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Romanian Govt To Discuss Flood Relief Measures Wednesday – Deputy PM

15:02, 29 Iun. 2010
Romania’s Government will discuss flood relief measures Wednesday, with a focus on preventing further casualties and protecting the inhabitants of towns and villages currently at risk, Deputy Prime Minister Marko Bela said Tuesday.

Romania Fin Min Says Flat Tax Up For Revision At 2011 Budget

14:27, 29 Iun. 2010
Romania’s 16% flat tax level could be revised at the 2011 budget, Finance Minister Sebastian Vladescu said Tuesday, adding that a progressive taxation on income may be introduced as of next year as well.

Romanian Carmaker Dacia Made 300,000 Logan MCVs In 4 Yrs

14:26, 29 Iun. 2010
Romanian carmaker Dacia has produced 300,000 Logan MCV station wagons since the model’s 2006 launch, as the high sales figures achieved on external markets warranted increased production numbers, says a press release issued Tuesday by the company.

Floods Disturb Railway Traffic In NE Romania

14:24, 29 Iun. 2010
Railway traffic on four routes linking several localities in the northeastern part of Romania was halted due to floods which hit the country over the past 24 hours, passenger railway company CFR.SA said Tuesday.

Authorities Order Evacuation Of Villages Along Siret River, NE Romania

13:57, 29 Iun. 2010
Sorin Popescu, prefect of the northern Romanian county of Suceava, ordered Tuesday the evacuation of all villages located along the river Siret, which is overflowing.

ING Sees Romania’s Leu Trading At 4.3/Euro In Q3

13:45, 29 Iun. 2010
Romania’s leu is likely to trade around 4.3 units per euro during the third quarter, while the exchange rate is not expected to jump over 4.4/4.5 per euro, ING Bank said in a report Tuesday.

Romania Leu’s Exch Rate Hits Fresh Record Lows Vs Euro, Greenback

13:33, 29 Iun. 2010
Romania’s leu recouped part of its early losses versus the euro in mid trade Tuesday, but the exchange rate sank to new historic lows against both the euro and the greenback.

Romania Dropped Intra-EU Trade VAT Lest It Should Endanger EU Loan Tranche – Fin Min

13:32, 29 Iun. 2010
Romania quit plans to apply VAT on intra-EU trade, as the European Commission warned authorities the country might put on the line the new loan installment to be disbursed by the European Union in September, Finance Minister Sebastian Vladescu said Tuesday.

IMF To Decide On EUR850M Loan Tranche For Romania Friday

12:43, 29 Iun. 2010
The International Monetary Fund’s board will convene on July 2 to review Romania’s progress under a EUR13 billion loan agreement and decide on whether to disburse a new tranche to the country, Finance Minister Sebastian Vladescu said Tuesday.

Econ Crisis Shouldn’t Block State Cos’ Stock Mkt Listing – BVB Head

12:37, 29 Iun. 2010
The current economic crisis should not be an impediment in listing the state-run companies on the stock market, Stere Farmache, head of the Bucharest Stock Exchange, said Tuesday.

Romanian Sports Daily ProSport Goes 3D As Of July 1

12:35, 29 Iun. 2010
Romanian sports newspaper ProSport will issue a 3D edition on July 1, a first in the Romanian print media, the paper's publisher said in a press release Tuesday.

Romania PM To Visit Flood-Hit NE Area Tuesday

11:36, 29 Iun. 2010
Romanian Prime Minister Emil Boc will go Tuesday afternoon to the northeastern Romanian counties of Suceava and Botosani, which have been severely hit by floods and are still under flood advisories.

Romania’s Parliament Eliminates Unconstitutional Provisions From Austerity Plan

11:28, 29 Iun. 2010
Romania’s Parliament Tuesday adopted with 321 to two votes the committee for legal matters’ report on the austerity law package, eliminating the articles that slash pensions, which were recently ruled unconstitutional.

Romanian Unions File ILO Complaint Against Govt On 25% Cut In Public Sector Wages

11:13, 29 Iun. 2010
Romania’s union federation Cartel Alfa representing workers in public services, metallurgy, steel, transport and mining sectors filed a complaint with the International Labor Organization (ILO) against the Romanian Government for its measure to reduce public sector wages by 25%.

