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.

The International Monetary Fund board has approved the fifth loan installment for Romania on Friday and the EUR 900 million should reach the Romanian Central Bank (BNR) most likely on Monday, July 5, or Tuesday the latest, according to Mediafax newswire.

Romania's foreign currency reserves, deposited at the Romanian Central Bank (BNR) dropped by EUR 362 million in June, reaching EUR 31.98 billion, according to data from BNR. This is the second time in a row when BNR's forex reserves drop. In June EUR 792 million entered Central bank's coffers and EUR 1.15 billion of the reserve came out.

Romanian media: Pension budget runs 1bn-euro deficit after five months – in Ziarul Financiar, Bankers raise deposit interest rates to keep clients – in Ziarul Financiar,
NBR's forex reserve down in June for second month in a row – in Ziarul Financiar, 3,900 Romanians go to Greece on holiday weekly – in Ziarul Financiar, Just 5% of Romanians living in cities want to take out a loan – in Ziarul Financiar

The Romanian Central Bank (BNR) has kept the key interest rate at 6.25 percent, which is the minimum so far in Romania, as most analysts had forecasted. BNR has also kept the minimum mandatory reserves to RON passives at 15 percent, at at 25 percent for foreign currencies.

Foreign investors have expressed their concerns on the adoption and implementation of measures which impact the business environment and called for the involvement of the private sector in the decision-making process related to the economic sector, according to the Romanian American Chamber of Commerce (AmCham).

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.

The International Monetary Fund board has approved the fifth loan installment for Romania on Friday and the EUR 900 million should reach the Romanian Central Bank (BNR) most likely on Monday, July 5, or Tuesday the latest, according to Mediafax newswire.

Romania's foreign currency reserves, deposited at the Romanian Central Bank (BNR) dropped by EUR 362 million in June, reaching EUR 31.98 billion, according to data from BNR. This is the second time in a row when BNR's forex reserves drop. In June EUR 792 million entered Central bank's coffers and EUR 1.15 billion of the reserve came out.

Romanian media: Pension budget runs 1bn-euro deficit after five months – in Ziarul Financiar, Bankers raise deposit interest rates to keep clients – in Ziarul Financiar,
NBR's forex reserve down in June for second month in a row – in Ziarul Financiar, 3,900 Romanians go to Greece on holiday weekly – in Ziarul Financiar, Just 5% of Romanians living in cities want to take out a loan – in Ziarul Financiar

The Romanian Central Bank (BNR) has kept the key interest rate at 6.25 percent, which is the minimum so far in Romania, as most analysts had forecasted. BNR has also kept the minimum mandatory reserves to RON passives at 15 percent, at at 25 percent for foreign currencies.

Foreign investors have expressed their concerns on the adoption and implementation of measures which impact the business environment and called for the involvement of the private sector in the decision-making process related to the economic sector, according to the Romanian American Chamber of Commerce (AmCham).