Finance, Banking and Economic News - 11 July 2011 -
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Finance, Banking and Economic News
11 July 2011

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The process by which the Romanian state sells 9.84% of the shares held by the Economy Ministry in oil company Petrom starts on Monday. The offer is mediated by a consortium of banks formed around Renaissance Capital Limited, held 50% by Russian billionaire Mikhail Prokhorov through the Onexim Group Investment Fund. read more...

Romanian President Traian Basescu received European Commissioner Neelie Kroes in Bucharest on Monday. He used the occasion to note that Romania adopted necessary measures to combat the economic crisis a year before other countries but that fact was not acknowledged by anybody for the time being. read more...

Bulgaria created a ministry in 2010 to deal exclusively with the seven operational programs funded by the EU. In an interview with, Bulgarian minister Tomislav Donchev, 38, tells how his ministry managed to absorb five times more European funds in one year than in the period of 2007-2009. read more...

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