Drug producer Zentiva posted a net profit of around EUR 6.3 million in the first half of the year, three times higher than the figure registered in the same period of last year. The company's turnover stood at almost EUR 30 million, up 35.5 percent compared to the first six months of 2009.

Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues went down by 11 percent in the second quarter of the year, to EUR 178.7 million, while its EBITDA was 59 percent lower, to EUR 24.4 million.

Linda Griffin is the new general manager of the Athénée Palace Hilton Bucharest, the hotel has announced. She will start at the helm of the hotel on September 1st, following the departure of Friedrich W. Niemann. Niemann has been running the five-star hotel for the last five years.

Norway, Iceland and Lichtenstein (the European Economic Area – EEA) have signed an agreement to supply EUR 1.8 billion of non-reimbursable financing to 15 states in Central and Eastern Europe which are part of the EU, Romania included. The program will cover the 2009-2014 period and the financing will come from two programs – the EEA Financial Mechanism and the Norwegian Cooperation Program.

Local dairy maker Albalact saw its net profit decline by 14 percent, to around EUR 580,000, mainly due to the increase in the foreign exchange rate in June, which triggered double financial expenses. “The dairy market goes through a very tough period, due to the dramatic decline of the purchasing power, which puts pressure on prices. We will continue to expand our portfolio, the distribution and the client network and we will have new launches and new promotions,” said Raul Ciurtin, president and general manager of Albalact.

Romanian car brand Dacia, which is now being produced by French Renault, is the subject of a recent photo story published by Time magazine. Under the headline “The Dacia, the Romanian car that could”, Time magazine goes through the history of Dacia, calling it a 'cult classic'. “The car's design remained basically unchanged for 35 years, outlasting both the Ceaucescus and their Soviet masters,” writes Time.

The austerity measures taken by the Romanian government, which were initially announced to end in 2011, will have to be kept next year so that the country can achieve the targets it has agreed with the International Monetary Fund (IMF).

Romanian language lesson number 7 - Going shopping, useful words and expressions

If you want to see a bit of the wild Romania and discover the beauty of the Carpathian mountains, we could recommend a hand full of places to go. This week we'll take you to Moldova, in the Ceahlau and Hasmas mountain massifs. It is a trip you should make by car to fully enjoy it– rent one for a couple of days, if needed.

Always on the look out for something new and different on the local bar scene, I found The Gang Cafe and Lounge. Situated directly behind Floreasca fruit market on Calea Floreasca, it is perhaps not the best location for passing foot traffic, but if you are in the area, it is certainly worth looking for.

Drug producer Zentiva posted a net profit of around EUR 6.3 million in the first half of the year, three times higher than the figure registered in the same period of last year. The company's turnover stood at almost EUR 30 million, up 35.5 percent compared to the first six months of 2009.

Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues went down by 11 percent in the second quarter of the year, to EUR 178.7 million, while its EBITDA was 59 percent lower, to EUR 24.4 million.

Linda Griffin is the new general manager of the Athénée Palace Hilton Bucharest, the hotel has announced. She will start at the helm of the hotel on September 1st, following the departure of Friedrich W. Niemann. Niemann has been running the five-star hotel for the last five years.

Norway, Iceland and Lichtenstein (the European Economic Area – EEA) have signed an agreement to supply EUR 1.8 billion of non-reimbursable financing to 15 states in Central and Eastern Europe which are part of the EU, Romania included. The program will cover the 2009-2014 period and the financing will come from two programs – the EEA Financial Mechanism and the Norwegian Cooperation Program.

Local dairy maker Albalact saw its net profit decline by 14 percent, to around EUR 580,000, mainly due to the increase in the foreign exchange rate in June, which triggered double financial expenses. “The dairy market goes through a very tough period, due to the dramatic decline of the purchasing power, which puts pressure on prices. We will continue to expand our portfolio, the distribution and the client network and we will have new launches and new promotions,” said Raul Ciurtin, president and general manager of Albalact.

Romanian car brand Dacia, which is now being produced by French Renault, is the subject of a recent photo story published by Time magazine. Under the headline “The Dacia, the Romanian car that could”, Time magazine goes through the history of Dacia, calling it a 'cult classic'. “The car's design remained basically unchanged for 35 years, outlasting both the Ceaucescus and their Soviet masters,” writes Time.

The austerity measures taken by the Romanian government, which were initially announced to end in 2011, will have to be kept next year so that the country can achieve the targets it has agreed with the International Monetary Fund (IMF).

Romanian language lesson number 7 - Going shopping, useful words and expressions

If you want to see a bit of the wild Romania and discover the beauty of the Carpathian mountains, we could recommend a hand full of places to go. This week we'll take you to Moldova, in the Ceahlau and Hasmas mountain massifs. It is a trip you should make by car to fully enjoy it– rent one for a couple of days, if needed.

Always on the look out for something new and different on the local bar scene, I found The Gang Cafe and Lounge. Situated directly behind Floreasca fruit market on Calea Floreasca, it is perhaps not the best location for passing foot traffic, but if you are in the area, it is certainly worth looking for.