European Semester 2018 Real Estate Results: Country Report

Introduced in 2010, the European Semester, or ‘EU Economic Governance’, is the annual process by which, on the basis of European Commission analysis, the EU member countries coordinate their economic policies throughout the year and address the economic challenges facing the EU to contribute to the financial stability and economic health of the Union.

Each year, the Commission undertakes a detailed analysis of each country’s plans for budget, macroeconomic and structural reforms. It then provides EU governments with country-specific recommendations for the next 12-18 months.

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Building and Maintaining Positive Working Relationship – The Key To Successful FM Service Delivery

The ability to increase service productivity and team performance is a growing challenge for Facilities Managers across all organisations, argues Steve Gladwin, Director of Nodus Solutions and the course leader for the next Quadrilect training course in Bucharest on 24th September 2018.

During this RABO Academy training program, Steve will explore how the role of the FM is evolving to meet changing commercial and organisational demands, and how adopting a more collaborative approach can deliver significant benefits in the delivery of FM services.

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A European retail sector fit for the 21st century

Retail is the second largest EU service sector after financial services, generating 4.5% of the value added in the EU economy and providing 8.6% of all jobs in the EU. EU households spend up to one-third of their budgets in retail shops. Retail is also a major driver for innovation and productivity. Through its interactions with other economic sectors, a better performing retail sector can trigger positive spill-over effects for the entire economy. Fewer restrictions in retail mean higher productivity in manufacturing. A more efficient retail sector can offer consumers lower prices which creates more demand and steers producers towards more innovative goods.

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Making the EU Work for Romanian Real Estate

The property industry is part and parcel of the wider economy, and property business success is largely about tailoring investment projects to future economic trends. However, that doesn’t mean that property investors need to be just passive risk takers. The future is not out of our hands. Indeed, the main purpose of organised real estate is to be a player in the political process that helps shape the economy. For real estate, that ‘economy’ is increasingly the EU. Though real estate is by its nature subject to national and sub-national regulation, the levers of macro-economic policy are shifting to the EU. Global investors and analysts increasingly think in terms of asset allocation to the EU and Romanian real estate has to demonstrate comparative advantage in that context.

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Commission Consults on Barriers to Retail Establishment

The European Commission was consulting on how to make it easier for retailers to do business within the EU, particularly given the growth of e-commerce and the accelerate multi-channel retail environment. The consultation was originally announced in the April 2017 Roadmap on Best Practices on retail regulation. The Roadmap proposes the adoption of a set of (non-legislative) best practices which member states can use when assessing and modernising national rules on setting up and operating retail outlets.

The Commission is concerned about a lack of growth in the European retail sector, in particular when compared with the US, where less restrictive entry conditions apply.

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European Semester – 2017 Romania Report

This report provides an assessment of Romania’s economy as described in the European Commission’s Annual Growth Survey published on 16 November 2016. In the survey the Commission calls on EU Member States to double their efforts on the three elements of the virtuous triangle of economic policy – boosting investment, pursuing structural reforms and ensuring responsible fiscal policies.

Some of the most important conclusion are:

Romania’s economy has been on an upward trend for the past two years. A post-crisis peak in terms of growth has been achieved in 2016 (at 4.9 %), strongly influenced by domestic demand on the back of procyclical fiscal policies. The rate of growing is estimated to lose some momentum, but remain elevated over the following years with a forecast for 4.4 % in 2017 and 3.7 % in 2018. However, the current account deficit deteriorated in 2016 and is estimated to deteriorate further driven by import growth due to strong domestic demand. Private consumption was at an elevated level as a result of wage hikes and indirect tax cuts. While private investment was supported by low interest rates and stable investor confidence, public investment declined in 2016 due to an unremarkable management of EU funding.

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