Meteorologists Extend Code Yellow Rain Alert For N, NE Romania Until Wednesday Morning

10:14, 29 Iun. 2010
Romanian meteorologists extended until Wednesday morning the code yellow rainfall alert valid for the northern and the northeastern parts of the country.

Romania’s Defense Council Approves Strategy Against Money Laundering, Terrorism Financing

09:46, 29 Iun. 2010
Romania’s Supreme Defense Council approved in its meeting Monday the National Strategy fighting money laundering and combating the financing of terrorism, the Presidency said in a press release Monday.

Romania’s Defense Council Calls For Action Plan Against Financial Crimes

22:54, 28 Iun. 2010
Romania’s Supreme Defense Council decided in its meeting Monday that all bodies in charge with fighting tax evasion and smuggling will draft a joint plan of action in order to crack down on financial crimes, the Romanian Presidency said in a press release Monday.

Euro Panic Buy As Romanian Leu Sinks To Record Low

20:31, 28 Iun. 2010
Panic-driven Romanians waited in line to buy euros Monday, after the leu fell to an all-time low against the European common currency, amid fears that the country’s EUR13 billion loan agreement with the International Monetary Fund could come to a halt.

Romanian Parl Legal Committee Purges Unconstitutional Provisions From Austerity Law Pack

20:27, 28 Iun. 2010
The joint committee for legal matters in Romania’s Parliament adopted Monday evening favorable reports on the austerity law package, eliminating the articles slashing or recalculating public pensions which were ruled unconstitutional by the Constitutional Court.

Romanian Lower Chamber To Debate, Vote On Motion Against Transp Min Monday Evening

17:06, 28 Iun. 2010
The Standing Office of the Romanian Chamber of Deputies decided Monday to debate the Liberal Party’s simple motion against Transports Minister Radu Berceanu starting with 6.30 p.m. and vote on the motion in the session starting at 8.30 pm..

Romania ‘09 Alcoholic Beverages 30% Cheaper Than EU Average

15:05, 28 Iun. 2010
In 2009, Romanians paid 30% less for alcoholic beverages than other European Union states, while a basket of food and non-alcoholic beverages was 34% cheaper than the EU average, a survey from EU’s statistics office Eurostat showed Monday.

Romanian Govt To Move Solidarity Tax On Multiple Homes From Fiscal Code To Separate Law

14:59, 28 Iun. 2010
Romania’s Government decided Monday to move the provision requiring owners of multiple homes to pay a solidarity tax this year from the act amending the Fiscal Code to a separate bill, with no influence on the Code.

Romania Ctrl Bk To Leave Key Rate Unchanged After VAT Hike – Analysts

14:59, 28 Iun. 2010
Romania’s central bank is bound to leave its key rate unchanged at 6.25% during its monetary policy meeting June 20, as the government’s recent decision to increase the value added tax level has made a rate cut highly unlikely, analysts said Monday.

Romanian Opp Social Democrats To Challenge Govt’s VAT Hike Decree With Ombudsman

14:34, 28 Iun. 2010
Romania’s opposition Social Democratic Party will challenge with the Ombudsman the Government’s emergency decree that hikes the value added tax (VAT) from 19% to 24%, Adrian Nastase, head of the party’s national council, said Monday.

Romtelecom: VAT Increase To Also Reduce Consumption On Telecom Market

14:11, 28 Iun. 2010
The upcoming increase in the value added tax in Romania will trigger a reduction in the consumption of goods and services, including on the telecom market, Yorgos Ioannidis, general manager of Romania’s hard-line telecom operator Romtelecom, told a news conference Monday.

Romanian Justice System Marred By Large No. Of Files, Shallowness – Justice Min

13:32, 28 Iun. 2010
The efficiency of Romania’s justice system is mainly marred by the large number of cases, the magistrates’ sluggishness, the superficial manner in which files are instrumented and the slowness of the legal system, Justice Minister Catalin Predoiu said Monday.

Romanian Leu Falls To All-Time Low Vs Euro, At 4.3257

13:32, 28 Iun. 2010
Romania's leu extended early losses against the euro in mid-trade Monday after a government decision to hike the value added tax raised concerns about inflationary pressures, while the central bank’s reference hit an all-time low at 4.3257 to the European currency.

