Telecom operator Cosmote grew its revenues by 6.3 percent in the second quarter of this year, to EUR 115 million, according to data announced by its mother company OTE. The revenues for the first half of the year reached EUR 229 million, up 9.7 percent on the first half of 2009.

The Nova Group, a company owned by Romanian businessman Dan Adamescu, has bought the 50 percent share package in Medien Holding, the publisher of Romania Libera newspaper, from German Waz, the company has announced. The Nova Group thus became the sole owner of the media group.

Bucharest week-end events August 6 –8: Salsa Festival, Soundtrack for Andy Warhol's Screen Tests

Seaside and mountain events, August 6-8

Movies this week-end: Salt, The Last Airbender, The Killing Jar

Mona-Lisa Caravaniez is the new managing director of Ogilvy&Mather Romania, after Gina Leu, the former MD, has chosen to take a sabbatical period.

Romanians would like to improve their work-life balance, found a recent study carried on by PricewaterhouseCoopers (PwC). 40 percent of Romanians say that in 10 years time they would like to enjoy a better work-life balance, while 28 percent state that they wish to be self-employed in the next decade, according to the 'Managing Tomorrow’s People' study.

Stuart Whent (in picture), the current managing director of BPP Professional Education in Romania, has been promoted to group director of operations for the Central and Eastern Europe. He will manage Romania, the Republic of Moldova, the Czech Republic, Hungary, Serbia, Croatia, Slovenia and Poland. He will oversee the activity of BPP Professional Education and of BPP University College.

The Romanian banking system is most likely to end 2010 posting a loss, believes Dominic Bruynseels, executive president of BCR (in picture), the biggest bank on the Romanian market. “It is pretty possible to end on loss due to the pressure we've been discussing, according to RAS (the local accounting standards),” said Bruynseels when asked whether he thinks the banking system will post a loss this year.

The Little People Romania association has started a campaign in Timisoara, under the “Poti si tu” (You can too) slogan, to increase awareness and ask Timisoara citizens to join the fight against child cancer.

Romanian businessman Gigi Becali would have to pay EUR 3.3 million worth of taxes for real estate deals carried on between 2004 and 2008, the Romanian fiscal authorities (ANAF) have established, according to Mediafax, quoting unnamed sources within ANAF. The EUR 3.3 million represent VAT and penalties.

Vodafone, one of the sponsors of the upcoming Guns N'Roses concet in Bucharest, will organize contests with prizes consisting of free tickets for the concert.