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Finconta Consulting SPRL - Bucharest, the third liquidator of Tractorul UTB SA, has been relieved of their duties in this capacity by the bankruptcy judge of the Brasov County Court.

Businessman Cătălin Chelu sees the Bucharest Stock Exchange making a recovery in about six - seven months and, implicitly, big gains for those who are buying now to invest long term.

CET - Iasi, a heating plant in the Moldavian city of Iasi, has managed to sell some 350,000 greenhouse gas emission certificates on the London Exchange to several foreign companies whose overall emissions have exceeded the limit imposed by the...

UGIR 1903"s proposal for the creation of a national public works company which would use laid-off workers exclusively (editor"s note: an initiative that is also supported by social partner CNS Cartel ALFA) seems to have received a...

The current leaders of the Ministry of the Economy, of the PDL party, have decided to disband the National Energy Company (CEN), through another emergency decree, just as it was created at the time by the former leadership of the PNL party and by...

Ford România will increase its share capital by 250 million Euros, after having received the approval of the Board of Administration Automobile Craiova (ACSA) yesterday, representatives of Ford Ro­mania confirmed.

Cosmetics maker "Farmec Cluj-Napoca" announced a turnover of 24,5 million Euros for the year 2008. Mariana Sinitaru, marketing specialist, said: "Preliminary results for 2008 indicate a turnover of 24,5 million Euros at the end of...

"Apa Nova" Bucharest has scheduled investments amounting to 86 million lei for this year.

Gabriel Oprea"s former business connections could explain most of the scandal which erupted within PSD and has led to Oprea"s removal from his office as Minister of Interior only three weeks after his appointment.

It is imperative that the pollution tax keep its current form, representatives of the Association of Car Producers and Importers (APIA) stated during a press conference which was held yesterday, dealing with the "disturbing" situation of...

The dizzying fluctuation of the leu-euro exchange rate has led to a change in the way rental contracts are negotiated, both by corporate and natural person tenants.

The capital market regulator has suspended the continual issuance and redemption of share in the open-end investment funds "Europa Obligatiuni" and "Stabilo" managed by Pioneer Asset Management to allow the merger of the two...

The number of passengers that Lufthansa carried to and from Romania grew by 10% in 2008, to over 550.000, according to a press release by the company. Internationally, Lufthansa together with Swiss has carried over 70 million passengers, up 12,2...

The President of the Democratic Union of Hungarians of Romania (UDMR), Marko Bela, considers that the Government should make it its priority to elaborate the new state budget, so as to allow its validation by the Parliament in an extraordinary...

The Romanian Railway Company (CFR) rehabilitated only 31 kilometres of railway tracks in 2008, within the budget allocation of a mere 80 million RON. Romania"s overall railway network measures 10,820 kilometres, that is, 20,000 linear kilometres.

Drug distributors are currently using the inventory purchased in November, after they recalculated the price of drugs, as companies would incur great losses due to the significant depreciation of the leu against the Euro, distributors claim.

Romanian milk producers are ready to stage unprecedented protests as they claim that some 200 million EUR worth of subsidies is overdue since 2008.

These days I"ve realized that we"ve moved to a different plane of existence, which I would summarize as "the vegetable garden."

Expanding water and sewerage networks, rehabilitating roads, building kindergartens and schools are just some of the investment projects unveiled by mayors of Arad County cities, who claim that they are not affected by the financial crisis, but...

Economic processes nowadays are characterized more than ever before by rapid development and instability, the latter of which being the result of the risks entailed by any economic activity.

The year 2008 has placed OPCOM (the operator of the Romanian energy exchange) on the top position in Eastern Europe according to liquidity on the Day Ahead Market (PZU), which registered a quota of almost 10% of the total net consumption estimated.

In December 2008, China"s exports saw the biggest drop in the last ten years, as a result of the drop in demand, amid the economic world crisis.

Russian officials of state company Gazprom have announced yesterday that Romania"s involvement in the South Stream pipeline project remains uncertain.

Several ministries have set up working groups with the unions and the employers" association to create a crisis management plan.

The decision of Dacia"s management to halt production for two weeks, between January 26th and February 8th, comes as a result of the auto market drop, in particular that of the Romanian market.

The world economic crisis gets is affecting the market of luxury goods in Romania, with experts expecting a 25% drop in sales for the year 2009.

The Romanian Commodities Exchange (BRM) announced yesterday that the company "Vitol" SA has announced the sale of heating oil and coal, with delivery terms in the months of January and February. The coal floor lists two orders for the...

With the leu reaching a new historical low every day, some analysts believe that the root cause is the budget deficit, which exceeded 5% of the gross domestic product in 2008, calculated by European standards. Mihai Tanasescu, Romania"s...

The U.S. President-Elect gave another warning last week trying to expedite the adoption of his rescue plan for the U.S. economy.

The strong appreciation of the euro against the leu is not affecting the price of electricity and natural gas.

Mechel Târgovişte has resumed its operations, after having halted its activity for the winter holidays, on December 25th, when its employees entered technical unemployment.

The overall volume of construction works grew 26.9% in the first nine months of 2008 compared to the corresponding period of 2007.

Unemployment in the United States saw a significant increase in December 2008, with last year being the worst for the American labor market since the end of WWII.

Companies with less than 250 employees, a turnover of less than 50 million euros and earnings below 43 million euros can access the credit facility for SMEs of the European Investment Bank (BEI), with funding terms to be negotiated individually,...

The new chairman of the Higher Council of Magistrates (CSM), Virgil Andreieş, stated on Friday, during a press conference, that attorneys have to escape the supervision of the Ministry of Justice in order to be independent.

Reinert Romania, which operates a charcuterie factory in Feldioara, has new management as the former CEO, Ovidiu Bocaniciu, resigned as of 1 January. Reinert Group South Eastern Europe Director Liviu Parjolescu has taken over this responsibility,...

The Romanian retail market grew 6.8% in November 2008 compared to November 2007, placing first in the EU for the six consecutive month, according to Eurostat data released on Friday.

Prime minister Emil Boc announced on Friday, after the Government"s meeting, that the latter will maintain its stance on the decree which restricts the pensioners working in the public sector from receiving both pensions and salaries.

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

The losses incurred by the Palestinians as a result of the Israeli military offensive in the Gaza Strip represents a national disaster, reminiscent of the Independence War of 1948 -1949, claims Palestinian prime minister Salam Fayyad.

Dacia remains the leading carmaker on the Romanian market, despite a 17% year-on-year decrease in sales in 2008. At global level, despite the crisis taking a serious toll on the entire industry, Dacia managed to achieve an 11.7% sales growth to...

Vladimir Putin stated last weekend, that he has nothing against the development of a direct relationship between Russian and Romanian state-owned energy companies, and the elimination of interims.

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.