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Update 20:47, 19.08.2008 Romanian PM Sacks IT&C Regulator Head
BUCHAREST / 20:47, 19.08.2008 Romanian Prime Minister Calin Tariceanu sacked Tuesday the head of the authority regulating the communications and information technology sector ANRCTI, the government said. The prime minister signed Tuesday the decision dismissing Dan Cristian Georgescu from the position of president of... [related news and comments]

18:50, 19.08.2008 Romania Continues To Back Georgiaas Aspirations For NATO Membership
BUCHAREST / 18:50, 19.08.2008 Romanian Foreign Affairs Minister Lazar Comanescu said Tuesday within the extraordinary meeting of the North-Atlantic Council (NAC) that Romania continues to back Georgiaa€™s aspirations for NATO membership, which fully agree with the decisions of the Bucharest NATO Summit, the Romanian... [related news and comments]

17:46, 19.08.2008 Romanian Head Of EU Affairs Dept Dismissed On Incompatibility Of Office
BUCHAREST / 17:46, 19.08.2008 Romanian Premier Calin Popescu Tariceanu on Tuesday dismissed secretary of state Adrian Ciocanea-Teodorescu from his position as head of Department for European Affairs (DAE), over incompatibility of public offices, the government said in a press release. Last week, Ciocanea-Teodorescu... [related news and comments]

14:54, 19.08.2008 Romaniaas Former Transport Minister Pins Infrastructure Problems On PM
BUCHAREST / 14:54, 19.08.2008 The lousy stage of construction works on four major infrastructure objectives represents the personal failure of acting Prime Minister Calin Popescu Tariceanu, the countrya€™s former transport minister Radu Berceanu told a press conference Tuesday. Democrat liberal Berceanu said liberal... [related news and comments]

14:38, 19.08.2008 Romanian Social Democrats To Present Draft Amending Constitution Next Week
BUCHAREST / 14:38, 19.08.2008 Romaniaa€™s leftist opposition Social Democratic Party will draft a law amending the constitution, aiming to lift immunity for the head of state, members of government and lawmakers, and will present it next week, party leader Mircea Geoana said Tuesday. Geoana added legislative... [related news and comments]

14:06, 19.08.2008 Romanian Social Democrats Back Party Leaderas Move To Lift Immunity For Officials - Sources
BUCHAREST / 14:06, 19.08.2008 The standing office of Romaniaa€™s leftist opposition Social Democratic Party approved unanimously Tuesday the start of measures to ultimately result in lifting immunity of government members and lawmakers, people close to the matter told MEDIAFAX. The national standing office approved... [related news and comments]

11:54, 19.08.2008 Romaniaas Rompetrol Cut Diesel Oil Pump Prices By RON0.04/Liter
BUCHAREST / 11:54, 19.08.2008 Romaniaa€™s second-largest oil company Rompetrol Group NV, owned by Kazakhstan"s KazMunaiGaz, cut Tuesday its diesel oil pump prices by 0.04 lei (EUR1=RON3.5302) per liter, and kept gasoline prices unchanged, the company said in a statement. Rompetrol cut Tuesday its Efix Euro 4 diesel... [related news and comments]

Raiffeisen"s profit rises to 74 million euros - Azi
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Domestic car market advances beyond 2.2bn euros in 7 months - Azi
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Insurance market passes 1.2bn-euro mark in H1 - Azi
Comprehensive and auto liability insurance policies account for 75% of the general insurance market, with gross underwritten premiums worth 730m euros. The insurance market went beyond 4.42bn RON (1.2bn euros) in the first half of the year, up 22.3% against the same period last year, according to the data released by... [related news and comments]

Horia Ciorcila no longer interested in real estate market - Azi
Horia Ciorcila, the chairman of Banca Transilvania and one of the shareholders of Cluj-based refrigerating equipment manufacturer Tehnofrig, has decided together with the other shareholders of the company to sell a 11 hectare plot of land that belongs to the factory, to reduce exposure to the real estate market. "We... [related news and comments]

