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Romania offers state aid for Bosch and De�Longhi�s new investments in the country

Claudiu.Padurean — Sat, 04 Feb 2012 10:22:01 +0200

The Romanian Government is considering offering state aid to German group Bosch, which is preparing a EUR 77 million investment in the Cluj area of Romania, and for De�Longhi�s planned take over of the former Nokia factory at the same site. Romanian Prime Minister Emil Boc (in picture, right) recently met Fabio de�Longhi (in picture, left), CEO of De�Longhi and Guenther Gau�, executive vice-president of Bosch�s Automotive Electronics, which secured 215,000 sqm near Cluj, at Jucu, where it plans to create 300 new jobs in a first phase.

Mal�v shuts down, but which carriers might be interested in the 27 monopoly routes from Budapest?

Claudiu.Padurean — Sat, 04 Feb 2012 10:20:00 +0200

Mal�v�s cessation of operations today begs the question of what the route network implications are for Budapest Airport. During the current winter season, Mal�v has accounted for just over 42% of Budapest�s scheduled traffic, operating to 43 destinations non-stop. On 21 of these routes (accounting for 65% of Mal�v�s weekly seat capacity), passengers have had the choice of at least one alternative airline, while the remaining 22 routes are not served by any other carrier. For the upcoming summer season, Mal�v�s network was expected to grow to 54 non-stop routes, of which 27 would be served by at least one other carrier and 27 on which Mal�v would have been facing no direct competition.

Everton to offload Silva as Romanian clubs register interest in young striker

Claudiu.Padurean — Thu, 02 Feb 2012 08:30:11 +0200

Everton are set to sell Joao Silva this month, with Otelul Galati and FC Cluj showing interest.

House of Art and Levis� insolvencies to be managed by Casa de Insolventa Transilvania

Claudiu.Padurean — Thu, 02 Feb 2012 07:39:30 +0200

Bucharest Court of Justice named the insolvency-specialized company Casa de Insolventa Transilvania (CITR) as judiciary administrator for Staff Collection and Corssa companies, operating the fashion networks of House of Arts, Fox, Levis and Eponge brands

Bloomberg: Banca Transilvania�s 2011 Profit Rose 35% on New Loans

Claudiu.Padurean — Thu, 02 Feb 2012 07:06:58 +0200

Banca Transilvania SA (TLV), Romania�s second-largest publicly traded bank, said its 2011 profit rose 35 percent on higher lending as the cost of bad loans declined.

Bosch asks for state aid for investments to be rolled-out in Romania

Claudiu.Padurean — Wed, 01 Feb 2012 08:12:22 +0200

German car parts producer Bosch has submitted a request for state aid for the investment project in Cluj, according to Prime Minister Emil Boc.

De� Longhi and Bosch check into Jucu after Nokia departure

Claudiu.Padurean — Wed, 01 Feb 2012 07:27:29 +0200

Italian white goods producer De�Longhi and German car parts manufacturer Bosch will invest in Jucu�s Tetarom industrial park. De� Longhi has signed an agreement with Nokia Corporation to acquire the production unit in Jucu, Cluj, announced the Finnish company, confirming rumors on the media market.

Recession forces local exporters to cast net wide

Claudiu.Padurean — Tue, 31 Jan 2012 15:42:37 +0200

After Romanian exports posted an encouraging 22.5 percent growth in the first 11 months of last year on the same period of 2010, companies are now facing a rough ride as the looming recession in the European Union, Romania�s main export destination, threatens their foreign sales. Emerging markets outside the EU are luring local companies but to what extent are they a viable alternative?

Bosch sets up production unit in Jucu, with approximately EUR 60mln investment

Claudiu.Padurean — Tue, 31 Jan 2012 10:47:18 +0200

German car parts manufacturer Bosch will open a production unit at Jucu, as announced by Viorel Gavrea, general manager of Tetarom industrial park.

Gabriel�s Gold Mine Triggers Protests in Romania, Bursa Reports

Claudiu.Padurean — Tue, 31 Jan 2012 07:37:34 +0200

Gabriel Resources Ltd (GBU).�s Rosia Montana gold-mine project triggered protests in Romania during the weekend, both in support of the project and opposition to it, Bursa newspaper reported yerterday.

