The value of loans granted by banks to individuals and companies (the non-governmental loans) went up by 1.4 percent in May this year compared to the month before. The increase compared to May last year was of 2 percent. The governmental loans went up by as much as 60 percent in May this year compared to May last year.

French retailer Carrefour will open its fourth Carrefour Market supermarket in Bucharest tomorrow (Friday, June 25th) in Ghencea area of the city. The store covers 1,200 sqm and is located within Home & Design Mall. This is the second supermarket opening for Carrefour in Bucharest this week, after another store opened on Panduri street, a 700 sqm unit.

Jairaj Amin, the managing director of Deutsche Pfandbriefbank’s European syndication department, is understood to be leaving to work with Romanian billionaire entrepreneur Dinu Patriciu, according to a recent article run by propertyweek.com. “Amin is thought to be leaving to work with Romania’s richest man, the entrepreneur Dinu Patriciu. It is not clear yet what Amin’s role will be,” according to the publication.

Energy Financing Team (EFT) will supply energy to Stirom factory in Bucharest and the Lukoil refinery in Ploiesti, after having recently signed a contract with the two companies. Stirom has an annual consumption of 45GWh, while the Lukoil refinery, of 200GWh. EFT has also recently signed an energy supplying contract with cement producer Holcim for all its factories in Romania.

„Welcome to Romania!” or – better said - „Bun venit în România!” You like our town

Lidl rents out offices for 250 employees in Pipera – in Ziarul Financiar
e-Romania project will swallow another EUR 84 million initially destined to telecom operators - in Ziarul Financiar
Stem-Health shareholders want to create a transplant center with EUR 10 million – in Ziarul Financiar
Sanofi-Aventis, hunting for pharma products - in Ziarul Financiar

Caffe Pascucci is located on Calea Dorobanti 152, about 500 metres from the main shops in Dorobanti. It has a very modern feel with state of the art furnishings and an interior colour scheme of black and white through out. This theme continues outside onto the very wide pavement with tables and chairs laid out to watch the world go by.

The Romanian Government approved in its meeting earlier today (June 23rd) the emergency ordinance which expands the taxation base, according to Mediafax, quoting sources within the Government. The ordinance includes taxes for meal vouchers, gift and holiday vouchers starting July 1st this year. This is when the deductible expenses quota for intellectual property rights will go down to 20 percent of the gross revenues, half of the current quota. Revenues from gambling (including revenues from the lottery) will be taxed by 25 percent.

Media owner and journalist Dan Diaconescu has been taken into police custody for 29 days after having been accused of blackmail and threat by the Romanian Anti Corruption Body (DNA).

Dan Diaconescu, who owns OTV TV station, was accused of blackmailing and threating the mayor of Zarand locality in Arad county, Ion Mot. Diaconescu was previously a witness in a file submitted by Ion Mot against OTV anchor Doru Parv. Parv and Diaconescu had allegedly asked for EUR 200,000 not to broadcast compromising footage for Ion Mot. According to DNA, Mot has paid EUR 30,000 of this amount.

Former Economy minister Codrut Seres, member of the Conservative Party (PC) is the new president of media companies Antena 1 SA and Intact Production SA, according to Mediafax newswire. Seres is also a member of the board of Antena 3 SA. Seres has a four-year mandate at Antena 1 SA and joins other four members of the board: Sorin Oancea, George-Sorin Alexandrescu, Pompiliu-Sorin Stoian and Gabriel-Cristian Arsene.

A recent article published in the Financial Times points out the severe austerity measures which will be taken by the Romanian government and the social response to these measures, by comparison to EU standards. “Romania's austerity measures are severe, even by current European Union standards: a 25 per cent pay cut for the country's 1.4m public sector workers, 200,000 civil service job cuts, and a 15 per cent reduction in pensions and unemployment benefits,” writes the Financial Times.

Romanian media

Bechtel and Enka, EUR 800 mln revenues, EUR 60 mln profits for 42 km of highway - in