Romanian state-owned airline Tarom wants to break even in 2011, after its 2010 budget provided for a EUR 4.6 million, according to a draft government decision by the Ministry of Transport. In 2009, Tarom projected around a EUR 176,000 profit, but the net result was actually around a EUR 21 million loss.

Artmark auction house recorded auction art sales of EUR 5.5 million last year, which makes up for 68 percent of the local art sales, according to data from the company. The company posted EUR 1.8 million in auction sales in 2009, which made 48 percent of the market.

Fondul Proprietatea (FP) might seek stock exchange listings in London, Warsaw, Vienna or Hong Kong, Mark Mobius, executive chairman of PF manager Franklin Templeton Emerging Markets said on Tuesday, the first day of trading for the fund's shares on the Bucharest Stock Exchange.

The first transactions with the Fondul Proprietatea shares were held at a price of RON 0.602 per share this morning, when the fund was listed on the Bucharest Stock Exchange (BSE). The fund was listed directly, without an Initial Public Offering (IPO). More about the evolution of the fund's shares here.

The European Bank for Reconstruction and Development Monday revised upward its forecast for Romanian economic growth to 1.1 percent in 2011, from 0.9 percent previously, citing slightly improvements over recent months.

Coldwell Banker Affiliates of Romania has become the interim manager of City Mall shopping center in Bucharest. The shopping center, currently in the insolvency procedures, will be out for sale starting March this year. Coldwell Banker will also be a consultant in the sale process, led by Casa de Insolventa Transilvania, the shopping mall's judiciary administrator.

Borsec resort in the Romanian county of Harghita will feature a EUR 4.7 million spa center which will be financed from the state budget, according to data from the Borsec city hall.

International Automotive Components (IAC) Group will invest EUR 58 million in a new greenfield manufacturing facility in Bals, Romania, in the southwest Oltenia region. The facility will produce instrument panels, door panels, headliners and various other interior trim components to support Ford Motor Company's production of two new passenger cars at its plant in Craiova, Romania.

The Romanian telecom market should see a comeback in the second half of this year, after the economic environment will stabilize in the first part of the year, according to Dinu Malacopol, CEO of Digital Cable Systems. The company plans to invest EUR 10 million this year in consolidating its network and in new acquisitions, Malacopol has said.

Higher fuel prices will have two main effects on Romanian drivers, who are expected to use their cars less and get cars that are more fuel-efficient, Brent Valmar, vice-president of the Romanian carmakers and importers association (APIA), said Monday.

Romanian state-owned airline Tarom wants to break even in 2011, after its 2010 budget provided for a EUR 4.6 million, according to a draft government decision by the Ministry of Transport. In 2009, Tarom projected around a EUR 176,000 profit, but the net result was actually around a EUR 21 million loss.

Artmark auction house recorded auction art sales of EUR 5.5 million last year, which makes up for 68 percent of the local art sales, according to data from the company. The company posted EUR 1.8 million in auction sales in 2009, which made 48 percent of the market.

Fondul Proprietatea (FP) might seek stock exchange listings in London, Warsaw, Vienna or Hong Kong, Mark Mobius, executive chairman of PF manager Franklin Templeton Emerging Markets said on Tuesday, the first day of trading for the fund's shares on the Bucharest Stock Exchange.

The first transactions with the Fondul Proprietatea shares were held at a price of RON 0.602 per share this morning, when the fund was listed on the Bucharest Stock Exchange (BSE). The fund was listed directly, without an Initial Public Offering (IPO). More about the evolution of the fund's shares here.

The European Bank for Reconstruction and Development Monday revised upward its forecast for Romanian economic growth to 1.1 percent in 2011, from 0.9 percent previously, citing slightly improvements over recent months.

Coldwell Banker Affiliates of Romania has become the interim manager of City Mall shopping center in Bucharest. The shopping center, currently in the insolvency procedures, will be out for sale starting March this year. Coldwell Banker will also be a consultant in the sale process, led by Casa de Insolventa Transilvania, the shopping mall's judiciary administrator.

Borsec resort in the Romanian county of Harghita will feature a EUR 4.7 million spa center which will be financed from the state budget, according to data from the Borsec city hall.

International Automotive Components (IAC) Group will invest EUR 58 million in a new greenfield manufacturing facility in Bals, Romania, in the southwest Oltenia region. The facility will produce instrument panels, door panels, headliners and various other interior trim components to support Ford Motor Company's production of two new passenger cars at its plant in Craiova, Romania.

The Romanian telecom market should see a comeback in the second half of this year, after the economic environment will stabilize in the first part of the year, according to Dinu Malacopol, CEO of Digital Cable Systems. The company plans to invest EUR 10 million this year in consolidating its network and in new acquisitions, Malacopol has said.

Higher fuel prices will have two main effects on Romanian drivers, who are expected to use their cars less and get cars that are more fuel-efficient, Brent Valmar, vice-president of the Romanian carmakers and importers association (APIA), said Monday.