Just days before an International Monetary Fund mission is expected in Bucharest for another review of the stand-by agreement with Romania, neighbor country Hungary, which has taken a similar size loan package from the IMF is likely to be denied access to the remaining of its financing package. The IMF and the European Union have suspended evaluation discussions with Hungarian government representatives, warning the country needs to take drastic measures to cut the budget deficit.

Calendar of events for the period between July 19-22

Romanian charity Ovidiu Rom and the US – based charity Alex Fund will organize a fund raising gala

Kiseleff boulevard in Bucharest will become a car free area during week-end and will be dedicated to sports activities starting this week-end, until August 8. The project, called 'Via Sport', will feature basket, soccer, badminton and ping-pong areas, the Bucharest municipality has announced.

The Otopeni Air Show, which will start tomorrow on the Otopeni airport in Bucharest, will be broadcast live on the Internet, on the airport's website. The event will start at 10,00 on Saturday, July 17.

Investment fund Bancroft has bough the bulk in local transport company Dumagas Transport, the two

The minimum tax will be canceled this fall while the flat tax will be kept, according to Romanian Prime Minister Emil Boc. Progressive taxation will fail to raise more money to the state budget compared to the current revenues.

The average contribution to mandatory private pensions for each contributor went up 22 percent in

Shrek Forever After (trailer below)

with Cameron Diaz, Eddie Murphy, Mike Myers (voices). On at

French retailer Carrefour posted sales of EUR 265 million in the second quarter of the year in Romania, which was a drop of 5.8 percent compared to the same period of last year, excluding currency exchange rate impact. These are its sales in local currency. The group's like-for-like sales were down by 7.2 percent.

Romanian media

Isărescu: Without pension adjustment, we cannot talk about economic growth – in

The Bucharest – Constanta railway track will be modernized so that the train ride between the two