Asesoft group, owned by Romanian investors Sebastian Ghita and Iulian Stanciu, has taken over the majority share package in IT&C retailer Flanco, the retailer has announced. The new owners will inject EUR 4 million into the retailer's capital in the following months, while banks will receive EUR 10 million in the following six months, according to Flanco's reorganization plans

The Romanian government plans to keep the flat tax rate unchanged at 16 percent at least until 2013, according to the country’s three-year fiscal strategy approved Wednesday. The document doesn't indicate whether the value added tax rate will be modified over the next three years. In July, the government raised the VAT to 24 percent from 19 percent to boost state revenues.

Eugen Voicu, founder of Aviva Investors, formerly named Certinvest, has redeemed the entire share package in the company from UK insurer Aviva, the majority shareholder. The company will be re-branded from November, when the deal will be finalized. The company manages EUR 17.7 million of assets.

*Romania could become the new growth vector in the East – in Ziarul Financiar
*Eugen Voicu redeems Aviva Investors and tries to re-launch it – in Ziarul Financiar
*IKEA wants to fuel the store in Baneasa with solar energy – in Ziarul Financiar
*Romtelecom will have 4-5 TV channels by year-end – in Ziarul Financiar
*Ghita from Asesoft to buy Flanco – in Ziarul Financiar

Kilpatrick Executive Search Romania grew the number of its consultants almost four-fold in the previous 12 months, the company has announced. With offices in Bucharest and Timisoara, the company has recently added a Talent Works International (TWI) business line to its office in Timisoara.

Romania’s capital city Bucharest ranks 69th among 73 cities worldwide according to the price levels, says a survey conducted by financial services firm UBS. New York, Geneva and Oslo are still among the most expensive cities worldwide, according to UBS classification.

Private clinic operator MedLife has leased an entire office building, Porumbaru Business Center, where it will relocate its head office, CB Richard Ellis Romania has announced. The building covers 1,200 sqm of office space. MedLife has also leased space in City Gate office building, where it will open a private clinic and a pharmacy, at the ground floor of the northern tower in City Gate (in picture).

Rompetrol Rafinare's shareholders Tuesday approved on principle the conversion into shares for the bonds the company failed to recover on account of Petromidia refinery's historic debt, the company announced.

Car maker Renault today inaugurates the Technical Testing Center in Titu, with a one-year delay on the deadline initially announced. Romanian president Traian Basescu will attend the opening ceremony, along with Renault's production director Patrick Pelata.

If it was not for an unavoidable trip out of Bucharest, I would be running in the Bucharest City Marathon this year. I am 28, a light smoker who's been trying to quit since forever, I rarely exercise, I sit at my desk for hours, sometimes walk instead of taking the bus or taxi, but not as much as I would like, I eat at crazy hours.

Hospice Casa Sperantei charity hopes it will reach more than 100 runners for its team in the Bucharest City Marathon, which will take place on October 17 in the Romanian capital city. This will be the biggest team Hospice has had for the marathon, almost three times bigger than least year's.

Leave your car at home and walk, bike or take the public transport on September 22, which will be