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Romanian hydropower group Hidroelectrica (BVB: H2O) has completed renovation works on hydro aggregate 5 (HA5) at Romania’s Stejaru Hydropower Plant, increasing its power output from 50 MW to 54.126 MW.  The EUR 12.3 million (RON 61.7 million) investment includes EUR 10.3 million (RON 51.5 million) allocated to re-engineering the hydro unit. The company’s subsidiary, Hidroserv,…

Romanian biofertilizers producer Norofert (BVB: NRF) decided to raise RON 15 million (EUR 3 million) with a bond issue at the Bucharest Stock Exchange, envisaging a 5-year maturity and 10% coupon payable semiannually. Among the reasons for the offer, the company mentions the investments “in irrigation at the farm in Zimnicea, investments for the external…

The Constitutional Court (CCR) has validated the results of the first round of the presidential elections, setting the stage for a second round between Călin Georgescu, the surprise winner of the first round, and Elena Lasconi, the candidate of the center-right Save Romania Union (USR). The decision to validate the first round results comes after…

Helmuth Duckadam, the former star Romanian goalkeeper, passed away at the age of 65 at the Military Hospital in Bucharest on Monday, December 2.  Duckadam, nicknamed “The Hero of Seville,” played a decisive role in securing the only globally significant trophy in Romanian football history, through Steaua Bucuresti’s 1986 triumph against Barcelona. He saved all…

Romania’s state railway operator CFR Călători is set to connect Bucharest to the mountain city of Brașov, about 185 km away, with four new Alstom electric trains as part of its new train timetable. The new timetable, which will come into effect on December 15, will have the railway operator running 1,100 trains daily.  “The passenger…

Two stone statues, carved more than 650 years ago, were discovered during restoration work at the Oradea Fortress, in western Romania. The statues represent the apostles and are likely part of the altar of the former Gothic cathedral, which was an important Catholic pilgrimage site. The cathedral was famous for centuries but was abandoned and…

The Romanian Auto Registry (RAR) introdced the RAR Auto-Pass certificate as of December 1 – a digital document that can be requested exclusively online. The move is designed to help buyers avoid purchasing cars advertised as having less miles than in reality.  The certificate includes a history of odometer readings provided by vehicle inspection stations…

President Klaus Iohannis, whose second mandate as head of state is ending, held a press conference reviewing the ten years in office on December 1 – Romania’s National Day. During the conference, Iohannis asked Romanians for forgiveness for the mistakes he had made. Klaus Iohannis started the conference by highlighting the “Educated Romania” project, strengthening…

The ruling Social Democratic Party (PSD) is set to win the parliamentary elections held in Romania on December 1, followed by the far-right AUR, the National Liberal Party (PNL), and the reformist party Save Romania Union (USR). As the vote count nears completion, results seem to confirm that seven political parties managed to pass the…

The average day-ahead market price (PZU) in Bucharest rose sharply in November to RON 836/MWh, according to preliminary data quoted by Economica.net. The market operator, OPCOM, is expected to confirm the figures shortly.  This represents an 87% increase compared to October’s average price of RON 446/MWh. The surge in November marks the end of a…