The Organization of the Petroleum Exporting Countries (OPEC) predicts a stabilization of oil demand in 2009, followed by a slight increase in 2010, according to a press release published by the cartel in Vienna, yesterday.

The Romanian Agency for Durable Development of Industrial Areas (ARDDZI) and the Ministry of the Economy announced that contracts for the execution of infrastructure works in several towns will be signed this week.

Starting today, July 15th 2009, the National Bank of Romania will issue, for numismatic purposes, a silver coin dedicated to the 150th anniversary of the establishment of the Statistics Office by Prince Alexandru Ioan Cuza.

The Arad County Council has accepted the works performed within the project titled "Rehabilitation of County Road No. 792C, from Curtici to the junction with County Road 79, Phase II" within the programme PHARE CBC/INTERREG IIIA Romania -...

The number of companies registered in Galati County that decided to suspend their operations for the following three years has increased from 677 at the beginning of the year to a current 2,559, including 319 self-employed professionals.

Even though there seems to be no short term market recovery in sight, positive values will gradually return to the European markets in the next 12 months, with Paris and Madrid to reach fair trading values by the end of 2009, according to a study...

Statistics made by the National Union of Public Notaries in Romania (UNNPR) regarding the real estate market reveal that the number of property transactions and property collateral contracts concluded in the first five months of 2009 is by 52.35%...

Sales of cosmetics, alcohol and chocolate increase in times of economic crisis.

The global economy will recede by 2.5% in 2009 and grow a weak 1.7% in 2010, according to the latest projection by Coface.

The number of applications for voluntary suspension of business, voluntary dissolution and voluntary striking-off filed by companies registered in Romania has been increasing at alarming rates since the beginning of the year, according to...

The price of crude oil continued to decrease on U.S. markets on Friday closing the week with the most substantial decline since January amid fears that the global recession will cause energy consumption to decrease.

Interview with Mr. Bogdan Chiriţoiu, Chairman of the Competition Council

General Electric has started a process of evaluating and auditing the technical potential of Fortus S.A. - Iaşi in view of establishing long-term production of heavy components for wind turbines, Fortus representatives announced.

Bulgaria has put two major energy projects with Russia on hold until the country"s new prime minister-designate Boiko Borisov has carried out a review of outstanding projects, Russian economic daily Vedomosti says.

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...

"Electrica" SA will not be able to sell to Czech-based "CEZ" the stakes it holds in the companies spun off out of the former "Electrica Oltenia".

Prime Minister Emil Boc has announced a 90 million EUR greenfield investment to be implemented in Brasov.

The State-driven First Home programme designed to help Romanians take mortgage loans and stimulate the recovery of the construction and real estate markets has prompted the European Commission to start considering whether it may be a form of...

The National Liberal Party (PNL) is preparing a bill for cutting public expenses, Crin Antonescu said yesterday in a press conference

Foreign currencies proved to be the most profitable investment in H1 2009.

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...