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The International Monetary Fund (FMI) claims that its programs, which involved increased resources, more flexible policy and the enforcement of reforms, helped emerging countries, in particular those of Eastern Europe, to withstand the effects of...

Russia is interested in a stake in Bulgarian nuclear plant in Belene (Bulgaria), which is being built by a Russian company, Serghei Kirienko, the chairman of "Rosatom", the Russian state corporation for atomic energy said yesterday.

Employee expenditures, for the first eight months of the year increased 10.8% over last year"s similar period, according to the execution of the general consolidated budget on August 31st, 2009.

Banks will be required to increase their equity for the riskiest operations more than two times, by the end of 2010, according to the agreement of the G20 leaders at the end of the Pittsburg summit (September 24th to 25th).

Russia"s "Gazprom" will be extremely happy to negotiate the price of gas they deliver to us, but only for any amounts which exceed the ones already contracted, which cover another 21 years, until 2030.

Iasi County Council Chairman Constantin Simirad has announced that the Regional Development Agency North East has accepted the requests for financing filed under the projects "Rehabilitation, Modernization, Endowment of Special Schools in...

ING Life Insurance (ING Asigurari de Viata in Romania), the life insurance arm of ING Group, is planning to inaugurate a service centre for Central European countries in Cluj Napoca, Romania, next year to centralize several financial, IT and...

The Polish cosmetics market increased from 17.7 billion PLN (4.25 billion EUR) in 2007 to 21 billion PLN (5 billion EUR) in 2008.

Raiffeisen Centrobank analysts have increased the target price for Alumil Rom Industry (BSE:ALU) for the next twelve months from 2.2 RON to 2.3 RON as ALU shares have gained over 20 per cent on the Bucharest Stock Exchange (BSE) in the past two...

AVAS (the Authority for State Assets Recovery) will discontinue the post-privatization monitoring of six companies which were privatized between 1996 and 1998 and will archive the contracts for the sale of the stakes in the companies, the...

The European Commission has given the go-ahead for the program of the Romanian government intended to promote high efficiency energy cogeneration.

Marfin Egnatia Bank has increased the share capital of its Romanian subsidiary by 42.05 million RON to 170.75 million RON, according to official documents of the bank.

The first two warehouses in the Olympian Logistic Park - Brasov, located nearby the village of Cristian in Brasov County, were inaugurated late last week.

Italian airline Alitalia SpA will actually lose less money this year than estimated, due to lower fuel prices, MF announced without indicating any source.

U.S.-based Citigroup Inc. is planning to downsize its network in six major U.S. and Canadian metropolitan areas by closing or selling some of the branches.

The Department of Public Finances of Arad held two auction sales for the sale of movable and immovable assets of IMAR SA, but the sale attracted no buyers.

The National Securities Commission (CNVM) has started a public debate, until 7 October, on a draft regulation stipulating that members of the board of directors of a market operator cannot concurrently be members of the board of directors or...

In the coming period, the leadership of the County Council Braşov will launch the proceedings for taking out a 10 million Euros loan.

The ongoing crisis and the resulting property sales plunge have prompted developers to seek more innovative solutions to secure any customer they can find.

The Romanian Government plans to lower the budget deficit to 5.9% of the GDP in 2010, and the Ministry of Public Finances now waits for the expenditure budget drafts of the other ministries, Finance Minister Gheorghe Pogea said yesterday, as...

Romanian lawmakers on Thursday rejected a no-confidence motion initiated by opposition liberals (PNL) and the Hungarian minority party (UDMR), as only 112 votes backed the motion, which needed 236 votes to pass.

The board of "Construcţii Aeronautice Ghimbav" will meet today to discuss possible solutions to the company"s current problems.

Erste Group Bank"s non-performing loans on Eastern European markets from Czech Republic to Romania have peaked and may decline from the middle of 2010 due to a general recovery of the region, Chief Executive Officer Andreas Treichl said.

Romania spent 2980.7 million lei on R&D in 2008, i.e. 0.59% of the GNP, up 0.06% over 2007, according to a press release by the National Statistics Institute (INS).

EBRD will grant Raiffeisen Bank România a EUR 25 million loan, as part of the agreement concluded with the bank"s majority shareholder Raiffeisen International, according to a press release sent yesterday

UniCredit SpA, the largest bank in Italy, is planning to sell its 1.6 per cent in Cam Finanziaria SpA to the Malacalza Family, the newspaper Il Messaggero reported, without naming any source.

The Extraordinary Shareholders" Meeting of ASAM SA Iaşi (symbol: ASAM, listed on the Rasdaq section of the Bucharest Stock Exchange) decided to take out a short term EUR 3 million loan from Intesa Sanpaolo Bank România SA, in order to...

According to a report on retail financial services by the European Commission, there are widespread problems with the way banks inform and advise their customers.

The Competition Council investigation concerning a possible unlawful agreement among entities operating on the banking and interbank market is far from a conclusion, one year after it started, representatives of the Council informed.

Patrick Gelin, President of Banca Romana pentru Dezvoltare (the Romanian Development Bank, BRD) - Groupe Societe Generale, the second largest bank in Romania, does not yet see when Romania may exit the ongoing crisis and believes that the horizon...

The European Commission has adopted a package of legislation to strengthen financial supervision in the European Union as the ongoing financial crisis has revealed the weaknesses of the European supervision system, according to Commissioner for...

The Authority for the Recovery of State Assets failed in its attempt to sell the stake it holds in Moldoplast Iaşi (MLPL, listed on the Rasdaq tier of the Bucharest Stock Exchange).

Situation remained tense yesterday at ICA Ghimbav (manufacturer of aircraft and spacecraft), as the company"s general manager, Traian Tomescu, was not allowed to enter the company"s headquarters by angry workers demanding the payment of...

The International Monetary Fund believes it is too early for governments to terminate bail-out efforts focused on their ailing financial sectors, but authorities need to coordinate their strategies on how to step back from their interventions,...

Volksbank Romania and Piraeus Bank Romania have joined the clearing-settlement and registry system of the Central Depository. Volksbank Romania has also acquired the capacity of custodian agent, according to a press release from the Central...

The economic crisis and the nearly complete gridlock on the real estate market have serious affected real estate agencies in Romania. According to Adrian Erimescu, Managing Director of the real estate portal imobiliare.ro, approximately 40 per...

The agenda of the Bucharest City Council meeting scheduled for Friday includes the approval of 29 Urban Area Plans (PUZ), but Asociatia Salvati Bucurestiul (the Save Bucharest Association) has identified virtually all types of abuses against...

The IMF approved the second tranche of the loan given out to Romania (of 1.85 billion Euros), following its first evaluation of the country as spart of the foreign loan agreement. Half of the money will go to the forex reserves of the NBR, with...

The State Assets Recovery Authority (AVAS) has failed to sell its holding in Moldoplast - Iaşi (RASDAQ:MLPL). According to the Communication Department of AVAS, no one bought a tender book and no bidder attended the auction organized for this...

Romania was a net beneficiary of the EU budget (EU), by receiving 2.912 million Euros, compared to its contribution in Euros amounting to 1.017 million Euros, according to the report on the EU budget for the year of 2008, presented yesterday by...

Sanofi Aventis Europe, the majority shareholder in Zentiva Romania (BSE:SCD) bought an additional 3.4 per cent in the Romanian pharmaceutical company for 9.9 million RON through a public offering organized between 12 August and 22 September,...

A delegation of eleven U.S. businesses with expertise in the nuclear power industry visited Romania"s Cernavoda Nuclear Plant yesterday.