*BNR Governor Isarescu: Economic comeback only after state layoffs – in Ziarul Financiar
*Romania, second highest number of corporate tax payments in the world – in Ziarul Financiar
*Drop in consumption affects the telecom market – in Ziarul Financiar
*After avoiding bankruptcy, Ves Sighisoara can't keep up with orders – in Ziarul Financiar
*Cosmote grows, Romtelecom reaps the benefits of launching NextGen – in Ziarul Financiar

Mobile telephony operator Cosmote Romania posted EUR 117.5 million in revenues in the third quarter of the year, up 8.5 percent on the same period last year, the company has announced. Its profit before taxes (EBITDA) was of EUR 23.3 million, an increase of 24.6 percent on the previous quarter, following the integration of Zapp operator.

The European Bank for Reconstruction and development (EBRD) has signed investments worth EUR 200 million for Piraeus Group's subsidiaries in Bulgaria, Romania and Albania as part of a package approved in July 2010. The aim of the financing is to provide medium and long-term debt financing through Piraeus Group subsidiaries in support of SMEs and corporate organizations for investment and working capital needs.

Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

Romanian travel agency Eximtur posted a turnover of EUR 22 million in the first nine months of this year, down 2.65 percent on the same period of last year, according to the company. Eximtur posted a EUR 26.7 million turnover last year.

The Romanian economy is likely to grow by 1.6 percent in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4 percent next year, above the central bank’s upper band target of 4 percent, a PricewaterhouseCoopers (PwC) survey shows.

*BNR Governor Isarescu: Economic comeback only after state layoffs – in Ziarul Financiar
*Romania, second highest number of corporate tax payments in the world – in Ziarul Financiar
*Drop in consumption affects the telecom market – in Ziarul Financiar
*After avoiding bankruptcy, Ves Sighisoara can't keep up with orders – in Ziarul Financiar
*Cosmote grows, Romtelecom reaps the benefits of launching NextGen – in Ziarul Financiar

Mobile telephony operator Cosmote Romania posted EUR 117.5 million in revenues in the third quarter of the year, up 8.5 percent on the same period last year, the company has announced. Its profit before taxes (EBITDA) was of EUR 23.3 million, an increase of 24.6 percent on the previous quarter, following the integration of Zapp operator.

The European Bank for Reconstruction and development (EBRD) has signed investments worth EUR 200 million for Piraeus Group's subsidiaries in Bulgaria, Romania and Albania as part of a package approved in July 2010. The aim of the financing is to provide medium and long-term debt financing through Piraeus Group subsidiaries in support of SMEs and corporate organizations for investment and working capital needs.

Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

Romanian travel agency Eximtur posted a turnover of EUR 22 million in the first nine months of this year, down 2.65 percent on the same period of last year, according to the company. Eximtur posted a EUR 26.7 million turnover last year.

The Romanian economy is likely to grow by 1.6 percent in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4 percent next year, above the central bank’s upper band target of 4 percent, a PricewaterhouseCoopers (PwC) survey shows.