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ZF - ZF English (12.03.2010 01:30h): Billionaire Puiu Popoviciu sells IKEA

Businessman Puiu Popoviciu has sold the IKEA operations in Romania to Swedish IKEA group in a very discreet deal, worth more than 30 million euros, industry sources told Ziarul Financiar. The deal was signed several days ago and all parties were “satisfied”, the sources said. [Link] [Cache]

Yahoo! representative in Romania (12.03.2010 01:03h): We are growing for sure

Advertising sales of giant Yahoo! will definitely rise this year in Romania, with encouraging results being recorded in the first two months of 2010, say representatives of Media Cafe, a company founded in 2006, the only seller of advertising on the platforms of the American company on the Romanian market. [Link] [Cache]

ZF - ZF English (12.03.2010 01:02h): South Africans buy Auchan and Bricostore spaces in Pitesti

At a time when retailers and owners of shopping centres are complaining about a sales decline, South African-held NEPI made a second acquisition in five months, taking over Auchan and Bricostore spaces in Pitesti. [Link] [Cache]

Anti-crisis programme unveiled (12.03.2010 00:54h): easier debt repayment, VAT compensation

The new anti-crisis programme has been unveiled by the Government, but it is still a “draft”, at least that is what official statements suggest, but a few main directions emerge: the investment fund for the relaunch of the economy will be separate from the budget; companies will first pay the principal of an overdue debt to the budget, the number of fiscal statements will be reduced, and a new mechanism will be introduced, to compensate for the VAT owed to the state. [Link] [Cache]

Energy Regulatory Authority (12.03.2010 00:52h): Price of domestic gas does not have to match import price

The Romanian Energy Regulatory Authority ANRE says matching the price of natural gas produced domestically with that of imported gas is not an obligation imposed to Romania by the European Commission, with prices of the two local producers, Petrom and Romgaz, being twice as low as the import price. [Link] [Cache]

ZF - ZF English (12.03.2010 00:51h): Ford made four vehicles a day in Craiova in first five months

Ford Romania, the second-largest auto maker on the Romanian market, manufactured 358 Transit Connect commercial vehicles from the official start of production in September until the end of January, which means an average of four vehicles per day, i.e. 300 times less than the Dacia plant. [Link] [Cache]

Saramet, FNGCIMM (12.03.2010 00:50h): Some banks irrationally asked for funding caps for First Home 2

16,500 Romanians have so far bought homes worth 803m euros, with state guarantees. [Link] [Cache]

ZF - ZF English (12.03.2010 00:49h): Finance Ministry sells 1bn euros’ worth of eurobonds at 5% interest

The Finance Ministry placed 1 billion euros’ worth of five-year eurobonds at a 5.17% yearly yield on the international market yesterday, an issue analysts deem as “a success” considering subscription demand for almost 5 billion euros. [Link] [Cache]

ZF - ZF English (12.03.2010 00:48h): H&M in advanced talks with Plaza Romania mall

H&M Hennes & Mauritz one of the most popular clothing retailers in the world, whose business reaches 10 billion euros a year, is in advanced talks with Anchor Group, the developer of the two important malls in Bucharest, Plaza Romania and Bucuresti Mall, and is supposed to open at least one store this year, sources on the market say. [Link] [Cache]

ZF - ZF English (12.03.2010 00:48h): Six Ethos stores become Chilipir Shop

The company that took over Ethos network stores from Bucharest businessman Ion Soloman is set to turn six supermarkets into Chilipir Shop “Bargain Shop” i.e. apparel outlets, with the first of them to be opened today in Targoviste. [Link] [Cache]

ZF - ZF English (12.03.2010 00:47h): Bancpost posts over 73m-euro loss in line with RAS

Bancpost, the Romanian subsidiary of EFG Eurobank Greek group, ended last year with a net loss of over 73m euros in line with Romanian accounting standards RAS . [Link] [Cache]

ZF - ZF English (12.03.2010 00:46h): MKB Romexterra narrows losses to 15m euros

MKB Romexterra, a small player indirectly held by Germany's Bayern LB group, last year posted net losses of 40.3m RON 9.5m euros , down 39% from the 2008 loss. Calculated in euros, the loss was half the previous year's one. [Link] [Cache]

ZF - ZF English (12.03.2010 00:45h): Old car scrappage vouchers are on the market, but sales are not moving

