The European Bank for Reconstruction and Development (EBRD) has approved three credit lines worth a total of EUR 350 million for the National Bank of Greece's subsidiaries in Bulgaria, Romania and Serbia. The Romanian subsidiary, Banca Romaneasca, will get EUR 100 million in funding to support lending in the country.

Consumption of spirits in Romania has decreased this year to 5 liters per capita from 6 liters per capita last year because of the recession, said Romulus Dascalu, head of the Garant employers’ association in the industry, quoted by newswire Mediafax.

Romania’s Transport Ministry will launch EU-funded projects worth EUR 5.57 billion by the end of next year, among which the construction of 289 kilometers of highway and the upgrade of 166 kilometers of railway, Transport Minister Anca Boagiu said Sunday.

*Nicolae Danila, the wealthiest Romanian banker, has EUR 21 million in liquid assets. How he hedges against risk: has accounts with 15 banks – in Ziarul Financiar
*BCR lost EUR 120 million from clients who refinanced loans with other banks – in Ziarul Financiar
*Deutsche Telekom will invest EUR 1 billion in South Eastern Europe – in Ziarul Financiar
*One in three Romanians won't buy Christmas gifts – in Ziarul Financiar

The Cluj county Consumer Protection has applied a RON 100,000 (around EUR 23,000) fine to BCR and has asked for the suspension of lending after the bank has included the risk commission in the administration commission, although this has been forbidden by the Ordinance 50/2010.

French sports retailer Decathlon will open its fifth store in Romania, within Grand Arena Mall in Bucharest. The new store will cover 5,550 sqm.

*Consumption survives after VAT increase and drop in salaries – in Ziarul Financiar
*Medicover plans to double sales and add 500 employees – in Ziarul Financiar
*Owner of AFI Palace Cotroceni delays Warsaw stock exchange listing – in Ziarul Financiar
*The second management change in Ford Romania in less than two months – in Ziarul Financiar

Swedish security solutions provider Securitas has bought Romanian sector firm Cobra Security for an enterprise value of EUR 3.2 million from Romanian company UTI, owned by Tiberiu Urdareanu. Cobra, with a staff of more than 1,000 people and annual sales of nearly EUR 4.2 million, provides guarding and monitoring services, reads Securitas' statement.

Polish company ABC Data has taken over a 50.9 percent share package in local Scop Computers and plans to buy the remainder of the shares in the following three years. The total price of the block of 846 shares of Scop Computers on the day of the transaction was EUR 5 million, according to ABC Data

The Romanian Central Bank (BNR) has decided to keep the key interest rate at 6.25 percent, similarly to the last six months. BNR cut the rate from 6.5 percent to 6.25 percent in May this year. In December last year, the key policy rate was of 8 percent and was gradually decreased throughout 2010.

The European Bank for Reconstruction and Development (EBRD) has approved three credit lines worth a total of EUR 350 million for the National Bank of Greece's subsidiaries in Bulgaria, Romania and Serbia. The Romanian subsidiary, Banca Romaneasca, will get EUR 100 million in funding to support lending in the country.

Consumption of spirits in Romania has decreased this year to 5 liters per capita from 6 liters per capita last year because of the recession, said Romulus Dascalu, head of the Garant employers’ association in the industry, quoted by newswire Mediafax.

Romania’s Transport Ministry will launch EU-funded projects worth EUR 5.57 billion by the end of next year, among which the construction of 289 kilometers of highway and the upgrade of 166 kilometers of railway, Transport Minister Anca Boagiu said Sunday.

*Nicolae Danila, the wealthiest Romanian banker, has EUR 21 million in liquid assets. How he hedges against risk: has accounts with 15 banks – in Ziarul Financiar
*BCR lost EUR 120 million from clients who refinanced loans with other banks – in Ziarul Financiar
*Deutsche Telekom will invest EUR 1 billion in South Eastern Europe – in Ziarul Financiar
*One in three Romanians won't buy Christmas gifts – in Ziarul Financiar

The Cluj county Consumer Protection has applied a RON 100,000 (around EUR 23,000) fine to BCR and has asked for the suspension of lending after the bank has included the risk commission in the administration commission, although this has been forbidden by the Ordinance 50/2010.

French sports retailer Decathlon will open its fifth store in Romania, within Grand Arena Mall in Bucharest. The new store will cover 5,550 sqm.

*Consumption survives after VAT increase and drop in salaries – in Ziarul Financiar
*Medicover plans to double sales and add 500 employees – in Ziarul Financiar
*Owner of AFI Palace Cotroceni delays Warsaw stock exchange listing – in Ziarul Financiar
*The second management change in Ford Romania in less than two months – in Ziarul Financiar

Swedish security solutions provider Securitas has bought Romanian sector firm Cobra Security for an enterprise value of EUR 3.2 million from Romanian company UTI, owned by Tiberiu Urdareanu. Cobra, with a staff of more than 1,000 people and annual sales of nearly EUR 4.2 million, provides guarding and monitoring services, reads Securitas' statement.

Polish company ABC Data has taken over a 50.9 percent share package in local Scop Computers and plans to buy the remainder of the shares in the following three years. The total price of the block of 846 shares of Scop Computers on the day of the transaction was EUR 5 million, according to ABC Data

The Romanian Central Bank (BNR) has decided to keep the key interest rate at 6.25 percent, similarly to the last six months. BNR cut the rate from 6.5 percent to 6.25 percent in May this year. In December last year, the key policy rate was of 8 percent and was gradually decreased throughout 2010.