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The 2009 Edition of the Romanian Fashion Week has been postponed for the Spring of 2010 because of the lack of funds for staging the event, the organizers announced.

The German-based Lidl & Schwarz Co. & KG, which also runs the Kaufland chain of supermarkets, has announced plans to invest some 5 million EUR in a commercial centre in Galati.

After several protests organized in Galaţi yielded no results, members of the "Solidaritatea" union picketed the headquarters of the Government and the Presidency.

Ceramica SA Ia i (CERE on the Bucharest Stock Exchange) posted a net profit of 551.571 in Q1 2009, four times lower YOY, down from 2,432,538 lei.

Luxury products help Arad County"s largest furniture company, IMAR, survive the crisis as rich customers from Italy and Russia prefer imports from Romania to more expensive products readily available on their home markets.

The leaders of the Romanian Association of Construction Entrepreneurs (ARACO) will continue to notify the entrepreneurs of the National Authority for Regulating and Overseeing Public Procurement (ANRMAP) whenever public auctions get knocked down...

Romanian investment project fail to raise support, because they lack a vision shared by the business environment and the banks who would support them, Constantin Boştină, the President of the Association for Studies and Social-Economic Forecasts,...

Over 2,400 companies headquartered in the western part of Romania filed for suspending their operations, while some 1,300 companies were dissolved in the first four months of the year, according to a presentation made by the Regional Federation...

Raiffeisen Bank Romania, one of the leading lenders on the local market, has not yet foreclosed on any customer unable to repay their loan and has not sold any receivable, said President Steven van Groningen in an exclusive interview to BURSA.

According to Social-Democratic leaders, the news that current president Traian Băsescu, would consider giving up running for a new presidential mandate in autumn this year, has zero credibility.

The global economy will start growing next year, according to John Lipsky, deputy director of the IMF.

If the draft law regulating vacation tickets becomes effective in the near future, thus bringing benefits to both employers and employees, domestic tourism will grow approximately 15% this year, according to Corina Martin, President of the...

The usage of European funding from the Regional Operational Programme (ROP) exceeds 33% in Centre Region.

Arad Electric Heating Plant (CET) will be split up into two separate companies, while keeping the same owners, in order to qualify for receiving EUR 20 million in European environmental grants.

The second segment of the Braşov beltway will be open for traffic within two months at the latest, the contractors said.

At Interop Las Vegas 2009, HP and Microsoft today announced a four-year strategic global initiative to deliver an end-to-end unified communications and collaboration solution.

The economic recession, an unavoidable phenomenon that the world economic crisis has only accelerated, has reached Romania as well.

According to the results of IMAS"s recent poll, regarding Romanian private medical service providers, Medlife grabbed the top spot when it comes to notoriety among Romanian consumers.

The ongoing economic crisis is also affecting the Romanian IT industry as sales have embarked on a notably downward trend compared to last year.

British pharmaceutical giant GlaxoSmithKline has announced plans to start producing AIDS medication in Brasov, Romania, in the second half of the year and begin exports in 2011.

The collapse of Romania"s exports this year has been substantially augmented by the inefficiency of the governmental and banking measures as the fall of the international markets is only a partial explanation for the failure, according to...

Dan Gabriel Iacob, CEO of Biosens: "The bio market in Romania will not suffer too much because of the crisis, because this is a niche market that develops independently from economic troubles.

The budgets of the energy companies controlled by the Ministry of Economy will be approved latest next week.

The negotiations between the union and the management of the company IAR Ghimbav concerning the reorganization plan are currently under way. The first numbers concerning the staff layoffs were announced on Wednesday.

Petru Prunea, the former chairman of "Broker" Cluj Napoca (BRK), presented his objections to the accusations of the National Securities Commission (CNVM), through an appeal filed with the commission in the beginning of this month.

The sale of the Romsilva lodges is probably one of the most controversial projects of the current Government.

Representatives of the German-based group PCC SE, a significant shareholder in chemical plant Oltchim - Ramnicu Valcea (BSE ticker OLT), believe that the plant"s intention to invest 486 million EUR in expanding the production capacity of...

Technical work on the proposed Nabucco cross-country gas pipeline is entering an "intensive phase," according to the pipeline consortium"s chief.

Braşov-based INAR SA last year posted 40,000 lei in profit, for a turnover of 1.1 million lei, and it has budgeted 1.4 million lei in turnover for this year, and 60,000 lei in profit, on top of investing around 150,000 lei in equipment.

Life insurer ING Asigurari de Viata concluded the first three months of the year with a gross profit of 31.3 million RON, up five-fold from the first quarter of 2008.

Gross subscribed premiums rose 17.5% YOY in Q1 2009, to 23.8 million lei.

The annual inflation rate dropped to 6.45% in April, down from 6,71% in March, in line with economists" and the Central Bank"s estimates, as a result of the cut in prices for services and a stagnation of foodstuffs prices, according to...

The Export - Import Bank of Romania EximBank S.A. and Emporiki Bank yesterday signed an agreement to facilitate the access of small- and medium-sized enterprises to financing, according to a press release.

Lufthansa has reported a slight decrease in the number of passengers transported in Q1 to a little over 15 million, down by 6% from the corresponding period of 2008.

Europe has fallen into a deep recession and there is a risk that it may worsen because of collapsing confidence in the region and the global demand decline, the International Monetary Fund (IMF) estimates.

On Wednesday, the European Commission will launch the excessive deficit procedure against Romania, Malta, Poland and Lithuania for exceeding the budget deficit limit of 3% of the GDP, set by the Maastricht agreement, which is a requirement for...

The law endorsing the Government"s emergency ordinance on the budget rectification is constitutional, the Constitutional Court of Romania (CCR) ruled yesterday.

The Romanian pharmaceutical market grew 22.5% y/y in the first quarter of 2009, reaching 1,990.2 million RON or approximately 466.5 million EUR according to the market researcher Cegedim.

The accounts of the Authority for State Assets Recovery are being periodically emptied by the disbursements made to the victims of the National Investment Fund (FNI), which AVAS being barely able to get the money needed for paying the wages of...

The no-confidence motion headlined "The Great PDL-PSD Hoax," signed by 124 MPs of the PNL and UDMR against the "abusive" measures taken by the ruling coalition - deconcentrated services and the lump sum tax - was presented...

The Finance Ministry yesterday sold three-month discount bonds in the amount of 1.749 billion RON, the National Bank of Romania (BNR) announced.

The completion of the restoration and modernization works of the spa resort, which was built over a hundred years ago, caused the turnover of the company "Staţiunea Ocna" SA, (the operator of the resort), to grow to EUR 1.6 million, in 2008.

Banca Comerciala Romana (BCR) has unveiled a new 12-month RON-denominated deposit with a fixed interest rate of 14% p.a. available as of 11 May.

The assembled Chamber of Deputies rejected yesterday, after a ballot with 137 votes in favor, 51 against and 9 abstentions, the request of the Commission for Investigating Abuse, Corruption and Petitions on the creation of a commission for...

Owners of office space in Bucharest are beginning to experience some cold sweat as the occupancy rate plunged a worrisome 31% in Q1 compared to both Q4 and Q1 of 2008.