Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

BUCHAREST ROMANIA - MAY 25 2014: The Victoria Palace. Victoria Square.

Romanian politics has once again been thrust into turmoil by clashes within the ruling Social Democratic Party (PSD). For a party which less than a year ago comfortably won a general election, the PSD is currently looking surprisingly ragged. Opinion polls suggest that the party has lost almost a quarter of its supporters since last December’s election, and the prime minister, Mihai Tudose, is in open conflict with the party’s leader Liviu Dragnea. Mr Tudose is not currently, however, expected to face the same fate as his predecessor Sorin Grindeanu, forced out of office in June after the PSD voted to bring down its own government. Continue reading Romanian Cabinet Reshuffled as New Splits Emerge in Ruling Party

Poles Still Keen on German Jobs

Brandenburg Gate in Berlin in Germany. The Brandenburg Gate is a triumphal arch a city gate in the center of Berlin. It is one of the most known sites in Berlin.

Germany remains the primary destination for Poles looking to work abroad. According to Poland’s Centre for Public Opinion Research (CBOS), in 2016, 41 per cent of Poles working abroad chose the country’s Western neighbour, although there have been years when as many as 48 per cent of Poles abroad worked in Germany. There are two reasons Germany remains favourite: an average monthly salary of 3,700 euros — one of the highest in Europe — and the proximity of the labour market.  Continue reading Poles Still Keen on German Jobs

IMF Increases Growth Forecast With Emerging Europe Prominent

Dambovita river and center of Bucharest at sunset time Romania.

The global economy is speeding up but caution is needed. That was the message from leading economists after the International Monetary Fund (IMF) increased its growth forecasts, with global output growth no expected to increase from 3.2 per cent in 2016 to 3.6 per cent this year, and 3.7 per cent in 2018. But the global economy’s recent recovery may not last, despite a pickup in activity in all western countries except the UK. High asset prices, rapid credit growth in China, political turmoil in Catalonia and a cliff-edge Brexit are the primary risks. Continue reading IMF Increases Growth Forecast With Emerging Europe Prominent

Bad Payers Still Causing Problems for Romanian Firms

Close up Romanian currency note, LEI or LEU, Romania

More than a quarter of all invoices issued in Romania are paid late or not at all, a new report suggests. The study into European payment patterns, carried out by TNS for debt recovery specialist EOS, shows that 23 per cent of invoices are paid late, while 4 per cent are never paid at all. The rate is slightly above the average for the region (25 per cent). The best performers in Emerging Europe are Poland and the Czech Republic, where 80 per cent of payments are made on time. Continue reading Bad Payers Still Causing Problems for Romanian Firms

CEE Is Key to China’s Belt and Road Initiative

Shanghai skyline Panoramic view of shanghai skyline and huangpu river Shanghai China

With deep government pockets, technical sophistication and a comprehensive investment plan behind it, China’s Belt and Road Initiative (BRI) can have a big impact on the transformation of the Western Balkans. There are caveats, not least debt dependency on cheap Chinese loans, but a proactive approach throughout the region could bring welcome development for many in countries that are not prime investment destinations. Continue reading CEE Is Key to China’s Belt and Road Initiative

Lithuania Handed Top Marks for Business Services

Beautiful panorama of Vilnius Old Town taken from Gediminas hill; Lithuania

Innovation and excellence across all its operations: this is the definition given to the Lithuanian Global Business Services (GBS) sector by the latest Invest Lithuania report. Over the past eight years, the Baltic country has strengthened its position as a go-to destination for business services in Northern and Central Eastern Europe, with 41 business centres located in Vilnius alone, while several other towns throughout the country, including Kaunas and Klaipeda, are also growing in importance. Continue reading Lithuania Handed Top Marks for Business Services

Global Players Dash for Tempting CEE

dollar pound euro coin on euro background.

News is spreading. Long viewed by Western European and American financial institutions as a safe place to do business, private and public investment funds from parts as distant as Asia and Africa now view Central and Eastern Europe as more attractive than some western economies. That’s the headline finding of a new report jointly published by Skanska, JLL and Dentons. In the first half of 2017, investors spent approximately 5.6 billion euros across the region, 10 per cent more than the first half of 2016. Continue reading Global Players Dash for Tempting CEE