*Fondul Proprietatea moves to court the fight for Romgaz' money – in Ziarul Financiar
*France say Romania is riskier than Spain – in Ziarul Financiar
*Oradea builds industrial park with EUR 10 million – in Ziarul Financiar
*Piraeus makes EUR 147 million revenues form Romanian operations in nine months – in Ziarul Financiar

Franklin Templeton Investment Management Limited, the investment manager of Fondul Proprietatea says the fund will go to court against the recent Romgaz decision to donate EUR 93 million to the state budget. Romgaz's shareholders decided on their November 30 meeting to make the donation to the state, which is the main shareholder in the gas company.

Telecom company RCS &RDS will put EUR 10 million in Zece TV, a generalist TV station which will be launched on December 10 and will be broadcasted to all of the company's cable and satellite TV customers. The telecom company hopes it will attract more subscribers to its services, in a battle with competitors Romtelecom and UPC Romania.

*The first economy revival signs emerge. The question is, how solid are they? - in Ziarul Financiar
*Isarescu: we have reduced the interest rate, but banks have not - in Ziarul Financiar
*Oprescu expects Lia Manoliu stadium and Basarab passage in 2011 but doesn't announce any other major projects - in Ziarul Financiar
*Romania got less than 2% of the allotted EU funds. The remainder needs to be used in the next three years - in Ziarul Financiar

Hotel group Rezidor has taken over the management of the 295-apartment complex Centre Ville in Bucharest, which is owned by Bucuresti Turism. The hotel group also manages the adjoining five-star Radisson Blu hotel, owned by the same Bucuresti Turism.

Swedish MoSync, a company which produces open source development tools for mobile phone, has started recruiting local staff for its Cluj – Napoca-based development office, which is expected to reach a team of ten in the coming year. The company has advertised positions like software engineer and project manager.

The Bucharest Stock Exchange (BVB) plans to introduce Real Estate Investment Trusts (REITs) on trade on its regulated market, as a result of the development of investment funds which place money in real estate properties. The BVB is yet to announce the calendar of this project.

Investment fund Eastern Eagle, registered in the Cayman Islands, sold a 6 percent share package in stock – exchange listed Romcarbon Buzau (symbol ROCE) for EUR 772,000. The deal, sealed at RON 0.21 per share, valued the company at around EUR 12.9 million- its current market capitalization. The company posted loss in the first nine months of the year.

Romania's public debt exceeded EUR 43 billion at the end of September this year, reaching 36 percent of the country's GDP, according to data from the Ministry of Public Finances.

Companies interested in European funding may apply in the frame of different operational programs like Increase of Economic Competitiveness, Human Resources Development, National Program for Rural Development or the Regional Operational Program. See our recent articles here. We've listed some practical issues applicants should know, as well as some useful contacts for each area of interest.

*Fondul Proprietatea moves to court the fight for Romgaz' money – in Ziarul Financiar
*France say Romania is riskier than Spain – in Ziarul Financiar
*Oradea builds industrial park with EUR 10 million – in Ziarul Financiar
*Piraeus makes EUR 147 million revenues form Romanian operations in nine months – in Ziarul Financiar

Franklin Templeton Investment Management Limited, the investment manager of Fondul Proprietatea says the fund will go to court against the recent Romgaz decision to donate EUR 93 million to the state budget. Romgaz's shareholders decided on their November 30 meeting to make the donation to the state, which is the main shareholder in the gas company.

Telecom company RCS &RDS will put EUR 10 million in Zece TV, a generalist TV station which will be launched on December 10 and will be broadcasted to all of the company's cable and satellite TV customers. The telecom company hopes it will attract more subscribers to its services, in a battle with competitors Romtelecom and UPC Romania.

*The first economy revival signs emerge. The question is, how solid are they? - in Ziarul Financiar
*Isarescu: we have reduced the interest rate, but banks have not - in Ziarul Financiar
*Oprescu expects Lia Manoliu stadium and Basarab passage in 2011 but doesn't announce any other major projects - in Ziarul Financiar
*Romania got less than 2% of the allotted EU funds. The remainder needs to be used in the next three years - in Ziarul Financiar

Hotel group Rezidor has taken over the management of the 295-apartment complex Centre Ville in Bucharest, which is owned by Bucuresti Turism. The hotel group also manages the adjoining five-star Radisson Blu hotel, owned by the same Bucuresti Turism.

Swedish MoSync, a company which produces open source development tools for mobile phone, has started recruiting local staff for its Cluj – Napoca-based development office, which is expected to reach a team of ten in the coming year. The company has advertised positions like software engineer and project manager.

The Bucharest Stock Exchange (BVB) plans to introduce Real Estate Investment Trusts (REITs) on trade on its regulated market, as a result of the development of investment funds which place money in real estate properties. The BVB is yet to announce the calendar of this project.

Investment fund Eastern Eagle, registered in the Cayman Islands, sold a 6 percent share package in stock – exchange listed Romcarbon Buzau (symbol ROCE) for EUR 772,000. The deal, sealed at RON 0.21 per share, valued the company at around EUR 12.9 million- its current market capitalization. The company posted loss in the first nine months of the year.

Romania's public debt exceeded EUR 43 billion at the end of September this year, reaching 36 percent of the country's GDP, according to data from the Ministry of Public Finances.

Companies interested in European funding may apply in the frame of different operational programs like Increase of Economic Competitiveness, Human Resources Development, National Program for Rural Development or the Regional Operational Program. See our recent articles here. We've listed some practical issues applicants should know, as well as some useful contacts for each area of interest.