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Famous American rapper 50 Cent was announced as the headliner of the 2024 Summer in the City music festival in Bucharest. The event will take place at Romaero on August 18. The artist embarked on the global The Final Lap Tour last year, with over 103 shows in 35 countries. The tour started in North…

The Old Memories Are Getting More Persistent, an exhibition of photographic and videos works by Iosif Király, is set to open at the Museum of the City of Łódź as part of Fotofestiwal – the International Festival of Photography in Łódź. The show, the artist’s first solo one in Poland, is part of the Romania-Poland…

Romania’s annual inflation rate weakened further in May, to 5.1%, according to the official report released by the statistics institute INS on Wednesday, June 12. The figure dropped from 5.9% in April and 6.6% the month before. The inflation rate from the beginning of the year (May 2024 to December 2023) was 2.3%, INS also said. Food…

With 75% of the votes received for the mayoral seats in the local elections on June 9, the two ruling parties, the Social Democrats (PNL) and Liberals (PNL), managed to get nearly 90% of the seats and take a major headstart for the presidential and particularly parliamentary elections this autumn. While the outcome of the…

Raiffeisen downgraded on June 11 the shares of Romanian petroleum products transport company Conpet (BVB: COTE) to SELL from HOLD and set a new 12-month cum-dividend target price at RON 80, which implies a downside potential of 12% to the current (June 11) market price.  Raiffeisen says its downgrade of Conpet is mainly the result…

Budapest-based brokerage company Concorde Securities has issued a BUY recommendation for the shares of the Romanian telecommunications operator Digi Communications (BVB: DIGI) and a 12-month price target of RON 84 (a significant upgrade from RON 47 previously) in the coming months, which implies a potential of 27.3% growth versus the current price (June 11). Concorde…

Erste Group on June 7 revised upwards the 12-month target price for the shares of Romanian medical services provider MedLife (BVB: M) to 6.06, up 12% above the current (June 11) trading price, and changed its recommendation from Hold to Accumulate based on Q1/2024 financial results. The bank’s analysts explain the upgrading of the target…

Romanian petroleum products trader JT Grup Oil (BVB: JTG) announced that only a third (3.63 million) of the 10 million shares issued by its IPO found buyers but saluted the completion of the operation and confirmed that its shares would be traded at Bucharest Exchange starting from the end of June.  The EUR 4 million…

Romania’s state-controlled nuclear company Nuclearelectrica (BVB: SNN) announced it contracted EUR 240 million for project management organization (PMO) services for the preparation and implementation of the refurbishment of its Unit 1 reactor at Cernavoda nuke from Canadian Nuclear Partners (CNPSA). A long-term framework agreement was signed in this regard, the company announced.  Under the agreement,…

The Romanian economy will grow 3.3% this year and 3.8% in 2025 and 2026, according to the latest issue of the World Bank’s “Global Economic Prospects,” published on June 11. The WB’s forecast for 2024 is roughly in line with the 3.4% official projections used for the budget planning. Romania’s officials believe, however, that the…