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Romania Ctrl Bk: VAT-Induced Inflation Has Corrective Role

16:28, 08 Iul. 2010
The inflation derived from the recent increase in Romania’s value added tax level is not monetary and has a corrective role, central bank governor Mugur Isarescu said Thursday.

Romania Ctrl Bank Head Says Interest Rates On Deposits Too High

15:51, 08 Iul. 2010
Romanian central bank governor Mugur Isarescu on Thursday said local lenders pay high enough interest rates on leu-denominated deposits, despite being below the forecast year-end inflation level of 8%.

Romania’s Poverty Rate Rose 5 Pcts In ‘05-‘08, Despite Economic Growth

15:37, 08 Iul. 2010
Romania’s poverty rate increased to 23% from 18% in 2005-2008, when the country posted economic growth, and Romania is among countries that spend the lowest percentage of gross domestic product on social welfare, according to a report issued by the Foundation for the Development of Civil Society.

Romanian Dacia 1H Sales Up 18.2%, To 181,826 Units

15:25, 08 Iul. 2010
Romanian carmaker Dacia sold 181,826 units in the first six months of this year, 18.2% more than in the same period of 2009, with 37,134 units sold in June alone, 8.6% more compared to May, French group Renault, which owns Dacia, announced on Thursday.

Romanian Youths Insufficiently Educated Regarding STDs, Study Finds

14:45, 08 Iul. 2010
Romanian youths are insufficiently informed regarding HIV transmission, as almost a quarter believe the infection is acquired through mosquito bites, 19% through kissing and 8.7% by shaking hands with an infected person, says a report by the Romanian Association for Health Promotion (ARPS).

Romania 2010 CPI Forecast Leaves Out Psychological Impact – Ctrl Bker

14:44, 08 Iul. 2010
Romania’s latest forecast on the 2010 inflation, which sees the rate accelerating to 8% by year-end in response to a five percentage points increase in the sales tax, failed to factor in the psychological impact on the population, a central bank official said Thursday.

Romanian Rombat To Make Batteries For Renault, Peugeot Hybrids

13:54, 08 Iul. 2010
Romanian car battery maker Rombat Bistrita will manufacture as of 2012 batteries for the micro-hybrid cars of Renault, PSA Peugeot and possibly Ford, and could also produce batteries for electric cars.

Romanian Leu Up Vs Euro, Exch Rate At 4.2285

13:25, 08 Iul. 2010
Romania’s leu edged higher against the euro in mid trade Thursday, tracking regional markets, and the central bank’s reference strengthened slightly to 4.2285 units.

Dozens Protest In Romanian Capital Over Cyanide Mining Project For W Romania

11:36, 08 Iul. 2010
About 50 people are protesting outside the Marriott Hotel in capital Bucharest Thursday to the gold mining project in Rosia Montana, in western Romania, which entails the use of cyanide.

Romanian Health Ministry Cuts Over 1,600 Positions In Healthcare Units

10:39, 08 Iul. 2010
Romania’s Health Ministry finished the reorganization and restructuring process by which 1,621 positions and 233 vacant resident practitioner jobs have been slashed, Government spokeswoman Ioana Muntean said Wednesday.

Romania’s Govt Decides To Reduce State Secretary, Deputy Prefect Positions

10:37, 08 Iul. 2010
Romania’s Government has decided to reduce to two the number of state secretaries in each ministry, except those of Interior, Foreign Affairs and Finance, which will have three secretaries of state, Prime Minister Emil Boc said Wednesday.

Romania’s Govt Cuts About 2,000 Positions In Local Work Departments

10:36, 08 Iul. 2010
Romania’s Government decided Wednesday to cut about 2,000 positions in local work departments and 307 positions within the Labor Ministry, people close to the matter told MEDIAFAX.

Romanian President Maintains Viewpoint On Orchestrated Media Campaigns

20:05, 07 Iul. 2010
Romania’s President Traian Basescu said Wednesday on the public radio that he maintains his standpoint regarding media campaigns that denigrate state institutions, which were listed among threats to national security in the country’s National Defense Strategy.

