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Romania May Get Another IMF Loan Tranche By Yearend

12:09, 25 Oct. 2010
Romania may receive by the end of the year another tranche out of the EUR13 billion stand-by loan from the International Monetary Fund, a fund official said Monday.

Romanian IT Service Co Asesoft Takes Over Media Group Realitatea Media Mgmt

11:56, 25 Oct. 2010
Romanian IT service provider Asesoft took over the management of media group Realitatea Media, owned by Sorin Ovidiu Vintu, and plans to invest EUR75 million in the business in the next five years.

Romanian Diana Chelaru Wins Silver On Floor At 2010 Artistic Gymnastics World Championship

19:02, 24 Oct. 2010
Romanian gymnast Diana Chelaru on Sunday won the silver medal in floor exercise at the 2010 Artistic Gymnastics World Championship in Rotterdam, the Netherlands.

Romanian Ana Porgras Wins Gold On Beam At 2010 Artistic Gymnastics World Championship

17:23, 24 Oct. 2010
Romanian gymnast Ana Porgras on Sunday won the gold medal on balance beam at the 2010 Artistic Gymnastics World Championship in Rotterdam, the Netherlands.

U.S. Ambassador Says Expropriations, Poor Financing Hinder Constr Of Romania’s Transylvania Hwy

15:39, 24 Oct. 2010
U.S. Ambassador to Bucharest Mark Gitenstein told Pro TV in an interview Sunday that expropriations and the lack of solid financing sources are the main problems regarding Romania’s Transylvania Highway, built by U.S. constructor Bechtel.

EXCLUSIVE: Romanian Govt Starts Procedures To Introduce Highway Toll System

13:57, 24 Oct. 2010
The Romanian Government approved a draft act which introduces a highway toll system alongside the existing road toll system.

IMF Shakes Finger At Romanian Tax Amendment Proposals

18:40, 22 Oct. 2010
The International Monetary Fund analyzes all proposals that aim at changing taxes, but a change in the fiscal system may prove to be dangerous after some very difficult measures were implemented, said Jeffrey Franks, head of the IMF's mission to Bucharest.

IMF Mission Head, Romanian Pres Talk On VAT, Pension Tax Exempt

18:39, 22 Oct. 2010
Jeffrey Franks, head of the International Monetary Fund mission to Bucharest, Friday said Romania's president Traian Basescu may act to correct the situation resulted after parliament's decisions reducing VAT for basic foods and exempting low pensions from taxation.

Romanian President Hasn’t Yet Received Two Hot-Button Bills

14:28, 22 Oct. 2010
Romanian President Traian Basescu said Friday that he will express a standpoint regarding the bills reducing the value added tax on basic foods to 5% and lifting the income tax off pensions lower than 2,000 lei (EUR1=RON4.3083) after he reads the two documents.

Romanian PM Summons Ministers For Talks On Upcoming Confidence Vote On Education Bill

12:46, 22 Oct. 2010
Romanian Prime Minister Emil Boc summoned the members of his Cabinet and their advisers for talks on Friday on the confidence vote the Government will seek in Parliament to pass the education bill, people close to the matter told MEDIAFAX.

Over 80,000 Expected To Protest Wednesday, As Romania’s Govt Faces No-Conf Vote

11:43, 22 Oct. 2010
Romania’s major trade unions said Friday over 80,000 people will stage a major protest in capital Bucharest on October 27, when the Government faces a no-confidence vote in Parliament.

Romania Daewoo–Mangalia Shipyard Employees Protest Outside Local Town Hall

11:42, 22 Oct. 2010
About 1,000 employees of shipyard Daewoo-Mangalia Heavy Industries (DMHI) in southeastern Romania, who have been on full-blown strike for the past two weeks over employers’ refusal to hike their salaries, staged a protest on Friday at the headquarters of the Mangalia town hall.

Romanian State Employees Handling EU-Funded Projects Might Get 75% Salary Raise

20:27, 21 Oct. 2010
Romanian public sector employees handling projects financed from European Union funds might benefit from a 75% raise in salaries, which would be covered from funds assigned for the respective projects, not from the state budget funds, says a draft emergency decree proposed by the Labor Ministry.

