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.
Romania was formally designated the 43rd country to join the US Visa Waiver Program (VWP) on Friday, January 10. According to the Romanian ambassador to Washington, Andrei Muraru, Romanian citizens will be able to travel to the US without the need for a visa starting March 31, 2025. "Romania becomes the first country in the […]
Cluj-Napoca, the city in Romania with some of the highest rents and a fast-growing IT industry, is closer to banning smoking in playgrounds and parks after mayor Emil Boc expressed his support for the measure. The mayor cited the prioritization of public health as the reason behind such a ban. He mentioned that he has […]
Romania's Sibiu County Emergency Clinical Hospital will receive a robotic system to prepare cytostatic drugs needed by cancer patients, along with other equipment, after the County Council obtained funds from the European Regional Development Fund. With an estimated value of EUR 1 million, the "Robotic Composition System for Sterile Preparations of Cytostatic Drugs" is among […]
Romania’s government adopted in its January 10 meeting a decision granting an extra day off to public sector employees at the beginning of May. Thus, Friday, May 2, will be an official day off for public sector workers, linking the legal holiday of May 1 (Labor Day) with the weekend (May 3-4). This...
The Ministry of Environment announced that 2024 was the hottest year in the history of Romania's meteorological records. Red alerts for heat waves began in June of 2024, with the longest consecutive periods of persistent and intense heat waves, six consecutive days, between July 13-18 and August 15-20. "The year 2024 is the hottest year...
Supporters of former presidential candidate Călin Georgescu gathered outside the Parliament Palace in Bucharest, which houses the Constitutional Court, on January 10, demanding a rerun of the second round of the presidential elections. The protest, dubbed "The Great Judicial Union," was initiated by Georgescu, who called on his supporters to challenge the election annulment, as […]
