French hypermarket chain Cora has signed a lease agreement to open a hypermarket in GTC's Galleria Arad, which will be inaugurated in 2011. Romania Hypermarche, which runs the Cora hypermarket chain in Romania, will open a 9,000 sqm hypermarket in Galleria Arad as the first shop in the city.

Bucharest is down five places on last year's ranking in the European Cities Monitor by real estate consultancy Cushman & Wakefield. The Romanian Capital city ranks second to last, on the 35th position, being followed only by Athens. The top takes into account companies' preferences on European cities where they could expand, looking at several criteria, among which the cost of staff.

The number of foreign tourists who entered Romania was 8.9 percent higher in August compared with the same month a year before, while the number of tourists accommodated was down 15.2 percent on the year, the National Statistics Institute said Monday.

Local private health care service operator Gral Medical posted EUR 9 million revenues in the first eight months of the year, exceeding its expectations for the entire 2010, the company has announced.

Romanian investor Dinu Patriciu and journalist Sorin Rosca Stanescu have recently launched an online bookstore under the brand Corect Books, which will sell only digital books. The investment in the project was of EUR 100,000, but will reach EUR 2 million for a wider project which includes a media portal as well.

Romanians have sent money back home from 170 countries in the world, according to Western Union. The remittances are higher in the countries where the Romanian communities are bigger – in Europe, in the US and even in the Persian Golf.

The Romanian Central Bank governor Mugur Isarescu believes Romania no longer needs a new financial agreement with the International Monetary Fund (IMF).

*IMF: Romania needs EUR 38 billion next year – in Ziarul Financiar
*Kazakhs now want state's shares in Petromidia – in Ziarul Financiar
*EUR 10,000 from the state for young people who want to start businesses – in Ziarul Financiar
*Hornbach opens the Prisma store by the end of the year – in Ziarul Financiar
*IMF money move BNR's reserves up to EUR 32.6 billion in September – in Gandul

A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.

French hypermarket chain Cora has signed a lease agreement to open a hypermarket in GTC's Galleria Arad, which will be inaugurated in 2011. Romania Hypermarche, which runs the Cora hypermarket chain in Romania, will open a 9,000 sqm hypermarket in Galleria Arad as the first shop in the city.

Bucharest is down five places on last year's ranking in the European Cities Monitor by real estate consultancy Cushman & Wakefield. The Romanian Capital city ranks second to last, on the 35th position, being followed only by Athens. The top takes into account companies' preferences on European cities where they could expand, looking at several criteria, among which the cost of staff.

The number of foreign tourists who entered Romania was 8.9 percent higher in August compared with the same month a year before, while the number of tourists accommodated was down 15.2 percent on the year, the National Statistics Institute said Monday.

Local private health care service operator Gral Medical posted EUR 9 million revenues in the first eight months of the year, exceeding its expectations for the entire 2010, the company has announced.

Romanian investor Dinu Patriciu and journalist Sorin Rosca Stanescu have recently launched an online bookstore under the brand Corect Books, which will sell only digital books. The investment in the project was of EUR 100,000, but will reach EUR 2 million for a wider project which includes a media portal as well.

Romanians have sent money back home from 170 countries in the world, according to Western Union. The remittances are higher in the countries where the Romanian communities are bigger – in Europe, in the US and even in the Persian Golf.

The Romanian Central Bank governor Mugur Isarescu believes Romania no longer needs a new financial agreement with the International Monetary Fund (IMF).

*IMF: Romania needs EUR 38 billion next year – in Ziarul Financiar
*Kazakhs now want state's shares in Petromidia – in Ziarul Financiar
*EUR 10,000 from the state for young people who want to start businesses – in Ziarul Financiar
*Hornbach opens the Prisma store by the end of the year – in Ziarul Financiar
*IMF money move BNR's reserves up to EUR 32.6 billion in September – in Gandul

A recent article published by Reuters newswire points out to a trend that has been catching in Romania: local company owners prefer to incorporate their business in neighboring Bulgaria, where the Government has implemented measures which help companies weather the crisis, rather than continuing to pay taxes in their home country.

Romanian foreign exchange (forex) reserves rose by EUR 1 billion on the month to EUR 32.58 billion in September, boosted by money from the International Monetary Fund and the European Commission, the Romanian Central Bank (BNR) said Friday. End-August, hard currency reserves reached EUR 31.55 billion.