English

Fitch: Fiscal Consolidation Vital To Restore Confidence In Romanian Economy

14:06, 21 Iun. 2010
Romania needs an overhaul of the public sector to restore fiscal sustainability and regain investors’ confidence in the economy as a whole, an official at Fitch Ratings said Monday.

Romanian Opposition Liberals Set To Submit Motion Against Transp Minister

13:36, 21 Iun. 2010
Romania’s opposition Liberal Party spokesperson Mihai Voicu on Monday said liberal lawmakers in the Chamber of Deputies are likely to submit Monday afternoon, in the Chamber’s plenary meeting, a simple motion against Transport Minister Radu Berceanu.

Moody’s: Romania Should Up Public Sector Efficiency

13:04, 21 Iun. 2010
The Romanian Government’s move to cut salaries in the public sector will reduce expenditure, but the authorities should also consider improving public sector efficiency, Moody’s said Monday.

Meteorologists Issue Code Yellow Alert For Rain, Storms In W, S, Central Romania

11:40, 21 Iun. 2010
Romanian meteorologists issued Monday another code yellow alert for heavy rainfall, storms, lightning, hail and violent gusts of wind, valid in 19 central, southern, western and southwestern counties, from Monday evening until Tuesday morning, 9 a.m..

Retailer Carrefour To Launch Third Supermarket In Bucharest

10:54, 21 Iun. 2010
Retailer Carrefour will open Tuesday its third supermarket in Romania's capital Bucharest, serving some 2,500 households and 7,500 people, the company announced.

Romanian President Discusses Govt Reshuffle With Democrat Liberal Leaders

09:27, 21 Iun. 2010
Romanian President Traian Basescu met Sunday with the national and local leaders, lawmakers and MEPs of the country’s ruling democrat liberals to discuss a Cabinet reshuffle.

Romania Reveals Tourist Brand Next Week

16:47, 20 Iun. 2010
Romania’s ministry of Development and Tourism will launch the country’s tourist brand late next week, in capital Bucharest, minister Elena Udrea told Pro TV in an interview broadcast Sunday.

Romanian Minister Says Govt Not Planning To Raise VAT, Flat Tax

12:28, 20 Iun. 2010
Romania’s Development and Tourism Minister Elena Udrea told Pro TV in an interview broadcast Sunday the Government isn’t planning to raise the value added tax or the 16% flat tax.

Heavy Rains, Thunderstorms Expected Throughout Most Of Romania This Weekend

15:41, 19 Iun. 2010
Romanian weather authorities issued a code yellow advisory forecasting heavy rain and thunderstorms over the weekend throughout most of the country, except the northwest and eastern regions.

Romania’s Ruling Party Decides Sunday Whether To Replace Any Cabinet Ministers

15:08, 19 Iun. 2010
Romania’s ruling Democratic Liberal Party is to decide Sunday whether to have a Cabinet reshuffle or leave it as it is for another six months, party vice-president Valeriu Stoica said Saturday.

Romania’s AVAS Eyes RON261M From Privatization Deals In 2010

17:47, 18 Iun. 2010
Romanian privatization authority AVAS estimates total revenue of 395 million lei (EUR1=RON4.2488) in 2010, of which nearly RON261 million are expected from privatization deals, according to the authority’s revenue and expenditure budget.

Romania To Tax Meal, Gift, Nursery, Vacation Vouchers As Of July 1, 2010

16:07, 18 Iun. 2010
Meal, gift, nursery and vacation vouchers, as well as compensatory payments, will all be taxed as of July 1, when the Romanian Government is set to enforce the recent amendments to the country’s Tax Code, which target to expand the taxation pool.

Romanian Constitutional Court Explains Unconstitutionality Ruling Against Lustration Law

15:57, 18 Iun. 2010
Romania’s Constitutional Court issued Friday the motivation behind its decision regarding the unconstitutionality of the country’s recently adopted lustration law.

EXCLUSIVE: Romanian Court Issues First Decision In Nanny Mistreatment Case

14:02, 18 Iun. 2010
A Bucharest Court has ordered a nanny who mistreated the two year-old girl in her care to pay a criminal fine, moral damages and court fees, a first for the Romanian judicial system.

