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E.ON Romania has acknowledged the decision of ANRE (the energy market regulator) to cut the price of natural gas by 3% starting May 1st 2009, and it is currently analyzing in detail the effects that the decision will have on natural gas operators.

Uniqa Asigurari estimates to close the year with an overall subscribed gross premium value of nearly 580 million RON, up by 15% from 2008, and a profit of up to 3 million EUR, according to Chairperson of the Board Ileana Horvath, who made the...

The management of "Rodipet" has asked AVAS (the Authority for State Assets Recovery), to stop its post-privatization surveillance of the company alleging the majority shareholder of the company, "Magnar Two" SRL, carried out all...

Representatives of the National Bank of Romania (BNR) and economic analysts do not support the idea that Romania should adopt the European currency faster in order to avoid exchange rate risks.

The aerated autoclaved concrete (ACC) market will not decline by more than 5% this year, despite the significant recession affecting the construction industry because of the lack of public and private financing for new investments.

Erste Group"s net profit for Q1 2009 after minorities was EUR 232.1 million, down 26.5% YOY, due to a 126% increase in provisions for non-performing loans.

The National Securities Commission (CNVM) has denied the request filed by the shareholders in financial investment firm (SIF) Transilvania (SIF3) to increase the holding threshold from the 1% of the share capital stipulated in the Capital Market...

"BIO Markt Retail Group" of Timi oara yesterday announced in a press conference, that they have taken over the operations of one of the main Romanian organic foodstuffs producers, - "Natura Land", thus forming the largest importer...

The last plots of land of "Nectar" SA Paşcani were put up for sale for the second time.

The National Authority for the Protection of Consumers (ANPC) has launched an investigation of commercial banks to check for compliance with European Union regulations on payments made in Euros to other countries, following the request received...

The Tourism Ministry has allocated different budgets for financing projects of the local public administrations, including several projects to be implemented in Brasov County, according to Tourism Minister Elena Udrea.

"None" of the 5 billion EUR loan that Romania is going to receive from the European Commission will be used to finance salaries or pensions, but only the budget deficit, Finance Minister Gheorghe Pogea said yesterday.

While visiting Croatia yesterday, President Traian Basescu said it was a mistake to ask for salary raises in Romania which "did not do too well in the first three months of the year

Sterling Resources has invested over USD 65 million in the perimeters of the Black Sea and Sud Craiova, dug five wells on land and at sea, and acquired over 4000 seismic profiles, said Stephen Birrell, general manager of Sterling yesterday, as...

Animal farmers can submit applications for the complementary national direct payments (CNDP) in the animal farming sector.

The chairman and founder of the Conservative party, Dan Voiculescu, warns that the Government has yet to come up with a plan to mitigate the effects of unemployment.

The Brasov Local Council meeting held on Monday evening turned into a public debate on the need to have an international airport in the city.

The chairman of the National Liberal Party, Crin Antonescu, yesterday said, during the debates in the Parliament on the revision of the budget, that the current government is a source of chaos and is compounding the effects of the world crisis in...

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.