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Romania ranks high in the ranking of European Union member countries with the highest unemployment rates among young people aged up to 25, according to data from Eurostat. In June this year, Romania had a youth unemployment rate of 20.50%, placing it fifth among the European countries with the highest youth unemployment rate, on a…

Legendary football player Gheorghe Hagi, the manager and owner of the Farul Constanța football club, announced that he is considering giving up the majority of the shares held in the club because it needs a capital injection in order to go to the next level – at European level. “We have to make this clear,…

Iasi airport in northwestern Romania will become energy-independent after expanding six-fold its PV park to cover 5ha and have an installed capacity of 6MW with 2MW of power storage capacity attached, according to the airport’s manager, Romeo Vatra. The airport has been operating a 1MW PV park since the autumn of 2023, and the new…

Biodegradable paper packaging manufacturer Exonia from Iași invested EUR 2.5 million in a new production line that will allow the factory to increase its production capacity by over 5,000 tonnes, or the equivalent of 100 million packages annually. According to the founder of the Exonia company, Tiberiu Stoian, it is “probably the most efficient and…

Romanian airline Legend Airlines has applied for authorization from the US Department of Transportation to operate charter flights between the European Union and the United States, according to Profit.ro quoting Ch-aviation. Legend Airlines operates a fleet of four A340-300 aircraft, two of which are wet-leased to Neos Air of Italy.  In June, the first direct…

Romanian flag carrier Tarom has permanently transferred its two slots per day at London Heathrow (LHR) to Qatar Airways for an undisclosed sum, SimpleFlying announced. However, the price must have been above GBP 20 million (EUR 23.5 mln) since BoardinPass reported last December that the Romanian airline rejected an offer for this amount. Separately, SimpleFlying…

Romania’s natural gas company Romgaz (BVB: SNG) announced that the Spanish contractor Duro Felguera dedicated only 70% of the resources pledged under the contract for the completion of the Iernut gas-fired power plant, and consequently, only 91% of the project was so far completed, according to Ziarul Financiar quoting the Romanian company’s H1 financial report.…

The net profit of Romanian natural gas grid operator Transgaz (BVB: TGN) surged 2.5 times y/y to RON 176 million (EUR 36 mln) in H1, amid higher tariffs and more revenues generated by the company’s subsidiary in Moldova, Vestmoldtransgaz – where Transgaz holds 75% and the European Bank for Reconstruction and Development 25%. The market…

On June 30, 2024, EVERGENT Investments, a company listed under the ticker EVER, reported a net result of 250 million lei, which is 2.6 times higher than the budgeted level for the entire year of 2024. This figure includes a net profit of 122.5 million lei and a net gain of 127.5 million lei from…

The heat has been never-ending and relentless this summer. The only thing that makes it more tolerable are the nights and for film buffs, all the night-time outdoor events. You could also call them the tropical movie nights of 2024. Speaking of “tropical”, there is one initiative I have not mentioned so far, but it…