The head of Banca Transilvania's administration council, Horia Ciorcila and the head of Bank of Cyprus Romania, Georgios Christofourou have been summoned to trial on alleged stock market manipulation and money laundering in the Bank of Cyprus acquisition of a share package in Banca Transilvania earlier this year.

Around 2.7 million Romanian citizens are currently staying in other European Union member states, according to the Organization for Economic Co-operation and Development (OECD) in its most recent migration report. Their remittances reached USD 9.4 billion in 2008, the highest level so far, but went down rapidly in 2009

Oil company OMV Petrom (BVB symbol: SNP) has signed an agreement with Petrofac, the oil and gas facilities service provider, for the management of operations in nine oil fields in Ticleni area, South – West Romania. This should result in a 50 percent increase in production for the next five years.

Car prices dropped by over 10 percent last year in Romania, which represented one of the biggest price reductions in the European Union, after those in Slovenia, Latvia and Slovakia, according to a report from the European Commission.

Bucharest will have the highest development pace in Europe in the next five years, according to an Oxford Economics study, quoted by Mediafax newswire

Romanian media, EUR 11.3 billion businesses insolvent in 28 months – in Ziarul Financiar, Economy unlikely to rebound unless lending market improves– in Ziarul Financiar, The billion-RON Fondul Proprietatea dividends closer to being distributed– in Ziarul Financiar, ButanGas sets its sights on wind power development– in Ziarul Financiar, Breath of fresh air for car market: 12% higher sales in June– in Ziarul Financiar, Unilever gets licence for Rom, brings third local brand onto ice cream market– in Ziarul Financiar

US company Lufkin Industries, Inc. (Nasdaq: LUFK) has announced its plans to build a manufacturing facility near Ploiesti, with an investment of USD 126 million. This facility will manufacture products for both the company's oilfield and power transmission divisions with an initial focus on oilfield products.

Romanian media

Mittal posts biggest loss in Romania - 334 million euros – in Ziarul Financiar

Duster drives production of Dacia plant to 1,000 vehicles a day – in Ziarul Financiar

Canada's Celestica hires 900 people in Bihor – in Ziarul Financiar

The first 300 kilometers of the Netcity telecommunication network could be finalized by 2011, which is 35 percent of the...

Several buildings in the old part of Bucharest, opposite the Romanian Central Bank (BNR) headquarters will be demolished...

The head of Banca Transilvania's administration council, Horia Ciorcila and the head of Bank of Cyprus Romania, Georgios Christofourou have been summoned to trial on alleged stock market manipulation and money laundering in the Bank of Cyprus acquisition of a share package in Banca Transilvania earlier this year.

Around 2.7 million Romanian citizens are currently staying in other European Union member states, according to the Organization for Economic Co-operation and Development (OECD) in its most recent migration report. Their remittances reached USD 9.4 billion in 2008, the highest level so far, but went down rapidly in 2009

Oil company OMV Petrom (BVB symbol: SNP) has signed an agreement with Petrofac, the oil and gas facilities service provider, for the management of operations in nine oil fields in Ticleni area, South – West Romania. This should result in a 50 percent increase in production for the next five years.

Car prices dropped by over 10 percent last year in Romania, which represented one of the biggest price reductions in the European Union, after those in Slovenia, Latvia and Slovakia, according to a report from the European Commission.

Bucharest will have the highest development pace in Europe in the next five years, according to an Oxford Economics study, quoted by Mediafax newswire

Romanian media, EUR 11.3 billion businesses insolvent in 28 months – in Ziarul Financiar, Economy unlikely to rebound unless lending market improves– in Ziarul Financiar, The billion-RON Fondul Proprietatea dividends closer to being distributed– in Ziarul Financiar, ButanGas sets its sights on wind power development– in Ziarul Financiar, Breath of fresh air for car market: 12% higher sales in June– in Ziarul Financiar, Unilever gets licence for Rom, brings third local brand onto ice cream market– in Ziarul Financiar

US company Lufkin Industries, Inc. (Nasdaq: LUFK) has announced its plans to build a manufacturing facility near Ploiesti, with an investment of USD 126 million. This facility will manufacture products for both the company's oilfield and power transmission divisions with an initial focus on oilfield products.

Romanian media

Mittal posts biggest loss in Romania - 334 million euros – in Ziarul Financiar

Duster drives production of Dacia plant to 1,000 vehicles a day – in Ziarul Financiar

Canada's Celestica hires 900 people in Bihor – in Ziarul Financiar

The first 300 kilometers of the Netcity telecommunication network could be finalized by 2011, which is 35 percent of the...

Several buildings in the old part of Bucharest, opposite the Romanian Central Bank (BNR) headquarters will be demolished...