Bucharest Stock Exchange

Romania's appeals court on Tuesday jailed a senator, Sorin Rosca Stanescu, for two years and four months for his involvement in a case seen as a test of Romania's ability to conduct high-level corruption trials.

Stanescu was found guilty of using privileged information and manipulating the stock exchange by underselling shares in the oil company Rompetrol and then buying them back.

Shares in Nuclearelectrica, the company that runs Romania’s sole nuclear power plant in Cernavoda, on Friday rose by almost 2 per cent on the Bucharest Stock Exchange, BVB, following the announcement of a deal to construct new units.

*The Bucharest Police on Friday morning operated some 76 searches - 63 in Romania's capital city and 13 in the counties of Ilfov, Prahova, Dambovita, Teleorman, Giurgiu and Ialomita - in order to dismantle a mob specialized in tax evasion, money laundering and illegal VAT reimbursement, supposed to have created losses of around EUR 68 million.