Ursus Breweries will close down one of its oldest production centers in Romania, the 130-year old Cluj – Napoca factory, which employs 161 people, the company has announced. The factory had the highest operating cost of all Ursus' production units in Romania and was located downtown, which made it harder to run logistically wise.

Hewlett Packard (HP) Romania plans to hire 600 people in 2011 for its Bucharest-based services center Global eBusiness Operations (GeBOC), which is similar to the number of people the company hired in 2010, GeBOC general manager Alexander Weigl has said.

German drug producer Boehringer Ingelheim expects the Romanian subsidiary to grow its sales by 14.6 percent this year, to around EUR 23.3 million, according to the company's general manager in Romania, Franz Zinsberger.

Romania and the International Monetary Fund have agreed on a budget deficit target of 1.3 billion for the first quarter of next year, one third lower compared to the same period of 2010.

Valvis Holding, a company owned by serial investor Jean Valvis, has invested EUR 12.5 million in technologies for the new mineral water brand Aqua Carpatica and expects it to reach a market share of 10 percent in the next two years

The value of payments using foreign-issued cards to Romanian traders climbed to a record EUR 94 million, 25 percent above the previous quarter's level.

*How did entrepreneur Ioan Ciolan restructure the Ambient business, from EUR 20 mln loss – in Ziarul Financiar
*Airports with under a million passenger traffic a year need EUR 150 million to develop – in Ziarul Financiar
*Large stock market players invest millions of lei in Fondul Proprietatea – in Ziarul Financiar
*The Government sets up the Fiscal Police – in Ziarul Financiar

Romania's Finance Ministry will launch the first bond issue of its planned EUR 7 billion medium term notes (MTNs) program at the end of 2010 or early 2011, according to the government’s letter of intent that will be sent to the International Monetary Fund.

Despite the crisis, Romanians started to travel by plane more often while travelers from other countries in the EU reduced the frequency of their flights. Still, Romanian travelers are below the EU level when it comes to the frequency of their flights. In Romania, in 2009, the number of flights per inhabitant was approximately 15 percent higher than in 2007, according to AT Kearney.

Romanian export-oriented manufacturing industries will continue to grow in 2011, further supporting economic recovery, whereas sectors such as retail and constructions will be negatively impacted by low consumer confidence, according to consultancy firm Roland Berger.

Ursus Breweries will close down one of its oldest production centers in Romania, the 130-year old Cluj – Napoca factory, which employs 161 people, the company has announced. The factory had the highest operating cost of all Ursus' production units in Romania and was located downtown, which made it harder to run logistically wise.

Hewlett Packard (HP) Romania plans to hire 600 people in 2011 for its Bucharest-based services center Global eBusiness Operations (GeBOC), which is similar to the number of people the company hired in 2010, GeBOC general manager Alexander Weigl has said.

German drug producer Boehringer Ingelheim expects the Romanian subsidiary to grow its sales by 14.6 percent this year, to around EUR 23.3 million, according to the company's general manager in Romania, Franz Zinsberger.

Romania and the International Monetary Fund have agreed on a budget deficit target of 1.3 billion for the first quarter of next year, one third lower compared to the same period of 2010.

Valvis Holding, a company owned by serial investor Jean Valvis, has invested EUR 12.5 million in technologies for the new mineral water brand Aqua Carpatica and expects it to reach a market share of 10 percent in the next two years

The value of payments using foreign-issued cards to Romanian traders climbed to a record EUR 94 million, 25 percent above the previous quarter's level.

*How did entrepreneur Ioan Ciolan restructure the Ambient business, from EUR 20 mln loss – in Ziarul Financiar
*Airports with under a million passenger traffic a year need EUR 150 million to develop – in Ziarul Financiar
*Large stock market players invest millions of lei in Fondul Proprietatea – in Ziarul Financiar
*The Government sets up the Fiscal Police – in Ziarul Financiar

Romania's Finance Ministry will launch the first bond issue of its planned EUR 7 billion medium term notes (MTNs) program at the end of 2010 or early 2011, according to the government’s letter of intent that will be sent to the International Monetary Fund.

Despite the crisis, Romanians started to travel by plane more often while travelers from other countries in the EU reduced the frequency of their flights. Still, Romanian travelers are below the EU level when it comes to the frequency of their flights. In Romania, in 2009, the number of flights per inhabitant was approximately 15 percent higher than in 2007, according to AT Kearney.

Romanian export-oriented manufacturing industries will continue to grow in 2011, further supporting economic recovery, whereas sectors such as retail and constructions will be negatively impacted by low consumer confidence, according to consultancy firm Roland Berger.