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Romanian Govt Postpones Approving Wage Law For Wednesday Over Lack Of OK From Econ Council

10:26, 22 Nov. 2010
Romania’s Government will not discuss the IMF-required unitary wage law Monday because it has not yet received a stance form the country’s Economic and Social Council and has postponed its approval for Wednesday, said spokeswoman Ioana Muntean.

Romanian Govt Holds Cabinet Meeting Monday To Approve Wage Law

09:52, 22 Nov. 2010
Leaders of Romania’s ruling coalition have assembled for a meeting at the Government’s headquarters in Bucharest Monday morning ahead of a Cabinet meeting to approve an IMF-required wage law for the public sector.

Romanian Soprano Roxana Briban Dead In Suicide

17:06, 21 Nov. 2010
Romanian soprano Roxana Briban committed suicide Saturday afternoon at her home in Bucharest, her husband Alexandru Briban told MEDIAFAX, adding that she had had a breakdown after being fired from the Bucharest National Opera in 2009.

Romanian Medicine Graduates Who Fail Intern Exam May Enter System With Limited Duties

16:12, 21 Nov. 2010
Romanian Health Minister Attila Cseke said Sunday that medicine graduates who have failed the internship exam may be allowed into the system with limited duties, in order to cover the personnel shortage.

EXCLUSIVE: Romanian Govt To Improve EU Fund Absorption Via Well-Paid Experts, Exacting Contracts

15:41, 21 Nov. 2010
Romania's Government has developed a plan to improve community fund absorption, which includes a hiring thaw, high salaries in managing bodies and strict requirements for EU contracts, due to concerns that the funds may be withdrawn by the European Commission in 2012 without such a program.

Future Romanian Social Code To Reduce No Of Social Benefits, Recipients

13:00, 20 Nov. 2010
Romanian Labor Minister Ioan Botis said Friday that the Social Code, currently being drafted by the Government, will reduce the number of social benefits and of their recipients.

Romanian Businessman Caught Offering Bribe To High Official

18:57, 19 Nov. 2010
Romania's National Anticorruption Directorate (DNA) on Friday caught a businessman in the act of offering a EUR50,000 bribe to Interior Ministry state secretary Dan Fatuloiu, in exchange for solving a series of cases in his favor, said people close to the matter.

Romania’s Child-Rearing Benefits Might Return To 85% Of Parent’s Avg Income

18:39, 19 Nov. 2010
Romanian Labor Minister Ioan Botis on Friday said child-rearing benefits might return to 85% of the parent’s average net income for the previous year, the level in June 2010, before the 15% cut imposed by the Government.

U.S. Constructor Bechtel Sets Off Massive Layoff Procedures On Transylvania Hwy Site

14:54, 19 Nov. 2010
U.S. Bechtel, the company building Romania’s Transylvania Highway, on Friday said it informed unionists of its plan to sack over 800 employees working on the highway, arguing the construction area is not ready for further works and the Romanian state has not paid its debts for works in 2010.

Romanians To Receive Child-Rearing Benefits For Less Time – Labor Min

13:41, 19 Nov. 2010
Romania might provide child-rearing benefits for a shorter period of time, though in the same amount, said Labor Minister Ioan Botis on Friday.

EXCLUSIVE: Romania Unemployment Aid No Longer Tied To Min Wage In 2011

13:24, 19 Nov. 2010
Romania’s Government has committed to the IMF to no longer tie unemployment aid to the minimum wage to avoid having to raise it along with the wage hike planned for 2011, according to the Government’s letter of intent.

Employees Of Romania Daewoo Mangalia Shipyard End Strike After Nearly 6 Weeks

10:58, 19 Nov. 2010
Employees of Romania’s Daewoo Mangalia Heavy Industries (DMHI) shipyard went back to work Friday after nearly six weeks of strike over a new collective work contract and higher pay

Romanian Unions Say 15% Raise In Public Sector Wages In 2011 Won’t Cover Inflation

20:43, 18 Nov. 2010
Romanian union leader Simion Hancescu on Thursday said the 15% raise in public sector wages announced by the Government for 2011 doesn’t mean a recovery of this year's 25% pay cut, as the 15% wage raise won’t cover the inflation rate and the elimination of the 13th salary, which total 16%.

