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IMF Praises Romania’s Efforts To Restore Macroeconomic Stability

12:41, 03 Iul. 2010
Romania has taken significant steps toward restoring macroeconomic stability and adjusting pre-recession imbalances, says a press release issued Friday by John Lipsky, first deputy managing director of the International Monetary Fund.

IMF Approves EUR900M Disbursement For Romania

12:08, 03 Iul. 2010
The International Monetary Fund Friday approved the disbursement of approximately EUR900 million to Romania, following a new review of the country’s performance under a EUR13 billion standby agreement.

Romania’s Senate Chairman Asks Ombudsman To Challenge Constitutionality Of VAT Hike

20:07, 02 Iul. 2010
Romanian Senate Chairman Mircea Geoana said Friday that he asked the Ombudsman to challenge the constitutionality of the emergency ordinance regulating the value added tax hike, says a press release issued Friday.

Romanian President Promises Flood Relief, Says Education, Healthcare Cuts Required

19:25, 02 Iul. 2010
Romanian President Traian Basescu said Friday that victims of the recent floods will be provided with construction materials to rebuild their homes, paid for from the state budget, through “cuts in education and healthcare.”

Romanian Orthodox Church Awards People’s Cathedral Contract Worth EUR100M

16:15, 02 Iul. 2010
A company in the eastern Romanian county of Bacau was awarded the project for building the People’s Cathedral in Bucharest, at the estimated cost of approximately EUR100 million, half of the initially projected value, Patriarchal vicar bishop Ciprian Campineanul said Friday.

EC Received No Request For Flood Relief From Romanian Govt

15:52, 02 Iul. 2010
The European Commission has not received any request for aid from the Romanian Government, although it is “open” to the idea of activating the Mechanism for civil protection on request, Commission spokesman Ferran Tarradellas Espuny said Friday.

Romanian President, Tourism Min Visit Flood-Hit NE Romania

15:17, 02 Iul. 2010
Romanian President Traian Basescu and Development and Tourism Minister Elena Udrea arrived Friday afternoon in Patrauti village, in the northeastern Romanian county of Suceava, seriously affected by recent floods.

Romania’s VAT Hike To Boost Used Car Sales – autovit.ro

14:44, 02 Iul. 2010
Romania’s decision to hike the value added tax (VAT) to 24%, from 19%, would determine many people interested in purchasing cars to choose the second-hand car market, where prices will not be altered, said website autovit.ro manager Attila Okany.

Romania’s Labor Ministry Grants RON115,000 Aid To Flood Victims’ Families

14:43, 02 Iul. 2010
Romania’s Labor, Family and Social Protection Ministry handed out 115,000 lei (EUR1=RON4.3048) worth of aid to the families of those killed by the recent floods.

VAT Hike, Floods Seen Pushing Romanian YE Inflation At 8%

14:06, 02 Iul. 2010
The higher sales tax and a spike in food prices because of heavy floods could push Romania’s annual inflation to over 8% at year-end, Raiffeisen Bank said in a report Friday.

Romanian Businessman Sergiu Bahaian Indicted On Fraud, Murder Charges

12:33, 02 Iul. 2010
Romanian businessman Sergiu Bahaian has been indicted on charges of setting up a criminal group, fraud with severe consequences, murder and instigation to murder, organized crime prosecutors said Friday.

Over 100 Romanian Localities Affected By Rainfall, Flooding In Past 24 Hours

11:58, 02 Iul. 2010
Over 100 Romanian localities in 14 counties were affected by heavy rainfall and 7,762 people have been evacuated due to flooding over the past 24 hours, the General Inspectorate for Emergency Situations (IGSU) said Friday.

River Dam Collapse In NE Romania Prompts Evacuation Of Nearby Village

21:19, 01 Iul. 2010
A dam on the Siret, a major Romanian river crossing the northeastern part of the country, broke Thursday and submerged nearby farmland, prompting authorities to evacuate the inhabitants of a village in Neamt County, which is at risk of being flooded.

