Intesa Sanpaolo Bank has increased its share capital in Romania by EUR 30 million, which has upped its social capital by 50 percent to EUR 87.4 million. Intesa sanpaolo SpA owns 99.5 percent of the shares of the local bank subsidiary.

Intesa Sanpaolo Bank had EUR 800 million in assets at the end of the first quarter this year, up 6.5 percent on December last year. It portfolio of deposits went up by 6.1 percent, to EUR 268 million.

The tax revenues collected to the Romanian state budget are among the lowest in the European Union when compared to the local GDP. The ration of these revenues was of 28 percent out of GDP in 2008, while the EU average where close to 40 percent, according to Eurostat. Romania's tax rates are not among the lowest in the region, but its collection lags behind other EU states.

The Romanian central bank (BNR) is likely to keep the key interest rate unchanged at 6.25 percent after its board meeting this Wednesday, according to analysts quoted by Mediafax newswire.

The Central bank has been slashing the rate in its previous board meetings, but it will not continue to do so due to the recently announced hike in the Value Added Tax (VAT) rate to 24 percent.

The key interest rate was of 8 percent at the beginning of the year, when BNR continued to cut the interest rate, after slashing 2.25 percentage points last year.

The recently-announced five percentage points VAT increase in Romania will lead to a hike in prices on all levels of the economy and to a drop in the Romanians' purchasing power. A higher inflation and unemployment rate will kick in, analysts have warned. The 24 percent VAT rate in Romania will be among the highest in the European Union and the highest so far in the country. The previous VAT increase in Romania, in 1998, was also of four percentage points, to 22 percent. The lower VAT rate of 19 percent was enforced in 2000 and stayed the same ever since.

The recently-announced five percentage points VAT increase in Romania will lead to a hike in prices on all levels of the economy and to a drop in the Romanians' purchasing power. A higher inflation and unemployment rate will kick in, analysts have warned. The 24 percent VAT rate in Romania will be among the highest in the European Union and the highest so far in the country. The previous VAT increase in Romania, in 1998, was also of four percentage points, to 22 percent. The lower VAT rate of 19 percent was enforced in 2000 and stayed the same ever since.

The Romanian Government has decided to increase the Value Added Tax (VAT) from the current 19 percent to 24 percent, after a Government meeting held earlier today. The decision came after the Romanian Constitutional Court has ruled the 15 percent pensions decrease as unconstitutional. The measures should trigger an increase in the budget, after the failed attempt to cut budget spending

The Romanian Government has decided to increase the Value Added Tax (VAT) from the current 19 percent to 24 percent, after a Government meeting held earlier today. The decision came after the Romanian Constitutional Court has ruled the 15 percent pensions decrease as unconstitutional. The measures should trigger an increase in the budget, after the failed attempt to cut budget spending

If you want to discover a bit of the real Romania, get away from the dusty capital city and get to know some of the country's natural beauties while diving into spirituality and history, then the painted monasteries in Moldova are a great choice. Read about Voronet, Moldovita, Sucevita, Putna, Humor and Arbore monasteries in Bucovina.

The EUR/RON exchange rate surged by 1,17 percent today, to a rate of 4.2808 RON/EUR, while the USD was quoted at 3.4911 RON, 1.38 percent higher than the previous day, after the Romanian Constitutional Court ruled that the 15 percent pensions cuts announced by the Government are not constitutional.

First timers to the Romanian capital city should know that there are certain areas in Bucharest more likely to cater to...

Intesa Sanpaolo Bank has increased its share capital in Romania by EUR 30 million, which has upped its social capital by 50 percent to EUR 87.4 million. Intesa sanpaolo SpA owns 99.5 percent of the shares of the local bank subsidiary.

Intesa Sanpaolo Bank had EUR 800 million in assets at the end of the first quarter this year, up 6.5 percent on December last year. It portfolio of deposits went up by 6.1 percent, to EUR 268 million.

The tax revenues collected to the Romanian state budget are among the lowest in the European Union when compared to the local GDP. The ration of these revenues was of 28 percent out of GDP in 2008, while the EU average where close to 40 percent, according to Eurostat. Romania's tax rates are not among the lowest in the region, but its collection lags behind other EU states.

The Romanian central bank (BNR) is likely to keep the key interest rate unchanged at 6.25 percent after its board meeting this Wednesday, according to analysts quoted by Mediafax newswire.

The Central bank has been slashing the rate in its previous board meetings, but it will not continue to do so due to the recently announced hike in the Value Added Tax (VAT) rate to 24 percent.

The key interest rate was of 8 percent at the beginning of the year, when BNR continued to cut the interest rate, after slashing 2.25 percentage points last year.

The recently-announced five percentage points VAT increase in Romania will lead to a hike in prices on all levels of the economy and to a drop in the Romanians' purchasing power. A higher inflation and unemployment rate will kick in, analysts have warned. The 24 percent VAT rate in Romania will be among the highest in the European Union and the highest so far in the country. The previous VAT increase in Romania, in 1998, was also of four percentage points, to 22 percent. The lower VAT rate of 19 percent was enforced in 2000 and stayed the same ever since.

The recently-announced five percentage points VAT increase in Romania will lead to a hike in prices on all levels of the economy and to a drop in the Romanians' purchasing power. A higher inflation and unemployment rate will kick in, analysts have warned. The 24 percent VAT rate in Romania will be among the highest in the European Union and the highest so far in the country. The previous VAT increase in Romania, in 1998, was also of four percentage points, to 22 percent. The lower VAT rate of 19 percent was enforced in 2000 and stayed the same ever since.

The Romanian Government has decided to increase the Value Added Tax (VAT) from the current 19 percent to 24 percent, after a Government meeting held earlier today. The decision came after the Romanian Constitutional Court has ruled the 15 percent pensions decrease as unconstitutional. The measures should trigger an increase in the budget, after the failed attempt to cut budget spending

The Romanian Government has decided to increase the Value Added Tax (VAT) from the current 19 percent to 24 percent, after a Government meeting held earlier today. The decision came after the Romanian Constitutional Court has ruled the 15 percent pensions decrease as unconstitutional. The measures should trigger an increase in the budget, after the failed attempt to cut budget spending

If you want to discover a bit of the real Romania, get away from the dusty capital city and get to know some of the country's natural beauties while diving into spirituality and history, then the painted monasteries in Moldova are a great choice. Read about Voronet, Moldovita, Sucevita, Putna, Humor and Arbore monasteries in Bucovina.

The EUR/RON exchange rate surged by 1,17 percent today, to a rate of 4.2808 RON/EUR, while the USD was quoted at 3.4911 RON, 1.38 percent higher than the previous day, after the Romanian Constitutional Court ruled that the 15 percent pensions cuts announced by the Government are not constitutional.

First timers to the Romanian capital city should know that there are certain areas in Bucharest more likely to cater to...