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Romania’s Population Decreased By 6,979 People In Dec 2010

11:31, 14 Feb. 2011
Romania's population decreased by 6,979 people on the month in December 2010, according to data released Monday by the National Statistics Institute (INS).

Romanian MPs Draft Bill Forcing Supermarkets To Designate Areas For Traditional Romanian Products

11:28, 14 Feb. 2011
Two Romanian lawmakers have submitted a bill in Parliament that would force supermarkets to have special designated areas for traditional Romanian products, in a bid to support the local economy.

Romanian Electrica Serv Cut 1,400 Jobs This Year

11:27, 14 Feb. 2011
Romanian Electrica Serv, the maintenance unit of state-run electricity supplier and distributor Electrica, cut some 1,400 jobs since the beginning of the year, a measure included in the company’s restructuring process.

Romania Jan CPI +0.8% On Month, Annual Inflation Eases To 7%

10:59, 14 Feb. 2011
Romanian consumer prices rose 0.77% on the month in January, while the annual inflation eased to 6.99%, the country’s statistics institute INS said Monday.

Bucharest Hotel Occupancy Rate Seen 10% Higher In 2011

15:48, 13 Feb. 2011
The occupancy rate of Bucharest's three- and four-star hotels will rise this year by about 10%, having increased in 2010 to 42% from 39%, according to the Bucharest Benchmarking Report, developed by consulting firm Fivestar Hospitality.

Romania Plans To Write Off Debts Of Defense Industry Cos

13:22, 13 Feb. 2011
Romania plans to write off debts of 1 billion lei (EUR1=RON4.2649) of companies in the defense industry, citing a EU norm which allows the protection of the national military interest and arguing that foreclosing their assets would impact defense capabilities.

Romania’s Top Two Road Passenger Carriers Expect 10% Growth This Year

13:13, 13 Feb. 2011
Romania's top two road passenger transporters expect 10% higher turnover this year, one of them hoping for a better economic environment, the other counting on people traveling in search of work.

Romanian Dacia Duster Was Best Sold SUV On Local Market In 2010

13:12, 13 Feb. 2011
The Dacia Duster, Volkswagen Tiguan and Ford Kuga were the best sold SUVs on the Romanian market in 2010, with the Duster far in the lead, thanks to a market share of almost 40%, according to the data of the Romanian Car Producers and Importers Association (APIA).

Romanian Banks Post First Annual Loss Since 1999

12:52, 13 Feb. 2011
Romanian banks reported combined losses of 304 million lei (EUR1=RON4.2649) in 2010, for the first time in 11 years, people familiar with the matter told MEDIAFAX Friday.

Romanian Family Doctors Reject Healthcare Contract, Threaten Lawsuit Against Govt

18:25, 12 Feb. 2011
Romanian family doctors decided Saturday not to sign the frame-contract with the National Health Insurance House and are prepared to take the government to court, over provisions which breach the rights of patients and physicians.

Romanian Comm Min To Run EUR84M Project For Universal Internet Access

16:12, 12 Feb. 2011
Romanian Communications Minister Valerian Vreme said Saturday that his ministry will carry out a EUR84 million project (funded by the European Union) to provide Internet access to the remaining unconnected areas in the country.

Bancpost: Romania Economic Recovery Threatened By High Inflation

19:21, 11 Feb. 2011
Romanian economic recovery could be slowed down by a high inflation in 2011, as rising food and fuel prices on international markets threaten to drive local prices up, Dan Bucsa, chief economist at Romanian bank Bancpot said Friday.

Romanian PM, Social Partners Fail To Agree On Collective Labor Contracts

17:24, 11 Feb. 2011
Romanian Prime Minister Emil Boc and social partners on Friday failed to find common ground on issues concerning national collective work contracts and a final decision on the changes to the Labor Code will be taken by the ruling coalition next week.

Romanian PM, Unions, Employers Resume Talks On Labor Code

14:28, 11 Feb. 2011
Romanian labor union and employer association representatives on Friday resumed talks with Prime Minister Emil Boc on the planned changes to the Labor Code, with national collective labor contracts at the forefront of debate.

