English Section

To start with, let us first clarify the confusion that CNVM was so careful to create around the punitive nature of their decision.

Auditors of the National Securities Commission (CNVM) have established that another branch of Broker-Cluj has been conducted some of the undesirable practices previously identified at the Deva branch.

Minister of Transportation, Radu Berceanu, has begun negotiations in January, with high Bechtel officials, the American contractor working on building the Transilvania highway.

Romania, Britain, Poland, Spain and France are on top of the list of E.U. Members forced to shut down coal-fired power plants by 2015 in order to comply with pollution thresholds, according to information published by the European Commission on...

We keep hearing lately with an increasing frequency comments on the solvency ratio of Romanian banks. Even representatives of the National Bank of Romania (Romania"s central bank) said that the solvency ratio of the domestic banks is very...

The economic crisis cut the merchandise traffic 70% in harbors on the Danube, which caused the representatives of the Harbor Administration of the Sea and Danube (APDM) Galaţi to lower estimates on fees and commissions levied from harbor...

Aurelian Gas & Oil Plc. (U.K.) late last week announced the discovery of significant natural gas resources following tests performed at the Lilieci 1 exploration well in Romania. The tests showed that the well had a substantial commercial...

The State Asset Recovery Authority (AVAS) holds receivables of over 4,000 billion lei, 14.11 million EUR and 274.21 million USD on 73,096 debtors, according to the report presented by AVAS President Mircea Ursache yesterday.

Austrian-based Erste Bank (EBS), the majority shareholder in Banca Comerciala Romana (BCR) has released preliminary results indicating a 19% increase in the operating profit for 2008 to 3 billion EUR and net earnings of 860 million EUR, down by...

The two key people in the "Sterling" affair, former Prime Minister Călin Popescu Tăriceanu, and current State Secretary within the Ministry of the Environment, Doru Laurian Bădulescu, deny any involvement in the recent scandal concerning...

Mircea Ursache, the chairman of the Authority for State Assets Recovery announced yesterday, that he wants to create a financial investment company (SIF) which would manage the 376 minority stakes that AVAS holds in various companies in its...

The turnover of construction works increased in 2008 by 26% YOY.

Nicolae Cinteza, Director of the Supervision Directorate of the National Bank of Romania (BNR), told BURSA that the proposals made by commercial banks with a view to reviving lending are being discussed, but not all of them are opportune.

Vicepresident of the Senate, Dan Voiculescu, recently made some optimistic estimates about the duration of the economic crisis which has begun affecting Romania.

The electric energy resources reached 65,556.8 million kWh last year, up by 3,732.2 million kWh (+6%) from 2007.

National gas carrier "Transgaz" will begin negotiations with the Bulgarian authorities in order to build an interconnection pipeline, Ioan Rusu, general manager of Transgaz, said.

80 people filed complaints against the former manager of the Deva branch of brokerage firm "Broker Cluj", Adriana Constantin.

The MPs have not received the draft State Budget 2009, although today was the last day for submitting potential amendments.

Brokerage firms will pay fees to the National Securities Commission (CNVM) depending on their actual operations and not for all the services for which they have been licensed.

Financing of the budget deficit from domestic sources must be made at a reasonable cost and with a degree of fluency, Mugur Isărescu, the Governor of the National Bank of Romania explained yesterday.

The IAR Platform of Ghimbav, seems to be seriously hurt by the financial crisis, as well as by the lack of strategic vision of the Government.

Representatives of several business associations have asked the Ministry of Labour to urgently prepare a set of measures to counter the effects of the economic crisis on the labour market.

In the broader context of the economic crisis, business associations and trade unions are asking the Government to redefine the concept of social dialogue, especially at county level where substantial funding is expected this year.

National energy market regulator ANRE late last year created a standard contract for the energy traded on centralized markets managed by OPCOM.

The Chairman of the Chamber of Deputies, Roberta Anastase, said, on Friday, that a possible wage freeze for members of the Parliament would be natural, given the fact that a similar measure was taken for all other public servants.

Statistics have never looked so grim for the developed economies. The industrial output of Germany and Japan is dropping at unbelievable speed, as foreign demand is vanishing.

The economies of developed countries are already in a depression, and the financial crisis could worsen, if the banking system doesn"t recover, according to a statement made by the Head of the IMF, Dominique Strauss-Kahn.

National Liberal Party (PNL) Senator, Puiu Haşotti, announced Friday, at a press conference, that the Liberal party should also take into consideration the possibility of supporting a single candidate appointed by an alliance of the opposition...

Construction works on the office building Euro Tower reached the maximum designed height of 80 meters last week, when the metal structure of the building was completed.

Romanian Commercial Bank (BCR) offers a free support line for (Telverde) to corporate customers using its MultiCash and e-BCR+ products, according to a press release issued by the bank.

The Arad Municipality has decided to bring several historical buildings in the city to their full tourism potential by restoring them and giving them a "Viennese look."

The Ministry of Agriculture will increase the budget for agricultural production loans by 50% this year, according to a Ministry document sent to BURSA upon request.

Furniture retailer Staer International announced it would open a new store in Braşov on February 12th.

After exceeding the 3% budget deficit threshold this year, Romania could fall under the excessive deficit procedure, together with other countries in the European Union.

Already hit hard by the economic crisis, the metallurgical industry has received another blow, but this time from the State.

The Iaşi City Hal will make acquisitions worth 11 million lei in the near future, as part of the European program Archimedes, which wants to promote and introduce some steps for durable, clean and economical urban transportation, as well as the...

Representatives of the Ministry of Small and Medium Enterprises, Commerce and Business Environment (MIMMCMA), Constantin Niţă and Maria Pârcălăbescu, signed, on Friday, the first 22 financing contracts backed by European funding.

Plastic products maker RPC Group Plc announced that it wants to sell its satellite businesses in Romania and Poland, as well its distribution businesses in Germany, given shrinking market demand, according to Reuters.

The project for the construction of a high speed road between Timişoara and Szeged was discussed during a meeting between the representatives of the County Councils of Timiş and Csongrad.

The amazing rate at which the price of oil and gas increased during 2007 and 2008 earned domestic gas producers "Romgaz" and "Petrom" tidy profits.

Senate Speaker Mircea Geoana said yesterday in Cluj that the Romanian Government had the obligation to immediately check a concession of the rights to exploit hydrocarbon deposits on the continental shelf of the Black Sea signed on 12 November 2008.

The National Bank took the first step towards a policy of relaxation of the monetary policy by opting to cut the benchmark interest rate by 0,25 percentage points.