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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.

Romania, Facebook Work Together To Promote Country As Tourist Destination

11:37, 02 Nov. 2010
Romania’s Tourism Ministry will collaborate with social networking website Facebook to promote the country as a tourist destination, minister Elena Udrea told a news conference Tuesday.

President Says Romania Can Spend RON39B On Public Sector Salaries In 2011

09:40, 02 Nov. 2010
Romanian President Traian Basescu said Monday evening on public television that Romania will be able to spend 39 billion lei (EUR1=RON4.2771) on public sector salaries in 2011, under the loan agreement with the International Monetary Fund.

Romanian President Traian Basescu Says Won’t Sign Tax-Lowering Bills Into Laws

09:38, 02 Nov. 2010
Romanian President Traian Basescu said Monday evening on public television that he won’t sign into laws the bills lowering VAT on food and exempting small pensions from income tax.

Romanian Ex General Mihai Chitac Dies After Long Illness

18:47, 01 Nov. 2010
Romania’s former high-ranking General Mihai Citac, 82, died Monday morning, around 10 a.m., at his home in capital Bucharest.

IMF: Romania Ctrl Bk Likely To Resume Easing Policy In H1 2011

18:32, 01 Nov. 2010
Romanian central bank could resume its monetary easing policy in the first half of 2011, after an increase in the sales tax introduced earlier this year has forced the process into a temporary halt, an official of the International Monetary Fund said Monday.

IMF: Arrears Of Romania’s 10 Biggest Money-Losing Cos At RON7B

17:59, 01 Nov. 2010
Romania’s top ten money-bleeding state companies have combined arrears worth 7 billion lei (EUR1=4.2771), an official of the International Monetary Fund said Monday.

Romanian Railway Passenger Carrier CFR Calatori To Lay Off 2,200 People In 2011

16:23, 01 Nov. 2010
Romanian railway passenger carrier CFR Calatori plans to lay off around 2,200 employees next year, 15% of its staff of 15,000, and invest EUR957 million by 2019 into engines, ticket dispensers and a train access gate control system.

Romanian PM Pledges To Sell Or Reorganize State-Owned Cos

14:53, 01 Nov. 2010
The Romanian Government will continue the privatization or restructuring of state-owned companies, but will keep majority stakes in strong firms such as gas transporter Transgaz (TGN.RO), Prime Minister Emil Boc said Monday after negotiations with the International Monetary Fund.

IMF: Romanian Minimum Wage Will Be Set Following Talks Btw Govt, Social Partners

14:44, 01 Nov. 2010
A final decision on the level of the minimum wage will be made after the Romanian Government holds talks on the matter with social partners, employers’ associations and unionists, IMF mission head Jeffrey Franks told a news conference Monday.

Romania PM Says 2011 State Budget Won’t Consider Tax-Lowering Bills

14:43, 01 Nov. 2010
Romanian Prime Minister Emil Boc said Monday the 2011 state budget won’t consider the two recently adopted bills lowering VAT on food and exempting small pensions from income tax because they would significantly widen the deficit.

Mig 21 Lancer Crashes In C Romania, Two Dead

14:37, 01 Nov. 2010
A supersonic jet fighter aircraft MiG 21 Lancer crashed Monday near Campia Turzii, central Romania, and the two members of the crew died.

Romania Must Adopt Public Wage Law, State Budget, Pension Law To Get Loan Tranche – IMF

14:27, 01 Nov. 2010
The public sector wage law, approving the 2011 state budget and pension reform are among the issues cited by the IMF as requiring that the next tranche of the loan be released to Romania in January, a month later than originally scheduled.

Romania, IMF To Discuss Follow-Up Deal In Q1 2011

14:25, 01 Nov. 2010
Romania and the International Monetary Fund will discuss the terms of a possible follow-up loan agreement at the fund’s next review mission to Bucharest in 2011, IMF mission head Jeffrey Franks said Monday.

IMF Sees Positive Q4 GDP Growth In Romania

13:53, 01 Nov. 2010
The International Monetary Fund on Monday estimated Romania economy will return to positive territory in the fourth quarter, followed by a more consistent growth of 1.5% in 2011.

IMF: Romania Should Keep Tax System Stable For Couple Of Years

13:13, 01 Nov. 2010
The International Monetary Fund recommended Romania maintained its tax system broadly unchanged for the next two years to ensure stability in the business and consumption sectors, IMF mission chief Jeffrey Franks said Monday.

IMF Requests Sale Or Liquidation Of Monitored Romanian Cos

13:05, 01 Nov. 2010
Romanian state-owned companies monitored by the International Monetary Fund and the European Commission widened losses in the last months, prompting the financial institutions to recommend their privatization or liquidation, Monday said Jeffrey Franks, chief of the IMF delegation to Romania.

IMF: Romania Should Change Consumer Loan Ordinance

12:53, 01 Nov. 2010
The International Monetary Fund and European Commission officials Monday insisted Romania changed its consumer loan ordinance to better suit lenders and customers alike, but declined to specify whether new aid from a EUR20 billion lifeline depends on the act being modified.