Romanian State-Run Railway Co To Close 20% Of Network Unless It Outsources Railway Maintenance

12:58, 11 Feb. 2011
Romania’s state-owned railway company CFR SA will close 20% of the country's railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance, reads the letter of intent agreed upon by the Government and the International Monetary Fund.

Dacia, Nokia, Petrom, Rompetrol, Romania’s Top Exporters In 2010

12:49, 11 Feb. 2011
Romanian carmaker Automobile Dacia, the Romanian unit of Finnish mobile giant Nokia, oil company OMV Petrom and oil refinery Rompetrol Rafinare were the country’s top exporters in 2010 both in the European Union and outside the EU, the Economy Ministry said Friday.

Romanian MP Investigated For Corruption Under Travel Ban

11:34, 11 Feb. 2011
Romanian democrat liberal MP Dan Pasat, who is being investigated on charges of blackmail, was placed under a travel ban.

Romania 2010 Current Account Deficit Widens 5% YY To EUR5.2B

11:07, 11 Feb. 2011
Romania's current account deficit widened 5% to EUR5.16 billion in 2010, from a gap of EUR4.91 billion in the previous year, due to the lower current transfers surplus and an increasing deficit of the incomes balance, central bank data showed Friday.

EXCLUSIVE: Romania Ctrl Bank To Report EUR2B Drop In Reserves Under IMF Deal

10:51, 11 Feb. 2011
Romania’s central bank has pledged to consult with the International Monetary Fund if its reserves are to drop by over EUR2 billion in any given month during the country’s two-year follow up agreement with the fund, according to a draft letter of intent agreed with the IMF.

EXCLUSIVE: Romania Delays Romgaz Floating Until 1H 2012

10:34, 11 Feb. 2011
The Romanian Government has delayed until the spring of 2012 the sale of a 15% stake in natural gas producer Romgaz Medias, according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romania May Rethink Entire Energy Strategy

10:30, 11 Feb. 2011
Romanian government pledged to search an alternative strategy to overhaul its energy system if its current plans to set up two national champions fail to produce the desired results by year-end, according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romanian Office Checking High Wealth Individuals Operational By August

10:14, 11 Feb. 2011
The Romanian state office tasked with checking high net wealth individuals will be staffed by end-March and operational by August 2011, according to the letter of intent agreed upon by the Government and the International Monetary Fund.

EXCLUSIVE: Romania To Sell Majority Stake In Oltchim In 2H/2012

10:10, 11 Feb. 2011
Romanian authorities are poised to hire an international consultant to prepare key-privatizations of state run companies, including chemical producer Oltchim SA (OLT.RO), according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romanian Energy Prices Adjusted To Market Rates Shortly

10:05, 11 Feb. 2011
Romanian government has pledged to adjust to market rates the energy and natural gas prices of existing contracts signed by state-owned companies as soon as possible, according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romania Searches Strategic Investor In Tarom Airline

10:03, 11 Feb. 2011
Romania will seek a strategic investor for state-run airline Tarom by end-2011, with a view toward full privatization when market conditions permit it, according to the country’s draft letter of intent agreed with the International Monetary Fund.

EXCLUSIVE: Romanian Govt To Allow State-Run Passenger Railway Co To Hike Ticket Prices

09:59, 11 Feb. 2011
Romania’s Government will allow state-run passenger railway company CFR Calatori to increase train ticket prices to better cover costs and render the company’s activity more effective, according to the Government’s letter of intent to the IMF, obtained by MEDIAFAX.

EXCLUSIVE: Romanian Govt To Revise List Of Compensated, Free Drugs, Cut Hospital Beds By 5,700

09:58, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to revise the list of compensated and free medicines with a view to reducing their number and replacing the remaining ones with cheaper drugs.

EXCLUSIVE: Romania To Outsource Railroad Maintenance, Or Close 30% Of Network

09:57, 11 Feb. 2011
Romanian state-run railway company CFR SA will close 1,000 kilometers of railway lines by end-August and a further 6000 km (30% of the country's railroad network) later, unless the state can outsource their maintenance through public tenders.

