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A luxury resort will be created in the Tărlungeni commune, near the Dălghiu area in the Ciucaş mountains. The project was initially announced in 2007.

The European Commission has received no application for subsidies for chemical fertilizers from the Romanian authorities, according to an official EC document in our possession.

"Alveus" Romania is the Romanian branch of Kovinoplastika Loz from Slovenia, a maker of kitchen sinks, plumbing fixtures and household appliances.

World Bank representatives have verified the proper execution of the loan agreement for the project regarding the rehabilitation of major deficiencies in the sewerage system of Arad City.

Romania"s Central Bank yesterday performed a new REPO operation injecting 1.69 billion lei in the inter-bank market, in government bonds with 1-month maturity, with a 10% annual interest rate.

The Finance Ministry has decided to finance and re-finance the public debt by issuing 6 billion RON in bonds next month

Banks operating in Romania have become increasingly cautious and convinced that it is better to ensure the liquidities necessary for the minimum mandatory reserves required by the National Bank of Romania (BNR) as soon as each new reserve...

The finance minister of G7 (the group of seven industrialized nations) predict a "slight economic recovery" in the coming months, as there are signs that the worst of the recession has passed

Interview with Adrian Popa, Area Head of Corporate & Regulatory Affairs, "British American Tobacco" South Eastern Europe Area

While public pension systems are facing sustainability problems due to demographic factors (aging of the population) and are affected by the crisis, as unemployment is rising, some governments, pushed by immediate budget concerns, are writing off...

Romania did not know how or perhaps it did not want to profit from the opportunity of the 90s crisis to restructure its economy

As the number of customers to the privately managed mandatory pension funds (Pillar II) having empty accounts has increased in the last few months, it becomes clear that some employers can no longer pay the monthly contribution, as a result of...

Romanian banks are getting increasingly cautious, and they feel it is best to secure the liquidity needed for creating the minimum mandatory reserve, required by the National Bank of Romania, as soon as each new period for setting up the...

Romanian carmaker Dacia will produce an additional 140 cars/day, going from 1200 to 1340 vehicles a day, starting on June 15th, following the adoption by several European countries (including Romania) of programs for the revival of the automotive...

Kraft Foods Romania has notified the Brasov County Employment Agency of their decision to postpone the first wave of layoffs from their factory in Brasov until June to give more time to ongoing negotiations with a Brasov-based manufacturer of...

The "Bog`Art" group estimates a EUR 140 million turnover for 2009, with EUR 110 million to come from its construction business, according to the statements of Mr. Raul Doicescu, the company"s chairman.

The increase of the minimum excise for cigarettes, that "Philip Morris" is backing, would only affect one player on the market, whereas the State budget would benefit from this decision, says Peter Imre, Corporate Affairs Director for...

The 8th Edition of the construction fair Camex is taking place in the Sports Hall of Brasov City on 23-26 April, gathering approximately 90 companies from the construction industry.

MPs of the PNL, UDMR and PSD left the Parliament session upon the vote on the bill endorsing Government Emergency Ordinance no. 41/2007 regulating the transfer of 200 hectares from State property and the administration of the National Research -...

While in Medias yesterday, Economy Minister Adriean Videanu said he was planning to propose to license Romgaz to explore the Black Sea perimeters which Romania had won in the Hague.

The Public Administration Committee of the Senate yesterday passed the Government ordinance on the rectification of the State Budget.

The Ministry of Health will continue the programme of building 15 new hospitals across the country, respectively 8 regional hospitals and 7 emergency hospitals, based on a financing agreement with the World Bank.

Companies that have up to 40 rooms available for accommodation will be exempt from the payment of revenue or profit tax for a period of ten years, and will have their VAT quota lowered by as much as 9%, according to a law intended to stimulate...

After all the employees of ArcelorMittal Galaţi were forced to take turns going on forced holiday leave for 10 days, the management of the Galaţi plant has decided to take similar steps again, starting April 21st.

"Practically, all of our company"s products will be re-launched under new formulas, new packaging and new concepts."

Losses caused by bad loans and securitized assets could reach 4.1 trillion USD by the end of 2010 as the recession and the lending crisis have put increasing pressure on financial institutions, according to the International Monetary Fund"s...

On a rental market that has reached a two-year low, two categories of commercial space were very profitable in the first quarter of 2009, keeping the average from collapsing: commercial centres that include hypermarkets and, respectively,...

Finnish company Tornator, specializing in the exploitation of forestland, has opened a Romanian branch in Braşov.

The leu has lost around 13.5% against the Euro since July 1st, 2008 and around 30% since July 1st, 2007.

BURSA: How will the economic crisis influence Irish investments in Romania, in your opinion? Or Romanian investments in Ireland?

The Arad Intra-Community Development Association is planning to attract investments of some 139 million EUR in water distribution and sewerage infrastructure until 2013.

The American financial market is experiencing the emotion of the financial reports for the first quarter of 2009.

Every Easter brings sales to a peak for almost all categories of commodities.

The Brasov City Hall hosted the ceremonial sign-off of the contract for the organization of the European Youth Olympic Festival - The 11th Winter Edition, 2013, by six communities in Prahova Valley and Brasov County.

While visiting Beirut, President Traian Basescu said that some of the money borrowed from the International Monetary Fund could be exceptionally used to balance small pensions and salaries if the economic and financial crisis worsened. During a...

Sales of Urgo products have seen a constant growth in the last five years.

The Ministry of Transports and Infrastructure (MTI) will enter an agreement with Raiffeisen Bank by the end of this month to attract funding needed for investments in infrastructure, officials from the Ministry said on Friday, as quoted by NewsIn.

The Lower Chamber of Parliament yesterday cast 172 pros, 4 cons and 6 abstentions on a motion to appoint a panel to investigate the Sterling Case.

The thermo-electric power plant (CET) Iasi has announced plans to organize an open tender followed by a round of pricing negotiations to procure 200,000 tonnes of energy-bearing pit coal for the 2009-2010 cold season.

The Government has received confirmation that the official letter from the IMF regarding the loan agreement with Romania will arrive between 14 and 20 April.

Car battery maker "Rombat""s profit for Q1 2009 passed the EUR 2 million mark.

Prime minister Emil Boc requested that members of the government begin an investigation of wheat exporters which are suspected of tax evasion, government sources stated for "BURSA".

Overall investments made by Holcim Romania until the end of 2008 amounted to 660 million EUR, including 150 million EUR invested in 2008.