*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.

Romania’s Government pledged in its additional Memorandum of Understanding agreed with the European Union to extend the income taxation pool by taxing food vouchers and bank deposit interest, as well as by gradually eliminating income tax exemptions for computer programmers.

Russian natural gas giant Gazprom Friday said Romania confirmed its interest in the South Stream pipeline project. A Russian delegation met with Romanian officials Friday to discuss potential joint projects in the energy sector, particularly about setting up underground gas storage facilities in Romania.

Foreign direct investments to Romania (FDI) fell 36 percent to EUR1.9 billion in the first seven months of this year, from EUR 2.9 billion during the same period of last year, according to data from the Romanian Central Bank.

Romanian consumer prices went up 0.23 percent in August after a 2.6 percent increase a month earlier, while the annual inflation accelerated to 7.58 percent, the highest rate in two years, the country’s statistics institute INS said Friday. In July, the annual rate was 7.14 percent.

*Pharma market gets record growth – plus 35% in the second quarter – in Ziarul Financiar
*ING invests EUR 250 million in its Cluj service center – in Ziarul Financiar
*Boc Government pledges to build the 2011 budget with a 24% VAT – in Ziarul Financiar
*New strategy for RBS Bank – back to corporate – in Ziarul Financiar
*Diverta gives up 20% of retail space and shuts down 12 bookstores – in Ziarul Financiar

Romania's economy is expected to shrink two percent in 2010 and will increase between 1.5 and 2 percent in 2011, reads the additional letter of intent to the International Monetary Fund (IMF) approved by the Government. "The economic recovery will be delayed due to persisting low domestic demand, the unfavorable regional context and the recent floods," reads the document.

The Romanian Government has revised its estimate on primary spending to EUR 30.7 billion this year, from a previous EUR 30.5 billion, according to the additional letter of intent to the International Monetary Fund deal, quoted by Mediafax newswire.

Romania ranks 67th of the 137 countries included in the world competitiveness report issued by the World Economic Forum. The country is down three places compared to last year.

*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.

Romania’s Government pledged in its additional Memorandum of Understanding agreed with the European Union to extend the income taxation pool by taxing food vouchers and bank deposit interest, as well as by gradually eliminating income tax exemptions for computer programmers.

Russian natural gas giant Gazprom Friday said Romania confirmed its interest in the South Stream pipeline project. A Russian delegation met with Romanian officials Friday to discuss potential joint projects in the energy sector, particularly about setting up underground gas storage facilities in Romania.

Foreign direct investments to Romania (FDI) fell 36 percent to EUR1.9 billion in the first seven months of this year, from EUR 2.9 billion during the same period of last year, according to data from the Romanian Central Bank.

Romanian consumer prices went up 0.23 percent in August after a 2.6 percent increase a month earlier, while the annual inflation accelerated to 7.58 percent, the highest rate in two years, the country’s statistics institute INS said Friday. In July, the annual rate was 7.14 percent.

*Pharma market gets record growth – plus 35% in the second quarter – in Ziarul Financiar
*ING invests EUR 250 million in its Cluj service center – in Ziarul Financiar
*Boc Government pledges to build the 2011 budget with a 24% VAT – in Ziarul Financiar
*New strategy for RBS Bank – back to corporate – in Ziarul Financiar
*Diverta gives up 20% of retail space and shuts down 12 bookstores – in Ziarul Financiar

Romania's economy is expected to shrink two percent in 2010 and will increase between 1.5 and 2 percent in 2011, reads the additional letter of intent to the International Monetary Fund (IMF) approved by the Government. "The economic recovery will be delayed due to persisting low domestic demand, the unfavorable regional context and the recent floods," reads the document.

The Romanian Government has revised its estimate on primary spending to EUR 30.7 billion this year, from a previous EUR 30.5 billion, according to the additional letter of intent to the International Monetary Fund deal, quoted by Mediafax newswire.

Romania ranks 67th of the 137 countries included in the world competitiveness report issued by the World Economic Forum. The country is down three places compared to last year.