Category: Uncategorized

Romania’s Restart Energy One, an independent energy supplier that is also developing renewable energy projects, announced plans to issue 5-year bonds denominated in euros with a 9.5% coupon attached “to finance the company’s accelerated expansion.” It is not clear whether the bond issue is replacing or preceding the IPO announced by the company last October.…

Romania’s state company Nuclearelectrica (BVB: SNN), the operator of the Cernavodă nuclear power plant, and Korea Hydro&Nuclear Power (KHNP) are starting construction work on the first tritium removal (detrification) facility in Europe at the Cernavodă site. Last year, the estimated value of the investment was revised upwards from EUR 130.4 million to EUR 195.3 million,…

Romanian businessman Dorinel Umbrarescu is reportedly facing legal complications in his plans to take over the ailing steel mill Otelu Rosu operated by Laminorul Danube Metallurgical Enterprise (LDME), currently under insolvency and idle for years, Profit.ro announced. Umbrarescu, currently active in the road construction industry, announced it is taking over the insolvent steel mill Otelu…

Romanian online retail group eMAG (Dante International) completed in March the RON 3.2 billion (EUR 640 million) three-year investment plan initiated in 2021 and intends to invest another RON 900 million (EUR 180 million), expecting to result in 15% higher turnover in the next financial year that begun in April, according to company’s representatives quoted…

Both exports and imports of Romania increased in April by 14.8% y/y and 17.8% y/y, respectively, as the Easter holiday hit the economic activity in May this year (compared to April in 2023), according to data published by the statistics office INS.  The trade deficit widened, accordingly, by 29% y/y – which is more than…

Romania will host an edition of the European Youth Olympic Festival for the second time in 2027, the Olympic and Sports Committee (COSR) announced. The winter event will take place in Brașov, also a host in 2013. Prime minister Marcel Ciolacu approved a memorandum on supporting the organization of the European Youth Olympic Festival in…

Romanian students won five gold medals, two silver medals, and an honorable mention at the Asian Physics Olympiad, held in Malaysia. The gold medals were won by the team of Alexandru Momoiu, who is also the absolute winner of this edition, with the highest total score in the competition and the highest score in the…

The last temporary exhibition of the season at Art Safari, “The Gold of Brukenthal,” will be presented in Bucharest from June 27 to July 28.  The exhibition, curated by Alexandru Constantin Chituță, manager of the National Brukenthal Museum, will premiere works from the treasure of the History Museum Altemberger House in Bucharest.  The treasure of…

Cătălin Drulă, the president of the Save Romania Union (USR), has resigned after the party recorded disappointing results in the June 9 elections. “The result of the elections is below the expectations we had. […] I take responsibility for the result,” Drulă said in his resignation speech. Drulă won the elections for the president of…

Liceul Teoretic “Scoala Mea” is thrilled to announce the launch of our fully international division for students in years 10 to 13, following the prestigious Cambridge Curriculum for IGCSE and AS/A Level Exams. At LTSM, our goal is to ensure that every student embodies the Principle of the Five Is: Individuality, Identity, Integrity, Internationalism, and…