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Untold, the music festival held yearly in western Romania’s Cluj-Napoca, had more than 427,000 participants at this year’s edition. More than 30% of them came from abroad, a 5% increase compared to the previous year, the organizers estimate. Germany, the UK, France, Italy, Poland, Spain, the Netherlands, Belgium, Switzerland, Austria, Norway, Hungary, Ireland, Slovakia, and…

A selection of Romanian films, foreign productions and concerts are part of the program of Alba Iulia Music & Film Festival (AIMFF), scheduled to take place between August 23 and August 25. The 12th edition of AIMFF will open on August 23 with Stere Gulea’s Moromeții 3. Unlike the previous two films, it is not…

Heart2hearT, a show by Romanian choreographer Gigi Căciuleanu on a score by Romanian composer Dan Dediu, is shown at Battery Dance Festival in New York this week, the Romanian Cultural Institute (ICR) announced. The performance is a free choreographic duo inspired by the story of the Miorița, seen as a “symbol of absolute devotion and…

Romania’s GDP increased by 0.8% y/y in Q1, accelerating from the thin 0.5% y/y advance in Q1. Still, it lags significantly behind the Government’s and even the central bank’s expectations, according to the flash estimate published by the statistics office INS. The figures are disappointing and likely to trigger downward revisions for the full-year economic…

The new Pension Law, to be enforced as of September 2024, was designed to achieve fairer compensation for retired persons, based on their contribution to the pension fund, but it adds a significant cost of 0.5% of GDP this year and 1.5% of GDP for the next three years, according to the data published by…

Romania’s natural gas company Romgaz announced its net profit rose by 9% y/y to RON 1.84 billion (EUR 370 million) even if its turnover dropped by 20.4% y/y to RON 3.9 billion (EUR 780 million) in H1. The good result was due to the phasing off of the solidarity contribution charged by the state, after…

The revenues of Romanian nuclear group Nuclearelectrica (BVB: SNN), which operates the Cernavoda nuclear plant, dropped by 44% y/y to RON 2.1 billion (EUR 420 million) in H1 on lower electricity prices, but the net profit dropped by only 35% y/y to RON 843 million (EUR 170 million) in H1 due to lower tax on…

The Romanian telecommunications group Digi Communications (BVB: DIGI) announced its consolidated revenues increased 13% y/y to EUR 921 million, while its net profit doubled y/y to EUR 54.3 million in H1. The company’s market capitalization reached EUR 1.24 billion after the price of its shares rose by 77% y/y. This puts the annualized profit realized…

Ahold Delhaize taking over Romanian retail chain Profi from Mid Europa Partners poses multiple challenges due to the strong position achieved by the buyer, which already operates local retail chain Mega Image, on both wholesale procurement and retail markets, Romania’s competition body commented on August 14.  The Competition Council also said it is open to…

Romania’s industrial output contracted by 1.6% y/y in Q2, dragged down by the sector of utilities (-10.9% y/y), while manufacturing fared relatively better (-0.3% y/y), according to data published by the statistics office INS.  The seasonally adjusted output dropped by 1.1% q/q, reversing the +1.1% q/q advance in Q1. While the Q2 industrial output figures…