*IMF takes into account third year of economic drop for 2011 – in Ziarul Financiar
*Bancpost and Banca Romaneasca take EUR 15 mln from Avrig 35 – in Ziarul Financiar
*Praktiker had the biggest sales decline – down 25% after the VAT drop – in Ziarul Financiar
*Banks had to recover EUR 3.5 bln from clients – in Ziarul Financiar
*ProTV, USD 109 million turnover in nine months – in Ziarul Financiar

“Iasi is more than a former illustrious capital of Moldavia, within its walls art and national historical treasures dwell, such abundant treasures that no other city in today’s Romania possesses,“ wrote historian Nicolae Iorga. For most cultures known as Iassy, the main urban center in Nord-Eastern Romania, a former capital of Moldavia and later of Romania, this is today’s third largest city in Romania and the second largest university and cultural center.

Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Romanian unionists ended protests in capital Bucharest Wednesday, after having learnt the Government survived the opposition’s no-confidence motion in Parliament, and threatened to go on full-blown strike to have the Government ousted. Union leader Bogdan Hossu called on unionists to cease work every Monday until procedures for a full-blown strike are ready.

Local lender Banca Transilvania posted a gross profit of EUR 23.3 million, while its net profit for the first nine moths of the year stayed at EUR 16.2 million, up 44 percent on the same period of last months.

Romania’s centrist democrat liberal Government stays in office after surviving the opposition’s no-confidence motion, which received 220 votes in Parliament on Wednesday but required 236 votes to pass.

American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

Romania ranks mid-way, on the 51 spot, in this year’s Legatum Prosperity Index, which includes 110 countries, behind countries like Bulgaria, Tunisia, Panama and Trinidad and Tobago but above Mexico, Russia, South Africa or Turkey. The index takes into account a variety of factors including wealth, economic growth, personal wellbeing, and quality of life.

The number of protesters marching on the streets downtown Bucharest had reached 30,000 by noon, below the 80,000 figure previously announced by organizers. However, it is so far the largest street protest in Romania this year and organizers say the number will increase.

The renewable energy industry could attract investments of up to EUR 9 billion in Romania, considering the high potential on this market, according to Gabriel Sidere, managing partner with CMS Cameron McKenna Bucharest, who attended the "Green. The Future of Energy' conference in Bucharest.

*IMF takes into account third year of economic drop for 2011 – in Ziarul Financiar
*Bancpost and Banca Romaneasca take EUR 15 mln from Avrig 35 – in Ziarul Financiar
*Praktiker had the biggest sales decline – down 25% after the VAT drop – in Ziarul Financiar
*Banks had to recover EUR 3.5 bln from clients – in Ziarul Financiar
*ProTV, USD 109 million turnover in nine months – in Ziarul Financiar

“Iasi is more than a former illustrious capital of Moldavia, within its walls art and national historical treasures dwell, such abundant treasures that no other city in today’s Romania possesses,“ wrote historian Nicolae Iorga. For most cultures known as Iassy, the main urban center in Nord-Eastern Romania, a former capital of Moldavia and later of Romania, this is today’s third largest city in Romania and the second largest university and cultural center.

Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Romanian unionists ended protests in capital Bucharest Wednesday, after having learnt the Government survived the opposition’s no-confidence motion in Parliament, and threatened to go on full-blown strike to have the Government ousted. Union leader Bogdan Hossu called on unionists to cease work every Monday until procedures for a full-blown strike are ready.

Local lender Banca Transilvania posted a gross profit of EUR 23.3 million, while its net profit for the first nine moths of the year stayed at EUR 16.2 million, up 44 percent on the same period of last months.

Romania’s centrist democrat liberal Government stays in office after surviving the opposition’s no-confidence motion, which received 220 votes in Parliament on Wednesday but required 236 votes to pass.

American hard rock band Bon Jovi will hold a concert in Bucharest on July 10, 2011, according to the band’s official site, bonjovi.com.

Romania ranks mid-way, on the 51 spot, in this year’s Legatum Prosperity Index, which includes 110 countries, behind countries like Bulgaria, Tunisia, Panama and Trinidad and Tobago but above Mexico, Russia, South Africa or Turkey. The index takes into account a variety of factors including wealth, economic growth, personal wellbeing, and quality of life.

The number of protesters marching on the streets downtown Bucharest had reached 30,000 by noon, below the 80,000 figure previously announced by organizers. However, it is so far the largest street protest in Romania this year and organizers say the number will increase.

The renewable energy industry could attract investments of up to EUR 9 billion in Romania, considering the high potential on this market, according to Gabriel Sidere, managing partner with CMS Cameron McKenna Bucharest, who attended the "Green. The Future of Energy' conference in Bucharest.