The impact of this year's “Rabla” old car scrappage scheme programme has not yet been felt by car importers as most clients are waiting until they get three vouchers, according to Catalin Manta, sales and marketing manager of Chevrolet Romania, a unit of General Motors Southeast Europe. [Link] [Cache]

ZF - ZF English (12.03.2010 00:45h): Surprise change at Albalact

Traian Simion, general manager of Albalact dairy producer, announced his withdrawal from the company, after he bought 1.6% in stock from Raul Ciurtin last week. [Link] [Cache]

BBC News and Sport Search: romania (11.03.2010 12:33h): What the papers say

A look at what's making the headline in Tueasday's morning newspapers. [Link] [Cache]

Companies (11.03.2010 01:11h): There’s life after insolvency. Consultants: Don’t rely on banks

Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from banks. [Link] [Cache]

ZF - ZF English (11.03.2010 01:10h): Fabryo expects to boost market share this year

Varnish and paint producer Fabryo Corporation, held by investment fund Oresa Ventures, intends to boost its market share to 25% this year, compared with just over 20% in 2009. [Link] [Cache]

ZF - ZF English (11.03.2010 01:09h): Who's vying for the most eagerly awaited infrastructure project, the tube in Drumul Taberei?

Businessmen Ovidiu Tender, Radu Ouatu, Florea Diaconu and Alexandru Horpos compete with international giants in the construction sector to achieve Bucharest's most awaited infrastructure work in Bucharest, the Drumul Taberei tube. [Link] [Cache]

ZF - ZF English (11.03.2010 01:08h): Caroli-Campofrio merger removes Ovidiu Wencz from new management structure

Ovidiu Wencz, general manager of charcuterie producer Tabco-Campofrio, will not be part of the management of Caroli Foods Group, formed by the merger of the Caroli group with the local subsidiary of European giant Campofrio Food Group, according to sources in the industry. [Link] [Cache]

ZF - ZF English (11.03.2010 01:08h): Romanians at Allview are working on a mobile phone with GPS, 3G and WiFi

Visual Fan, a Brasov-based company with 3 million euros in annual turnover, which manufactures and sells electronic products under its own brand Allview, will invest around 200,000 euros this year in research and development of new products, among which a dual-sim mobile phone compatible with 3G and Wi-Fi technologies. [Link] [Cache]

ZF - ZF English (11.03.2010 01:07h): Lukoil expects 2% decline in fuel market, if things stay the same

Lukoil Romania, the third largest player on the local fuel market, which owns around 300 petrol stations with over one billion euros in turnover, believes sales of refined products could continue their slide on the overall market in 2010, after last year saw a 6% decline in petrol and diesel oil sales on the Romanian market. [Link] [Cache]

Hotnews.ro English (10.03.2010 18:44h): Transylvanian city to compete for 2020 Cultural Capital title

Romanian city Cluj Napoca will candidate for the 2020 Cultural Capital title, mayor Sorin Apostu announced on Wednesday, March 10 2010, according to Agerpres. The local authority will need to prepare the competing project first at a national level by 2013. It is expected for several Romanian cities to enter the competition: Timisoara West also announced its intention to candidate. [Link] [Cache]

Hotnews.ro English (10.03.2010 18:13h): Japan lends Romania 315 mln Euros to build tube network

Japan agreed to lend Romania a loan worth of 315 million Euros for Romanian authorities to build the Bucharest - "Henri Coanda" Airport tube network. The contract was sealed today, Marh 10, in Tokyo, by Romanian President Traian Basescu and Japanese MP Yukio Hatoyama, Agerpres informs. [Link] [Cache]

Hotnews.ro English (10.03.2010 18:01h): Education unions threaten to block academic year. Minister assures there's money for salaries

Romanian education unions are determined to continue their protests, which could lead to blocking the academic year and national exams if Education Ministry doesn't find solutions to solve salary issues and redundancies unions members say, according to Romanian news agency Mediafax. Minister Daniel Funeriu said there were necessary funds for salaries and pensions. [Link] [Cache]

Hotnews.ro English (10.03.2010 15:57h): Annual inflation rates below the analysts' expectations

The annual rate of inflation in Romania fall in February to 4.49% from 5.20% recorded i January, after consumption prices went up 0.20% against the previous month, according to the Romanian National Statistics Agency INS . Economists estimated the annual inflation to 4.6% in February, based on a 0.3% increase in consumerist prices. [Link] [Cache]

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