Romania's excises on fuels and tobacco will be raised as of January 1, 2011, which could lead to new increases in the price of such products, according to a draft emergency ordinance amending the Fiscal Code.

Real estate developer Copper Beech Capital, which has built the Blue Tower residential project in Bucharest, has been declared bankrupt after the court rejected its reorganization plan. The 16-storey block of flats in Colentina area of Bucharest should have been finalized in September last year and was expected to have 156 apartments.

A 10 percent drop in software piracy for Romania could lead to the creation of 3,700 new jobs and to additional revenues of USD 498 million for the local IT industry in the next four years, according to a recent study issued by International Data Corporation (IDC).

The court has blocked the shares owned by Romanian businessman Dan Adamescu in Astra Asigurari and Unirea Shopping Center in a forced execution case, according to reports sent by the two companies to the Bucharest Stock Exchange, where their shares are listed.

*Owner of Unirea Shopping Center, forced executed by AVAS (Authority for State Assets Recovery) - in Ziarul Financiar
*Head of Hidroelectrica, in conflict with the Fondul Proprietatea administrator - in Ziarul Financiar
*CFR: 41 km of railways with EUR 280 million - in Ziarul Financiar
*Google starts hiring in Romania - in Ziarul Financiar

The Romanian subsidiary of the Royal Bank of Scotland (RBS) posted a profit of EUR 23.3 million in the first nine months of the year and hopes to reach EUR 30.3 million in profit by the end of the year, according to Johan Patrick Gabriels, the RBS Romania president.

The American Chamber of Commerce in Romania, which has submitted around 34 papers to the Romanian authorities this year, proposing changes in various business fields, has seen the authorities using its proposals above its initial expectations. AmCham's proposals have been used in the renewable energy field, as well as on taxation and on workforce, according to Anca Harasim, executive director of AmCham.

Modern retail-hypermarkets, supermarkets, cash&carry and discount stores-accounted for over 50 percent of Romania's total retail market this year, exceeding traditional commerce, according to Competition Council official Valentin Mircea.

The Romanian Government approved the 2011 state budget in a Cabinet meeting late Monday and the bill will be forwarded to the Parliament, according to Mediafax newswire.

Forza Rossa, the Ferrari dealer in Romania, has already sold the planned stock for 2010 and for some models, has even reached the sales threshold set for next year, according to Camelia Bazac, the company's delegated administrator, quoted by Romanian media.

Romania's excises on fuels and tobacco will be raised as of January 1, 2011, which could lead to new increases in the price of such products, according to a draft emergency ordinance amending the Fiscal Code.

Real estate developer Copper Beech Capital, which has built the Blue Tower residential project in Bucharest, has been declared bankrupt after the court rejected its reorganization plan. The 16-storey block of flats in Colentina area of Bucharest should have been finalized in September last year and was expected to have 156 apartments.

A 10 percent drop in software piracy for Romania could lead to the creation of 3,700 new jobs and to additional revenues of USD 498 million for the local IT industry in the next four years, according to a recent study issued by International Data Corporation (IDC).

The court has blocked the shares owned by Romanian businessman Dan Adamescu in Astra Asigurari and Unirea Shopping Center in a forced execution case, according to reports sent by the two companies to the Bucharest Stock Exchange, where their shares are listed.

*Owner of Unirea Shopping Center, forced executed by AVAS (Authority for State Assets Recovery) - in Ziarul Financiar
*Head of Hidroelectrica, in conflict with the Fondul Proprietatea administrator - in Ziarul Financiar
*CFR: 41 km of railways with EUR 280 million - in Ziarul Financiar
*Google starts hiring in Romania - in Ziarul Financiar

The Romanian subsidiary of the Royal Bank of Scotland (RBS) posted a profit of EUR 23.3 million in the first nine months of the year and hopes to reach EUR 30.3 million in profit by the end of the year, according to Johan Patrick Gabriels, the RBS Romania president.

The American Chamber of Commerce in Romania, which has submitted around 34 papers to the Romanian authorities this year, proposing changes in various business fields, has seen the authorities using its proposals above its initial expectations. AmCham's proposals have been used in the renewable energy field, as well as on taxation and on workforce, according to Anca Harasim, executive director of AmCham.

Modern retail-hypermarkets, supermarkets, cash&carry and discount stores-accounted for over 50 percent of Romania's total retail market this year, exceeding traditional commerce, according to Competition Council official Valentin Mircea.

The Romanian Government approved the 2011 state budget in a Cabinet meeting late Monday and the bill will be forwarded to the Parliament, according to Mediafax newswire.

Forza Rossa, the Ferrari dealer in Romania, has already sold the planned stock for 2010 and for some models, has even reached the sales threshold set for next year, according to Camelia Bazac, the company's delegated administrator, quoted by Romanian media.