Yesterday evening, the ministers were summoned at the Victoria Palace, for a government meeting which would discuss the decision of Nokia to shut down the plant of Jucu.

By the end of the year, Finnish group Nokia will close down the cellphone factory of Jucu, in the county of Cluj, laying off 2200 employees.

• The capital market watchdog has blocked the transactions with other shares managed by AVAS, which the court appointed executor was planning to sell sale 

Interview with Vasile Marius Crişan - the general manager of National Company "Romarm" SA

Yesterday, at the Braşov Business Days forum, the mayor of Braşov, George Scripcaru, said, that the city may apply for hosting the Winter Olympics in 2022.

2.5 billion lei (about 581 million Euros) was injected yesterday in the banking system by the National Bank of Romania (NBR), with a one-week maturity, at the monetary policy rate, of 6.25%/year.

• My dear colleagues, the planet is entering in a crucial period - our world, is about to change, for all of us. 

The members of the Braşov county council yesterday approved the proposal of the county"s executive to begin the privatization procedure through the selling of shares in the industrial parks it controls - Metrom Industrial Park and Carfil...

At the end of last week, the Ministry of the Economy, Trade and Business Environment announced, following the working visit of Minister Ion Ariton in Munich, that he met with the officials of the Continental and Dräxlmaier groups, and they...

The shareholders of SIF "Moldova" are interested first and foremost in the listing of BCR, whereas other alternatives, such as selling their shares or exchanging them for shares of Erste Bank, represent more of a "plan B" for...

UBS chief executive Oswald Gruebel resigned over the scandal surrounding the rogue trading loss of 2.3 billion dollars incurred by the investment banking division, being replaced in the interim by Sergio Ermotti, UBS Europe, Middle East and...

The officials of "Hidroelectrica" said that in the first six months of 2011, the company had a turnover of 1.64 billion lei, up from approximately 1.5 billion lei in the similar period of 2011.

The creation of the new Oltenia and Hunedoara energy companies will be completed by the end of June 2012.

The current economic crisis has lead to increasingly outspoken opinions on the odds of local revolts or even large scale wars.

• In 2011 - The Tear of Ovidiu, produced by Murfatlar, earned a medal for the fourth time 

Of all the activities to which people have constantly dedicated huge volumes of material and human resources, of intelligence and imagination, war remains by far the least understood.

The shareholders of SIF "Muntenia" no longer look at the listing of BCR as anything other than a "plan B".

According to a ruling of the Constitutional Court, the decision to limit the size of the stake of any of the SIF shareholders at 1% concerns the stock market and is intended to ensure its optimal operation, which is why the regulations concerning...

European industrial group Siemens AG has withdrawn half a billion Euros from a French bank, which "Financial Times" and "Reuters" allege is named "Societe Generale" (according to a "Paris-based source"), but...

The officials of Greece"s international creditors - the EU, the ECB and the IMF - will return to Athens in the beginning of next week, in order to complete the talks for the unlocking of the next tranche of the loan made to Greece, Greek...

Greece is being blackmailed by the markets, and Europe isn"t handling the crisis as quickly and as swiftly as it should, Greek Finance minister Evangelos Venizelos said yesterday.

The sovereign debt crisis in Europe has increased the risk exposure of banks in the region by 300 billion Euros, and they will require recapitalization, possibly through the European Financial Stability Facility, in order to bear the potential...

Italian banks, including "UniCredit" SpA and "Intesa Sanpaolo" SpA, as well as the state owned companies such as "Enel" SpA, may face a downgrade by Standard & Poor"s, after the ratings firm downgraded Italy for...

The Eurozone sovereign debt crisis will be the main topic between the leaders of the G20 member countries, in a reunion of the IMF, which will be held at the end of this week in Washington, German sources say, quoted by the international media.

European officials that are facing the sovereign debt issue should not give up on the idea of launching common Eurozone bonds and they should develop integrated instruments in order to make this possible, even if Germany is against the idea, the...

After a year of consultations, ten Romanian businesspeople have created the Romanian Business Leaders Foundation-(FRBL).

Greece is caught in a vicious circle of insolvency, low competitiveness, and increasing depression, says Professor Nouriel Roubini, the president of Roubini Global Economics, in article published by Financial Times.

European banks must consolidate their balance sheets, said the president of the European Central Bank (ECB), Jean- Claude Trichet, in an interview with Spanish daily Expansion, quoted by Reuters.

Yesterday night, the Greek cabinet was going to participate in a new teleconference with the officials of Greece"s international creditors, after its members announced on Monday that the previous teleconference had been "productive".

More European banks may need recapitalization due to the sovereign debt crisis, aside from the nine which failed the stress test, European competition commissioner Joaquin Almunia warned yesterday.

The president of the United States, Barack Obama, and German chancellor Angela Merkel had a phone discussion about the sovereign debt crisis in the Eurozone and have agreed that solving the problems of the Eurozone will require "concerted...

United States have "every interest" to help the countries of the EU in finding a more efficient strategy to handle the sovereign debt crisis, American Treasury secretary Timothy Geithner said on Monday.

The Euro depreciated yesterday. At 10:05, on the New York market, the Euro had an exchange rate of 1.3676 dollars, down 0.1% over the previous day.

The price of gold rose yesterday, as investors were concerned over the sovereign debt crisis in Europe.

Bank of China, one of the largest state-owned commercial banks in China, has interrupted forwards and swap transactions with several European banks, due to the sovereign debt crisis in the Eurozone, sources close to the situation said, as quoted...

Ratings firm Standard & Poor"s (S&P) cut Italy"s credit rating by one notch, from "A+" to "A", with a negative outlook, due to the deterioration of the country"s economic outlook, which threatens the...

"Siemens" AG, the largest European provider of engineering solutions, has withdrawn in the first month of July, deposits worth over 500 million Euros from French bank "Société Générale", transferring them to the European Central...