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The economy of the Eurozone exited its deepest recession since WW2, as exports from France and Germany recovered in the third quarter, compensating for the drop in spending caused by consumer wariness.

Shareholders in IAR - Ghimbav have decided to relieve Aurel Cazacu of his duties as Chairman of the Board of Directors and replace him with Constantin Stafie.

"ArcelorMittal", the world"s largest steel maker, today decided to acquire a 13.9% stake in its Czech arm "ArcelorMittal Ostrava" for $ 404.3 million (6.88 billion Czech Crowns) from a division of "PPF Group" NV.

Governments may need up to seven years to sell their stakes in banks bailed out during the financial crisis, due to the complexity of the bailout agreements, as well as due to the economic environment which is unfavorable to any divestment,...

The Ministry of Finance will not accept yields in excess of 10 per cent p.a. on governmental securities issued this year, Secretary of State Bogdan Dragoi told the CEI Summit Economic Forum.

• Farmers may not receive State aid in 2010 as the European Commission has not been notified and the dismissed Government cannot do so • The stake: over 1 billion RON • Parliament receives on the same day two different draft laws regulating the same...  

Romania will continue to resort to loans to finance its budget deficit for 2010, estimated at 5.9% of the GDP, Finance Minister Pogea yesterday said, during the CEI Summit Economic Forum.

CEI - The Central European Initiative supports regional political and economic cooperation between countries of Central and Eastern Europe.

Privatizations in the energy sector should continue, World Bank officials said, during the CEI Summit Economic Forum.

World Bank officials expect Romania"s potential economic growth rate to remain around 2% over the next two years, down from the 4% forecasts made in the previous years.

AFI Palace Cotroceni, the largest mall in Eastern Europe, was officially launched Tuesday night, after being open for the public on October 29th.

The State Asset Recovery Authority (AVAS) has announced intent to organise an open auction to sell 1,128,055 shares equal to 9.5716 per cent in the share capital of Iasi-based poultry farming company Avicola (listed as AVIM on the RASDAQ platform...

Dutch-based financial group ING Groep NV concluded the third quarter of the year with a profit, following an improvement in market conditions.

The Ministry of the Economy yesterday sent to Brussels the necessary documents for receiving the opinion of the European Commission on the cancellation of the debts of the National Coal Company (CNH), which has 2.7 billion lei in arrears.

The amounts invested by the European Bank for Reconstruction and Development (EBRD) in Romania nearly doubled this year, through loans and stakes in various companies.

Romania has passed the peak of the crisis and the economic condition has stabilized lately, European Bank for Reconstruction and Development (EBRD) Chief Economist Erik Berglof stated yesterday during a roundtable of the ministers in charge of...

Members of the Parliament are now reviewing the extension of the measure adopted last year which subsidized the price of gas produced domestically for fertilizer makers.

After more than half a year of debates and procrastination, the Senate yesterday approved the draft law increasing the limitation of holdings in the financial investment firms (SIFs) from 1 per cent to 5 per cent.

Gold has reached yet another historical high on London and New York markets as the dollar continues to decline. Spot gold prices gained 11.53 USD (1 per cent) to a record 1,117.33 USD/once in London, then lost a little to 1,116.13 USD/ounce.

The International Monetary Fund (IMF) conditions the awarding of the EUR 1.5 billion installment that our authorities are expecting in December, and by the structure of spending mentioned in the Law of Budget for 2010, as the simple approval of...

The decision to move the Trade Registry from under the Authority of the Ministry of Justice and Citizen Freedoms (MJLC) under that of the Romanian Chamber of Trade and Industry (CCIR) creates major difficulties for Romanian companies, as the...

Loans will not get cheaper, at least not until next year, as banks will focus on lending to the state, since they are not willing to take the risk on lending to companies and individuals, analysts say

Russian energy group Gazprom could claim penalties from European Union customers for falling short of contracted purchase volumes by 8-9 billion cubic meters of gas.

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.

"Vodafone Group" Plc, the world"s largest mobile telephony operator, reported a 2.9% increase in earnings, during the first fiscal quarter and plans to trim its expenses by an additional GBP 1 billion (USD 1.66 billion).

Banca Comerciala Romana (the Romanian Commercial Bank, BCR) has started a new line of business, the BCR Fleet Management, which will lease and rent light road vehicles.

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,...

Most of the fertilizer produced domestically using subsidized gas gets exported, because Romanian farmers can"t afford to buy them.

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.