Seven European banks, most of which coming from Spain, have failed the European union's stress test whose results were published on Friday. One of the banks that has failed the test, Greek ATE Bank, is also active in Romania. The seventh bank is the German Hypo Real Estate bank.

Foreign direct investments in Romania went down in May this year by 31.5 percent compared to the same month of 2009, according to the Foreign Investments Direction within the Romanian Center for the Promotion of Trade and Investments. It had been worse at the beginning of the year, when the FDI drop was of 73 percent, but investments increased during March, where the drop was of only 48 percent.

The International Monetary Fund and the European Commission have agreed with the first nine foreign banks in Romania over an exposure rate of 95 percent of the level in March 2009. IMF, Eu and banks' representatives met yesterday in Brussels, together with Romanian Central Bank (BNR) and Finance Ministry representatives from Romania.

Romanian media, New round of talks with IMF starts from 0.5% GDP decline scenario in 2011 – in Ziarul Financiar, Romanian shops no longer give fiscal receipts to make food cheaper– in Ziarul Financiar, iFond brings FP shares to the Stock Exchange sooner – in Ziarul Financiar, Four banks have 33 million euros to recoup from insolvent Impact – in Ziarul Financiar, 100 wind project have contracts with Transelectrica – in Ziarul Financiar,

The European Bank for Reconstruction and Development (EBRD) expects Romania to post an economic drop of 3 percent this year, which will reflect the evolution in the first quarter of the year and the fiscal measures taken as part of the agreement with the International Monetary Fund (IMF).

Security company Scorseze Security will watch over the Bucharest metro security in the next four years, after the company signed a EUR 12.1 million (RON 51.79 million) contract with state company Metrorex. The public contract was offered after a negotiation procedure, according to a Metrorex announcement. The state company had received three offers for security services in the metro system.

The European Commission has warned Romania it would start the infringement procedures against the country of it won't change the legislation which stated the drop in salaries for Romanian Central Bank (BNR) employees. According to the EC, this is against certain provisions in the EU Treaty, according to Mediafax quoting official sources.

The amount for which a company can ask for another company's insolvency will increase from the current level of RON 30,000 (approximately EUR 7,000) to RON 45,000 (around EUR 10,400), according to Radu Ghetea, the president of the Romanian Bank Association (ARB).

Romania ranks second in terms of the hourly workforce cost increase among the newest ten EU member states, shows a recent report from the World Bank. The recently issued report on economic development in EU 10 (the countries which joined the EU in 2004 and 2007) shows most of the countries have simplified the procedures to access EU funds, monitor and manage these funds, while Romania has taken measures only on the implementation of these funds.

Consumer credit company Provident Financial Romania granted in the first half of this year loans worth more than EUR 42 million, up from 30 million EUR at the end of June 2009. The company had at the end of June 2010 over 187,000 customers, up from 120,000 customers in June 2009. Its revenues went up to nearly 30 million EUR from 17.5 million EUR in the first half of 2009.

Seven European banks, most of which coming from Spain, have failed the European union's stress test whose results were published on Friday. One of the banks that has failed the test, Greek ATE Bank, is also active in Romania. The seventh bank is the German Hypo Real Estate bank.

Foreign direct investments in Romania went down in May this year by 31.5 percent compared to the same month of 2009, according to the Foreign Investments Direction within the Romanian Center for the Promotion of Trade and Investments. It had been worse at the beginning of the year, when the FDI drop was of 73 percent, but investments increased during March, where the drop was of only 48 percent.

The International Monetary Fund and the European Commission have agreed with the first nine foreign banks in Romania over an exposure rate of 95 percent of the level in March 2009. IMF, Eu and banks' representatives met yesterday in Brussels, together with Romanian Central Bank (BNR) and Finance Ministry representatives from Romania.

Romanian media, New round of talks with IMF starts from 0.5% GDP decline scenario in 2011 – in Ziarul Financiar, Romanian shops no longer give fiscal receipts to make food cheaper– in Ziarul Financiar, iFond brings FP shares to the Stock Exchange sooner – in Ziarul Financiar, Four banks have 33 million euros to recoup from insolvent Impact – in Ziarul Financiar, 100 wind project have contracts with Transelectrica – in Ziarul Financiar,

The European Bank for Reconstruction and Development (EBRD) expects Romania to post an economic drop of 3 percent this year, which will reflect the evolution in the first quarter of the year and the fiscal measures taken as part of the agreement with the International Monetary Fund (IMF).

Security company Scorseze Security will watch over the Bucharest metro security in the next four years, after the company signed a EUR 12.1 million (RON 51.79 million) contract with state company Metrorex. The public contract was offered after a negotiation procedure, according to a Metrorex announcement. The state company had received three offers for security services in the metro system.

The European Commission has warned Romania it would start the infringement procedures against the country of it won't change the legislation which stated the drop in salaries for Romanian Central Bank (BNR) employees. According to the EC, this is against certain provisions in the EU Treaty, according to Mediafax quoting official sources.

The amount for which a company can ask for another company's insolvency will increase from the current level of RON 30,000 (approximately EUR 7,000) to RON 45,000 (around EUR 10,400), according to Radu Ghetea, the president of the Romanian Bank Association (ARB).

Romania ranks second in terms of the hourly workforce cost increase among the newest ten EU member states, shows a recent report from the World Bank. The recently issued report on economic development in EU 10 (the countries which joined the EU in 2004 and 2007) shows most of the countries have simplified the procedures to access EU funds, monitor and manage these funds, while Romania has taken measures only on the implementation of these funds.

Consumer credit company Provident Financial Romania granted in the first half of this year loans worth more than EUR 42 million, up from 30 million EUR at the end of June 2009. The company had at the end of June 2010 over 187,000 customers, up from 120,000 customers in June 2009. Its revenues went up to nearly 30 million EUR from 17.5 million EUR in the first half of 2009.