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Romania 1H Current Account Gap Widens 50% To EUR3.65B

10:18, 11 Aug. 2010

Romania's current account deficit widened 50% to EUR3.65 billion in January to June, from a gap of EUR2.4 billion in the same period a year earlier, largely due to a decrease in the current transfers surplus, central bank data showed Wednesday.

VAT Increase Pushes Romania Inflation Up To 7.14% In July

10:10, 11 Aug. 2010

Romanian consumer prices spiked by nearly two and a half percentage points to 2.58% in July from a month earlier, while the annual inflation accelerated to 7.14%, the country’s statistics institute INS said Wednesday.

Romanian Lower Chamber Legal Committee Adopts Restored Integrity Agency Bill

17:04, 10 Aug. 2010

The committee for legal matters of the Romanian Chamber of Deputies unanimously adopted the bill on the National Integrity Agency, which includes provisions previously rejected by the Senate and which will be debated in a special Chamber plenary meeting on August 16.

Romanian Shopping Center Rents Hit 8-Year Low

16:26, 10 Aug. 2010

Rents in Romanian shopping centers dropped to the levels see in 2002, when the market was in early stages of development, according to a study by real estate consultancy company Jones Lang LaSalle.

Romanian Union Leaders Required To Submit Wealth Statements – Amended Integrity Bill

15:42, 10 Aug. 2010

The committee for legal matters of the Romanian Chamber of Deputies decided Tuesday, during debates on the National Integrity Agency bill, to make it mandatory for union leaders and members of the Economic and Social Council to submit wealth statements.

Romanian Senators To Hold Plenary Meeting On August 24

14:52, 10 Aug. 2010

Romanian Senate’s Standing Office on Tuesday decided senators will convene in special session on August 16 and a plenary meeting will be held on August 24.

Romanian President Inspects Dam Works In Flood-Prone E Romania

12:59, 10 Aug. 2010

Romania’s President Traian Basescu visited Tuesday the eastern village of Saucesti, which was heavily affected by floods earlier this summer, and urged constructors to finish works on the dam protecting the village by winter.

Romanian PM Asks Lower Chamber Legal Committee To Restore Integrity Agency Bill

12:41, 10 Aug. 2010

Romanian Prime Minister Emil Boc said Tuesday that the Government endorses the National Integrity Agency bill in the form initially adopted by the Chamber of Deputies and asked the committee for legal matters to reintroduce the provisions previously rejected by the Senate into the bill.

Romania’s Population Decreased By 1,891 People In June 2010

10:52, 10 Aug. 2010

Romania’s population has kept its downward trend and decreased by 1,891 people in June from May, the National Institute of Statistics (INS) said Tuesday.

Romanian PM Boc Asks Ministers To Draft Heating Subsidy Options Within Ten Days

19:04, 09 Aug. 2010

Romanian Prime Minister Emil Boc asked the ministers to present a report on options for heating subsidies by August 19, Government officials announced Monday.

Analysts See Big Surge In Romania’s July Inflation After VAT Hike

18:40, 09 Aug. 2010

Romanian annual inflation is expected to accelerate considerably in July, pushed by a five-percentage-point increase in the value added tax level, analysts said Monday.

Romanian Dacia Logan Sales In Russia Up 15% In Jan-July 2010

18:05, 09 Aug. 2010

Romanian carmaker Dacia sold 35,311 Logan models in Russia in the first seven months of 2010, up 15% from 2009, ranking fifth among the best-sold brands, in a market which grew 9%, to 963,688 cars.

Fitch Affirms Romania At ‘BB+’; Outlook Stable

16:16, 09 Aug. 2010

Fitch Ratings on Monday affirmed Romania's long-term foreign and local currency issuer default ratings (IDRs) at 'BB+' and 'BBB-' respectively, with stable outlooks, citing the country’s improved external position and sufficient government action to cut the budget deficit.

Malware Threats In Romania Doubled In 1H, To 1.6M – BitDefender

12:55, 09 Aug. 2010

The number of malware threats in Romania has doubled in the first half of the year, to 1.6 million, according to Romanian software security solutions provider BitDefender.

Romania Jan-June Trade Gap Widens To EUR4.7B

10:15, 09 Aug. 2010

Romania’s trade deficit widened to EUR4.7 billion in the first half of the year, from EUR4.68 billion in the same period a year earlier, the National Statistics Institute said Monday.

Police Detain Driver Who Injured Four During Motorcycle Race In W Romania

09:24, 09 Aug. 2010

The man who drove his car onto the runway of the airport in Caransebes, western Romania, during a motorcycle race and injured four people has been detained for 24 hours and prosecutors will ask a court for a 29-day arrest warrant.

Romania PM Says Unafraid Of Opposition No-Confidence Vote – Been There, Done That

17:14, 07 Aug. 2010

Romanian Prime Minister Emil Boc said Saturday he is not afraid of a no-confidence motion the opposition plans to put to the vote this fall saying he’s been through such motions before and his government has survived.

Romanian Govt Plans To Finish Four Beltways This Year, Continue Works On Highways – PM

14:33, 07 Aug. 2010

Romanian Prime Minister Emil Boc said Saturday, in the eastern city of Iasi, authorities plan to finish works on beltways around Sibiu, Cluj, Turnu Severin and Lugoj and continue works on two highways.

Hagi Borrows EUR4.2M From Romanian BRD For „Football Academy”

14:00, 06 Aug. 2010

Romanian former football icon turned businessman Gheorghe Hagi signed two loan agreements with BRD-Groupe Societe Generale (BRD.RO), for EUR3.5 million and, respectively, EUR665,000, to finance some of the investments at his “Gheorghe Hagi” Football Academy.

