Spanish law firm Garrigues will close down its office in Bucharest, after having changed the business strategy for the Central and Eastern Europe. The law firm will work in the region through its office in Warsaw, according to the law firm.

*Four mall in Bucharest worth over EUR 1 billion. Will they find buyers? - in Ziarul Financiar
*2011 budget proposes drastic drop in expenses, 2.2 percent of the GDP - in Ziarul Financiar
*Romania faced five financial crises in the last five years due to the lack of financial education - in Ziarul Financiar
*Banca Transilvania raised EUR 26 million from investors in the first share issuance since the beginning of crisis - in Ziarul Financiar

Calendar of events for the week November 29-december 2: conferences, exhibitions, workshops, press conferences.

Banca Transilvania shareholders have subscribed 93 percent of the bank's capital share increase, The bank has announced, The bank has increased its share capital by EUR 26.3 million.

Romania's external debt has reached EUR 90 billion, out of which the Romanian state has to pay EUR 18.5 billion, the Romanian Central Bank (BNR)- other EUR 9 billion, while EUR 17 billion stem from the population, according to BNR data.

The Romanian Government plans to sell its 46 percent stake in telecom operator Romtelecom and Greek OTE, the main shareholder in the telecom company, has been invited to submit an offer for the remaining share package. Another option for the sale would be listing the state's share package on the stock exchange.

A documentary about American fighter pilots and bombers who raided Romanian targets in the Second World War will be aired on December 1 on TVR 1, Romania's national television channel. The documentary, called "Knights of the Sky: Air War Over Romania" is produced by Romanian-born Dan Dimancescu and directed by Nicholas Dimancescu, the founder of Kogainon Films, in partnership with National Geographic magazine Romania.

The French Film Festival will take place in Bucharest from December 10 to December 16 in three cinema halls in the capital city, according to the French Institute. 30 movies will be included in the festival, which will be opened by "Donnant, donnant", with Daniel Auteuil and Romanian actor Medeea Marinescu.

Former Romanian envoy to Singapore Silviu Ionescu will be released Thursday evening from prison, after the Court of Bucharest accepted his request for his arrest to be replaced with a ban on leaving the country. On November 17, a lower court rejected his request, ruling that Ionescu's arrest is legal and justified.

*15% increase in salaries for state employees will cost state EUR 1.4 billion – in Ziarul Financiar
*Atenor Group builds office building in Pipera with its own funds – in Ziarul Financiar
*The high prices of gold puts pressure on jewelry trade – in Ziarul Financiar
*Developers finalized 3,000 new apartments in Titan, the Bucharest neighbourhoods with the biggest investments in residential – in Ziarul Financiar

Spanish law firm Garrigues will close down its office in Bucharest, after having changed the business strategy for the Central and Eastern Europe. The law firm will work in the region through its office in Warsaw, according to the law firm.

*Four mall in Bucharest worth over EUR 1 billion. Will they find buyers? - in Ziarul Financiar
*2011 budget proposes drastic drop in expenses, 2.2 percent of the GDP - in Ziarul Financiar
*Romania faced five financial crises in the last five years due to the lack of financial education - in Ziarul Financiar
*Banca Transilvania raised EUR 26 million from investors in the first share issuance since the beginning of crisis - in Ziarul Financiar

Calendar of events for the week November 29-december 2: conferences, exhibitions, workshops, press conferences.

Banca Transilvania shareholders have subscribed 93 percent of the bank's capital share increase, The bank has announced, The bank has increased its share capital by EUR 26.3 million.

Romania's external debt has reached EUR 90 billion, out of which the Romanian state has to pay EUR 18.5 billion, the Romanian Central Bank (BNR)- other EUR 9 billion, while EUR 17 billion stem from the population, according to BNR data.

The Romanian Government plans to sell its 46 percent stake in telecom operator Romtelecom and Greek OTE, the main shareholder in the telecom company, has been invited to submit an offer for the remaining share package. Another option for the sale would be listing the state's share package on the stock exchange.

A documentary about American fighter pilots and bombers who raided Romanian targets in the Second World War will be aired on December 1 on TVR 1, Romania's national television channel. The documentary, called "Knights of the Sky: Air War Over Romania" is produced by Romanian-born Dan Dimancescu and directed by Nicholas Dimancescu, the founder of Kogainon Films, in partnership with National Geographic magazine Romania.

The French Film Festival will take place in Bucharest from December 10 to December 16 in three cinema halls in the capital city, according to the French Institute. 30 movies will be included in the festival, which will be opened by "Donnant, donnant", with Daniel Auteuil and Romanian actor Medeea Marinescu.

Former Romanian envoy to Singapore Silviu Ionescu will be released Thursday evening from prison, after the Court of Bucharest accepted his request for his arrest to be replaced with a ban on leaving the country. On November 17, a lower court rejected his request, ruling that Ionescu's arrest is legal and justified.

*15% increase in salaries for state employees will cost state EUR 1.4 billion – in Ziarul Financiar
*Atenor Group builds office building in Pipera with its own funds – in Ziarul Financiar
*The high prices of gold puts pressure on jewelry trade – in Ziarul Financiar
*Developers finalized 3,000 new apartments in Titan, the Bucharest neighbourhoods with the biggest investments in residential – in Ziarul Financiar