Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea...

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

Kazakhstan’s KazMunayGas, the owner of Rompetrol group, is ready to buy back the shares the Romanian state could take over in Rompetrol Rafinare, according to the Rompetrol president Saduokhas Meraliyev. The state could do this if KazMunayGas will not pay its entire debt to the Romanian state. The state could sell the shares to third parties, but KazMunayGas has the preemption rights

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.

Romanian media

Idea of dropping flat tax bewilders political and business circles – in Ziarul Financiar

Ikea...

Investment fund Interprime Properties, which is part of the Swedish group Ikea, has bough the Timpuri Noi industrial platform in Bucharest for EUR 34.6 million. The 51,000 – sqm land plot, which has been up for sale for a couple of years, was initially on sale for EUR 100 million for the land plot, which is 60 percent covered by buildings

US automotive safety restraints producer ‘Key Safety Systems' (KSS), is planning to build a factory in the Curtici Free area in Arad county. The 12,000 – sqm facility will become KSS' third factory in Romania in 2011, when it will become operational.

Finance minister Sebastian Vladescu said Romania should tax income and pensions on a progressive scale starting 2011. Romania has been applying a 16 percent flat tax on income for the last five years. Vladescu also mentions the VAT drop

Kazakhstan’s KazMunayGas, the owner of Rompetrol group, is ready to buy back the shares the Romanian state could take over in Rompetrol Rafinare, according to the Rompetrol president Saduokhas Meraliyev. The state could do this if KazMunayGas will not pay its entire debt to the Romanian state. The state could sell the shares to third parties, but KazMunayGas has the preemption rights

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.