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Piraeus Bank România yesterday cut the interest rate for new Happy End personal consumption loans denominated in lei by as much as 2.75%, and announced it would cut rates for current loans in October, according to a press release sent by the bank.

In the first six months of 2009, Romanian consumers went shopping to supermarkets just as often as in the corresponding period of 2008, although supermarkets did lose some of their customers to hypermarkets and discounters, especially in...

The transition period for milk farms and dairy factories will be extended by two years, while the milk produced by entities undergoing the transition process can only be marketed in Romania, the Ministry of Agriculture announced in a press...

The U.S. authorities are investigating the acquisition of Merrill Lynch by Bank of America Corp., the Charlotte Observer reported.

Banca Comerciala Romana (BCR) and Intesa Sanpaolo are the best banks to go to for a mortgage loan, considering the low costs, the competitive down payment limits (down to zero per cent at BCR and down to 15 per cent at Intesa Sanpaolo) and the...

The Fraud Department of the General Inspectorate of the Romanian Police (IGPR) has received 34 fraud complaints concerning property in newly built residential complexes since the beginning of the year, IGPR representatives told BURSA.

The consumer banking division of UniCredit SpA, the largest bank in Italy, probably reached rock bottom in the crisis curve in the third quarter of 2009 and depends on the speed of economic recovery and higher interest rates in order to improve...

The Ministry of the Economy, the main shareholder of "Avioane Craiova", decided on the terms of the program for the restructuring of the company, according to a press release sent to the Bucharest Stock Exchange on Friday.

Work on Polus Center Constanţa, a project developed by TriGranit with an estimated cost of 140 million Euros, picked up speed starting at the end of June, when construction resumed at full capacity.

King Sturge provided technical advice to British fund Tri Investments ERPF for the residential complex Perla Residence in Pipera, which was acquired for 15.5 million Euros.

Romania has had a plan for equipping its army for a few years now. Said plan is still waiting for the approval of the Supreme Council of Defense (CSAT).

The Romanian defense industry is currently struggling for survival, according to Mr. Sebastian Vlădescu, shareholder of "Lord Expert", defense consultancy company.

The value of all arms transfer agreements worldwide, to both developed and developing nations, reached 55 billion USD last year, down by 7.6 per cent from 2007, according to the latest report by the Federations of American Scientists (FAS) on...

All the great mythologies, all the fundamental books of the religions testify that the "historical" world begins with a conflict in which at least one of the parties uses a weapon to cause the demise of their competitor, the result being...

A transaction with government bonds worth 25.233 million lei (5.92 million Euros) was concluded Thursday, on the Bucharest Stock Exchange.

Electroputere - Craiova, controlled by the Saudi-based Al Arrab Contracting Company, has won the tender for a 14 million RON (approximately 3 million EUR) contract organized by CFR Calatori (the Romanian Railway Company - Passengers) on 11 July...

Union Federation Hidrosind yesterday picketed the headquarters of the Ministry of the Economy, of the Social Democrat Party (PSD) and Democratic Liberal Party (PDL) with 300 people for each location, protesting against the division of...

The United States has decided to overhaul the project concerning the installation of a missile shield in Central Europe, after having downgraded the level of the Iranian threat, concurring sources told AFP, after the officials of the projected...

"Vulcan" Bucureşti, controlled by businessman Ovidiu Tender, has won a tender worth 17 million lei (approximately 4 million Euros) for modernizing the installation for the preparation and burning of powdered coal of the boilers of the...

In order to help its customers that are facing financial difficulties, Carrefour România launched the Private label product range, and expects it to account for 10% of its total sales in 2010.

The 16 Members of the Euro Zone achieved a trade surplus well above expectations in July, as exports decrease less than imports, according to the information released by the Eurostat yesterday.

The National Highway and Road Company (CNADNR) relaunched the call for tenders for the "Construction of the Deva - Orăştie beltway at freeway standards".

European Parliament Sabin Cutaş said that there is a need for additional aid from the European Commission in order to reinvigorate lending in the new European member states.

The Stock Exchanges in Vienna, Budapest, Ljubljana and Prague have been integrated into the Central and Eastern Europe (CEE) Stock Exchange Group in a bid to implement coordinated marketing and information dissemination.

