Business Review

Enterprise Venture Fund I (EVF), the venture capital fund managed by Enterprise Investors (EI), inked its first investment in Romania.

ING Insurance Central Europe has leased 4,000 sqm in Amera Tower office building in Cluj – Napoca, DTZ Echinox, which intermediated the lease, has announced. The new tenant will move into the new office in July this year.

The Ministry of Communication has approved for financing 17 e-health projects at a local level. These were selected from a total of 37 projects submitted in the company 3.2.4.- "The support of implementing e-health solutions and ensuring broadband connection, where it is necessary."

Romania’s economy has already reached its minimum point and now it is passing through the last stage of the current crisis, which implies “huge” difficulties concerning the public budget, thinks the vice-president of European Investment Bank (EIB), Mathias Kollatz-Ahnen.

German retailer Metro Cash & Carry reported sales of EUR 1.22 billion for last year in Romania, which was down on the EUR 1.63 billion a year before, according to data from the company.

Bostina and Associates law firm posted EUR 16.9 million in revenues last year, achieving its development target for 2009, according to the company.

Adrian Vasilescu, the advisor of the National Bank of Romania (BNR) governor said in a press conference that he didn’t exclude the possibility that some Romanians who have debts to their lenders and are not able to pay them anymore to be turned out from their houses they bought through a mortgage loan.

European Goldfields announced that has received the last remaining approval required for the grant of the zonal urbanisation (PUZ) plan relating to Certej gold-silver mine from the Timisoara authorities.

Romanian electricity distributor CEZ Distributie will cut 110 jobs in 2010, representing over 7 percent of the total personnel, according to Doina Vornicu, the company’s GM.

The local producer of construction materials, Prefab, will issue an IPO in the next 2 or 3 months, announces the company. The shareholders’ decision was motivated by the good financial results registered in 2009 and in Q1 of this year.