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While Romania seems to have fallen out of favor with OMV, or at least with its CEO, Wolfgang Ruttenstorfer, the Vienna Stock Exchange has just increased its share capital with the aim to acquire stakes in Eastern European Stock Exchanges,...

The auction for the designing of the first four blocks of flats scheduled to be built as part of the "Municipal program for helping youth own a home", as initiated by the Mayoralty of Iaşi, was blocked following a challenge of the call...

OMV CEO Wolfgang Ruttenstorfer is reconsidering the investment commitments made by Petrom, the group"s subsidiary in Romania, and will decide by the end of the year whether to authorize a planned 1.5 billion EUR investment in modernizing two...

PD-L deputy Nicuşor Păduraru, chairman of the Parliamentary Commission that investigates the situation of Nicolina SA Iaşi, has announced that the report that the commission has been working on is nearing completion.

The European Central Bank (ECB) yesterday decided to maintain the key rate at the record-low 1%, in line with the analysts" predictions.

The conclusion of yesterday"s meeting between the officials of the IMF and the Minister of Transports, Radu Berceanu, was that the Ministry needs to trim the expenses of companies it runs.

BCR Banca pentru Locuinte (BCR BpL), the housing loan unit of Banca Comerciala Romana (BCR), concluded the first year in business (July 2008 - July 2009) with over 91,000 saving-borrowing contracts for home acquisition worth nearly 2 billion RON...

Landline telephony operator "Romtelecom" posted revenues of 408.7 million Euros in H1 2009, down 7.6% over H1 2008 revenues, which stood at 442.4 million Euros, according to a report by Greek group OTE, the majority shareholder in the...

Assets of Romanian banks were valued at 328.89 billion lei, at the end of June, a 17.53% increase YOY and a 1% decrease compared to the end of March, according to data by the NBR.

The Nabucco project could put Romania on the map of the 21st century, and it is the most important domestic and foreign policy of our country, Mircea Geoană (chairman of the Senate and of the Social Democrat Party) said yesterday, during his...

Data published by the Ministry of Finance, concerning the budget execution for the first semester, prove that the approach of the government in tackling the economic issues was completely wrong, Dan Voiculescu, the president and founder of the...

Prime Minister Emil Boc announced yesterday that he has no intention of running for president and that his party did not take into consideration replacing Traian Băsescu as a candidate in the presidential race.

The president of the Senate, the leader of the Social Democrat Party (PSD), Mircea Geoană, claims that the fate of Romania"s economic recovery hangs in the balance these days, and he said that the worsening of the Romania"s economic...

Six months through the year, CEC Bank reported a 40.62% year-on-year decrease in gross profit to 19 million RON.

Petrom (BSE:SNP), the largest company in Romania, concluded the first half of the year with a net profit of 923 million RON, down by 45% from the corresponding period of 2008, but well above the analysts" estimates, as the price of oil has...

The Chairman of the Iaşi County Council, Constantin Simirad, met with officials of construction contractors which won the auctions for the repair of some of the roads of the county of Iaşi.

The U.S. economy, the origin of the current financial crisis, is showing the first signs of recovery, according to a report released by the International Monetary Funds a few days ago.

The value of net assets for mandatory private pension funds (Second Pillar) has reached 1.7 billion lei (404.8 million Euros) at the end of July, up 8.2% over the beginning of the first semester, according to a press release by the Romanian...

Less than two months after the program was launched, Banca Transilvania has already given out more than 1,000 Preguaranteed Loans to SMEs, in partnership with the National Credit Guarantee Fund for SMEs (FNGCIMM), according to a press release.

Romania"s wheat crop could plunge 40-45% this year, according to worrying forecasts made by farmers, who have already threatened to stage further protests starting in September.

Romania will experience a difficult financial and economic moment in autumn, in the months of September-October, but there are positive signs that the economy will begin to recover starting next year, the chairman of the Social Democrat Party...

