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Romania Ctrl Bank To Ensure Consumer Loan Ordinance Complies With EU Norms

13:44, 04 Nov. 2010
Romania's central bank will make a public presentation at the debates regarding the government ordinance 50/2010 on consumer loans to ensure the act complies with the European directive in the field, central bank governor Mugur Isarescu said Thursday.

Romania Presents Tourist Brand In New York

13:44, 04 Nov. 2010
Romania’s tourist brand was presented Wednesday in New York, within an event that brought together experts in the tourism industry and American journalists.

Romania May Delay Euro Adoption If Fiscal Consolidation Unsuccessful – Ctrl Bk

12:55, 04 Nov. 2010
Romania should be ready to postpone the target for euro adoption if the government’s fiscal consolidation measures don’t receive social support over the next months, central bank governor Mugur Isarescu said Thursday.

Romanian Ctrl Bk Head: Higher Tobacco Taxes To Fuel Black Market

12:40, 04 Nov. 2010
Romanian central bank governor Mugur Isarescu Thursday said a new increase of the tobacco excise duty would put additional inflationary pressure and would fuel cigarette smuggling.

Romanian Retailers Expect Consumption To Keep Shrinking In ‘11

12:35, 04 Nov. 2010
Consumption is expected to continue declining in Romania next year, because of widening unemployment and lower consumer confidence, retailer representatives said at a seminar organized by Business Magazin.

Romanian Ctrl Bank Head Says Puzzled By Local Fuel Price Evolution

12:17, 04 Nov. 2010
Romanian fuel prices are not linked to the evolution of the main factors that are supposed to influence their trajectory, central bank governor Mugur Isarescu said Thursday.

Romanian President, PM, Deputy PM Discuss Education Bill Issue

12:04, 04 Nov. 2010
Romanian President Traian Basescu, Prime Minister Emil Boc and deputy Prime Minister Marko Bela are in talks Thursday following a Constitutional Court ruling acknowledging a legal conflict on constitutional grounds between the Executive and Parliament over the education bill.

Romania Central Bank Raises 2011 CPI Forecast To 3.4%

12:02, 04 Nov. 2010
Romania's central bank has revised upward its forecast on the 2011 annual inflation to 3.4% from 3.1% previously, central bank governor Mugur Isarescu said Thursday.

Romanian Telecom Op Romtelecom Posts Operating Loss, Lower Rev In Q3 Over Austerity

11:44, 04 Nov. 2010
Romanian telecom operator Romtelecom, owned by Greek OTE Group, registered operating loss of EUR13.9 million in the third quarter of 2010 and its revenues dropped by 6.5%, to EUR181.5 million, because of austerity measures and rising unemployment.

Romania Ranks 56th In WB’s Doing Business 2011 Report

11:05, 04 Nov. 2010
Romania lost one position and ranked 56th this year among 183 countries included in a World Bank report that investigates the ease of doing business by comparing regulations that enhance and constrain the companies' activity.

Romania’s September Net Salary Flat At RON1,340

10:10, 04 Nov. 2010
Romania’s net average salary in September was at 1,340 lei (EUR1=RON4.292), up a mere 0.1% compared with the previous month, the National Institute for Statistics said Thursday.

Bucharest Court OKs City Mall Owner’s Insolvency

18:03, 03 Nov. 2010
The Bucharest courthouse on Tuesday approved the insolvency request of Victoria Holding, the owner of City Mall shopping center in Romania’s capital city.

Fmr Romanian Defense Min Officials, FC Steaua Owner Becali Indicted In Land Exchange Case

17:03, 03 Nov. 2010
Romanian former Defense Ministry state secretary Dumitru Cioflina, former Defense Minister Victor Babiuc, the latter’s daughter, Ioana Babiuc, and football club Steaua owner George Becali were indicted in a case regarding exchanges of land between the ministry and the businessman.

Romanian President Says Many Nomadic Roma Steal To Live

16:59, 03 Nov. 2010
Romanian President Traian Basescu said Wednesday that moving from place to place is a cultural objective of nomadic Roma and restricting this right would mean destroying one of their cultural pillars, while admitting that many "traditionally make a living from theft."

