A recent report from the European Commission on the reforms in the judiciary system points out several shortcomings of the Romanian system while praising Bulgaria. The Commission has asked Romania to correct the weaknesses urgently so that it can go back on track with the reform process.

The Hard Rock Cafe is a global institution in the bar and restaurant world; loved by many, but not by all. The first was opened in London’s Mayfair in 1971 by two Americans, Peter Morton and Isaac Tigrett, and there are now 149 Cafes around the world in 53 countries. The one in Bucharest opened its doors three years ago in a great location by the lake in Herestrau Park.

The effects of the breakdown of negotiations between the International Monetary Fund and Hungary, which were visible on the country's monetary and financial market, could become contagious for other countries in the region, warned Thomas Mirow, head of the European Bank for Reconstruction and Development. Hungarian currency forint went down 3 percent the day after the new broke.

The International Centre for Settlement of Investment Disputes (ICSID) in Washington has decided to close the claim opened by S&T Oil Equipment and Machinery against Romania, Tuca, Zbarcea & Asociatii has announced. The decision was due to the fact that S&T Oil Equipment and Machinery had not paid the required arbitration expenses, so the court has closed the case.

David Nicholl started off as a salesman with Schneider Electric' industrial division 13 years ago. Before coming to Romania to head the local subsidiary in 2006, he was already heading the industrial division in UK. With him, it's about setting goals, even smaller ones to achieve a bigger target. And it's also about having the right attitude in life. Romania Insider has talked to David Nicholl about his career, sports and goals.

As many as 189 new multinational companies will emerge out of Romania in the following 15 years, according to a recent PricewaterhouseCoopers LLP (PwC) report. Romania will reach a similar level as Ukraine, with 192 new multinational companies in the next 15 years and Hungary, with 221.

The American Chamber of Commerce in Romania (AmCham Romania), which has recently organized a round table on labor issues, has asked for a sound education system, connected to the economic and social realities. “This will ensure a competitive human capital, able to deal with the changes of a changing economy and more sophisticated demands regarding performance and competence standards,” writes the AmCham in a statement.

Romania celebrates the Romanian Aviation and Romanian Air force Day on July 20. Military and religious ceremonies will take place on Tuesday morning, starting 9,00 hours, in Aviatorilor square, at the Air Heroes monument.

Telecom operator Orange Romania a and IAB Romania organize a new edition of the Online MeetUp event on Wednesday, July 21, focusing on e-mail marketing. The main speaker at the event will be Mike Teasdale, consultant with Econsultancy and Managing Director with Harvest Digital.

Israeli developer Euro Habitat, which has been working on the Planorama residential projects in Bucharest, has entered insolvency at the end of June, according to Ziarul Financiar.
Euro Habitat, told the buyers of apartment in Planorama that the company was not asked to participate in court when the insolvency was decided.

Romanian media

Planorama enters insolvency- in Ziarul Financiar

Patriciu builds office building

The Romanian Orthodox Church celebrates prophet Ilie on July 20. One of the most important prophets in the Old Testament, Saint Ilie is celebrated as a miracle worker and the one that brings rain during a drought period. This is also the period when the Maiden Fair on Gaina mountain takes place.