-acquisition-of-ambasador-hotel-in-bucharest/
Alstom completes new maintenance depot for electric trains in Bucharest: Alstom
romania-insider.com/alstom-maintenance-depot-electric-trains-bucharest-2024
Quick Glance: Alstom completes construction of new electric train maintenance depot in Bucharest
- Alstom has finalized the construction of a new maintenance depot in Bucharest specifically designed for electric vehicles. The Alstom Grivita Depot is Romania's pioneering facility dedicated to servicing and testing electric trains and locomotives.
- Currently, the first EMU from an order of 37 units for Romania's Authority for Railway Reform (ARF) is undergoing mandatory testing at the new depot for market certification.
- Alstom is actively recruiting for the new maintenance center, anticipating the addition of around 50 employees who will participate in the project and receive specialized training.
- Having operated in Romania for three decades, the company leads in railway electrification and signaling solutions, boasting a workforce of over 1,500 employees.
Stock market today: GDP growth weaker than expected to start the year: The US economy grew at an annualized rate of 1.6% in the first three months of the year ...
markets.businessinsider.com/news/stocks/stock-market-today-q1-gdp-sp500-earnings-meta-microsoft-alphabet-2024-4
Residents evacuated after street collapses in Romania’s Slănic town: A street in the town of Slănic in Prahova county, some 120 north of Bucharest ...
romania-insider.com/street-collapses-slanic-romania-april-2024
China: Economy outperforms first quarter forecasts: Strong performance in the manufacturing sector as well as new infrastructure projects helped China's ...
dw.com/en/china-economy-outperforms-first-quarter-forecasts/a-68835129
Secretary General urges NATO members to send weapons to Ukraine instead of spending 2% of GDP on defence
pravda.com.ua/eng/news/2024/04/17/7451676/
Quick Glance: NATO Urges Allies to Provide Air Defense Systems to Ukraine
- Beijing is informed by China's president that it is not considered a security threat, as conveyed to the German chancellor.
- Zelenskyy and his followers advocate for equal treatment: What is feasible for Israel should also apply to Ukraine.
- The recent investigation by Brussels into Chinese wind turbines coincides with the increasing dominance of Beijing in the global market for solar panels.
- An examination will be conducted into the impact of Chinese state subsidies on wind turbine operations in Spain, Greece, France, Romania, and Bulgaria.
Mega Image is hiring for the IT hub in Bucharest: Ahold Delhaize, which owns the Mega Image chain of stores, will launch a technology hub in Bucharest ...
romaniajournal.ro/business/mega-image-hires-hundreds-of-it-specialists-for-bucharest-hub/
Romanian Rate Cut in May Still Uncertain: Romania’s central bank may need more time before delivering the first reduction in borrowing costs in more than three ...
bloomberg.com/news/articles/2024-04-16/romanian-rate-cut-in-may-still-uncertain-amid-risks-central-banker-popa-says
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Stock market today: Dow drops 375 points after weak GDP data: Stocks dropped and bond yields rose as investors digested a tough reality of slowing GDP growth and ...
markets.businessinsider.com/news/stocks/stock-market-today-gdp-1q24-inflation-economy-tech-stocks-microsoft-2024-4
Roma household inaugurated at Bucharest’s Village Museum: The House of Lazăr Năftănăilă, a Roma household brought from the village of Calbor, in Braşov county ...
romania-insider.com/roma-household-village-museum-bucharest-apr-2024
Sweden should hike military budget to 2.6% of GDP, defence committee says: Sweden should raise its military spending to around 2.6% of GDP by 2030 ...
reuters.com/world/europe/sweden-should-hike-military-budget-26-gdp-defence-committee-says-2024-04-26/
Haferland Week to celebrate Saxons in Romania’s Transylvania in August: The 12th edition of the Haferland Week, an event dedicated to promoting the culture and ...
romania-insider.com/haferland-week-saxons-romania-transylvania-august-2024
Taiwan 2024 GDP forecast is 3.29% | Taiwan News | Apr. 25, 2024 14:16
taiwannews.com.tw/en/news/5673279
War, fear of war spur global military spending to new record: SIPRI report: New high of $2.4 trillion is ninth straight annual increase, suggesting trend will ...
aljazeera.com/news/2024/4/22/war-fear-of-war-spur-global-military-spending-to-new-record-sipri-report
Quick Glance: Global Military Spending Hits Historic High in 2023
- Global military spending hit a record high of $2.443 billion in 2023 after a 7% increase, as per a report.
