The hike in 2010 of pump prices in Romania was groundless and did not reflect the evolution of international quotes for crude oil, exchange rates and duties and fees, while most of the local oil firms reported significant losses, and their real profits were not reflected accordingly.

Private equity company Enterprise Investors plans to raise a new investment fund in 2011 targeting several countries in the SEE region, Romania included. The new buyout fund, Polish Enterprise Fund VII, will start raising money mid-2011, as Polish Enterprise Fund VI is almost fully invested, according to Enterprise Investors.

T-Systems, the IT services division of German Deutsche Telekom, has opened a subsidiary in Romania. The company is called T-Systems ICT Romania and is managed by Peter Ilosvai, the head of T-System in Hungary and by Roman Kuka

Oil company Lukoil plans to shut down its Petrotel refinery in Ploiesti, Romania, for maintenance next month. The halt will last for two weeks, between February 13 and 18, for regular equipment inspections, the company has announced.

Fondul Proprietatea (FP) might seek stock exchange listings in London, Warsaw, Vienna or Hong Kong, Mark Mobius, executive chairman of PF manager Franklin Templeton Emerging Markets said on Tuesday, the first day of trading for the fund's shares on the Bucharest Stock Exchange.

The first day of trading for Fondul Proprietatea shares triggered a record volume of over EUR 50 million in trading with FP shares. The maximum price per share was of RON 0.675 during the first trading day, below the nominal value of the fund's shares, which is of RON 1. The fund's shares recorded 5,638 trades on the first day, which was a record on BSE. The day also brought the highest number of pre-opening orders on a single listed share- 3,500.

The European Bank for Reconstruction and Development Monday revised upward its forecast for Romanian economic growth to 1.1 percent in 2011, from 0.9 percent previously, citing slightly improvements over recent months.

Artmark auction house recorded auction art sales of EUR 5.5 million last year, which makes up for 68 percent of the local art sales, according to data from the company. The company posted EUR 1.8 million in auction sales in 2009, which made 48 percent of the market.

The first transactions with the Fondul Proprietatea shares were held at a price of RON 0.602 per share this morning, when the fund was listed on the Bucharest Stock Exchange (BSE). The fund was listed directly, without an Initial Public Offering (IPO). More about the evolution of the fund's shares here.

Romanian state-owned airline Tarom wants to break even in 2011, after its 2010 budget provided for a EUR 4.6 million, according to a draft government decision by the Ministry of Transport. In 2009, Tarom projected around a EUR 176,000 profit, but the net result was actually around a EUR 21 million loss.

The hike in 2010 of pump prices in Romania was groundless and did not reflect the evolution of international quotes for crude oil, exchange rates and duties and fees, while most of the local oil firms reported significant losses, and their real profits were not reflected accordingly.

Private equity company Enterprise Investors plans to raise a new investment fund in 2011 targeting several countries in the SEE region, Romania included. The new buyout fund, Polish Enterprise Fund VII, will start raising money mid-2011, as Polish Enterprise Fund VI is almost fully invested, according to Enterprise Investors.

T-Systems, the IT services division of German Deutsche Telekom, has opened a subsidiary in Romania. The company is called T-Systems ICT Romania and is managed by Peter Ilosvai, the head of T-System in Hungary and by Roman Kuka

Oil company Lukoil plans to shut down its Petrotel refinery in Ploiesti, Romania, for maintenance next month. The halt will last for two weeks, between February 13 and 18, for regular equipment inspections, the company has announced.

Fondul Proprietatea (FP) might seek stock exchange listings in London, Warsaw, Vienna or Hong Kong, Mark Mobius, executive chairman of PF manager Franklin Templeton Emerging Markets said on Tuesday, the first day of trading for the fund's shares on the Bucharest Stock Exchange.

The first day of trading for Fondul Proprietatea shares triggered a record volume of over EUR 50 million in trading with FP shares. The maximum price per share was of RON 0.675 during the first trading day, below the nominal value of the fund's shares, which is of RON 1. The fund's shares recorded 5,638 trades on the first day, which was a record on BSE. The day also brought the highest number of pre-opening orders on a single listed share- 3,500.

The European Bank for Reconstruction and Development Monday revised upward its forecast for Romanian economic growth to 1.1 percent in 2011, from 0.9 percent previously, citing slightly improvements over recent months.

Artmark auction house recorded auction art sales of EUR 5.5 million last year, which makes up for 68 percent of the local art sales, according to data from the company. The company posted EUR 1.8 million in auction sales in 2009, which made 48 percent of the market.

The first transactions with the Fondul Proprietatea shares were held at a price of RON 0.602 per share this morning, when the fund was listed on the Bucharest Stock Exchange (BSE). The fund was listed directly, without an Initial Public Offering (IPO). More about the evolution of the fund's shares here.

Romanian state-owned airline Tarom wants to break even in 2011, after its 2010 budget provided for a EUR 4.6 million, according to a draft government decision by the Ministry of Transport. In 2009, Tarom projected around a EUR 176,000 profit, but the net result was actually around a EUR 21 million loss.