English Section

Economic analysts believe that the nomination of Lucian Croitoru for Prime Minister is a solution to the ongoing political and economic crisis confronting Romania and therefore salute it.

Lucian Croitoru has no flaw that would cause the parliament to deny him the right to become prime-minister, after he was appointed yesterday by president Traian Băsescu to form the new government.

The National Land Development Administration (ANIF) yesterday announced that the rehabilitation of the pumping - drainage station in SPE Balteni had been completed.

New Yorker, one of the largest apparel retailers in Germany and the owner of an international chain of 690 stores in 25 countries, will open a store in the Suceava Shopping City in December.

"Royal Bank of Scotland Group" Plc (RBS) is considering a plan backed by the government, which includes the sale of the 312 branches in the England and Wales, in an attempt to meet the demands of European competition regulators, says...

Businesses using the telephony services provided by UPC can cut their phone bill by 30-50 per cent on the average if they opt for one of the newly introduced bundles of pre-pay minutes (extra-options) available for calls to off-net fixed numbers...

Employees of major banks and brokerages on Wall Street could receive a total of USD 140 billion in bonuses, according to a study by the Wall Street Journal, based on statements by officials of the SEC and on revenue estimates for the remaining...

The European Commission warned Romania and other Members that their economies were at high risk because rising public debt could hurt their ability to meet future needs for public spending. The Commission warned all Members that they could not...

International Finance Corporation (IFC), the investment division of the World Bank, invested over 100 million Euros in Romania, its total investments reaching over 600 million Euros, and estimates loans of over 150 million Euros, next year. Head...

Grieving over the looming loss of their mayor, Klaus Johannis, as the cruel fate was about to snatch him from Sibiu and throw him into the political swamps of Bucharest, the people of Sibiu gained new hope around five o"clock in the...

More than half of Romanians don"t invest because they don"t have money, but if they did, they"d pick higher risk instruments over bank deposits, which are considered safer, according to a recent study by "IMAS International",...

Despite political tension having weakened the RON to the lowest value in the last seven months, analysts believe that the higher pressure noted on the foreign exchange market in the last two days, since the Government was dismissed by a...

Buzau-based plastic producer Metaplast (RASDAQ:METL) has joined the list of companies that have filed for insolvency in order to protect their business, after having incurred severe consequences of the ongoing economic crisis.

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 prolonged disagreements in the Government began disrupting the leu and the stock exchange two weeks ago, as the two are struggling to handle the uncertainty that our "elected officials" have "bestowed" upon them.

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,...

As listing a company on a regulated market such as the Bucharest Stock Exchange or the London Stock Exchange appears to be something increasingly difficult to achieve, Fondul Proprietatea (Property Fund, FP) has decided that the non-regulated...

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...

Lucian Croitoru, Advisor to the Governor of the National Bank of Romania (BNR), believes that the ongoing political turmoil is affecting economic variables.

Prospectiuni (BSE:PSN), controlled by the Romanian-born businessman Ovidiu Tender on Monday acquired 75,000 own shares worth 178,725 RON. The price was 0.2383 RON/share.

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.