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The Government will subtract 220-280 million EUR from the quotas of seven or eight banks participating in the State-driving housing scheme First Home Programme and re-allocate it to the banks that have managed to disburse the most significant...

10 companies account for 548 million lei out of the 1.63 billion lei in state budget arrears of companies in the county of Iaşi.

Lloyds Banking Group Plc., the largest mortgage lender in Great Britain, partially nationalized by the British Government, said it would keep its option open in view of opting out of the governmental asset backing programme.

The United States of America have a record budget deficit of 1,400 billion dollars during the 2008-2009 fiscal year, which ended in September, according to the Congressional Budget Office (CBO), the highest since 1945.

Eight months through the year, the Export-Import Bank of Romania - EximBank, reported gross earnings of 130 million RON, up 140 per cent from the entire year 2008, amid a 38 per cent increase in asset value from 31 December 2008, to 4 billion...

The Board of Directors of the National Bank of Romania (BNR), nominated by the Budget - Finance Committees of the Senate and the Chamber of Deputies, was validated in a plenary session yesterday with 251 votes in favour and 42 against for a term...

Romania can exit the crisis by itself. The only condition would be for them to be free from the state from an economic point of view.

Julius Baer Group Ltd., a 120-year-old Swiss private bank, has decided to buy the Geneva-based private banking unit of ING Groep N.V., the largest financial corporation in The Netherlands, for 520 million CHF (506 million USD) in cash.

Nationalized Dutch bank ABN Amro Group yesterday decided to postpone the legal separation from the Royal Bank of Scotland Group Plc (RBS) and is expecting the process to take place in the first quarter of 2010 at the earliest.

"Emporiki Bank of Greece" SA, the Greek division of French bank "Credit Agricole" SA, expects net losses of about 570 million Euros (838 million dollars) this year, and will try to secure a capital injection to finance its layoff...

In a discussion with the Italian Ambassador in Bucharest, representatives of the 1,800 Italian investors of the county of Arad said that their businesses are affected by the current economic turmoil.

Opposition parties PSD and PNL yesterday expressed their conviction that the motion of no-confidence that they introduced against the so-called Boc 2 Government which will be put up for voting on Tuesday, October 13th, has high chances of success.

Fears and uncertainty caused by Romania"s political situation are far from over, as yesterday"s decline of the shares of the five SIFs (Financial Investment Companies) proves, since the raising of the maximum allowed stake to 5% depends...

An experiment: two pipes were welded together to form the shape of the letter T.

Over 15,000 members of various trade unions from across the country besieged Victory Square (i.e. Piata Victoriei, the headquarters of the Romanian Government) on Wednesday, demanding that Prime Minister Boc"s Government resign immediately...

Wojciech Zaremba, Business Development Manager for German Group PCC SE, minority shareholder of "Oltchim", is certain that the company"s shareholders will vote on Friday for initiating the liability proceedings against him and former...

The Association of Aerated Autoclaved Concrete (AAC) Producers in Romania - PRO BCA is requesting the prolongation of the effects of Emergency Ordinance of the Government (OUG) no. 28/2009 regulating specific social security measures.

The Authority For State Assets Recovery (AVAS) has decided to discontinue the post-privatization monitoring and to archive the documentation for several companies which were privatized.

The Ministry of Economy early this week appointed Emil Miron of the Special Tasks Directorate of the Ministry of Economy as Special Administrator of Constructii Aeronautice - Ghimbav (Aeronautical Constructions - Ghimbav).

Highly modular office buildings easily divisible into 100-150 sqm sections proved the most profitable in times of crisis, real estate consulting company Esop says, in a press release sent to our editors.

Companies and individuals that want to change their lender may soon be exempt from the payment of the penalty fee which can amount to as much as 3% of the loan taken out.

Employees of Electrica sued the company and the Ministry of the Economy for denying their right to buy up to 10% of the shares of the former division of Electrica Oltenia.

The establishment of two giant energy corporations having a dominant market position and the lack of transparency in contracts signed between State-run energy producers and private partners enjoying preferential treatment are the main sources of...

The Foodstuff Marketing Law, submitted to President Traian Basescu for promulgation is one of the five most important crisis containment measures and needs to be signed into law as soon as possible, Ovidiu Nicolescu, President of the National...

The financial investment firms (SIFs) continue to have a market value equal to less than half of their net asset value, although the price of their shares on the Bucharest Stock Exchange (BSE) has increased significantly since the beginning of...

After a few years of developer domination, when home prices were rising from one month to the next, and properties would sell like hotcakes, the residential market has slowed down and shifted power to the buyers. This last year, potential buyers...

Most of the assets of fertilizer producer "Amonil" Slobozia will be auctioned off today for a minimum amount of 57.12 million lei, after the main shareholder of "Chemgas Holding Corporation" SRL, the plant"s creditor, rejected...

The financial assistance granted to Central and Eastern European countries must continue, the International Financial Institutions said, warning that not taking the significant challenges of the economic crisis makes the the recovery process of...

Online payments by credit or debit card gained substance in the first nine months of the year, totalling 69.5 million EUR, up by a substantial 75 per cent from the corresponding period of 2008, according to electronic payment processor RomCard.

N-Lex (national laws) is an electronic legislative database which is accessible free of charge, and which is connected to the N-Lex European system, which means users have access to the legislation of all the European countries which are...

The Board of Directors of SEF Petroforest SA - Piatra Neamt has called an Extraordinary General Meeting of Shareholder for 5 November to discuss and approve mortgaging two buildings as guarantee for two loans worth a total of 19 million EUR to be...

The U.S. dollar continued to decline on foreign markets yesterday, for the second consecutive day, as the Finance Ministers and Central Bank Governors of the G7 (the seven most industrialized countries in the world) omitted to make reference to...

Even if capital market investors had had a crystal ball foretelling the future a year ago, they would probably have not even imagined that an investment fund could double their investment in only 12 months with a global economic crisis in progress.

After having prospected potential gold and platinum deposits in Morocco, the management of Prospectiuni SA (controlled by Romanian businessman Ovidiu Tender) seems quite confident that the company will soon start prospecting for oil, too.

Businessman Ioan Niculae once again became the majority shareholder of the former "Romanian Tobacco" National Company (SNTR), five years and a half after the company"s privatization.

Oil prices are expected to average 63 dollars in 2010, after 55.5 dollars in 2009, the World Bank said in a report on the Middle East and North Africa released in Istanbul on Saturday.

Investor appetite for shares of "Carpatica" (symbol: BCC) did not see significant changes in the last four trading sessions, even though the bank went through major changes, including the replacement of its general manager and the share...

European Union regulatory authorities on Friday charged British Airways, American Airlines and Iberia Lineas Aereas de Espana SA with breaking antitrust regulations by sharing trans-Atlantic routes.

Arrivals of foreign tourists in Romania logged at border crossing points, amounted to about 897,000 in August 2009, down 18.2% over August 2008, whereas over 1.3 million Romanians went abroad this year, down 26.3%, according to the National...

At the request of one of the shareholders, the Board of Administration of Pantex SA Braşov summoned the General Assembly of Shareholders for November 19th.

Developing countries continue to suffer severe detriment because of the global economic recession, and the World Bank needs additional resources to assist them, said World Bank President Robert Zoellick.

Barely two weeks after expediting the adoption of the Single Salary Policy Law by taking responsibility for it before Parliament, the Government is considering changing it through an emergency ordinance.

The Democrat Liberal Party (PD-L) has entered the final stage of the preparations for the election campaign, PD-L Vice President Gheorghe Flutur stated, adding that further details about the official announcement of the President"s candidacy...