BUSINESS
Greg Konieczny, Proprietatea Fund: Nuclearelectrica and Hidroelectrica giants are ready to be listed Nuclearelectrica and Hidroelectrica giants, the biggest producers of electric energy in Romania are ready to be listed at the stock exchange, Proprietatea Fund manager Greg Konieczny declared. He said that this can be a solution for the energy sector and also declared that three energy complexes, Turceni, Rovinari and Craiova should be restructured and then sold.
Foreign direct investments dropped by 25.5% in the first 11 months of 2010  Foreign Direct Investments ncreased in the first 11 months of 2010 to 2.26 billion euro, a 25.5% drop compared to the similar period in 2009 of 3.04 billion euro, Romania’s National Central Bank data reads. Direct investments of non residents in Romania financed by 43.9% the current account deficit in January – November 2010 which increased to 5.17 billion euro.
Romania’s current account deficit increased by 23.5% in the first 11 months of 2010 to 5.17 billion euro  The current account of the balance of payments registered in the first 11 months of 2010 a deficit of 5.17 billion euro, a 23.5% increase compared to the same period in 2009, Romania’s National Central Bank data reveals. The current account deficit increase was mainly caused by the negative balance of the revenues and services.
Romtelecom lays off up to 1400 employees in 2011 in an attempt to cut costs and increase efficiency  Romtelecom will lay off about 1000 to 1400 employees this year to cut costs and increase the efficiency, the operator announced. Romtelecom launched over 20 transformation projects that will take place until 2013 and aim at improving processes, from sales to installation, increasing efficiency in call centers and shops or simplifying the products portfolio.
Inflation increased to 7.96% in December  The annual inflation rate increased in December to 7.96%, the biggest contributor was the increase of prices for non food products by 9.76% and especially prices for tobacco and fuel, Romania’s National Statistics Institute reads. In December 2010, consumption prices increased by 0.53%.
18 investigations and 31.49 million euro fines implemented by the Competition Council in 2010  The Competition Council concluded 18 investigations of which 11 were older than 3 years and applied fines worth 31.49 million euro compared to six investigations concluded in 2009 and 2.3 million euro fines, a report of the institution released on Tuesday reads.
Finance minister requested IMF a higher deficit target in the first two quarters in 2011 for investments  Romania’s Finance ministry requested the IMF to allow a higher deficit target in the first two quarters of 2011 for investments. The requested target for the first quarter is 8 billion lei, Finance minister Gheorghe Ialomitianu declared. The government agreed with the IMF a budgetary deficit target for the first quarter of 5.7 billion lei.
Dacia sales increased by 12% globally in 2010 to 350,000 units / A tenth were sold in Romania Dacia sales advanced by 12% last year globally, to about 349,000 units of which 23,000 units were commercial vehicles, Renault data revealed. France was by far the biggest market with about 110,000 units, Germany exceeded 40,000 units. Duster found over 67,000 clients. In Romania, Dacia sold over 36,000 cars.
Romania’s commercial deficit dropped by 3.54% in the first 11 months of 2010 to 8.63 billion euro / Exports continue to work well  Romania’s commercial deficit dropped in the first 11 months of last year by 3.54% to 8.63 billion euro, from 8.95 billion euro in the same period in 2009 according to the Romanian National Statistics Institute. The decrease of the commercial deficit was mainly caused by an increase of exports and their advance to imports.
Proprietatea Fund to be listed on January 25 The Bucharest Stock Exchange Council decided in a meeting on Thursday to allow Proprietatea Fund shares to be listed on the market with the FP symbol, a press release of the market operator reads. Stock Exchange President Stere Farmache declared that several important foreign institutional investors will be interested in the new stokes and this will have a positive impact on the market liquidity.
Romanian unemployment rate increased to 6.9% in Q3 2010 / 703,000 people were jobless Unemployment rate, calculated by the international labour office was 6.9% in the third quarter last year, a 0.1% increase compared to the similar period in 2009 when unemployment was 6.8%, Romania’s National Statistics Institute reads. The highest unemployment rate was registered among youngsters aged 15-24 years old.
Central bank governor: Progress needed in 2011 for Romania to join euro Romania needs to report further progress in 2011 so that it keep up with plans to join the euro in 2015, but reforms might take two years, which may change the date of euro adoption, Romanian National Bank (BNR) Governor Mugur Isarescu said on Tuesday.
CEZ group sold stake in Cernavoda project to Nuclearelectrica - Romanian state plans selling part of its stake Czech group CEZ sold by the end of 2010 its shares in the project to conclude works at the Cernavoda nuclear power plant in Romania, a press release of the group reads. It says the announcement of an intention to sell the 9.15% of shares held by CEZ in Energonuclear SA company was made in late 2010 and that the shares were sold to Nuclearelectrica SA, the majority shareholder in the project to build reactors 3 and 4 of the Cernavoda plant. Contacted by HotNews.ro, CEZ informed the shares were sold for 7.4 million RON.
Ford names a Belgian to lead Craiova 
Starting January 1, 2011, Jan Gijsen currently director for new markets within Ford Europe will be named director of Ford's Romanian company and President of Ford Romania, the company announced. He will replace Dioni Campos san Onofre who lead the Romanian branch in the last two years. 
IT Scop Computers was taken over by the Polish ABC Data company 
Polish group ABC Data, one of the most active players in the region on IT distribution took over 51% of the Romanian company Scop Computers. ABC Data plans to takeover the whole share pack of the company in the next years. Polish press reads that the transaction was agreed on 5 million euro. 
Romanian minister: Social spending amount to 69 billion of a total lei of a total of 200 billion. It should be rationalised Romania's government has a clear decision on rationalising social spending, which have a considerable weight in the consolidated budget - social spending amounts to 69 billion lei, of a total spending of 200 billion, Finance minister Gheorghe Ialomitianu said at a conference on European issues in Bucharest on Thursday.
Sofidel purchased 70% of the Romanian company Comceh 
Italian group Sofidel, producer of paper for sanitary and home use purchased 70% of Comceh company, the most important Romanian company activating in this sector according to the internet page Il sole 24ore. The operation was made through Sofidel's Polish branch, Delitissue that purchased this year 30% of Comceh's shares. 
The Romanian state plans to sell its shares held at Romtelecom / A price offer from OTE is expected by the end of the year 
The Romanian state plans to sell its 46% shares at Romtelecom and invited OTE representatives, the majority shareholder of the operator to offer a price by the end of the year, Communications ministry announced. The announcement follows a meeting between the Communications minister and OTE President and general director and Romtelecom's executive director. 
UPDATE Seven companies fined with 980,000 euro by the Competition Council / Sind Romania belongs to the biggest unions 
Seven companies were fined with 980,000 euro by the Competition Council for attending a public tender organized by the National Pensions House, in 2008, with false offers, the Competition Council informed. UPDATE Sind Romania, one of the seven fined companies is owned by unions. According to official data, Sind Romania is owned by  the five biggest unions in Romania. 
Volkswagen seeks suppliers for electrical car parts in Romania but companies do not rise to quality demands 
The German group Volkswagen seeks suppliers for electrical car parts in Romania but local companies do not rise to the quality demands of the Germanis, Volkswagen official Attila Kulik declared, quoted by 0-100.ro. Volkswagen buys parts of the cars it produces from Romania. Germans plan to introduce electrical cars in 2013. 

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