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The National Regulatory and Supervisory Authority for Public Procurement (ANRMAP) yesterday issued a press release announcing intent to initiate legal action for the termination of the procurement contracts for special police cars signed by the...

Approximately 2,500 residents of Iasi County have lost their job since the beginning of the year as a result of the ongoing economic slowdown.

Inhabitants of the counties of Arad, Timiş, Cluj, Satu Mare are drawn towards buying properties in Hungary with mortgage loans taken out from Hungarian banks.

The European Commission has recommended Romania to reduce the budget deficit to less than 3% of the gross domestic product by 2011.

Chemgas Holding Corporation Ltd. has become the new lead creditor of Slobozia-based fertilizer plant Amonil, following the transfer of 54 million RON worth of receivables from Riverside Development Ltd., according to an announcement sent to the...

The mayoralty of Iaşi won EUR 278,526 in funding, following its involvement in the ReTina project-"Revitalization of the former industrial areas", unfolded through the SEE Program (South-Eastern Europe).

The Royal Bank of Scotland (RBS) - Romania earlier this month introduced an electronic trading platform enabling customers to trade on the foreign exchange market and the monetary market in real time.

The land market saw the biggest drops due to the crisis. According to a study made by evaluators of "Darian", compared to last year, prices for plots of land put up for sale in Bucharest experienced drops ranging from 22% to as much as...

Scandia Romana, one of the leading players on the Romanian market for canned meat, has taken a 32.5 million EUR loan to finalize a new factory.

The forecast 4% contraction of the Romanian economy remains feasible, but the GDP could plunge even deeper than that, considering that the figures for the first quarter are below target, according to National Bank of Romania (BNR) Vice Governor...

The business of "Boromir" began with a mill in Rm.Vâlcea, which produced 100 tons of flour in 24 hours.

An interview with Eduard Dimitriev, Managing Partner and CEO, Power Net Consulting

Millennium Bank customers can now pay their Romtelecom bills without any additional cost, using the bank"s Internet Banking service.

The Iasi City Hall has allocated 700,000 RON for the design of the thermal insulation works to be performed on 37 apartment buildings in the city.

"Transelectrica", "Areva Energie" and "Electromontaj" yesterday inaugurated in Suceava the 400 Kv axis, which includes the Gutinaş, Bacău Sud, Roman Nord and Suceava stations.

Regional Development Agency 7 (ADR) Centru of Alba Iulia, which covers the counties of Braşov, Alba, Mureş, Covasna, Harghita and Sibiu, has signed financing agreements with 47 small companies in the region.

In its latest report, the World Bank (BM) warns that the global recession this year will be deeper than the estimates made in March.

A KPMG feasibility study on the future development of Electrica S.A. recommends the Romanian-based electricity company to start producing energy from renewable sources in order to cover their requirements for green certificates.

The management of the five financial investment firms (SIFs) holding stakes in Banca Comerciala Romana (BCR) late last week met with the management of the Austrian-based Erste Group, the majority shareholder in the Romanian bank, to make a...

SIF "Transilvania" (SIF3) and SIF "Banat-Crişana" (SIF1) will each receive EUR 12.75 million from their sales of their respective stakes in "Bancpost", completed at the end of last week.

Cristian Sima, the chairman of brokerage firm "WBS Romania", is looking to sell 10,000 ordinary shares of the Bucharest Stock Exchange for 27 lei/share, according to an announcement posted on Friday on the site of the BSE.

"Air France-KLM", the largest European airline, may need to cut an additional 3,000 jobs through retirement and attrition, according to CEO Pierre-Henri Gourgeon.

A German-based company will start a nursery for plants with a high energy potential in Bata, Arad County.

GDF Suez Energy Romania S.A. yesterday announced intent to terminate natural gas deliveries to eight industrial consumers in Brasov as of 25 June.

The local administration of Bucharest Sector 6 started road rehabilitation works on Leaota Street and Azurului Street in the districts of Drumul Taberei and Militari at the beginning of the month.

According to sources close to this case, the judges of the High Court of Cassation and Justice have decided to change the venue of the insolvency case of case Fortus SA to Târgu Mureş.

Shareholders of IAR Ghimbav will discuss tomorrow the possibility of the company becoming a partner in a new company called Aerodromul "Iosif Şilimon" SRL, together with the Local Council of Bra ov and the Romanian Aeronautical Club.

Regiotrans - Brasov, Romania"s largest railway passenger transportation company in the private sector and the top competitor of the State-controlled CFR Calatori, is aiming for an annual turnover of 126.7 million RON, up by 93% from last...

The approval of the final report on the "Sterling" affair was postponed by the Subcommission of the Parliament after Tuesday, after the preliminary document drafted by the PSD deputies did not receive the approval of most of the members.

Wizz Air, the largest low-cost airline in Romania and Central & Eastern Europe, has signed a memorandum of understanding with Airbus to procure an additional 50 aircraft of the type A320 deliverable between 2014 and 2017, thus increasing the...

Frigocarne S.A. - Iasi (RASDAQ:FGRC) concluded last year with a profit of 113,206 RON, down 9.4 times from end-2007.

Galaţi Shipyard yesterday set afloat a ship which cost approximately EUR 20 million, which it will deliver to its Croatian customer Brodospas in October 2009.

As the ongoing crisis is preventing many Romanians from the western part of the country from spending their vacation in Spain, France or other usual European destinations, the low-budget mini-vacations to Hungarian swimming pools are becoming...

Former general manager of the Romanian National Railway Company, Mihai Necolaiciuc, was arrested Wednesday in the US, in West Palm Beach, according to "Palm Beach Post", as quoted by Agerpress.

The Minister of Regional Development and Homes, as National Authority for the European Neighborhood and Partnership Instrument - Cross Border Cooperation (ENPI CBC) between Hungary, Slovakia, Romania, Ukraine 2007-2013, yesterday announced the...

According to a press release, the Council of Competition authorized the acquisition of SC "ICIM Arad" SA by SC "Astra Vagoane Arad" SA.

The Ministry of Economy and UniCredit Tiriac Bank have signed a Memorandum of Understanding setting the framework for ensuring financing for major investment projects in the energy industry.

ArcelorMittal - Galati has finalized the implementation of the Automatic Gauge Control for Thick Sheet Steel Works no. 2, which required an overall investment of 8 million EUR, according to a press release from the company.

Created in 2003, "Plastic Industries" SRL of Arad, that has 15 workers specializing in producing PVC plastic welded sheets, is currently facing a drop in demand.

Spanish developer "Avantia", which recently launched its first Romanian residential project called Avantia 1 Decembrie, has already sold 15 apartments out of the project"s 110.

Most of the commercial spaces in downtown Arad are becoming vacant as the crisis is taking a heavy toll on the retailers" turnover and the rent is becoming unaffordable.

President Traian Basescu recently complained that the interest rates charged by commercial banks for loans were too high. However, there are signs that the interest rates on loans could decrease in the near future.