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President of France Nicolas Sarkozy and Iran Deputy Petroleum Minister Azozollah Ramezan have both expressed their interest in joining the Nabucco pipeline project.

Platinum Group, developer of residential group Vitan Platinum Towers, claims that transactions with new apartments which are completed or in their final stages seem to have picked up slightly lately.

The Boc government was brought down by the Parliament yesterday, after the motion of no confidence initiated by the National Liberal Party and the Democratic Union of Hungarians in Romania was adopted with backing from the Social Democrat Party,...

The Government does not support the draft law stipulating an increasing in the maximum allowed stake in one of the five financial investment firms (SIFs), because a higher shareholder concentration would lead to a decrease in the liquidity of SIF...

Both the privately managed mandatory pension funds (Pillar II) and the optional pension funds (Pillar III) have rendered annualized return rates above the inflation rate, ever since they became operational, according to a report by the...

Exporters faced with violations of international trade laws, can turn to the European Commission for dispute settlement, according to the Trade Barriers Regulation (TBR).

No bidder attended the auction organized by the special administrator on Friday to sell the assets of the Iasi-based Moldova Tricotaje SA (Moldova Knitwear SA).

The Romanian Parliament will convene today to vote on the no-confidence motion "11 Against Romania" filed by the National Liberal Party (PNL), the Democratic Alliance of Hungarians in Romania (UDMR) and the Social Democratic Party (PSD)...

After beating its annual targets as early as the first semester, Condmag Braşov (COMI) estimates a 53% increase in turnover and a 55% increase of its net profit YOY, according to company officials.

• Tobacco, cigarettes drive consumer price index up 0.4% 

Capital market investors now have the new financial instruments available: index certificates, according to press release by brokerage firm Fairwind Securities.

Shareholders of Prodlacta Braşov have acknowledged the 2.245 million lei share capital increase in last week"s meeting. The company"s share capital increased from 14.451 million lei to 16.696 million lei. The amount represents the value...

The tense political situation in Romania is turning out to be the worst enemy of the country"s ailing currency, international analysts believe, as the leu is no longer capable to withstand the euro"s advance.

After the first nine months of 2009, "Agricola Internaţional Bacău" posted a turnover of approximately 209 million lei, up 10.1% y/y.

Unlike foreign investors, local players continued to dominate the Bucharest Stock Exchange (BSE) in September, according to the data released by the BSE management.

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...

U.S.-based carmaker General Motors Co. (GM) on Friday concluded an agreement to sell the iconic Hummer brand to Chinese-based Sichuan Tengzhong Heavy Industrial Machinery. The financial aspects of the agreements were not disclosed, but sources...

• ARO - Campulung"s last remaining assets are hardly worth 2 million RON, market sources say 

Due to the economic crisis and the social issues it generated, more and more countries in the European Union are faced with an acute shortage of agricultural workers and a phenomenon which is intensifying: transnational worker migration.

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...