The retailers in the AFI Palace Cotroceni shopping center cashed in EUR 164 million in total sales last year, according to Mediafax newswire. 33 retailers out of 280 have been replaced in the shopping center during the first year of activity, said Visel. The shopping center was opened in November 2009 and has an average traffic of 50,000 people a day during week days and around 80,000 during the week-end.

Romania's foreign exchange reserves rose to EUR 32.69 billion in January, after the International Monetary Fund released a seventh installment of a EUR 13 billion stand-by loan, central bank data showed Tuesday. At the end of December 2010, the reserves were at EUR 32.43 billion.

The International Monetary Fund has asked Romania to discard regulated prices for the production of electricity and natural gas and to draw up a new calculation formula in this respect.

US company IBM company could open a new research center in Targu Mures, central Romania, the company's 11th worldwide center. IBM executive director Spiros Teleoglou and IBM Research executive director Christos J. Georgiou paid a visit to Targu Mures last week and talked about this possibility with the city hall representatives.

Romania plans to spend up to EUR 4 million on promoting the country as a tourist destination on international TV channels. The Romanian Tourism Ministry has started the acquisition procedures for advertising space on international TV channels to promote the country's tourism brand.

The mobile marketing market segment in Romania will grow by 10 percent this year and reach around 100 million text messages, mainly fueled by notifications from banks to their clients, according to Netopia Sistem, which operates the web2sms service.

Romanian lender Banca Transilvania posted a net profit of EUR 23.2 million in 2010, 58 percent higher than the one posted in 2009, the bank has announced. The increase was mainly due to revenues from interests and to the strict cost control, according to the bank.

Romanian furniture producer and retailer Staer has started the insolvency procedures, according to Elva Cont, the judiciary administrator. Staer owns a furniture factory in Galati as well as a chain of 24 furniture stores across Romania.

British IT company Endava plans to hire 200 more people in Romania this year and open new delivery centers in the country. The company will organize recruiting events in Bucharest, Iasi and Cluj – Napoca in the following months.

Romanian Finance Minister Gheorghe Ialomitianu on Monday said the International Monetary Fund and the European Commission appreciated Romania’s results under the stand by agreement, adding value added tax revenue covered arrears and kept the budget deficit within agreed margins.

The retailers in the AFI Palace Cotroceni shopping center cashed in EUR 164 million in total sales last year, according to Mediafax newswire. 33 retailers out of 280 have been replaced in the shopping center during the first year of activity, said Visel. The shopping center was opened in November 2009 and has an average traffic of 50,000 people a day during week days and around 80,000 during the week-end.

Romania's foreign exchange reserves rose to EUR 32.69 billion in January, after the International Monetary Fund released a seventh installment of a EUR 13 billion stand-by loan, central bank data showed Tuesday. At the end of December 2010, the reserves were at EUR 32.43 billion.

The International Monetary Fund has asked Romania to discard regulated prices for the production of electricity and natural gas and to draw up a new calculation formula in this respect.

US company IBM company could open a new research center in Targu Mures, central Romania, the company's 11th worldwide center. IBM executive director Spiros Teleoglou and IBM Research executive director Christos J. Georgiou paid a visit to Targu Mures last week and talked about this possibility with the city hall representatives.

Romania plans to spend up to EUR 4 million on promoting the country as a tourist destination on international TV channels. The Romanian Tourism Ministry has started the acquisition procedures for advertising space on international TV channels to promote the country's tourism brand.

The mobile marketing market segment in Romania will grow by 10 percent this year and reach around 100 million text messages, mainly fueled by notifications from banks to their clients, according to Netopia Sistem, which operates the web2sms service.

Romanian lender Banca Transilvania posted a net profit of EUR 23.2 million in 2010, 58 percent higher than the one posted in 2009, the bank has announced. The increase was mainly due to revenues from interests and to the strict cost control, according to the bank.

Romanian furniture producer and retailer Staer has started the insolvency procedures, according to Elva Cont, the judiciary administrator. Staer owns a furniture factory in Galati as well as a chain of 24 furniture stores across Romania.

British IT company Endava plans to hire 200 more people in Romania this year and open new delivery centers in the country. The company will organize recruiting events in Bucharest, Iasi and Cluj – Napoca in the following months.

Romanian Finance Minister Gheorghe Ialomitianu on Monday said the International Monetary Fund and the European Commission appreciated Romania’s results under the stand by agreement, adding value added tax revenue covered arrears and kept the budget deficit within agreed margins.