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Romanian Labor Committee Assigned To Complete Pension Bill Report By Sept 1

14:50, 04 Aug. 2010
The Standing Bureau of the Romanian Chamber of Deputies decided Wednesday to assign the labor committee to complete the report to the unitary pension law by September 1, said Chamber of Deputies Speaker Roberta Anastase.

Romania PM Says Govt Will Use Budget Revision Funds To Pay Some Of Its Largest Debts

14:33, 04 Aug. 2010
Romanian Prime Minister Emil Boc said Wednesday on public radio the Government will use funds earmarked at the budget revision due until August 20 in order to pay part of its largest debts, mainly debts amassed in the healthcare sector.

Romanian Public Sector Wages To Rise 10% Next Year, 13th Salary Scrapped – PM

14:29, 04 Aug. 2010
Public sector wages in Romania will increase about 10% next year compared to the slashed levels in July if the Government eliminates the 13th monthly salary, Prime Minister Emil Boc said Wednesday on public radio.

IMF: Romania Cut 30,000 Public Sector Jobs; Teachers Are Next

14:04, 04 Aug. 2010
Romania's Government has cut over 30,000 jobs in the public sector so far, nearly half of the 70,000 layoffs agreed with the International Monetary Fund, IMF mission chief Jeffrey Franks told MEDIAFAX Wednesday.

Hydrologists Issue Code Yellow Flood Alert For Rivers In C, S, W Romania

13:52, 04 Aug. 2010
Romanian hydrologists issued Wednesday a code yellow flood advisory for several rivers in the central, southern and western parts of the country and, due to precipitation expected in the upcoming 24 hours, waters could exceed alert levels by Thursday afternoon.

Romanian Lower Chamber To Convene In Special Session On Aug 16

13:50, 04 Aug. 2010
The Standing Bureau of the Romanian Chamber of Deputies decided Wednesday to call for a special plenary session on August 16, to debate a number of bills, including one regarding the National Integrity Agency.

Romania’s Employment Rate Among Lowest In EU – Eurostat

13:26, 04 Aug. 2010
Romania has one of the lowest employment rates in the European Union for people aged 15 to 64, of just 58.6% in 2009, while the European average is at 64.6%, the EU’s statistical office Eurostat said Wednesday.

IMF: Romania Should Wait Before Deciding On New Agreement

12:01, 04 Aug. 2010
Romania should not rush in to make a decision regarding a new agreement with the International Monetary Fund, as the opportunity of a new accord can’t be assessed without the economic figures for the next six months, IMF mission head Jeffrey Franks said Wednesday.

IMF Advises Against Romanian Public Sector Wage Hikes In ’11

11:57, 04 Aug. 2010
Romanian authorities could increase public sector wages next year, depending on the restructuring process, but the International Monetary Fund would recommend that salaries remain at current levels, Wednesday said Jeffrey Franks, head of the IMF mission to Bucharest.

IMF: Romania Can Meet 2011 Deficit Target Without New Budget Action

11:52, 04 Aug. 2010
The International Monetary Fund estimates Romania will reach its budget deficit target for 2011, provided the authorities are able to maintain current fiscal policy measures, IMF mission chief Jeffrey Franks said Wednesday.

IMF: Romania Needs No Monetary Policy Tightening After VAT Raise

11:41, 04 Aug. 2010
Romania’s recent increase in the value added tax rate will have a temporary negative impact on inflation, which should dissipate in the second half of 2011, and the central bank doesn't have to raise the rates, the International Monetary Fund said Wednesday.

IMF To Release New Funds To Romania Once Pre-Conditions Met

11:08, 04 Aug. 2010
The International Monetary Fund will release another EUR914 million of its EUR13 billion loan to Romania as soon as the government has fulfilled pre-conditions to reduce budget deficit, IMF mission chief Jeffrey Franks said Wednesday.

EU: Romania GDP To Shrink 1.9% In 2010

10:46, 04 Aug. 2010
Romania's economy will likely contract by 1.9% in 2010, hampered by weak domestic consumption and a bad agricultural year due to heavy flooding, a European Commission official said Wednesday.