Imported gas to exceed $600/1,000 cubic metres - Azi
The Germans at E.ON Gaz Romania and the French at Distrigaz Sud are warning that the price of imported gas will reach as much as 600 dollars per 1,000 cubic metres in the fourth quarter compared with the current price of 500 dollars, which could cause consumer bills to go up by approximately 15%. The record prices... [related news and comments]

BCR AM gains top spot among fund managers - Azi
Stock market corrections have changed the ranking of mutual fund managers, and the only asset increases registered were driven by bond funds. The management units of the top five banking groups on the market are vying over more than 70% of a mutual fund industry worth 921 million RON, whilst the remaining 13 managers... [related news and comments]

Lactalis brings first French managers to LaDorna - Azi
French dairy producer Lactalis, which bought the LaDorna group from businessman Jean Valvis, has appointed its first expat managers to run its operations in Romania. The main positions targeted, along with the CEO position, are those in the production and financial department, according to information from the... [related news and comments]

Holcim: We raised prices by 10-12% this year - Azi
Holcim Romania, part of the Swiss Holcim group, has upped its cement prices by 10-12% since the beginning of the year, said the company"s general manager Markus Wirth. He added the sale price of the producers is not the same as offered on the market, given that some dealers take advantage of the areas with greater... [related news and comments]

Altex"s Ostahie ventures on banks" turf with personal loan product
Dan Ostahie, the majority shareholder of electrical and IT retailer Altex, plans to consolidate the company"s position on the non-bank financial sector through Credex by launching a "Personal Loan" product. Until the launch of the product, Credex was only offering funding for the acquisition of home appliances from... [related news and comments]

Top 50 agricultural companies manage 1bn euros" worth of land
Culita Tarata, Adrian Porumboiu, Mihai Anghel, Ioan Niculae, Stefan Poienaru, along with many foreign-held companies own the biggest farming businesses, reveals the ranking of the top 50 farming businesses released by Agentia de Plati si Interventii in Agricultura (Agency for Payments and Interventions in... [related news and comments]

Rising oil prices add 40% to top four players" turnover
Petrom, Lukoil, Rompetrol and MOL Romania, the top four players on the Romanian market, whose sales account for over 90% of all petrol and diesel oil sold domestically, posted record figures in the first six months of this year, after rising oil prices brought a 40% advance to the cumulated sales of the four... [related news and comments]

Manea: Working in a multinational compares to public red tape
The working system in multinational companies can be compared to the red tape that is specific to the state institutions, believes Dan Manea, who took over as HR head for Northern Europe of Novartis Pharma Services in April, a division of the Swiss pharmaceutical giant Novartis. "Working in a big organisation can be... [related news and comments]

Carabulea: Many are knocking at our door and I cannot but open it
"Many people are knocking at our door and I cannot but open it. You have no way of knowing whether talks will materialise in a business partnership or in the sale of a stake," Ilie Carabulea, the main shareholder of Banca Carpatica told ZF. He thus changes slightly the tone of his statements about a potential decision... [related news and comments]

Customers spend 22% more in City Grill restaurant chain
The higher prices for raw materials and especially rising purchasing power are driving a City Grill customer"s tab up by approximately 22% compared with last year. "We have successfully controlled the prices in the menu so as (the rise) will be below last year"s inflation and this year"s forecast of 8% and 10%... [related news and comments]

Parmalat bets on major clients to offset cost increase
The profit of Parmalat Romania, the producer of Santal juices, could resume a downward trend this year given the increase in the costs of the company and the slowdown of the market"s development pace. "The increase in fuel prices is a major problem and we do not want the increase in these costs to show in the shelf... [related news and comments]

TAROM makes more than 10m euros from charter flights
National company TAROM, whose business will reach some 290m euros (450m dollars) is making more than 10m euros from charter flights a year, and has contracts signed with both travel agencies and companies. "The share of charter flights in the turnover stood at more than 4% last year, with an increase expected for this... [related news and comments]

Online petition against Bucharest Challenge track choice
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Formula 3 event imposes traffic restrictions
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