English Section

The new management of Romanian-based natural gas producer Romgaz believes that the difficult economic context and the lack of liquidities will not have a major impact on the company.

A possible loan from the International Monetary Fund will be used to increase the foreign exchange reserve of the National Bank in order to protect the foreign balance, and not to finance the budget deficit, National Bank of Romania (BNR) Chief...

The depreciation of the leu in the beginning of the year had a bigger impact on February"s inflation than analysts anticipated, as it reached 6.98%, up 0.88% MOM.

The management of financial investment firm SIF Moldova announced yesterday that an emergency meeting of the Board of Directors had been called to discuss the potential consequences of the approval by the Ministry of Finance of a draft bill...

Minority shareholder of "Corint" Târgovişte (listed with the symbol CONY on Rasdaq), Mr. Rădescu Emilian, yesterday won the trial that demanded that the majority shareholder make a public takeover offer, as it now holds more than 33% in...

2.5 million Euros will be credited to the account of CET (Thermal Electrical Plant) Iaşi, coming from the loan taken out from the European Bank for Reconstruction and Development (EBRD), intended for the modernization of Iaşi"s heating system.

Romanian authorities have notified the European Commission their intention to access medium term foreign funding, according to a communiqué by the Ministry of Public Finance (MFP).

The International Monetary Fund would be about to lend Romania approximately 20 billion EUR with talks between the Romanian authorities and Fund officials to be resumed today, according to the Financial Times, which quoted an official involved in...

The Regional Development Agency (ADR) - West yesterday announced the conclusion of 16 financing contracts totalling 1.6 million EUR to support the regional and local business environment and to stimulate the development of micro-enterprises.

The law of mandatory insurance will become operational on July 1st, as initially scheduled, and right now the Insurance Supervision Commission (CSA) is working on preparing the norms it is expected to elaborate, CSA chairman Angela Toncescu...

The IMF apologized for not having foreseen the world financial crisis.

The German-based PCC SE, the leading minority shareholder in the Romanian-based petrochemical plant Oltchim S.A., has asked the European Commission for an investigation into the controversial case of Oltchim"s debt-for-shares swap, a PCC...

President Traian Basescu addressed the Parliament plenum yesterday on current affairs of the State in the broader context of the economic and financial crisis.

The economic and financial circumstances in the United States show that optimism and positive attitude are not enough to turn a crisis into a new success story.

The bank accounts of "Electroputere" Craiova (stock symbol: EPT) could be frozen, at the request of the Craiova Tax Department, if the company doesn"t pay, by the end of this month, a one million Euros installment, of the three...

The Governor of the National Bank of Romania, Mugur Isărescu, said on Friday, while in Braşov, at the conferences of the Romanian Banking Institute, that he was extremely optimistic on the chances of our country to see economic growth this year,...

"NewYorker", the German youth fashion brand, yesterday opened its sixth Romanian store.

The latest alarming rumor on the real estate market concerns the foreclosures of homes bought using mortgages.

Following the international financial crisis and the problems facing some of the largest banking groups in the world, governments have started to massively buy shares into the financial giants to prevent them from falling.

Acţiunile tranzacţionate la bursele din Europa s-au înscris pe un curs descendent ieri, după ce, la finele săptămânii trecute, guvernul britanic a preluat controlul la "Lloyds Banking Group" Plc.

The mayoralty of Bucharest"s District 3 yesterday announced, that it has received requests from 168 homeowner associations (approximately 14167 apartments), for the documentation needed for registration in the thermal remodeling program.

The price drops seen on the real estate market lately affect the current market value of buildings that companies include in their real estate evaluation report, "Media City" realtors say. Companies can benefit from the price drops on the...

After almost three years of struggle, after 13 years of trials, after the involvement of the European Parliament, of the Romanian Senate and with the support of Pope Benedict the XVIth, the historical monument Sfântul Iosif Cathedral is only two...

