A new International Monetary Fund (IMF) mission which will review Romania's economic performances will come to Bucharest on October 20 and stay until the beginning of November, according to Mihai Tanasescu, Romania's representative to the IMF, quoted by Agerpres.

The recent toxic spill in Hungary, which threatens to spread along the Danube river and endanger ecosystems, has triggered worries about Romania's own sledge beds, some of which have yet to be properly taken care of after the end of industrial activities in certain areas of the country. There are 17 such toxic residues deposits in Romania, according to local newspaper Ziarul Financiar, the biggest of these sludge bed being owned by Minvest Deva, with 290 hectares in total in Hunedoara, Harghita, Alba and Cluj.

Octogon Gas & Logistics received a EUR 9.4 million financing from Banca Transilvania to build the largest Liquefied Petroleum Gas (LPG) marine terminal in the Midia – Navodari harbor. The terminal was scheduled to officially open on Thursday, October 7. The project took around a year to be completed.

Romania needs to regain the trust of foreign investors and avoid a third year of economic crisis in the country, said Mariana Gheorghe, Petrom CEO and head of the Foreign Investors Council (FIC) in Romania. The council has launched a 80-measure plan to send Romania back on the economic revival path. The council estimates such measures could allow the country grow its Gross Domestic Product (GDP) by 11.6 percent, should these measures be applied by 2015.

Movies on screens in Bucharest during the period October 8-14 2010

The local retail market was down 12 percent in the first half of the year, according to Nielsen Romania. The drop was higher – 15 percent - excluding the sales of discount stores. Traditional trade was the most affected, but still covered the bulk of the market in Romania, although hypermarkets and discounters have gained more ground in the meantime.

Romania plans to support young investors who will start a business by offering them state guarantees, as well as exemptions from social security payment and a state aid of 20 percent of the value of their projects, up to EUR 10,000. The Romanian Government has put up for public debate the ordinance project and plans to enact it later on.

With coal, gas, nuclear and large hydropower plants largely under state control, investors have found it hard to tap the European Union (EU) member state's energy market as successive governments have stalled reforms, privatizations and public-private partnerships, wrote newswire Reuters in a recent analysis about the Romanian wind projects market.

Ilinca Paun has been promoted managing director with Colliers International in Romania. She will coordinate the company's commercial and administrative activities, including sales, marketing, market research. Paun has been working in sales and management with Colliers for the last ten years.

UPDATE: Romanian Environment Minister Laszlo Borbely said the toxic residues from Hungary have not reached the Danube yet and when they will, on Friday evening, they will not be dangerous. “It is not true. I have spoken with the head of Hungarian Waters last night, who said the authorities there have built a dam to stop the toxic residues from spreading. The residues have not reached the Danube and when they will, they will not be dangerous,” said Borbely for a Romanian TV station.

A new International Monetary Fund (IMF) mission which will review Romania's economic performances will come to Bucharest on October 20 and stay until the beginning of November, according to Mihai Tanasescu, Romania's representative to the IMF, quoted by Agerpres.

The recent toxic spill in Hungary, which threatens to spread along the Danube river and endanger ecosystems, has triggered worries about Romania's own sledge beds, some of which have yet to be properly taken care of after the end of industrial activities in certain areas of the country. There are 17 such toxic residues deposits in Romania, according to local newspaper Ziarul Financiar, the biggest of these sludge bed being owned by Minvest Deva, with 290 hectares in total in Hunedoara, Harghita, Alba and Cluj.

Octogon Gas & Logistics received a EUR 9.4 million financing from Banca Transilvania to build the largest Liquefied Petroleum Gas (LPG) marine terminal in the Midia – Navodari harbor. The terminal was scheduled to officially open on Thursday, October 7. The project took around a year to be completed.

Romania needs to regain the trust of foreign investors and avoid a third year of economic crisis in the country, said Mariana Gheorghe, Petrom CEO and head of the Foreign Investors Council (FIC) in Romania. The council has launched a 80-measure plan to send Romania back on the economic revival path. The council estimates such measures could allow the country grow its Gross Domestic Product (GDP) by 11.6 percent, should these measures be applied by 2015.

Movies on screens in Bucharest during the period October 8-14 2010

The local retail market was down 12 percent in the first half of the year, according to Nielsen Romania. The drop was higher – 15 percent - excluding the sales of discount stores. Traditional trade was the most affected, but still covered the bulk of the market in Romania, although hypermarkets and discounters have gained more ground in the meantime.

Romania plans to support young investors who will start a business by offering them state guarantees, as well as exemptions from social security payment and a state aid of 20 percent of the value of their projects, up to EUR 10,000. The Romanian Government has put up for public debate the ordinance project and plans to enact it later on.

With coal, gas, nuclear and large hydropower plants largely under state control, investors have found it hard to tap the European Union (EU) member state's energy market as successive governments have stalled reforms, privatizations and public-private partnerships, wrote newswire Reuters in a recent analysis about the Romanian wind projects market.

Ilinca Paun has been promoted managing director with Colliers International in Romania. She will coordinate the company's commercial and administrative activities, including sales, marketing, market research. Paun has been working in sales and management with Colliers for the last ten years.

UPDATE: Romanian Environment Minister Laszlo Borbely said the toxic residues from Hungary have not reached the Danube yet and when they will, on Friday evening, they will not be dangerous. “It is not true. I have spoken with the head of Hungarian Waters last night, who said the authorities there have built a dam to stop the toxic residues from spreading. The residues have not reached the Danube and when they will, they will not be dangerous,” said Borbely for a Romanian TV station.