Romania Ctrl Bk Chief Says Euro Adoption Target Needs Reexamination

13:49, 06 Aug. 2010

Romania's central bank must reexamine its self-imposed target for euro adoption as of January 2015 to see if the deadline is still feasible, central bank governor Mugur Isarescu said Friday.

Romania Ctrl Bk: Govt Spoke Too Soon About Public Sector Pay Hikes

12:37, 06 Aug. 2010

Romanian authorities spoke too soon when they said public wages might increase by 10% on average in 2011, because there can be no pay raises without a reshuffling of the sector, central bank governor Mugur Isarescu said Friday.

Romanian Entrepreneurs Compelled To Return Funds If EU Projects Carried Out Illegally – PM

12:15, 06 Aug. 2010

Romanian Prime Minister Emil Boc Friday warned the representatives of small and medium enterprises (SMEs) that they will be compelled to return the money granted by the European Union if their EU-financed projects are not transparent and do not observe the law.

Romania Ctrl Bank Sees CPI Up By 3% After VAT Increase

12:03, 06 Aug. 2010

The Romanian Government’s recent move to raise the value added tax level by five percentage points will likely trigger a 3% increase in consumer prices, central bank governor Mugur Isarescu said Friday.

Romania To Use Any Future Intl Loans For Investments Only – PM

12:02, 06 Aug. 2010

Any future loan Romania might take will be used to fund investments and development projects only and money going into consumption will come from the country’s own economy, Prime Minister Emil Boc said Friday.

Romania Ctrl Bk Raises 2011 Inflation Forecast To 3.1%

11:53, 06 Aug. 2010

Romania's central bank revised upward its inflation forecast for 2011 to 3.1% from the previous 2.8%, central bank governor Mugur Isarescu said Friday.

Western Half Of Romania Under Heavy Rain Advisory Friday, Saturday

10:38, 06 Aug. 2010

Romanian weather authorities issued a yellow code advisory for heavy rain and thunderstorms expected in 17 counties in the western half of the country Friday afternoon through Saturday evening.

Romanian Pupils Win Gold, Bronze At International Geography Olympiad

19:43, 05 Aug. 2010

Romania’s team won two gold and one bronze medals at the International Geography Olympiad in Taiwan, which welcomed 108 contestants from 27 countries, Romania’s Education Ministry said Thursday.

Romanian Union Head: Raising Public Sector Wages By More Than 10% Impossible In 2011

17:39, 05 Aug. 2010

Cartel Alfa union leader Bogdan Hossu on Thursday said public sector wages in Romania won’t be raised more than 10% in 2011, considering that the salary fund will be lower by 15% - 20%, compared to 2010.

Gabriel Resources Spent EUR11.6 Million On Rosia Montana Project In 2010

15:53, 05 Aug. 2010

Gabriel Resources, the majority stakeholder in Rosia Montana Gold Corporation, reported CAD28.2 million (EUR21 million) in first semester losses, having spent CAD15.6 million (EUR11.6 million) on the development of its mining project in the Apuseni Mountains in western Romania.

Bread Price Could Rise 30% In Fall, Says Industry Union Leader

15:26, 05 Aug. 2010

The price of bread in Romania could increase by as much as 30% in fall this year on higher wheat prices, said Thursday Niculae Stefan, head of the National Federation of Unions in Agriculture, Agrostar.

Romanian Tourism Min Says Isn’t Considering Running For Bucharest Mayor

14:54, 05 Aug. 2010

Romania’s Tourism Minister and interim president of the Democratic Liberal Party’s branch in capital Bucharest, Elena Udrea, told a news conference Thursday that she si not yet considering running for general mayor of Bucharest.

One Third Of Romanians Want To Be Self-Employed Within Next 10 Years – PwC Study

13:55, 05 Aug. 2010

Almost a third of Romanians say they wish to start their own business in the next decade, significantly above the global average, while 40% would like to enjoy a better work-life balance, according to a study by PricewaterhouseCoopers (PwC) called “Managing Tomorrow's People”.

Romanian TV Producer Charged With Blackmail Released From Arrest

13:40, 05 Aug. 2010

Romanian TV producer, charged with blackmail along TV station owner Dan Diaconescu, has been released from custody after the Bucharest Court ruled Wednesday he may be investigated at large.

Romanian Govt Pledges To Annul Acts Cutting Wages In Ctrl Bk, Financial Regulators

13:14, 05 Aug. 2010

Romania’s Government pledged to annul its acts reducing the salaries of the central bank and other financial regulation authorities by 25%, according to the additional letter of intent to the stand-by agreement with the International Monetary Fund.

Romania To Select Broker For Petrom Stake Sell By Mid-Sept

13:06, 05 Aug. 2010

Romanian Economy Minister Adriean Videanu on Thursday said the ministry will select a broker by mid-September to sell nearly 10% in leading oil company OMV Petrom (SNP.RO).

Romania Banking Sector Might Close 2010 On Loss – BCR Head

12:56, 05 Aug. 2010

Romanian banks might post an aggregated loss this year, under local accounting standards, on increasing risk costs, said Thursday Dominic Bruynseels, chief executive officer at local lender Banca Comerciala Romana, or BCR.

Romanian Romtelecom’s 2Q Revenues Down 11.1%, To EUR178.7M

12:06, 05 Aug. 2010

Romanian hard-line telephony operator Romtelecom, owned by Greece’s OTE, reported operating revenue down 11.1% on the year in the second quarter, to EUR178.7 million, while its EBITDA dropped 59.7%, to EUR24.4 million on difficult economic conditions, OTE said in a statement Thursday.