Romanian media

Ziarul Financiar:

Isărescu: Inflation to stop at 8%, hopefully exchange rate will help

After cars...

Several oil companies and consortia have won oil concessions in Romania following a bid organized by the state. Two consortia and a company have won three oil resources concessions in the Black Sea, the National Mineral Resources Agency has announced.

An International Monetary Fund (IMF) team will come to Bucharest on July 26 for the fifth revision of the stand-by agreement with Romania. The mission, which is expected to end on August 4, will evaluate Romania's economy and discuss the economic objectives with the Romanian authorities.

Foreign investors bought more stocks on the Romanian stock market compared to the stocks they sold in the first five months of the year. The acquisition volume has reached EUR 167.9 million, according to the National Securities Commission (CNVM), while their sales reached EUR 148 million.

Around 67 percent of Romanians could cope for only three months with a 25 percent drop in salaries, according to a study released by the Institute of the Quality of Life. More than half of the Romanian population has issues in dealing with day to day needs (65 percent), while 61 percent live from one pay check to the other.

Romania's economy will drop by 1.5 to 2 percent this year, according to a recent estimation by Coface. Its previous prognosis pointed to an economic growth of 0.5 percent. “2010 is more difficult than 2009, this has become a certainty

The recent heavy rain has caused an increase in the Danube level, which threatens to damage a 4.5 km dam which is being built to protect Galati city. As many as 8,000 people live in the area which could be flooded if the dam is damaged, according to Cosmin Paun, mayor of the Galati county.

Romanian media, Sucu: Banks are killing lending to individuals – in Ziarul Financiar, NBR bosses' fortunes worth more than 17 million euros – in Ziarul Financiar, Prices of three-room apartments, down 9% in H1 – in Ziarul Financiar, Figures behind My Dream insolvency: 131 unsold apartments and 17m-euro debts – in Ziarul Financiar

IMF: Inflation could reach 7.9% this year, VAT hike impact on economic decline limited – in Ziarul Financiar

The new inflation target for Romania this year is of 7.9 percent, from a previous target of 3.5 percent before the VAT increase, according to the International Monetary Fund, which has recently approved a new loan installment for Romania. The IMF expects the high inflation to fade out during next year.

Sanoma Hearst Romania has bought the local website MagazinulDeCase.ro, which runs real estate classifieds posted directly by owners. The website was lauched in 2006 by several Romanian business people. The acquisition was made through Sanoma Digital Romania, which will continue to make acquit ions on the local online segment.

Romanian media

Ziarul Financiar:

Isărescu: Inflation to stop at 8%, hopefully exchange rate will help

After cars...

Several oil companies and consortia have won oil concessions in Romania following a bid organized by the state. Two consortia and a company have won three oil resources concessions in the Black Sea, the National Mineral Resources Agency has announced.

An International Monetary Fund (IMF) team will come to Bucharest on July 26 for the fifth revision of the stand-by agreement with Romania. The mission, which is expected to end on August 4, will evaluate Romania's economy and discuss the economic objectives with the Romanian authorities.

Foreign investors bought more stocks on the Romanian stock market compared to the stocks they sold in the first five months of the year. The acquisition volume has reached EUR 167.9 million, according to the National Securities Commission (CNVM), while their sales reached EUR 148 million.

Around 67 percent of Romanians could cope for only three months with a 25 percent drop in salaries, according to a study released by the Institute of the Quality of Life. More than half of the Romanian population has issues in dealing with day to day needs (65 percent), while 61 percent live from one pay check to the other.

Romania's economy will drop by 1.5 to 2 percent this year, according to a recent estimation by Coface. Its previous prognosis pointed to an economic growth of 0.5 percent. “2010 is more difficult than 2009, this has become a certainty

The recent heavy rain has caused an increase in the Danube level, which threatens to damage a 4.5 km dam which is being built to protect Galati city. As many as 8,000 people live in the area which could be flooded if the dam is damaged, according to Cosmin Paun, mayor of the Galati county.

Romanian media, Sucu: Banks are killing lending to individuals – in Ziarul Financiar, NBR bosses' fortunes worth more than 17 million euros – in Ziarul Financiar, Prices of three-room apartments, down 9% in H1 – in Ziarul Financiar, Figures behind My Dream insolvency: 131 unsold apartments and 17m-euro debts – in Ziarul Financiar

IMF: Inflation could reach 7.9% this year, VAT hike impact on economic decline limited – in Ziarul Financiar

The new inflation target for Romania this year is of 7.9 percent, from a previous target of 3.5 percent before the VAT increase, according to the International Monetary Fund, which has recently approved a new loan installment for Romania. The IMF expects the high inflation to fade out during next year.

Sanoma Hearst Romania has bought the local website MagazinulDeCase.ro, which runs real estate classifieds posted directly by owners. The website was lauched in 2006 by several Romanian business people. The acquisition was made through Sanoma Digital Romania, which will continue to make acquit ions on the local online segment.