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.

Agreements worth EUR 10 billion, most of them on EU money, have been already signed for the infrastructure works, including speedways building due to be finished across Romania in 2011, Romanian Prime Minister Emil Boc has said.

Romania would last only two quarters with the money it currently holds, if it were to cancel the agreement with the International Monetary Fund and the European Commission on account of a political crisis, according to the Bank of America-Merrill Lynch analysts, quoted by The Money Channel.

The Romanian authorities’ plan to collect taxes on high wealth will target about 1-2 percent of contributors, Finance Minister Gheorghe Ialomitianu has said. He added that fiscal authority ANAF will set up several departments tasked with checking wealthy individuals.

The Romanian currency Leu's appreciation in 2011 could be supported by the stock exchange listing of Fondul Proprietatea and by a new cautionary agreement with the International Monetary Fund, according to an analysis by X-Trade Brokers. Last year, the Ley depreciated by 8 percent against the US Dollar, the second biggest depreciation after the Hungarian Forint. The Leu was quite stable against the Euro last year, with only a 1.02 percent depreciation.

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.

Agreements worth EUR 10 billion, most of them on EU money, have been already signed for the infrastructure works, including speedways building due to be finished across Romania in 2011, Romanian Prime Minister Emil Boc has said.

Romania would last only two quarters with the money it currently holds, if it were to cancel the agreement with the International Monetary Fund and the European Commission on account of a political crisis, according to the Bank of America-Merrill Lynch analysts, quoted by The Money Channel.

The Romanian authorities’ plan to collect taxes on high wealth will target about 1-2 percent of contributors, Finance Minister Gheorghe Ialomitianu has said. He added that fiscal authority ANAF will set up several departments tasked with checking wealthy individuals.

The Romanian currency Leu's appreciation in 2011 could be supported by the stock exchange listing of Fondul Proprietatea and by a new cautionary agreement with the International Monetary Fund, according to an analysis by X-Trade Brokers. Last year, the Ley depreciated by 8 percent against the US Dollar, the second biggest depreciation after the Hungarian Forint. The Leu was quite stable against the Euro last year, with only a 1.02 percent depreciation.