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American authorities last week imposed restrictions on compensation packages in the banking sector and in other major companies bailed out by taxpayers, which is unprecedented in the United States.

Over the course of last month, "Ceramica" Zalău lowered its stake in construction materials maker "Cemacon" Zalău (symbol: CEON) below 5%, earning over 1.12 million lei, according to reports posted on the Rasdaq website.

Chinese-based Zhengzhou Top Rolling Technology Co. announced on Friday that it is in talks with steel pipe maker Intfor Galaţi, in order to expand their cooperation in steel production projects, according to Xinhua.

Chinese economy grew 8.9% in the third quarter, this being the largest growth in the last year, due to the governmental stimulus packages.

Credit Suisse Group AG, the largest bank in Switzerland by market value, reported a third straight quarterly profit on gains from trading.

Daimler AG, the world"s second largest luxury carmaker, is planning to invest 3 billion EUR (4.5 billion USD) in its factories in Germany with a view to expand the portfolio of compact models.

Shareholders of Viromet Victoria decided in the beginning of this week to close the company"s import-export office of Bucharest, while at the same time keeping the other 14 lucrative facilities in the county of Braşov.

Aviva plc. will convert Eastern European subsidiaries into branches and manage all such operations through one company based in Ireland, the insurer announced yesterday.

Hyposwiss Danube Tiber, one of the most active foreign investors on the Bucharest Stock Exchange (BSE) after Julius Baer, holds 7.8 million EUR worth of shares in financial investment firms SIF3 Transilvania and SIF5 Oltenia, according to the...

The Mayor of Bucharest, Sorin Oprescu, yesterday announced that he submitted with the Civil Section of the Court of Bucharest two summons for Millenium Building Development, the developer of the "Cathedral Plaza" project, a 19-floor tower...

The National Securities Commission (CNVM) yesterday rejected the evaluation reports of the two companies owned by "Rompetrol" listed on the Bucharest Stock Exchange, based on which KazMunaiGaz was supposed to launch the squeeze-out...

During an official visit to Bucharest yesterday, U.S. Vice President Joseph Biden thanked Romanian authorities for supporting the new missile shield system, which U.S. President Barack Obama wanted to deploy in Europe.

CEZ has announced the acquisition of a 12 per cent stake in CEZ Servicii (CEZ Services) from investment fund Fondul Proprietatea for 1.6 million EUR.

The Commission for the Surveillance of the Private Pension System (CSSPP) yesterday published on its website, the Guide For Participants in The Private Pension System, which is intended as a useful tool for pension system subscribers, by allowing...

Millennium Bank entered the factoring market, offering customers with an annual turnover of over 500,000 Euros the possibility to outsource their receivables collection, according to a press release by the bank.

The energy production facilities in Turceni and Rovinari have announced new auctions to sell energy with delivery 2010, with starting prices of 204 RON/MWh and, respectively, 207 RON/MWh.

Allianz-Tiriac Pensii Private (Allianz-Tiriac Private Pensions), the second largest player on the Pillar II tier if the private pension system, has reduced its share capital 11.7 times to 29.99 million RON, after the management firm was forced to...

The Private Pension System Supervisory Commission (CSSPP) yesterday launched "The Participant"s Guide To the Private Pension System," which is intended to be a practical tool for the beneficiaries of the private pension system in...

It"s not the current political crisis that we should be concerned about, but its potential.

The current exchange rates for the major currencies are not affecting the recovery of the global economy, according to International Monetary Fund (IMF) First Deputy Managing Director John Lipsky, who anticipates moderate recovery in 2010.

The number of cars produced in China in the first ten months of 2009 passed the 10 million mark, the Association of Chinese Automakers (CAAM), said. Thus, China could become the world"s largest carmaker this year. The only other countries to...

Continuously declining interest rates offered on bank deposits and the high volatility of the capital market are making it increasingly difficult to decide on a safe way to invest personal savings and, of course, secure the highest profit in the...

OPEC said it would not be "comfortable" if the price of crude oil returned to USD100/barrel, says the Cartel"s secretary general, Abdalla El-Badri.

The negotiations between Prime Minister Designate Lucian Croitoru and the representatives of the "transparent parliamentary majority" formed by PSD+PC, PNL, UDMR and the parliamentary group of the minorities other than Hungarian ended in...

Mircea Băsescu the president"s brother and Maria Cazacu, the daughter of the former Defense Industry Department of the Ministry of Economy, Aurel Cazacu, have officially exited Desintco SRL, after the Trade Registry last week recorded that...

Crude oil jumped over 80 USD/barrel on the New York Mercantile Exchange yesterday, for the first time since October 2008 as the USD plunged to a 14-month low against the euro, thus stimulating the demand for raw materials.

The management of the Bucharest Stock Exchange has made it a priority to attract foreign investors, as their exodus from the market has had a significant impact.

Bulgaria intends to reduce the value-added tax (VAT) from 20 per cent to 16 per cent by the end of the term of the current Government, stated Bulgarian Finance Minister Simeon Djankov.

Public spending with state pensions will increase on average, across the entire European Union, from 10.2% of the GDP in (in 2010) to 12.5% (in 2060), due to a slowed down birth rate, population aging and decrease, with the situation expected to...

Iberdrola Renovables yesterday announced the opening of an office in Bucharest as part of its ongoing effort to expand operations in Eastern Europe.

Univers, the federation of trade unions in the energy industry, yesterday announced plans to stage protests as of 28 October, as a consequence of a major labour conflict taking place within E.ON Energie Moldova.

The cooperation memorandum between Romania, Hungary and Austria for the development of the regional energy market will be finalized soon.

The appointed Prime-Minister Lucian Croitoru has begun negotiating with the political parties for the creation of a government that would pass the vote of confidence in the Parliament.

The systemic crisis which Romania has been brought to - a crisis setting in amid profound imbalances in employment and the real economy, combined with a surge in public and private debt - has reached endemic proportion and stands unprecedented in...

Hotel operators in Brasov are one step ahead of the Romanian Government as many of them have made significant investments in green energy and are now offering tourists environmentally-friendly services.

Carrefour SA, the largest retail group in Europe, has decided to sell operations in Russia and leave this market.

Japan"s Financial Services Authority recommended that the Japanese government punish "BNP Paribas Securities", the Japanese brokerage division of "BNP Paribas" SA, over a 2008 convertible bonds issue, by now defunct developer...

Europe"s largest car-maker, German "Volkswagen" AG, will suggest the issue of a maximum of an additional 135 million non-voting preferred shares, in order to help finance the merger with "Porsche" AG.

The appointed prime-minister, Lucian Croitoru, said on Saturday, in a press conference, that in the time elapsed since his appointment as prime minister, he worked on the governing program together with his colleagues in the NBR.

The political crisis and financial difficulties have brought local public administration on the brink of collapse.

By the time the presidential elections take place, we might have three Prime Ministers to one crisis, but no real Government: a dismissed, but still acting Prime Minister, a Prime Minister of the "transparent majority" and a Prime...