Romanian Airports To Set Fees After Consultations With Airlines – Draft

18:39, 18 Nov. 2010
Romanian airports with an annual traffic of over 500,000 passengers will set the level of airport fees after consultations with airlines and are required to announce any changes in prices at least four months ahead, according to a draft government decision drawn up by the Transport Ministry.

Romanian Youths Unhappy With School-Provided Sexual Education – Study

17:44, 18 Nov. 2010
More than half of the Romanian youths who took part in a European study on sexual health believe the teachers handling their sexual education at school do not have the necessary knowledge, says a press release.

Drugstores In Romania To Be Set Up And Operate As Commercial Companies As Of 2011

16:23, 18 Nov. 2010
Drugstores in Romania will be set up and operate as commercial companies starting 2011, with a pharmacist as sole associate or part of associations of pharmacists who own at least 51% of shares, according to the new law on the organization and functioning of drugstores.

Romanian Court Sentences Businessman Corneliu Iacobov To 7 Years In Prison For Fraud

15:42, 18 Nov. 2010
The Bucharest Court of Appeals sentenced Corneliu Iacobov and Toader Gaurean to seven and six years in prison, respectively, for defrauding the RAFO Onesti oil refinery.

WB: 2.77 Million Romanians, 13.3% Of Population, Have Emigrated

15:02, 18 Nov. 2010
The number of Romanians who emigrated stands at 2.77 million this year, accounting for 13.1% of the population, but is expected to drop considerable on the long term, in 10 -15 years, as Romania converges toward Europe, the World Bank said Thursday.

HP Romania Eyes Hiring 600 People At Bucharest-Based Services Center GeBOC In 2011

14:37, 18 Nov. 2010
Hewlett Packard (HP) Romania plans to hire 600 people in 2011 at its Bucharest-based services center Global eBusiness Operations (GeBOC), which is similar to the number of people hired in 2010, GeBOC general manager Alexander Weigl said in a press conference Thursday.

Romanian Govt Freezes Hiring In 2011 Because Of Slow Economic Recovery

14:34, 18 Nov. 2010
Romania's Government has decided to keep public sector hiring frozen in 2011 and fill only one in seven vacant positions, as the economy is recovering "slowly," expecting savings of around 350 million lei (EUR1=RON4.2960) in personnel expenses, but also lower revenue from income taxes.

Romania Constitutional Court To Rule On Govt-Parl Conflict On Dec 1

13:42, 18 Nov. 2010
Romania’s Constitutional Court is to decide on December 1 on the legal conflict between the Government and Parliament over the education bill, the Court said Thursday.

Romania Slightly Revises Up Year-End Budget Revenue

13:34, 18 Nov. 2010
Romania's Government will slightly revise up its year-end estimate for budget revenues by 52.8 million lei (EUR1=RON4.296) to RON165.49 billion, according to the draft of the second budget revision for 2010.

Parliament May Not Stop Education Bill Adoption Procedure – Romanian PM

13:10, 18 Nov. 2010
Romanian Prime Minister Emil Boc said Thursday that the Parliament may not stop a current procedure and, if there was a supposed legal conflict on the education bill, it was resolved when the Government set the calendar for the vote of confidence on the bill.

EXCLUSIVE: Romanian Govt Slashes VAT Funds For Local Budgets

12:17, 18 Nov. 2010
Romania's Government will reduce the funds taken from VAT collections and transferred to local budgets to cover personnel expenses and bonuses in public schools, in addition to reducing the social aid budget.

Romanian Govt To OK Second Budget Revision This Year Monday

11:28, 18 Nov. 2010
Romania’s Government will approve this year’s second budget revision in a special Cabinet meeting Monday, when it will also approve the unitary wage bill which it seeks to adopt through a confidence vote, Government spokeswoman Ioana Muntean said late Wednesday.

Romanian Govt Set To Approve Public Sector Wage Bill Monday

11:19, 18 Nov. 2010
Romania’s Government will approve the IMF-required unitary wage law for the public sector in a Cabinet meeting Monday and will then be sent to Parliament before the Government seeks a confidence vote to pass it into legislation, Government spokeswoman Ioana Muntean said late Wednesday.

EXCLUSIVE: Romanian Govt Bans Financial Incentives For Public Sector Next Year

10:41, 18 Nov. 2010
Romanian state workers won’t get incentives, meal, gift or vacation vouchers next year either and overtime will be rewarded with days off instead of extra pay, according to the unitary wage bill obtained by MEDIAFAX.

