The European Commission has warned Romania it would start the infringement procedures against the country of it won't change the legislation which stated the drop in salaries for Romanian Central Bank (BNR) employees. According to the EC, this is against certain provisions in the EU Treaty, according to Mediafax quoting official sources.

Take shelter for the storm in Bucharest during the following hours hours – especially in the North and the West of the city, where a storm warning has been released. Meteorologists expect hailstorms and thunderstorms in the capital city.

The amount for which a company can ask for another company's insolvency will increase from the current level of RON 30,000 (approximately EUR 7,000) to RON 45,000 (around EUR 10,400), according to Radu Ghetea, the president of the Romanian Bank Association (ARB).

Romania ranks second in terms of the hourly workforce cost increase among the newest ten EU member states, shows a recent report from the World Bank. The recently issued report on economic development in EU 10 (the countries which joined the EU in 2004 and 2007) shows most of the countries have simplified the procedures to access EU funds, monitor and manage these funds, while Romania has taken measures only on the implementation of these funds.

Consumer credit company Provident Financial Romania granted in the first half of this year loans worth more than EUR 42 million, up from 30 million EUR at the end of June 2009. The company had at the end of June 2010 over 187,000 customers, up from 120,000 customers in June 2009. Its revenues went up to nearly 30 million EUR from 17.5 million EUR in the first half of 2009.

CEC Bank granted EUR 12 million of agricultural loans and guarantee letter for agricultural projects since June 1 this year. The bank has granted 32 such loans and guarantee letters in total. CEC Bank has opened offices dealing with European Funds in all its subsidiaries. It has been working in 320 files for agricultural projects since the beginning of June, worth EUR 90 million in total.

This is a story written by Steven van Groningen on his personal blog. A story about non-performing loans, Romanian accounting standards and the country's risk premium. A must-read story written by a banker in Romania.

Automobile Dacia, Nokia Romania, Rompetrol Rafinare, ArcelorMittal Galati and OMV Petrom were the main exporters from Romania in the first four months of the year, when Romanian exports found a way our of recession, according to data from the National Association of Exporters and Importers (ANEIR).

Romanian nutritional supplements producer PlantExtract will build a drug production factory in Cluj – Napoca with an investment fund of EUR 2.5 million. This will be the company's second production unit. It will be located in Tetarom I industrial park and will double the company's production capacity.

Romanian media, Mioveni, Jucu, and Navodari, the trio that helped drive exports to 10bn euros – in Ziarul Financiar, Consumption rebound on durable goods market can come from rural areas– in Ziarul Financiar, Romanian state puts up for sale 450m-euro stakes on Stock Exchange – in Ziarul Financiar, BCR's strategy: Specialised companies take over operations from bank – in Ziarul Financiar, First IPO in 2010: Intercapital raises money for a fund to invest in Fondul Proprietatea – in Ziarul Financiar

Despite the hostility and open opposition of some of its powerful neighbors, Romania managed to

Romanian language lesson number five. This lesson teaches you to ask for a taxi and get to know some of the most used words in this context.