Fondul Proprietatea ended H1 2024 with a net profit of RON 212.9 million, compared to a loss of RON 680.3 million in the similar period of 2023, a company report informs."The Fund's liquid assets during H1 2024 included current accounts and bank term deposits. All instruments were denominated in RON, with maturities of up to one year. The most important cash inflows during H1 2024 were related to the proceeds from disposal of the entire stake in Engie Romania SA (RON 432.6 million) and the interest received (RON 26.2 million), while the most significant cash outflows were related to net dividends paid (RON 287.1 million), dividend withholding tax payments performed (RON 44.2 million) and the acquisition of treasury shares within the 15th buyback programme (RON 27.9 million). The net increase in equity investments of RON 66.9 million in H1 2024 was mainly generated by the valuation update as of June 30, 2024 (mostly CN Aeroporturi Bucuresti SA and Administratia Porturilor Maritime SA). As of June 30, 2024, the payable to shareholders comprised the dividends payable to shareholders, of which the most significant amounts are related to the September 29, 2023 special dividend distribution (RON 357.9 million)," the report states.At the same date other liabilities and provisions mainly comprised the withholding tax on dividends due to the state budget (RON 15.5 million) and Q2 2024 fees payable to the Sole Director (RON 9.9 million).Gross dividend income was mainly generated by the amounts recorded from CN Aeroporturi Bucuresti SA (RON 80.4 million) and Societatea Nationala a Sarii SA (RON 63.7 million).The gain from equity investments at fair value through profit or loss in H1 2024 was mainly generated by the valuation update as of June 30, 2024 for the largest unlisted holdings in the Fund's portfolio, mainly CN Aeroporturi Bucuresti SA (increase of RON 46.8 million) and AdministratiaPorturilor Maritime SA (increase of RON 21.1 million).Interest income in H1 2024, in amount of RON 19.5 million, arose from short term deposits and distribution bank accounts.
Călin Georgescu, the far-right, Russia-friendly politician who surprisingly emerged as the first-round winner of last year’s annulled presidential elections, officially submitted his candidacy for the repeat presidential election on Friday, March 7. Outside the Central Electoral Bureau (BEC) headquarters in Bucharest, supporters gathered to chant...
Romania’s anti-fraud agency ANAF will look into roughly 23,000 individuals who have earned income from renting properties for tourism purposes through online platforms such as Booking.com and Airbnb, according to finance minister Tanczos Barna. Individuals identified in this situation will receive compliance notifications, and anti-fraud inspectors will initiate audits where necessary. While obtaining such information […]
The Circular Catalysts program, an initiative of the British Council in partnership with the Romanian Cultural Institute, is making a return to Romania with the reopening of its documentary exhibition at the Museum of History and Ethnography in Târgu-Neamț. Running from March 7 to May 11, the exhibition showcases collaborations between Romanian and British designers, […]
Bucharest general mayor Nicușor Dan submitted his candidacy for the 2025 presidential elections on Friday, March 7, the first to do so among the announced candidates. He is running as an independent, and was assisted by volunteers to gather the necessary signatures. The 2025 presidential elections will take place on May 4 (first round) and […]
Brașov city officials are considering a proposal from a German company that aims to set up a Treetop Walk in the up-and-coming mountain city. It would be the first of its kind in Romania. The company's representatives made a first presentation of the concept on Thursday, March 6. The initiative aims to develop sustainable tourism […]
Romania is making progress year by year in reducing gender inequalities in the labor market. However, the wage gap remains over 20% in 2024, according to the "Gender Pay Gap" analysis conducted by PwC Romania based on data collected from the Paywell 2024 survey. The gap is calculated as the ratio between the average salary […]
