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The hope that the sovereign debt crisis would be solved at the reunion of the heads of the EU states, one week from now, was shot down by Angela Merkel, German chancellor, whose spokesperson, (Steffen Seibert) said yesterday, in a press...

The profitability of the banking system will continue to fall this year due to increasingly high operating costs, and certain small banks, which aren"t specialized, might exit the market, Răsvan Radu, the CEO of UniCredit Ţiriac Bank considers.

"Microsoft" Corp., the world"s largest maker of software, has completed the acquisition of internet telephony company "Skype Technologies" SA, for 8.5 billion dollars, making it the biggest acquisition ever made by the...

"Suzuki Motor" Corp. of Japan is accusing its German partner "Volkswagen" AG of violating their partnership agreement, by withholding certain technologies it promised sharing, which is why, if the situation isn"t remedied,...

The share capital of Concefa Sibiu, specializing in construction, will only be increased by 6.1 million lei, less than half the initially proposed amount of 14.2 million lei.

• Petre Pavel Szel: SIF "Muntenia" is in the process of a divorce with "Erste", but it is a civilized one 

Man, this crisis is really something, the Greeks want the bailout, the Slovakians don"t, American cities are filing for bankruptcy, European banks as well, this commissioner is making statements, the EU is making statements, the ECB is making...

Dan Şucu, the president of the Association of the Major Commercial Networks in Romania (AMRCR) and owner of Mobexpert, yesterday said that the thing that frightens him the most is the idea that the state could become the largest investor in the...

German company "Marbach", which is a leading tool manufacturer for the packaging industry, has begun production in the production facility located in the town of Nădlac, county of Arad.

• "Credit Suisse": At least 66 European banks would not pass new stress tests 

After three years of waiting and knocking on the Government"s door requesting a stable legislative environment, renewable energy investors have been given the green light by the Government for drafting their business plans.

• EU banks aren't ready 

Shares of Austrian bank "Erste" fell almost 16% in Bucharest yesterday, after the bank announced it would take "extraordinary measures", booking net losses of about 800 million Euros for this year.

The departure of Finnish group Nokia from Romania and the layoff of 2,200 employees represented a true breath of fresh air for the Romanian government, by providing it with an opportunity to release a wave of announcements about the investments...

• EU banks aren't ready 

In the coming years, audit firm "Grant Thornton" wants to reach a market share of 5% of the Romanian audit market, which it says it is valued at 150-200 million Euros a year, which would place it in the 6th-7th position, according to...

Volksbank Romania has relaunched its banking operations products. The bank has simplified its offer, which will now only include three types of current accounts, as opposed to the six types of current accounts included in the previous offer,...

Romania"s 5-year CDS rate (ed. note: Credit Default Swaps) nearly doubled, in Q3, rising to 420 basis points, according to a report published yesterday by "CMA Data Vision".

• State aid of 8 million Euros for the hiring of 100 workers 

The NBR governor recently criticized the lack of professionalism in the financial media, and his rant included the organizers of the "Romania Financial Forum 2011".

The regulation concerning consumer lending will push the Romanian society towards "civilized lending", which represents an act of normalcy, Mugur Isărescu, the governor of the NBR explained yesterday.

While shopping in one of the Hermes luxury stores (famous for their tasteful products and eye-popping prices - among other things, the company is a shareholder of the Jean-Paul Gaultier design house), Kathy Fuld, the wife of Dick Fuld, former CEO...

The priority for next year will be for our society to escape the patterns of the previous electoral years, with promises more or less out of touch with reality, Mugur Isărescu, the governor of the NBR said yesterday.

While shopping in one of the Hermes luxury stores (famous for their tasteful products and eye-popping prices - among other things, the company is a shareholder of the Jean-Paul Gaultier design house), Kathy Fuld, the wife of Dick Fuld, former CEO...

The Pandora jewelry stores entered the Romanian market this autumn. Lucian Adochiţei, manager at Pandora Jewelry Romania, says that since the launch, sales have exceeded expectations.

The New Civil Code, which came into force on October 1st, 2011, is likely to bring about radical changes in the academic area of law classes, discourses and monographs, as well as in the business sector.

Maker of high-class wines "Rotenberg" "skipped last year"s harvest", according to Mihail Rotenberg, the owner of the wine caves of Ceptura: "The 2010 viticultural year was worthless.

He likes to say that he has now reached that part of life where he spends what he has accumulated in the other part, but Mişa Rotenberg, who lives in two locations - in Romania, where he was born and in Israel, where he made money - told us this...

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.