The tourist information touch screens, which have been installed in the Universitate passage earlier this year but have stayed in their factory wrapping every since are finally functional and have attracted tourists and locals alike. The multimedia equipments installed by the Bucharest City Hall in the passage include the touch screens, as well as interactive areas on the floor.

Swedish group Ikea, which has recently confirmed the acquisition of the Timpuri Noi industrial platform in Bucharest, says the group doesn't plan to build an Ikea store on the plot. The property was acquired by the group's real estate development division, Inter Ikea, for EUR 34.6 million.

Romanian media Retailers realize consumption revival is not without massive price cuts – in Ziarul Financiar, IKEA converts Timpuri Noi into apartments, offices and retail space – in Ziarul Financiar, Eight million Romanians have to insure their homes – in Ziarul Financiar, Alcatel Lucent hires another 200 engineers in Timisoara – in Ziarul Financiar, Schaeffler expects 100m euros higher turnover for Brasov plant – in Ziarul Financiar

The Blue Air group of companies has invested over EUR 800,000 in two self service restaurants in Sibiu and Bucharest, under the Self brand. The first such restaurant has been opened four months ago in Sibiu, while the one in Bucharest was opened on Wednesday (July 14) in Buzesti area of the capital city.

More companies decided to cancel their business activity in Romania in the first half of this year than in the same period of last year, according to data from the National Trade Registry (ONRC). There was a whooping six times increase in the number of firms which filed for voluntary cancellation of their business, to 118,000. The amount also includes automatic cancellations.

After a good first quarter which brought profits for banks in Romania, the local banking system posted a loss of around EUR 49 million after the first five months of the year, according to data from the Romanian Central Bank (BNR). BNR has centralized data from the banks active in Romania showing a cumulative loss in the sector, although in the first three months of the year it had a profit of nearly EUR 25 million.

The disposable income in Romania will drop by around 10 percent this year and by a further 0.8

This week as a change of scene I am commenting on a wine shop rather than a wine bar. Ethic Wines is an independent wine shop based opposite Floreasca fruit and vegetable market. The shop is owned and run by Cornel and Lucian, a pair of wine enthusiasts who appreciate the grape.

A recent comment run on a Financial Times blog depicts the Romanian Government as “at best dysfunctional and at worst incompetent”, while Romanian president Traian Basescu is described as “the country’s bull-in-a-chinashop president”.

Insurer Groupama Asigurari said it will pay around EUR 461,000 in damages following the flooding in

Texas-based Lufkin Industries will build its announced production unit in Romania within the Ploiesti West Park, where it bought a 33-hectare land plot from the owners Allianso Business Park, the company has announced. Belgian Alinso is the majority shareholder and developer of Ploiesti West Park.

The group of companies which includes airline company Blue Air will open the first restaurant under