The austerity measures meant to reduce budget spending in Romania, namely the 15 percent pensions cuts are not constitutional, the Romanian Constitutional Court has decided. However, the 25 percent cut of state clerk salaries is constitutional, the Constitutional Court has decided.

Austrian investment fund CA Immo, which has properties on the Romanian market, has acquired Europolis, another fund active locally, CA Immo has announced. The purchase price was of EUR 272 million, while the book property value of Europolis' assets is of EUR 1.5 billion.

H&M enters in Unirii, Plaza and Mall – in Ziarul Financiar, Decathlon sells EUR 1 mln of sportswear each month – in Ziarul Financiar, Taxation on stocks changes in a week, but nobody knowns how changes will apply – in Ziarul Financiar, Dorin Boboc from Allianz leaves services for agriculture – in Ziarul Financiar

Romanians still prefer loans in foreign currencies – in Gandul

H&M fashion retailer will open the first store in Romania in 2011, according to a recent report published by the company...

The Swiss Government has approved a EUR 130 million non-reimbursable loan for Romania, which will fuel investments in the environment, infrastructure and the promotion of the private sector in the next five years

The value of loans granted by banks to individuals and companies (the non-governmental loans) went up by 1.4 percent in May this year compared to the month before. The increase compared to May last year was of 2 percent. The governmental loans went up by as much as 60 percent in May this year compared to May last year.

French retailer Carrefour will open its fourth Carrefour Market supermarket in Bucharest tomorrow (Friday, June 25th) in Ghencea area of the city. The store covers 1,200 sqm and is located within Home & Design Mall. This is the second supermarket opening for Carrefour in Bucharest this week, after another store opened on Panduri street, a 700 sqm unit.

Energy Financing Team (EFT) will supply energy to Stirom factory in Bucharest and the Lukoil refinery in Ploiesti, after having recently signed a contract with the two companies. Stirom has an annual consumption of 45GWh, while the Lukoil refinery, of 200GWh. EFT has also recently signed an energy supplying contract with cement producer Holcim for all its factories in Romania.

Lidl rents out offices for 250 employees in Pipera – in Ziarul Financiar
e-Romania project will swallow another EUR 84 million initially destined to telecom operators - in Ziarul Financiar
Stem-Health shareholders want to create a transplant center with EUR 10 million – in Ziarul Financiar
Sanofi-Aventis, hunting for pharma products - in Ziarul Financiar

The Romanian Government approved in its meeting earlier today (June 23rd) the emergency ordinance which expands the taxation base, according to Mediafax, quoting sources within the Government. The ordinance includes taxes for meal vouchers, gift and holiday vouchers starting July 1st this year. This is when the deductible expenses quota for intellectual property rights will go down to 20 percent of the gross revenues, half of the current quota. Revenues from gambling (including revenues from the lottery) will be taxed by 25 percent.

The austerity measures meant to reduce budget spending in Romania, namely the 15 percent pensions cuts are not constitutional, the Romanian Constitutional Court has decided. However, the 25 percent cut of state clerk salaries is constitutional, the Constitutional Court has decided.

Austrian investment fund CA Immo, which has properties on the Romanian market, has acquired Europolis, another fund active locally, CA Immo has announced. The purchase price was of EUR 272 million, while the book property value of Europolis' assets is of EUR 1.5 billion.

H&M enters in Unirii, Plaza and Mall – in Ziarul Financiar, Decathlon sells EUR 1 mln of sportswear each month – in Ziarul Financiar, Taxation on stocks changes in a week, but nobody knowns how changes will apply – in Ziarul Financiar, Dorin Boboc from Allianz leaves services for agriculture – in Ziarul Financiar

Romanians still prefer loans in foreign currencies – in Gandul

H&M fashion retailer will open the first store in Romania in 2011, according to a recent report published by the company...

The Swiss Government has approved a EUR 130 million non-reimbursable loan for Romania, which will fuel investments in the environment, infrastructure and the promotion of the private sector in the next five years

The value of loans granted by banks to individuals and companies (the non-governmental loans) went up by 1.4 percent in May this year compared to the month before. The increase compared to May last year was of 2 percent. The governmental loans went up by as much as 60 percent in May this year compared to May last year.

French retailer Carrefour will open its fourth Carrefour Market supermarket in Bucharest tomorrow (Friday, June 25th) in Ghencea area of the city. The store covers 1,200 sqm and is located within Home & Design Mall. This is the second supermarket opening for Carrefour in Bucharest this week, after another store opened on Panduri street, a 700 sqm unit.

Energy Financing Team (EFT) will supply energy to Stirom factory in Bucharest and the Lukoil refinery in Ploiesti, after having recently signed a contract with the two companies. Stirom has an annual consumption of 45GWh, while the Lukoil refinery, of 200GWh. EFT has also recently signed an energy supplying contract with cement producer Holcim for all its factories in Romania.

Lidl rents out offices for 250 employees in Pipera – in Ziarul Financiar
e-Romania project will swallow another EUR 84 million initially destined to telecom operators - in Ziarul Financiar
Stem-Health shareholders want to create a transplant center with EUR 10 million – in Ziarul Financiar
Sanofi-Aventis, hunting for pharma products - in Ziarul Financiar

The Romanian Government approved in its meeting earlier today (June 23rd) the emergency ordinance which expands the taxation base, according to Mediafax, quoting sources within the Government. The ordinance includes taxes for meal vouchers, gift and holiday vouchers starting July 1st this year. This is when the deductible expenses quota for intellectual property rights will go down to 20 percent of the gross revenues, half of the current quota. Revenues from gambling (including revenues from the lottery) will be taxed by 25 percent.