Romanian Environment Ministry Seeks To Improve 2011 Clunkers Program

15:44, 03 Nov. 2010
The Romanian Environment Ministry and the Environment Fund Administration are looking into ways to enhance the country’s 2011 clunkers program, and increasing the number of scrapping vouchers an individual can use is one of the measures considered.

Romanian Govt To Consult Parliament On Education Bill Procedure

15:44, 03 Nov. 2010
Romania’s Government will consult with the Parliament about procedures to pass the education law following a Constitutional Court ruling Wednesday acknowledging a legal conflict on constitutional grounds between the two state powers, said government spokeswoman Ioana Muntean.

Romania Ctrl Bk Ups Year-End CPI Forecast To 8.2% – Sources

15:07, 03 Nov. 2010
Romania's central bank has revised upward its forecast on year-end inflation to 8.2% in 2010 from a previous 7.8%, people familiar with the matter told MEDIAFAX.

Oxford Economics: Romania To Remain In Recession Until 2012

14:52, 03 Nov. 2010
Oxford Economics has revised downward its forecast on Romanian economy to minus 1% in 2011 from a growth of around 1% previously, citing weak economic indicators and political risks.

Romania Welcomes Russia’s Stance On Transnistrian Conflict

14:47, 03 Nov. 2010
Romanian President Traian Basescu said Wednesday in Ljubljana that he welcomes Russian President Dmitri Medvedev’s recent standpoint on solving problems regarding Transnistria.

Military Court Rejects Romanian Ex-General Stanculescu’s Request For Remission

14:20, 03 Nov. 2010
The Bucharest Military Court on Wednesday rejected the request of former high-ranking general Victor Athanasie Stanculescu to have his 15-year prison sentence for aggravated manslaughter discontinued.

Romanian Constitutional Court Notes Legal Conflict Between Parliament, Government

14:04, 03 Nov. 2010
Romania's Constitutional Court said Wednesday that it has taken notice of a legal conflict on constitutional grounds between the Parliament and Government, following the Executive's decision to pull the education bill from the Senate.

ING: Romania Ctrl Bk Likely To Miss New CPI Targets

13:39, 03 Nov. 2010
Romania's central bank is likely to miss its “ambitious” inflation targeting set for the next years, because its monetary policy decisions will lack the required sternness, ING Bank Romania said in a report Wednesday.

Romanian Opp Liberals To Submit No-Conf Motion Over Public Sector Wage Law

13:31, 03 Nov. 2010
Romania’s opposition Liberal Party pledges to submit a no-confidence emotion if the Government seeks a confidence vote to adopt the IMF-required public sector wage law, liberal Eugen Nicolaescu said Wednesday.

PwC Sees Romanian GDP Growing 1.6% In 2011

12:47, 03 Nov. 2010
Romanian economy is likely to grow 1.6% in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4% next year, above the central bank’s upper band target of 4%, a PricewaterhouseCoopers (PwC) survey showed Wednesday.

Google Opens Office In Romania, Headed By Fmr Microsoft Director

12:34, 03 Nov. 2010
Multinational corporation Google opened an office in capital Bucharest on November 1, 2010, which will be headed by former Microsoft Romania business and marketing director Dan Bulucea, said the company.

Romanian President Traian Basescu On Official Visit To Slovenia Wednesday

11:16, 03 Nov. 2010
Romanian President Traian Basescu arrived Wednesday in Ljubljana, Slovenia, for an official visit at the invitation of Slovenian President Danilo Turk.

E.ON Gaz Romania, E.ON Moldova Furnizare To Merge

10:01, 03 Nov. 2010
Gas distributor E.ON Gaz Romania and electricity supplier E.ON Moldova Furnizare, subsidiaries of German utilities group E.ON, will merge with a view of delivering integrated energy supplying services.