Oracle Corporation (NASDAQ: ORCL) today announced fiscal 2010 Q1 GAAP earnings per share were $0.22 up 8% compared to last year.

The financial crisis is far from over, while the economic crisis has just begun, according to Misu Negritoiu, CEO of ING Bank - Romania.

Cigarettes confiscated by Romanian Customs account for only two percent of the overall volume of tobacco contraband entering the country, which means that the risk exists to see contraband become "institutionalized," according to Philip...

Former Youth and Sports Minister Monica Iacob Ridzi has asked the Legal Committee of the Chamber of Deputies to deny the request for permission to initiate criminal pursuit in her case.

The restructuring of the energy production under the banner of two major companies will void the direct contracts concluded between Hidroelectrica SA and certain private energy suppliers, the so called "clever boys".

ING Bank will not challenge the warning received from the NBR for its failure to participate in the public subscription in Euro-denominated government bonds, held on August 14th, 2009, Mişu Negriţoiu, general manager of the bank said yesterday.

Electrocentrale (ELCEN) - Bucharest has signed a memorandum of understanding for the construction of two new generators within the electro-thermal plants CET Progresu - Bucharest and CET Fantanele - Mures.

The Romanian State, represented by Nuclearelectrica, holds 51% in EnergoNuclear, the project company that will build Reactor 3 and Reactor 4 of the Cernavoda Nuclear Plant.

Romanian-based thermal and electric energy producer Termoelectrica has resumed negotiations with Mechel for the modernization of CET Doicesti (Electro-Thermal Plant Doicesti), although not for building a new generator, but for overhauling the...

"NEC Electronics" Corp. and "Renesas Technology" Corp. will merge by April 2010, after their parent companies decided to inject 200 billion yen (USD 2.2 billion) into the new entity set to become the world"s third largest...

The economic crisis has caused the number of unemployed persons in developed countries to rise by 15 million these past 20 months, and it will continue to grow in 2010, the Organization for Economic Co-operation and Development (OECD) warned.

Businessman Gigi Becali, owner of football club Steaua Bucureşti, lent an additional four million Euros to Dumitru Bucşaru, owner of football team Unirea Urziceni, which was expected to debut yesterday in Champions League, in Sevilla, the same...

Trade unions in the energy sector will continue to picket the Ministry of Economy in the following days to express their grievance with the authorities" reaction to the reorganization of the energy production system.

Even though it"s almost complete, the draft for the law of tourism will have to wait until for the vote of the Parliament, because until the presidential elections are over, all the members of the parliament are doing is fighting political...

"WBS România", brokerage firm controlled by Cristian Sima, which holds 11.57% of enameled cookware "Ves" Sighişoara (symbol:VESY) has requested the replacement of a new Board of Administration by cumulating votes.

James McDonald, Chief Executive Officer of the New York asset management firm "Rockefeller & Co.", who also served as a member of the board of stock exchange operator NYSE Euronext, was found dead on Sunday, with circumstances of his...

European Commission anti-trust regulators have decided to extend an on-going investigation concerning the illiquid asset back-up facility provided by the Dutch State to ING Groep NV.

Marius and Emil Cristescu, two of the richest businessmen in Romania, are preparing for new acquisitions on the domestic capital market though the companies they already control.

The Council of Competition has automatically begun an investigation on a possible breach of domestic and European rules by the Romanian Post Office (CNPR), following the decision of the latter to cut fees for standard postal services.

Intesa Sanpaolo Bank yesterday announced it is launching a new variable interest rate savings product for retail customers, available both in lei - with an interest rate of 13% - and in Euros with the interest rate set at 5%.

OTP Consulting România S.R.L., a consultancy company part of OTP Group, has achieved a market share of a around 3% for urban development projects and 0.8% for rural development projects, a press release of OTP Bank states.

Turnover of Braşov company "Roman" dropped 80.6% y/y compared to H1 2098, from 93.52 million lei to 18.11 million lei.

The aggregated net assets of the 12 privately managed mandatory pension funds (Pillar II) operating in Romania amounted to 1,850,510,534 RON (438 million EUR) at the end of August, up by 8.5 percent from July and up five times from August 2008,...