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The Brasov County Public Finance Directorate has initiated 426 insolvency cases against as many companies registered in Brasov County since the beginning of the year.

The precarious economic context, as well the excessively high rates for Romanian seaside holidays, in comparison with foreign destinations, are factors which cause tourists to think twice before choosing the Romanian seaside as their holiday...

The Government on Wednesday authorized the start of negotiations on a frame agreement for a 179 million EUR with the Council of Europe Development Bank in order to secure financing for building water distribution and sewerage networks in small...

Azomures - Targu Mures (BSE:AZO), the largest producer of chemical fertilizers in Romania, has announced intent to resume production at maximum capacity, after a period of inactivity.

On the last day of his official visit to the Czech Republic, chairman Traian Băsescu suggested Czech investors access European funds by investing in Romanian tourism and agriculture.

The National Consumer Protection Authority (ANPC) deployed on-site inspection and information units in the Danube Delta as of 15 July, with the support of the Tulcea County Prefect"s Office.

The downturn of the petrochemical industry took a heavy toll on Romania"s largest oil & gas company Petrom (BSE:SNP) as natural gas sales dropped 27% in Q2, according to the report released by majority shareholder OMV on Friday.

Hilton expanded its Romanian network with a new hotel, which was inaugurated at the end of last week in Sibiu.

The number of real estate transactions involving plots of land as well as transactions has increased significantly in June 2009, compared to the previous month, according to data published by the Office of the Land Registry and Real Estate...

Casa de Insolventa Transilvania and RVA Insolvency Specialists, the liquidators of the Brasov-based bearing manufacturer Rulmentul, have decided to reduce the sale price of the package of movable assets to 2.5 million EUR. According to Dragos...

The Brasov County Public Finance Directorate has initiated 426 insolvency cases against as many companies registered in Brasov County since the beginning of the year.

Banks should foreclose on bad loans immediately and sell the collateral for the current market price, even if such price is low for the time being, instead of trying to prolong the process in order to avoid recapitalization, according to...

By the remarks he made during the investment of the new minister of Youth and Sports, President Traian Basescu proved that he does not speak the truth and, by so doing, he is severely jeopardizing democracy, National Liberal Party (PNL) President...

The Minister of Agriculture, and vice-president of the PSD, Ilie Sârbu yesterday said at the end of a press conference, that his party will most likely discuss the issue of the Minister of the environment, Nicolae Nemirschi, once the...

Romanian President Traian Băsescu, will be making an official visit in the 15-16 July period in the Czech Republic, in order to discuss the strengthening of the ties between the two countries and current political and economic issues.

Intesa Sanpaolo Bank has signed the agreement with the National Credit Guarantee Fund for SMEs (FNGCIMM) in connection to the "Prima casă" program and is currently in the final stage of drafting the internal regulations for the new type...

Financial investment firm SIF Transilvania (SIF3) could list their hotel company Aro Palace on the Sibiu Stock Exchange (SIBEX) by the end of the year.

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.

RAFO - Onesti (BSE:RAF) could receive the funds necessary for modernizing the refinery in early October at the latest, as the Government has given positive feedback to the request for a State guarantee for a 330 million EUR loan required for...

The Chamber of Commerce and Industry (CCI) Braşov last week inaugurated its office in the town of Rupea.

SIF Transilvania has announced intent to disburse dividends for 2008 between 17 August and 23 October 2009.

The head of the Department for Infrastructure and Regional Development of PSD, Sorin Bota, yesterday announced that the Social Democrat party is considering a program which would have the National Housing Agency (ANL) take over 50% of the homes...

Korean company "LG Electronics", operating in the electronics, household appliances and mobile communication markets, eyes keeping and growing its market share, especially for its "key" product categories.

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.