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Pfizer Inc., the world"s largest drug maker, will close six of its 20 research and development facilities and cut jobs in the U.S. and Britain.

The Romanian brokers" dream to trade shares in the Fondul Proprietatea (the Property Fund) on the newly set up Romanian Over The Counter (ROTC) platform of the Brokers Association seems farther and farther as several minority shareholders and...

The process began in July and included development workings in the former credit centers, located in 15 cities - Arad, Bacău, Braşov, Bucharest, Craiova, Cluj, Constanţa, Galaţi, Iaşi, Oradea,...

Some of the employees in the electricity distribution and supply systems have or will receive salary raises this year.

Turnover of "Agrosel", a company specializing in supplying farmers with seeds, reached EUR 5 million in 2008.

Designated prime minister Liviu Negoiţă yesterday presented the structure of his government with which he intends to gain the vote of confidence from the Parliament.

Lack of funds for medication and the shortage of drugs in drugstores endangers the life of over 3 million chronic patients.

Increasingly more buyers of newly built homes, Romanians and especially foreigners, are suing the developers who have failed to observe their contractual commitments.

The Single Salary Policy Law concerning State employees was published in the Official Journal of Romania yesterday, along with the promulgation decree signed by President Traian Basescu.

Starting next year, Romania will be allowed to export fresh pork meat and products containing pork meat produced in areas free of hog cholera, following a decision of by the Standing Committee on the Food Chain and Animal Health (SCFCAH), during...

The Royal Bank of Scotland Group Plc. (RBS), the largest Government-controlled bank in Britain, has reported losses in the third quarter of the year, because of provisions in the amount of 3.3 billion GBP (5.5 billion USD) created for bad loans...

"British Airways" Plc, the third largest carrier in Europe, posted record losses in H1 2009, due to declining passenger traffic, and ticket pricing.

"Lafarge" SA, the world"s largest cement maker, announced a 38% drop of its net profit YOY, due to the economic crisis which caused a slump in the construction sector.

Lafarge Romania incurred a 34 per cent decline in the volume of cement sales made in the first nine months of the year compared to the year-earlier period, according to a financial report of the French-based group quoted by NewsIn.

"OTP Bank" Nyrt., the largest Hungarian bank, paid EUR 700 million (USD 1 billion) to the Hungarian state, half of the EUR 1.4 billion loan granted by the government on March 26th, 2009.

Over half of the approximately 600 employees of the petrochemical unit of the Arpechim chemical plant in Pitesti will be laid off by the end of the year, according to Agerpres.

British Airways Plc., the third largest airline in Europe, posted record losses for the first half of the current fiscal year, following a significant decline in passenger traffic and fares.

The Interagro group, on Friday, in Zimnicea, inaugurated the first bioethanol (ecological fuel) refinery in South-Eastern Europe.

After having inaugurated a new store in the Iulius Mall - Suceava a week before, Picioru" Gras opened their third store in the Iulius Mall - Iasi last Friday.

IT and household appliance retailer Flamingo International (FLA) announced on Friday that Selgros Cash&Carry has filed a lawsuit against it, asking for the bankruptcy of the company, for a debt of almost 70,000 lei.

Primary energy resources dropped 18.4% in the first ten months of 2009, and electricity resources dropped 12.5% YOY over the same period.

Investments made by the state can not solve the enormous demand for homes, which is estimated at a million of units.

Shareholders in the Bucharest Stock Exchange (BSE) will convene in a General Meeting today to decide upon amendments to the articles of incorporation, which have been proposed in line with the plan to self-list BSE.

Hidroelectrica has been negotiating for some time the taking out of several loans for investments with a total value of 300 million Euros.

There are significant risks that the budget deficit could reach 8.5-9% of the GDP, in 2009, which would make unrealistic the plan for it to reach 5.9% of the GDP in 2010, by lowering spending, which means "harsh measures would be required in...

U.S.-based carmaker General Motors Co. (GM) has announced plans to reduce the spending of their German-based division Opel by 30 per cent and is prepared to cut some 10,000 jobs of the total of 50,000 jobs in Europe.

The State"s debts to private businesses have reached 8 billion RON (some 2 billion EUR), according to an announcement made by Ioan Cezar Coraci, President of the business association UGIR 1903, during a press conference yesterday.

Avicola Braşov had a profit of 4.6 million lei at the end of Q3 2009, up four times over Q3 2008, according to the earnings report sent to the Bucharest Stock Exchange.

The Minister of the Economy, Adriean Videanu, met with Joschka Fischer, the political advisor of RWE for Nabucco, in order to discuss current aspects of the Nabucco project, as well as the priority elements which need to be considered in order to...

The Constitutional Court did not need to wait and see who would be the next president, to rule on whether the laws that the parliament voted down were in compliance with the constitution or not.

The Parliament yesterday rejected the Croitoru cabinet.

Nine months through the year, Elerom SA - Roman (listed as ELER on the RASDAQ platform of the Bucharest Stock Exchange) reported a year-on-year increase in turnover by 1,247,371 RON to 8,291,771 RON.

Moldova - Vaslui (listed as MODY on the RASDAQ platform of the Bucharest Stock Exchange) concluded the first nine months of the year with a turnover of 642,293 RON, up nearly 50 per cent from the 430,632 RON reported at the end of September 2008.

The Competition Council last week started an investigation concerning possible frauds committed by the Arms Department (Military Base 02550 Bucharest) of the Ministry of Defence in organizing tenders between 2005 and 2007.

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...

The appointed Prime Minister Lucian Croitoru, will present today before the Parliament its governing program, hoping to obtain the vote of confidence from a Parliament that is predominantly hostile.

Turkmenistan, Azerbaijan and Iraq will be for sure among the gas suppliers of the Nabucco project, according to the RWE consultant for the project, Josckha Fischer.

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.