Category: Uncategorized

Purcari Wineries Public Company Limited (BVB: WINE), a leading wine producer in Central and Eastern Europe, has announced the launch of Vintech Innovations.  This new IT company, wholly owned by Purcari, aims to enhance the group’s digital capabilities, streamline operations, and improve decision-making processes.  Anton Fortunatov, Chief Information Officer of Purcari, stated: “This is a…

Romanian oil and gas group OMV Petrom (BVB: SNP), controlled by the Austrian group OMV, will pay special dividends worth RON 1.87 bln (EUR 376 mln) to its shareholders at the beginning of September.  The gross dividend per share is RON 0.03 and represents 3.84% of the current share price of RON 0.781 (as of…

Romanian power group Hidroelectrica (BVB: H2O) has reached a significant milestone in its modernization project for the Stejaru Hydropower Plant, one of its biggest production units with an installed capacity of 210 MW.  On July 24, the upgraded Hydroelectric Unit No. 5 (HA5), with a capacity of 54.126 MW, was successfully synchronized with the national…

The Romanian government is set to approve funding of RON 500 million (EUR 100 mln) for several investment projects by the state-owned company Transgaz (BVB: TGN), the national gas transport system operator, Profit.ro reported.  This funding, sourced from the Environmental Fund financed by the sale of CO2 emission certificates allocated to Romania by the EU,…

A consortium comprising two American companies, one Italian, and one Canadian is set to submit a bid for the crucial contract regarding Units 3 and 4 at Romania’s Cernavodă Nuclear Power Plant.  Energy minister Sebastian Burduja announced that state-controlled nuclear power producer Nuclearelectrica will conclude negotiations with the consortium in September, with the contract expected…

Romanian lender Patria Bank (BVB: PBK) has secured a EUR 25 million loan from the European Investment Bank (EIB) under the Multiple Beneficiary Intermediated Loan (MBIL) program.  This initial tranche is part of a total of EUR 50 million approved by EIB to support small and medium-sized enterprises (SMEs) and mid-cap companies in Romania, with…

The Bank of China’s Romanian branch has received a written warning from the National Bank of Romania (BNR) for 12 breaches of banking regulations, including several violations related to anti-money laundering and counter-terrorism financing norms. The findings revealed in an inspection report, highlighted deficiencies in customer due diligence, particularly for online clients, and inadequate implementation…

Vodafone Romania, a key player in the local telecom sector and part of the British Vodafone Group, recorded 6.57 million mobile service customers at the end of June 2024, down from 8.6 million a year ago and 9.6 million in June 2022, according to the parent group’s quarterly report. The decline was primarily due to…

Romania’s Ministry of National Defense (MApN) confirmed on Thursday, July 25, that it found remains of a Russian drone following attacks on neighboring Ukrainian ports. The drone fell on Wednesday morning in a forest near the village of Plauru. The ministry’s teams are also searching for other drones that may have fallen last night on…

The majority of Romanian entrepreneurs, over 75% of those surveyed in a study by the Romanian Institute for Evaluation and Strategy, believe that climate change has a negative impact on the local business environment.  Another important conclusion of the study is that 6 out of 10 entrepreneurs believe that renewable energy will play a major…