Monday, June 16th

Government will list on the stock exchange 51 percent of Electrica Company

Starting today and until June 25th subscriptions can be made for the public bid on the majority stake owned by the state at Electrica Company. 85 percent of the shares are offered to institutional investors, and the Government aims to get at least 435 million euros for 51 percent of Electrica shares it will list on the stock exchange. Physical bodies, small investors, may subscribe for the price of 13.50 lei per share, and the transaction will be carried out by eligible brokers, who are on the list published on the Bucharest Stock Exchange website.

EU funds absorption has been below expectations in the first five months of 2014

The absorption of EU funds has been below expectations in the first five months of this year, especially for the environment and transport. Minister Eugen Teodorovici says, however, that by the end of the year the 3.5 billion euros goal will be reached in bills issued to the European Commission. By the end of next year, Romania will spend 80 percent of the funds allocated in the current financial community framework. The Minister has also announced that the budget for large investments for SMEs will be supplemented with 80 million euros.

Over 300,000 foreigners have visited Romania in the first three months of 2014

In the first three months of this year, over 300 000 foreigners have been staying in hotels and hostels in Romania, where they spent over 870 million lei, according to the National Institute of Statistics. Three quarters of them have been in Romania on business or to attend conferences and exhibitions. Only a third of foreign tourists have chosen Romania for holidays or shopping. Out of the total money spent, half went on accommodation and only 16 percent in bars and restaurants. Last year, Romania was visited by 1, 710,000 foreign tourists who spent over a billion euros.

44 radio theater productions from 21 countries are presented in Bucharest

Today, the second edition of the International Theatre Festival radio "Grand Prix Nova", organized by Radio Romania has started. 44 radio theater productions from 21 countries will be presented, these days, in Bucharest. For the first time, this year, Radio Romania will reward the best actors cast in radio theater shows, and it will award three prizes. The President of the Jury, Italian director and writer Irel Bertofei has spoken about the theme of this edition of the festival which is innovation. He has said that the imagination is a good way to get out of a crisis period, and though the radio production does not change the world, it but can contribute to building the future.

Natalia Polikarpov

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