Romania's economy is expected to shrink two percent in 2010 and will increase between 1.5 and 2 percent in 2011, reads the additional letter of intent to the International Monetary Fund (IMF) approved by the Government. "The economic recovery will be delayed due to persisting low domestic demand, the unfavorable regional context and the recent floods," reads the document.

The Romanian Government has revised its estimate on primary spending to EUR 30.7 billion this year, from a previous EUR 30.5 billion, according to the additional letter of intent to the International Monetary Fund deal, quoted by Mediafax newswire.

Romania ranks 67th of the 137 countries included in the world competitiveness report issued by the World Economic Forum. The country is down three places compared to last year.

State-owned energy transport company Transelectrica will invest around EUR 250 million in the next five to six years in Dobrogea to build eight transformation power stations and the electrical lines which will connect wind farms to the national power grid, a total capacity of 4,000 MW.

Romania ranks fifth in Central Europe, with 33 companies among the first 500 in the region, according to a top recently published by Deloitte. The top, carried out by Deloitte in 18 countries every year, is now at its 4th edition and ranks companies by revenues from sales reported for the previous year.

Online retailer eMAG has opened a 300 sqm showroom in Constanta, the biggest in its chain outside Bucharest so far and expects the showroom to bring revenues of EUR 1 million this year and EUR 3.5 million next year, according to Iulian Stanciu, director of eMAG.ro. This is the company's second largest showroom, after the one in Bucharest.

RBS Romania will move its headquarters to a 8,700 sqm space in Lake View office building on Barbu Vacarescu boulevard at the beginning of November. The bank will occupy the ground floor of the building, where it will have a branch, as well as the first three floors of the office building, according to its representatives

*ButanGas invests EUR 44 million in wind projects – in Ziarul Financiar
*Hidroelectrica has a EUR 3 billion investment plan for 5-7 years – in Ziarul Financiar
*Owner of Zara brings construction company to Romania – in Ziarul Financiar
*Mobius about energy giants: If they do not generate added value, we're not interested in them – in Ziarul Financiar
*Romanian Brewers: Crisis and rain trigger 10% beer sales drop in H1 – in Ziarul Financiar

The Swiss franc – Romanian leu exchange rate reached a peak of RON 3.35 per franc on Wednesday, after the Swiss currency has continuously appreciated throughout the year. The Romanian currency depreciated by 18 percent against the Swiss franc compared to January this year.

The Romanian Senate has OKed the new law on consumer credit contracts, which removes the early repayment fee for loans with floating interest rate. The ordinance transposes a a European Directive in Romanian legislation.

Romania's economy is expected to shrink two percent in 2010 and will increase between 1.5 and 2 percent in 2011, reads the additional letter of intent to the International Monetary Fund (IMF) approved by the Government. "The economic recovery will be delayed due to persisting low domestic demand, the unfavorable regional context and the recent floods," reads the document.

The Romanian Government has revised its estimate on primary spending to EUR 30.7 billion this year, from a previous EUR 30.5 billion, according to the additional letter of intent to the International Monetary Fund deal, quoted by Mediafax newswire.

Romania ranks 67th of the 137 countries included in the world competitiveness report issued by the World Economic Forum. The country is down three places compared to last year.

State-owned energy transport company Transelectrica will invest around EUR 250 million in the next five to six years in Dobrogea to build eight transformation power stations and the electrical lines which will connect wind farms to the national power grid, a total capacity of 4,000 MW.

Romania ranks fifth in Central Europe, with 33 companies among the first 500 in the region, according to a top recently published by Deloitte. The top, carried out by Deloitte in 18 countries every year, is now at its 4th edition and ranks companies by revenues from sales reported for the previous year.

Online retailer eMAG has opened a 300 sqm showroom in Constanta, the biggest in its chain outside Bucharest so far and expects the showroom to bring revenues of EUR 1 million this year and EUR 3.5 million next year, according to Iulian Stanciu, director of eMAG.ro. This is the company's second largest showroom, after the one in Bucharest.

RBS Romania will move its headquarters to a 8,700 sqm space in Lake View office building on Barbu Vacarescu boulevard at the beginning of November. The bank will occupy the ground floor of the building, where it will have a branch, as well as the first three floors of the office building, according to its representatives

*ButanGas invests EUR 44 million in wind projects – in Ziarul Financiar
*Hidroelectrica has a EUR 3 billion investment plan for 5-7 years – in Ziarul Financiar
*Owner of Zara brings construction company to Romania – in Ziarul Financiar
*Mobius about energy giants: If they do not generate added value, we're not interested in them – in Ziarul Financiar
*Romanian Brewers: Crisis and rain trigger 10% beer sales drop in H1 – in Ziarul Financiar

The Swiss franc – Romanian leu exchange rate reached a peak of RON 3.35 per franc on Wednesday, after the Swiss currency has continuously appreciated throughout the year. The Romanian currency depreciated by 18 percent against the Swiss franc compared to January this year.

The Romanian Senate has OKed the new law on consumer credit contracts, which removes the early repayment fee for loans with floating interest rate. The ordinance transposes a a European Directive in Romanian legislation.