Romania Indus, Constructions Seen Stable In Jun-Aug – INS

11:03, 28 Iun. 2010
Romanian managers expect relative stability in activity on the industrial and construction segments between June and August 2010, while retail and services are expected to decrease slightly, the National Institute for Statistics, or INS, said Monday.

Meteorologists Issue Code Yellow Alert For Rain In N, NE Romania

09:36, 28 Iun. 2010
Romanian meteorologists issued a new code yellow alert for rainfall valid for 13 counties in the northern and northeastern parts of the country, from Monday morning until Tuesday morning.

Hydrologists Issue Code Red Flood Warning For Rivers In NE, C Romania

17:51, 27 Iun. 2010
Romanian hydrologists issued a code red flood warning for the river Prut, Botosani County, and the river Negru, Covasna County, valid from Sunday 4 p.m. until the same time Tuesday.

Romanian Tennis Player Victor Hanescu Fined $15,000 After Wimbledon Spitting Incident

15:22, 27 Iun. 2010
Romanian tennis player Victor Hanescu was fined $15,000 on Saturday for “unsportsmanlike conduct” and “not using best efforts,” after he spat at the crowd Friday at a match against Germany’s Daniel Brands, in the third round of the Wimbledon tournament, organizers said.

Romania To Receive Next IMF Loan Tranche On July 1 Or 2 – Finance Min

14:55, 27 Iun. 2010
Romania will receive the next tranche of the loan from the International Monetary Fund on July 1 or 2, Finance Minister Sebastian Vladescu said Saturday.

Romanian Govt Agencies Not Required By EU Or Created Through Laws To Be Downgraded

17:21, 26 Iun. 2010
Romanian government agencies which were not created on the basis of European Union directives or through organic laws will be converted into ministry departments, while public bodies under the authority of ministries will be directed by a single structure.

VAT Hike To Be Directly Felt By Population – Romanian Central Bank

16:51, 26 Iun. 2010
Increasing VAT in Romania will affect the rate of inflation, which could reach 10% in the next few months, as suppliers and distributors will transfer most of the tax directly to the end-price, said Lucian Croitoru, advisor to the governor of the National Bank of Romania.

VAT Hike Accepted By IMF, Will Add RON3.5-4B To Budget – Romanian Fin Min

14:34, 26 Iun. 2010
Romanian Finance Minister Sebastian Vladescu said Saturday the VAT hike has already been agreed upon with the International Monetary Fund and is expected to provide 3.5-4 billion lei (EUR1=RON4.2808) to the state budget, allowing the country to meet the 6.8% of GDP budget deficit target.

Romanian PM Urges Ministers To Restructure Public Bodies, Use Emergency Decrees – Sources

13:43, 26 Iun. 2010
Romanian Prime Minister Emil Boc urged the ministers to begin the procedures to restructure the public bodies they lead, pointing out that this process, which could include layoffs, can be initiated through emergency decrees, if the law allows it, people close to the matter told MEDIAFAX.

IMF Board Postpones Meeting On Loan Agreement With Romania

13:23, 26 Iun. 2010
The International Monetary Fund board meeting to analyze the stand-by agreement with Romania, initially scheduled for June 28, has been postponed as the IMF is evaluating the impact of the Constitutional Court’s ruling on the Government’s program of public spending cuts.

Romanian Govt To Hike VAT To 24%, From 19% – Sources

13:07, 26 Iun. 2010
Romania’s Government has decided to increase VAT from 19% to 24%, leaving the flat tax as it is, and will also ask the Parliament to hurry the application of the bills reducing public sector salaries and recalculating special pensions, people close to the matter told MEDIAFAX on Saturday.

ING: Court Ruling To Plunge Romania Into Political Turmoil

23:37, 25 Iun. 2010
Romania is likely to face a period of political uncertainty after the Constitutional Court rejected part of the government’s austerity plans to slash public spending, putting downward pressure on the leu and increasing financing costs, an official at ING Romania said Friday.

IMF Could Halt Tranche If Romania Unable To Make Fiscal Adjustments – RBS

23:32, 25 Iun. 2010
Romania’s EUR13 billion loan agreement with the International Monetary Fund could come to a halt unless the government is able to legislate fiscal adjustments in time for a new disbursement, RBS analyst Timothy Ash told MEDIAFAX Friday.