Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Romanian unionists ended protests in capital Bucharest Wednesday, after having learnt the Government survived the opposition’s no-confidence motion in Parliament, and threatened to go on full-blown strike to have the Government ousted. Union leader Bogdan Hossu called on unionists to cease work every Monday until procedures for a full-blown strike are ready.

Local lender Banca Transilvania posted a gross profit of EUR 23.3 million, while its net profit for the first nine moths of the year stayed at EUR 16.2 million, up 44 percent on the same period of last months.

Romania’s centrist democrat liberal Government stays in office after surviving the opposition’s no-confidence motion, which received 220 votes in Parliament on Wednesday but required 236 votes to pass.

American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

Romania ranks mid-way, on the 51 spot, in this year’s Legatum Prosperity Index, which includes 110 countries, behind countries like Bulgaria, Tunisia, Panama and Trinidad and Tobago but above Mexico, Russia, South Africa or Turkey. The index takes into account a variety of factors including wealth, economic growth, personal wellbeing, and quality of life.

The number of protesters marching on the streets downtown Bucharest had reached 30,000 by noon, below the 80,000 figure previously announced by organizers. However, it is so far the largest street protest in Romania this year and organizers say the number will increase.

The renewable energy industry could attract investments of up to EUR 9 billion in Romania, considering the high potential on this market, according to Gabriel Sidere, managing partner with CMS Cameron McKenna Bucharest, who attended the "Green. The Future of Energy' conference in Bucharest.

The Romanian business scene witnessed several moves at the helm of both local and international companies this year. Romania-Insider.com looks at some of the most important top management changes in Romania in 2010. (Click MORE below to read the full story about the top management change)

Alina Cojocaru is a Romanian ballerina and one of the most acclaimed international stars. Often

Adrian Baicusi (in picture), the general manager of Romania’s state-run power grid operator Transelectrica (BVB ticker: TEL), will be replaced by Stelian Alexandru Gal, the former GM of the company, effective November 15, according to a news release sent to the Bucharest Stock Exchange (BVB).

Central European Media Enterprises, which owns several TV stations in Romania, posted USD 109 million in net revenues on the broadcast segment in the first nine months of the year, down USD 10.9 million on the same period of last year. The third quarter of the year meant net revenues of USD 29 million for the company in Romania, down USD 6.8 million on the third quarter of 2009.