BCR, the largest Romanian bank by assets, controlled by the Austrian Erste Group, posted a net profit of RON 494.5 million (EUR 117.7 million) for the first nine months of this year, down by 29.3 percent on end-September 2009, according to BCR Group’s consolidated financial statements.

The European Bank for Reconstruction and Development (EBRD) Thursday revised upward its forecast for Romanian economy to minus 2 percent in 2010, from a contraction of 3 percent previously estimated, citing slightly improvements over recent months. In its latest economic outlook, the EBRD said Romania has managed to remain "on course" with its EUR 20 billion IMF-led program by implementing austerity measures that will keep the fiscal accounts under control.

*Franks, IMF: The Emergency Ordinance 50 is a must in order to get the next loan tranche – in Ziarul Financiar
*Carrefour found another EUR 60 million for local operations. Romanian retails start falling – in Ziarul Financiar
*Orange's revenues drop mainly on the prepay segment – in Ziarul Financiar
*The GP per capital will return to the 2008 level only in 2013 – in Ziarul Financiar
*Eximbank grows loans portfolio by 20% to EUR 118 million – in Ziarul Financiar
*100,000 Dacias with GPL – on Adevarul

The Romanian Government Thursday approved the legal framework to set up a national visa information system which will enable the country to connect to the European Union Visa Information System, said Government spokeswoman Ioana Muntean.

FRIDAY, October 29

19,00 hours Debate workshop, at Diverta – Plaza Romania, 26 Timisoara Blvd.

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Movies opening this week-end:

The Social Network (trailer below)

with Jesse Eisenberg, Justin

Three Romanian movies will participate in the New Waves, New Ways festival in Prague. Feature

Oil and gas company Rompetrol has invested over USD 300,000 in corporate social responsibility programs in Romania, mostly focusing on health care and environment protection in 2010, according to the company.

he emergency ordinance 50/2010 on consumer lending contracts should only be applied to new contracts and not to existing ones, said Jeffrey Franks, the head of the International Monetary Fund (IMF) delegation in Romania. Moreover, this will be a condition for Romania receiving the next IMF loan tranche, according to Franks. “The way the European directive was transposed into the Romanian legislation will trigger difficulties and costs.

Honda Marine, the Honda division which produces boat engines, has entered the Romanian market with a EUR 0.5 million investment.

Carrefour Romania, the local subsidiary of French retailer Carrefour, will borrow EUR 60 million from its main shareholder Carrefour Netherland B.V., according to the Official Journal.

Romania will keep troops in Afghanistan until the accomplishment of the NATO mission in that country, Romanian President Traian Basescu (in picture) said after meeting Alliance Secretary-General Anders Fogh Rasmussen at the organisation's headquarters on Thursday.