BUSINESS
Romanians borrow more and more Loans offered to both individuals and companies in Romania grew by 5.8% in November this year as compared to the similar period last year, amounting to 141.11 billion Romanian RON, according to a report released by the Romanian National Bank. Credits in local currency grew by 2.4% while the foreign currency ones in euro equivalent witnessed an boost of 4%.
British investors eye Romanian and Bulgarian real estate market The real estate market in both Romania and Bulgaria witness rocketing prices as the two countries entered the EU, British newspaper the Telegraph writes, quoted by Romanian monitoring agency Rador. Anglo-Romanian Development expert Alex Pintea says that British investors trust the market even more, as the two countries became members of the EU this year.
Economy minister Vosganian on 2008 economic risks facing Romania Romanian Economy and Finance minister Varujan Vosganian says in an interview for BBC-HotNews.ro that he has proposed - and the prime minister allegedly accepted - that a hugely controversial tax on the first registration of cars, which has sparked trouble with the European Commission, be kept but be paid according to the value of the cars. He also says he expects natural gas price rise by one figure starting January 1, 2008, salaries increase by 20% next year and the 2008 budget not be affected by social deals between the governing Liberals and the opposition Social Democrats.
Romanians flee to shop abroad Shopping tourism to Hungary, Austria and Germany is booming as holidays approach. Romanians from frontier and Transylvania cities go shopping via airplanes, personal cars or even by bus. The reason is simple: designer clothes at significantly lower sale prices. The shopping tourism even made exchange houses suffer from the lack of foreign currencies.
Ringier Romania makes press distribution a priority Ringier Romania, one of the most influential print media groups on Romanian market, plans to invest on the media market in the upcoming period in order to develop its infrastructure, a press release of the company shows. The main investment targets are press distribution and printing activities.
Trojan virus replacing Google AdSense BitDefender specialists detected on Tuesday night a trojan virus that replaces GoogleAds with ads from another website posting web ads, a company press release announces. The modified file redirects the name of the domain toward another IP address so that the computers read the commercials from another website than Google.
Romanian car maker Dacia pushes for changes to first car ragistration tax or its replacement with environment tax Romanian car maker Dacia proposes the Government to modify the first car registration tax, which has outraged the European Commission, by reducing the tax according to the age of the acquired car or to turn it into an environment tax, general director of the company Francois Fourmont has said.
New Bucharest Stock Exchange President named Bucharest Stock Exchange top executive Stere Farmache was elected on Tuesday President of the Stock Council. Thus, Farmache replaced Septimiu Stoica who had announced his resignation on November 19.
MTV Romania is officially part of Romanian Media Pro group Central European Media Enterprises (CME) has signed a multi-annual license deal with the MTV Network International through which Pro TV S.A obtains the right to manage MTV Romania, a press release  of CME reports on Tuesday.
Romanians invited to buy exotic islands Coldwell Banker Affiliates of Romania, a real estate company that recently entered the Romanian market offers Romanians the possibility to buy islands in various parts of the world, with prices ranging from 340,000 euro to 25 billion euro.
Banks count on holiday spendings to attract new clients Romanian banks count on the increased holiday spendings to attract new clients, NewsIn agency informs. Strategies include lower interest reates for credits and promotions on consumption credits. 
KPMG: It is tough doing business in Romania Romania, Greece and the Czech Republic come last among European countries in terms of friendly business environment, according to a KPMG report. The three countries are most criticized by businessmen for their frequent legislation changes.
Central banks organize cash injection to support international financial system The largest central banks announced for the nearing holidays a massive common action designed to regain the trust in the financial markets, a press release of the US Federal Reserve informs. The international media comments that this is a very rare measure, being the first of its kind since the 9/11 terrorist attacks. The measure involves the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank.
Romanians to celebrate New Year in Bulgaria After they chose the Bulgarian seashore for the summer, instead of Romanian resorts, Romanians are rather tempted to spend the winter holiday across the border. Thousands of tourists are expected by restaurant and hotel owners in the city of Ruse, on the Danube shore. Many have already purchased their tickets, at costs three - four times lower than similar offers in Romania. 
Romania annual inflation rate for November stalled at 7% The annual inflation in Romania reached 6.67% in November this year, the National Statistics Institute informs. The consumer goods price index grew in November by 0.93% as compared to October, due to a price increase in goods and services of 1.2% and with 0.6% for the non-food products.
Romania trade deficit ups by two billion euro Romania trade deficit deepened after the first ten months of the year to over 17.2 billion euro, an increase of over 6 billion euro as compared to the similar period of 2006 according to the National Statistics Institute. In the mentioned period, the total value of exports grew by 13.2% up to 24.2 billion euro while imports advanced 27.2% to 41.4 billion euro. The overall trade deficit of 2006 amounted to some 14.8 billion euro.
Authorities in eastern Romanian city of Braila block 3 million euro project A project for the rehabilitation  of the city center in Braila, eastern Romania has been selected to receive 3 million euro funds from European PHARE program, but a series of technical misunderstandings between local authorities managed to postpone the works by eight months. Development minister Laszlo Borbely declared that he will dismiss one of the contractors, namely the Portughese company OPCA. 
Expediting debt recovery in commercial transactions Debt recovery in Romania is basically achieved utilizing the procedures set forth in the Romanian Civil Procedural Code. However, as a result of the substantial increase in business transactions in Romania, such routine procedures have become burdensome for creditors, who actually waste a lot of time and money in a long and often non-rewarding process. 
Eastern European economies to slow down in 2008 A new Erste Bank report presents the economic and capital market evolution as the economic crisis effects will diminish in the second part of 2008. According to quoted sources, the inflation in the euro zone will fall to 2% in the second part of 2008 while the EEC economies will face a slower pace of growth.
Italian businessmen discuss their future in Romania Italian businessman involved in the Unimpresa association analyze on Friday the situation of the Romanian - Italian mutual relations, The discussion will be attended to by the Italian ambassador in Bucharest, Daniele Mancini, and the Romanian Foreign Ministry state secretary, Iulian Buga.

ESRI

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