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30 November 2010

*The biggest mall on the stock exchange gained EUR 8 million in a day – in Ziarul Financiar
*How are the millions of euros invested in wind mills recovered? By a 30% increase in the energy bill – in Ziarul Financiar
*Halving of provisions lead to double profit for Raiffeisen in Romania in the third quarter – in Ziarul Financiar
*Head of Rolang Berger Romania, promoted to regional level – in Ziarul Financiar

29 November 2010

New Europe Property Investments (NEPI) fund has bought the Floreasca Business Park office complex in Bucharest at a purchase price of EUR 27.6 million, having valued the building at around EUR 100 million. This is the largest deals on the Romanian real estate market this year.

29 November 2010

Employees have to give at least 20 business days prior notice when resigning, or 45 days if they hold a management position, says the draft act amending Romania's Labor Code, obtained by Mediafax newswire. The amendment extends the requirement to 20 days from 15 in the case of ordinary employees, and to 45 days from 30 in the case of the management

29 November 2010

Investment fund Fondul Proprietatea will be listed on the Bucharest Stock Exchange on January 25 next year, according to investment manager Franklin Templeton. The listing prospect will be submitted on December 3 with the National Securities Commission (CNVM). The fund will be promoted locally and internationally between January 10 and 31 next year.

29 November 2010

Romania will record an 1.5 percent growth of its Gross Domestic Product (GDP) in 2011, while this year it will shrink by 1.9 percent from 2009, shows the autumn economic forecast issued by the European Commission.

29 November 2010

The activity in Romania has helped Raiffeisen International decrease its provisions for South Eastern Europe since the beginning of the year, as a result of the sale of retail customer loans.

29 November 2010

Local company BDR Associates Communication Group, affiliated with Hill & Knowlton expects to post a USD 1.8 million turnover this year, close to the average of the last five years.

29 November 2010

Mihai Mares (in picture), the former Office Managing Partner of Garrigues in Romania, has joined Musat & Asociatii law firm, along with the team which used to work for Garrigues in Romania.

29 November 2010

The city of Sibiu has applied for a EUR 11.5 million loan from the European Bank for Reconstruction and Development (EBRD) to upgrade and refurbish streets mainly along public transport routes in the city and the construction of a new bridge.

29 November 2010

Romanian Christians will celebrate St. Andrei (Andrew) on November 30, when over 600,000 Romanians named Andrei, Andreea, Andra, Andreas will also celebrate their name day. St. Andrei is known as Romanians' apostle and Romania's spiritual patron.

29 November 2010

Local company Oltchim Ramnicu Valcea, listed on the Bucharest Stock Exchange (symbol OLT) posted a turnover of EUR 32 million in October, up 14 percent on the average in the first ten months this year.

29 November 2010

Romania could receive an extra EUR 306 million from Norway, as the SEE Grants and Norwegian Grants programs have been extended until 2014. The funds will contribute to Romania's economic and social cohesion development. Money will go to areas like climate change, renewable energy, green industry innovation and in promoting the concept of decent work.

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