Romanian investor Dinu Patriciu and journalist Sorin Rosca Stanescu have recently launched an online bookstore under the brand Corect Books, which will sell only digital books. The investment in the project was of EUR 100,000, but will reach EUR 2 million for a wider project which includes a media portal as well.

Romanians have sent money back home from 170 countries in the world, according to Western Union. The remittances are higher in the countries where the Romanian communities are bigger – in Europe, in the US and even in the Persian Golf.

The Romanian Central Bank governor Mugur Isarescu believes Romania no longer needs a new financial agreement with the International Monetary Fund (IMF).

*IMF: Romania needs EUR 38 billion next year – in Ziarul Financiar
*Kazakhs now want state's shares in Petromidia – in Ziarul Financiar
*EUR 10,000 from the state for young people who want to start businesses – in Ziarul Financiar
*Hornbach opens the Prisma store by the end of the year – in Ziarul Financiar
*IMF money move BNR's reserves up to EUR 32.6 billion in September – in Gandul

A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.

*Central Bank governor warns: populism is the road to hell for Romania – in Ziarul Financiar
*Kazachs take Romanian state on board in Petromidia shareholding structure – in Ziarul Financiar
*Ford: local production helps us in the image department. We stay at 10% of the market – in Ziarul Financiar
*Fiscal authority eyes those whose wealth grows by more than EUR 50,000 a year – in Ziarul Financiar
*Horia Manda wants acquisitions between EUR 5 and EUR 20 million with a new fund he brings to Romania – in Ziarul Financiar

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.

Romanian investor Dinu Patriciu and journalist Sorin Rosca Stanescu have recently launched an online bookstore under the brand Corect Books, which will sell only digital books. The investment in the project was of EUR 100,000, but will reach EUR 2 million for a wider project which includes a media portal as well.

Romanians have sent money back home from 170 countries in the world, according to Western Union. The remittances are higher in the countries where the Romanian communities are bigger – in Europe, in the US and even in the Persian Golf.

The Romanian Central Bank governor Mugur Isarescu believes Romania no longer needs a new financial agreement with the International Monetary Fund (IMF).

*IMF: Romania needs EUR 38 billion next year – in Ziarul Financiar
*Kazakhs now want state's shares in Petromidia – in Ziarul Financiar
*EUR 10,000 from the state for young people who want to start businesses – in Ziarul Financiar
*Hornbach opens the Prisma store by the end of the year – in Ziarul Financiar
*IMF money move BNR's reserves up to EUR 32.6 billion in September – in Gandul

A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.

*Central Bank governor warns: populism is the road to hell for Romania – in Ziarul Financiar
*Kazachs take Romanian state on board in Petromidia shareholding structure – in Ziarul Financiar
*Ford: local production helps us in the image department. We stay at 10% of the market – in Ziarul Financiar
*Fiscal authority eyes those whose wealth grows by more than EUR 50,000 a year – in Ziarul Financiar
*Horia Manda wants acquisitions between EUR 5 and EUR 20 million with a new fund he brings to Romania – in Ziarul Financiar

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.