Telecom operator Vodafone has recently signed an agreement with local telecom dealer Fonomat, which used to be a dealer for competitor Orange until April this year and which will now become an exclusive Vodafone dealer. Fonomat, which runs 167 stores in Romania, will still run under its existing brand but will change the signage in its stores accordingly in the following period.

Fonomat's shareholder in private equity fund GED, which bought four GSM retail companies – Dasimpex, Plus GSM, GSM Land and Puls and re-united them under a new brand. Fonomat used to be the largest Orange dealer since April 2008.

The International Monetary Fund will evaluate Romania's economic performances as part of the ongoing stand-by agreement on its board meeting on June 28, according to the fund. The IMF board will decide whether Romania will get the fifth loan installment, pending on the implementation of the cost cutting measures the country has pledged to take. The state clerk salary and pensions cuts were among those measures. These cost cutting measures are expected to lead to a budget deficit of 6.8 percent of the GDP this year, higher than the previously agreed target of 5.9 percent.

Norwegian energy company Statkraft, which was looking for investment opportunities in Romania, has decided to pursue its investment plans elsewhere due to the unfavorable investment climate in Romania. Statkraft has chosen Albaine and Turkey for its up to EUR 1.3 billion investment projects, according to Mediafax quoting local company representatives.

Johann Lurf is the new president of Volksbank Romania, after having recently received the ok from the Romanian Central Bank (BNR). BNR has also given green light for Udo Birkner, who will be the bank's vice president.
Johann Lurf was named president of Volksbank in March this year, replacing Gerald Schreiner. Lurf used to head Volksbank's subsidiary in the Czech Republic. Schreiner had been at the helm of Volksbank Romania since 2006, after being the bank's VP for three years.

One of the early books, and for now, the first translated into English, of a wonderful Romanian writer, which was first published under the name “The Dream”- such a title as “Nostalgia” being unacceptable during Communism. The first edition also lacks an important short story, ”The Roulette Player”, for the same reasons of censorship. It also contains what is probably one of Cartarescu's best writings: REM.

Chinese tractor producer Hoyo has started to produce tractors in its factory in Rasnov, Brasov county in Romania. The first series of tractors will be finalized mid-July, at ccording to the company's executive director Denisa Vasilescu, quoted by Mediafax newswire. Production at the Hoyo factory was supposed to start in December last year, but was delayed due to issues in the production area.

'Sanzienele' is a Romanian tradition with pre-christian roots which is celebrated on June 24 – which coincides with the Orthodox holiday Ioan Botezatorul (St. John the Baptist). It is a midsummer tradition which celebrates nature and fecundity.

Sanzienele are also called Dragaica in some regions of the country (Muntenia, Oltenia). The word “sanziene” is also used for a plant with golden flowers, which are gathered into wreaths and placed in the house to protect the house and its inhabitants from evil spirits. The legend goes that Sanzienele are young girls who give their magical powers to flowers and herbs during this period.

Qatar Airways will launch four flights a week to and from Bucharest at the beginning of next year. The services will continue to Budapest, according to the airline. The launch is part of a wider European flights expansion for the Doha-based airline. Qatar Airways will also open new routes to Nice, via Milan, Brussels, as well as in Asia: in Thailand and in Veitnam.

MedLife, CMU and Medicover fighting for Euroclinic – in Ziarul Financiar

Unilever slips into the red – in Ziarul Financiar

Dan Diaconescu, officially accused of blackmail and threat – in Ziarul Financiar
Government preparing tax for banks – in Ziarul Financiar

Workers abroad send less money home, import demand on the rise – in Ziarul Financia

The Romanian state is cashing in just a third of the road taxes it should receive due to the lack of an efficient control system, according to the Transport Ministry. The annual road tax potential for the state would be of EUR 500 million, but the actual road tax payments cover only EUR 130 million. This is one of the reasons for which Romania has problems with repairing roads, according to Sorin Sirbu, head of the road transport direction with the Transport Ministry. The extra amounts would still not be enough to cover the required investments in Romania's road infrastructure without a proper budget.

