English

EBRD Cuts Romania GDP Forecast To -3% In 2010

18:47, 22 Iul. 2010
The European Bank for Reconstruction and Development Thursday revised its forecast for Romanian economy to minus 3% in 2010, from zero growth previously, citing disappointing first-quarter figures and government-imposed austerity measures which are expected to add to consumption decline.

World Bank: Romania Attractive For Long-Term Investments

16:31, 22 Iul. 2010
Romania remains an attractive country for long-term investments, but it’s less appealing to investors looking for quick scores, an official at the World Bank said Thursday.

WB: Multilateral Loan Recommended For Romania’s Budget Needs

16:17, 22 Iul. 2010
Low borrowing costs are vital to ensure adequate financing to cover Romania’s budget needs, an official at the World Bank said Thursday, adding that a new international loan package may be a good move at this time.

Romanian High Council Of Magistrates To Debate EC Justice Report In Sept

16:09, 22 Iul. 2010
The Romanian High Council of Magistrates (CSM) specialized departments will analyze the EC justice report and, based on the analysis’ result, the institution will decide on the measures to be taken to remediate the problems emphasized by the EC, CSM president Florica Bejinaru said Thursday.

Romanian Singer Madalina Manole’s Parents To File For Her Son’s Custody

14:12, 22 Iul. 2010
The parents of Romanian singer Madalina Manole, who killed herself last week, will file for custody of their daughter’s one year-old child, their lawyer Beatrice Comaniceanu told MEDIAFAX.

Romanian Loan Guarantee Fund Grants EUR144M For Agriculture Programs In 1H

13:58, 22 Iul. 2010
The Romanian Rural Loan Guarantee Fund (FGCR) granted EUR144 million in guarantees in the first half of the year for agriculture programs that need EU funds, and 66% of the total loan guarantees were granted for investment projects.

EU Rejects Romania’s Plans To Apply Reverse Taxation On Food

13:51, 22 Iul. 2010
The European Commission has rejected reverse taxation in the food sector, which entails that transaction taxes will be paid by beneficiaries and not by entities that delivered the merchandise, said Thursday Aurel Popescu, head of Romania’s bread industry association Rompan.

EU Warns 25% Pay Cut At Romania Ctrl Bank Breaches Treaty – Sources

13:45, 22 Iul. 2010
The European Commission warned it might initiate infringement proceedings against Romania unless the government renounces a 25% pay cut for central bank staff, people familiar with the matter said Thursday.

Romanian Transporters To Stage Protests In Bucharest In Sept

11:40, 22 Iul. 2010
Romanian transporter federation FORT will stage protests in capital Bucharest at the beginning of September, over “deplorable” road infrastructure and not having been paid overdue state debts, the federation said in a press release Thursday.

Romania’s Govt Cuts Over 3,000 Positions Within Agriculture Min

09:18, 22 Iul. 2010
The Romanian Government decided in a meeting Wednesday to cut over 3,000 positions within the Agriculture Ministry and the bodies subordinated to the institution, Agriculture Minister Mihail Dumitru said Wednesday.

Romania’s Govt To Recalculate Special Pensions By September, Military Pensions By Yearend

20:40, 21 Iul. 2010
Romanian special pensions will be recalculated by September and will be reduced afterwards, while military pensions will be recalculated by the end of the year, Romanian Prime Minister Emil Boc said Wednesday.

U.S.A. To Provide 60 Armored Vehicles To Romanian Troops Stationed In Afghanistan

18:58, 21 Iul. 2010
The United States will provide 60 mine resistant ambush protected (MRAP) armored vehicles to Romanian troops stationed in Afghanistan, the U.S. Embassy to Bucharest said in a press release Wednesday.

Romanian President Asks Govt To Push For Single Law Regulating Integrity Agency

16:25, 21 Iul. 2010
Romanian President Traian Basescu urged the coalition government during the Cabinet meeting Wednesday to insist that Parliament adopts a single law regulating the National Integrity Agency, which is currently governed by rules stated in several laws.