- Military expenditure rose consistently over nine years in all regions due to worsening peace and security globally.
- Countries like Ukraine, Russia, Poland, Germany, and the UK saw significant spikes in their military spending.
- Israel notably increased its military spending significantly due to the conflict in the Middle East, particularly a major offensive in Gaza in 2023.
Bucharest Opera Festival holds All Puccini Edition this year: Bucharest Opera Festival will return in June with an All Puccini Edition.
romania-insider.com/bucharest-opera-festival-puccini-june-2024
Premier Energy announces intention to launch EUR 125 mln IPO on the Bucharest Stock Exchange
romania-insider.com/premier-energy-announces-initial-public-offering-bucharest-stock-exchange-april-2024
Bosch completes EUR 21 mln office building within Cluj engineering center: German group Bosch inaugurated the second office building of its Engineering Center in ...
romania-insider.com/bosch-completes-second-office-building-cluj-center-2024
UK to increase defence spending to 2.5% of GDP - meaning tens of billions of pounds of extra funding
news.sky.com/story/uk-to-increase-defence-spending-to-2-5-of-gdp-meaning-tens-of-billions-of-pounds-of-extra-funding-13121450
Senate expert committees greenlight Bucharest Green Belt amendments to new Forestry Code
romania-insider.com/bucharest-green-belt-amendments-forestry-code-april-2024
China's Q1 GDP growth surpassed expectations, data shows: China's economy grew faster than it was forecast in the first quarter, data released on Tuesday ...
foxbusiness.com/economy/chinas-q1-gdp-growth-surpassed-expectations-data-shows
Donation-funded children's hospital in Bucharest starts treating first patients: The children's hospital built in Bucharest by local non-profit Dăruiește Viață ...
romania-insider.com/daruieste-viata-hospital-bucharest-first-patients-april-2024
New Russian ambassador appointed to Romania: Vladimir Lipaev, former diplomatic envoy of Russia to Tallinn, was recently appointed as the new Russian ambassador ...
romania-insider.com/new-russian-ambassador-romania-april-2024
Respiro Center opens in Bucharest: The Respiro Center for disabled children and their families "Magic Rainbow" will provide free care for kids with disabilities.
romaniajournal.ro/society-people/respiro-center-for-disabled-children-and-families-opens-in-bucharest/
European Human Rights Court condemns Romania over Holocaust crimes retrials: The European Court of Human Rights (ECHR) ruled against Romania on April 23 in a ...
romania-insider.com/echr-romania-holocaust-crimes-retrials-april-2024
Bucharest City Hall opens charity shop: The Bucharest City Hall and Eco Durabil Association have opened the charity shop O mână de ajutor (A Helping Hand) in the ...
romania-insider.com/charity-shop-bucharest-city-hall-apr-2024
Poll confirms Bucharest mayor likely to get another term: The independent mayor of Bucharest, Nicusor Dan, would win another term with 35%-37% of the votes, d
romania-insider.com/poll-nicusor-dan-second-term-bucharest-mayor-april-2024
Romania breaks its Holocaust taboo with a specific subject at school: Since last September, Romanian high school students have been obliged to learn about the ...
english.elpais.com/international/2024-04-11/romania-breaks-its-holocaust-taboo-with-a-specific-subject-at-school.html
Fitch assesses Bucharest municipality's risk profile above that of Romania: International rating agency Fitch announced that it assesses the Standalone Credit ...
