The InterAgro group of companies, owned by Romanian businessman Ioan Niculae (in picture), expects a EUR 1 billion turnover this year, up from EUR 720 million in 2009. The result will be however lower than the EUR 1.2 billion posted in 2008, according to Ioan Niculae.

Romanian lender Banca Transilvania has opened the second branch in Cyprus, the Limassol agency. The bank entered the Cyprus market in 2007, when it opened the first subsidiary in Nicosia. It targeted the Romanian community in Cyprus, around 40,000 people who work there.

Italian company Enel Green Power (EGP) has started the 34 MW wind farm in Romania, in Agighiol, Tulcea county in the Dobrogea area. The Agighiol plant, EGP's first wind farm in Romania, will produce about 100 million kilowatt hours of power a year, enough to meet demand of more than 35,000 households and cut carbon dioxide (CO2) emissions by 70,000 tonnes a year.

Bostina & Asociatii law firm is the state's legal adviser on the sale of 9.84 percent in OMV – Petrom. The share stake will be sold on the Bucharest Stock Market and, once completed, it could be the largest privatization done on the stock exchange so far.

Romanian investor Ioan Niculae has invested EUR 9 million in the Wine Center in Zimnicea and will start selling the Crama Voievodului wine label in Romania. Around half of the funding was covered by EU money. The fist wine brand to be launched under this label is Nobilitas.

The European Bank for Reconstruction and Development (EBRD) has approved three credit lines worth a total of EUR 350 million for the National Bank of Greece's subsidiaries in Bulgaria, Romania and Serbia. The Romanian subsidiary, Banca Romaneasca, will get EUR 100 million in funding to support lending in the country.

Consumption of spirits in Romania has decreased this year to 5 liters per capita from 6 liters per capita last year because of the recession, said Romulus Dascalu, head of the Garant employers’ association in the industry, quoted by newswire Mediafax.

Romania’s Transport Ministry will launch EU-funded projects worth EUR 5.57 billion by the end of next year, among which the construction of 289 kilometers of highway and the upgrade of 166 kilometers of railway, Transport Minister Anca Boagiu said Sunday.

*Nicolae Danila, the wealthiest Romanian banker, has EUR 21 million in liquid assets. How he hedges against risk: has accounts with 15 banks – in Ziarul Financiar
*BCR lost EUR 120 million from clients who refinanced loans with other banks – in Ziarul Financiar
*Deutsche Telekom will invest EUR 1 billion in South Eastern Europe – in Ziarul Financiar
*One in three Romanians won't buy Christmas gifts – in Ziarul Financiar

The Cluj county Consumer Protection has applied a RON 100,000 (around EUR 23,000) fine to BCR and has asked for the suspension of lending after the bank has included the risk commission in the administration commission, although this has been forbidden by the Ordinance 50/2010.

The InterAgro group of companies, owned by Romanian businessman Ioan Niculae (in picture), expects a EUR 1 billion turnover this year, up from EUR 720 million in 2009. The result will be however lower than the EUR 1.2 billion posted in 2008, according to Ioan Niculae.

Romanian lender Banca Transilvania has opened the second branch in Cyprus, the Limassol agency. The bank entered the Cyprus market in 2007, when it opened the first subsidiary in Nicosia. It targeted the Romanian community in Cyprus, around 40,000 people who work there.

Italian company Enel Green Power (EGP) has started the 34 MW wind farm in Romania, in Agighiol, Tulcea county in the Dobrogea area. The Agighiol plant, EGP's first wind farm in Romania, will produce about 100 million kilowatt hours of power a year, enough to meet demand of more than 35,000 households and cut carbon dioxide (CO2) emissions by 70,000 tonnes a year.

Bostina & Asociatii law firm is the state's legal adviser on the sale of 9.84 percent in OMV – Petrom. The share stake will be sold on the Bucharest Stock Market and, once completed, it could be the largest privatization done on the stock exchange so far.

Romanian investor Ioan Niculae has invested EUR 9 million in the Wine Center in Zimnicea and will start selling the Crama Voievodului wine label in Romania. Around half of the funding was covered by EU money. The fist wine brand to be launched under this label is Nobilitas.

The European Bank for Reconstruction and Development (EBRD) has approved three credit lines worth a total of EUR 350 million for the National Bank of Greece's subsidiaries in Bulgaria, Romania and Serbia. The Romanian subsidiary, Banca Romaneasca, will get EUR 100 million in funding to support lending in the country.

Consumption of spirits in Romania has decreased this year to 5 liters per capita from 6 liters per capita last year because of the recession, said Romulus Dascalu, head of the Garant employers’ association in the industry, quoted by newswire Mediafax.

Romania’s Transport Ministry will launch EU-funded projects worth EUR 5.57 billion by the end of next year, among which the construction of 289 kilometers of highway and the upgrade of 166 kilometers of railway, Transport Minister Anca Boagiu said Sunday.

*Nicolae Danila, the wealthiest Romanian banker, has EUR 21 million in liquid assets. How he hedges against risk: has accounts with 15 banks – in Ziarul Financiar
*BCR lost EUR 120 million from clients who refinanced loans with other banks – in Ziarul Financiar
*Deutsche Telekom will invest EUR 1 billion in South Eastern Europe – in Ziarul Financiar
*One in three Romanians won't buy Christmas gifts – in Ziarul Financiar

The Cluj county Consumer Protection has applied a RON 100,000 (around EUR 23,000) fine to BCR and has asked for the suspension of lending after the bank has included the risk commission in the administration commission, although this has been forbidden by the Ordinance 50/2010.