http://business-review.ro/ Business Review - Latest News en-us Business Review Sat, 04 Feb 2012 01:00:02 +0200 http://cyber.law.harvard.edu/rss/rss.html 60 http://business-review.ro/power/exxonmobil-and-omv-petrom-find-gas-in-the-black-sea-during-exploration-works/13284/ Domino-1, the first deepwater exploration well, which was jointly set up by ExxonMobil and OMV Petrom in late 2011, has encountered the first natural gas deposits in the Romanian sector of the Black Sea. However, it is too early to say if the discovery proves to be commercial or not. Ovidiu Posirca http://business-review.ro/power/exxonmobil-and-omv-petrom-find-gas-in-the-black-sea-during-exploration-works/13284/ Fri, 03 Feb 2012 18:37:00 +0200 http://business-review.ro/news/romania-shivers-under-snow-and-blizzard-alert-until-sunday-evening/13283/ The yellow alert for snow and blizzard has been prolonged until Sunday evening at 20:00. It will snow countrywide and snow thickness is expected to exceed locally 20 cm especially in the hills and mountains area. Simona Bazavan http://business-review.ro/news/romania-shivers-under-snow-and-blizzard-alert-until-sunday-evening/13283/ Fri, 03 Feb 2012 18:04:00 +0200 http://business-review.ro/news/kapsch-acquires-romanian-firm-squario-it-solutions/13282/ Austrian corporation Kapsch, specialized in solutions for domains such as intelligent transportation systems, telecom and railway operations, information and communication technology, has announced today the takeover of Romanian firm Squario IT Solutions. Otilia Haraga   http://business-review.ro/news/kapsch-acquires-romanian-firm-squario-it-solutions/13282/ Fri, 03 Feb 2012 17:18:00 +0200 http://business-review.ro/money/arrears-of-imf-monitored-soes-decreased-by-15-percent-to-eur-1-9-bln-in-2011/13281/ The Romanian Ministry of Economy, Commerce and Business Environment (MECMA) has reduced the level of arrears in 8 state-owned companies (SOES) monitored by the IMF to EUR 1.9 billion last year, although the operational loss target was missed by 7 percent.  Ovidiu Posirca http://business-review.ro/money/arrears-of-imf-monitored-soes-decreased-by-15-percent-to-eur-1-9-bln-in-2011/13281/ Fri, 03 Feb 2012 16:34:00 +0200 http://business-review.ro/news/vat-reduction-not-an-option-says-finance-minister/13280/ Government has no intention to reduce the VAT, not even for food products, Romanian finance minister Gheorghe Ialomitianu said this Friday. He added that if any tax cuts will be operated, the priority will be to reduce the social security contributions. Simona Bazavan http://business-review.ro/news/vat-reduction-not-an-option-says-finance-minister/13280/ Fri, 03 Feb 2012 16:05:00 +0200 http://business-review.ro/news/businessman-sorin-ovidiu-vintu-sentenced-for-blackmail/13279/ Businessman Sorin Ovidiu Vîntu received a half-year sentence for blackmail, as decided by the Court of Justice in sector 1. The decision is not definitive and can be contested. Otilia Haraga http://business-review.ro/news/businessman-sorin-ovidiu-vintu-sentenced-for-blackmail/13279/ Fri, 03 Feb 2012 15:31:00 +0200 http://business-review.ro/news/wizz-air-announces-bucharest-budapest-flight-after-malev-shut-down/13278/ Hungarian low-cost airline Wizz Air has announced that it will invest EUR 100 million in expanding its operations from Budapest, including the acquisition of two Airbus A320 airplanes this March. Simona Bazavan http://business-review.ro/news/wizz-air-announces-bucharest-budapest-flight-after-malev-shut-down/13278/ Fri, 03 Feb 2012 15:15:00 +0200 http://business-review.ro/news/lowe-partners-has-a-new-managing-director/13277/ Aura Toma will be managing director of the Lowe&Partners agency starting this March. She is replacing Oana Cociasu who was appointed another position with the Lowe group. Toma holds 15 years of professional experience in advertising, having previously held top management positions with several local agencies. Simona Bazavan http://business-review.ro/news/lowe-partners-has-a-new-managing-director/13277/ Fri, 03 Feb 2012 15:14:00 +0200 http://business-review.ro/news/hungarian-airline-malev-collapses/13285/ Hungarian national carrier Malev has folded after over 65 years of operations. The board of directors made the decision to ground aircraft on 3 February after mounting losses. The European Commission had ordered the beleaguered airline to repay EUR 130 million of state aid it bad received between 2007 and 2010. http://business-review.ro/news/hungarian-airline-malev-collapses/13285/ Fri, 03 Feb 2012 15:14:00 +0200 http://business-review.ro/news/ringier-romania-appoints-new-advertising-sales-director-after-edipresse-takeover/13276/ Cezar Burlan has joined Ringier Romania as advertising director. His appointment comes after the media company has extended its local print portfolio by taking over local Edipresse. Burlan has over 15 years of professional experience in sales advertising. Simona Bazavan http://business-review.ro/news/ringier-romania-appoints-new-advertising-sales-director-after-edipresse-takeover/13276/ Fri, 03 Feb 2012 15:11:00 +0200 http://business-review.ro/news/out-with-the-hype-please-says-forbes-regarding-facebook-listing/13275/ There's no way Facebook is worth USD 75 billion, warns Forbes.com concerning the listing of the company on the stock exchange and the commotion surrounding this. Otilia Haraga http://business-review.ro/news/out-with-the-hype-please-says-forbes-regarding-facebook-listing/13275/ Fri, 03 Feb 2012 14:47:00 +0200 http://business-review.ro/money/romania-s-forex-reserves-fall-eur-500-mln-to-eur-32-6-bln-in-january/13274/ Foreign reserves of the National Bank of Romania (NBR) stood at EUR 32.6 billion at end-January, down around EUR 500 mln from the previous month. Ovidiu Posirca http://business-review.ro/money/romania-s-forex-reserves-fall-eur-500-mln-to-eur-32-6-bln-in-january/13274/ Fri, 03 Feb 2012 14:31:00 +0200 http://business-review.ro/news/romanian-video-sharing-site-trilulilu-launches-music-application-zonga/13273/ Romanian video sharing website Trilulilu has launched an application called Zonga that offers access to the most comprehensive legal music collection in Romania, according to a press release of the company. Otilia Haraga   http://business-review.ro/news/romanian-video-sharing-site-trilulilu-launches-music-application-zonga/13273/ Fri, 03 Feb 2012 14:30:00 +0200 http://business-review.ro/power/adrem-invest-to-put-eur-70-mln-for-suceava-cogeneration-plant/13272/ Romanian Adrem Invest, a company specialized in industrial technical engineering, has changed building plans for the cogeneration plant in Suceava County, increasing its energy efficiency to 90 percent. The plant will be fueled solely by biomass and the whole project cost will increase from EUR 45 million to EUR 70 million. Ovidiu Posirca http://business-review.ro/power/adrem-invest-to-put-eur-70-mln-for-suceava-cogeneration-plant/13272/ Fri, 03 Feb 2012 13:03:00 +0200 http://business-review.ro/money/romania-s-key-interest-rate-lowered-to-5-5-percent/13270/ The National Bank of Romania (NBR) slashed the key interest by 0.25 percent to 5.5 percent. The annual rate on the deposit facility will be cut to 1.5 percent, while the overnight rate will be 9.50 percent. Ovidiu Posirca http://business-review.ro/money/romania-s-key-interest-rate-lowered-to-5-5-percent/13270/ Thu, 02 Feb 2012 18:58:00 +0200