The Romanian authorities Thursday rejoined the shareholder structure of oil refinery Rompetrol Rafinare (RRC.RO on the Bucharest Stock Exchange) with a 44.69 percent stake, after the latter failed to redeem in cash a EUR 540 million convertible hybrid held by the government on account of a historic debt. Rompetrol Rafinare decided to convert most of the hybrid into shares instead, the oil company said in a statement.

Axxess Capital has launched the Emerging Europe Accession Fund (EEAF), with a targeted capitalization of EUR 150 million, which will invest in Romania, Bulgaria and Turkey. The fund, managed by the same team which runs the Balkan Accession Fund (BAF), had a first close at EUR 94 million.

The Romanian Government will re-organize a bid for the concession of the Comarnic – Brasov highway segment in 2011, after the contract that was supposed to be signed with the Vinci – Aktor consortium was canceled. The Transport Ministry will change the documentation in order to avoid the issues it faced the first time, said Eusebiu Pistru, state secretary with the ministry.

Works on the first Lidl discounter store in Romania will start in October in Galati, with an estimated investment of EUR 5 million, according to the city's deputy mayor Nicuşor Ciumacenco. Lidl&Scwartz.co&KG will build the store near the former military unit in Ţiglina I area of Galati.

CEZ will finalize next year the second stage of the wind park in Dobrogea, Cogealac. “Next year, the park will have 600 MW. We currently have an installed capacity of 300 MW. We have started works on the second stage of the project, in Cogealac, and we'll finalize works in a year,” said Adrian Vorotea, head of corporate affairs of CEZ Romania.

Power and gas company E.ON invested around EUR 300 million in Romania between 2005 and 2009 in revamping natural gas and electricity distribution networks in the country, the company has announced.

Employers will be able to petition city hall for a number of special books and stamps, allowing them to hire a certain number of daily laborers for unskilled work, said Labor Minister Ioan Botis. He also said the Labor Ministry will distribute these books to local authorities and local Labor Inspection offices will check whether employers observe the new legislation.

*Sale of state companies on the stock market could replace deal with IMF – in Ziarul Financiar
*The message of a USD 76 billion executive (P&G): We would choose Romania again for the shampoo factory – in Ziarul Financiar
*E.ON: Crisis creates competition among countries and Romania is not top of the list – in Ziarul Financiar
*Govt. decides to eliminate minimum tax from October 1 – in Ziarul Financiar
*Central Bank prefers to fight inflation rather than cutting cost of loans – in Gandul

City Insurance plans to invest EUR 0.5 million in opening 40 insurance agencies across Romania by the end of 2010 and hopes to sell up to 30,000 home insurance policies, according to the company.

Consumer goods producer Procter & Gamble, which has recently opened its factory in Urlati, Romania, intends to invest in renewable energy that it could trade on the stock market, company representatives have said. “We intend to look at European funds for renewable energy, together with the Ministry of Environment. We could trade renewable energy on the stock market, as the transactions with green certificates are pending regulations,” said Ramona Brad, associate director for external relations with P&G.

The Romanian authorities Thursday rejoined the shareholder structure of oil refinery Rompetrol Rafinare (RRC.RO on the Bucharest Stock Exchange) with a 44.69 percent stake, after the latter failed to redeem in cash a EUR 540 million convertible hybrid held by the government on account of a historic debt. Rompetrol Rafinare decided to convert most of the hybrid into shares instead, the oil company said in a statement.

Axxess Capital has launched the Emerging Europe Accession Fund (EEAF), with a targeted capitalization of EUR 150 million, which will invest in Romania, Bulgaria and Turkey. The fund, managed by the same team which runs the Balkan Accession Fund (BAF), had a first close at EUR 94 million.

The Romanian Government will re-organize a bid for the concession of the Comarnic – Brasov highway segment in 2011, after the contract that was supposed to be signed with the Vinci – Aktor consortium was canceled. The Transport Ministry will change the documentation in order to avoid the issues it faced the first time, said Eusebiu Pistru, state secretary with the ministry.

Works on the first Lidl discounter store in Romania will start in October in Galati, with an estimated investment of EUR 5 million, according to the city's deputy mayor Nicuşor Ciumacenco. Lidl&Scwartz.co&KG will build the store near the former military unit in Ţiglina I area of Galati.

CEZ will finalize next year the second stage of the wind park in Dobrogea, Cogealac. “Next year, the park will have 600 MW. We currently have an installed capacity of 300 MW. We have started works on the second stage of the project, in Cogealac, and we'll finalize works in a year,” said Adrian Vorotea, head of corporate affairs of CEZ Romania.

Power and gas company E.ON invested around EUR 300 million in Romania between 2005 and 2009 in revamping natural gas and electricity distribution networks in the country, the company has announced.

Employers will be able to petition city hall for a number of special books and stamps, allowing them to hire a certain number of daily laborers for unskilled work, said Labor Minister Ioan Botis. He also said the Labor Ministry will distribute these books to local authorities and local Labor Inspection offices will check whether employers observe the new legislation.

*Sale of state companies on the stock market could replace deal with IMF – in Ziarul Financiar
*The message of a USD 76 billion executive (P&G): We would choose Romania again for the shampoo factory – in Ziarul Financiar
*E.ON: Crisis creates competition among countries and Romania is not top of the list – in Ziarul Financiar
*Govt. decides to eliminate minimum tax from October 1 – in Ziarul Financiar
*Central Bank prefers to fight inflation rather than cutting cost of loans – in Gandul

City Insurance plans to invest EUR 0.5 million in opening 40 insurance agencies across Romania by the end of 2010 and hopes to sell up to 30,000 home insurance policies, according to the company.

Consumer goods producer Procter & Gamble, which has recently opened its factory in Urlati, Romania, intends to invest in renewable energy that it could trade on the stock market, company representatives have said. “We intend to look at European funds for renewable energy, together with the Ministry of Environment. We could trade renewable energy on the stock market, as the transactions with green certificates are pending regulations,” said Ramona Brad, associate director for external relations with P&G.