Romania hasn’t met the end-September performance criteria on general government arrears and it will ask the International Monetary Fund for a new waiver of non-observance, IMF mission chief Jeffrey Franks said Friday. This will be the sixth waiver of non-observance on government arrears since Romania signed a EUR 13 billion loan agreement with the IMF in 2009.

Two days after a non-confidence vote failed to receive the needed number of votes in the Romanian Parliament, the Romanian opposition social democrats and liberals on Friday submitted a new no-confidence motion in Parliament against the Government. The Cabinet has sought the lawmakers’ vote of confidence to pass the education reform into law.

The European Bank for Reconstruction and Development (EBRD) has approved a EUR 80 million syndicated financing package to Expur, a Romanian oilseed processing company. The EBRD financing will support Expur’s strategy to contribute to the development of the rape meal and biodiesel markets in Romania

Romania will switch back to winter time or Eastern Europe Time early on Sunday, October 31st, with 04,00 hours turning into 03,00 hours. Switching to Eastern Europe Time will not change the train schedule, with the passenger trains to depart according to the official summer time by 04,00 hours, while those scheduled to depart after 04,00 will leave according to the official train schedule by observing the Eastern Europe Time, the CFR Railways Passenger Branch announced.

Mircea Sandu, the head of the Romanian Football Federation (in picture), is being investigated by the National Anti Corruption Body (DNA) on having allegedly received a bribe to cast a certain vote in supporting Poland and Ukraine to organize the European Championship in 2012.

An agency of Banca Transilvania situated in Timisoara was robbed Thursday night and EUR 16.000 was stolen from the bank’s safe, according to Mediafax newswire.

BCR, the largest Romanian bank by assets, controlled by the Austrian Erste Group, posted a net profit of RON 494.5 million (EUR 117.7 million) for the first nine months of this year, down by 29.3 percent on end-September 2009, according to BCR Group’s consolidated financial statements.

The European Bank for Reconstruction and Development (EBRD) Thursday revised upward its forecast for Romanian economy to minus 2 percent in 2010, from a contraction of 3 percent previously estimated, citing slightly improvements over recent months. In its latest economic outlook, the EBRD said Romania has managed to remain "on course" with its EUR 20 billion IMF-led program by implementing austerity measures that will keep the fiscal accounts under control.

*Franks, IMF: The Emergency Ordinance 50 is a must in order to get the next loan tranche – in Ziarul Financiar
*Carrefour found another EUR 60 million for local operations. Romanian retails start falling – in Ziarul Financiar
*Orange's revenues drop mainly on the prepay segment – in Ziarul Financiar
*The GP per capital will return to the 2008 level only in 2013 – in Ziarul Financiar
*Eximbank grows loans portfolio by 20% to EUR 118 million – in Ziarul Financiar
*100,000 Dacias with GPL – on Adevarul

The Romanian Government Thursday approved the legal framework to set up a national visa information system which will enable the country to connect to the European Union Visa Information System, said Government spokeswoman Ioana Muntean.

FRIDAY, October 29

19,00 hours Debate workshop, at Diverta – Plaza Romania, 26 Timisoara Blvd.

Movies opening this week-end:

The Social Network (trailer below)

with Jesse Eisenberg, Justin