Romania To Enforce Solidarity Tax On Owners Of Multiple Homes

13:26, 18 Iun. 2010
Romania hopes to collect 31 million lei (EUR1=RON4.2448) this year from owners of multiple homes, as they will have to pay a “solidarity tax” by September 30, amounting to 50%-200% of the yearly tax on their other houses, according to a draft ordinance obtained by MEDIAFAX Friday.

Romania Leu’s Exch Rate Hits New 6-Mo Low At 4.2448 Vs Euro

13:18, 18 Iun. 2010
Romania’s leu retreated against the euro in mid trade Friday and the central bank’s reference lost nearly 0.2% on the day to a new six-month low at 4.2448 units.

Romanian Petromin Might Slash Shr Cap Or Be Dissolved

19:22, 17 Iun. 2010
The managers of Romanian maritime transport company CNM Petromin Constanta (CNMP.RO) proposed the shareholders to reduce the firm’s share capital, in order to cover the losses, or even to dissolve it.

Romania, U.S. Discuss Legal Framework Of Anti-Missile Shield Project

18:25, 17 Iun. 2010
Romanian Foreign Ministry state secretary Bogdan Aurescu said Thursday that the first round of official discussions with U.S. representatives regarding the anti-missile shield focused on the project’s legal and security policy frameworks.

ING: Romania Should Cut 200,000 Public Jobs By 2012 To Lower Budget Gap

18:13, 17 Iun. 2010
Romania won’t be able to lower its budget deficit below 3% of the gross domestic product by 2012 unless it slashes 200,000 jobs in the public sector, an official of ING Bank Romania said Thursday.

Romanian Govt Postpones Payment Of Revolutionaries’ Indemnities For 2012-2014

17:38, 17 Iun. 2010
Romania’s Government decided that social benefits for December 1989 revolutionaries will be postponed and paid in installments during the 2012-2014 interval, but the decision will not affect current payments.

Romania To Make First Budget Revision For 2010 In July

17:30, 17 Iun. 2010
Romania will revise the budget for the first time in 2010 in July, when the government is also expected to discuss the possibility of taking out a new international loan, Environment Minister Laszlo Borbely said Thursday.

EP Asks EC To Enforce Rail Liberalization In Several Member States, Including Romania

16:43, 17 Iun. 2010
The European Commission (EC) should launch infringement procedures against member states which have not yet opened up their rail networks to competition, says a resolution adopted Thursday by the European Parliament (EP), which names Romania as one of the offenders.

Romania To Sack 4 Of 10 Road Auth Staff On Duty During AC/DC Bribe Taking Incident

16:39, 17 Iun. 2010
Romanian Transport Minister Radu Berceanu said Thursday that disciplinary layoffs will not affect all ten employees on duty at the western Romanian Nadlac customs point on the night of the AC/DC bribe demanding incident, but only the four in charge with checking outbound vehicles.

Romanian Airline Tarom Admits One Of Its Planes Involved In Israel Incident

16:37, 17 Iun. 2010
Romania’s state-owned airliner Tarom admitted Thursday one of its planes was involved in the incident Wednesday night at Ben-Gurion Airport in Israel, a few hours after a company spokesperson denied media reports that the Romanian airplane belonged to Tarom.

Romania Obtains New Deal On Wintershall Gas – Econ Min

15:57, 17 Iun. 2010
Romanian Economy Minister Adriean Videanu said Thursday that, during his trip to Moscow, he has managed to obtain a $13 reduction in the price of gas supplied to Romania by gas company Wintershall.

Romania’s Govt To Restructure State-Owned Postal Co Facing Financial Collapse

15:37, 17 Iun. 2010
Romania’s Government has decided to restructure the state-owned national postal service through the development of its financial service portfolio, layoffs, local same-day deliveries and a staff bonus system, in an attempt to rescue the company from financial collapse.

European Parliament OKs Romania’s, Bulgaria’s Accession To Schengen Information System

15:01, 17 Iun. 2010
The European Parliament adopted the European Council’s decision whereby Romania and Bulgaria meet the data protection criteria needed to join the Schengen Information System (SIS), the database used by border control agents to exchange information in the fight against crime and illegal immigration.

