The fact that Bucharest has more luxury cars that the country's development would support is a wonder for many foreigners who visit the city. In a city where parking spaces are scarce, there are 20,000 luxury cars, writes Romanian daily Gandul. There are 102 Ferrari cars registered in Bucharest, 160 Cadillacs and 100 Chrystlers.

Supermarket operator Mega Image has entered the convenience stores segment in Romania by opening Shop & Go units. The first such store was opened in Bucharest, on Delea Noua St., and covers 170 sqm, featuring mostly food products. Another such store will be opened on December 17 in Pantelimon, which will bring the number of Mega Image operated stores to 72 by the end of the year.

*Basescu about exit from the crisis: in the first quarter, half, the second half of 2011 – in Ziarul Financiar
*Foreign debt costs EUR 3 billion a month since the beginning of the year – in Ziarul Financiar
*Labor productivity increasing. How long will the trend last? – in Ziarul Financiar
*Taher signs sale of 12 hectares in Electroputere – in Ziarul Financiar

The European Commission has approved a EUR 80.6 million state aid scheme for the Romanian cinema production. The EC has OKed the Romanian state's scheme which consists in offering interest free loans and non-reimbursable loans for the production of Romanian movies

"The Concert", a movie by Romanian-born French film director and screenwriter Radu Mihaileanu is nominated for Best...

Romania's current account deficit widened by 30.3 percent to EUR 4.94 billion in the first ten months, from a gap of EUR 3.79 billion a year before, largely due to the lower current transfers surplus, according to data from the Romanian Central Bank (BNR).

Local firm Valco, which produces Romanian traditional alcoholic drinks, has exported 6,000 bottles of traditional Palinca to the US, a total worth of EUR 60,000. The company has signed contracts with distributions companies on the most important US markets New York, New Jersey, Illinois - Chicago, Michigan, Nevada - Las Vegas and California.

Romania has reached the bottom of the crisis, two years down the road, and the 2011 perspectives are positive, according to a recent UniCredit report, CEE Quarterly. The bank's analysts expect Romania's GDP to grow by 1.7 percent next year, after an expected 2.5 percent drop this year and a recorded drop of 7.1 percent in 2009

Real estate projects worth around EUR 500 million are expected to go bankrupt in 2011, according to Coldwell Banker Affiliates of Romania. The volume of projects which will end up bankrupt will thus double on this year's, according to Valentin Ilie, CEO Coldwell Banker Affiliates of Romania.

Romanian President Traian Basescu (in picture) said he will refuse to sign into law a bill renaming the country’s Roma minority internally as “gypsies”, the Financial Times reported online Monday. "I believe it's a big mistake, I'll never promulgate such a law. I'll send the law back," Basescu told the Financial Times in an interview. He added that the bill would be a "gesture of rejection".

The fact that Bucharest has more luxury cars that the country's development would support is a wonder for many foreigners who visit the city. In a city where parking spaces are scarce, there are 20,000 luxury cars, writes Romanian daily Gandul. There are 102 Ferrari cars registered in Bucharest, 160 Cadillacs and 100 Chrystlers.

Supermarket operator Mega Image has entered the convenience stores segment in Romania by opening Shop & Go units. The first such store was opened in Bucharest, on Delea Noua St., and covers 170 sqm, featuring mostly food products. Another such store will be opened on December 17 in Pantelimon, which will bring the number of Mega Image operated stores to 72 by the end of the year.

*Basescu about exit from the crisis: in the first quarter, half, the second half of 2011 – in Ziarul Financiar
*Foreign debt costs EUR 3 billion a month since the beginning of the year – in Ziarul Financiar
*Labor productivity increasing. How long will the trend last? – in Ziarul Financiar
*Taher signs sale of 12 hectares in Electroputere – in Ziarul Financiar

The European Commission has approved a EUR 80.6 million state aid scheme for the Romanian cinema production. The EC has OKed the Romanian state's scheme which consists in offering interest free loans and non-reimbursable loans for the production of Romanian movies

"The Concert", a movie by Romanian-born French film director and screenwriter Radu Mihaileanu is nominated for Best...

Romania's current account deficit widened by 30.3 percent to EUR 4.94 billion in the first ten months, from a gap of EUR 3.79 billion a year before, largely due to the lower current transfers surplus, according to data from the Romanian Central Bank (BNR).

Local firm Valco, which produces Romanian traditional alcoholic drinks, has exported 6,000 bottles of traditional Palinca to the US, a total worth of EUR 60,000. The company has signed contracts with distributions companies on the most important US markets New York, New Jersey, Illinois - Chicago, Michigan, Nevada - Las Vegas and California.

Romania has reached the bottom of the crisis, two years down the road, and the 2011 perspectives are positive, according to a recent UniCredit report, CEE Quarterly. The bank's analysts expect Romania's GDP to grow by 1.7 percent next year, after an expected 2.5 percent drop this year and a recorded drop of 7.1 percent in 2009

Real estate projects worth around EUR 500 million are expected to go bankrupt in 2011, according to Coldwell Banker Affiliates of Romania. The volume of projects which will end up bankrupt will thus double on this year's, according to Valentin Ilie, CEO Coldwell Banker Affiliates of Romania.

Romanian President Traian Basescu (in picture) said he will refuse to sign into law a bill renaming the country’s Roma minority internally as “gypsies”, the Financial Times reported online Monday. "I believe it's a big mistake, I'll never promulgate such a law. I'll send the law back," Basescu told the Financial Times in an interview. He added that the bill would be a "gesture of rejection".