romania-insider.com/fitch-bucharest-rating-april-2024
NATO target for defence spending should rise due to 'more dangerous world', Grant Shapps says
news.sky.com/story/nato-target-for-defence-spending-should-rise-due-to-more-dangerous-world-grant-shapps-says-13121877
Art Safari exhibition in Bucharest tells ‘History of Romania in 100 Portraits’: Wars, uprisings, revolutions, intrigues, Romanian awards, and innovations are ...
romania-insider.com/art-safari-exhibition-bucharest-history-romania-100-portraits-2024
Romanian fashion brand MIZAR continues its national development by opening a new store in Argeș Mall, Pitești
business-review.eu/lifestyle/romanian-fashion-brand-mizar-continues-its-national-development-by-opening-a-new-store-in-arges-mall-pitesti-259679
About 29,000 Romanians die prematurely each year due to pollution, NGO representative says
romania-insider.com/romanians-die-prematurely-each-year-pollution-ngo-representative-2024
Bucharest underwater by 2025 due to rising sea levels: AI has generated artist impressions of Bucharest, Romania and how residents could be affected by rising ...
romaniajournal.ro/society-people/rising-sea-levels-will-leave-bucharest-underwater-in-2050-artificial-intelligence-reveals/
Verde Magnesium Okayed for mine in Oradea: Romania granted a mining concession to the Romanian Verde Magnesium, which is backed by the American private equity ...
romaniajournal.ro/business/europe-resumes-magnesium-extraction-to-reduce-china-dependency/
The US economy is cooling off. Why experts say there's no need to worry yet: The economy slowed dramatically to start 2024.
abcnews.go.com/Business/us-economy-cooling-off-experts-worry/story
The rich world faces a brutal spending crunch: Countries including America, Britain and France are up against remorseless fiscal logic
economist.com/finance-and-economics/2024/04/09/the-rich-world-faces-a-brutal-spending-crunch
Immersive shows of Bucharest’s MINA museum coming to Cluj-Napoca, Iași and Timișoara
romania-insider.com/mina-immersive-shows-traveling-2024
China's GDP grew 5.3% in Q1, beating expectations : China’s economy beat expectations in the first quarter of the year with help from policies and an increase in ...
apnews.com/article/china-gdp-economy-first-quarter-a0743b0982996194c07713c5c701918f
Two years of war have impoverished many Ukrainians: The elderly, the displaced and the disabled are the worst affected
economist.com/europe/2024/04/21/two-years-of-war-have-impoverished-many-ukrainians
UK economy grows slightly for second month in a row: A recession was declared in February after data showed two quarters of economic contraction ...
news.sky.com/story/uk-economy-grows-slightly-for-second-month-in-a-row-13113295
Quick Glance: UK on Track to Exit Recession with Rising GDP
- Britain's GDP rose by 0.1% in February despite heavy rainfall affecting the construction sector and retail.
- Sectors like manufacturing and services experienced growth, while construction saw declines due to bad weather.
- Recent months of economic growth suggest the recession may soon come to an end, although pressure from the cost of living crisis and higher prices persists for households and businesses.
- Despite the positive growth in 2024, GDP remains below 2023 levels and has been stagnant since early 2022, with real wages continuing to decrease and many facing financial difficulties.
US economy grew slower than expected at the start of 2024: Gross domestic product, the broadest measure of goods and services produced across the economy ...
foxbusiness.com/economy/us-gdp-economy-first-quarter-2024
Romania bans gambling in small towns: A unanimous vote by legislators belies divisions over the wisdom and practicality of the policy.
euronews.com/my-europe/2024/04/10/romania-bans-gambling-venues-in-small-towns-and-villages
Romanian Athenaeum receives European Heritage Label: The Romanian Athenaeum in Bucharest, a landmark of the capital's cultural landscape, is one of the
romania-insider.com/romanian-athenaeum-european-heritage-label-2024
Fly Lili to launch flights from Brasov to several European cities this year: Brasov County Council announced on April 15 that the Fly Lili airline will fly from ...
