Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

Romanian travel agency Eximtur posted a turnover of EUR 22 million in the first nine months of this year, down 2.65 percent on the same period of last year, according to the company. Eximtur posted a EUR 26.7 million turnover last year.

The Romanian economy is likely to grow by 1.6 percent in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4 percent next year, above the central bank’s upper band target of 4 percent, a PricewaterhouseCoopers (PwC) survey shows.

Fashion retailer New Yorker will open its 990 sqm store in Unirea Shopping Center in Bucharest on Friday, November 5. The store will be located between the Zara store and the current KFC location on the Calarasi boulevard side of the Unirea Shopping Center.

*Giant Intel will hire couple of hundred programmers in Romania – in Ziarul Financiar
*Inflation should stabilize at 2.5% from 2013 until euro adoption – in Ziarul Financiar
*Radacini Group will open ten stores under the Domino's Pizza franchise next year – in Ziarul Financiar
*Omer Tetik, number two in Credit Europe Bank, becomes president – in Ziarul Financiar
*How did the fast food generation eat EUR 2 million – in Gandul

The Bucharest court has approved the insolvency of the Armonia Braila shopping center owner Red Project Three, a company of the Red real estate development group. The shopping center was closed down in August 2009, after only several months from opening, due to unsatisfying results. At the time, the developer was announcing plans to reposition the project and turn into into a discount-oriented one. It was expected to re-open in 2011.

Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

Romanian travel agency Eximtur posted a turnover of EUR 22 million in the first nine months of this year, down 2.65 percent on the same period of last year, according to the company. Eximtur posted a EUR 26.7 million turnover last year.

The Romanian economy is likely to grow by 1.6 percent in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4 percent next year, above the central bank’s upper band target of 4 percent, a PricewaterhouseCoopers (PwC) survey shows.

Fashion retailer New Yorker will open its 990 sqm store in Unirea Shopping Center in Bucharest on Friday, November 5. The store will be located between the Zara store and the current KFC location on the Calarasi boulevard side of the Unirea Shopping Center.

*Giant Intel will hire couple of hundred programmers in Romania – in Ziarul Financiar
*Inflation should stabilize at 2.5% from 2013 until euro adoption – in Ziarul Financiar
*Radacini Group will open ten stores under the Domino's Pizza franchise next year – in Ziarul Financiar
*Omer Tetik, number two in Credit Europe Bank, becomes president – in Ziarul Financiar
*How did the fast food generation eat EUR 2 million – in Gandul

The Bucharest court has approved the insolvency of the Armonia Braila shopping center owner Red Project Three, a company of the Red real estate development group. The shopping center was closed down in August 2009, after only several months from opening, due to unsatisfying results. At the time, the developer was announcing plans to reposition the project and turn into into a discount-oriented one. It was expected to re-open in 2011.