The Romanian gross domestic product (GDP) shrank 1.2 percent in 2010 from 2009, according to the National Institute of Statistics. According to the early estimations, the fourth-quarter GDP was by 0.1 percent higher than in Q3 of 2010 in real terms (seasonally adjusted data).

The Romanian Competition Council has fined telecom companies Orange and Vodafone Romania with EUR 63 million for abusing their dominant position on the market, following an investigation which started in 2006. The investigation was opened after the complaint from NetMaster, according to the Competition Council.

The Romanian Ministry of Economy has started the procedures to select the intermediary for the secondary public offer to sell 9.84 percent in oil and gas company OMV Petrom, the ministry has announced. The winner of this bid will be announced in March. The sale will happen on the Bucharest Stock Exchange.

Investors from Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Kuweit and Qatar are interested in placing their money in Romania in sectors like agriculture, infrastructure and the financial sector, with a budget of minimum USD 20 million per project, according to Forum Invest, which will organize a business forum in this topic in Bucharest.

Polyurethane foam and hotmelt producer Den Braven Romania registered total sales of EUR 39.5 million in 2010, an increase of 28 percent compared to the sales recorded in 2009.

BRD - Groupe Societe Generale posted a net profit of EUR 119 million last year, a drop of 36 percent on 2009, the bank has announced. The group's net profit, which also includes BRD Sogelease and BRD Finance, was 31 percent lower than in 2009.

Consumer prices in Romania grew by 0.77 percent on the month in January, while the annual inflation eased to 6.99percent , the country’s statistics institute INS said Monday. In December, the annual inflation peaked at 7.96 percent, mostly driven by a higher sales tax.

Romania’s state-owned railway company CFR SA will close 20 percent of the country's railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance, reads the letter of intent agreed upon by the Government and the International Monetary Fund.

Romania will allot EUR 15 million to hospitals this year for IT&C projects, according to Romanian Communications Minister Valerian Vreme.The Communications Ministry will spend as much as EUR 400,000 per hospital to outfit around 40 units, said Vreme.

The Romanian Communications Ministry will carry out a EUR 84 million project, funded by the European Union, to provide Internet access to the remaining unconnected areas in the country, according to minister Valerian Vreme.

The Romanian gross domestic product (GDP) shrank 1.2 percent in 2010 from 2009, according to the National Institute of Statistics. According to the early estimations, the fourth-quarter GDP was by 0.1 percent higher than in Q3 of 2010 in real terms (seasonally adjusted data).

The Romanian Competition Council has fined telecom companies Orange and Vodafone Romania with EUR 63 million for abusing their dominant position on the market, following an investigation which started in 2006. The investigation was opened after the complaint from NetMaster, according to the Competition Council.

The Romanian Ministry of Economy has started the procedures to select the intermediary for the secondary public offer to sell 9.84 percent in oil and gas company OMV Petrom, the ministry has announced. The winner of this bid will be announced in March. The sale will happen on the Bucharest Stock Exchange.

Investors from Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Kuweit and Qatar are interested in placing their money in Romania in sectors like agriculture, infrastructure and the financial sector, with a budget of minimum USD 20 million per project, according to Forum Invest, which will organize a business forum in this topic in Bucharest.

Polyurethane foam and hotmelt producer Den Braven Romania registered total sales of EUR 39.5 million in 2010, an increase of 28 percent compared to the sales recorded in 2009.

BRD - Groupe Societe Generale posted a net profit of EUR 119 million last year, a drop of 36 percent on 2009, the bank has announced. The group's net profit, which also includes BRD Sogelease and BRD Finance, was 31 percent lower than in 2009.

Consumer prices in Romania grew by 0.77 percent on the month in January, while the annual inflation eased to 6.99percent , the country’s statistics institute INS said Monday. In December, the annual inflation peaked at 7.96 percent, mostly driven by a higher sales tax.

Romania’s state-owned railway company CFR SA will close 20 percent of the country's railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance, reads the letter of intent agreed upon by the Government and the International Monetary Fund.

Romania will allot EUR 15 million to hospitals this year for IT&C projects, according to Romanian Communications Minister Valerian Vreme.The Communications Ministry will spend as much as EUR 400,000 per hospital to outfit around 40 units, said Vreme.

The Romanian Communications Ministry will carry out a EUR 84 million project, funded by the European Union, to provide Internet access to the remaining unconnected areas in the country, according to minister Valerian Vreme.