"A catastrophic energy crisis" could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, according to Dr. Fatih Birol, Chief Economist of the International Energy Agency...

After 1 year of negotiations, ICCO has taken out a loan of 23 million euros from UniCredit Ţiriac Bank in order to allow for the continuation of the works for the Braşov industrial park, which is currently 40% complete, with the total cost of the...

Dan Ivan is the new Acting Administrator of Zentiva (BSE:SCD), one of the leading pharmaceutical companies operating in Romania, according to a press release issued by the Bucharest Stock Exchange.

The IMF annual report on the United States economy, published on the IMF website before the data on the economic "growth" achieved in the second quarter, is quite optimistic.

The second largest Romanian bank in Romania, in terms of assets, "BRD - Groupe Société Générale", posted a profit of 425 million lei in H1 2009, down 17.4% YOY, from 515 million lei, according to a press release issued yesterday by the...

Tudor Chirila, a rock singer and a member of the rock band Vama, intends to buy stock listed on U.S. markets rather than on the Bucharest Stock Exchange (BSE) as the local market does not offer him the instruments he seeks to protect his money...

NETMA (NATO Eurofighter and Tornado Management Agency), Eurofighter GmbH and EUROJET Turbo GmbH on Friday signed a contract worth EUR 9 billion, to manufacture 112 jets, including 241 engines, for the four partner nations involved in the program,...

The Brasov Water Company has decided to increase the unit price of the water distributed to households by 0.17 RON from 2.58 RON / cubic metre to 2.75 RON / cubic metre.

The Authority for State Assets Recovery (AVAS) will elaborate a new strategy for selling "Avioane Craiova", which includes asking for a state aid for the company, subject to the approval of the European Commission, according to a press...

After Enel - Italy postponed by roughly three months the construction of a thermo-power planned in the Galati Free Zone starting in October 2009, a Romanian company has announced plans to invest 2 million EUR in the same perimeter.

As the financial crisis leaves its mark on numerous companies in all the sectors of the economy, KFC Romania expects its turnover to remain constant by the end of 2009, due to the fact that the company continued to open new locations, in spite of...

Although plans were to resume production two weeks ago, the management of Nitroporos - Fagaras, formerly the chemical plant Nitramonia, have learned that they need further permits and agreements to restart the pipeline connecting the Transgaz...

Over 110 residents of Iasi County have filed complaints against banks with the Iasi County Consumer Protection Commissioner"s Office (CJPC) in the last few months, according to Coordinating Director Ioan Tonel Cazacu.

Insurer "Grawe România Asigurare" saw the volume of premiums subscribed in the first six months reach 42.277 million lei, down approximately 1% YOY, according to a press release by the company.

Banca Românească cut annual passive interest rates for standard deposits in lei, euros, dollars, British pounds and Swiss franks, with the new interest rates coming into effect valid starting Tuesday, according to a press release by the bank.

Energy consumption faithfully mirrors the state of an economy.

After having reported losses of some 19 million EUR for the last two years because of exchange rate fluctuations and massive workforce migration, the Damen Shipyard in Galati, Romania, has also reported losses for the first half of 2009.

The Ministry of Agriculture announced on Friday that by July 30, it had received requests for storage authorizations for 2,310,000 tons of grains.

The towns of Victoria and Codlea in Brasov County will take part in the Regional Operational Programme by submitting projects for the rehabilitation and conversion of polluted or unused industrial sites into other types of sites.

Romania will not be able to meet the 2009 targets set as part of the agreement with the IMF for the end of the year, president Traian Băsescu announced.

The budget deficit target of 4.6% of the GDP agreed with the International Monetary Fund (IMF), the European Commission (EC) and the World Bank (WB) months ago will most likely be changed following a decline in Romania"s economic status.

The five-star Vega Hotel in the seaside resort of Mamaia has become the first hotel in Romania to comply with the Eco Hotel Management System and therefore have the status of Eco Hotel, which guarantees that all processes taking place within the...