Canadian-Romanian goldmine draws protests

Claudiu.Padurean — Sun, 29 Jan 2012 13:19:32 +0200

Hundreds of Romanians took to the streets Saturday in two simultaneous demonstrations in a Transylvanian village and in Bucharest, one in support and the other against a Canadian goldmine project.

Clemson big man Baciu trying to reach expectations

Claudiu.Padurean — Sat, 21 Jan 2012 12:40:55 +0200

Height is the first thing people notice, the first tangible trait measured in basketball. Size is so critical, it can precede a player's name and position when starting lineups are announced at games.

Banca Transilvania�s CEO Resigns, Names Franklin as Interim

Claudiu.Padurean — Sat, 21 Jan 2012 08:13:48 +0200

The chief executive officer of Romania�s Banca Transilvania SA, Robert Rekkers, resigned, the bank said in an e-mailed statement.

Leading Romanian Research Institution Expands Capabilities With Purchase of a NanoInk DPN 5000 System

Claudiu.Padurean — Thu, 19 Jan 2012 07:45:59 +0200

NanoInk's(R) NanoFabrication Systems Division is pleased to announce that the National Institute for Research and Development of Isotopic and Molecular Technologies Cluj-Napoca (INCDTIM) in Romania has just completed installation of a new DPN 5000 System. The instrument resides within the Department of Molecular and Biomolecular Physics, which is headed by Dr. Ioan Turcu.

Romanian NASA Hacker Gets a Three-year Suspended Prison Sentence

Claudiu.Padurean — Thu, 19 Jan 2012 07:42:51 +0200

Robert Butyka, a 26-year old Romanian man accused of hacking into multiple NASA servers, received a three-year suspended prison sentence on Tuesday after admitting his guilt.

Most ample protests against president so far take place over the week-end in Romania. Demonstrations turn to violence VIDEO

Claudiu.Padurean — Tue, 17 Jan 2012 15:26:03 +0200

Approximately 2,000 people went out in the street in Unirii and Universitate Square this week-end, asking for the resignation of the president Traian Basescu and the current government led by prime-minister Emil Boc.

Reuters: Romanian protesters clash with riot police

Claudiu.Padurean — Mon, 16 Jan 2012 07:20:47 +0200

omanian riot police used tear gas against protesters who threw rocks and set fire to newspaper stands and rubbish bins in central Bucharest in a fourth day of street demonstrations against government austerity measures Sunday.

La MaMa and UniArt's HIERONYMUS Begins Performances

Claudiu.Padurean — Sat, 14 Jan 2012 10:08:22 +0200

HIERONYMUS is a visual performance that recompose from a puzzle of situations, the life and work of Hieronymus Bosch, revealing the condition of the artist in relation to society and his private life. Using elements of black theater, video projections and giant puppets, "Hieronymus" recreates Bosch�s grotesque and tragic imaginary in a fantastic universe that incorporates the sacred, the profane, the symbol and the metaphor of his paintings.

EU gives Nokia employees in Jucu EUR 200 allowance for job interviews

Claudiu.Padurean — Fri, 06 Jan 2012 11:50:16 +0200

The employees who were made redundant from the Jucu plant in Cluj run by Finnish company Nokia will receive an EUR 100- EUR 200 �allowance for job interviews.

Balkans.com: Romania's 2011 economy in review

Claudiu.Padurean — Thu, 05 Jan 2012 07:53:27 +0200

At the end of September, the Finnish group Nokia announced it would close down its production unit in Jucu, Cluj County, which happened in early December. Nokia had started manufacturing cell phones in Romania in 2008, with total investments standing at 60 million euros. The Finnish group had previously shut down its Research and Development Centre in Cluj-Napoca, laying off approximately 120 employees. �Nokia wants to direct its cell production to locations of optimal proximity for retailers and key markets. Accordingly, Nokia plans to shut down the factory in Cluj, since large volume production units in Asia are offering a better scale of operations and proximity benefits�, read a Nokia press release. In 2010, Nokia was Romania�s second largest exporter after carmaker Dacia Groupe Renault. 2,200 people were laid off when the factory in Jucu was closed down.