Romanian Typical Bk Debtor: 30, Male, Lives In Bucharest

14:43, 17 Iun. 2010
Romania’s typical overdue debtor is a man, aged 30-34, who lives in capital Bucharest and who has taken out a consumer loan in local currency, the Credit Bureau head said Thursday.

Romanian Airline Tarom Says Doesn’t Own Plane Involved In Israel Incident

14:13, 17 Iun. 2010
The Romanian airplane that nearly collided with a Turkish airplane Wednesday night at Ben-Gurion Airport in Israel does not belong to Romania’s state-owned airliner Tarom, company spokeswoman Ioana Boca told MEDIAFAX Thursday.

Romanian Agric Ministry To Subsidize Premiums For Conversion To Organic Farming

13:50, 17 Iun. 2010
Romania’s Agriculture Ministry will use European Union funds to subsidize premiums needed for the conversion of traditional farms to organic farms, the country’s Agriculture Minister Mihail Dumitru said Thursday.

Romanian Leu’s Exch Rate Hits 6-Mo Low At 4.2372 Vs Euro

13:32, 17 Iun. 2010
Romania’s leu extended early losses against the euro in mid trade Thursday and the central bank’s reference lost nearly 0.3% on the day at 4.2372 units, the weakest rate in the past six months.

Romanian, Turkish Plane Nearly Collide On Airport In Israel

13:26, 17 Iun. 2010
A Romanian and a Turkish plane nearly collided Wednesday night at Ben-Gurion Airport in Israel, when the Turkish plane attempted to take off as a Romanian approached the same runway to land, ynetnews.com reported Thursday.

Romania, U.S. Begin Official Anti-Missile Shield Negotiations

13:26, 17 Iun. 2010
Romania will carry out official negotiations on the anti-missile shield between June 17 and June 18 with an official U.S. delegation, headed by Under Secretary of State for Arms Control and International Security Affairs Ellen Tauscher, Foreign Ministry representatives said Thursday.

Romania Ctrl Bk Official: Low Salaries Of High Officials Feed Top-Level Corruption Theory

12:42, 17 Iun. 2010
Romania’s president, prime minister and ministers are paid extremely low salaries for the positions they hold and this situation continues to feed the theory of top-level corruption, Romania’s central bank adviser Lucian Croitoru said Wednesday.

Romanian Bankers Expect New Loan Restructuring Deals

12:30, 17 Iun. 2010
Romanian bankers expect a second wave of credit restructuring following the austerity measures announced by the government in the public sector, but say the system is able to sustain it.

Fin Min: At Least 100,000 State Employees Must Be Sacked To Allow Decent Wages For Remaining Staff

12:29, 17 Iun. 2010
Romania’s Finance Minister Sebastian Vladescu on Thursday said at least 100,000 public sector employees should be sacked so that the salaries of the remaining employees in the sector can be brought back to a decent level.

Romania Sacks Road Auth Staff Accused Of Taking Bribe From AC/DC Staff

12:09, 17 Iun. 2010
Romanian Transport Minister Radu Berceanu told a news conference Thursday that the ten employees of local road department DRDP in Timisoara, western Romania, who exacted EUR50 for each of the 29 cars carrying rock band AC/DC’s equipment for a concert in Bucharest, were sacked.

Romania Public Sector Staff, Retirees To Get Slashed Wages, Pensions As Of Aug – Fin Min

11:24, 17 Iun. 2010
Romania’s Finance Minister Sebastian Vladescu on Thursday said the 25% cut in public sector salaries and the 15% cut in pensions will be applied to salary and pension rights for July and people will receive reduced salaries and pensions as of August.

Romanian Govt Sets RON8,000 Wage Cap For State-Run Companies’ Employees

10:24, 17 Iun. 2010
Romania’s Government decided to set at 8,000 lei (EUR1= RON4.2254) the maximum wage cap for employees of state-run companies, and 90% of the sum that exceeds this ceiling will go to a solidarity fund, people with direct knowledge of talks told MEDIAFAX late Wednesday.

Romania PM Urges Ministers To Cut High Bonuses, Threatens To Sack Defiers

10:22, 17 Iun. 2010
Romanian Prime Minister Emil Boc told ministers, during a Government meeting held Wednesday evening, that wage bonuses granted to employees of public institutions are way too high and asked them to cease the payment of such incentives, people close to the matter told MEDIAFAX Wednesday.