Works on the second stage of the China Town Romania real estate project, which should reach a value of EUR 50 million, will start on August 17. This phase of works should be finalized in 2013, according to the Chinese- Romanian Chamber of Commerce.

Banks are increasing loan prices instead of making them cheaper – in Ziarul Financiar, Govt prepares new changes to Labor Code – in Ziarul Financiar, Family Frost fails in Romania – EUR 10 mln lost on stores on wheels – in Ziarul Financiar, RBS reduces local exposure to EUR 292 million – in Ziarul Financiar

Terapia Ranbaxy sales increase by 21 percent in first half of the year – in Ziarul Financiar

Romanian Railways (CFR) Calatori employees will enter a period of 60 days of technical unemployment, a period during which they will receive 75 percent of their basic salary, the company has announced. The measure will be applied to all of CFR Calatori's employees, 15,000 people, including management, who will take turns in staying at home for 60 days until the end of the year.

Insurance company Ardaf posted a volume of gross subscribed premiums of EUR 33.2 million (RON 141.1 million) in the first half of the year, which was down 13.5 percent on the same period of last year. However, the company managed to post a profit of EUR 2.1 million (RON 9 million).

Telecom operator Orange will launch a pre-paid card for Internet access tomorrow, with prices starting EUR 5, the company has announced. The announcement comes soon after its competitors, Vodafone and Comoste, had already launched such services.

Drug producer Terapia Ranbaxy grew its sales by 21 percent in the first half of the year in Romania, to USD 48 million, according to the company's most recent financial report. The company was helped by the restructuring process and by rationalization, which counterbalanced the negative market conditions, according to the company.

The Romanian technical consumer goods market has slowed down its decrease in the second quarter of the year, with sales only 15 percent lower compared to the same period of last year, found a monitoring by GfK. However, the value of this market segment was slightly lower compared to the first quarter and the negative tendency could continue, if we take into account the VAT increase from July 1st.

Several Romanian ministries and the World Bank are undertaking a Functional Review of their activity to identify actions that would improve the quality and cost-effectiveness of public services in the country, the World Bank has announced

The net assets of the nine privately managed pensions funds in Romania reached EUR 835 million in July this year, which is a 49.2 percent increase compared to December 2009, according to the Private Pensions System Surveillance Commission. The value of private pension funds assets has increased two-fold compared to June 2009.

Mercadia Holland, a company controlled by Romanian businessman Dinu Patriciu, has taken over discount retailer MiniMAX DISCOUNT, in a deal whose value was not revealed. The 31-unit network used to be controlled by Austrian Real4You and two individuals, Rainer Exel and Andreas Kampf.

Works on the second stage of the China Town Romania real estate project, which should reach a value of EUR 50 million, will start on August 17. This phase of works should be finalized in 2013, according to the Chinese- Romanian Chamber of Commerce.

Banks are increasing loan prices instead of making them cheaper – in Ziarul Financiar, Govt prepares new changes to Labor Code – in Ziarul Financiar, Family Frost fails in Romania – EUR 10 mln lost on stores on wheels – in Ziarul Financiar, RBS reduces local exposure to EUR 292 million – in Ziarul Financiar

Terapia Ranbaxy sales increase by 21 percent in first half of the year – in Ziarul Financiar

Romanian Railways (CFR) Calatori employees will enter a period of 60 days of technical unemployment, a period during which they will receive 75 percent of their basic salary, the company has announced. The measure will be applied to all of CFR Calatori's employees, 15,000 people, including management, who will take turns in staying at home for 60 days until the end of the year.

Insurance company Ardaf posted a volume of gross subscribed premiums of EUR 33.2 million (RON 141.1 million) in the first half of the year, which was down 13.5 percent on the same period of last year. However, the company managed to post a profit of EUR 2.1 million (RON 9 million).

Telecom operator Orange will launch a pre-paid card for Internet access tomorrow, with prices starting EUR 5, the company has announced. The announcement comes soon after its competitors, Vodafone and Comoste, had already launched such services.

Drug producer Terapia Ranbaxy grew its sales by 21 percent in the first half of the year in Romania, to USD 48 million, according to the company's most recent financial report. The company was helped by the restructuring process and by rationalization, which counterbalanced the negative market conditions, according to the company.

The Romanian technical consumer goods market has slowed down its decrease in the second quarter of the year, with sales only 15 percent lower compared to the same period of last year, found a monitoring by GfK. However, the value of this market segment was slightly lower compared to the first quarter and the negative tendency could continue, if we take into account the VAT increase from July 1st.

Several Romanian ministries and the World Bank are undertaking a Functional Review of their activity to identify actions that would improve the quality and cost-effectiveness of public services in the country, the World Bank has announced

The net assets of the nine privately managed pensions funds in Romania reached EUR 835 million in July this year, which is a 49.2 percent increase compared to December 2009, according to the Private Pensions System Surveillance Commission. The value of private pension funds assets has increased two-fold compared to June 2009.

Mercadia Holland, a company controlled by Romanian businessman Dinu Patriciu, has taken over discount retailer MiniMAX DISCOUNT, in a deal whose value was not revealed. The 31-unit network used to be controlled by Austrian Real4You and two individuals, Rainer Exel and Andreas Kampf.