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Romanian Transporters Ask Govt To Diversify Profit Taxation

16:02, 30 Iun. 2010
Romanian transporter federation FORT asked the Government to tax profit in differentiated manner, with 10% to 30%, in order to stimulate production and ease the crisis.

Romanian Textile Cos To Operate Some 50,000-60,000 Layoffs In 2010

15:52, 30 Iun. 2010
Some 50,000-60,000 Romanian textile industry personnel might be laid off by the end of the year, while the textile market will see a 10%-15% decrease, down to EUR2.9 billion, because of fewer orders, managing board chairwoman of Romanian textile company Pasmatex Maria Grapini said Wednesday.

Romania’s PM Calls On Prefects To Forgo Leave, Be Present In Areas Affected By Floods

15:44, 30 Iun. 2010
Romania’s Prime Minister Emil Boc called on his Cabinet ministers to go to the areas affected by floods and urged prefects on vacation to go back to work immediately and take swifter measures to evacuate people affected by floods.

Romania’s 2009 Democracy Score Worsens By 0.1 On Year – Report

15:25, 30 Iun. 2010
International NGO Freedom House lowered Romania’s democracy score from 3.36 in 2008 to 3.46 in 2009, on a scale of 1 to 7, where 1 is the highest level of democratic progress and 7 the lowest, says the NGOs yearly “Nations in Transit” report issued Wednesday.

Romania’s Faur Bucuresti Produced Devices To Be Used In Assembly Of Airbus Aircraft

15:20, 30 Iun. 2010
Romanian industrial manufacturer Faur Bucuresti (FAU.RO) has delivered technical devices to French aircraft company Latecoere, to be used in the assembly lines of the A380 airplane, the latest type of ultra-high-capacity airliner, says a press release issued Wednesday by the Romanian company.

Romania’s Demand For Filipino Nannies Grew 40% In 1Q, Compared To 2009

15:00, 30 Iun. 2010
The demand for Filipino nannies has increased 40% on the Romanian market in the first quarter of the year, compared to the same period of 2009, and recruitment firms forecast the number of requests will grow next year.

Romania Flood Death Toll Rises To 22, About 7,000 People Evacuated

14:59, 30 Iun. 2010
Flooding in Romania in recent days has claimed the lives of 22 people and about 7,000 others were forced to flee their homes to safety, according to data presented Wednesday during the Government meeting

Romania To Set EUR10,000 Cap On Moral Damages For Fmr Political Detainees

14:56, 30 Iun. 2010
The Romanian Government intends to set a threshold of EUR10,000 on moral compensations paid to former political detainees during the communist regime.

Romanian Rompetrol Hikes Pump Prices By Up To RON0.28/Liter

14:48, 30 Iun. 2010
Romanian fuel retailer Rompetrol Downstream will boost Thursday its gasoline and diesel oil pump prices by 0.25-0.28 lei (EUR1=RON4.3688), depending on the type of fuel, the company announced.

Romania’s Parliament Adopts Revised Version Of Integrity Agency Bill

14:45, 30 Iun. 2010
Romania’s Senate Wednesday adopted with 115 votes and two abstentions the revised version of the draft law regulating the activity of the country’s National Integrity Agency (ANI).

Romania’s Rompetrol, Petrom Shuts Down Pump Stations Wed Night For VAT Change

14:45, 30 Iun. 2010
The Romanian gas stations of oil companies Rompetrol and OMV Petrom will be shut down for one hour on Wednesday night, to operate the legislative changes on increasing the value added tax to 24%.

Railway Traffic Routes Closed Tuesday In N, E, C And W Romania Over Floods

14:37, 30 Iun. 2010
Railway traffic on several routes in northern, eastern, central and western Romania because of floods, while some sections have been imposed speed restrictions and traffic has been resumed in areas where flood waters have retreated, passenger rail company CFR said in a press release Tuesday.

Romania Leu’s Exch Rate Drops To New Record Low Vs Euro At 4.3688

13:37, 30 Iun. 2010
Romanian leu’s exchange rate fell to a historic low against the euro for the third consecutive session on Wednesday, despite a slight appreciation in market trading.

Romania Supreme Court Allows Omar Hayssam’s Criminal Associates To Leave Country

13:02, 30 Iun. 2010
Romania’s Supreme Court Tuesday evening ruled that Omar Mukhles and Omar Mahmoud, brothers of Syrian terrorism convict Omar Hayssam, as well as Mustafa Tartoussi, owner of Iman T cargo ship Hayssam allegedly used to flee Romania, are free to leave the country.

