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Liviu Turdean, the CEO of Farmec - Cluj Napoca, Romania"s leading cosmetics company, has stepped down after 40 years in the cosmetics industry.

The management of the Russian gas giant "Gazprom" promissed yesterday in Brussels, that it would resume delivery of natural gas to the EU as soon as the international observers reach the access points on the territory of Ukraine.

At first, Romanian authorities assured the people that we were not going to be in any way affected by the ongoing gas crisis.

Israel announced that Israeli troops would halt attacks on Hamas targets in the Gaza Strip for three hours per day - between 11:00 and 14:00 GMT (13:00 - 16:00 Romania time) to enable humanitarian aid to reach the Palestinian territory.

The Baneasa Airport near Bucharest reported a 30-40% increase in traffic in December compared to an average month. Exotic destinations contributed largely to this increase, according to Baneasa Airport General Manager Stefan Mladin.

A Vienna-based company has won a five-year contract to provide advanced IT services to Romania"s National Employment Agency (ANOFM) for a total of 22.41 million EUR, according to an announcement put on the electronic tendering system for...

Romanian Prime Minister Emil Boc yesterday received Petr Dokladal, the Ambassador of the Czech Republic, which took over the Presidency of the Council of the European Union on 1 January 2009.

Romanian transporters members of FORT have harshly criticized the Ministry of Transports for changing the fees for the services delivered by the Romanian Road Authority.

"Banca Transilvania" has decided to sell to Aegon its 50% stake held in BT Aegon for some 11 million Euros, with both companies being shareholders in the private pension management company until now.

The employees of Mechel Târgovişte will no longer be able to continue their work in January because of the problems with the delivery of gas, thus approximately 3.000 metallurgists will be staying home, receiving only 75% of their wage.

Romgaz has released estimates indicating a Y2008 gas production of 5.85 billion cubic meters (gross extraction), of which 5.775 billion cubic meters was delivered to the market, while the rest was used for technological consumption.

Electrica SA had announced that buy offers for over 800,000 MWh would be placed on the Centralized Market for Bilateral Contracts (PCCB) managed by OPCOM yesterday.

Daily imports of 4.7 million c.m. to be covered from domestic supplies l Thermal power plants to switch to crude oil and coal

"Nuclearelectrica" is ready and operating at full nominal power, being able to supply the necessary electrical power needed to compensate for the lack of natural gas.

The insurance sector will remain one of the most dynamic in Romania, in the coming years as well, even though the current economic status could cause a slowdown of revenues from insurance premiums, which is what we were expecting for 2009 anyway,...

The oil priced reached a five-week high yesterday after Kuwait and Quatar said they would reduce production as per the OPEC announcement, as well as in relation to the gas war between Russia and Ukraine.

Israeli forces continued their attacks on in the Gaza Strip, yesterday, by air, as well as by land and by sea.

Thermo-power plant CET Vest - Bucharest will begin commercial operation this month, after having passed technical tests in September last year, according to Irina Duica, Commercial Director of Electrocentrale - Bucharest (ELCEN).

The new government has celebrated the end of 2008 with Emergency Ordnances, with one of the steps consisting in the increase of the social security contributions under normal work conditions to 28%, starting 2009, compared to the value of 27,5%...

The National Consumer Protection Authority (ANPC) has started a countrywide campaign to verify whether bars and restaurants are in compliance with the provisions of the law to prevent and counter the effects of tobacco consumption.

U.S. President-Elect Barack Obama is planning to include some 300 billion USD in tax cuts in his plan to stimulate the U.S. economy, which he is planning to discuss with the House and the Senate, international media informed.

Corporate earnings will continue to collapse in H1, 2009, following the recession that simultaneously hit the U.S., Europe and Japan. According to Bloomberg, the U.S. companies included in the Standard & Poor"s 500 index will see their...

Sales of newly built homes in Bucharest halved in 2008 compared to 2007.

2008 was a good year for "Coty" Romania.

The law of holiday tickets and the stimulation of travel outside the holiday season will be the main points on the list of discussions between ANAT and the Minister of Tourism, Elena Udrea, in a meeting to be held this week, stated for NewsIn,...

As part of the PHARE CBC/INTERREG IIIA Romania-Hungary 2006 Program, The Arad County Council has initiated the implementation of the Project "Rehabilitation of the DJ 792C Highway sector between Curtici - and the intersection with DN79,...

The City Hall of Iaşi, has ruled, due to the lack of bidders, the increase of the amount initially allocated for the feasibility studies and the technical projects for the construction of five tunnels. The tunnels will help clear the traffic in...

The "Traian Vuia" International Airport in Timisoara has started the new year by initiating three lawsuits to recover debts of 150,000 EUR from three low-cost airlines.

The Board of Oltchim - Ramnicu Valcea (BVB:OLT) late last year approved the acquisition of the petrochemical division of Arpechim, according to an announcement to the Bucharest Stock Exchange (BVB).

Commercial space and office space that has been already built or is very close to completion would be a less risky property investment, according to the real estate agency EuroMetropola.

The chemical plant Doljchim is preparing for shutdown, according to General Manager Dumitru Ungureanu, quoted by Agerpres.

Gral Medical a provider of private medical services, has prepared a development strategy focused on niche services.

Romanian winemaker Cotnari SA is planning to modernize their vineyards with EU funds and has presented the Agency for Payments for Rural Development and Fisheries - Iasi County with a 2 million EUR project for the procurement of several pieces of...

Israeli-based Aura Investments and Plaza Center have unveiled plans to build approximately 1,500 luxury apartments in Romania"s ski resort Poiana Brasov for a total of 180 million EUR.

Bella Romania, a member of the Polish group TZMO Capital, was established in 1997 and has evolved constantly, to an estimated Y2008 turnover of 20 million EUR, up by 25% from 2007.

The Iasi City Hall and the Iasi Environment Agency have prepared a "Air Quality Management Programme for The Iasi Metropolitan Area" in a bid to reduce air pollution in the city.

One of the most interesting stories about Romania"s economy, with a promising start and a plot that promises a grim ending, comes from the animal farming sector.

In order to emphasize the outstanding role of the central bank (the National Bank of Romania - BNR, in Romania"s case) within the banking system of a country, it is said that one of its role is to act as "the bank of banks."

An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever.

Koto Jozsef was sworn in as a Member of Parliament on Friday, about the same time as the Bucharest Court of Appeal was annulling his election to this office.