DNA Testing Confirms Late Romanian Dictator Buried In Bucharest Cemetery

09:20, 03 Nov. 2010
Romanian medical examiners have determined the remains dug up this summer at a military cemetery in capital Bucharest belong to late communist dictator Nicolae Ceausescu, who was overthrown and executed together with his wife 21 years ago.

Romanian Govt To Allot Funds For Investments In 1H 2011

20:28, 02 Nov. 2010
Romania's Government agreed with its foreign lenders to allot funds for investments in the first half of next year, in order for them to be used more efficiently, Prime Minister Emil Boc told the ministers managing European money, in a meeting of the committee on community funds on Tuesday.

Romanian President Basescu Sends Controversial Bills Back To Parliament

19:11, 02 Nov. 2010
Romanian President Traian Basescu on Tuesday sent the Parliament back two bills, one reducing the VAT on food, the other exempting low pensions from the income tax, requesting they be re-examined.

Romanian Dacia New Registrations Dn 13.2% On French Mkt In October

15:43, 02 Nov. 2010
Registrations of Romanian new Dacia cars in France dropped 13.2% on the year in October, to 5,646 units, as registrations of foreign brands declined 17.4% on a market that shrunk 18.7%.

Bucharest Flat Prices Fell 12% In 10 Months – Survey

15:32, 02 Nov. 2010
Asking prices for flats in Bucharest dropped by an average 11.8% in the first ten months of the year, to some EUR1,315 per square meter, according to data provided by real estate website imobiliare.ro.

Romanian Intl Airport Henri Coanda Relaxes Taxi Services As Of Nov 15

15:15, 02 Nov. 2010
International Airport Henri Coanda in Otopeni, near Bucharest, will relax taxi services starting November 15, so that transporters which meet certain conditions will be allowed to offer transport services at the airport, the National Company of Bucharest Airports said in a press release Tuesday.

Romanian Govt Might Seek Conf Vote To Pass Public Sector Wage Law

14:53, 02 Nov. 2010
Romania’s Prime Minister Emil Boc said Tuesday the Government might seek a confidence vote in parliament to pass the IMF-required public sector wage law, but a final decision would be made within the ruling coalition.

Software Piracy Rate Down In Romania, Constant In EU, Rising Worldwide

14:37, 02 Nov. 2010
The rate of software piracy in Romania has dropped in the last two years, remained constant in Europe and is rising worldwide, according to data made public Tuesday by the Romanian Police Department, Business Software Alliance (BSA) and the General Prosecutor's Office.

KPMG: Romanian Real Estate Sector, Least Attractive In CEE For Banks

14:05, 02 Nov. 2010
Romania’s real estate sector is the least attractive in Central and Eastern Europe for banks, given the high number of non-performing real estate loans, according to a survey conducted by audit and business consultancy company KPMG.

Romanian Senate Raises Its Budget For 2011 By 30%

13:21, 02 Nov. 2010
The Romanian Senate adopted Tuesday with 86 votes in favor, two against and two abstentions its budget for 2011, which amounts to 127,900,000 lei (EUR1=RON4.2848), up about 30% compared to its budget for this year.

Romania Ctrl Bk Sets CPI Target At 3% For 2012, 2.5% As Of 2013

12:42, 02 Nov. 2010
Romania’s central bank Tuesday decided to keep the 2012 inflation target at 3%, with one percentage point variation band, and to adopt a flat multi-annual inflation target of 2.5%, plus/minus 1 percentage point, as of 2013.

Romania’s Tourist Brand Declared Genuine And Unique – Tourism Minister

12:39, 02 Nov. 2010
The Office of Harmonization for the Internal Market (Trade Marks and Designs), or OHIM, and the State Office for Inventions and Trademarks (OSIM) have declared Romania’s tourist brand genuine and unique, the country's Tourism Minister Elena Udrea said Tuesday.

Romania Central Bank Leaves Key Rate Unchanged At 6.25%

12:34, 02 Nov. 2010
Romania’s central bank Tuesday left its main interest rate at a record low of 6.25% a year for the fourth consecutive time as it continues battling rising inflation following a raise in the sales tax.