The Bucharest court has approved the insolvency of the Armonia Braila shopping center owner Red Project Three, a company of the Red real estate development group. The shopping center was closed down in August 2009, after only several months from opening, due to unsatisfying results. At the time, the developer was announcing plans to reposition the project and turn into into a discount-oriented one. It was expected to re-open in 2011.

US micro processors producer Intel will open its first software development center in Romania, which will also be the first such unit in Europe. The company will offer more details in a press conference next week.

Health care companies have been among the most active tenants this year, mainly for the office segment, according to a recent analysis by DTZ Echinox. Their weight in the office take-up doubled one year to the other. In 2009, the medical services segment had a 7 percent share of the net leased office area during that year, but went up to hold 15 percent of the leased offices in 2010.

Carpet company Desso will supply carpet for 40,000 sqm of offices in the new Petrom City office project, Desso has announced. The area which will be covered by carpet is the size of six football courts put together. “It is a significant project for us, as it expresses our commercial performances in Poland and in the Eastern Europe,” said Wojciech Chorobik, director with Desso Romania.

The Romanian Central Bank (BNR) Tuesday decided to keep the 2012 inflation target at 3 percent, with one percentage point variation band, and to adopt a flat multi-annual inflation target of 2.5 percent, plus/minus 1 percentage point, as of 2013.

The Romanian Central Bank (BNR) could resume its monetary easing policy in the first half of 2011, after an increase in the sales tax introduced earlier this year has forced the process into a temporary halt, an official of the International Monetary Fund said Monday.

*IMF leaves without approved budget, tranche delayed for January – in Ziarul Financiar
*Vodafone brings expat to lead Romanian subsidiary. Liliana Solomon promoted head of 14 markets – in Ziarul Financiar
*Romgaz imports more expensive gas and profits drops 23% – in Ziarul Financiar
*DM Drogerie Markt opens unit on the premises of the former Sherriffs restaurant downtown Bucharest – in Ziarul Financiar
*City Mall owners take cover from banks by asking for insolvency – in Gandul
*Romanian public pensions, the worst in the region. What will happen by 2050 – in Gandul

Australian investment fund APN/UKA, which owns the City Mall shopping center in Bucharest, has asked for the insolvency of the Romanian company which runs the shopping mall, Victoria Holding.

Canadian oil and gas company Sterling Resources has ended the agreement with Melrose Resources BV for Sterling's Pelican and Midia blocks, offshore Romania, the company has announced. "The inability to obtain assignment approval has impeded progress on the Ana and Doina discoveries, as well as further exploration and appraisal activities on the blocks," according to the company.

Romania and the International Monetary Fund have reached an agreement at the experts' level and the results of the discussions were good, according to Jeffrey Franks, head of the IMF mission to Romania (in picture, right). The fund expects to ask for the IMF's board approval mid-January, to unlock a new loan tranche for Romania – around EUR 900 million.

The Bucharest court has approved the insolvency of the Armonia Braila shopping center owner Red Project Three, a company of the Red real estate development group. The shopping center was closed down in August 2009, after only several months from opening, due to unsatisfying results. At the time, the developer was announcing plans to reposition the project and turn into into a discount-oriented one. It was expected to re-open in 2011.

US micro processors producer Intel will open its first software development center in Romania, which will also be the first such unit in Europe. The company will offer more details in a press conference next week.

Health care companies have been among the most active tenants this year, mainly for the office segment, according to a recent analysis by DTZ Echinox. Their weight in the office take-up doubled one year to the other. In 2009, the medical services segment had a 7 percent share of the net leased office area during that year, but went up to hold 15 percent of the leased offices in 2010.

Carpet company Desso will supply carpet for 40,000 sqm of offices in the new Petrom City office project, Desso has announced. The area which will be covered by carpet is the size of six football courts put together. “It is a significant project for us, as it expresses our commercial performances in Poland and in the Eastern Europe,” said Wojciech Chorobik, director with Desso Romania.

The Romanian Central Bank (BNR) Tuesday decided to keep the 2012 inflation target at 3 percent, with one percentage point variation band, and to adopt a flat multi-annual inflation target of 2.5 percent, plus/minus 1 percentage point, as of 2013.

The Romanian Central Bank (BNR) could resume its monetary easing policy in the first half of 2011, after an increase in the sales tax introduced earlier this year has forced the process into a temporary halt, an official of the International Monetary Fund said Monday.

*IMF leaves without approved budget, tranche delayed for January – in Ziarul Financiar
*Vodafone brings expat to lead Romanian subsidiary. Liliana Solomon promoted head of 14 markets – in Ziarul Financiar
*Romgaz imports more expensive gas and profits drops 23% – in Ziarul Financiar
*DM Drogerie Markt opens unit on the premises of the former Sherriffs restaurant downtown Bucharest – in Ziarul Financiar
*City Mall owners take cover from banks by asking for insolvency – in Gandul
*Romanian public pensions, the worst in the region. What will happen by 2050 – in Gandul

Australian investment fund APN/UKA, which owns the City Mall shopping center in Bucharest, has asked for the insolvency of the Romanian company which runs the shopping mall, Victoria Holding.

Canadian oil and gas company Sterling Resources has ended the agreement with Melrose Resources BV for Sterling's Pelican and Midia blocks, offshore Romania, the company has announced. "The inability to obtain assignment approval has impeded progress on the Ana and Doina discoveries, as well as further exploration and appraisal activities on the blocks," according to the company.

Romania and the International Monetary Fund have reached an agreement at the experts' level and the results of the discussions were good, according to Jeffrey Franks, head of the IMF mission to Romania (in picture, right). The fund expects to ask for the IMF's board approval mid-January, to unlock a new loan tranche for Romania – around EUR 900 million.