Swedish retailer Ikea will drop prices by 12 percent on an average from the beginning of September, on over 4,000 products it sells in its Bucharest store. Ikea has launched the 2011 catalog, which will have 1,700 items with lower prices, according to the retailer.

Traffic will be closed down on Orhideelor St. for works at the Basarab passage, until September 15. The road section closed down starts from the Carrefour Orhideea retail center and goes until the intersection with Constantin Ghercu street.

Banks active in Romania don't expect a comeback in the lending activity in the following period, as the second quarter of the year brought along tougher lending conditions, found a survey by the Romanian Central Bank (BNR). However, mortgage loans will be the exception.

The six seats in the Fondul Proprietatea surveillance committee has attracted 13 candidates who have applied for six spots in the committee. While most of them have been openly linked to political ties, two come from the private sector. Radu Florescu, CEO of Saatchi & Saatchi and Sorin Mindrutescu (in picture), general manager of Oracle Romania and head of the American Romanian Chamber of Commerce (AmCham),according to local newspaper Ziarul Financiar.

Romania won three gold medals and a silver one at the world kayak canoe championship, whose final took place on Sunday at Poznan. The Romanian team made of Liviu Dumitrescu and Victor Mihalachi won the two gold medals in the canoe 500 m and 1000 m competitions. They have outrun the Russian and Belorussian teams. The two also took the fourth place in the 200 m competition. Victor Mihalachi is 22 years old while Liviu Dumitrescu, 23.

Mining company Rosia Montana Gold Corporation, which is trying to start the gold mining project in Rosia Montana, Romania, has taken 20 journalists on a trip to a gold mine in New Zealand. The local media has already commented on whether the journalists were supposed to accept the trip.

Romania exported tobacco products worth of EUR 118.7 million in the first four months of the year, according to statistics. The value of exports was 20.7 percent higher than in the same period of last year.

Highest paid executive placed by headhunters in 2010 earns 25,000 euros per month – in Ziarul Financiar, Raiffeisen top executives' bonuses delayed for three years – in Ziarul Financiar, Duster production exceeds half a billion euros in five months – in Ziarul Financiar, Multinational companies have increased salaries by 4.5 percent – in Ziarul Financiar, The story of Romanian champions who earn RON 1,500 a month – in Gandul, Romania takes out EUR 2 mln loans an hour. Government announces salaries will increase – in Gandul

Calendar of events for the period August 23-26

Local lender BCR has granted over 10,000 mortgage loans as part of the First House program so far, with the total financing exceeding EUR 420 million on this program. BCR, which started offering the First House loans in August last year, gave most of its loans in Bucharest – over 3,000 loans totaling EUR 150 million.

Swedish retailer Ikea will drop prices by 12 percent on an average from the beginning of September, on over 4,000 products it sells in its Bucharest store. Ikea has launched the 2011 catalog, which will have 1,700 items with lower prices, according to the retailer.

Traffic will be closed down on Orhideelor St. for works at the Basarab passage, until September 15. The road section closed down starts from the Carrefour Orhideea retail center and goes until the intersection with Constantin Ghercu street.

Banks active in Romania don't expect a comeback in the lending activity in the following period, as the second quarter of the year brought along tougher lending conditions, found a survey by the Romanian Central Bank (BNR). However, mortgage loans will be the exception.

The six seats in the Fondul Proprietatea surveillance committee has attracted 13 candidates who have applied for six spots in the committee. While most of them have been openly linked to political ties, two come from the private sector. Radu Florescu, CEO of Saatchi & Saatchi and Sorin Mindrutescu (in picture), general manager of Oracle Romania and head of the American Romanian Chamber of Commerce (AmCham),according to local newspaper Ziarul Financiar.

Romania won three gold medals and a silver one at the world kayak canoe championship, whose final took place on Sunday at Poznan. The Romanian team made of Liviu Dumitrescu and Victor Mihalachi won the two gold medals in the canoe 500 m and 1000 m competitions. They have outrun the Russian and Belorussian teams. The two also took the fourth place in the 200 m competition. Victor Mihalachi is 22 years old while Liviu Dumitrescu, 23.

Mining company Rosia Montana Gold Corporation, which is trying to start the gold mining project in Rosia Montana, Romania, has taken 20 journalists on a trip to a gold mine in New Zealand. The local media has already commented on whether the journalists were supposed to accept the trip.

Romania exported tobacco products worth of EUR 118.7 million in the first four months of the year, according to statistics. The value of exports was 20.7 percent higher than in the same period of last year.

Highest paid executive placed by headhunters in 2010 earns 25,000 euros per month – in Ziarul Financiar, Raiffeisen top executives' bonuses delayed for three years – in Ziarul Financiar, Duster production exceeds half a billion euros in five months – in Ziarul Financiar, Multinational companies have increased salaries by 4.5 percent – in Ziarul Financiar, The story of Romanian champions who earn RON 1,500 a month – in Gandul, Romania takes out EUR 2 mln loans an hour. Government announces salaries will increase – in Gandul

Calendar of events for the period August 23-26

Local lender BCR has granted over 10,000 mortgage loans as part of the First House program so far, with the total financing exceeding EUR 420 million on this program. BCR, which started offering the First House loans in August last year, gave most of its loans in Bucharest – over 3,000 loans totaling EUR 150 million.