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Romanian President Basescu Pledges Support For NATO, Israel In Case Of Conflict With Iran

14:04, 12 Aug. 2010
Romanian President Traian Basescu said Thursday that, in case of a conflict with Iran, Romania will be a loyal partner to NATO and to Israel.

Romanian Govt Slashes VAT Funds For Local Mayoralties

13:45, 12 Aug. 2010
The sums taken from VAT collections and transferred to Romanian local budgets will be reduced by 2.1 billion lei (EUR1=RON4.2347) in the upcoming budget revision, according to the draft obtained by MEDIAFAX.

Romania To Revise Budget Revenue Down By RON3.4B

12:48, 12 Aug. 2010
Romania’s Government estimates budget revenue will come in at 165.4 billion lei (EUR1=RON4.2404) in 2010, down from an initial projection of RON168.85 billion, due to weaker than expected results in the first half and worsened economic growth prospects.

Romanian State-Owned Cos To Donate Unused Funds To State Budget

12:39, 12 Aug. 2010
Romanian state-owned energy companies Electrica and Romgaz will donate 400 million lei (EUR1=RON4.2404) each to the state budget, while the Lottery will donate RON74 million, according to the draft of the first budget revision this year obtained by MEDIAFAX.

Romanian Govt Raises Unemployment Budget On Planned Job Cuts

10:33, 12 Aug. 2010
The Government will raise expenses for unemployment aid this year by 1.1 billion lei (EUR1=RON4.2404) at this year’s first budget revision, expecting a higher number of jobless people than initially estimated when the budget was drafted.

Credit Europe Bank Pays Back People Whose Accounts Were Emptied

10:20, 12 Aug. 2010
Romania’s Credit Europe Bank, the local subsidiary of Credit Europe Bank N.V., started paying back clients of its branch in Brasov, central Romania, who had money drawn from their accounts without their permission, the bank said Thursday.

Romanian Govt To Lower Funds For Education, Defense, Agriculture To Pay Pensions, Social Welfare

10:00, 12 Aug. 2010
Romania’s Government will lower budgets for education, defense, justice, transports and agriculture and direct the money to the payment of pensions, unemployment benefits and other social welfare rights to avoid further social unrest.

Romanian Govt To Cut 2,270 More Jobs In Education – Sources

09:42, 12 Aug. 2010
Romania’s Government decided in the Cabinet meeting Wednesday to cut 4,240 more jobs in education, of which 2,270 are currently filled and the rest are vacant, people close to the matter told MEDIAFAX.

Romanian State-Owned Railway Co CFR Calatori To Send Entire Staff Into Technical Unemployment

21:06, 11 Aug. 2010
All of the approximately 15,000 employees of Romanian state-owned railway passenger transporter CFR Calatori will be sent into technical unemployment by rotation from Monday until the end of the year, general manager Liviu Pescarasu told MEDIAFAX on Wednesday.

Romanian Govt To Increase Social Security Budget By RON3.8B

19:56, 11 Aug. 2010
Romania’s Government will increase the social security budget by 3.8 billion lei (EUR1=RON4.2404) to cover spending on pensions until the end of the year, Prime Minister Emil Boc said Wednesday.

Romanian Govt Allots RON500M To Pay State Companies’ Debts To Private Firms

19:42, 11 Aug. 2010
Romania’s Government will allot 1.9 billion lei (EUR1=RON4.2404) to pay the state’s healthcare debts and RON500 million to cover the debts of state companies to firms which are themselves indebted to the budget, Prime Minister Emil Boc said Wednesday.

Romania, Sole Net Debtor In EU New Members – Fiscal Council

16:21, 11 Aug. 2010
Romania is the only country out of 10 states that joined the European Union after 2004 who are in the position of net debtor, with a negative balance of EUR455.9 million for the years 2007-2009, the Fiscal Council said Wednesday.

Romanian President Basescu Supports Special Senate Session On VAT Hike

15:40, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio that he supports the opposition’s proposal to add the Government Emergency Ordinance hiking VAT to the agenda of the Senate’s upcoming special session.

Dozens Of People In C Romania Say Their Bank Accounts Emptied Out; Damages Exceed RON1M

14:49, 11 Aug. 2010
Dozens of people holding deposits at the local subsidiary of Credit Europe Bank in Brasov, central Romania, claimed large sums of money in their bank accounts had been withdrawn without their knowledge.

Romania Should Reconsider Euro Adoption Calendar, President Says

14:47, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio he thinks authorities should rethink the country’s euro adoption calendar, as the country has not yet resolved its structural deficits problem.

Romanian President Says Govt Has Progressed, Calls For Faster Pace In Reform

14:31, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio he appreciates the Government’s progress and its austerity measures are the best political solution.

Israeli President Shimon Peres To Visit Romania Thursday, Friday

14:01, 11 Aug. 2010
Aurel Vainer, president of the Federation of Jewish Communities of Romania, told MEDIAFAX on Wednesday that Romanian President Traian Basescu will host a dinner Thursday evening in honor of Israeli President Shimon Peres, following official meetings between the two heads of state earlier in the day.

Romania Has Licensed Four Electric Cars, 750 Hybrids

13:38, 11 Aug. 2010
Four electric cars and 750 hybrids have been registered and licensed in Romania, out of a total 134 electric vehicles and 756 hybrids, the Romanian Auto Registry told MEDIAFAX.

Code Yellow Heat Wave Alert For S, E Romania, Valid Thursday Through Saturday

13:14, 11 Aug. 2010
Romanian meteorologists on Wednesday issued a code yellow hot weather advisory valid Thursday through Saturday for the country’s southern and eastern regions, where temperatures will exceed 35 degrees Celsius.

Romania Transp Ministry Eyes 12,800 Layoffs In Railway Sector, Unions Threaten Protests

12:11, 11 Aug. 2010
Romania’s Transport Ministry is working on a draft act, whereby it will sack 12,800 employees in the railway sector until the end of September, people close to the matter told MEDIAFAX Wednesday.

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.