Number Of Tourists Staying In Romania Dn 4.3% YY

10:29, 04 Aug. 2010
The number of tourists staying in Romania was 4.3% lower in June compared to the same month a year earlier, at 583,600, the National Statistical Institute said Wednesday.

Romania’s June Net Salary Down 0.4% On Month To RON1.422

10:25, 04 Aug. 2010
Romania's net average salary fell 0.4% on the month in June to 1,422 lei (EUR1=RON4.2371), but was still up 3.1% compared with the same month a year earlier, the National Statistics Institute said Wednesday.

Meteorologists Issue Code Yellow Rain, Gusty Wind Alert For 26 Romanian Counties

09:52, 04 Aug. 2010
Romanian meteorologists issued a code yellow alert for rain and gusty wind valid until Wednesday, 11 p.m., for 26 counties in the north, center, west and south-west of the country.

Romania OMV Petrom 2Q Net Profit Rises To RON718M

09:22, 04 Aug. 2010
Romanian leading oil company OMV Petrom (SNP.RO) Wednesday said its second-quarter net profit after minorities rose to 718 million lei (EUR1=RON4.2371), significantly above the RON10 million earnings reported in the year-earlier period.

Romanian Oltchim To Be Sold After Turning To Profit – Econ Min

15:46, 03 Aug. 2010
Romanian chemical plant Oltchim (OLT.RO) will be privatized after it swings to profit, Economy Minister Adriean Videanu said Tuesday.

Romania’s 1H Used Car Sales Via Dealers Up 20% On Yr – BDT

13:52, 03 Aug. 2010
Used car sales via dealers rose nearly 20% in the first half of 2010, and if this trend maintains, Romania's overall used car market will reach at the end of 2010 the level hit in 2008, officials with BDT, one of Romania’s major players on the local auto retail market, said Tuesday.

Romania Ctrl Bank To Leave Key Rate Unchanged At 6.25% – Analysts

13:50, 03 Aug. 2010
Romania’s central bank is likely to keep its key rate unchanged at a record low of 6.25% a year at the next monetary policy meeting due August 4, while lowering the minimum requirements on forex liabilities to 20% from 25% currently, analysts said Tuesday.

Apartment Prices In Romania’s Largest 6 Cities Fall 1% In July – Survey

13:46, 03 Aug. 2010
The average sale prices of apartments in Romania’s largest six cities dropped by 1% in average in July compared with the previous month, with the largest fall in the central city of Brasov, namely 3.2%, according to property website imobiliare.ro.

Romania’s Govt Asks IMF To Extend Pension Bill Adoption Deadline

12:19, 03 Aug. 2010
Romania’s Government asked the International Monetary Fund to extend until September 30 the deadline by which the unitary pension bill should be adopted in Parliament, after the IMF called on authorities to make sure the draft law is adopted by September 15, people close to the matter said Tuesday.

Romania June PPI +0.4% On Month, +6.2% On Year

10:43, 03 Aug. 2010
Romania’s industrial producer price index rose for the sixth consecutive month in June, fueled largely by increases in the mining and manufacturing sectors, the National Statistics Institute said Tuesday.

Romania Neither Considers, Nor Excludes New IMF Deal – Fin Min

10:00, 03 Aug. 2010
Romania’s Government is neither taking into account nor excluding sealing a new agreement with the International Monetary Fund, Finance Minister Sebastian Vladescu said Monday.

Two Israeli Choppers Make Emergency Landing In S Romania

09:51, 03 Aug. 2010
Two Israeli helicopters were forced to resort to emergency landing Tuesday morning on a field in Vulpesti, southern Romania, for a technical review, Romania’s Defense Ministry said.

Romanians Charged With Assaulting Bulgarian Security Guards Released From Arrest

09:42, 03 Aug. 2010
The Romanian CEO of Rompetrol Bulgaria, Sorin Octavian Nichita, and Ionut Panzaru, arrested Saturday for assaulting the security guards of Bulgarian Parliament Speaker Tsetska Tsacheva, were released Monday following a court ruling.

Romania’s 2011 Salary Fund, Public Sector Layoffs Allow Wage Rise – Fin Min

21:19, 02 Aug. 2010
Romania could raise salaries by an average of over 10% if 60,000 positions in the public sector are eliminated and considering a 2011 salary fund of 39 billion lei (EUR1=RON4.2463), Finance Minister Sebastian Vladescu said Monday.