IMF Loan May Have Saved Romania From Default – Ctrl Bker

14:22, 21 Iul. 2010
Romania’s economic growth can’t be sustained without foreign capital and the country would have entered into default if not for the EUR20 billion aid package led by the International Monetary Fund, a central bank official said Wednesday.

Romanian President Heads Wednesday’s Govt Meeting

14:11, 21 Iul. 2010
Romanian President Traian Basescu is heading the Government meeting Wednesday and people close to the matter have told MEDIAFAX one of the topics under discussion is the law on the National Integrity Agency.

Romania Ctrl Bk: Correcting Structural Deficits Visibly More Difficult

12:58, 21 Iul. 2010
Financing Romania’s structural deficits has become more difficult and the resulting imbalances may lead to social unrest, central bank governor Mugur Isarescu said Wednesday.

Remains Of Romanian Dictator Ceausescu And His Wife To Be Exhumed

12:56, 21 Iul. 2010
The remains of Romanian dictator Nicolae Ceausescu and his wife Elena will be exhumed Wednesday morning so that DNA samples may be taken, at the request of their son Valentin, who wants to determine whether they are indeed of his late parents.

Romania Will Draw Up Report To Clarify Issues Regarding Its Accession Commitments – President

19:21, 20 Iul. 2010
Romania’s President Traian Basescu said Tuesday that Romania will draw up a report to clarify aspects regarding the country’s accession commitments and send it to the European Union member states and the European Commission.

Romanian President Basescu To Request Special Parliament Session On Integrity Agency Bill

18:23, 20 Iul. 2010
Romanian President Traian Basescu said Tuesday he will request a special Parliament session in early August, mainly to discuss the law on the National Integrity Agency (ANI).

President: EC Statement That Romania Breaches Accession Commitments Unacceptable

18:22, 20 Iul. 2010
Romania’s President Traian Basescu said Tuesday that the European Commission's claim that Romania breaches its accession commitments is “unacceptable,” adding Romania cannot take such an overstatement and calls for an “unbiased approach.”

Romanian President: Public Procurement Not Part Of MCV

17:37, 20 Iul. 2010
Romanian President Traian Basescu said Tuesday that he agrees with the European Commission’s statements regarding public procurements, but added that the issue should not have been included in the justice report as it has nothing to do with the Mechanism for Cooperation and Verification (MCV).

EC Says Romania’s Anticorruption Department Shows Good Results In Fighting Corruption

14:06, 20 Iul. 2010
The European Commission said, in its justice report on Romania released Tuesday, that the country’s National Anticorruption Department (DNA) continued to show a steady and convincing track record of investigations and indictments in high-level corruption cases.

EC Asks Romania To Correct Integrity Agency Law, Install Full Public Procurement Transparency

13:10, 20 Iul. 2010
The European Commission "invites" Romania in its report on the country, released Tuesday, to take action correcting the National Integrity Agency law, monitoring sanctions applied in high-level corruption cases and install full transparency in public procurement.

EC Says Romania Should Revise Supreme Court Competence, Increase Magistracy Institute Role

12:39, 20 Iul. 2010
The European Commission recommended Romania in its report released Tuesday to revise the competences of its High Court of Justice and strengthen the role of the country’s National Magistracy Institute.

PwC: Some 190 Multinationals To Come Out Of Romania By 2025

12:38, 20 Iul. 2010
Some 190 new Romanian-owned multinational companies are expected to emerge out over the next 15 years, a level close to that of Ukraine (192 over the next 15 years) and Hungary (221), consultancy company PricewaterhouseCoopers (PwC) said Tuesday in a report.

Romania Seeks Derogation From EC Greenhouse Gas Emission Regulations For 13 Penalized Companies

12:13, 20 Iul. 2010
Romanian authorities try to convince the European Commission to grant derogation from regulations regarding greenhouse gas emissions to 13 companies compelled to pay sanctions totaling EUR21 million after breaching the deadline by which greenhouse gas certificates should have been submitted.

