English Section

"Electroputere" Craiova will layoff 350 employees starting October 1st, who will receive severance pay.

"Raiffeisen Bank" ended the first semester of 2010 with a net profit of 49.98 million Euros, down 5% YOY, but has seen its costs with provisions for doubtful loans and losses from 43.79 million Euros to 22.67 million Euro, according to a...

Just three consortiums and a brokerage firm entered the competition for the listing of the Proprietatea Fund, out of the thirteen candidates that acquired the tender book.

The buyer of the first bankrupt mall development project, which is seeing its deal contested, received the moneyh to acquire the project from the same bank that financed it in the first place.

Competition in the journalism universities all over the country was very heavy.

The Authority for State Assets Recovery (AVAS) is looking to postpone by three years the payment of the money owed to former FNI (National Investment Fund) clients, Aurelian Popa, the chairman of the AVAS said for BURSA yesterday.

While the projects to set up two new national energy companies - Electra and Hidroenergetica - are frozen, the Government is reviewing the possibility of setting up a third company, which would be supposed to operate in the renewable energy...

In the first semester of the year, "Boromir Prod" SA Buzău saw a net turnover of 51.7 million lei, down 9.77% YOY.

The company "Internaţional" Sinaia, specializing in hotel accommodation services, has seen a very small increase in its turnover compared to the first semester of 2009, from 3.82 to 3.84 million lei.

With its assets slowly gone to waste over the last twenty years, "Sericarom" SA, the only state owned company that raised silkworms, has seen its utilities disconnected, and runs the risk of entering bankruptcy in the coming two months,...

The management of "Dafora" Mediaş was forced to turn to the Ukrainian courts in order to recover the three million dollars which it is owed by a company for which "Dafora Ukraine" performed drilling works two years ago.

VES Sighişoara, a maker of stoves and enameled pots, ended the first six months of 2010 with a profit of 101,107 lei, after it had posted losses of 680,000 lei in H1 2009.

A Romanian businessman and a Latvian physicist are about to revolutionize the world mining industry, after they recently registered their invention with the European Patent Office (EPO) of Geneva.

Given the fact that the inflation rate exceeded 7% in July, due to the raise of the VAT, the interest rates offered by the banks for deposits don"t even cover inflation.

The Romanian Fund for the Guarantee of Bank Deposits, which has been appointed the bankruptcy trustee of the former Romanian Discount Bank (Banca Romana De Scont - BRS) in July sued Rafo SA Oneşti in order to recover 5.6 million lei from the...

"Teraplast" Bistriţa, one of the largest PVC makers in Romania, reported a net turnover of 93.9 million lei in H1 2010, up 19% YOY from 79.15 million lei, according to the financial statements sent yesterday to the Bucharest Stock Exchange.

In the first semester of 2010, "Rompetrol Well Services" (symbol: PTR) had a profit of 5.63 million lei, 29.5% lower than in H1 2009, even though the company"s turnover increased slightly to 35 million lei. For comparison, in H1 2009,...

"Euromall Real Estate Developer" challenged the call for tenders by which "Shopping Center Holding" SRL, a company controlled by Puiu Popoviciu, acquired the bankrupt mall developed in Oradea by "MLS Proiect Oradea".

The Bucharest Stock Exchange (symbol:BVB) saw its profit nearly double YOY in the first semester of 2010, to 4.37 million lei, as its turnover increased 56%, to 8.48 million lei.

Somewhere to the right of Australia, below the Salomon Islands, above New Caledonia and left of the Fiji Islands, that is in the Circle of Fire of the Pacific, - you guessed it, off the coast of the Vanuatu archipelago!, part of the Australasian...

"The ability to access markets or instruments that until now were the sole domain of professional investors turn structured certificates into an attractive alternative investment for our customers in Eastern Europe", said for BURSA,...

"Bayerische MotorenWerke" AG (BMW), the world"s largest luxury carmaker, has seen its sales increase 9.1% YOY in July, on the back of demand from China, US and Great Britain.

The Investment Fund Eastern Eagle Fund has lowered its stake in SIF Transilvania to 0.9941%, after reporting a stake of 1.01% in July. The fund has thus complied with the legal deadline for reducing its stake below

The mirage of three digit returns offered by stock market funds in 2009 left most investors unimpressed, as they continued to favor less risky investments in money market and bond funds.

Anca Dumitru, the general manager of the Bucharest Stock Exchange, was sanctioned by the Romanian Securities Commission (CNVM), at the end of May, because the Bucharest Stock Exchange refused to present the Commission with a study of the trades...

The European Bank for Reconstruction and Development (EBRD) has granted a syndicated loan of 180 million Euros to Alro, the Romanian division of the major European aluminum producer for refinancing.

"Audi", the luxury car division of "Volkswagen" AG - the largest European carmaker- has increased its global sales by 7.7% YOY in July, on the back of increased demand in China and the US.

Last week, the Romanian National Securities Commission (CNVM) issued an ordinance forcing the Banca Transilvania (BT) group, made up of 30 shareholders with which the bank is presumed of acting in concert, to lower its holdings in SIF "Banat...

On September 10, the shareholders of the Bucharest Stock Exchange are called to decide on the reduction of the face value of the shares of the Bucharest Stock Exchange from 10 lei to 1 leu, and the increase of the number of shares from 7.67...

After a ten month break the castle of Râşnov is once again open to the public.

The Free Independent Union (S.L.I.) "Oţelinox" intends to sue the company "Samsung Oţelinox" Târgovişte this month, the members of the union announced in a press release.

Romania can enter 2011 with a better fiscal situation as long as it meets the terms of the agreement with the IMF, which will make investors consider it attractive again, said the head of the IMF mission, Jeffrey Franks, who gave an exclusive...

During Tuesday"s General Shareholder Assembly, shareholders of "Celule Electrice" Băileşti (symbol:CLEL), a company controlled by businessman Cătălin Chelu, unanimously voted against the dismissal of the Board of Directors and the...

Brokerage firm "Tradeville", led by Siminel Andrei, turned out a profit of 158,000 lei, in the first quarter of the year, as its turnover increased to 2.86 million lei, according to a press release of the company.

Romania can enter 2011 with a better fiscal situation as long as it meets the terms of the agreement with the IMF, which will make investors consider it attractive again, said the head of the IMF mission, Jeffrey Franks, who gave an exclusive...

Albalact yesterday reported a turnover increase of 7.57% in the first semester of 2010, reaching 125,070,971 lei. The company"s turnover in H1 2009 was 116,270,109 lei.

This month, Iproeb Bistriţa has recalled the 63 employees it had sent home due to technical unemployment, after receiving several orders.

Iranian president, Mahmoud Ahmadinejad, was the target of a grenade attack on Monday, in Western Iran, according to the local press.

Unhappy with the fact that the authorities in Bucharest missed the arrears target for the fourth time in a row, the officials of the IMF are pressuring the government to begin the payment of its debts to the private sector as soon as possible.

In a concrete world, faith should meet certain criteria, measurable in meters and kilograms.

Over the last few months, the structure of the Supervisory Board of the Proprietatea Fund has seen significant changes, after three of its members, which were representing the Ministry of Finance, resigned or were forced to leave, almost six...

Football clubs that are heavily indebted are getting to ready to file for bankruptcy. While this may be bad news for the state, the clubs were careful to cover all their bases early on, with the help of the Romanian Football Federation, by...