City Insurance plans to invest EUR 0.5 million in opening 40 insurance agencies across Romania by the end of 2010 and hopes to sell up to 30,000 home insurance policies, according to the company.

Consumer goods producer Procter & Gamble, which has recently opened its factory in Urlati, Romania, intends to invest in renewable energy that it could trade on the stock market, company representatives have said. “We intend to look at European funds for renewable energy, together with the Ministry of Environment. We could trade renewable energy on the stock market, as the transactions with green certificates are pending regulations,” said Ramona Brad, associate director for external relations with P&G.

Austrian wood production company Egger will invest EUR 150 million in a production line for oriented strand boards (OSB) in its Radauti factory, the company has announced. The company still needs to receive construction authorization for works on the new production line.

The Romanian Central Bank (BNR) has kept the key interest rate at 6.25 percent, as expected by market analysts. BNR has...

onstruction permits issued for residential buildings in August this year stood at 4,670, up 9.5 percent from July 2010 and 0.4 percent from the same month last year, according to the National Statistics Institute (INS).

Construction materials producer Somaco Grup Prefabricate sold 37 percent more aerated concrete blocks (BCA) products in the first nine months of the year compared to the same period of last year, the company has announced. Somaco plans to reach a sales increase of 10 percent throughout the entire year and estimates it will increase its turnover by up to 18 percent this year on last year.

Watercooler company La Fantana has bought the water purification importer and distributor Rokor Ecostyle, the company has announced. The enterprise value of the bought company was of EUR 4.35 million. The seller was Romanian investor Serban Andrei. Rokor Ecostyle will keep its brand and operate under La Fantana umbrella. The buyer says it will hold an 80 percent market share on the water purification market.

*Five bankers cashed in over EUR 1 million in 2009 for their 2008 results – in Ziarul Financiar
*Alcatel Lucent continues to hire software producers and engineers – in Ziarul Financiar
*Horvath & Partners: Romania ranks third in region in terms of investment potential – in Ziarul Financiar
*Gregory's changes director and strategy – continues with franchises – in Ziarul Financiar
*Romania, the sixth largest beneficiary of EU funds with EUR 1.7 bln. The absorption capacity by mid-year – 10.1% – in Ziarul Financiar

The new Bucharest Obor Market will be opened at the beginning of October, when the two-floorey building which was developed on the site will be finalized. The project, a partnership between the Bucharest Sector 2 city hall and a group of local developers, will feature traditional grocery sales areas, hosting some of the individuals producers which used to sell fruits and vegetables in the old Obor Market.

Around 40 percent of private companies in Romania estimate an average 6.8 percent raise in salaries in 2011, compared with an average 4.3 percent salary raise in 2010, according to a PayWell Romania survey on salary and benefits, conducted by PricewaterhouseCoopers (PwC).

City Insurance plans to invest EUR 0.5 million in opening 40 insurance agencies across Romania by the end of 2010 and hopes to sell up to 30,000 home insurance policies, according to the company.

Consumer goods producer Procter & Gamble, which has recently opened its factory in Urlati, Romania, intends to invest in renewable energy that it could trade on the stock market, company representatives have said. “We intend to look at European funds for renewable energy, together with the Ministry of Environment. We could trade renewable energy on the stock market, as the transactions with green certificates are pending regulations,” said Ramona Brad, associate director for external relations with P&G.

Austrian wood production company Egger will invest EUR 150 million in a production line for oriented strand boards (OSB) in its Radauti factory, the company has announced. The company still needs to receive construction authorization for works on the new production line.

The Romanian Central Bank (BNR) has kept the key interest rate at 6.25 percent, as expected by market analysts. BNR has...

onstruction permits issued for residential buildings in August this year stood at 4,670, up 9.5 percent from July 2010 and 0.4 percent from the same month last year, according to the National Statistics Institute (INS).

Construction materials producer Somaco Grup Prefabricate sold 37 percent more aerated concrete blocks (BCA) products in the first nine months of the year compared to the same period of last year, the company has announced. Somaco plans to reach a sales increase of 10 percent throughout the entire year and estimates it will increase its turnover by up to 18 percent this year on last year.

Watercooler company La Fantana has bought the water purification importer and distributor Rokor Ecostyle, the company has announced. The enterprise value of the bought company was of EUR 4.35 million. The seller was Romanian investor Serban Andrei. Rokor Ecostyle will keep its brand and operate under La Fantana umbrella. The buyer says it will hold an 80 percent market share on the water purification market.

*Five bankers cashed in over EUR 1 million in 2009 for their 2008 results – in Ziarul Financiar
*Alcatel Lucent continues to hire software producers and engineers – in Ziarul Financiar
*Horvath & Partners: Romania ranks third in region in terms of investment potential – in Ziarul Financiar
*Gregory's changes director and strategy – continues with franchises – in Ziarul Financiar
*Romania, the sixth largest beneficiary of EU funds with EUR 1.7 bln. The absorption capacity by mid-year – 10.1% – in Ziarul Financiar

The new Bucharest Obor Market will be opened at the beginning of October, when the two-floorey building which was developed on the site will be finalized. The project, a partnership between the Bucharest Sector 2 city hall and a group of local developers, will feature traditional grocery sales areas, hosting some of the individuals producers which used to sell fruits and vegetables in the old Obor Market.

Around 40 percent of private companies in Romania estimate an average 6.8 percent raise in salaries in 2011, compared with an average 4.3 percent salary raise in 2010, according to a PayWell Romania survey on salary and benefits, conducted by PricewaterhouseCoopers (PwC).