The World Bank will discuss on its January 20 Management Council meeting whether to grant Romania a second development policies loan, worth some EUR 300 million.

Romania has pledged to make changes to the Emergency Ordinance 50/2010 in order to receive the sixth tranche of the loan from the International Monetary Fund (IMF), although local authorities have denied it in the past.

The Bucharest Court has decided to suspend the creation of Romania's power champion company Electra, based on a request made by Fondul Proprietatea through manager Franklin Templeton. The energy company Electra should have been created based on a decision by the shareholders of Nuclearelectrica, but the court has suspended the decision.

Private healthcare services operator Centrul Medical Unirea (CMU) has taken three loans from Raiffeisen Bank totaling EUR 18.32 million, to expand its network with a hospital and three clinics. Some of the amount will also be used to new equipments and for hiring medical staff.

Telecom company Romtelecom will sack up to 1,400 people this year, part of its previously started cost reduction program. “Our long term concern is to have a viable, strong and active company. These projects involve not only a drop in the number of employees. However, many of the projects we consider include a staff reduction, considering that our aim is to do more with fewer resources,” said Yorgos Ioannidis, general manager of Romtelecom.

Romania's final electricity consumption was up 3.9 percent in the first 11 months of last year on the same period of the previous year, while the country exported less energy, according to the country's National Statistics Institute.

The price of gas went up by 30 percent in Romania last year, according to the National Union of Transporters in the country. The price of gas in Romania, without taxes, is higher than in other European countries without own resources and without maritime access. Taxes- excises and VAT- make up for around 45 percent of the price of gas in Romania.

Real estate investment in Central and Eastern Europe reached EUR 5 billion last year, up 90 percent on 2009, with Romania drawing in 7 percent of the total, according to property consultants CB Richard Ellis.

Insurer BCR Asigurari Vienna Insurance Group (VIG) posted a volume of gross subscribed premiums last year similarly to the previous year and hopes for a slight increase for 2011.

Romanian lender Banca Transilvania has bought a new core-banking system from Oracle, Oracle Flexcube, the bank has announced. The total investment in acquiring and implementing the new platform could reach EUR 15 million.

The World Bank will discuss on its January 20 Management Council meeting whether to grant Romania a second development policies loan, worth some EUR 300 million.

Romania has pledged to make changes to the Emergency Ordinance 50/2010 in order to receive the sixth tranche of the loan from the International Monetary Fund (IMF), although local authorities have denied it in the past.

The Bucharest Court has decided to suspend the creation of Romania's power champion company Electra, based on a request made by Fondul Proprietatea through manager Franklin Templeton. The energy company Electra should have been created based on a decision by the shareholders of Nuclearelectrica, but the court has suspended the decision.

Private healthcare services operator Centrul Medical Unirea (CMU) has taken three loans from Raiffeisen Bank totaling EUR 18.32 million, to expand its network with a hospital and three clinics. Some of the amount will also be used to new equipments and for hiring medical staff.

Telecom company Romtelecom will sack up to 1,400 people this year, part of its previously started cost reduction program. “Our long term concern is to have a viable, strong and active company. These projects involve not only a drop in the number of employees. However, many of the projects we consider include a staff reduction, considering that our aim is to do more with fewer resources,” said Yorgos Ioannidis, general manager of Romtelecom.

Romania's final electricity consumption was up 3.9 percent in the first 11 months of last year on the same period of the previous year, while the country exported less energy, according to the country's National Statistics Institute.

The price of gas went up by 30 percent in Romania last year, according to the National Union of Transporters in the country. The price of gas in Romania, without taxes, is higher than in other European countries without own resources and without maritime access. Taxes- excises and VAT- make up for around 45 percent of the price of gas in Romania.

Real estate investment in Central and Eastern Europe reached EUR 5 billion last year, up 90 percent on 2009, with Romania drawing in 7 percent of the total, according to property consultants CB Richard Ellis.

Insurer BCR Asigurari Vienna Insurance Group (VIG) posted a volume of gross subscribed premiums last year similarly to the previous year and hopes for a slight increase for 2011.

Romanian lender Banca Transilvania has bought a new core-banking system from Oracle, Oracle Flexcube, the bank has announced. The total investment in acquiring and implementing the new platform could reach EUR 15 million.