The bilateral economic relations between the United States and Romania need fresh impetus and the actions to be designed by the recently-created American-Romanian Business Council (AMRO) will lead to a better information of the business climate and certainly to new and important U.S. investments in Romania, AMRO President Eric Stewart told Agerpres in an interview.

According to data released within OMV's Trading Statement, Petrom's oil production in 4Q 2011 stood at 186,000 boe/day, which is 1% higher qoq and 0.5% higher yoy as first volumes from the exploration well Totea contributed with 1,500 boe/d.

The Finance Ministry (MFP) on Thursday borrowed RON 1.304 billion (nearly 0.3 billion) off commercial banks, RON 554.45 million more than initially set, in a benchmark bond issue maturing in October 2014 auctioned by the National Bank of Romania (BNR).

Today, the NBR cut the key rate by 25bp to 5.5%, while keeping unchanged the minimum reserve requirements for both RON and FXliabilities. The decision was in line with our expectations and market consensus.

According to a release to the Bucharest Stock Exchange, the local securities commission (CNVM) approved yesterday the preliminary prospectus for the SPO of 15% of the share capital of the power grid operator Transelectrica (TEL).

The state published the official announcement requesting offers for the sale of a 10% stake in energy producer Hidrolecetrica through an IPO by issuing new shares.

Romania's economy could be the first to emerge from the European crisis with a strong economic growth, according to Mark Mobius, managing director of the investment company Franklin Templeton Emerging Markets, and Proprietatea Fund (FP) manager Greg Konieczny.

On January 31, 2012, Romania's international reserves totalled 37.08 billion euros, compared to 37.25 billion euros on December 31, 2011.

The Bucharest Stock Exchange (BVB) closed Wednesday up, with the BET and the BET-C indices having reached their past six month high recorded in the first trade session of August 2011.

DTZ, part of UGL Services, a division of UGL Limited (ASX: UGL), today released its latest European Investment Market Update. The report showed fourth quarter 2011 commercial real estate investment activity totalled €31.4bn in Q4 2011, a 17% increase on Q3 2011. This led annual volumes in 2011 to €110bn, an increase of 7% on 2010.

Intense competition for capital in the market may cause major problems for businesses when they try and renew their debt financing this year. $2 trillion* of loans need to be rolled over globally, with $250bn of investment grade funds needing to be refinanced across the EMEA region in 2012**, PwC comments.

When out shopping these days, consumers are ever more likely to turn to their personal computers (PCs), smartphones and tablet PCs to find gifts, check recommendations, compare prices, access online coupons, and ultimately pay for their purchases, according to the results from KPMG International's 5th Annual Consumers and Convergence Survey.

The Supervisory Board of Banca Comerciala Romana (BCR) took several decisions regarding the structure of BCR's Management Board (Executive Committee).

According to PwC's new annual Gold Price Report, 80% of mining companies expect the price of gold to continue to increase this year, with the majority of respondents expecting gold to peak at USD 2,000 per ounce in 2012.

Epstein Architecture & Engineering has recently started the Construction phase of the new finished goods warehouse for Star Foods. Epstein is providing full architecture, engineering and construction project management services for the development of the new finished goods warehouse expansion. The facility will be delivered by mid 2012 and is located in Popesti Leordeni, on the southern outskirts of Bucharest.

Conference by Baker Tilly Klitou in Bucharest, RomaniaBaker Tilly Klitou and Partners organised the Tax Conference “Tax Challenges for Multinational Companies” on 25 November 2011 at the Marriott Hotel in Bucharest.  The event was under the auspices of the Romania – Cyprus Bilateral Chamber of Commerce and Industry.

The former PIC hypermarket in Craiova was reopened today under the Succes brand. This is the second store of the former PIC network that Succes Nic COM opens after the Pitesti hypermarket. PricewaterhouseCoopers Business Recovery Services IPURL has been appointed the judicial administrator of PIC S.A. in March 2010, after the company had entered in the insolvency procedure at the end of 2009.