English Section

Info-Dip Insolvency Braşov, the trustee in bankruptcy of the Special Products Plant of Făgăraş, announces that starting with March 2nd, it will hold public auctions every Tuesday in order to sell off the company"s assets, worth an estimated...

"Tarom" SA had 1.5 billion years in revenue last year and a gross profit of 759,310 lei, according to the updated budget approved by the Ministry of Transports which was published in the Official Gazette yesterday.

Bulgaria and Romania are among countries "most at risk" from potential instability in from Greece after banks invested in central and eastern Europe, according to Morgan Stanley.

The first day of the tender offer for the 5.06 billion shares of "Rompetrol Rafinare" (RRC), initiated by the Rompetrol Group, ended with a surprise deal, by which 3.3 billion shares changed hands yesterday, through a total number of 25...

After raising the issue of the unjustified increase of the rates for the auto civil liability insurance policy (RCA) for the year 2010, the Association of Independent Auto Repair Shops (ASSAI) proposes several measures for eliminating abusive...

The Romanian Association of Construction Entrepreneurs (ARACO) sent an open letter to PM Boc requesting that the government consider increasing the funds available for guaranteeing loans taken under the "First Home" program from EUR 700...

The Romanian judicial system is at risk of grinding to a halt due to overworked judges, lack of funding, and inadequate work conditions, according to statements made for BURSA by officials in the sector.

Since the beginning of the year, the international press recently has been reviewing ancient history and literature in order to find the right terms for describing the current situation that Greece is in.

PD-L deputy Daniel Oajdea yesterday announced that he has filed a draft bill aimed at capping wages in several major public institutions: the National Securities Commission (CNVM), the Insurance Surveillance Commission (CSA), the Private Pension...

The Authority For State Assets Recovery has succeeded in having Eugen Benea, former manager of "Vitalef" Iaşi, appointed as receiver of "Nicolina" Iaşi.

The maximum amount guaranteed by the state under the "First Home" program will be capped at EUR 60,000 for those who buy completed homes, but it will be raised to EUR 70,000 - 75,000 for building new homes, PM Emil Boc said yesterday.

The remarkable event that everyone has been waiting for at the Bucharest Stock Exchange (BVB) is the election for the new management of the institution, scheduled to take place ten days from now.

The Association of Romanian Aerated Autoclave Concrete makers of Romania "PRO BCA" supports the continuation of the "First Home" program, and considers this measure as being beneficial for the recovery of the real estate market...

The energy savings certificate for buildings could become mandatory in March 2010.

The Ministry of the Economy yesterday announced that the provision of natural gas is happening normally and that over the course of the following days will remain around 8.9 million cubic meters/day.

The bill proposed by senator Iulian Urban concerning the revision of the law governing the operations of the National Integrity Agency (ANI) that would require journalists to disclose their political affiliations was rejected yesterday by the...

The chairmen of the five financial investment companies can now breathe a sigh of relief after the Commission for Economic Policy, Reform and Privatization of the Chamber of Deputies yesterday repealed the bill for raising the holding threshold...

Copper, crude oil and sugar are the top picks among commodities, with their prices set to rise due to increasing emerging-market demand and to supply constraints as the global economy gets back on track, according to Morgan Stanley.

"FlowTex Technology" SA, part of the "Dafora" group, signed a subcontracting agreement with German company "Hochtief Construction" AG, to perform the modernization of the wastewater treatment plant of Mediaş, the company...

The price of shares of the Proprietatea Fund have tracked the evolution of the main indexes of the Bucharest Stock Exchange (BET and BET-FI), over the course of the last three years, registering their highs during the heyday of the market -...

After several major foreign aeronautical companies politely declined its proposals for cooperation, "Avioane" Craiova is putting its hopes in the state in 2010 as well, hoping the former would help it survive until its long awaited...

Ukraine"s currency the hryvnia weakened yesterday after Prime Minister Yulia Timoshenko said yesterday"s vote was too close to call as opposition leader Viktor Yanukovych claimed victory.

The Romanian government yesterday approved the budget for the Administration of the Environment (AFM) for the year 2010.

The inflation forecast of the NBR for this year was revised upwards from 2.6% to 3.5%, while for 2011, the Central Bank predicts an inflation rate of 2.7%, according to the governor of the Central Bank, Mugur Isărescu.

Blue Air Transport Aerian SA last year requested the bankruptcy of SC Fotbal Club Rapid SA. According to information published on the website of the Court of Bucharest, last Thursday a new hearing took place on this matter.

"A dime a dozen". That seems to be the motto of the Tax Office when selling the products it has seized.

"Antibiotice" Iaşi was designated the most dynamic exporter as part of the ANEIR Awards (The National Association of Romanian Exporters and Importers) - 2009.

The construction of the first segment of the suspended highway will begin this year, the mayor of Bucharest, Sorin Oprescu announced yesterday.

The Government will draw up a Social Security Code, by which only poor citizens would qualify for receiving support from the state.

Prices of precious metals yesterday dropped in London and New York, as the dollar"s increasing strength puts it on an upward trend.

The Minister of the Environment and Forests, Laszlo Borbely, could earn 1.2 to 1.5 billion Euros by selling CO2 emission certificates by 2012.

Even though the strong appreciation of the leu took the market by surprise, analysts say that, unlike the other currencies in the region, the overall volatility of the leu is very low, as most of them rule out a speculative attack.

Spain, Portugal and Greece are facing important difficulties due to the state of their public finances, which is why they need to make some sacrifices, such as cutting wages in the public sectors, an official of the IMF said.

The global airline industry will need at least three years to recover after the significant decline in traffic caused by the recession, estimates Giovanni Bisignani, the general manager of the International Air Transport Association (IATA).

Russia"s economy saw in 2009 its largest drop in recent history, as the country relies heavily on exporting oil, the price of which dropped 77% from its 2008 peak.

Yesterday, American president Barack Obama proposed a $3.8 trillion draft budget plan for the 2011 fiscal year, up slightly from the this year"s current budget.

Businessman Ştefan Vuza, who owns a controlling interest in "Someş" Dej, and plans to build a renewable energy unit in Dej, is not concerned by his disagreement with two of the company"s shareholders, which he says is simply "much...

Loans denominated in lei taken by individuals and companies amounted to 79.7 billion lei at the end of 2009, and overdue payments have increased YOY to 4.342 billion lei. Overdue payments in lei increased 3.3% compared to November 2009.

Between September 2009 and January 11th, 2010, the National Fiscal Agency (ANAF) has initiated 1537 spot-checks of individuals that concluded real estate transactions between 2006 and 2008.

The five largest brokerage firms on the BSE will set up a consortium that would handle the listing of the Proprietatea Fund on the BSE, after being invited by the Fund"s management for preliminary discussions.

The European currency posted its largest monthly depreciation against the yen, losing ground against the dollar as well, on the back of fears concerning Greece"s financial situation.