President Traian Băsescu yesterday promulgated the law that no longer requires those owners who already have an optional policy covering damages caused by floods, earthquakes and landslides to buy a mandatory home insurance policy. Insurance companies part of the mandatory insurance system might therefore lose more than 30 million euros in premiums, which jeopardises the operation of the system or may lead to tariff hikes. read more...

Businessman Radu Enache, owner of Continental Hotels chain, which operates 14 hotels on the Romanian market, says the value of his hotel assets and of his plots is estimated at around 140-150 million euros, down 20% on 2008. This is the first time that the businessman publicly reveals the value of assets he holds. read more...

The producer of Tuborg and Carlsberg beer, Granini soft drinks and Bilbor mineral water, looking back at this year's performance, says beer sales have gone down by 7% on the entire market, while the decline of non-carbonated drinks amounted to 15% compared with 2009. read more...

n November car registrations exceeded the 11,000-unit mark for the first time, amid the scrappage scheme nearing its end in mid-November, according to players on the car market, with both sales and car registrations recording a two-digit rise last month. read more...

The Cluj-Napoca city hall has contracted a 300 million-RON (around 71 million-euro) loan from CEC Bank over 30 years to cover planned or ongoing investments. read more...

Franklin Templeton manager plans to restructure the 3 billion-euro portfolio of Fondul Proprietatea (Property Fund) by selling its assets on the Stock Exchange or to strategic investors, which could leave the Fund with around 35 companies, half as many as it has now. The Fund currently has representatives in 20 of the companies in its portfolio, according to the fund's manager, Greg Konieczny. read more...

The management of STX OSV shipyard (the former Aker Tulcea), controlled by South Korea's STX Shipbuilding, says it has managed to turn around the company financially this year, so that 2010 will be a profitable year. read more...

The segments that posted declining gross underwritten premiums in the first nine months outnumber the ones that registered growth, so that the overall insurance market shrank by almost 7%. read more...

Raiffeisen Zentralbank Österreich (RZB) has lowered its 12 month target price for the shares of BRD-Groupe Societe Generale (BRD) from 17 lei to 15.4 lei and has maintained the "buy" recommendation for the shares, according to a report by Austrian group RZB. read more...

The management of Hidroelectrica has taken the necessary steps to cancel the contract for the privatization of several micro hydroelectric plants, which it signed in 2008 with Eviva. read more...

Romania's Foreign Affairs Ministry warns Romanians citizens wishing to travel in this period to Greece that public and private unions including air traffic controller's union announced that they will organize on December 15 a general 24 hour strike. read more...

Romanian opposition Social Democratic Party president Victor Ponta said, after a meeting with liberal and conservative leaders, that they agreed to submit a no-confidence motion over the IMF-required unitary wage bill and debate it at the beginning of next year. read more...

The Romanian opposition Social Democratic Party decided Monday to take part in a discussion with President Traian Basescu, after the latter met earlier with the parties in government. read more...

Employees of Romania's Parliament with special status will be allowed to work in the private sector, including in autonomous bodies and commercial companies, according to an amendment approved by the Government Monday. read more...

Mircea Geoana, former PSD leader, was suspended from the party for six months, but he still enjoys the support of the party to maintain his position as Speaker of the Senate, PSD spokesperson Radu Moldovan declared. read more...

The Romanian Parliament budget and finance committees will debate the draft 2011 state budget law and the draft social security budget for next year on Friday, Saturday and Sunday, and the two acts will be up for plenary debates in Parliament staring next week. read more...

More than half the buildings in Bucharest's historic center might collapse in an earthquake more powerful than seven degrees on the Richter scale, said Stefan Dumitrascu, chief architect of the city's 3rd sector, where 90% of the buildings are located. read more...

Romanian President Traian Basescu invited opposition party leaders again to attend consultations with parliamentary parties at the presidential palace on Monday afternoon. read more...

The number of Romanians who went abroad with labor contracts tripled in 2010 compared to last year, according to recruiting company Thera Group. read more...

Romania’s Government has approved six out of 24 amendments submitted by lawmakers to the unitary wage bill for the public sector, for which the Government plans to seek a confidence vote in Parliament Tuesday. read more...