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The reform of the pension system is scheduled to begin next year, after the new retirement law gets passed by the Parliament.

The National Highway and National Road Company (CNADNR), through its Regional Road and Bridge Divisions (DRDP), has concluded road maintenance contracts during summer/winter, funded from the state budget.

Romanian Commercial Bank (BCR) offers short term loans for farmers, based on a partnership signed with the Agency for Agricultural Payments and Interventions (APIA) and the Fund for Guaranteeing Rural Loans (FGCR), according to a press release by...

Bucharest Mayor, Sorin Oprescu, and the General Manager of Apa Nova, Bruno Roche, yesterday signed an appendix to the contract by which Apa Nova provides water and sewer services to the City of Bucharest.

British chocolate maker "Cadbury" Plc continues to reject the public takeover offer from American giant "Kraft Foods" Inc., which it called "derisory", and announced it was expecting an increase in turnover of 5-7% in the...

Romania"s Constitutional Court (CCR) yesterday rejected claims by Social Democrat Party that the second round of the presidential elections which was held on December 6th, was rigged, sources claim.

Guy Marie Poupet was voted as chairman of the Board of Administration of BRD - Societe Generale, as part of yesterday"s General Shareholder"s Assembly, with his four year tenure set to begin on January 1st 2010.

The court of Bucharest today admitted the request for the insolvency of Flamingo International, after its subsidiary Flanco had received the green light for the same proceedings, allowing the financial reorganization of the company by protecting...

Political instability, which bankers, analysts and businesspeople agree is the greatest threat for Romania"s economy, continued over the weekend, with the Central Electoral Office deciding on Friday to recount annulled votes in Romania"s...

Shareholders of Avicola SA Braşov approved the decision of the Board of Administrators to take out a 50 million lei loan for a maximum period of 360 days, according to a communiqué sent to the Bucharest Stock Exchange.

Romania"s state-run freight rail company CFR Marfa plans to lay off nearly 6,400 staff out of a total of 16.220, as of March 2010, without compensatory payments, Iulian Măntescu, head of the Engine Drivers Federation said on Friday.

The board of Administration of "Elerom" Roman (symbol: ELER, on the Rasdaq tier of the Bucharest Stock Exchange) summoned a general shareholder"s assembly on January 11, 2010, with the main point on the agenda being the approval of a...

France may impose a 50% levy for bonuses in excess of 27,000 Euros (USD39,800) earned by bankers in 2009, after Great Britain recently decided to introduce a 50% levy on bonuses which exceed GBP 25,000 (EUR 27,500).

If the government hadn"t entered the agreement with the IMF in March, the EURRON exchange rate could have gone to 6 lei, Lucian Croitoru, advisor to the governor of the Romanian National Bank, said yesterday in a EU-Cofile seminar, held in...

Management of Rafo has begun negotiations with four foreign banks for the taking out of a EUR 330 million loan, but according to sources from inside the company, the banks conditioned the approval of the loan on Rafo exiting the insolvency...

Almost one third of the total of issues of bonds launched by Romanian mayoralties entered the market in 2009, according to data published by the BSE.

Analysts of "Target Capital" estimate a target price of 0.44 lei for shares of household appliance maker "Electroargeş" Curtea de Argeş (symbol: ELGS), 29.02% over the price at which shares of ELGS were trading yesterday and...

The crisis has severely affected the Romanian private sector, with over 15,300 companies filing for bankruptcy in the first three quarters of 2009, and this number is expected to increase to 20,000 by the end of the year, according to Bogdan...

The exceptional performance of the BURSA newspaper, in which it predicted the tie between the candidates, six days before the elections, must not go unnoticed.

The volume of construction works dropped 15.6% in the first ten months of the year, compared to last year"s similar period. According to a communiqué by the National Statistics Institute (INS), all structural elements of the construction...

"LUKoil", the largest Russian private crude producer, saw its earnings drop by half at the end of Q3 2009, due to declining prices.

The next evaluation mission of the IMF, on which depends the awarding of the third tranche of the loan, will take place when the Romanian authorities will be ready, Tonny Lybek, the IMF representative for Romania yesterday announced.

Shareholders of Construcţii Aeronautice SA Ghimbav (Aeronautical Constructions Ghimbav) have empowered the management of the company to look for possible investors for a joint venture which would inherit the company"s productive assets, as...

"Sberbank", the largest Russian bank, saw its profit drop 82% in Q3 2009, as it raised its provisions against bad loans by $3.6 billion.

The shrewd logic of Romanians proved its long term mettle on December 6th, when no one else believed Romanians were still capable of thinking rationally.

The conditions of the apocalyptic scenario suggested yesterday by BURSA were fulfilled when, after the Central Electoral Office (BEC) announced that Traian Băsescu won by a very thin margin, the secretary general of the PSD, Liviu Dragnea, said...

The National Tax Agency (ANAF) announced on Friday, in a press release, that by November 27 2009, 1636 taxpayers that made real estate transactions between 2006-2008. 33 notifications were submitted to the prosecutors, for damages worth...

Claudiu Stafie, Secretary of state in the Ministry of the Economy and Chairman of the Board of Administration of IAR Ghimbav, announced that the Braşov based helicopter maker will sign the agreement with "Premium Aerotec", in the coming...

The American currency last week registered the largest rise this year against the Euro, following the unexpected drop in unemployment in the United States.

The European Bank for Reconstruction and Development (EBRD) and "Raiffeisen Bank Aval" JSC on Friday signed an agreement for a subordinated loan of 150 million US dollars, intended to bolster the capitalization of the Ukrainian division...

It"s all happening all over again: endless lines before the ballot boxes, allegations of fraud, votes bought using money or gifts, complaints with the Police...

Present on the domestic natural gas market since 2004, WIEE Romania has constantly increased its market share ever since.

European Central Bank will eliminate starting next year, the emergency operations concerning the funding of the banking market, as the Eurozone economy is beginning to recover.

Ludovic Orban denied the allegation that Adriana Săftoiu asked Traian Băsescu to appoint her husband Claudiu Elvis Săftoiu as head of the SIE (Foreign Intelligence Service) while at the same time accusing Băsescu of "nepotism" for the...

Real estate consulting firm Cushman & Wakefield, the main leasing agent of AFI Palace Cotroceni, announced that it has leased 163 stores - around 74% of the total of 220 areas which have been rented so far.

The county council of Iaşi intends to create a fund for investments and guaranteeing loans.

At a time when domestic brokerages are fighting over who gets a bigger share of the Sibiu and Bucharest exchanges, brokerage firm "Vienna Investment Trust" is targeting new markets.

Yesterday"s unrest in Timişoara seemed to have eclipsed the news about the extraordinary even which happened in the same city: PSD admitted its faults, taking responsibility for the hardships it has caused the Romanian people during...

The price of gold yesterday reached a new all-time high, going to USD 1,200/ounce, on the New York market, in reaction to the depreciation of the dollar.

Gas imported from the Russian Federation will have a share of up to 30% of the household gas consumption in Q1 2010, according to data supplied by the ANRE (the energy market regulator).

All citizens of Timişoara hate communism, it"s just that it seems they haven"t yet agreed on the exact meaning of the word; yesterday, protesters were yelling in the Opera Square that members of the PSD are communists, -...