Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romanian artist Berti Barbera and Nicu Patoi will perform in Fourteen Bar tonight, November 4 (14 Benjamin Frankin St. MAP ) from 21,00 hours. Entry tickets for the event cost RON 25

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

A group of Romanian investors is planning the first lake dwelling resort in Romania, in Berzasca, Caras Severin county, South West of Romania, local media has reported. The resort will include, among others 30 bungalows, two pools and restaurants on the Danube. The project, worth EUR 1.6 million, will be half financed by European funds.

A delegation of the European Parliament's Regional Development Commission is visiting Romania from November 3 until November 5 for an on-site assessment of the use of structural funds. The delegation will also visit project sites in Giurgiu, Arad and Timisoara.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

The British electro-pop boy duo Hurts, which was supposed to perform in Bucharest on November 11 at the Silver Church club, has delayed its Romanian concert for April 7, 2011. Changes in the band's schedule triggered the delay.

Romanian former Defense Ministry state secretary Dumitru Cioflina, former Defense Minister Victor Babiuc, the latter’s daughter, Ioana Babiuc, and football club Steaua owner George Becali (in picture) were indicted in a case regarding an exchange of land between the ministry and the businessman. The case was sent to the High Court of Justice, which has set the first trial date for January 18, 2011.

Romania's Central Bank (BNR) has revised upward its forecast on the 2011 annual inflation to 3.4 percent from a previous 3.1 percent, Romanian Central Bank governor Mugur Isarescu said Thursday.

Romanian telecom operator Romtelecom, owned by Greek OTE Group, posted an operating loss of EUR 13.9 million in the third quarter of 2010 and its revenues dropped by 6.5 percent, to EUR 181.5 million, because of austerity measures and rising unemployment.

Romanian artist Berti Barbera and Nicu Patoi will perform in Fourteen Bar tonight, November 4 (14 Benjamin Frankin St. MAP ) from 21,00 hours. Entry tickets for the event cost RON 25

Romania ranks 56th in the World Bank top of countries to do business in, down two positions from last year, according to the most recent Doing Business Report. Romania was outranked by countries like Botswana, Tunisia, Azerbaijan, Bulgaria, the Kyrgyz Republic.

A group of Romanian investors is planning the first lake dwelling resort in Romania, in Berzasca, Caras Severin county, South West of Romania, local media has reported. The resort will include, among others 30 bungalows, two pools and restaurants on the Danube. The project, worth EUR 1.6 million, will be half financed by European funds.

A delegation of the European Parliament's Regional Development Commission is visiting Romania from November 3 until November 5 for an on-site assessment of the use of structural funds. The delegation will also visit project sites in Giurgiu, Arad and Timisoara.

*The first bankrupt mall in Bucharest, City Mall, is up for sale – in Ziarul Financiar
*aggressive expansion when everybody fears, the strategy for German Drogerie Markt – in Ziarul Financiar
*State could cash in EUR 90 mln for minority stakes in E.ON Moldova – in Ziarul Financiar
*Room to grow on the pharma market: Teva doubles turnover – in Ziarul Financiar
*Bad news from Central Bank – inflation will exceed 8% – in Ziarul Financiar

IBM has been selected infrastructure provider for six Romanian organizations partnering on the Romania's National Computing Initiative (RoGrid), aimed at supporting national scientific projects. RoGrid selected IBM servers and storage in deals with a combined value of USD 1.4 million to support projects across the fields of medicine, environment and life sciences.

The British electro-pop boy duo Hurts, which was supposed to perform in Bucharest on November 11 at the Silver Church club, has delayed its Romanian concert for April 7, 2011. Changes in the band's schedule triggered the delay.

Romanian former Defense Ministry state secretary Dumitru Cioflina, former Defense Minister Victor Babiuc, the latter’s daughter, Ioana Babiuc, and football club Steaua owner George Becali (in picture) were indicted in a case regarding an exchange of land between the ministry and the businessman. The case was sent to the High Court of Justice, which has set the first trial date for January 18, 2011.