After a good first quarter which brought profits for banks in Romania, the local banking system posted a loss of around EUR 49 million after the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million.

The disposable income in Romania will drop by around 10 percent this year and by a further 0.8 percentage points in 2011...

A recent comment run on a Financial Times blog depicts the Romanian Government as “at best dysfunctional and at worst incompetent”, while Romanian president Traian Basescu is described as “the country’s bull-in-a-chinashop president”.

Insurer Groupama Asigurari said it will pay around EUR 461,000 in damages following the flooding in Romania. “The...

Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

The group of companies which includes airline company Blue Air will open the first restaurant under the Self brand on...

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea...

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

After a good first quarter which brought profits for banks in Romania, the local banking system posted a loss of around EUR 49 million after the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million.

The disposable income in Romania will drop by around 10 percent this year and by a further 0.8 percentage points in 2011...

A recent comment run on a Financial Times blog depicts the Romanian Government as “at best dysfunctional and at worst incompetent”, while Romanian president Traian Basescu is described as “the country’s bull-in-a-chinashop president”.

Insurer Groupama Asigurari said it will pay around EUR 461,000 in damages following the flooding in Romania. “The...

Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

The group of companies which includes airline company Blue Air will open the first restaurant under the Self brand on...

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea...

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop