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Romania PM: Govt Can Either Pay Reduced Wages, Pensions Or Stop Paying Them As of Dec

15:58, 20 Mai 2010
Romanian Prime Minister Emil Boc said Thursday, before a meeting with unionists for talks on the recently announced spending cut measures, that the Government has two alternatives, namely, either to pay reduced salaries and pensions or no longer pay them as of December 2010.

Romanian Govt Mulls Cutting 1,100 Jobs In Healthcare As Of August

15:46, 20 Mai 2010
Romania’s’ Government is considering cutting around 1,100 jobs out of some 7,870 jobs in public healthcare units under the authority of the Ministry of Health, as of August 1, according to a government document obtained by MEDIAFAX.

Romania Sets EUR100 Excise Tax On Fermented Drinks, EUR165 Tax On Intermediary Drinks

15:43, 20 Mai 2010
The Romanian Government decided to introduce an excise tax of EUR100/hectoliter per product for fermented drinks, other than beer and wine, such as cider and fruit-based fermented drinks.

Survey Shows Flat Prices Per Sqm Higher Than Villa Prices In S Bucharest

15:39, 20 Mai 2010
The price of villas, calculated per square meter, in the western part of Romania’s capital city Bucharest, is similar with the price of apartments in the same area, while apartments have grown more expensive than villas in the city's southern region, according to a survey of Imopedia.ro.

Number Of Foreign Visitors To Romania To Rise 18%, To 9.6M By 2014 – Study

15:35, 20 Mai 2010
The number of foreign tourists coming to Romania will rise 18% by 2014, to 9.6 million visitors, according to the estimates of market study firm Euromonitor International.

1/5 Of Romanian Household Loans Provided To State Employees

15:27, 20 Mai 2010
Romanian banks provided loans to employees in the public sector worth approximately 20 billion lei (EUR1=RON4.1998), amounting to one fifth of the total household lending, central bank data showed Thursday.

Romanian News Agency Mediafax To Award Best Short Film Prize At 2010 TIFF

14:53, 20 Mai 2010
Romanian news agency Mediafax will present the prize for best Romanian short film in the RoDays section of the Transylvanian International Film Festival (TIFF), set to take place between May 28 and June 6, says a press release issued by the news agency Thursday.

Romanian OMV Petrom To Invest EUR5M In Stations Rebranding

14:18, 20 Mai 2010
Romania's largest oil and gas company OMV Petrom (SNP.RO) will invest EUR5 million in the rebranding of its 124 PetromV filling stations, according to Rainer Schlang, board member responsible for marketing operations.

Romanian Union Leaders Meet Fin Min Thursday To Discuss Spending Cuts

12:48, 20 Mai 2010
Leaders of Romania’s large union federations meet Thursday with Finance Minister Sebastian Vladescu to discuss spending cut measures included in Romania’s letter of intent with the International Monetary Fund.

Romania To Shut Down Duty-Free Shops Upon License Expiry

12:26, 20 Mai 2010
Romania’s Government will no longer grant licenses to duty-free shops and currently valid licenses are set to expire in five years from their release date, says the tax evasion draft issued Wednesday.

Oxford Economics Downgrades View On Romania’s 10 GDP Growth To -0.6%

11:47, 20 Mai 2010
Oxford Economics revised down its forecast on Romania's economic growth on 2010, predicting now a contraction of 0.6% from a previously seen growth of 0.9%, after the poor results in the first quarter.

Romania’s Govt Wants To Adopt IMF Letter Of Intent Next Week

21:15, 19 Mai 2010
Romania’s Government wants to adopt in its next week’s meeting the letter of intent to the loan agreement with the International Monetary Fund after negotiations with unions and employers, people close to the matter told MEDIAFAX Wednesday.

Individuals Crossing Romanian Border Without Declaring EUR10,000 To Face Prison – Draft

20:40, 19 Mai 2010
Individuals crossing the Romanian border without declaring amounts equal to or greater than EUR10,000 will be charged with a crime and imprisoned for two to seven years, according to the draft Government Emergency Ordinance aiming to fight tax evasion.

Romania To Limit Quantity Of Tobacco Products, Alcohol Sold In Duty-Free Shops

20:26, 19 Mai 2010
Romania’s Government will limit the quantity of tobacco products and alcohol that can be sold to individuals in duty-free shops in order to reduce tax evasion and increase budget revenues.

Romanian Govt Delays Payment Of Public Wage Rights Won In Court

19:13, 19 Mai 2010
Romania’s Government has decided to delay the payment of salary rights won in court by public sector employees until 2012-2014, in an attempt to prevent running an even higher budget deficit in 2010 and 2011, despite the High Council of Magistrates’ negative opinion of this decision.

Romania Mulls Reintroducing Excises On Luxury Products, Risks EC Sanctions

18:37, 19 Mai 2010
Romania’s Government plans to reintroduce excises on yachts, perfumes, hunting weapons, jewelry and other luxury products starting 2010, and the country risks to be sanctioned by the European Commission, as it breaches certain European norms.

Criminal Suit Filed Against Romanian Hospital

17:18, 19 Mai 2010
Niculae Gament Antoniu, the husband of Romanian operetta soloist Amelia Antoniu, filed on Wednesday a criminal complaint against the CF2 hospital, where his wife was being treated when she went into septic shock last month.

Romanian State Secretaries, State Representatives In Cos Compelled To Donate Benefits

16:53, 19 Mai 2010
Romanian Prime Minister Emil Boc called on secretaries of state and state representatives in companies where the state is minority shareholder to donate all their benefits for a period of six months to a national solidarity fund.

Romanian Govt To Seek Confidence Vote In Parliament For Drastic Spending Cuts

16:15, 19 Mai 2010
Romania’s Government will seek a confidence vote in Parliament for the speedy adoption of the country’s planned spending cuts, Prime Minister Emil Boc said Wednesday during the Cabinet meeting.

About 85% Of Romanians In Urban Areas Have Bank Cards, 32% Make Card Payments Weekly – Poll

16:12, 19 Mai 2010
About 85% of Romanians living in urban areas have a bank card, but only 32% of them use it for payments at least once a week, while 16% of them make bank card payments at intervals bigger than three months, according to a poll conducted by the Romanian Association of Electronic Payments (APERO).

Romania Leu Exch Rate Falls To New 4-Mo Low At 4.1997 Vs Euro

14:52, 19 Mai 2010
Romania’s leu lost slightly against the euro in mid trade Wednesday, while the central bank’s reference rate retreated for the third day in a row to 4.1997, a new low since January 5.

Several Pension Fund Managers To Withdraw From Mkt If Pvt Pension Contributions Reduced – Assoc

14:43, 19 Mai 2010
Lowering Romanians’ contributions to mandatory private pension funds (Pillar II) might cause several fund administrators to withdraw from the market, as shareholders of pension administrators will not sustain a business without being certain they will recover investments in a reasonable period.

Romania Adopts Lustration Law

14:18, 19 Mai 2010
Romania’s Chamber of Deputies Wednesday adopted with 203 to 40 votes and 12 abstentions the country’s lustration law.

Lowering Pvt Pension Contributions Pushes System Into Bankruptcy – Association

13:17, 19 Mai 2010
Lowering Romanians’ contributions to mandatory private pension funds (Pillar II) means “willingly” pushing into bankruptcy both pension fund administrators and their five million private pension contributors, Crinu Andanut, head of private pension association APAPR, said Wednesday.

Romanian Ctrl Bker Warns Govt Plan Will Delay Switch To Private Pension System

13:17, 19 Mai 2010
Lowering Romanians’ contributions to mandatory private pension funds will slow down even more the country’s efforts to switch to a private pension system from a public one, said Wednesday Lucian Croitoru, adviser to the central bank governor.

Romania Central Bank 2009 Tax On Profit Exceeds EUR300M

13:05, 19 Mai 2010
Romanian central bank paid a tax on profit of over EUR300 million in 2009, equal to 80% of the total earnings, a central bank official said Wednesday.

Romanian Unions Rallying In Bucharest Threaten To Go On Full Strike As Of May 31

13:02, 19 Mai 2010
Romanian unionist threaten to go on full-blown strike as of May 31 and to gather again in Victoriei Square in downtown Bucharest, at the Government’s headquarters, unless the government gets their message and resigns.

Over 12,000 Romanian Retirees To Sue Govt If Pensions Are Cut

10:10, 19 Mai 2010
Over 12,000 Romanian retirees will file a collective suit against the Romanian state if the Government goes through with its plan to lower pensions by 15% to cut public spending, the foundation filing the suit said in a press release Wednesday.

Romanian Democrat Liberals, New Leftists Sign Collaboration Protocol

19:10, 18 Mai 2010
Romania’s ruling Democratic Liberal Party (PDL) and the newly created National Union for the Progress of Romania (UNPR) signed Tuesday a political collaboration protocol, pledging mutual support in the Government and Parliament.

Romanian Doctors Say Examination Confirmed Actress Jana Kramer’s Appendicitis Diagnosis

17:03, 18 Mai 2010
The Floreasca Emergency Hospital in Romania’s capital Bucharest has confirmed American actress Jana Kramer was admitted in July 2004 and was operated for acute appendicitis.

Concorde To Build EUR50M Stem Cell Facility In Romania

16:30, 18 Mai 2010
Concorde Gruppe will invest EUR50 million in the first stem cell research and treatment center in Romania, which will be managed and operated by U.S. company Healthcare of Today, the two companies announced.

Former Head Of Romanian State Land Property Agency Sentenced To 6 Yrs In Prison

15:31, 18 Mai 2010
Daniel Dragan, the former head of Romania’s State Land Property Agency, has been sentenced to six years in prison by the Court of Bucharest, on charges of malfeasance in office against public interests.

Bob Marley’s Backing Band The Wailers To Perform In Romania On September 10

15:30, 18 Mai 2010
Jamaica’s The Wailers, Bob Marley’s former backing band, will perform in Romanian capital Bucharest on September 10, organizers said Tuesday.

Romania Ctrl Bank: High Deficits Don’t Buy Time To Recover From Crisis

14:24, 18 Mai 2010
Postponing corrective actions against Romania’s budget deficit in an attempt to buy time and emerge from the recession would only deepen the recession and will deplete financing resources, central bank governor Mugur Isarescu said Tuesday.

Romanian Banks, SMEs Need Dialogue To Revive Lending

14:01, 18 Mai 2010
Lending in Romania won't resume as long as banks and the small and medium-sized enterprises keep treating risk as a hot potato, refusing to split it, according to Aurel Saramet, president of Romanian SMEs guarantee fund FNGCIMM.

Romania Eyes Setting Up Social Fund To Help Pensioners Cope With Austerity Measures

13:56, 18 Mai 2010
The Romanian Government is considering setting up a fund of social solidarity meant to offer financial support to retirees after their pensions are reduced 15%, amid the country's drastic spending cut plan, people close to the matter said Tuesday.

Romania Leu In Ranges, Exch Rate Hits New Low At 4.1949 Vs Euro

13:30, 18 Mai 2010
Romania’s leu traded in tight ranges against the euro in mid session Tuesday and the central bank’s reference lost nearly 0.2% on the day to 4.1949, a new low since January 5.

Romania’s April Annual Inflation, 3rd Highest In EU

12:37, 18 Mai 2010
Romania posted the third highest annual inflation rate in the European Union in April, after Hungary and Greece, official data showed Tuesday.

Romanian SMEs Guarantee Fund Paid Banks EUR9M In Jan-Apr

12:06, 18 Mai 2010
The Romania fund guaranteeing SME loans FNGCIMM paid to banks between January and April an overall EUR9 million, five times more than in the same interval of 2009, fund president Aurel Saramet said Tuesday.

Hundreds Picket Romania’s Govt HQ Over Planned Wage, Pension Cuts

11:05, 18 Mai 2010
Over 400 unionists are picketing the Romanian government’s headquarters for the fourth day Tuesday, calling on the Cabinet to step down because of its planned austerity measures.