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The net profit of BRD (BVB: BRD), the fourth bank on the Romanian market by assets, contracted by 10% y/y to RON 675mn (EUR 136mn), although both lending and income increased. At the level of the entire BRD Group, the net profit dropped by 9.6% y/y to RON 694mn, resulting in an annualized return on…

The Romanian Ministry of Energy and the three regional electricity distribution subsidiaries (Muntenia, Banat, and Dobrogea), part of the Greek PPC group in Romania, signed three non-reimbursable (grant) financing contracts through the Modernization Fund for projects aimed at electricity distribution infrastructure in Ilfov, Călărași and Arad counties. The three investment projects have a total value…

Utility company Electrica, where the Romanian state is the largest shareholder (49.8%), announced in a note to investors that its subsidiary Distributie Energie Electrica Romania (DEER) was given a EUR 200mn non-reimbursable (grant) financing through the Modernisation Fund, representing 80% of the eligible expenses (EUR 250mn), for five more new investment projects in the electricity…

The industrial price index in Romania rose by 1.9% over the three months in Q2 (Apr-Jun), driven by the 4.4% rise in the energy prices, and the annual industrial price inflation turned into the positive area (+1.1% y/y in June) after nearly a year in the negative territory. However, a more detailed analysis shows that…

Romania’s women 8+1 rowing crew won the gold medal at the Olympic Games in Paris after the final on Saturday, August 3. This is the third gold medal for Team Romania in Paris, after those won by swimmer David Popovici in the 200-meter freestyle competition, and by the men’s double sculls rowing crew.   Romania…

Metrorex, the company operating the Bucharest subway, has announced the launch of the platform card.metrorex.ro for recharging contactless subway access cards. The service is only available to weekly, monthly, six-month, and annual subscriptions so far. To benefit from the platform’s service, travelers must possess a nominal contactless card with one of the abovementioned subscriptions, which…

Romania has signed a financing agreement with the World Bank worth EUR 600 million for development policies, with the loan’s approval conditioned on implementing structural reforms. According to the Ministry of Finance, the reforms were completed before the negotiation. “Today, August 1, 2024, finance minister Marcel Boloș signed, on behalf of Romania, the Loan Agreement…

The Hungarian low-cost airline Wizz Air recently announced the introduction of new routes from Romania, reconnecting Bucharest and connecting Iași for the first time with Malmö, Sweden, and connecting Bucharest with the coastal city of Salerno, Italy. Starting at the end of October, Wizz Air will operate flights from Bucharest and Iași to Malmö twice…

The pair made up of Gianina van Groningen and Ionela Cozmiuc has won the silver in the women’s lightweight double sculls race at the Paris 2024 Olympics. The Romanian team finished with a time of 6:48.78. The U.K. team won the race with a time of Great Britain, while Greece came in third with a…

Romanian rowers Ioana Vrînceanu and Roxana Anghel have won the silver medal in the women’s coxless pair final at the Paris 2024 Olympics. The Romanian team finished with a time of 7:02.97, behind the Netherlands team, who had a time of 6:58.67, and ahead of the Australian team, who finished with a time of 7:03.54.…