IMF: Romania’s Tax Cut Issue Must Be Resolved By Nov 1

19:20, 21 Oct. 2010
Romanian government must find a way to resolve the issue created by a parliament decision to lower the sales tax for food items and exempt small pensions from the income tax before the International Monetary Fund completes its assessment mission in Bucharest, IMF mission head Jeffrey Franks said.

Erste: Joint CEE5 Government Debt Smaller Than Greece

18:12, 21 Oct. 2010
Overall government debt in Romania, Croatia, the Czech Republic, Slovakia and Hungary reaches around EUR200 billion, equal to nearly 70% of Greece’s government debt of EUR300 billion, Erste group said in a report Thursday.

Romania’s New Deal With IMF To Include EU Funds

17:19, 21 Oct. 2010
Romania’s potential new financing agreement with the International Monetary Fund will also include a loan accord with the European Commission, similar to the one signed in 2009, Romanian representative to the IMF, Mihai Tanasescu, said Thursday.

Romania Constitutional Court Rejects Draft Acts On Compensations For Fmr Political Prisoners

16:32, 21 Oct. 2010
Romania’s Constitutional Court ruled unconstitutional several normative acts regarding moral compensations paid to former political prisoners during the communist regime.

Romanian Nurse Charged With Manslaughter To Be Released From Custody

15:25, 21 Oct. 2010
The Bucharest Court Thursday ruled to release from arrest nurse Florentina Cirstea charged with manslaughter in the case involving a fire in the Giulesti hospital’s maternity ward in August this year.

Cigarette Smuggling In Romania At 24.4% Of Overall Market In Sept – Survey

14:45, 21 Oct. 2010
Smuggled cigarettes accounted for 24.4% of the total Romanian cigarette market in September, compared with 21.3% in July, but it remains below the 36.2% level in January, according to a survey by Novel Research.

Romanian Economy Ministry-Owned Cos Met Budget Targets – IMF

12:17, 21 Oct. 2010
The three companies controlled by the Romanian Economy Ministry under monitoring by the International Monetary Fund have met the personnel spending targets established, said Thursday Mihai Tanasescu, Romania's representative to the IMF.

Romania, IMF Discuss Oltchim Privatization

12:10, 21 Oct. 2010
Romanian authorities and representatives of the International Monetary Fund discussed Thursday about the privatization of Oltchim (OLT.RO) and Cuprumin, as well as stake sales in other state-owned energy companies, the Economy Ministry said in a statement.

IMF, Romania Agree On 2011 Budget Figures – Mission Head

18:16, 20 Oct. 2010
The International Monetary Fund and the Romanian authorities have already agreed on next year's budget parameters, Jeffey Franks, head of the IMF mission to Bucharest, said Wednesday.

Romanian Fraud Convict Ioana Maria Vlas To Be Released On Parole

17:10, 20 Oct. 2010
Romanian Ioana Maria Vlas, sentenced to ten years in prison for fraud, will be released on parole after a court in Prahova, southern Romania, on Wednesday overruled prosecutors’ request to keep Vlas under arrest.

Romania Budget Revenue Would Drop By RON700M With New Pension Tax Exemption Cap

16:17, 20 Oct. 2010
Exempting pensions lower than 2,000 lei (EUR1=RON4.3084) from income tax, as per a bill the Romanian Parliament passed Tuesday, would translate into budget revenues lower by RON700 million (EUR167 million).

Romanian Senate’s Legal Committee Agrees With Reexamination Of More Pension Bill Articles

16:15, 20 Oct. 2010
The Romanian Senate’s committee for legal matters decided Wednesday that more articles of the country’s unitary pension bill will be reexamined, besides the article indicated by President Traian Basescu in his reexamination request.

Romania’s Move To Cut VAT, Lift Pension Tax Calls For Careful Assessment – IMF

16:09, 20 Oct. 2010
Romanian parliament’s decision to cut the value added tax for basic food items and lift a 16% tax on small pensions must be “carefully” analyzed to establish its possible effects on the economy, said Mihai Tanasescu, Romanian representative to the International Monetary Fund.

