More companies decided to cancel their business activity in Romania in the first half of this year than in the same period of last year, according to data from the National Trade Registry (ONRC). There was a whooping six times increase in the number of firms which filed for voluntary cancellation of their business, to 118,000. The amount also includes automatic cancellations.

The Blue Air group of companies has invested over EUR 800,000 in two self service restaurants in Sibiu and Bucharest, under the Self brand. The first such restaurant has been opened four months ago in Sibiu, while the one in Bucharest was opened on Wednesday (July 14) in Buzesti area of the capital city.

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea investment...

Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

Insurer Groupama Asigurari said it will pay around EUR 461,000 in damages following the flooding in Romania. “The...

The disposable income in Romania will drop by around 10 percent this year and by a further 0.8 percentage points in 2011...

After a good first quarter which brought profits for banks in Romania, the local banking system posted a loss of around EUR 49 million after the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million.

Razvan Sin is the new head of the retail department with DTZ Echinox, the firm has announced. He will replace Aura Voiculescu, who has stepped down to pursue a business school abroad. Razvan Sin has joined the real estate consultancy firm in 2007.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

More companies decided to cancel their business activity in Romania in the first half of this year than in the same period of last year, according to data from the National Trade Registry (ONRC). There was a whooping six times increase in the number of firms which filed for voluntary cancellation of their business, to 118,000. The amount also includes automatic cancellations.

The Blue Air group of companies has invested over EUR 800,000 in two self service restaurants in Sibiu and Bucharest, under the Self brand. The first such restaurant has been opened four months ago in Sibiu, while the one in Bucharest was opened on Wednesday (July 14) in Buzesti area of the capital city.

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea investment...

Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

Insurer Groupama Asigurari said it will pay around EUR 461,000 in damages following the flooding in Romania. “The...

The disposable income in Romania will drop by around 10 percent this year and by a further 0.8 percentage points in 2011...

After a good first quarter which brought profits for banks in Romania, the local banking system posted a loss of around EUR 49 million after the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million.

Razvan Sin is the new head of the retail department with DTZ Echinox, the firm has announced. He will replace Aura Voiculescu, who has stepped down to pursue a business school abroad. Razvan Sin has joined the real estate consultancy firm in 2007.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.