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Romania"s gross domestic product could decrease by more than 8.6% in the second quarter of 2009 as the slowdown in the construction sector could exceed initial forecasts, according to Nicolae Alexandru Chidesciuc, Senior Economist with ING...

The IMF estimates that the economic recovery in 2010 will be stronger than previously anticipated.

Condominia and foundations are now able to become customers of ING Bank as the segment for small- and medium-sized enterprises (SME) and liberal professions has been expanded in this respect as of July, a press release from the bank announces.

The management of "ProLogis" yesterday announced the extension of the contract concluded with "Omega Transport and Logistics" for the rental of office spaces of approximately 6,700 sqm in "ProLogis Park Bucharest A1".

The Warsaw Stock Exchange (WSE) reported an impressive volume of futures contracts volumes for the first six months of the year, ranking fourth among the most active capital markets in Europe after EUREX, Liffe NYSE Euronext and OMX, according to...

The Ministry of Housing and Regional Development (MDRL) yesterday issued a press release announcing that Minister Vasile Blaga made the decision to postpone the payment of holiday bonuses to the employees of the Ministry.

As the market for building materials in Romania has been strongly affected by the world economic crisis, the related industries have also taken some of the shockwave.

The Romanian Constitutional Court (CCR) yesterday voted with a majority of votes, that the law that governs the organization and the operation of some of the Government"s structures is unconstitutional, according to a press release issued by...

In order to fight the underground economy in the food industry - which causes the government to lose about EUR 2 billion every year - the state has recently begun investigating grain traders, but the results are hardly spectacular.

Out of the 30,000 companies registered with the General Department of Public Finances in Iaşi, 17,235 have unpaid debts towards the consolidated budget of the state worth 606.7 million lei.

The crisis containment programme elaborated by the Government at the beginning of the year has had no effects on the economy so far, according to Ovidiu Nicolescu, President of the National Council of Private Small- and Medium-Sized Enterprises...

Starting July until the end of the year, Bancpost will pay its customers back 1% of the total value of purchases made using American Express Green and Gold cards at retailer POS"s.

The Central Depository of the Sibiu Exchange (SIBEX) has received authorization from the National Bank of Romania (BNR) to launch the spot market, according to SIBEX Spokesman Decebal Todarita.

BCR Administrare Fond de Pensii (the pension fund owned by BCR) submitted the necessary documentation with the Commission for the Surveillance of the Romanian Private Pension System (CSSPP) for the approval of the merger of the pension fund...

"The Romanian crisis will last nine months longer than in the US", economic analyst Dragoş Cabat, chairman of CFA România, yesterday said in Braşov.

Commercial banks have started signing guarantee agreements with the National Credit Guarantee Funds in order to start the State-driven First Home programme designed to help individuals buy their first home with a State guarantee for up to 60,000...

Electrocentrale - Bucharest (ELCEN) and Unit Investment NV & SOMOGIN SAM have set up a joint venture to build a highly efficient co-generation unit of the electro-thermal power plant CET Bucharest South and are in an advanced phase of...

The cleanup of bank"s toxic assets has not been completed yet, and until this happens, there won"t be a recovery of the world"s economy, estimates the General Manager of the IMF, Dominique Strauss-Kahn.

Dan Voiculescu, the Founding President of the Conservative Party (PC), believes that, six months after having taken office, the Boc Government has failed to contain the crisis.

After having laid off 1,800 employees at the beginning of the year, Electrica Serv is considering sending some of the remaining employees on technical unemployment has the current crisis has taken a heavy toll on the company"s order intake.

Bucharest subway company Metrorex is planning to invest some 350 million RON this year in a number of upgrades, construction works and improved rolling stock, Agerpres reported.

Former Finance Minister Daniel Daianu has expressed his astonishment with the European Commission"s refusal to approve the proposed increase in the capital of the State-controlled CEC Bank and has written a letter to European Commissioner for...

Romanian Commercial Bank (BCR) cut interest rates for individual fixed interest loans denominated in lei by as much as 3.25 percentage points.

In its ten years of operation, the Authority for State Assets Recovery (AVAS) took over a portfolio of receivables and interests worth 12,145 million lei (5,064 million dollars), for a number of 73.057 debtors, according to a press release.

After the NBR cut the policy rate from 9.5% to 9%, and reduced the level of minimum required reserves for foreign currency-denominated liabilities - from 40% to 35%, and for leu-denominated liabilities, from 18% to 15%, analysts of X-Trade...

Romanians retain the preferences for vacation destinations and transport noted in the past, despite the fact that the country is going through a period of significant changes, according to a recent GfK report.

PNL Deputy, Cristina Pocora, considers that the Minister of Agriculture, Ilie Sârbu, and the Minister of Public Finances, Gheorghe Pogea, should resign, because the two ministries are paying their upper higher employees salary and holiday bonuses.

Banca Transilvania stopped buying back own shares on the Bucharest Stock Exchange (BSE) after noticing that the market had diminished, according to Horia Ciorcila, Chairman of the Board of Directors.

Financial Investment Company "Transilvania" (SIF3) announced it wants to sell shares it holds in "Biroul de Turism pentru Tineret" (Yout Travel Bureau) (Rasdaq symbol: BIBU), because the latter changed its main line of business,...

The Arad County Trade Registry reported that no less than 895 companies filed to suspend their operations in the first six months of the year.

The unemployment rate reached 6.0% in June, up by 0.2% from May and up by 2.3% from June 2008, according to the National Employment Agency (ANOFM).

The launch of the "First Home" program did not significantly impact home prices in Bucharest in the month of June.

The state will soon begin investigations in the grain trade sector, in order to fight the rampant underground trade.

Insurance broker "Capital&Alliance" accuses "Allianz Ţiriac" of not recording several policies worth EUR 500,000, thus harming 1,500 customers who have been paying their insurance premiums for the last four years, according to...

A new tender will take place Monday, 6 July, to award the contract for the rehabilitation and modernization of transportation infrastructure in the cross-border area of Iaşi - Ungheni on National Road 249.

The takeover of mobile telephony company Telemobil (Zapp) by Cosmote Romania has sparked prompt reaction on the market as Orange Romania, represented by Marketing Manager Dorin Odiatiu cautioned the Competition Council and the National...

Iberdrola, one of the leading private energy companies in the world and the largest renewable energy company in the world, has concluded leasing arrangements for 350 square metres in an office building in Polona Street in Bucharest with the...

Approximately 2,000 employees of the mining industry and energy companies that have mining divisions (the energy facilities in Oltenia) could be laid off in 2009-2010.

County councilmen of Braşov voted in favor of the proposal made by Aristotel Căncescu, the chairman of the Council, to assign the Council"s stake in the FC Braşov football club.

While attending a seminar organized by the Economic Mission of the French Embassy in Romania yesterday, Radu Berceanu, the Minister of Transports yesterday said that divisions of the Romanian Railways are at risk of being unable to pay their...

Industrial production prices (for the domestic and non-domestic market) rose 0.4% m/m and 1.4% y/y in May 2009, the National Statistics Institute announced in a press release.