Romanian Mobile Operators Cosmote, Telemobil, RCS&RDS To Reduce Interconnection Fees As Of July 1

13:01, 30 Iun. 2010
Romania’s National Authority for Communications Administration and Regulation (ANCOM) announced Wednesday it will implement the last stage in the process to reduce the inter-connection fees charged by mobile operators Cosmote, Telemobil and RCS&RDS as of July 1.

AmCham Romania Asks Authorities To Reconsider VAT Hike

12:45, 30 Iun. 2010
The American Chamber of Commerce in Romania, or AmCham, recommends that local authorities reconsider their decision to hike the value added tax, according to a press release issued Wednesday.

ING: Serious Flooding In Romania Likely To Impact Inflation, GDP

12:28, 30 Iun. 2010
The serious flooding in Romania, which killed 20 people so far and is expected to halve the wheat output, is likely to put inflationary pressure on the country’s economy and negatively affect the gross domestic product, ING said in a report Wednesday.

Cigarette Prices In Romania Go Up By RON1/Pack On Avg As Of Thursday

11:52, 30 Iun. 2010
Cigarette prices in Romania will rise by an average 1 leu (EUR1=RON4.3523) per pack as of Thursday, July 1, following the country’s decision to hike its sales tax and up guarantees for fiscal storage, JTI Romania corporate affairs manager Gilda Lazar told MEDIAFAX Wednesday.

Nineteen Dead, Four Missing, Thousands Evacuated In Romanian Flood-Hit Areas

10:30, 30 Iun. 2010
Nineteen people have died, four have been reported missing and over 11,000 were evacuated from homes in northern, northeastern and part of central regions in Romania, which have been severely affected by floods.

Romanian Mayor Wins Trial Against Integrity Agency

10:05, 30 Iun. 2010
Romanian social democrat Radu Mazare, mayor of the southeastern city of Constanta, has won a trial against the country’s National Integrity Agency, a governmental anticorruption body, which had accused Mazare of being incompatible with public office.

Romanian President Promulgates Amended Austerity Laws

20:54, 29 Iun. 2010
Romanian President Traian Basescu promulgated Tuesday the two austerity laws, which were forwarded to him after the Parliament eliminated the articles that stipulated pension cuts, recently declared unconstitutional by the country’s Constitutional Court.

IMF Welcomes Romania’s Quick Response To Court Ruling

18:07, 29 Iun. 2010
The International Monetary Fund Tuesday applauded the Romanian government for quickly identifying compensatory measures after the country’s highest court rejected part of an austerity plan to cut the budget deficit.

Flood Victims’ Families To Receive Govt Aid – Romanian PM

17:08, 29 Iun. 2010
The families of those killed in the recent floods in Romania will receive 5,000 lei (EUR1=RON4.3523) each, Prime Minister Emil Boc said Tuesday, during a visit to a severely flood-affected village in Suceava county, northeastern Romania.

Unclear Procedures, Red Tape, Refund Delays Hinder Romania’s EU Funds Absorption

17:08, 29 Iun. 2010
Unclear procedures, excessive red tape, petty pre-financing, huge delays in reimbursements and beneficiaries’ complaints, are the main factors leading to a low absorption rate of European Union Funds in Romania, Oana Preda, head of the Resource Center for Public Participation, said Tuesday.

Economic Crisis Justifies Postponing Payment Of Court-Won Wage Rights – Romanian Constitutional Court

16:26, 29 Iun. 2010
Romania’s Constitutional Court issued Tuesday the argument behind a previous ruling, which says that the current state of the country’s economy justifies the postponement of disbursing wage rights won in court by public sector employees.

Romania’s 2010 Wheat Output Nearly Compromised By Heavy Rainfall

16:11, 29 Iun. 2010
Romania’s wheat output will drop to less than half the output forecast at the beginning of the year because of heavy rainfall during the past weeks, which has compromised crops, Nicolae Sitaru, head of Farmers’ League (LAPAR), told MEDIAFAX Tuesday.

Romania May Ask IMF For New Waiver On Govt Arrears At Next Review

15:23, 29 Iun. 2010
Romania hasn’t met the first half-year performance criteria in the sector of general government arrears and it could ask the International Monetary Fund for a new waiver of non-observance, Finance Minister Sebastian Vladescu said Tuesday.

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.