English Section

The European Union is in a "a survival crisis", and its members should act together in order to overcome it, EU president Herman van Rompuy said yesterday, and he stressed that otherwise, the future of the European bloc would be in question.

Adrian Vasilescu, the advisor to the governor of the NBR, considers that the next year will be just as difficult as 2010. In his opinion, the official forecast, which predicts the economy will grow by 1.5%, can be reached if we do not stumble.

Hotel company THR Marea Neagră announces a 30.8% YOY drop in its turnover at the end of Q3 2010, from 29.2 million lei to 20.1 million lei, whereas its profit dropped 6.3%, to 5.5 million lei.

The European Bank for Reconstruction and Development (EBRD) yesterday announced that it will extend a loan of ten million Euros to BRD Groupe Société Générale, to finance sustainable energy projects implemented by Romanian businesses.

The owner of the football club Steaua Bucuresti, is about to lose five million Euros, wit nothing to show for it.

The state can"t seem to succeed in selling its minority stakes in the agricultural companies, in its attempt to consolidate budget revenues.

East European criminals and corrupt politicians have found in offshore havens a tool so perfect that it has permanently changed how business is done in the region.

Before he was arrested for money laundering, tax evasion and organized crime, Romanian offshore consultant Laszlo Gyorgy Kiss explained to an undercover reporter from the Organized Crime and Corruption Reporting Project (OCCRP) the art of hiding...

Romanian police arrested offshore consultant Laszlo Gyorgy Kiss in Bucharest in early October, one month after reporters working undercover for the Organized Crime and Corruption Reporting Project (OCCRP) recorded him explaining how to cheat on...

Luck seems to favor train maker "Remarul 16 Februarie", which after months of negotiations succeeded in securing the exclusive license to manufacture and sell trains manufactured under the "Bombardier" license in five states of...

Breaking the law, whether by using black market labor or avoiding paying taxes, has almost become a sport for the business sector, president Traian Băsescu said yesterday.

The Romanian market for franchises has seen only slight fluctuations, since the beginning of the year, compared to last year"s similar period, said Adrian Gheorghe, general manager of "ThinkBig International" - a franchise consulting...

"BURSA" has received the excellence award for its support of the Romanian stock market, together with the Romanian Securities Commission and former Finance Minister Sebastian Vlădescu, in the Capital Market Awards Gala of 2010, which was...

Russian giant Lukoil is interested in taking over the exploitation of the hydrocarbon resources that Canadian company Sterling Resources Ltd. holds in the Black Sea, official sources from the energy market say.

Over the past few days, poetry books have seen record sales.

The Romanian National Bank (NBR) will layoff part of its staff, in order to help modernize the oversight operations, Adrian Vasilescu, advisor to the Governor of the NBR said yesterday, as part of the EU -COFILE seminar held in Sinaia.

National natural gas carrier "Transgaz" SA reported a net profit of 284.2 million lei at the end of the first nine months of 2010, up 50% over last year"s similar period (189.3 million lei).

The company "Hidromecanica" Braşov has lowered its net losses by 85%, from 7.198 million lei to 1.082 million lei, as its net turnover has dropped by almost 50%, from 8.374 million lei to 4.524 million lei.

For more than a year, Romanian private energy providers have been trading abroad, on over-the-counter (OTC) markets, because their platforms are flexible and allow them to conclude contracts quickly.

The circulation figures for the papers audited by the BRAT were unintentionally invalidated in a "farewell" letter that Adrian Halpert, sent to his colleagues at the "Adevărul" daily, where he was a managing editor until yesterday

Brewer "Martens" Galaţi, has reduced its losses in the first nine months of 2010 by 62.7% YOY, from 6.2 million lei to 2.3 million lei.

The metallurgic plant "Mechel" Târgovişte has announced it will participate in the share capital increase of "Mechel Reparaţii" Târgovişte, by a contribution in kind of 15.4 million lei, the equivalent value of several plots of...

The portfolio of the mutual fund iFond Gold, managed by Intercapital Investment Management, will invest most of its assets - 40% - in shares of "Gabriel Resouces", the company which holds 80% of the "Roşia Montană Gold Corporation".

While Romanian brokerages are still dreaming of the listing of the Fund on the Bucharest Stock Exchange, derivatives based on the shares of the Fund have already begun trading one month ago on the Frankfurt Stock Exchange.

The recent decision of the US Central Bank (Federal Reserve - Fed) to support the economy by injecting an additional 600 billion dollars in the American banking system could create a shock on the financial markets of emerging countries, by...

Starting in 2005, the winemaking and orcharding station called "Domeniile Sâmbureşti" is part of "Valvis Holding".

The management of "Alro" SA claims that the energy it is buying directly from "Hidroelectrica" only covers 75% of its needs and that it does not resell this energy to other suppliers.

The Court of Olt has admitted the request for "Romvag" Caracal to be declared insolvent (symbol: ROMJ on the Rasdaq market) and has appointed "RVA Insolvency Specialists SPRL" as receiver of the company.

The capital market watchdog has fined the managers of "Jovline" and "Zalois", the two companies which control the fertilizer maker "Amonil" Slobozia (symbol:AMO) with 50,000 lei each.

"Sinteza" Oradea has seen its turnover decrease 9% in the first nine months of 2010, from 7.7 million lei to 7 million lei, posting a loss of 20,000 lei, after posting a profit 500,000 lei at the end of last year"s similar period.

The evolution of civilization has implicitly led to the evolution of tastes.

Even though the head of "Oltchim" was forced to retract his statement that BCR would become a shareholder of Oltchim, another official yesterday announced that the Romanian Commercial Bank has issued its "on principle agreement"...

The fear that they could lose their jobs has caused most of the employees in the public sector to reject the call of union leaders to go on a spontaneous strike.

The capital market watchdog has fined three employees of brokerage firm "Valmob Intermedia" of Piteşti with 2,500 lei each, after finding out, among other things, that its brokers have fraudulently used the funds of some of its...

On December 3rd, the shareholders of hotel company "Turism Covasna" are expected to review the proposal of the Board of Directors of the company to increase the share capital of the company by almost 5.2 million lei, from 10.3 million lei...

Several future shareholders of the Proprietatea Fund (FP) plan to go to court in order to obtain the invalidation of the decision of the Fund to buy back approximately 10% of its stock, which was approved by the General Meetign of Shareholders in...

The tense discussions on the matter of the "currency war" have opened the horizon for a difficult compromise among the strongest economies of the world, which, according to many analysts, would lead to the worsening of the current crisis.

Ioan Niculae, the owner of the "InterAgro" group, yesterday said, that next week he will start sending in notices about the plan to begin laying off the employees of "Viromet" Victoria and "Nitroporos" Făgăraş, after the...

The retroactivity of the Government Ordinance 50 is a false issue, president Traian Băsescu says, who stressed that the ordinance will apply for future contracts.

Romanian investors can trade American stocks at a lower cost, now that the Central Depository has established a cross border connection with the central depositories of the United States.