Kraft Foods has sold Romanian soft cake and sugar confectionery business Cadbury's Kandia-Excelent to Oryxa Capital, an international investment fund, for an undisclosed sum. The sale includes Kandia-Excelent brands, such as Rom, Magura, Kandia, Laura, Sugus and Silvana, related trademarks and the manufacturing facility in Bucharest.

Romanian media: Morgan Stanley needs 10 years to exit Romcab - in Ziarul Financiar, Economic prospects worsen again: 3% decline in 2010 - in Ziarul Financiar, Dragne leaves Muşat law firm and takes several lawyers with him - in Ziarul Financiar, Year of tragedies: Romania struggles to keep afloat after six months of frost and floods - in Ziarul Financiar

Over 200 million euros worth of wind energy projects set to become operational - in Ziarul Financiar

Romania stayed within the budget deficit target agreed with the International Monetary Fund for the first quarter of the year, according to Bogdan Dragoi, state secretary within the Finance Ministry.

The country's budget dropped by 1.6 percent in the first five months of the year, to approximately EUR 14.7 billion.

The first nine foreign banks in Romania will meet the International Monetary Fund (IMF), the Romanian Central Bank (BNR) and the European Commission on July 22nd in Brussels to evaluate the agreement they have signed last year in Vienna, according to Mediafax newswire.

The unemployment rate in Romania reached 8.1 percent in the first quarter of the year, according to data from the National Institute of Statistics (INS), up from 7.5 percent the previous quarter.

This is the unemployment rate based on the International Employment Office standards.

Romanian media

Ziarul Financiar:

Isărescu: Inflation to stop at 8%, hopefully exchange rate will help

After cars...

Several oil companies and consortia have won oil concessions in Romania following a bid organized by the state. Two consortia and a company have won three oil resources concessions in the Black Sea, the National Mineral Resources Agency has announced.

An International Monetary Fund (IMF) team will come to Bucharest on July 26 for the fifth revision of the stand-by agreement with Romania. The mission, which is expected to end on August 4, will evaluate Romania's economy and discuss the economic objectives with the Romanian authorities.

Foreign investors bought more stocks on the Romanian stock market compared to the stocks they sold in the first five months of the year. The acquisition volume has reached EUR 167.9 million, according to the National Securities Commission (CNVM), while their sales reached EUR 148 million.

Around 67 percent of Romanians could cope for only three months with a 25 percent drop in salaries, according to a study released by the Institute of the Quality of Life. More than half of the Romanian population has issues in dealing with day to day needs (65 percent), while 61 percent live from one pay check to the other.

Kraft Foods has sold Romanian soft cake and sugar confectionery business Cadbury's Kandia-Excelent to Oryxa Capital, an international investment fund, for an undisclosed sum. The sale includes Kandia-Excelent brands, such as Rom, Magura, Kandia, Laura, Sugus and Silvana, related trademarks and the manufacturing facility in Bucharest.

Romanian media: Morgan Stanley needs 10 years to exit Romcab - in Ziarul Financiar, Economic prospects worsen again: 3% decline in 2010 - in Ziarul Financiar, Dragne leaves Muşat law firm and takes several lawyers with him - in Ziarul Financiar, Year of tragedies: Romania struggles to keep afloat after six months of frost and floods - in Ziarul Financiar

Over 200 million euros worth of wind energy projects set to become operational - in Ziarul Financiar

Romania stayed within the budget deficit target agreed with the International Monetary Fund for the first quarter of the year, according to Bogdan Dragoi, state secretary within the Finance Ministry.

The country's budget dropped by 1.6 percent in the first five months of the year, to approximately EUR 14.7 billion.

The first nine foreign banks in Romania will meet the International Monetary Fund (IMF), the Romanian Central Bank (BNR) and the European Commission on July 22nd in Brussels to evaluate the agreement they have signed last year in Vienna, according to Mediafax newswire.

The unemployment rate in Romania reached 8.1 percent in the first quarter of the year, according to data from the National Institute of Statistics (INS), up from 7.5 percent the previous quarter.

This is the unemployment rate based on the International Employment Office standards.

Romanian media

Ziarul Financiar:

Isărescu: Inflation to stop at 8%, hopefully exchange rate will help

After cars...

Several oil companies and consortia have won oil concessions in Romania following a bid organized by the state. Two consortia and a company have won three oil resources concessions in the Black Sea, the National Mineral Resources Agency has announced.

An International Monetary Fund (IMF) team will come to Bucharest on July 26 for the fifth revision of the stand-by agreement with Romania. The mission, which is expected to end on August 4, will evaluate Romania's economy and discuss the economic objectives with the Romanian authorities.

Foreign investors bought more stocks on the Romanian stock market compared to the stocks they sold in the first five months of the year. The acquisition volume has reached EUR 167.9 million, according to the National Securities Commission (CNVM), while their sales reached EUR 148 million.

Around 67 percent of Romanians could cope for only three months with a 25 percent drop in salaries, according to a study released by the Institute of the Quality of Life. More than half of the Romanian population has issues in dealing with day to day needs (65 percent), while 61 percent live from one pay check to the other.