The Romanian banking system is most likely to end 2010 posting a loss, believes Dominic Bruynseels, executive president of BCR (in picture), the biggest bank on the Romanian market. “It is pretty possible to end on loss due to the pressure we've been discussing, according to RAS (the local accounting standards),” said Bruynseels when asked whether he thinks the banking system will post a loss this year.

Telecom operator Cosmote grew its revenues by 6.3 percent in the second quarter of this year, to EUR 115 million, according to data announced by its mother company OTE. The revenues for the first half of the year reached EUR 229 million, up 9.7 percent on the first half of 2009.

Romanians would like to improve their work-life balance, found a recent study carried on by PricewaterhouseCoopers (PwC). 40 percent of Romanians say that in 10 years time they would like to enjoy a better work-life balance, while 28 percent state that they wish to be self-employed in the next decade, according to the 'Managing Tomorrow’s People' study.

Known as the “the father of modern sculpture”, Constantin Brancusi was a painter, architect and a master of “abstract art”. Through his original work he became one of the most well-known sculptors of the 20th century and Romania’s most famous international artist.

The austerity measures taken by the Romanian government, which were initially announced to end in 2011, will have to be kept next year so that the country can achieve the targets it has agreed with the International Monetary Fund (IMF).

Local dairy maker Albalact saw its net profit decline by 14 percent, to around EUR 580,000, mainly due to the increase in the foreign exchange rate in June, which triggered double financial expenses. “The dairy market goes through a very tough period, due to the dramatic decline of the purchasing power, which puts pressure on prices. We will continue to expand our portfolio, the distribution and the client network and we will have new launches and new promotions,” said Raul Ciurtin, president and general manager of Albalact.

Linda Griffin is the new general manager of the Athénée Palace Hilton Bucharest, the hotel has announced. She will start at the helm of the hotel on September 1st, following the departure of Friedrich W. Niemann. Niemann has been running the five-star hotel for the last five years.

Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues went down by 11 percent in the second quarter of the year, to EUR 178.7 million, while its EBITDA was 59 percent lower, to EUR 24.4 million.

Romanian language lesson number 7 - Going shopping, useful words and expressions

Romanian car brand Dacia, which is now being produced by French Renault, is the subject of a recent photo story published by Time magazine. Under the headline “The Dacia, the Romanian car that could”, Time magazine goes through the history of Dacia, calling it a 'cult classic'. “The car's design remained basically unchanged for 35 years, outlasting both the Ceaucescus and their Soviet masters,” writes Time.

The Romanian banking system is most likely to end 2010 posting a loss, believes Dominic Bruynseels, executive president of BCR (in picture), the biggest bank on the Romanian market. “It is pretty possible to end on loss due to the pressure we've been discussing, according to RAS (the local accounting standards),” said Bruynseels when asked whether he thinks the banking system will post a loss this year.

Telecom operator Cosmote grew its revenues by 6.3 percent in the second quarter of this year, to EUR 115 million, according to data announced by its mother company OTE. The revenues for the first half of the year reached EUR 229 million, up 9.7 percent on the first half of 2009.

Romanians would like to improve their work-life balance, found a recent study carried on by PricewaterhouseCoopers (PwC). 40 percent of Romanians say that in 10 years time they would like to enjoy a better work-life balance, while 28 percent state that they wish to be self-employed in the next decade, according to the 'Managing Tomorrow’s People' study.

Known as the “the father of modern sculpture”, Constantin Brancusi was a painter, architect and a master of “abstract art”. Through his original work he became one of the most well-known sculptors of the 20th century and Romania’s most famous international artist.

The austerity measures taken by the Romanian government, which were initially announced to end in 2011, will have to be kept next year so that the country can achieve the targets it has agreed with the International Monetary Fund (IMF).

Local dairy maker Albalact saw its net profit decline by 14 percent, to around EUR 580,000, mainly due to the increase in the foreign exchange rate in June, which triggered double financial expenses. “The dairy market goes through a very tough period, due to the dramatic decline of the purchasing power, which puts pressure on prices. We will continue to expand our portfolio, the distribution and the client network and we will have new launches and new promotions,” said Raul Ciurtin, president and general manager of Albalact.

Linda Griffin is the new general manager of the Athénée Palace Hilton Bucharest, the hotel has announced. She will start at the helm of the hotel on September 1st, following the departure of Friedrich W. Niemann. Niemann has been running the five-star hotel for the last five years.

Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues went down by 11 percent in the second quarter of the year, to EUR 178.7 million, while its EBITDA was 59 percent lower, to EUR 24.4 million.

Romanian language lesson number 7 - Going shopping, useful words and expressions

Romanian car brand Dacia, which is now being produced by French Renault, is the subject of a recent photo story published by Time magazine. Under the headline “The Dacia, the Romanian car that could”, Time magazine goes through the history of Dacia, calling it a 'cult classic'. “The car's design remained basically unchanged for 35 years, outlasting both the Ceaucescus and their Soviet masters,” writes Time.