A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.

*Central Bank governor warns: populism is the road to hell for Romania – in Ziarul Financiar
*Kazachs take Romanian state on board in Petromidia shareholding structure – in Ziarul Financiar
*Ford: local production helps us in the image department. We stay at 10% of the market – in Ziarul Financiar
*Fiscal authority eyes those whose wealth grows by more than EUR 50,000 a year – in Ziarul Financiar
*Horia Manda wants acquisitions between EUR 5 and EUR 20 million with a new fund he brings to Romania – in Ziarul Financiar

The Romanian authorities Thursday rejoined the shareholder structure of oil refinery Rompetrol Rafinare (RRC.RO on the Bucharest Stock Exchange) with a 44.69 percent stake, after the latter failed to redeem in cash a EUR 540 million convertible hybrid held by the government on account of a historic debt. Rompetrol Rafinare decided to convert most of the hybrid into shares instead, the oil company said in a statement.

Axxess Capital has launched the Emerging Europe Accession Fund (EEAF), with a targeted capitalization of EUR 150 million, which will invest in Romania, Bulgaria and Turkey. The fund, managed by the same team which runs the Balkan Accession Fund (BAF), had a first close at EUR 94 million.

The Romanian Government will re-organize a bid for the concession of the Comarnic – Brasov highway segment in 2011, after the contract that was supposed to be signed with the Vinci – Aktor consortium was canceled. The Transport Ministry will change the documentation in order to avoid the issues it faced the first time, said Eusebiu Pistru, state secretary with the ministry.

Works on the first Lidl discounter store in Romania will start in October in Galati, with an estimated investment of EUR 5 million, according to the city's deputy mayor Nicuşor Ciumacenco. Lidl&Scwartz.co&KG will build the store near the former military unit in Ţiglina I area of Galati.

CEZ will finalize next year the second stage of the wind park in Dobrogea, Cogealac. “Next year, the park will have 600 MW. We currently have an installed capacity of 300 MW. We have started works on the second stage of the project, in Cogealac, and we'll finalize works in a year,” said Adrian Vorotea, head of corporate affairs of CEZ Romania.

Power and gas company E.ON invested around EUR 300 million in Romania between 2005 and 2009 in revamping natural gas and electricity distribution networks in the country, the company has announced.

Employers will be able to petition city hall for a number of special books and stamps, allowing them to hire a certain number of daily laborers for unskilled work, said Labor Minister Ioan Botis. He also said the Labor Ministry will distribute these books to local authorities and local Labor Inspection offices will check whether employers observe the new legislation.

A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.

*Central Bank governor warns: populism is the road to hell for Romania – in Ziarul Financiar
*Kazachs take Romanian state on board in Petromidia shareholding structure – in Ziarul Financiar
*Ford: local production helps us in the image department. We stay at 10% of the market – in Ziarul Financiar
*Fiscal authority eyes those whose wealth grows by more than EUR 50,000 a year – in Ziarul Financiar
*Horia Manda wants acquisitions between EUR 5 and EUR 20 million with a new fund he brings to Romania – in Ziarul Financiar

The Romanian authorities Thursday rejoined the shareholder structure of oil refinery Rompetrol Rafinare (RRC.RO on the Bucharest Stock Exchange) with a 44.69 percent stake, after the latter failed to redeem in cash a EUR 540 million convertible hybrid held by the government on account of a historic debt. Rompetrol Rafinare decided to convert most of the hybrid into shares instead, the oil company said in a statement.

Axxess Capital has launched the Emerging Europe Accession Fund (EEAF), with a targeted capitalization of EUR 150 million, which will invest in Romania, Bulgaria and Turkey. The fund, managed by the same team which runs the Balkan Accession Fund (BAF), had a first close at EUR 94 million.

The Romanian Government will re-organize a bid for the concession of the Comarnic – Brasov highway segment in 2011, after the contract that was supposed to be signed with the Vinci – Aktor consortium was canceled. The Transport Ministry will change the documentation in order to avoid the issues it faced the first time, said Eusebiu Pistru, state secretary with the ministry.

Works on the first Lidl discounter store in Romania will start in October in Galati, with an estimated investment of EUR 5 million, according to the city's deputy mayor Nicuşor Ciumacenco. Lidl&Scwartz.co&KG will build the store near the former military unit in Ţiglina I area of Galati.

CEZ will finalize next year the second stage of the wind park in Dobrogea, Cogealac. “Next year, the park will have 600 MW. We currently have an installed capacity of 300 MW. We have started works on the second stage of the project, in Cogealac, and we'll finalize works in a year,” said Adrian Vorotea, head of corporate affairs of CEZ Romania.

Power and gas company E.ON invested around EUR 300 million in Romania between 2005 and 2009 in revamping natural gas and electricity distribution networks in the country, the company has announced.

Employers will be able to petition city hall for a number of special books and stamps, allowing them to hire a certain number of daily laborers for unskilled work, said Labor Minister Ioan Botis. He also said the Labor Ministry will distribute these books to local authorities and local Labor Inspection offices will check whether employers observe the new legislation.