romania-insider.com/fly-lili-launch-flights-brasov-2024
Cherry Blossom Festival happens in Herastrau Park this weekend with free entrance
business-review.eu/bucharest-going-out/cherry-blossom-festival-2024-259092
Weekend calendar: Hanami in Herăstrău, Bucharest Sculpture Days, Urban Blues Fest and more
romania-insider.com/weekend-calendar-hanami-herastrau-bucharest-sculpture-days-urban-blues-fest-and-more
What to read about India’s economy: Can it emulate China’s past manufacturing success—and should it even try?
economist.com/the-economist-reads/2024/04/22/what-to-read-about-indias-economy
Infosan: Ophthalmological treatments in Romania, comparable to those in Western Europe, but with half the prices
business-review.eu/business/healthcare/infosan-ophthalmological-treatments-in-romania-comparable-to-those-in-western-europe-but-with-half-the-prices-259240
Scottish tourist mauled by bear through car window in Romania: The 72-year-old from West Lothian has put her arm's surival down to the fact she was wearing ...
news.stv.tv/scotland/scottish-tourist-mauled-by-bear-through-car-window-in-romania
Auckland to Northland expressway will boost GDP by $1.2b a year, report shows: A four-lane expressway from Auckland’s Warkworth to Northland’s Kaikohe would have ...
nzherald.co.nz/northern-advocate/news/auckland-to-northland-expressway-will-boost-gdp-by-12b-a-year-report-shows/KWVVAXLM75FRZBZJ6QFINPPWJA/
Russian ambassador to Romania ends his term: The Ambassador of the Russian Federation to Bucharest, Valery Kuzmin, has concluded his diplomatic m
romania-insider.com/russian-ambassador-romania-ends-term-2024
How fast is India’s economy really growing?: Statisticians take the country’s figures with a pinch of salt
economist.com/finance-and-economics/2024/04/11/how-fast-is-indias-economy-really-growing
16 million Californians use TikTok. Soon, it could go away. What would that mean?
sacbee.com/news/politics-government/capitol-alert/article287974225.html
Quick Glance: ByteDance Would Consider Closing TikTok in US Over Sale, Sources Claim
- ByteDance would prefer to cease TikTok operations rather than engage in a sale if all legal avenues are exhausted to combat potential legislation banning the platform in US app stores, as per four sources.
- Despite TikTok's massive popularity with over a billion users, it remains unprofitable, contributing a small fraction to ByteDance's overall revenues and daily active user base.
- ByteDance stated on Thursday in a release on Toutiao, a media platform it possesses, that there are no intentions to sell TikTok, in response to claims from The Information about ByteDance exploring sale scenarios for TikTok's US operations excluding the recommending algorithm for user videos.
- As of December, ByteDance's valuation stood at $268 billion when it proposed a buyback of approximately $5 billion in shares from investors.
Recession outlook: Soft-landing is already here, Evercore founder says: "Arguably, the soft-landing already has happened," one Wall Street veteran says ...
businessinsider.com/recession-outlook-economy-soft-landing-job-market-stocks-gdp-growth-2024-4
Bitcoin price risks 1-week lows as US GDP sparks ‘stagflation’ woes: Bitcoin reacts to “stagflationary” U.S. macro data with BTC price nearing weekly lows.
cointelegraph.com/news/bitcoin-price-1-week-lows-us-gdp-stagflation
Yellen: Subpar U.S. growth may get revised up, inflation will ebb: U.S. Treasury Secretary Janet Yellen told Reuters on Thursday that U.S. economic growth was ...
reuters.com/markets/us/yellen-says-economy-performing-well-inflation-will-ebb-2024-04-25/
‘Operation Save Rishi’ Aims to Get UK Premier Through Key Vote: Rishi Sunak said this week he’s putting UK defense spending on a “war footing ...