EXCLUSIVE: Romania Public Sector Wages To Grow Next Year But Stay 13.75% Lower Than Before Pay Cut

10:20, 18 Nov. 2010
Base salaries in the Romanian public sector will increase by 15% in 2011 which means they will still be 13.75% lower than in June this year, when the Government slashed a quarter of state workers’ pay, according to the unitary wage bill obtained by MEDIAFAX.

Romania, IMF Set 1Q 2011 Budget Deficit Target At RON5.7B

20:03, 17 Nov. 2010
Romania and the International Monetary Fund have agreed on a budget deficit target of 5.7 billion lei (EUR1=RON4.295) for the first quarter of next year, one third lower compared to the same period of 2010.

Romania 3Q Foreign Card Payments At Record RON1B – Central Bank

19:44, 17 Nov. 2010
Romanians used cards to pay 966 million lei (EUR1=RON4.2950) in the third quarter to POS terminals abroad, the largest amount reported to date, and withdrew RON380 million from foreign ATMs, according to central bank data.

Romanian Suppliers To Disclose Sources Of Electricity Under New Bill

17:55, 17 Nov. 2010
Romania’s Economy Ministry has drafted a bill that would compel energy suppliers to inform consumers on the origins of the electricity they are selling.

Romanian Public Sector Unitary Wage Grid Won’t Apply In 2011 – Draft

17:52, 17 Nov. 2010
The salaries of Romanian public servants will not be pegged to a wage grid in 2011, the total value of bonuses and compensation may not exceed 30% of their salary and the monthly incentives given to high performers will be capped at two base salaries per year.

Romanian President Says Govt Debt Growth Must Be Stopped

16:16, 17 Nov. 2010
Romanian President Traian Basescu on Wednesday called on Cabinet members to put a cap on government debt growth, saying Europe is still struggling with the crisis and some states are likely to enter a downward spiral because of state debt.

EXCLUSIVE: Romania Says Tax Cuts Not An Option Unless Economy Recovers

14:51, 17 Nov. 2010
Romania agreed to limit changes to its taxation system over the next period to ensure fiscal stability and said potential tax cuts won’t be considered until the economy grows again, according to the country’s additional letter of intent to a EUR13 billion deal with the International Monetary Fund.

EXCLUSIVE: Romania To Launch First MTN Issue Late 2010/Early 2011

14:50, 17 Nov. 2010
Romania's Finance Ministry will launch the first bond issue of its planned EUR7 billion medium term notes (MTNs) program at the end of 2010 or early 2011, according to the government’s letter of intent that will be sent to the International Monetary Fund.

EXCLUSIVE: Romanian Govt Pledges To Reduce In-Hospital Treatment, Drug Markup

14:47, 17 Nov. 2010
Romania's Government plans to limit in-hospital treatment next year to 10% of its 2010 level and reduce the price markup paid for drugs used in treating cancer, diabetes, HIV/AIDS, TBC to 1.5% for retail and 4% for wholesale purchases.

EXCLUSIVE: Romania Govt To Ensure Consumer Loan Ordinance Won’t Affect Ongoing Contracts

14:07, 17 Nov. 2010
The Romanian government agreed to work with the parliament to ensure that its emergency ordinance 50/2010 on consumer loans protects both consumer and bank rights, according to the country’s additional letter of intent to a EUR13 billion loan agreement with the International Monetary Fund.

EXCLUSIVE: Romania Says Will Cut More Public Sector Jobs In 2011

14:03, 17 Nov. 2010
Romania's Government pledged to continue layoffs in the public sector in 2011 to meet the terms set under a EUR13 billion loan from the International Monetary Fund, according to the country’s additional letter of intent to the IMF.

Turkish Low-Cost Carrier Pegasus Might Enter Romanian Market In Jan 2011

14:03, 17 Nov. 2010
Turkish low-cost carrier Pegasus might enter the Romanian market in January 2011 with a return flight on the route Bucharest- Istanbul.

ING Says Romania May Reach 2010 Deficit Target, Sees Limited Mkt Impact

13:33, 17 Nov. 2010
Recent budgetary indicators suggest Romania may be able to reach its year-end fiscal objectives, but the positive evolution could have only a limited impact on the market, due to the government’s repeated failure to lower the general arrears, according to a report from ING Bank Romania.