A Chinese – Romanian public- private partnership will fuel the development of a EUR 500 million production units for cellulose and paper at the Somes Dej factory in Cluj – Napoca county. Chinese company Avic International Holding will partner SCR Romania, the majority shareholder in Somes SA Dej. The Romanian company will have to invest EUR 150 million into the project.

The new Microsoft Romania general manager, Roland Binkofski, says he plans to lead the Romanian subsidiary for at least three years but is still waiting to understand how things work with the local subsidiary and go into details in the business before making any important decisions, he said in an interview for local online publication Businesscover.ro.

Marky Ramone, the founder of the Ramones, a US punk rock band from the 70s, will be playing at the Silver Church Club in Bucharest on October 27 from 20,00 hours. The concert will also feature Michael Graves, former member of the Misfits. Romanian band ZOB will play the opening of the concert.

The Russian Film Festival kicks off on Friday, October 22 in Bucharest and will be on until October 28 at the Studio Cinema (MAP) and at the Cinemateca Eforie (MAP) in the capital city. The event is organized by the Romanian Cultural Institute (ICR) in partnership with the National Film Archives, the Cinema Union and the Mosfilm Studios.

Medium and large companies will submit their fiscal declarations for October online only, according to Romania's Fiscal Agency ANAF. The National Electronic System will allow tax payers to submit declarations 100, 101, 102, 120, 130, 300, 301, 390 and 710 from November 25. Find out where companies should submit those.

Romania’s potential new financing agreement with the International Monetary Fund will also include a loan accord with the European Commission, similar to the one signed in 2009, Romanian representative to the IMF, Mihai Tanasescu, said Thursday.

Movies in Bucharest cinema opening on October 22 and on screens until October 28; upcoming movies

Romania-insider.com has discovered two new Romanian bands you might want to check out. They are part of a new generation of young local artists who come up with songs and sounds of foreign inspiration– and yes, their songs are mostly in English (so far).

The Sensation dance event due for December 31st in Bucharest this year has been canceled due to issues related to the local promoter in Romania. “The local promoter in Romania is unable to meet the agreed financial and operational obligations. Therefore we are forced to withdraw Sensation Romania 2010/2011 from the event schedule,” according to an announcement on the Sensation website.

The European Commission has approved a EUR 124.3 million financing for the Arad – Timisoara highway from the EU's Cohesion Fund. The project includes a 44.5 km highway between Arad and Timisoara, out of which 12.25 km represent the Arad bypass. The highway segment is part of the 7th priority transport corridor which crosses Romania from Nadlac to Constanta.

Romanian authorities and representatives of the International Monetary Fund discussed Thursday about the privatization of Oltchim and Cuprumin, as well as stake sales in other state-owned energy companies, according to the Economy Ministry. The meeting included talks on company activity optimization, which would include stake sales, reorganization in view of privatization and the recapitalization of several companies, by drawing investment.

Two days after the VAT drop for basic products was mistakenly voted in the Romanian Parliament by the ruling party Democratic Liberal Party (PDL), including some of the ministers, the Government has asked the ministers to pay more attention to legislative initiatives. State secretaries will also be required to attend the parliamentary commission meetings where law projects related to their ministry will be debated, according to Mediafax newswire.