State-owned company Oltchim Ramnicu Valcea saw its loss deepening in the first six months of this year - around EUR 41.7 million, which was 35 percent higher than the loss it posted the same period of last year.

The average room price of Bucharest hotels ranks 22nd in a top of 30 cities based on hotel prices, according to hotel.info, which has put together the top. The average price of a hotel room in Bucharest went up by 3 percent in July, to EUR 81.36, compared to the same month of last year. Compared to June 2008, the room price dropped by 19.4 percent.

Credit Europe Bank will redeem the clients whose bank accounts have been recently wiped out following unauthorized bank transactions. The bank has already repaid the first amounts and says it has the needed cash to cover these payments. It is yet to disclose the total amount which was taken out of customers' accounts.

Romania's wheat crop has been affected by floods and will stay below the expectations this season, although at a higher level than last year, according to the Agriculture Ministry. The country is expected to harvest 5.7 million tonnes of wheat, 1 million tonnes below the expected level. Most of the crop has already been harvested from 98 percent of the land.

Natural gas consumption in Romania reached 78.7 million Mwh in the first six months of the year, which was an increase of 10 percent compared to the same period of last year, according to data from the Energy regulation National Agency (ANRE).

Car maker Ford will start production of a new car in its factory in Romania next year. It will be a small-size car which is not yet in Ford's portfolio, according to John Fleming, head of global manufacturing and labor affairs. 150,000 units of the new car will be produced each year, according to Fleming. Production should start towards September next year.

The initial public offering (IPO) started by the iFond Financial investment fund has been oversubscribed by 3.5 times, according to preliminary data. The fund has raised RON 7 million- the equivalent of around EUR 1.6 million. The fund will invest half of its assets in Fondul Proprietatea shares.

The National Authority for Management and Regulation in Communication of Romania (ANCOM) will organize a bid for telecom equipments in October. The regulation body is looking to buy equipments to modernize networks, Internet connection nodes and internal LAN equipments. The value of the contract will reach EUR 1.1 million.

Rompetrol Rafinare, part of the Rompetrol Group, posted a net loss of USD 119 million in the first half of this year, the company has announced. At the same time, the operational result (EBITDA) was negative, amounting to USD 24,7 million. The company's consolidated turnover was of USD 1.76 billion, up 24 percent compared to the same period of last year.

Foreign direct investments went down by 29 percent in the first six months of the year, to EUR 1.8 billion, according to data from the Romanian Central Bank (BNR). These have financed just half of the current account deficit, which was of EUR 1.8 billion during this period.

State-owned company Oltchim Ramnicu Valcea saw its loss deepening in the first six months of this year - around EUR 41.7 million, which was 35 percent higher than the loss it posted the same period of last year.

The average room price of Bucharest hotels ranks 22nd in a top of 30 cities based on hotel prices, according to hotel.info, which has put together the top. The average price of a hotel room in Bucharest went up by 3 percent in July, to EUR 81.36, compared to the same month of last year. Compared to June 2008, the room price dropped by 19.4 percent.

Credit Europe Bank will redeem the clients whose bank accounts have been recently wiped out following unauthorized bank transactions. The bank has already repaid the first amounts and says it has the needed cash to cover these payments. It is yet to disclose the total amount which was taken out of customers' accounts.

Romania's wheat crop has been affected by floods and will stay below the expectations this season, although at a higher level than last year, according to the Agriculture Ministry. The country is expected to harvest 5.7 million tonnes of wheat, 1 million tonnes below the expected level. Most of the crop has already been harvested from 98 percent of the land.

Natural gas consumption in Romania reached 78.7 million Mwh in the first six months of the year, which was an increase of 10 percent compared to the same period of last year, according to data from the Energy regulation National Agency (ANRE).

Car maker Ford will start production of a new car in its factory in Romania next year. It will be a small-size car which is not yet in Ford's portfolio, according to John Fleming, head of global manufacturing and labor affairs. 150,000 units of the new car will be produced each year, according to Fleming. Production should start towards September next year.

The initial public offering (IPO) started by the iFond Financial investment fund has been oversubscribed by 3.5 times, according to preliminary data. The fund has raised RON 7 million- the equivalent of around EUR 1.6 million. The fund will invest half of its assets in Fondul Proprietatea shares.

The National Authority for Management and Regulation in Communication of Romania (ANCOM) will organize a bid for telecom equipments in October. The regulation body is looking to buy equipments to modernize networks, Internet connection nodes and internal LAN equipments. The value of the contract will reach EUR 1.1 million.

Rompetrol Rafinare, part of the Rompetrol Group, posted a net loss of USD 119 million in the first half of this year, the company has announced. At the same time, the operational result (EBITDA) was negative, amounting to USD 24,7 million. The company's consolidated turnover was of USD 1.76 billion, up 24 percent compared to the same period of last year.

Foreign direct investments went down by 29 percent in the first six months of the year, to EUR 1.8 billion, according to data from the Romanian Central Bank (BNR). These have financed just half of the current account deficit, which was of EUR 1.8 billion during this period.