EC Report On Romania Points To Shortcomings, Integrity Agency Law Seen As Significant Step Back

11:48, 20 Iul. 2010
The European Commission said in its report on Romania’s justice system, released Tuesday, the country didn’t show sufficient political commitments and its progress has important shortcomings, such as legislative amendments weakening the National Integrity Agency.

EC To Release Next Justice Report On Romania In Summer 2011

11:43, 20 Iul. 2010
The European Commission notes, in its justice report on Romania released Tuesday, that the next assessment of the country’s progress will be released in summer 2011.

Romania Might Introduce Health Insurance Cards By 2012

09:49, 20 Iul. 2010
Romanian citizens will have a national health insurance card by 2012, said National Health Insurance House manager Dorin Ionescu, adding health insurance cards will contain insurance data, as well as medical information about their owners, such as blood type or allergies.

Romanian Parliament To Restart Debates On National Integrity Law’s Unconstitutional Provisions

18:21, 19 Iul. 2010
Toni Grebla, head of the Romanian Senate committee for legal matters, said Monday that the two chambers of the Parliament will restart debates on the provisions of the law regulating the activity of the country’s National Integrity Agency (ANI) which have been ruled unconstitutional.

Romania’s Constitutional Court Rules Revised National Integrity Law Unconstitutional

17:11, 19 Iul. 2010
The Romanian Constitutional Court Monday ruled unconstitutional the revised version of the law regulating the activity of the country’s National Integrity Agency (ANI), after President Traian Basescu challenged the revised normative act’s constitutionality.

Hydrologists Extend Flood Alert For Prut River, E Romania, Until End-July

16:21, 19 Iul. 2010
Romanian hydrologists extended the flood alert on the Prut river, eastern Romania, until the end of July, as dam-held waters must be released and the river’s level will further increase.

Romanian Leu Weakens On IMF-Hungary Negotiations Fail

11:10, 19 Iul. 2010
The Romanian leu fell against the euro early Monday, on a negative regional sentiment caused by the suspension of the financing agreement between the International Monetary Fund and Hungary.

About 120,000 Tourists Spent Weekend On Romanian Black Sea Coast

10:42, 19 Iul. 2010
About 120,000 people spent their weekend in resorts on the Romanian Black Sea shore, the busiest weekend so far this season.

Romanian PM Assures 16% Flat Tax Remains Unchanged For The Moment

16:00, 18 Iul. 2010
Romania’s Government currently has no plans to either increase, lower or eliminate its 16% flat tax, although it is considering different scenarios, Prime Minister Emil Boc said Sunday.

Heat Wave, Thunderstorms To Sweep Romania Over Next Two Weeks

15:35, 18 Iul. 2010
Romania will be faced with scorching heat and thunderstorms over the next two weeks, national weather authority head Ion Sandu said Sunday.

Over 1,000 Homes Need Rebuilding After Major Flooding In Romania – PM

14:49, 18 Iul. 2010
About 1,000 homes will need to be rebuilt following floods that ravaged the country this summer and claimed 23 lives, Romanian Prime Minister Emil Boc said Sunday during a videoconference with prefects across the country.

Romania, Germany To Sign Plane-Construction Agreement

15:55, 16 Iul. 2010
The Bucharest National Institute for Airspace Research (INCAS) and a similar institute in Germany want to seal an agreement to construct a plane for regional flights.

Most Romanian SMEs Believe Crisis Will Reach Peak This Year – Poll

14:38, 16 Iul. 2010
Most heads of Romanian small and medium enterprises believe the crisis will reach its peak this year, while a quarter of company officials questioned in a poll by the SME Council expect the peak to happen in 2011.

Romanian Anticorruption Prosecutors Indict Fmr Prosecutor, Two Lawyers, One Judge

14:00, 16 Iul. 2010
Romanian anticorruption prosecutors on Friday indicted former prosecutor Nelu Carpen for corruption, along 12 others, including two lawyers and a judge.