EXCLUSIVE: Romania To Continue Spending Cut Policies In 2012, Amend Heating Aid Legislation

09:55, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to continue spending cut policies in 2012 to bring the budget deficit down to 3% and revise the heating aid system by end-July, so subsidies will be granted only to people on low income.

EXCLUSIVE: Finance Ministry To Check Financial Indicators Of All State-Owned Cos

09:53, 11 Feb. 2011
Financial control of state-owned companies will be transferred to the Ministry of Finance from the respective ministries where they are subordinated to improve governance in the sector, the Romanian Government said in its letter of intent to the International Monetary Funds.

EXCLUSIVE: Romania To Allow Bucharest Public Transport Cos To Up Tariffs Beyond Inflation

09:52, 11 Feb. 2011
Romania’s Government has committed in negotiations with the International Monetary Fund to allow public transport companies in Bucharest, Metrorex and RATB, to hike their tariffs beyond inflation-indexing to allow them to cover their current expenses from revenues instead of subsidies.

Romanian Tourism Certification Process Sped Up

19:44, 10 Feb. 2011
Tourism classification certificates and licenses will be issued 30 days after the operator files the necessary paperwork, as per an order of the Romanian Minister of Tourism, which reduces the waiting period and introduces new requirements on pensions in rural areas.

Defense Strategy Adoption Put Off As Tax Evasion, Smuggling Listed As Threats – Romanian President

18:22, 10 Feb. 2011
Romanian President Traian Basescu said Thursday on public radio he believes that one of the reasons why the Parliament puts off the adoption of the country’s National Defense Strategy is that the document lists tax evasion and smuggling among threats to national security.

Romania’s Progress Under CVM Should Not Affect Country’s Schengen Accession – Minister

16:41, 10 Feb. 2011
Romania’s Interior Minister Traian Igas said Thursday, after a meeting with European Commissioner for Home Affairs Cecilia Malmstrom, the country’s progress under the Mechanism for Cooperation and Verification (CVM) should not bear upon its Schengen accession.

EC To Release Report On Romanian Justice Sector Friday – President

15:19, 10 Feb. 2011
Romanian President Traian Basescu said Thursday on public radio that the European Commission's report on Romania's justice sector will be released Friday at the latest.

Romania’s 2011 Clunkers Program To Be Similar To That In ‘10 – Environment Minister

13:30, 10 Feb. 2011
The Romanian clunkers program will continue this year, in a similar way to that in 2010, and the scrapping of cars will start around March 20 if the Environment Fund’s budget and guide are adopted next week, Environment Minister Laszlo Borbely told a news conference Thursday.

Bucharest Apartment Rents Fall By Up To 20% YY In Jan – Survey

12:52, 10 Feb. 2011
Rents for apartments in Romania’s capital city Bucharest dropped by 10% to 20% in January compared with the same period of 2010, with the highest fall in case of 4-room flats, according to a survey of AnunturiParticulari.ro real estate website.

Romanian Investigators Find Fifteen Other Weapons Stolen From Military Base In ‘09

12:09, 10 Feb. 2011
Romanian organized crime prosecutors found five AKM machine guns and ten pistols, stolen from the Romanian military base Ciorogarla, near Bucharest, in March 2009, hidden at Eugen Preda’s grandparents’ home, prosecutors said in a press release Thursday.

IMF: New Agreement Aims Keeping Romania On The Right Track

10:17, 10 Feb. 2011
Romania’s follow-up agreement with the International Monetary Fund sets a series of ambitious goals for the next two years, but not all of them will be completed by the end of the financial program, IMF mission chief Jeffrey Franks said late Wednesday.

Anticorruption Prosecutors Detain 97 Police, Customs Workers In W Romania

09:56, 10 Feb. 2011
Romania’s National Anticorruption Department has detained a total 97 border police and customs workers at border crossing points in western Romania suspected of corruption and smuggling.