Romanian Automobile Dacia To Build Euro 5 Engines For Dacia, Renault, Nissan, Renault Samsung

18:57, 07 Iul. 2010
Romanian carmaker Automobile Dacia will produce Euro 5 engines for Dacia, Renault, Nissan and Renault Samsung models, by using a new engine family and adapting one that currently conforms to the Euro 4 standard.

Romania May Charge EUR3-4/100 Km For Traffic On Highways As Of 2011

17:20, 07 Iul. 2010
Motorists driving on Romanian highways may have to pay a toll as of next summer, in the amount of EUR3-4 per 100 kilometers, Transport Minister Radu Berceanu said Wednesday.

Romania Fin Ministry Updates Norms For Tax On Interest Income

16:30, 07 Iul. 2010
Romania’s Finance Ministry on Wednesday updated earlier announced norms for the freshly introduced 16% tax on earnings from deposit interests, allowing banks to tax only the income obtained after July 1.

Romania’s Standard Snacks Enters Insolvency

15:24, 07 Iul. 2010
The courthouse in Romania’s capital city Bucharest has recently approved the start of insolvency proceedings for snacks and chips maker and distributor Standard Snacks, at a creditor's request.

President Says Romania Unable To Improve Things For Future Flood Prevention, Relief

15:16, 07 Iul. 2010
Romanian President Traian Basescu on Wednesday said Romania has “no resources" to change things for the better and be ready to better cope with potential waves of floods in the future.

Most Romanians In Urban Areas Not Interested In Private Insurance – Report

15:00, 07 Iul. 2010
Around 80% of urban Romanians do not have private health, life or home insurance, and at least a fifth of this group have no plans to buy such insurance in the next five years, according to a study published by MEDIAFAX in the Financiar 2010 report.

Romania Jobless Rate Falls To 7.4% In June

14:25, 07 Iul. 2010
Romanian unemployment rate slightly fell to 7.44% in June, from 7.67% a month earlier, the country’s employment agency ANOFM said Wednesday.

WB: Romania 2nd Most Accessible State To Start Foreign Business Worldwide

14:07, 07 Iul. 2010
Romania is the second most accessible country worldwide to start up limited liability companies with foreign capital, the World Bank said in a report Wednesday.

Kraft Foods To Sell Cadbury Romania Business To Oryxa Capital

13:59, 07 Iul. 2010
Kraft Foods on Wednesday said it reached a deal to sell Cadbury's confectionery operations in Romania to international investment fund Oryxa Capital for an undisclosed amount.

Romanian Constitutional Court Dismisses Opposition Claim On Public Sector Wage Cuts

13:54, 07 Iul. 2010
Romania’s Constitutional Court Wednesday rejected the notification filed by opposition social democrats and liberals regarding the unconstitutionality of the austerity measure cutting state employees’ salaries by 25%.

Romanian CFR Calatori Seeks RON30M Credit Line

13:20, 07 Iul. 2010
Romanian state-owned railway company CFR Calatori seeks a 30 million lei (EUR1=RON4.2320) revolving credit line to refinance a loan and for working capital, the company announced.

Some 65% Of Romanians Believe They Will Be Worse Off Financially In 2011 – Poll

13:05, 07 Iul. 2010
Nearly 65% of Romanians believe their financial status will be worsening in the next 12 months, to a lesser or greater extent, whereas in 2009, only three in ten people estimated things would get worse , according to a survey by market company GfK.

Romanian Ctrl Bk, IMF To Analyze Foreign Bks’ Local Exposure On July 22

20:14, 06 Iul. 2010
The parent banks of Romania’s top nine lenders will meet on July 22 in Brussels with representatives of the International Monetary Fund, the European Commission and the country’s central bank for the fourth evaluation of the agreement sealed in March 2009, official sources told MEDIAFAX.

