*IMF takes into account third year of economic drop for 2011 – in Ziarul Financiar
*Bancpost and Banca Romaneasca take EUR 15 mln from Avrig 35 – in Ziarul Financiar
*Praktiker had the biggest sales decline – down 25% after the VAT drop – in Ziarul Financiar
*Banks had to recover EUR 3.5 bln from clients – in Ziarul Financiar
*ProTV, USD 109 million turnover in nine months – in Ziarul Financiar

“Iasi is more than a former illustrious capital of Moldavia, within its walls art and national historical treasures dwell, such abundant treasures that no other city in today’s Romania possesses,“ wrote historian Nicolae Iorga. For most cultures known as Iassy, the main urban center in Nord-Eastern Romania, a former capital of Moldavia and later of Romania, this is today’s third largest city in Romania and the second largest university and cultural center.

Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Local lender Banca Transilvania posted a gross profit of EUR 23.3 million, while its net profit for the first nine moths of the year stayed at EUR 16.2 million, up 44 percent on the same period of last months.

American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

The renewable energy industry could attract investments of up to EUR 9 billion in Romania, considering the high potential on this market, according to Gabriel Sidere, managing partner with CMS Cameron McKenna Bucharest, who attended the "Green. The Future of Energy' conference in Bucharest.

The Romanian business scene witnessed several moves at the helm of both local and international companies this year. Romania-Insider.com looks at some of the most important top management changes in Romania in 2010. (Click MORE below to read the full story about the top management change)

Alina Cojocaru is a Romanian ballerina and one of the most acclaimed international stars. Often compared to Margot...

Adrian Baicusi (in picture), the general manager of Romania’s state-run power grid operator Transelectrica (BVB ticker: TEL), will be replaced by Stelian Alexandru Gal, the former GM of the company, effective November 15, according to a news release sent to the Bucharest Stock Exchange (BVB).

Central European Media Enterprises, which owns several TV stations in Romania, posted USD 109 million in net revenues on the broadcast segment in the first nine months of the year, down USD 10.9 million on the same period of last year. The third quarter of the year meant net revenues of USD 29 million for the company in Romania, down USD 6.8 million on the third quarter of 2009.

*IMF takes into account third year of economic drop for 2011 – in Ziarul Financiar
*Bancpost and Banca Romaneasca take EUR 15 mln from Avrig 35 – in Ziarul Financiar
*Praktiker had the biggest sales decline – down 25% after the VAT drop – in Ziarul Financiar
*Banks had to recover EUR 3.5 bln from clients – in Ziarul Financiar
*ProTV, USD 109 million turnover in nine months – in Ziarul Financiar

“Iasi is more than a former illustrious capital of Moldavia, within its walls art and national historical treasures dwell, such abundant treasures that no other city in today’s Romania possesses,“ wrote historian Nicolae Iorga. For most cultures known as Iassy, the main urban center in Nord-Eastern Romania, a former capital of Moldavia and later of Romania, this is today’s third largest city in Romania and the second largest university and cultural center.

Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Local lender Banca Transilvania posted a gross profit of EUR 23.3 million, while its net profit for the first nine moths of the year stayed at EUR 16.2 million, up 44 percent on the same period of last months.

American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

The renewable energy industry could attract investments of up to EUR 9 billion in Romania, considering the high potential on this market, according to Gabriel Sidere, managing partner with CMS Cameron McKenna Bucharest, who attended the "Green. The Future of Energy' conference in Bucharest.

The Romanian business scene witnessed several moves at the helm of both local and international companies this year. Romania-Insider.com looks at some of the most important top management changes in Romania in 2010. (Click MORE below to read the full story about the top management change)

Alina Cojocaru is a Romanian ballerina and one of the most acclaimed international stars. Often compared to Margot...

Adrian Baicusi (in picture), the general manager of Romania’s state-run power grid operator Transelectrica (BVB ticker: TEL), will be replaced by Stelian Alexandru Gal, the former GM of the company, effective November 15, according to a news release sent to the Bucharest Stock Exchange (BVB).

Central European Media Enterprises, which owns several TV stations in Romania, posted USD 109 million in net revenues on the broadcast segment in the first nine months of the year, down USD 10.9 million on the same period of last year. The third quarter of the year meant net revenues of USD 29 million for the company in Romania, down USD 6.8 million on the third quarter of 2009.