Total hourly labor costs in the Romanian economy rose 5 percent on the year in April to June, the second-biggest increase in the European Union, official data showed Tuesday.

Around 50 French companies are currently looking at the Romanian market and plan to start investing locally in areas like medicine, energy and environment and some of them could turn these plans into reality on the medium term, according to the French Chamber of Commerce and Industry in Romania (CCIFER).

An Emporio Armani store will open this month on Calea Victoriei, opposite two hotels in the area: Grand Hotel Continental and Novotel. Alsa Fashion Group took the franchise rights to bring the fashion brand to Romania. The 1,200 sqm store, which used to host the Phylosophy brand, will host an Armani monobrand store and an Armani Cafe coffee shop.

The presidents of Georgia and Romania, Mikhail Saakashvili and Traian Basescu, and Hungarian Prime Minister Viktor Orban on Tuesday will meet Azerbaijan’s President Ilham Aliyev at the latter’s residence Gyanjlik to discuss the project of pumping liquefied gas from Azerbaijan to Romania via Georgia’s territory, according to Itar Tass newswire.

French retailer Auchan will open a store in Iasi, within the Palas real estate project in the Moldavian city. The retailer and Iulius Group, the developer will hold a joint press conference announcing the opening on Thursday, September 16.

*ANAF: If Rompetrol doesn't pay the entire debt, we will resort to foreclosure - in Ziarul Financiar
*Japanese telecom giant KDDI considers investing in Romania - in Ziarul Financiar
*Most abrupt increase in unemployment since 1992 - in Ziarul Financiar
*Three Romanian castles attract fewer visitors than one German castle - in Ziarul Financiar
*10,000 people queuing up for 300 jobs - in Ziarul Financiar

Romania will have a functional online payments system from January 1st, 2011, according to the Romanian Communication Ministry.

The bankruptcy of local business partners is one of the most frequent problems for German, Austrian and Swiss investors in Romania, according to consultancy and audit firm LeitnerLeitner.

*Fiscal Authority seizes land plots and installations from Petromidia – in Ziarul Financiar
*Best paid lawyer made EUR 3 million last year – in Ziarul Financiar
*Provisions eat EUR 228 million out of banks' revenues in July – in Ziarul Financiar
*BCR, valued by Austrians at EUR 2.6 billion – in Ziarul Financiar
*French Cora bets on smaller stores – in Ziarul Financiar

Oil company Rompetrol Rafinare's assets and its participations in subsidiaries have been seized by the Romanian Fiscal Authority (ANAF) in an attempt to recover a USD 570 million debt and prevent the alienation of these assets. The company's main asset is the Petromidia refinery.

Total hourly labor costs in the Romanian economy rose 5 percent on the year in April to June, the second-biggest increase in the European Union, official data showed Tuesday.

Around 50 French companies are currently looking at the Romanian market and plan to start investing locally in areas like medicine, energy and environment and some of them could turn these plans into reality on the medium term, according to the French Chamber of Commerce and Industry in Romania (CCIFER).

An Emporio Armani store will open this month on Calea Victoriei, opposite two hotels in the area: Grand Hotel Continental and Novotel. Alsa Fashion Group took the franchise rights to bring the fashion brand to Romania. The 1,200 sqm store, which used to host the Phylosophy brand, will host an Armani monobrand store and an Armani Cafe coffee shop.

The presidents of Georgia and Romania, Mikhail Saakashvili and Traian Basescu, and Hungarian Prime Minister Viktor Orban on Tuesday will meet Azerbaijan’s President Ilham Aliyev at the latter’s residence Gyanjlik to discuss the project of pumping liquefied gas from Azerbaijan to Romania via Georgia’s territory, according to Itar Tass newswire.

French retailer Auchan will open a store in Iasi, within the Palas real estate project in the Moldavian city. The retailer and Iulius Group, the developer will hold a joint press conference announcing the opening on Thursday, September 16.

*ANAF: If Rompetrol doesn't pay the entire debt, we will resort to foreclosure - in Ziarul Financiar
*Japanese telecom giant KDDI considers investing in Romania - in Ziarul Financiar
*Most abrupt increase in unemployment since 1992 - in Ziarul Financiar
*Three Romanian castles attract fewer visitors than one German castle - in Ziarul Financiar
*10,000 people queuing up for 300 jobs - in Ziarul Financiar

Romania will have a functional online payments system from January 1st, 2011, according to the Romanian Communication Ministry.

The bankruptcy of local business partners is one of the most frequent problems for German, Austrian and Swiss investors in Romania, according to consultancy and audit firm LeitnerLeitner.

*Fiscal Authority seizes land plots and installations from Petromidia – in Ziarul Financiar
*Best paid lawyer made EUR 3 million last year – in Ziarul Financiar
*Provisions eat EUR 228 million out of banks' revenues in July – in Ziarul Financiar
*BCR, valued by Austrians at EUR 2.6 billion – in Ziarul Financiar
*French Cora bets on smaller stores – in Ziarul Financiar

Oil company Rompetrol Rafinare's assets and its participations in subsidiaries have been seized by the Romanian Fiscal Authority (ANAF) in an attempt to recover a USD 570 million debt and prevent the alienation of these assets. The company's main asset is the Petromidia refinery.