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Over 1900 citizens of Arad will lose their jobs between March and May, according to notifications by the County Employment Agency (AJOFM).

Romanian company "Brinel", one of the main domestic providers of IT solutions, saw a 15% turnover increase at the end of 2008, exceeding 105 million lei (around 28 million Euros) for the entire group.

The new management of the state owned energy producer "Complexul Energetic Turceni" proposes year an investment budget of around 593 million lei (around 138 million Euros) for 2009.

The chemical fertilizers market is no longer asking politicians for support, as politicians themselves are involved in business on the fertilizers market.

Between 26-27 February 2009, over 325000 Euros worth of Euro 5 Diesel oil and Fuel Oil were traded on the Cash Market of the Romanian Commodities Exchange (BRM), on the Oil Products Floor.

Fondul Proprietatea concluded last year with losses of 3.41 billion RON, according to a preliminary, unaudited report.

The Ministry of Transports and Infrastructure will hold an auction in three months for the modernization of the Northern Railway Station, Constantin Axinia, undersecretary of State in the Ministry of Transportation, announced yesterday.

The chairman of the Înfrăţirea Federation of Unions in the Metallurgy industry, Ovidiu Cioroianu, yesterday issued a press release expressing a joint opinion of the professional associations and unions concerning the situation of the machinery...

The global economic crisis is the most ardently debated topic on all continents.

Transportation Minister Radu Berceanu yesterday announced that he had completed negotiations with Bechtel and that the U.S.-based contractor would receive 440 million EUR in 2009 to continue construction works on Transylvania Highway.

The number of housing units finished in Bucharest last year is close to 3,000 according to Alexandru Petrescu, the Managing Director of the real estate agency Esop.

The latest "scam" is entrusting the security of Cişmigiu and Tineretului parks to a company that only had one employee and 3 lei in revenues in December 2008.

When looking at the current exchange rate for the Euro or the dollar, we often wonder how much we would have won, had we been wise enough to buy foreign currencies one year ago.

Oltchim - Ramnicu Valcea, one of the leading players in the European chemical industry, is not for sale in the current context of global economic and financial crisis.

Shareholders in the Bucharest Stock Exchange (BSE) have decided by electronic vote to reduce the trading fees for both BSE and RASDAQ by 10%. BSE CEO Anca Dumitru stated: "BSE"s initiative to set a number of correlated criteria and...

The Romanian construction industry concluded last year with some 400,000 employees. However, the financial crisis and the subsequent drop in construction projects have caused a wave of job cuts in most construction companies. Laurentiu Plosceanu,...

The Bucharest City Hall will have to pay some 30 million EUR in penalties to Astaldi (Italy) & FCC (Spain), the contractor for the Basarab Bridge construction project, according to Deputy Mayor of Bucharest Mircea Raicu.

Representatives of the central banks of Romania, Hungary, the Czech Republic and Poland organized simultaneous press conferences yesterday on the topic of foreign exchange markets in Central and Eastern Europe reacting upon the depreciation of...

Construction works on Romanian highways are advancing at snail speed, judging by the information recently made available by the Romanian National Highway and National Road Company (CNADNR).

A possible loan from the IMF would be used to protect the foreign currency reserves, not to fund the economy, NBR governor Mugur Isărescu, announced yesterday.

The Swedish Government is not prepared to consider issuing loan guarantees to local carmaker Saab, a unit of the U.S.-based General Motors Corp. unless the company finds a private investor to support their business plan. Swedish Industry Minister...

New member states of the European Union should focus on cutting public spending, as they can"t afford fiscal stimulus packages, Erika Jorgensen, an economist with the World Bank, said, while presenting a recent report on the last ten...

National Liberal Party (PNL) President Calin Popescu Tariceanu yesterday announced at the end of the Central Political Bureau meeting that the party would not file any contestation with the Constitutional Court against the State Budget Law...

The Ministry of Economy is planning to privatize or concede the national network for the transportation of oil by-products (gasoline, diesel or light liquid fuel) if any company appears interested in taking over 1,850 kilometres of pipes, which...

Alpha Bank România is launching a campaign targeted at homeowner associations, by offering a package which includes a current account with deposit-like interest rate and other ancillary facilities, according to a press release issued by the bank.

Staer International launched its second store in Braşov in the Cometex commercial complex.

14 mayoralties, the Timi County Council şi and the Mayoralty of Timişoara have signed an agreement to create the Association for Intercommunity Development - Timişoara Growth Pole, by which the Authorities are looking to attract European funding.

Bank Leumi Romania is launching the ,,Zefir" deposit, which offers a fixed yearly interest rate of 15% for lei and 6% for Euros for two-month deposits, according to a press release by the bank.

Gabriela Anghelache, chairman of the Romanian equity market regulator, was kind enough to provide us with a few answers on the status of the Rasdaq market and on the issues some listed companies are facing.

One of the most significant achievements of the Unirea Medical Centre Co. (CMU) was the opening of the Regina Maria Obstetrics and Gynaecology Hospital at the end of 2008.

The Government has decided to reduce the car pollution tax by one third.

Future candidates to the EuroZone could face more thorough supervision than their forerunners, according to Valentin Lazea, Chief Economist of the National Bank of Romania (BNR), who addressed a seminar on the planned adoption of the euro.

Tension within the National Liberal Party (PNL) is mounting with each day that brings the party closer to the internal presidential elections, scheduled for the second half of March.

The government sector can borrow this year more than it needs to relieve the pressure generated by the funding gap at the non-governmental sector level, seeing as he expects capital inflows to be significantly lower than outflows, Mugur Isărescu,...

Trade unions representing social workers, including those specialized in children protection, yesterday announced that they were preparing to stage major protests to express their profound grief with the existing salary scheme.

Afraid of not being able to find solvent tenants as fast as possible, office building owners have significantly reduced their rents and have become much more flexible about lease terms.

EU monetary affairs commissioner, Joaquin Almunia, yesterday expressed his concern on the situation of banks in Central, Eastern and South-Eastern Europe, pointing to Romania as well as Ukraine, Croatia and Serbia.

Bank shares plunged almost 15% yesterday, dropping for the second day in a row, following the latest report by rating agency "Moody"s", who announced it might cut ratings for Eastern European subsidiaries of the big Western banking...

The Bucharest Court of Appeal rejected yesterday the appeal lodged by the General General Council of the City of Bucharest (CGMB) on the April 2008 ruling, by which the Court of Bucharest repealed the previous ruling which declared the Basarab...

Approximately 90% of the bankruptcies among small- and medium-sized enterprises were caused by State-ordered distraints, according to Constantin Nita, Minister for Small- and Medium-Sized Enterprises, Trade and Business, who told the information...

After a troubled year 2008, the BREI - the real estate index calculated by Colliers International for Bucharest residential property - has shyly stepped into the year 2009.

Prime Minister Emil Boc has signed the appointment of Ioan Nani, the former CEO of Antibiotice - Iasi, as Vice President of the State Assets Recovery Authority (AVAS).