Telecom operator Vodafone has recently signed an agreement with local telecom dealer Fonomat, which used to be a dealer for competitor Orange until April this year and which will now become an exclusive Vodafone dealer. Fonomat, which runs 167 stores in Romania, will still run under its existing brand but will change the signage in its stores accordingly in the following period.

Fonomat's shareholder in private equity fund GED, which bought four GSM retail companies – Dasimpex, Plus GSM, GSM Land and Puls and re-united them under a new brand. Fonomat used to be the largest Orange dealer since April 2008.

The International Monetary Fund will evaluate Romania's economic performances as part of the ongoing stand-by agreement on its board meeting on June 28, according to the fund. The IMF board will decide whether Romania will get the fifth loan installment, pending on the implementation of the cost cutting measures the country has pledged to take. The state clerk salary and pensions cuts were among those measures. These cost cutting measures are expected to lead to a budget deficit of 6.8 percent of the GDP this year, higher than the previously agreed target of 5.9 percent.

Norwegian energy company Statkraft, which was looking for investment opportunities in Romania, has decided to pursue its investment plans elsewhere due to the unfavorable investment climate in Romania. Statkraft has chosen Albaine and Turkey for its up to EUR 1.3 billion investment projects, according to Mediafax quoting local company representatives.

Johann Lurf is the new president of Volksbank Romania, after having recently received the ok from the Romanian Central Bank (BNR). BNR has also given green light for Udo Birkner, who will be the bank's vice president.
Johann Lurf was named president of Volksbank in March this year, replacing Gerald Schreiner. Lurf used to head Volksbank's subsidiary in the Czech Republic. Schreiner had been at the helm of Volksbank Romania since 2006, after being the bank's VP for three years.

One of the early books, and for now, the first translated into English, of a wonderful Romanian writer, which was first published under the name “The Dream”- such a title as “Nostalgia” being unacceptable during Communism. The first edition also lacks an important short story, ”The Roulette Player”, for the same reasons of censorship. It also contains what is probably one of Cartarescu's best writings: REM.

Chinese tractor producer Hoyo has started to produce tractors in its factory in Rasnov, Brasov county in Romania. The first series of tractors will be finalized mid-July, at ccording to the company's executive director Denisa Vasilescu, quoted by Mediafax newswire. Production at the Hoyo factory was supposed to start in December last year, but was delayed due to issues in the production area.

'Sanzienele' is a Romanian tradition with pre-christian roots which is celebrated on June 24 – which coincides with the Orthodox holiday Ioan Botezatorul (St. John the Baptist). It is a midsummer tradition which celebrates nature and fecundity.

Sanzienele are also called Dragaica in some regions of the country (Muntenia, Oltenia). The word “sanziene” is also used for a plant with golden flowers, which are gathered into wreaths and placed in the house to protect the house and its inhabitants from evil spirits. The legend goes that Sanzienele are young girls who give their magical powers to flowers and herbs during this period.

Qatar Airways will launch four flights a week to and from Bucharest at the beginning of next year. The services will continue to Budapest, according to the airline. The launch is part of a wider European flights expansion for the Doha-based airline. Qatar Airways will also open new routes to Nice, via Milan, Brussels, as well as in Asia: in Thailand and in Veitnam.

MedLife, CMU and Medicover fighting for Euroclinic – in Ziarul Financiar

Unilever slips into the red – in Ziarul Financiar

Dan Diaconescu, officially accused of blackmail and threat – in Ziarul Financiar
Government preparing tax for banks – in Ziarul Financiar

Workers abroad send less money home, import demand on the rise – in Ziarul Financia

The Romanian state is cashing in just a third of the road taxes it should receive due to the lack of an efficient control system, according to the Transport Ministry. The annual road tax potential for the state would be of EUR 500 million, but the actual road tax payments cover only EUR 130 million. This is one of the reasons for which Romania has problems with repairing roads, according to Sorin Sirbu, head of the road transport direction with the Transport Ministry. The extra amounts would still not be enough to cover the required investments in Romania's road infrastructure without a proper budget.