Romania’s 2011 Draft Budget Eyes 2% Econ Growth, 4.4% Deficit

19:52, 02 Aug. 2010
Romania’s next year draft budget, discussed with the International Monetary Fund, stipulates a 1.5-2% economic growth and a budget deficit of 4.4% of the gross domestic product, Finance Minister Sebastian Vladescu said Monday.

Romanian Govt Approves Fiscal Code Application Norms

19:24, 02 Aug. 2010
Romania’s Government approved Monday the application norms for recent amendments to the Fiscal Code, which extend the tax pool and introduce social security contributions for income gained from copyright.

Romanian Ex-PM Radu Vasile Hospitalized

18:49, 02 Aug. 2010
Romanian former Prime Minister Radu Vasile was admitted on July 30 to Bucharest’s University Emergency Hospital with gastrointestinal problems which appeared after undergoing cytostatic treatment for his colon cancer, according to people close to his family.

Romanian Dacia Car Registrations In Spain Up 23.3% In July, To 1,016 Units

17:59, 02 Aug. 2010
Registrations of Romanian Dacia cars in Spain increased by 23.3% in July, to 1,016 units, from 824 units in the same interval in 2009, while the overall car market registered a 26.7% decline, according to data released by the Spanish association of car importers.

Romanian Homeowners Paying Full Utilities Bill Exempt From Penalties

17:21, 02 Aug. 2010
Romanian Conservative Party (PC) vice-president Bogdan Ciuca announced Monday that a PC-sponsored law, which forgives the late-payment penalties of homeowners who pay their entire utilities debts within 12 months, has entered force.

Romanian Opp Liberals To Meet IMF Officials For Talks On Anti-Crisis Measures

16:23, 02 Aug. 2010
Romanian opposition liberals will meet Tuesday with International Monetary Fund representatives for talks on the country’s economic situation, liberal vice-president Varujan Vosganian said Monday.

Romanian Police Union Threatens Protests Over Planned Layoffs

15:28, 02 Aug. 2010
Romanian police unionists will stage protests if the bodies subordinated to the Interior Ministry are restructured, union leader Marin Gruia told MEDIAFAX Monday.

Romanian July Forex Reserves Fall Slightly To EUR31.6B

14:12, 02 Aug. 2010
Romanian foreign exchange reserves nudged down EUR47 million on the month to EUR31.58 billion in July, central bank data showed Monday.

Hot Weather Advisory For Bucharest, 21 Counties In Romania

11:27, 02 Aug. 2010
Romanian meteorologists on Monday issued code yellow hot weather advisory for capital Bucharest and 21 counties in the east, south and south-east of the country, where temperatures will frequently reach 35 degrees Celsius, until Wednesday.

Romania’s GDP Decline Seen Wider In 2010 Due To VAT Hike, Floods – PM

20:38, 01 Aug. 2010
Romania’s economic decline is seen widening in 2010, due to the Constitutional Court’s ruling, which fended off a 15% cut in pensions and prompted the increase in the sales tax, to heavy floods in recent months and the international economic context, Prime Minister Emil Boc said Sunday.

Romanian Govt Sees Jobless Rate On The Rise Until Yearend – PM

18:46, 01 Aug. 2010
The Romanian Government estimates an increase in the country’s unemployment rate until the end of the year, due to the restructuring process in the public sector, Prime Minister Emil Boc said Sunday.

Romanian Govt To Stop Funding Local Authorities Unless They Cut Staff Numbers – PM

18:04, 01 Aug. 2010
The Romanian Government will halt the transfer of state funds to the local budgets unless local administrations cut back on the number of employees within the bodies and departments in their subordination until mid-August, Prime Minister Emil Boc said Sunday.

Romanian PM Says EU-Funded Projects Stalled Because Of Poorly Drafted Papers

17:10, 01 Aug. 2010
Romanian Prime Minister Emil Boc on Sunday asked county prefects countrywide to check all contracts financed from European Union funds and stressed that projects using EU funds are stalled for almost one year due to poorly drafted papers.