Multinational companies are interested in relocating their production activity from Romania to the Republic of Moldova to take advantage of the lower workforce and operations costs, according to the Moldavian Economy Minister Valeriu Lazar.

Romania’s economy will shrink at the fastest pace among emerging states in Europe this year, while its estimated growth of 1.5 percent for 2011 will be the smallest in the region, the International Monetary Fund said in its latest global outlook report. The IMF forecasts Romania's gross domestic product will decrease 1.9 percent in 2010, from a steep contraction of 7.1 percent a year earlier.

Futureal and Immofinanz will open the EUR 100 million Gold Plaza shopping center in Baia Mare on November 4, after previously setting the opening date for September this year. The developers had been planning to finalize the shopping center in 2008, but the project was delayed for 2009 and finally for 2010. The shopping mall has been 80 percent financed through a loan from MKB Bank.

UPDATE: Romanian Environment Minister Laszlo Borbely said the toxic residues from Hungary have not reached the Danube yet and when they will, on Friday evening, they will not be dangerous. “It is not true. I have spoken with the head of Hungarian Waters last night, who said the authorities there have built a dam to stop the toxic residues from spreading. The residues have not reached the Danube and when they will, they will not be dangerous,” said Borbely for a Romanian TV station.

With coal, gas, nuclear and large hydropower plants largely under state control, investors have found it hard to tap the European Union (EU) member state's energy market as successive governments have stalled reforms, privatizations and public-private partnerships, wrote newswire Reuters in a recent analysis about the Romanian wind projects market.

Romania plans to support young investors who will start a business by offering them state guarantees, as well as exemptions from social security payment and a state aid of 20 percent of the value of their projects, up to EUR 10,000. The Romanian Government has put up for public debate the ordinance project and plans to enact it later on.

Movies on screens in Bucharest during the period October 8-14 2010

Romania needs to regain the trust of foreign investors and avoid a third year of economic crisis in the country, said Mariana Gheorghe, Petrom CEO and head of the Foreign Investors Council (FIC) in Romania. The council has launched a 80-measure plan to send Romania back on the economic revival path. The council estimates such measures could allow the country grow its Gross Domestic Product (GDP) by 11.6 percent, should these measures be applied by 2015.

The recent toxic spill in Hungary, which threatens to spread along the Danube river and endanger ecosystems, has triggered worries about Romania's own sledge beds, some of which have yet to be properly taken care of after the end of industrial activities in certain areas of the country. There are 17 such toxic residues deposits in Romania, according to local newspaper Ziarul Financiar, the biggest of these sludge bed being owned by Minvest Deva, with 290 hectares in total in Hunedoara, Harghita, Alba and Cluj.

Dutch confectionery ingredients producer Zeelandia has recently opened a factory in Iasi, the first phase of a EUR 10 million larger project. The company has so far invested EUR 3 million in this project. It bought a 22,000 sqm land in Miroslava, near Iasi, in 2006. The factory covers 2,000 sqm and new production warehouses will be added, as well as an administrative building, in the later phases of the project.

Multinational companies are interested in relocating their production activity from Romania to the Republic of Moldova to take advantage of the lower workforce and operations costs, according to the Moldavian Economy Minister Valeriu Lazar.

Romania’s economy will shrink at the fastest pace among emerging states in Europe this year, while its estimated growth of 1.5 percent for 2011 will be the smallest in the region, the International Monetary Fund said in its latest global outlook report. The IMF forecasts Romania's gross domestic product will decrease 1.9 percent in 2010, from a steep contraction of 7.1 percent a year earlier.

Futureal and Immofinanz will open the EUR 100 million Gold Plaza shopping center in Baia Mare on November 4, after previously setting the opening date for September this year. The developers had been planning to finalize the shopping center in 2008, but the project was delayed for 2009 and finally for 2010. The shopping mall has been 80 percent financed through a loan from MKB Bank.

UPDATE: Romanian Environment Minister Laszlo Borbely said the toxic residues from Hungary have not reached the Danube yet and when they will, on Friday evening, they will not be dangerous. “It is not true. I have spoken with the head of Hungarian Waters last night, who said the authorities there have built a dam to stop the toxic residues from spreading. The residues have not reached the Danube and when they will, they will not be dangerous,” said Borbely for a Romanian TV station.

With coal, gas, nuclear and large hydropower plants largely under state control, investors have found it hard to tap the European Union (EU) member state's energy market as successive governments have stalled reforms, privatizations and public-private partnerships, wrote newswire Reuters in a recent analysis about the Romanian wind projects market.

Romania plans to support young investors who will start a business by offering them state guarantees, as well as exemptions from social security payment and a state aid of 20 percent of the value of their projects, up to EUR 10,000. The Romanian Government has put up for public debate the ordinance project and plans to enact it later on.

Movies on screens in Bucharest during the period October 8-14 2010

Romania needs to regain the trust of foreign investors and avoid a third year of economic crisis in the country, said Mariana Gheorghe, Petrom CEO and head of the Foreign Investors Council (FIC) in Romania. The council has launched a 80-measure plan to send Romania back on the economic revival path. The council estimates such measures could allow the country grow its Gross Domestic Product (GDP) by 11.6 percent, should these measures be applied by 2015.

The recent toxic spill in Hungary, which threatens to spread along the Danube river and endanger ecosystems, has triggered worries about Romania's own sledge beds, some of which have yet to be properly taken care of after the end of industrial activities in certain areas of the country. There are 17 such toxic residues deposits in Romania, according to local newspaper Ziarul Financiar, the biggest of these sludge bed being owned by Minvest Deva, with 290 hectares in total in Hunedoara, Harghita, Alba and Cluj.

Dutch confectionery ingredients producer Zeelandia has recently opened a factory in Iasi, the first phase of a EUR 10 million larger project. The company has so far invested EUR 3 million in this project. It bought a 22,000 sqm land in Miroslava, near Iasi, in 2006. The factory covers 2,000 sqm and new production warehouses will be added, as well as an administrative building, in the later phases of the project.