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The National Bank"s optimism about the economy is groundless as far as the near future is concerned, as Romania will incur a plunge in the Gross Domestic Product in Q2 and go into recession, President Traian Basescu told a an emergency...

The National Securities Commission (CNVM) last week endorsed the appointment of Costel Ceocea and Claudiu Doros as President - General Manager and, respectively, Vice President - Deputy General Manager of financial investment firm SIF2 Moldova,...

The designer of the new Justice Palace of Iaşi intends to submit the documentation needed for the Regional Urban Planning stage (PUZ).

Moody"s late last week announced their decision to withdraw the ratings offered to Banca Comerciala Carpatica for business reasons and with the common agreement of the parties, a Moody"s press release indicates.

The company and the factory "Manufactura" of Turnu Măgurele were born following a bet by Italian entrepreneur Nazzareno Marinangeli.

Add Pharmaceuticals, one of the shareholders in Ropharma - Brasov will ask the General Meeting of 24 June to consider transferring the Ropharma stock from RASDAQ to the Bucharest Stock Exchange Tier 2. Ropharma is currently listed on RASDAQ Tier 1.

Raiffeisen Centrobank maintained the "hold" recommendation for Transelectrica stock (BSE:TEL) despite a 7% increase in the target price from 13.7 RON/share to 14.7 RON/share.

Parliamentary parties are extremely displeased with the Government"s decision to adopt Emergency Ordinance of the Government 61/2009 enabling the Cabinet to abrogate laws before they come into effect.

It would be best if the National Bank of Romania (BNR) reduced the key rate by another 0.5 percentage points during the Board meeting scheduled for 30 June to help banks to resume lending and the economy to recover, Robert Rekkers, General...

"Capgemini", a provider of consulting, technology and outsourcing services, will open a center in Ia i, in a bid to strengthen its Eastern Europe presence.

In the county of Iaşi, 410,000 sqm of land were removed from agricultural use, in the first five months of 2009.

"Praktiker" Romania Friday opened a new wing of the Craiova store, after expanding by over 2,000 square meters the retail area of the store.

Frigotehnica has created a Green Energy Division and thus tapped the renewable energy market.

Fortus S.A. - Iasi has delivered their 14th pedestal for pivotal cranes needed to build specialized offshore vessels to the STX Europe Shipyard in Tulcea.

The Government"s General Secretariat (SGG) requested that the Prime Minister"s Investigation body investigate the terms under which former director of RA-APPS (Government Business Enterprise for managing the Public Heritage), Adrian...

Romanian Commodities Exchange (BRM) runs the risk being declared insolvent, after the court of Bucharest decided to initiate the insolvency proceedings following the request of Moldova SRL Trading and Brokerage company, official of the Iaşi...

A group of representatives of a French company had talks with the management of CET Arad in order to take over the thermal plant.

Europe seems to be increasingly concerned by a reoccurrence of the Russian gas crisis in the winter of 2009.

Multivac Romania, the representative office of the German-based packaging machinery manufacturer Multivac, started operations in August 2008 and concluded last year with 2 million EUR in turnover.

Romania"s exports declined by 23% in April compared to the corresponding month of 2008, while imports dropped 40%, thus leading to a trade deficit of 835.1 million EUR, according to the National Statistics Institute (INS).

The ongoing international crisis has limited the manoeuvring space of the "bad boys" of the capital market and made it harder for them to fool other investors, as financial difficulties have made the latter much more cautious, J. Troy...

"Rap Confectionary" intends to rent a second production line from the Kraft chocolate factory in Bra ov, in order to expand its product range.

The Bucharest Stock Exchange (BSE) Board of Directors in mid-May decided to increase the price variation limit from 15% to 40% as of 15 June, according to a press release issued late last week.

Romanian-based banks tightened the lending criteria for individual customers in the first quarter of 2009, applicable to both mortgage loans and personal loans, according to a study by the National Bank of Romania (BNR).

Braşov -based "Hiperdia", medical imaging center operator, this year expects its turnover to reach 52 million lei, more than double over last year"s 24 million lei.

Carmolimp, a company based in Ucea de Jos, Brasov County, will invest 4 million EUR in building a plant that transforms abattoir waste and animal excrements into electric energy.

At the recently concluded Indagra Food fair held at Romexpo, "Nova Pan" presented an innovative baking system which features automated loading and unloading.

Given the current financial context, the effects of the world crisis in Romania are hard to forecast.

Local authorities of the city of Galaţi have identified the main goals that projects submitted as part of the Integrated Urban Development Plan should focus on.

The Inner Central District of Tokyo has surpassed West End London as the world"s most expensive office area, according from the semi-annual study Global Office Occupancy Costs made by C.B. Richard Ellis Group Inc. (CBRE) Global Research and...

The European Bank for Reconstruction and Development (EBRD) injected 6 million EUR into the share capital of paper factory Pehart Tec, thus making a turn in their previous policy on Romania.

Apartment rental fees in Bra ov dropped significantly in 2009 over the previous year, sometimes by as much as 50%.

Privately-managed mandatory pension funds (Pillar II) concluded last year with a net profit of 30.5 million RON distributed across the 4.03 million participants who made contributions to any such fund last year, according to the Private Pensions...

Beer containing additives is being marketed in Romania, despite its content of malic acid, ammonia caramel and various flavourings.

In this year of crisis, when the auto industry is one of the hardest hit sectors of Romania"s economy, carmaker Mazda is already feeling the effects of the financial crisis.

The number of companies with Italian capital that chose to invest in Romania dropped 30% YOY in Q1 2009, said Mario Iaccarino, director of the Italian Foreign Trade Institute (ICE).

Fortus S.A. - Iasi (­R­A­S­D­A­Q­:­FRTI) reported a significant decrease in operating losses at the end of last year, compared to the figures for 2007, despite a nearly 5 million RON decrease in turnover.

Cosmote Romania reported a 54% increase in corporate traffic in Q1, compared to the corresponding period of 2008, the company announced on Wednesday.

The call for tenders by the Iaşi Electrothermal District Heating Plant (CET) Iaşi SA for purchasing coal needed for the winter of 2009 was won by Iuganord SRL in the Republic of Moldova and Trans Nafta Ltd. Great Britain.

The works for the extension of the runway and the aircraft parking platform of the "Traian Vuia" International Airport of Timişoara will begin on July 4th 2009.

The overall value of guaranteed and non-guaranteed deposits in the Romanian banking system reached 284.16 billion RON at the end of March, up by 5.6% from end-2008, according to Alexandru Matei, Deputy Director of the Banking System Deposit...