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Accounting for Success

By Ban Ki-moon, UN Secretary-GeneralNext week, the leaders of the world's largest economies will gather in Canada.  Many of the questions on the summit table echo concerns around kitchen tables everywhere.Will the t...

Romania Car Market Down 49%

The Romanian car market in January-May this year recorded its steepest decline in the European Union, according to the Association of European Car Makers (ACEA). In absolute numbers, there were 26,351 new units licensed...

House Of Deputies Unplugs Televisions Operating On Its Floor

by Adriana Duţulescu Starting Thursday journalists work covering the House of Deputies had been made more difficult, since all plugs on the floor where plenary sessions take place had been disconnected from the...

A Quarter Of People With Credits Defaulted On Their Debt

A quarter of the natural persons, or about 222,5000 people, with credits of 20,000 Euro and higher defaulted on their bank payments, according to data issued by the Center for Bank Risks. And this may be one of the...

The Kids Born Into New Money Make Their Way To Political Power

Last Saturday the son-in-law to be of President Traian Basescu made a statement appealing at the public's sympathy for the tribulations media had subjected him to. Bogdan Ionescu, aka Syda, had been the target of choice...

The Senate Wants To Help Companies With VAT Paybacks, But Decision Not Final

The Senate pushes forward with changes to the Fiscal Code that were long awaited for by the business community. Ten days ago it decided for the state to pay back the VAT to companies within 30 days. Yesterday it decided...

Central Bank Governor Dilemma: To Prop Up The Banks Or The Exporters?

This is the moment of truth for Central Bank Governor Mugur Isarescu: will he help commercial banks or will he help exporters? For Isarescu the target is clear: keeping inflation down so as to bring Romania in the...

EIB: Romania Reached Rock Bottom

Romania's economy reached rock bottom and now goes through the final stage of the crises, which mean "huge" budget restrains, said European Investment Bank vice-president Mathias Kollatz-Ahnen."The crisis is not over....

The Ministry Of Finance Deepened The 2009 Recession With Not Paying Debts To Companies, Adviser Says

Romania's Ministry of Finance pushed the country further in the economic recession of 2009, with borrowing money from banks, which it used to pay salaries and pensions, instead of paying old debts to private companies,...

IKEA Buys Franchise Back From Romanian Developer

Romanian businessman Puiu Popoviciu, who opened in 2007 the IKEA store in northern Bucharest, operating it via a franchise, sold it back to IKEA proper, for 25 million Euro.Popoviciu's investment for the 26,000 sqm store...

Privately Owned Beaches Might Be Expropriated, Says Minister Of Tourism

The minister for Regional Development and Tourism Elena Udrea said she envisaged changes to the expropriations law, to enable her expropriate the people who, after 1990, bought sections of the Romanian sea-shore and...
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