Romanian Press Club, Press Employers To Do Their Utmost To Have Copyright Tax Norms Amended

19:18, 01 Iul. 2010
The Romanian Press Club (CRP) and the Romanian Press Employers (PPR) disapprove of the authorities’ decision to collect social security contributions for income gained from copyright starting July 1, as the decision will have a serious impact on journalists.

Romania Could Ask IMF For Higher Deficit Target To Cushion Flood Effects

18:59, 01 Iul. 2010
Romania could ask the International Monetary Fund to allow it run a higher budget deficit in 2010 to cope with the effects of devastating flooding that already killed 22 people and forced thousands out of their homes, Transport Minister Radu Berceanu said Thursday.

Romanian Govt Ordinance Enforces 20% Food Expense Cut For Institutionalized Children, Prisons Exempt

16:56, 01 Iul. 2010
An emergency ordinance issued by Romania’s Government says that food funds for institutionalized children and people with disabilities will see a 20% cut, while the rations budget for prison inmates is exempt from the cut.

Romanian Dacia Sees Biggest Car Registration Increase On French Mkt In June

16:26, 01 Iul. 2010
Registrations of Romanian new Dacia cars in France rose 95.8% on the year in June, to 12,075 units, placing the Romanian carmaker first on the French market in terms of car registrations and third among foreign brands marketed in France.

Romania Avg Bank Rate On New Loans Rises To 11.69% In May

16:00, 01 Iul. 2010
Romanian average banking interest on new loans in national currency leu rose by over 0.5 percentage points to 11.69% in May, due to increased rates for new corporate lending, central bank data showed Thursday.

Romania To Add EUR500M To Pension Budget – Labor Min

15:06, 01 Iul. 2010
Romanian Labor Minister Mihai Seitan told a news conference Thursday that the state will not encounter any difficulties in paying pensions this year, adding that the budget revision set for early August will allot a further EUR500 million to the retirement benefit sector.

Recalculating Special Pensions To Save Up To RON300M Each Month – Romanian Labor Min

14:33, 01 Iul. 2010
Romanian Labor Minister Mihail Seitan said Thursday that recalculating special pensions will save the state budget around 300 million lei (EUR1=RON4.3537) per month, and this figure will grow in 2011, after recalculating military pensions.

Guns N’ Roses To Perform In Bucharest On September 21

14:29, 01 Iul. 2010
American hard rock band Guns N' Roses will hold a concert in Bucharest, Romania, on September 21 within the Chinese Democracy World Tour promoting their 2008 album 'Chinese Democracy', said organizers D&D Entertainment.

Only 5% Of Romanians In Urban Areas To Seek A Loan This Year – Survey

14:04, 01 Iul. 2010
One in three Romanians in the urban environment has a bank loan to repay and only 5% of urban residents plant to take out a bank loan this year, according to a study compiled by research 360insights for MEDIAFAX.

Romanian Leu Up Vs Euro, Exch Rate At 4.3537

13:42, 01 Iul. 2010
Romania’s leu edged higher against the euro in mid trade Thursday and the central bank’s reference strengthened for the first time this week to 4.3537 units, after hitting an all-time low versus the euro a day earlier.

Romanian June Forex Reserves Fall To EUR31.63B

13:36, 01 Iul. 2010
Romanian foreign exchange reserves fell EUR362 million in June to EUR31.627 billion, central bank data showed Thursday.

Plane On W Romanian Airport Delayed Takeoff Over Technical Problems

13:10, 01 Iul. 2010
A Valencia-bound airplane belonging to airline Wizz Air, scheduled for takeoff Wednesday from the Timisoara International Airport in western Romania, remained on the ground after pilots found a technical problem, postponing takeoff for Thursday afternoon.

Romania Indicts Fmr Diplomat Silviu Ionescu In Singapore Hit-And-Run Case

11:49, 01 Iul. 2010
Romania’s former envoy to Singapore Silviu Ionescu has been indicted by Romania’s General Production Office for manslaughter and he is also accused of using his diplomatic immunity to leave Singapore and attempted to influence the investigation into a hit-and-run accident.

