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Severe drought has reduced Romania"s crops by one third this year, causing losses in excess of 1 billion RON against the broader background of a global economic crisis, shattering hopes that the agriculture might be the key to economic...

Inflation in Russia will probably not exceed 10% in 2009, which allowed banks to lower their refinancing rate several times since the beginning of the year, Gennady Melikyan, deputy governor of Russia"s Central Bank announced yesterday.

The company Avicola Braşov, controlled by businessman Ioan Popa, owner of the Transavia Alba-Iulia group, intends to take out a 50 million lei production loan for a period of one year.

"To analysts and financiers, Romania"s current economic situation looks like the script of an economic horror movie... if such genre existed," according to Victor Safta, the Managing Director of the Romanian subsidiary of X-Trade Brokers.

The banks that lent 120 million EUR to CFR Marfa (the Romanian Railway Company - Freight) in November 2007 are now asking the Government to guarantee for the loan, arguing that the debtor has not fully observed its contractual commitments.

First, Mircea Geoana had the intention that the "transparent majority" pass a law to enable the dismissed Government to present the Parliament with a draft Budget for 2010.

The Orşova Shipyard (symbol: SNO) will export its 11th ship this year.

The ranking of major arrears towards the state (accumulated by major companies) has seen spectacular changes, according to the latest reports by the Ministry of Public Finance, published at the end of September 2009.

Although citizens have been informed about the privately managed mandatory pension funds (Pillar II), they do not understand in fact how the entire system works, according to Shah Rouf, CEO of Aviva Asigurari de Viata (Aviva Life).

In October, four new companies joined the markets managed by OPCOM (ed. note: the Romanian energy market operator), namely the Day-Ahead Market (PZU), the Centralized Bilateral Contracts Market (PCCB), The Centralized Market for Bilateral...

The net profit of "Socep" Constanţa (symbol: SOCP on the Bucharest Stock Exchange), at the end of Q3 2009 dropped eight times YOY to 846,200 lei, due to a 23% drop in turnover to 34.81 million lei (8.22 million Euros), according to the...

"Turbomecanica" (symbol TBM on the Bucharest Stock Exchange) reported a loss of 4.73 million lei, after the first nine months of the year, far less than last year"s Q3 loss of 20.18 million lei, according to the report sent to the...

Erste Group Bank AG, the majority shareholder in Banca Comerciala Romana (the Romanian Commercial Bank - BCR), reported a net profit of 228 million EUR for the third quarter of the year, slightly up from the corresponding period of 2008, amid an...

Romania seems unable to set its own politics straight, although the country has a tremendous economic potential, given the "incredible "funds it could attract and use in order to counteract the effects of the crisis, Erste Group CEO...

Boc isn"t packing his stuff.

Romania lost the 1 billion loan from the European Commission which it was supposed to receive by the end of 2009 in order to fund its current deficit, and runs the risk of compromising the last installment of the loan from the IMF worth 1.5...

Petrom yesterday inaugurated a new natural gas processing unit for in Midia, near Constanţa. With a capacity nearly double that of the old installation, the unit can take over the entire offshore natural gas production of Petrom, according to a...

The United States economy has come out of recession, concluding the third quarter of 2009 with the first positive results after three consecutive quarters of decline.

Unilever is the first tenant of the industrial park Ploieşti West Park, developed by Alinso Group in association with Petrică Uşurelu, founder of the Piritex Group.

First, she idolized him.

The price of the services provided by notaries in Romania, benchmarked as the ratio between referenced fees and the average salary in the country, is 14 times more than in Germany, 7 times more than in Portugal, 6 times more than in Austria or...

American president Barack Obama yesterday said, after the publication of data on the United States GDP for the third quarter, that "recession is about to dissipate", but warned there is still a lot left to do to stabilize the economy.

ArcelorMittal SA, the world"s largest steel producer, has reported a profit of 903 million USD for July - September 2009, thus ending a run of three consecutive quarters in the red.

Less than 10 per cent of the total number of homes in Romania have been thermally rehabilitated, according to building materials producer Baumix.

Animal farmers picketed the Ministry of Agriculture and the Ministry of Finance yesterday, being extremely displeased with the delays in the disbursement of subsidies and with the very low value of such subsidies.

Banca Transilvania (symbol: TLV) reported a net profit of 48.27 million lei at the end of Q3 2009.

The Romanian currency yesterday dropped by almost one "ban" (0.23%), to 4.2995 lei/Euro, the highest exchange rate announced by the Central Bank since February 17th 2009 (4.3096 lei/Euro).

In an interview with a TV station given yesterday, President Traian Băsescu said that he has notified the officials of the IMF that there are two things that aren"t negotiable: the single tax rate and the VAT.

Romanian business associations will ask the representatives of the International Monetary Fund (IMF) to accept a reduction of the value-added tax (VAT) by three or four percentage points for one year, applicable only to consumer goods and food.

Almost 60% of small and medium enterprises in Bucharest outsource their IT infrastructure, according to study by Ka&Te Associates, which used a sample of 200 companies.

The Agency for Agricultural Payments and Interventions (APIA) disbursed around EUR 4.9 billion, between January and October 2009, from European funds and the state budget, in agriculture aids.

The average period for obtaining a value-added tax (VAT) return this year is approximately three months longer than it was in the past few years, according to the records of R&M Audit.

Dassault Systemes SA has agreed to buy the sales and customer support unit of the U.S.-based International Business Machines Corp. (IBM) for 600 million USD in cash.

A mission of the IMF will arrive today in Bucharest, for the second evaluation of Romania"s economic program.

Neither Johannis, nor Croitoru.

The financial crisis will take a heavy toll on the Q3 results of most of the companies listed on the Bucharest Stock Exchange (BSE), according to analysts, who expect that increasingly more companies will report declining figures.

Banks must continue their reforms and increase their base capital, says Christian Noyer, member of the governor board of the European Central Bank (BCE).

CBRE Eurisko, the exclusive agent for the shopping centre Arena Mall - Bacau, yesterday announced to have successfully brokered the lease of 520 square metres to German-based footwear retailer Deichmann.

The National Guarantee Fund of SME Loans (has raised the limit granted to Millennium Bank for First House loans to EUR 25 million, from EUR 20.8 million, according to a press release by the bank.

Impact Developer & Contractor - Bucharest (BSE:IMP), a real estate developer controlled by Dan Ioan Popp, has so far through the year concluded over 150 transactions worth a total of 66 million RON, up by 4 per cent from the corresponding...

Romania has sufficient wheat on stock to ensure domestic consumption without making any imports until the end of the year, according to representatives of the professional associations of wheat farmers and the milling and baking industry...

Eight months through the year, State-run Romanian Railway Company SA (Caile Ferate Romane - CFR) landed 667 million RON in turnover, down by 11.8 per cent from the corresponding period of 2008.

Two months before the presidential elections - neither Băsescu, nor Geoană like having to come before voters as adversaries, while being partners in the government.