bloomberg.com/news/articles/2024-04-27/-operation-save-rishi-aims-to-get-uk-premier-through-key-vote
China's first-quarter industrial profits rise at slower pace: China's industrial profits posted smaller gains for the first quarter compared to the first two ...
reuters.com/world/china/chinas-first-quarter-industrial-profits-rise-slower-pace-2024-04-27/
US Economic Growth Isn't Helping Biden Reelection Campaign Due to Inflation: The latest good news and bad news about the US economy is just plain bad news ...
bloomberg.com/news/articles/2024-04-26/growth-plus-inflation-economy-is-a-lose-lose-for-biden
Paid articlePaid Euro zone consumers lower inflation expectations again, ECB survey shows: Euro zone consumers lowered their expectation for inflation over the next 12 months in ...
reuters.com/markets/europe/euro-zone-consumers-lower-inflation-expectations-again-ecb-survey-shows-2024-04-26/
Shehbaz Sharif is 'ashamed' as Bangladesh beats Pakistan in economic growth
wionews.com/south-asia/shehbaz-sharif-is-ashamed-as-bangladesh-edges-pakistan-in-economic-growth-714891
Cooler US GDP Growth Obscures Resilient Demand From Consumers, Businesses: The surprisingly sharp downshift in US economic growth last quarter masked otherwise ...
bloomberg.com/news/articles/2024-04-25/cooler-us-gdp-growth-obscures-resilient-demand-from-consumers-and-businesses
South Korea's public finances no longer a credit rating 'strength', Fitch says: South Korea's public finances are no longer a strength for its sovereign credit ...
reuters.com/markets/asia/south-koreas-public-finances-no-longer-credit-rating-strength-fitch-says-2024-04-26/
US Treasuries Slide After GDP Data as Inflation Pressures Temper Fed Rate Cuts: Treasuries slid as signs of sticky price pressures in a reading of first-quarter ...
bloomberg.com/news/articles/2024-04-25/treasuries-drop-as-first-quarter-price-pressures-temper-fed-cuts
Weaker GDP Isn’t a Reason to Dump Stocks: Blue chip techs, financials and industrials can keep growing.
on.barrons.com/44i0Y0n
Türkiye touts growing investments in Romania, robust trade: Vice President Cevdet Yılmaz on Thursday said Türkiye has made billions of dollars worth of direct ...
dailysabah.com/business/economy/turkiye-touts-growing-investments-in-romania-robust-trade
Delhi’s Dilemma: A Growing Economy and Growing Unemployment: India is on its way to becoming the third-largest economy in the world, yet unemployment among young ...
thediplomat.com/2024/04/delhis-dilemma-a-growing-economy-and-growing-unemployment/
Fixed Income Luminaries Favor Coupon Clipping as US Yields Rise: Welcome to the Weekly Fix, the newsletter with high yields and low duration risk ...
bloomberg.com/news/newsletters/2024-04-26/fixed-income-luminaries-favor-coupon-clipping-as-us-yields-rise
Stock Market Today: Dow, S&P Live Updates for April 24: A $250 billion exchange-traded fund tracking the Nasdaq 100 got hit in late hours after Meta Platforms ...
bloomberg.com/news/articles/2024-04-23/stock-market-today-dow-s-p-live-updates
Paid articlePaid Stock market today: US futures climb ahead of Magnificent 7 earnings: Microsoft, Alphabet, Meta, and Tesla are all set to report first-quarter earnings this week ...
businessinsider.com/stock-market-today-microsoft-alphabet-meta-tesla-magnificent-seven-earnings-2024-4
How SC verdict on childcare leave opens up possibilities for women: A decrease in women’s unpaid care work is related to a 10-percentage point increase in ...
indianexpress.com/article/opinion/columns/how-sc-verdict-on-childcare-leave-opens-up-possibilities-for-women-9291069/
Oil prices on track to snap two-week losing streak: Oil prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top U ...
reuters.com/markets/commodities/oil-prices-rise-us-official-eases-market-concerns-over-economic-headwinds-2024-04-26/
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