Romanian Govt Guarantees Homeowner Loans For Thermal Rehabilitation

11:23, 01 Iul. 2010
The Romanian Government decided in its meeting Wednesday to approve a normative act setting that homeowners can have their apartments thermally refurbished by taking out bank loans guaranteed by the state with subsidized interest.

Romania Hikes Tax On Owners Of Multiple Homes

11:20, 01 Iul. 2010
The Romanian Government decided in its meeting Wednesday that owners of multiple homes would pay 65%, 150% and 300% more on the yearly home tax, set in ratio with the number of homes owned.

Romanian Govt Doubles Tax On Cars With Engines Larger Than 2,000 CC

11:09, 01 Iul. 2010
Romanian Prime Minister Emil Boc announced Wednesday the tax on automobiles with engines larger than 2,000 cc will be doubled, as per the amended Fiscal Code.

Romanian Leu Opens Slightly Stronger Vs Euro

10:58, 01 Iul. 2010
The Romanian leu opened slightly higher against the euro on Thursday, continuing the previous day’s appreciation trend, on foreign currency sales.

Romanian Govt To Lay Off 55,000-60,000 Public Sector Employees – Sources

08:50, 01 Iul. 2010
Romania’s Government decided Wednesday to lay off between 55,000 and 60,000 public sector employees, most from local administration bodies (around 54,000) and the rest from the ministries of Interior, Labor, Education and Agriculture, people close to the matter told MEDIAFAX.

Romanian Dam On Danube Arm Damaged, Overflows Threaten Nearby Inhabitants

20:47, 30 Iun. 2010
A dam on one of the Danube river’s arms in Ialomita county, southern Romania, was damaged due to the increased water level, and the overflows have already submerged about five hectares of farmland.

Romanian President Promulgates Civil Procedure Code, Criminal Procedure Code

20:36, 30 Iun. 2010
Romanian President Traian Basescu promulgated Wednesday the Civil Procedure Code and the Criminal Procedure Code.

Bucharest City Hall To Eliminate 268 Vacant Positions – Mayor

19:59, 30 Iun. 2010
Bucharest mayor Sorin Oprescu said Wednesday the city hall will reduce the number of positions within the institution by 19%, bringing their total number to 1,354.

U.S. Ambassador Supports Romanian President’s Stance On Integrity Agency Bill

19:57, 30 Iun. 2010
Romania’s recently adopted integrity agency bill will weaken the agency beyond what was required by the Constitutional Court decision, U.S. Ambassador to Bucharest Mark Gitenstein said Wednesday, adding that he supports President Traian Basescu’s stance on the matter.

Romania’s Petrom Hikes Pump Prices By Up To RON0.22/Liter

19:03, 30 Iun. 2010
Romania’s largest oil company OMV Petrom (SNP.RO) will raise Thursday its gasoline and diesel oil pump prices by 0.18-0.22 lei (EUR1=RON4.3688) per liter, following the value added tax increase to 24%.

Romanian State Employees’ Income To Decrease By 32% Starting June 1 – Union Leader

18:39, 30 Iun. 2010
Romanian state employees will see their income reduced by about 32% starting July 1, after the 25% salary cut and the 5% VAT hike are applied, Cartel Alfa union leader Bogdan Hossu said Wednesday.

Romania’s Austerity Laws Published In Official Journal

18:35, 30 Iun. 2010
Romania’s two austerity laws cutting state employees’ salaries by 25% and recalculating certain categories of pensions were published Wednesday in the Official Journal, after they were promulgated by the head of state Tuesday.

Romania Lower House Committee OKs Bill Scraping Lump-Sum Tax, Setting 5% VAT On Food, Constructions

17:03, 30 Iun. 2010
Romania’s Chamber of Deputies budget-finance committee Wednesday endorsed a bill submitted by the opposition, which scraps the lump-sum tax and sets the value added tax on food and home construction at 5%.

Victims Of Romanian Communist Nationalization To Receive Only Shares As Compensation

16:32, 30 Iun. 2010
Former Romanian home owners, whose homes were seized by the Communist regime, will not receive money as compensation for the next two years, but only shares in investement fund Fondul Proprietatea, according to a draft emergency ordinance.