Tire producer Pirelli, which will invest EUR 1.9 million by 2015 worldwide, will direct some of the investments in increasing tire production capacities to the new plants in Romania, Mexico and China, the company has recently announced. On the industrial segment, investments will be focused on the steelcord factory in Romania, as well as on the company's subsidiaries in China, Egypt and Russia.

Romanian state-owned drug producer Antibiotice Iasi posted a net profit of RON 21 million (EUR 4.9 million) in the first nine months of the year, up 33.9 percent on the same period of last year.

Do-it-Yourself retailer Praktiker has expended the Ploiesti store by 2,000 sqm with an investment of EUR 2.2 million, the company has announced. The store, which was opened in 2003, is now spreading over 8,270 sqm.

Mercadia, the retail company controlled by Romanian billionaire Dinu Patriciu (in picture), will invest EUR 100 million in the Mic.ro network of stores, turning 2,000 of them into mobile stores. The company will buy cars and turns them into mobile stores. The company already signed for 1,000 Fiat Ducato cars with importer Autoitalia.

*National Bank officials about the possibility to exit crisis: the budget adjustment is just the start of reforms – in Ziarul Financiar
*Patriciu wants to invest EUR 100 million in putting Mic.ro on wheels – in Ziarul Financiar
*Astra profit grows four times in nine months to EUR 4.3 million – in Ziarul Financiar
*Ardaf won EUR 2.6 million but its business dropped 23 percent – in Ziarul Financiar
*BCR Life Insurance sees business up 37 percent – in Ziarul Financiar

The use of renewable energy sources, the increase in energy efficiency and a clean and safe energy infrastructure are all challenges that once accomplished might boost Romanian productivity and thus competitiveness. Romania-insider.com looks at the structural funds for economic competitiveness and at the companies that got them.

The Romanian gross domestic product (GDP) contracted by 0.7 percent in the third quarter of this year from the second and it dropped by 2.3 percent from January to September, according to the National Institute of Statistics. The Romanian GDP in the third quarter shrank by 2.5 percent in gross series compared to July-Sept. of 2009 and by 2.3 percent by seasonally adjusted series.

Several companies announced their financial results yesterday and the Romanian media was quick to capture them: A&D Pharma, Rompetrol Rafinare, Ranbaxy, Edy International Spedition. Most of them posted positive results, which trigger hopes of growth for the future too. Meanwhile, a new real estate investment was announced: the Electroputere shopping center in Craiova, which will include an Auchan hypermarket and several other retail brands from the portfolio owned by billionaire family Mulliez, writes the local media. Read more headlines from the Romanian and international media.

Real estate developer K&S Developments, owned by investors Kris Carton and Steven Van Den Bossche, will open the Electroputere Parc shopping center in Craiova in the second half of next year. The shopping center will feature an Auchan unit, the French retailer has announced. The new shopping center will be built on 12 hectares of land on the Electroputere Craiova industrial platform, owned by Al Arrab.

Romania has set a too optimistic target in joining the Eurozone in 2015, according to Peter Sanfey, chief economist with the European Bank for Reconstruction and Development (EBRD).

Tire producer Pirelli, which will invest EUR 1.9 million by 2015 worldwide, will direct some of the investments in increasing tire production capacities to the new plants in Romania, Mexico and China, the company has recently announced. On the industrial segment, investments will be focused on the steelcord factory in Romania, as well as on the company's subsidiaries in China, Egypt and Russia.

Romanian state-owned drug producer Antibiotice Iasi posted a net profit of RON 21 million (EUR 4.9 million) in the first nine months of the year, up 33.9 percent on the same period of last year.

Do-it-Yourself retailer Praktiker has expended the Ploiesti store by 2,000 sqm with an investment of EUR 2.2 million, the company has announced. The store, which was opened in 2003, is now spreading over 8,270 sqm.

Mercadia, the retail company controlled by Romanian billionaire Dinu Patriciu (in picture), will invest EUR 100 million in the Mic.ro network of stores, turning 2,000 of them into mobile stores. The company will buy cars and turns them into mobile stores. The company already signed for 1,000 Fiat Ducato cars with importer Autoitalia.

*National Bank officials about the possibility to exit crisis: the budget adjustment is just the start of reforms – in Ziarul Financiar
*Patriciu wants to invest EUR 100 million in putting Mic.ro on wheels – in Ziarul Financiar
*Astra profit grows four times in nine months to EUR 4.3 million – in Ziarul Financiar
*Ardaf won EUR 2.6 million but its business dropped 23 percent – in Ziarul Financiar
*BCR Life Insurance sees business up 37 percent – in Ziarul Financiar

The use of renewable energy sources, the increase in energy efficiency and a clean and safe energy infrastructure are all challenges that once accomplished might boost Romanian productivity and thus competitiveness. Romania-insider.com looks at the structural funds for economic competitiveness and at the companies that got them.

The Romanian gross domestic product (GDP) contracted by 0.7 percent in the third quarter of this year from the second and it dropped by 2.3 percent from January to September, according to the National Institute of Statistics. The Romanian GDP in the third quarter shrank by 2.5 percent in gross series compared to July-Sept. of 2009 and by 2.3 percent by seasonally adjusted series.

Several companies announced their financial results yesterday and the Romanian media was quick to capture them: A&D Pharma, Rompetrol Rafinare, Ranbaxy, Edy International Spedition. Most of them posted positive results, which trigger hopes of growth for the future too. Meanwhile, a new real estate investment was announced: the Electroputere shopping center in Craiova, which will include an Auchan hypermarket and several other retail brands from the portfolio owned by billionaire family Mulliez, writes the local media. Read more headlines from the Romanian and international media.

Real estate developer K&S Developments, owned by investors Kris Carton and Steven Van Den Bossche, will open the Electroputere Parc shopping center in Craiova in the second half of next year. The shopping center will feature an Auchan unit, the French retailer has announced. The new shopping center will be built on 12 hectares of land on the Electroputere Craiova industrial platform, owned by Al Arrab.

Romania has set a too optimistic target in joining the Eurozone in 2015, according to Peter Sanfey, chief economist with the European Bank for Reconstruction and Development (EBRD).