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The Finance Ministry earlier this week took a club loan of approximately 1 billion EUR from the top eight commercial banks in Romania after having issued countless Treasury certificates since the beginning of the year to cover the budget deficit.

"Lucrări Drumuri şi Poduri" (LDP) SA, ("Bridge and Road Works"), a company fully owned by the County Council of Iaşi, won the auction for the rehabilitation of County Road DJ 249A Iaşi - Ungheni, with a bid of 1.26 million lei...

Aluminum Corp. of China, the nation"s largest producer of the metal, said a price recovery for the lightweight metal will lag behind other base metals because of high inventories.

Constantin Nita, Minister of Small- and Medium-Sized Enterprises, Commerce and Business Environment, has signed 14 of the 38 contracts of the small- and medium-sized enterprises selected for financing with European Union funds, having a total...

Head of the Executive Board of Cocor Turism Neptun, Daniel Stoica, said that he wants to drop the lawsuits against SIF Transilvania, as the FIC has now become a shareholder of Cocor Bucureşti.

Most home improvement stores try to boost their sales by offering up to 30% discount, free shipping for orders of more than 500 lei and the option to pay in monthly installments.

Approximately 100,000 companies closed or suspended operations in the first half of the year following the introduction of the minimum profit tax also known as the lump sum tax.

The Government will cancel over 1.1 billion lei of debts oustanding of 35 thermal plants owned by several mayoralties, a process which is expected to tale at most three months to complete.

Provident Financial Romania reported to have over 120,000 customers at the end of June 2009, up by more than 50% from 51,000 customers in June 2008.

Pitesti-based real estate developer Conarg Real Estate yesterday announced significant price reductions for apartments in the newly built development "Rasarit de Soare" (Sunrise) in Bucharest, according to a press release from CB Richard...

Banks which applied for the "First Home" program will sign, at the end of next week, a new convention with the National Guarantee Fund for SMEs, after having cleared all the details on the execution of the guarantee for bad loans in a...

Outraged with the Government"s refusal to declassify the privatization contracts in the steel industry, representatives of the Metarom Federation of the Steel Workers Unions intend to file a criminal complaint with the National Anti-Graft...

Six months through a year of severe crisis for the automotive market, the aggregated results released by the Association of Automotive Manufacturers and Importers (APIA) confirm a bleak outlook for the months to come.

Libra Bank has concluded an agreement with the Guarantee Fund for Rural Loans (FGCR) in order to help Romanian SMEs by allowing them access to funds allocated by the European Union for the development of the farming sector.

The case of the Roman-Catholic Cathedral "Sf. Iosif", a historical monument which is part of the Romanian heritage, next to which a developers is currently raising a 19-floor building, came to the attention of the European Commission...

The introduction of the private pension system in Romania was a difficult, but successful reform process, according to remarks by the World Bank in the Country Partnership Strategy with Romania, which sets the rationale and framework guiding the...

Romania"s Central Bank attracted over 200 million lei from three banks, which were placed in deposits with a 1-week maturity, specifically July 27, for which it will pay an interest rate of 9%, matching the policy rate.

The Board of Directors of ArcelorMittal Tubular Products SA - Iasi (RASDAQ:TPRO) has called an Ordinary General Meeting of Shareholders for 11 August upon the formal request made by financial investment firm SIF Moldova SA.

The execution of Units 3 and 4 of Cernavodă will begin at the end of next year, the management of "Nuclearelectrica" said.

The auction held for the sale of movable assets (including machinery and raw materials) with an estimated starting price of 45,000 lei, owned by the now bankrupt Moldova Tricotaje SA Iaşi, fail to attract any buyers.

Interest rates paid by banks on deposits made by individuals dropped just as fast as they rose, as soon as the Central Bank began cutting the policy rate and issuing warnings for bankers that such passive interests are unsustainable.

Nicolae Iotcu, Chairman of the Arad County Council, has signed the permit for construction site preparation and provisional constructions pending the start of the construction works on the section of the Arad - Timisoara Highway located in Arad...

British pharmaceutical group GlaxoSmithKline has announced that starting in the second semester of 2009, it will begin production of a drug used in curing HIV in Bra ov, which the company will begin exporting in 2011.

The World Bank late last week approved a 300 million EUR loan to Romania within a proposed 3-part Development Policy Loan programme totalling a projected 1 billion EUR.

The aggregated net profit of the five financial investment firms (SIFs) surged 72% in the first six months of the year compared to the corresponding period of 2008, reaching 546.2 million RON.

Sales of hypermarket network "Carrefour" in Romania have increased 4.8% YOY in H1 2009.

The State-driven First Home Programme intended to help Romanian buy their first home has somewhat revitalized the mortgage loan market, but not as much as bankers and real estate developers had hoped.

Interview with Ludwik Sobolewski, the chairman of the Warsaw Stock Exchange

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.