Romanian Subway Co Metrorex To Organize Auction For Feasibility Studies To Build New Mainline

14:59, 20 Oct. 2010
Romanian state-owned subway company Metrorex wants to organize an auction for prefeasibility and feasibility studies for works on a new subway mainline which will link southwestern Bucharest neighborhood Rahova to northeastern Colentina, the company said in a press release Wednesday.

Romania Ranked Seventh Among States Prepared For Internet Applications Of Tomorrow

14:30, 20 Oct. 2010
Romania is ranked seventh among 14 states considered to be prepared for internet applications of tomorrow, such as HD internet protocol television and high quality video communications, which will be adopted on a widespread scale in the upcoming years.

Romania Leu’s Exch Rate Weakens To 4.3 Units Vs Euro

13:35, 20 Oct. 2010
The Romanian leu edged lower against the euro in mid trade Wednesday and the central bank’s reference lost 0.3% on the day at 4.3084 units, a fresh three-and-a-half months low.

Romania Most Pessimistic About Economy, Finances In Emerging Europe – Survey

13:28, 20 Oct. 2010
Romania is the most pessimistic country in Eastern Europe when it comes to consumer confidence and financial expectations, with the two indicators dropping from 120 points to less than 40 in the past two years, a survey from the International Monetary Fund showed.

Romanian Ruling Party Lawmakers Say They Voted For Lower VAT On Food, Tax-Exempt Pensions By Mistake

12:33, 20 Oct. 2010
Lawmakers of Romania’s ruling Democratic Liberal Party said Wednesday they voted in favor of two bills that lack government support by accident and will move to have them annulled.

Almost 200 Driving Instructors Protest In Bucharest Over Low Pay

12:02, 20 Oct. 2010
Almost 200 driving instructors are protesting Wednesday in Bucharest’s Constitutiei Square, displeased that driving training fees are cashed by the driving school, which subsequently pays them based on a service provision contract.

Romanian Parliament Assembles To Hear Opposition’s No-Confidence Motion

11:15, 20 Oct. 2010
Romania’s two chambers of Parliament have assembled in plenary meeting Wednesday to hear the opposition’s no-confidence motion, which is to be debated and put to the vote next Wednesday.

Romania, IMF To Analyze Raise In Minimum Wage

10:11, 20 Oct. 2010
Romanian authorities and the International Monetary Fund need to analyze a potential raise in the country’s minimum wage because such a move could hurt the economy, IMF mission head Jeffrey Franks said Wednesday ahead of talks at the Labor Ministry.

Over 50,000 Firms In Romania To Go Bankrupt If Minimum Wages Hiked – SMEs Council Head

20:04, 19 Oct. 2010
Romanian National Council of Private SMEs head Ovidiu Nicolescu said Tuesday that raising minimum wages will bankrupt at least 50,000 firms and will increase the number of unemployed people.

Deloitte C Europe Technology Fast 50 Chart Includes 7 Romanian Cos

18:29, 19 Oct. 2010
Romania ranks fourth, with seven companies, in the Deloitte Central Europe Technology Fast 50 chart, which tracks the evolution of IT company revenues in the 2005-2009 period.

Romanian Fin Ministry Employees Resume Protests Doubtful About Receiving Unpaid Bonuses

17:09, 19 Oct. 2010
About 100 employees of the Finance Ministry ceased activity Tuesday afternoon, as they doubt they would receive the wage bonuses promised by authorities, said National Public Servant Union (SNFP) leader Sebastian Oprescu.

Romanian Parliament Adopts Bill Speeding Up Trials

14:45, 19 Oct. 2010
Romania’s Chamber of Deputies adopted Tuesday with 279 to three votes and four abstentions a bill aiming to speed up trials in the country’s legal system.

Romanian Nat Pwr Holdings Setup Will Boost Energy Price – Survey

14:33, 19 Oct. 2010
The two Romanian national power holdings will take out small companies activating on the local energy market, and the result will be a continuous increase in energy prices for end consumers, according to a survey drawn up by the Politehnica University of Bucharest.

Romanian Gas Prices Should Not Go Up This Winter – Econ Min

14:20, 19 Oct. 2010
Romanian Economy Minister Ion Ariton told a press conference Tuesday that, in his opinion, natural gas prices should not grow this winter, on any consumer segment.