A new scandal burst out on the energy market last week as Adrian Gurzau, Vice Chairman of the Abuse, Corruption and Petitions Committee of the Chamber of Deputies, claims that natural gas bills are 25% inflated due to a legal scheme sanctioned by...

Mining has taken a heavy toll on the Gorj County environment for many decades, making it into one of the most severely affected parts of the country.

The purchasing department of many great companies, is undervalued and underappreciated, even though it could play a crucial part during these times of crisis, if it were better integrated in the market strategy of companies, according to a KPMG...

The amount of milk collected by milk processing units dropped 4269 tons (-5.1%), in January 2009 month-over-month December 2008. According to the National Statistics Institute, (INS), the biggest output contraction in the month of January 2009,...

Officials of "AdePlast", a producer of construction materials for finishes, estimate that in 2009, their turnover could go up to as much as 30-40%, as they are betting first and foremost on the success of the new adhesive factory in...

The economic crisis is not affecting everybody, however certain segments and industries don"t seem to be significantly affected in the current financial context. One such example is the IT security market, which is considered as one of the...

The Brasov Tourism Promotion & Development Association (APDT) and the Sustainable Development Agency (ADDJBv) have presented the slogan created to promote the city of Brasov at the International Tourism Fair Berlin (ITB) to be held on 11-14...

The State will consider taking action against those who deliberately do not pay their loans in order to determine them to do so, as overdue payments towards bank loans have surged lately, President Traian Basescu said.

Talks about the financial crisis seen from a broader perspective that tends to zoom out from our domestic problems could make us forget the issues which are specific to Romania as far as the impact of the crisis is concerned, National Bank...

When Ukrainian special services raided State-owned natural gas corporation Naftogaz on Wednesday, one of the objectives was to investigate a quantity of gas bound for Romania, Hungary and Poland and allegedly taken by Naftogaz from the private...

Four almost four months now, the real estate market of Timi oara has been frozen.

The Ukrainian Parliament yesterday dismissed Foreign Minister Volodymyr Ohryzko on the count that Ukrainian diplomatic efforts during the lawsuit filed by Romania for the delimitation of the continental shelf of the Black Sea and exclusive...

If someone imagined that the financial support promised to farmers to enable them to buy chemical fertilizers would solve right away both the problem of chemical fertilizers plants that have no orders and the problem of Romania"s...

The management of "Ves" Sighişoara (stock symbol: VESY) suggests a 0,0030 lei/share dividend for 2008, according to the notice to attend the General Shareholder"s assembly which will be held in the beginning of April.

The financial crisis isn"t affecting the direct sales market anywhere near as badly as other economic sectors.

Shares of electronics and household appliances retailer "Flamingo International" Bucureşti, traded on the Bucharest Stock Exchange with the symbol FLA, brought the highest yield to investors, representing the best investment on the market...

Cushman & Wakefield put Bucharest on the 37th place on a list of the most expensive office locations in the world, while London lost the title of the most expensive office location in the world after nine consecutive years. The Cushman &...

Customers to the BCR Pension Fund are now able to check their account status through a web interface. "The site creates a first contact between us and Fund customers, potential customers and marketing agencies," said Simona Ditescu, CEO...

The Retail Department of "Colliers International" made a study of the sales generated in Bucharest malls which have been operating for at least six months. The study was focused on fashion shops. It shows that "Unirea Shopping...

The leader of former employees of "Nicolina" Iaşi, Gheorghe Păduraru, said that the company of Iaşi resuming its operations is not entirely out of the question.

The first quarter of 2009 is almost past, while the efficiency of the governments" crisis solutions is yet to be witnessed.

The vice-governor of the NBR - Cristian Popa and the secretary of state of the Ministry of Public Finances (MFP) - Bogdan Drăgoi, are in Washington these days to have preliminary talks for a foreign loan from the IMF, Mugur Şteţ, spokesperson of...