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Business, page 3

• Tarom offers discounts to Malev passengers
  Passengers who have unused Malev tickets can get a 15 per cent discount on flight tickets with Romanian state-owned Tarom company, a spokesperson said [...]
• Romania's industrial output up
  Romania's industrial output increased by 15.6 per cent in 2011, the National Statistics Institute (INS) said today (Weds). [...]
• Central bank hikes inflation prognosis
  Romania's Central Bank Governor Mugur Isarescu said today (Tues) the central bank had hiked the inflation prognosis from 3 per cent to 3.2 per cent in [...]
• Millions of Euro losses per day due to snowy roads
  Losses of as much as 100 million Euros per day are estimated by the Associtation of Importers and Exporters in Romania (ANEIR), due to the weather con [...]
• AA introduces new flights from Bucharest to Vienna
  Austrian Airlines (AA) announced today (Tues) that it would increase the number of flights from Romania in the summer season. [...]
• Wizz Air fills bankrupt Malev's shoes
  Low cost airliner Wizz Air announced today (Fri) it would start a new route Bucharest - Budapest, after Hungarian state-owned company Malev suspended [...]
• Bosch starts 77 mn Euro investment in Romania with state aid
  German automotive components producer Bosch will invest 77 million Euros in a new production facility in Jucu, Cluj county, northwestern Romania, Roma [...]
• Real estate transactions down
  Investments in real estate in Romania dropped by 13 per cent in 2011, down to 262.9 million Euros, a report by European Investment Market Update by DT [...]
• Higher profit for Banca Transilvania
  Romanian bank Banca Transilvania announced today (Weds) higher profits in 2011, compared to the previous year. [...]
• Ford launches new model at Geneva Motor Show
  Ford Romania officially announced today (Weds) that the new model B-Max had gone into series production at the Craiova plant, in southern Romania. [...]
• Bureaucracy cut amid protests
  Romania cuts down bureaucracy and allows a new firm to be set up in three days, Prime Minister Emil Boc said yesterday evening (Mon). [...]
• Insurer Aviva sells Romanian subsidiary to MetLife
  British insurance company Aviva announced today (Mon) the sale of the Romanian, Czech Republic and Hungarian businesses. [...]
• IMF chief says economic growth not enough for wage rises
  Jeffrey Franks, chief of the International Monetary Fund (IMF) mission to Romania, said today (Mon) in Bucharest that if the wages rose, employers wou [...]
• New mortgage loan rules come into effect
  A new code on rules for loans, imposed by the Romanian National Bank (BNR), is coming into effect on Tuesday. [...]
• De'Longhi opens plant in Romania
  Home appliances producer De’Longhi will buy the former Nokia plant in Cluj county, northwestern Romania, after the mobile phone producer shut it down [...]
• Ford starts B-Max production in Romania
  Auto maker Ford announced today (Weds) it would produce around 45,000 to 50,000 units of the B-Max model, at the plant in Craiova, southern Romania. [...]
• Romanians save more money in banks
  The population's bank deposits increased by 12.1 per cent in December last year, compared to the same month a year ago, according to central bank data [...]
• The private sector recovers
  Nearly 20,000 Romanian firms entered insolvency last year, ten per cent less than a year earlier, according to the Trade Registry data. [...]
• EBRD estimates Romania's economic growth to slow down in 201
  The European Bank for Reconstruction and Development (EBRD) lowered its prognosis for Romania's economic growth this year, from 1.1 per cent to 0.8 pe [...]
• Metro opens online store in Romania
  German supermarket chain Metro Cash & Carry announced it had opened an online store in Romania, this being a premiere for supermarkets in Romania. [...]
• Automobile market down
  The Romanian car market dropped by 7.4 per cent last year, new statistics out today (Mon) show. [...]
• Romania sued at ECHR by British fund over 19-storey building
  A company is suing Romania at the European Court of Human Rights after a Romanian court decided for one of its building to be demolished. [...]
• Banca Transilvania appoints new CEO after Rekkers unexpected
  Romanian bank Banca Transilvania announced today (Fri) it had appointed Peter Franklin as interim general manager, after Robert Rekkers unexpectedly r [...]
• Romania wants to adopt Euro in 2015
  Romania maintains its target to adopt the unique European currency in 2015, said President Traian Basescu on Thurday. [...]
• Romgaz manager suspended
  The general manager of the state-owned gas producer Romgaz was suspended from his position during a criminal investigation. [...]
• Coface grades B to Romania in country risk assessment
  Romania's country risk quantification was kept at B, which indicates an instable political and economical environment, Coface said today (Weds). [...]
• Dacia Renault reduced boom sales in 2011
  Romanian car make Dacia, a Renault company, sold 343,233 units last year, company officials said today (Tues). [...]
• Foreign direct investments drop by a third
  Total direct foreign investments in Romania amounted up to 1.63 billion Euros in the first 11 months last year, the central bank said on Friday. [...]

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
The UK Ambassaodr in Romania, Martin Harris says Victor Ponta’s new government got off on the right foot by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF.

Carmen Sylvas x-rayed hand to be auctioned
A x-ray of the left hand of Romanian Queen Elisabeta will be auctioned in Bucharest by Artmark auction house, Libertatea newspaper informs today (Tue).

Rising handbal player hangs herself because of family quarels
A rising star of the Romanian handball was found hanged on Sunday (yesterday) in her family apartment in Drobeta Turnu Severin (South West), Romania TV news channel informs today.

Triumphant welcome in Bucharest for the national gymnastic team
The national team of gymnasts returned home today at noon from the European Championship held on Saturday and Sunday in Brussels, and was welcomed by a numerous crowd at the Henri Coanda International Airport in Bucharest.

Sorin Oprescu to win in a landslide, poll suggests
An opinion poll released today (Mon) makes the current Mayor Sorin Oprescu favourite for the Bucharest municipal elections, Realitatea TV news channel informs.