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Staff expenses should be reduced this year by eliminating 100,00 jobs, but this kind of mass layoffs require a strong political will, said Lucian Croitoru, advisor to the governor of the NBR, who said he doesn"t rule out the use of unpaid...

Sibiu-based construction Concefa SA last year saw its revenue decrease 43%, from 164.9 million lei to 93.4 million lei.

The value of gross subscribed premiums for CASCO insurance dropped 6% last year, and that of RCA premiums (ed. note. - Civil Auto Liability) increased 23%, but the value of damage payments increased significantly for both types of policies, the...

The Romanian government could sell some of its holdings in several companies listed on the stock exchange, such as Petrom and Transelectrica, or in companies which will be listed, which include Romgaz, subsidiaries of Enel and E.ON, and will hold...

The vice-president of PSD, Victor Ponta, asked the current government to honor its "promise" made nine or ten months ago, when the PD-L - PSD government passed a decision to guarantee the loan of Oltchim.

Braşov-based IASON SA, specializing in the manufacture and distribution of textile materials, saw its losses grow to 2.084 million lei in 2009, from 1.710 million lei, according to the preliminary financial statement sent to the Bucharest Stock...

The management of Atrium Centers yesterday announced that store openings in Atrium Center Arad, the first mall in the city, will continue.

The Romanian Securities Commission (CNVM) yesterday approved the project of the Alternative Trading System (ATS) developed by the Bucharest Stock Exchange of Bucharest, named CAN-BVB, almost two years after the project was proposed for the first...

Yesterday at 17.30, the Ministry of Transports announced that Vinci-Aktor, which was supposed to build the Comarnic-Braşov highway in exchange for 1.2 million Euros, unilaterally terminated the concession contract. The notice received by the...

The Romanian Securities Commission (CNVM) yesterday extended until May 15th the deadline by which the Proprietatea Fund was expected to file the documentation needed to register with the Commission, CNVM Commissioner Bogdan Chetreanu said for BURSA.

Cesarom, controlled by Austrian manufacturer Lasselsberger, is expecting its business to increase 10% this year, even as the market is expected to shrink 10%.

"Teraplast" Bistriţa, specializing in the production of construction materials, and Serbian company "Ferrodil", intend to set up a joint venture allowing "Teraplast" to open a warehouse in the former Yugoslavian region and...

Over 800 cases of electoral fraud uncovered during the presidential elections were recorded by the Romanian police, between November 22nd 2009- March 1st, 2010, according to an official statistic of the Ministry of Administration and Internal...

Shareholders of "Avicola" Braşov have agreed to have the company participate in an agricultural cooperative in the county of Alba, in which it will hold a 20% stake, and will invest 2,000 lei in its share capital.

Brokerage firm "Broker" Cluj reduced its stake in construction material manufacturer "Cemacon Zalău" (symbol: CEON) to 10%, after selling over 2.45 million shares for 381,700 lei, according to a report published on the website of...

The American Department of Justice is investigating whether some of the largest companies in the technology sector agreed not to poach each other"s employees, thus breaking antitrust laws, according to the Wall Street Journal, quoted by Mediafax.

The newspapers are filled with ads in which the National Tax Administration Agency auctions off the assets of companies, from apartments and land, to cars, computers or furniture.

The crisis did what the Romanian authorities and companies failed to do.

The company "Uztel" Ploieşti intends to increase its share capital by 2.2 million lei cash. The initial plan was supposed to increase the share capital by 19.2 million lei to 30.2 million lei, but some of the members of the Association of...

Employees of Electrica SA and of its branches could gain in court the right to have the state owned company draft the methodological norms for the sale of as much as 10% of the company to its employees.

The price of fuel in Romania depends on the quotations of the international markets and competition among producers. Another factor affecting price is the fiscal policy and the evolution of the USDRON exchange rate.

The state has over 130 million Euros in outstanding debt by various associations or private companies to which it sold or concessioned companies or farming land, according to a report by the Agency for State Properties (ADS), which was requested...

Prices on the Romanian residential market have been dropping for almost one year and a half and most specialists don"t expect a recovery before the second semester, a study made by Deloitte in the 27 EU member countries - "Residential...

"France Telecom", the French owner of "Orange", may invest up to 7 billion Euros (9.3 billion dollars) over the course of the next 5 years, in Africa and the Middle East, according to a statement by CEO Stephane Richard.

According to the budget of the ministry for 2010 which was approved by the government, the Office of the State Interests and Privatization in the Industry Sector, controlled by the Ministry of the Economy, expects to cash 200 million Euros.

The lie that Realitatea TV has been airing for the last two days, that prime minister Emil Boc had snatched the microphone from the female reporter the station had sent over to the senate, was yesterday revised to include other versions ("Boc...

The major government project to develop the state-owned drug industry, the National Pharmaceutical Company, may only have a budget of 7.7 million Euros available for investments this year, (around 31.8 million lei), according to the budgets of...

For hours on end, Realitatea TV yesterday displayed the headline "Boc snatched the microphone away", playing over and over the clip which showed the Prime Minister telling the journalists gathered at the Senate, that some news channels...

Resuming lending is the most important goal for bankers in 2010, as many banks have already cut the interest rates for loans.

The Euro yesterday continued its decline on the foreign exchange markets, trading at a two-week low against the dollar, following the reports announcing the stagnation of the Eurozone economy in Q4 2009.

Russian energy giant Gazprom has begun work Nord Stream gas pipeline, which will carry natural gas from Russia to Europe, beneath the Baltic Sea, company officials announced.

In their general meeting of March 16th, the shareholders of brokerage firm "Intercapital Invest" approved the buyback of 5% of the company"s stock (337,513 shares), and their distribution to employees.

Russia"s proposal to merge its state-owned energy giant with Ukraine"s energy company "Naftogaz", is worthy of attention and will be reviewed by the government, said Ukrainean prime-minister Mykola Azarov.

Electrocarbon Slatina, maker of industrial electrodes, has doubled its turnover over two times in the first quarter, from 14.92 million lei to 33.05 million lei, while turnover increased 20%, from 1.4 million lei to 1.69 million lei.

"Comcereal" Prahova, owned by businessman Ioan Niculae, will take a loan of 8 million lei this year from "Raiffeisen Bank", an amount similar to last year"s, in order to acquire grain and oleaginous plants.

Two delegations of the IMF will arrive in Athens today, to review the progress made by Greece in implementing its fiscal austerity measures.

According to the data of ONRC the Greek direct investments in Romania amounted at the end of 2009 to 1.37 billion Euros compared to 655 million at the end of 2008.

Slovenians of KD Capital Group have been negotiating for several weeks the sale of their Romanian brokerage, KD Capital Management, after they announced at the end of last year that they are looking to downsize their operations.

It seems things aren"t what they seem a bit different in the case of the resignation of Daniel Ţepeş (of March 25th) from the Board of Directors of the Bucharest Stock Exchange (BVB), a topic on which "BURSA" has already written four...

The overly busy schedules of about 20 foreign investors yesterday included the words "take a look at what the BSE has to offer", while attending an event in the heart of London.