Kazakhstan’s KazMunayGas, the owner of Rompetrol group, is ready to buy back the shares the Romanian state could take over in Rompetrol Rafinare, according to the Rompetrol president Saduokhas Meraliyev. The state could do this if KazMunayGas will not pay its entire debt to the Romanian state. The state could sell the shares to third parties, but KazMunayGas has the preemption rights

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.

A Rolls-Royce Phantom Coupe was registered in Romania in June this year, the first such car after one and a half years, according to Mediafax newswire. The car is priced at EUR 340,000 in Europe, but it was not bought through Automobile Bavaria, the car brand representative in Romania, according to the newswire.

Black Sea Global Services (BSGS), the real estate investment fund set up by Romanian investor Dinu Patriciu, has merged...

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.

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

Romanian media, Horia Ciorcila charged with Stock Exchange manipulation – in Ziarul Financiar, Annual inflation down to 4.38% in June – in Ziarul Financiar, Vladescu: We need progressive taxation, flat tax is no longer coping – in Ziarul Financiar, Impact goes insolvent over a debt equivalent to three apartments' worth – in Ziarul Financiar, Government comes up with third plan to reboot economy – in Ziarul Financiar

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.

Kazakhstan’s KazMunayGas, the owner of Rompetrol group, is ready to buy back the shares the Romanian state could take over in Rompetrol Rafinare, according to the Rompetrol president Saduokhas Meraliyev. The state could do this if KazMunayGas will not pay its entire debt to the Romanian state. The state could sell the shares to third parties, but KazMunayGas has the preemption rights

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.

A Rolls-Royce Phantom Coupe was registered in Romania in June this year, the first such car after one and a half years, according to Mediafax newswire. The car is priced at EUR 340,000 in Europe, but it was not bought through Automobile Bavaria, the car brand representative in Romania, according to the newswire.

Black Sea Global Services (BSGS), the real estate investment fund set up by Romanian investor Dinu Patriciu, has merged...

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.

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

Romanian media, Horia Ciorcila charged with Stock Exchange manipulation – in Ziarul Financiar, Annual inflation down to 4.38% in June – in Ziarul Financiar, Vladescu: We need progressive taxation, flat tax is no longer coping – in Ziarul Financiar, Impact goes insolvent over a debt equivalent to three apartments' worth – in Ziarul Financiar, Government comes up with third plan to reboot economy – in Ziarul Financiar

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.