Romania To Make First Budget Revision For 2010 In July – PM

19:04, 06 Iul. 2010
Romania’s Prime Minister Emil Boc on Tuesday said this year’s first budget revision will be made in July.

Romanian President Promulgates Amended Law On Statute Of Public Servants

16:10, 06 Iul. 2010
Romanian President Traian Basescu signed Tuesday the decree promulgating the amended Law on the Statute of public servants, after the Constitutional Court ruled in April that several of its articles were unconstitutional.

Romanian BCR Seeks To Boost EU Funded Proj Co-Financing By 20%

15:55, 06 Iul. 2010
Romanian BCR intends to raise by 20% this year the co-financing granted to EU-funded projects, a bank official said Tuesday.

Romania Fin Ministry: 16% Bank Tax Targets Income After July 1

14:33, 06 Iul. 2010
Revenues obtained before July 1 from bank deposits will not be taxed with 16% under the new fiscal measures, only the income obtained after July 1, according to the Romanian Finance Ministry.

EU Commissioner For Humanitarian Aid To Visit Romania, Three More Members Offer Flood Relief

14:27, 06 Iul. 2010
Kristalina Georgieva, the European Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, will visit Romania on Friday, as three other states – Bulgaria, Hungary and Poland – offer to help Romania with the floods in its northeastern region.

Romania 2010 Inflation Unlikely To Exceed 6% After Tax Hike – BRD

13:42, 06 Iul. 2010
Romania’s decision to increase the value added tax level is unlikely to drive up inflation above 6% this year, an official at the country’s second biggest lender BRD-Group Societe Generale (BRD.RO) said Tuesday.

Romanian Leu Gains Vs Euro, Exch Rate At 4.2393

13:32, 06 Iul. 2010
Romania’s leu continued to firm against the euro in mid trade Tuesday, amid low volumes, and the exchange rate gained 0.5% on the day at 4.2393 units.

Romanian Norms For Tax On Interest Income May Be Issued This Week

13:05, 06 Iul. 2010
Romanian applicability norms for a planned 16% tax on earnings from loan interests are likely to be published by weekend, the head of the Romanian Banks Association (ARB) said Tuesday.

Romania Asks EC For Derogation To Apply Reverse Taxation On Intra-EU Trade

13:01, 06 Iul. 2010
Romania requested derogation from EU regulations to apply reverse taxation on intra-community trade with cereals, fruit, vegetables, meat, sugar and bread, and an answer on this matter is expected to be conveyed by the Council of the European Union.

Maximum Flood Alert Extended Until Wednesday Afternoon For E Romania Riversflood a

12:54, 06 Iul. 2010
Romanian authorities have extended the code red flood alert, the highest alert level, for rivers Siret and Prut in the eastern part of the country, which has already been severely hit by floods.

Over 68% Of Retailers In Romania Up Prices Following VAT Hike – Survey

12:03, 06 Iul. 2010
Over 68% of retailers in Romania have decided to increase prices following the Government’s decision to raise the value added tax to 24% from 19%, while only 31.71% said they are keeping prices unchanged, according to a survey released Tuesday.

Danube Waters To Hit Maximum Level In Galati, SE Romania, On Friday

11:56, 06 Iul. 2010
The Danube River Tuesday will exceed the 2006 historical water level in the Romanian southeastern cities of Braila, Galati and Fetesti, and the river’s flow will hit maximum values Friday in Galati, where the water level is expected to reach 687 centimeters.

Romanian Banks See Foreclosure As Loss, Seek Dialogue

11:56, 06 Iul. 2010
Romanian banks cannot sell assets seized in foreclosures because there is no demand, the banks' association ARB president Radu Ghetea said Tuesday.

Romania To Meet 1H Budget Deficit Target

11:40, 06 Iul. 2010
Romania has met the budget deficit target agreed with the International Monetary Fund for the first half of the year, Finance Ministry state secretary Bogdan Dragoi said Tuesday.