The American Chamber of Commerce in Romania (AmCham Romania), which represents 300 member companies, has called for maintaining the flat tax in Romania, along with capping social insurance contributions. These should become the central element for the country’s regional competitiveness, especially as Romania competes with countries having more favorable, stable and predictable fiscal regimes.

The airline traffic in Romania reached a volume of 4.57 million passengers for the first six months of the year, according to data from the Transport and Infrastructure Minister. Only 715,000 of these passengers used internal flights, while the rest went on international routes.

Two investment funds, including a U.S.-based one, are interested in buying stakes in Romanian chemical company Oltchim Ramnicu-Valcea, should it be privatized, according to Karoly Borbely, state secretary within the local Economy Ministry, quoted by Mediafax newswire.

(Update adds details about the management contract and about the measures planned by Asesoft group in the last paragraph)

Romanian company Asesoft group has taken over the management of Realitatea Media group and plans to invest EUR 75 million in the group in the following five years, according to Asesoft. Realitatea Media was controlled by media mogul Sorin Ovidiu Vantu. Realitatea Media runs Realitatea TV, The Money Channel TV station, as well as several media products in print.

Retailer Kaufland Romania will open a second hypermarket in Bistrita on a land plot three times larger than the one which hosts the existing Kaufland store in the city, according to Agerpress newswire.

The EU structural funds absorption represents an opportunity to sustain economic growth and to reduce the development gap, which under the circumstances of international financial crisis becomes a new challenge for Romania. Romania-insider.com takes a look at the operational programs designed to improve the economic and social conditions in Romania.

*IMF asking for Oltchim and Cuprumin privatization in the new agreement, which also includes EU funding – in Ziarul Financiar
*Provident makes half a million euro in nine months – in Ziarul Financiar
*Goodyear Dunlop will open five Premio franchises by the end of the year – in Ziarul Financiar
*Patriciu's stores on wheels start selling in Bucharest – in Ziarul Financiar
*EC grants EUR 124 million for Arad- Timisoara highway – in Gandul

The International Monetary Fund and the Romanian authorities have already agreed on next year's budget parameters, Jeffey Franks, head of the IMF mission to Bucharest, said Wednesday. The 2011 budget must be adjusted according to necessities, said Franks when asked by journalists about his view on the parliament's decisions to cut the value added tax level for staple food and to lift the income tax on small pensions.

Romanians buy less than last year but several products stay at the top of the shopping list, such as water, medicine, sweets, coffee, according to Daedalus Group. Around 60 percent of Romanians have said they buy less this year than they did last year.

Romania’s potential new financing agreement with the International Monetary Fund will also include a loan accord with the European Commission, similar to the one signed in 2009, Romanian representative to the IMF, Mihai Tanasescu, said Thursday.

The American Chamber of Commerce in Romania (AmCham Romania), which represents 300 member companies, has called for maintaining the flat tax in Romania, along with capping social insurance contributions. These should become the central element for the country’s regional competitiveness, especially as Romania competes with countries having more favorable, stable and predictable fiscal regimes.

The airline traffic in Romania reached a volume of 4.57 million passengers for the first six months of the year, according to data from the Transport and Infrastructure Minister. Only 715,000 of these passengers used internal flights, while the rest went on international routes.

Two investment funds, including a U.S.-based one, are interested in buying stakes in Romanian chemical company Oltchim Ramnicu-Valcea, should it be privatized, according to Karoly Borbely, state secretary within the local Economy Ministry, quoted by Mediafax newswire.

(Update adds details about the management contract and about the measures planned by Asesoft group in the last paragraph)

Romanian company Asesoft group has taken over the management of Realitatea Media group and plans to invest EUR 75 million in the group in the following five years, according to Asesoft. Realitatea Media was controlled by media mogul Sorin Ovidiu Vantu. Realitatea Media runs Realitatea TV, The Money Channel TV station, as well as several media products in print.

Retailer Kaufland Romania will open a second hypermarket in Bistrita on a land plot three times larger than the one which hosts the existing Kaufland store in the city, according to Agerpress newswire.

The EU structural funds absorption represents an opportunity to sustain economic growth and to reduce the development gap, which under the circumstances of international financial crisis becomes a new challenge for Romania. Romania-insider.com takes a look at the operational programs designed to improve the economic and social conditions in Romania.

*IMF asking for Oltchim and Cuprumin privatization in the new agreement, which also includes EU funding – in Ziarul Financiar
*Provident makes half a million euro in nine months – in Ziarul Financiar
*Goodyear Dunlop will open five Premio franchises by the end of the year – in Ziarul Financiar
*Patriciu's stores on wheels start selling in Bucharest – in Ziarul Financiar
*EC grants EUR 124 million for Arad- Timisoara highway – in Gandul

The International Monetary Fund and the Romanian authorities have already agreed on next year's budget parameters, Jeffey Franks, head of the IMF mission to Bucharest, said Wednesday. The 2011 budget must be adjusted according to necessities, said Franks when asked by journalists about his view on the parliament's decisions to cut the value added tax level for staple food and to lift the income tax on small pensions.

Romanians buy less than last year but several products stay at the top of the shopping list, such as water, medicine, sweets, coffee, according to Daedalus Group. Around 60 percent of Romanians have said they buy less this year than they did last year.

Romania’s potential new financing agreement with the International Monetary Fund will also include a loan accord with the European Commission, similar to the one signed in 2009, Romanian representative to the IMF, Mihai Tanasescu, said Thursday.