Foreign direct investments to Romania totaled EUR 1.43 billion in the first five months of the year, down 31.5 percent on the same period of last year, according to data recently released by the Romanian Central Bank (BNR). There was a volume of FDI of EUR 300 million in May this year.

Local IT distribution company Asesoft Distribution saw its revenues up 33 percent in the first half of this year, to USD 67.8 million, it has announced. Its target for the year is a turnover of USD 180 million. This would be an overall increase of over 30 percent in turnover compared to last year.

A Rolls-Royce Phantom Coupe was registered in Romania in June this year, the first such car after one and a half years, according to Mediafax newswire. The car is priced at EUR 340,000 in Europe, but it was not bought through Automobile Bavaria, the car brand representative in Romania, according to the newswire.

Romanian media, Horia Ciorcila charged with Stock Exchange manipulation – in Ziarul Financiar, Annual inflation down to 4.38% in June – in Ziarul Financiar, Vladescu: We need progressive taxation, flat tax is no longer coping – in Ziarul Financiar, Impact goes insolvent over a debt equivalent to three apartments' worth – in Ziarul Financiar, Government comes up with third plan to reboot economy – in Ziarul Financiar

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.

The head of Banca Transilvania's administration council, Horia Ciorcila and the head of Bank of Cyprus Romania, Georgios Christofourou have been summoned to trial on alleged stock market manipulation and money laundering in the Bank of Cyprus acquisition of a share package in Banca Transilvania earlier this year.

Around 2.7 million Romanian citizens are currently staying in other European Union member states, according to the Organization for Economic Co-operation and Development (OECD) in its most recent migration report. Their remittances reached USD 9.4 billion in 2008, the highest level so far, but went down rapidly in 2009

Oil company OMV Petrom (BVB symbol: SNP) has signed an agreement with Petrofac, the oil and gas facilities service provider, for the management of operations in nine oil fields in Ticleni area, South – West Romania. This should result in a 50 percent increase in production for the next five years.

Car prices dropped by over 10 percent last year in Romania, which represented one of the biggest price reductions in the European Union, after those in Slovenia, Latvia and Slovakia, according to a report from the European Commission.

Bucharest will have the highest development pace in Europe in the next five years, according to an Oxford Economics study, quoted by Mediafax newswire

Foreign direct investments to Romania totaled EUR 1.43 billion in the first five months of the year, down 31.5 percent on the same period of last year, according to data recently released by the Romanian Central Bank (BNR). There was a volume of FDI of EUR 300 million in May this year.

Local IT distribution company Asesoft Distribution saw its revenues up 33 percent in the first half of this year, to USD 67.8 million, it has announced. Its target for the year is a turnover of USD 180 million. This would be an overall increase of over 30 percent in turnover compared to last year.

A Rolls-Royce Phantom Coupe was registered in Romania in June this year, the first such car after one and a half years, according to Mediafax newswire. The car is priced at EUR 340,000 in Europe, but it was not bought through Automobile Bavaria, the car brand representative in Romania, according to the newswire.

Romanian media, Horia Ciorcila charged with Stock Exchange manipulation – in Ziarul Financiar, Annual inflation down to 4.38% in June – in Ziarul Financiar, Vladescu: We need progressive taxation, flat tax is no longer coping – in Ziarul Financiar, Impact goes insolvent over a debt equivalent to three apartments' worth – in Ziarul Financiar, Government comes up with third plan to reboot economy – in Ziarul Financiar

Local real estate developer Impact has entered insolvency after one of its contractors, Romconstruct Ploiesti, has asked for its insolvency in court over a debt of RON 1.3 million (around EUR 300,000). The real estate developer says it will appeal the court decision and qualifies the proceedings as unjustified and hostile.

The head of Banca Transilvania's administration council, Horia Ciorcila and the head of Bank of Cyprus Romania, Georgios Christofourou have been summoned to trial on alleged stock market manipulation and money laundering in the Bank of Cyprus acquisition of a share package in Banca Transilvania earlier this year.

Around 2.7 million Romanian citizens are currently staying in other European Union member states, according to the Organization for Economic Co-operation and Development (OECD) in its most recent migration report. Their remittances reached USD 9.4 billion in 2008, the highest level so far, but went down rapidly in 2009

Oil company OMV Petrom (BVB symbol: SNP) has signed an agreement with Petrofac, the oil and gas facilities service provider, for the management of operations in nine oil fields in Ticleni area, South – West Romania. This should result in a 50 percent increase in production for the next five years.

Car prices dropped by over 10 percent last year in Romania, which represented one of the biggest price reductions in the European Union, after those in Slovenia, Latvia and Slovakia, according to a report from the European Commission.

Bucharest will have the highest development pace in Europe in the next five years, according to an Oxford Economics study, quoted by Mediafax newswire