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Romania Ctrl Bank Head: Tax System Hampered By Exemptions

14:52, 26 Mai 2010
Romania’s fiscal system is “shredded” because a long list of tax exemptions that eat away at the budget revenue, central bank governor Mugur Isarescu said Wednesday.

Romanian Penitentiary Unionists To Strike Over Austerity Measures Starting May 31

11:53, 26 Mai 2010
The Romanian National Penitentiary Workers’ Union (SNLP) and the National Penitentiary Administration Union Federation (FSANP) announced Wednesday that employees in the sector will go on strike starting May 31 to protest wage, pension and social benefit cuts.

Lending Won’t Be Main Driver Of Romania’s Growth In Long Run – Raiffeisen

11:30, 26 Mai 2010
Romania's economic growth will be higher than European Union’s average on long-term, due to the convergence process, but the economy will no longer be sustained by loans, as before, Raiffeisen Bank Romania’s chief executive Steven van Groningen said Wednesday.

Romanian President Compels Transparency At Public Institutions’ Level, Issues Warnings

11:11, 26 Mai 2010
Romanian President Traian Basescu said Tuesday evening he asked Cabinet members to see that the salaries of employees within ministries, agencies and administrations are all made public, and warned that non-compliance translates into open conflict with him.

Romania’s Govt Coalition Discusses Letter Of Intent To IMF

11:10, 26 Mai 2010
Leaders of Romania’s centrist coalition of democrat liberals and the Hungarian minority party met Wednesday morning at the Government’s headquarters to discuss the country’s letter of intent to the International Monetary Fund, which the Government will adopt later in the day.

Romanian Govt Eyes Extra Revenues Of RON855M In 2010 By Levying New Taxes

11:09, 26 Mai 2010
The Romanian Government estimates to obtain extra revenues of 855 million lei (EUR1=RON4.1838) to the state budget in the second half of 2010, by introducing new taxes, which are seen generating RON1.76 billion in 2011, RON1.65 billion in 2012 and RON1.3 billion in 2013.

Romania Reduces Quota Of Deductible Expenses On Intellectual Property Income To 20%– Draft

11:06, 26 Mai 2010
The quota of deductible expenses for the net income obtained from intellectual property will be reduced to half, at 20% of the gross income, from the current 40%, according to a draft emergency decree amending the Fiscal Code.

Romanian Firefighter Dies While Fighting Fire At Commercial Center

10:49, 26 Mai 2010
A Romanian firefighter died Wednesday morning crushed under an iron framework during operations to put out a fire that burst at a commercial center at the outskirts of capital Bucharest.

Romania To Triple Property Tax For Owners Of More Than Three Properties

10:26, 26 Mai 2010
Romania will double property taxes for people who own one or two unrented residences besides their domicile, while taxes will nearly triple for owners of more than three homes, according to a draft emergency decree amending the Tax Code.

Romania’s Govt Mulls Cashing RON217M From Taxing Interests By Yearend

09:53, 26 Mai 2010
Romania’s Government plans to cash this year 217 million lei (EUR1=RON4.1838) from taxing interests by 16%, and RON145 million from applying the flat tax to stock market gains.

Dissatisfied Romanian Education Unionists To Boycott Graduation Exam

21:31, 25 Mai 2010
Romania’s education unionists decided Tuesday, after talks with Education Minister Daniel Funeriu, to go ahead with the May 31 strike, which will coincide with the written foreign language high school graduation exam, and called for an emergency meeting with Prime Minister Emil Boc.

Romania To Cut All Pensions By 15%, Social Pensions Included – Tourism Min

20:02, 25 Mai 2010
All Romanian pensions will take a 15% cut, although exemptions for social pensions worth 350 lei (EUR1=RON4.1838) did come up during talks with Romania’s President Traian Basescu, the Minister of Regional Development and Tourism Elena Udrea told MEDIAFAX Tuesday.

Romanian Democrat Liberal MEP Accuses Own Party Of Corruption

16:19, 25 Mai 2010
Romanian democrat liberal MEP Monica Macovei said Tuesday during a talk-show on national station B1TV that “everybody steals”, and while she expected this of the opposition social democrats, she finds it “very serious” that the liberal democrats “are doing the exact same thing”.

Romania’s Public Servants To Go On Strike On May 31

16:16, 25 Mai 2010
Romania’s public servants will go on strike on May 31, to protest against the 25% wage cut for administration servants and the Government’s failure to adopt certain laws regulating public institutions, which would help fight tax evasion, the union said in a press release Tuesday.

Romania Finance Min Says Differentiated Pension Cuts Entail Changes In Pension Point

16:05, 25 Mai 2010
Romania’s Finance Minister Sebastian Vladescu on Tuesday said that differentiated pensions cuts are not possible because this would imply changing the pension point, an indicator used to calculate pensions.

Romanian Econ Min: Termoelectrica Will Be Liquidated

16:03, 25 Mai 2010
Romania’s Economy Ministry will comply with the International Monetary Fund’s requests, so that the viable units of state-run power producer Termoelectrica will be separated from the parent-company that will enter liquidation procedures, minister Adriean Videanu said Tuesday.

Prince Charles Cancels Visit To Romania Citing Health Reasons

15:27, 25 Mai 2010
Prince Charles of Wales has cancelled his planned visit to Romania scheduled for later this week, as well as planned meetings with President Traian Basescu and Prime Minister Emil Boc, citing health reasons, people close to the matter told MEDIAFAX.

Over 3,200 Romanian Children Went Missing In The Past Year

15:02, 25 Mai 2010
Over 3,200 Romanian children disappeared in the past year, ten times more compared to the 2003 and 2004 interval when 300 children were reported missing, Adrian Dumitrescu, chief of the Romanian police investigation department, said Tuesday.

Romanian Environment Ministry Could Axe 1,000 Jobs By Yearend

13:52, 25 Mai 2010
Romania’s Environment Ministry could slash one thousand jobs by the end of the year in the institution and subordinated bodies, such as the national forests administration and water administration, minister Laszlo Borbely said Tuesday.

Pensions Below RON1,000 Won’t Be Reduced By 15%– Romanian Labor Minister

13:40, 25 Mai 2010
Romania’s Labor Minister Mihai Seitan told pensioners who protested Tuesday at the ministry’s headquarters, that pensions below 1,000 lei (EUR1=RON4.1838) will not be reduced by 15%, adding he will uphold the measure during Wednesday’s Government meeting.

Romania To Issue First Mandatory Home Insurance Policies In July Or August 2010

13:25, 25 Mai 2010
Romania’s first mandatory home insurance policies will be issued in July or August, at the latest, after PAID, the company issuing mandatory home insurance policies, concludes the reinsurance contract with reinsurance brokers, PAID general manager Marius Bulugea said Tuesday.

IMF Says Other Measures To Trim Romania Deficit Backed As Well

12:42, 25 Mai 2010
The International Monetary Fund would have supported other options of cutting the budget deficit, if the Romanian authorities had chosen another one, but the Government had the final say, according to Jeffrey Franks, the head of the IMF mission in Romania.

Romania Development Min Asks Govt To Disband Natl Investment Co In Rational Spending Bid

12:21, 25 Mai 2010
Romanian Development and Tourism Minister Elena Udrea on Tuesday said she would call on the Government to disband the National Investment Company CNI, in a bid to wipe out any suspicion of reckless public spending.

Romanian Development Ministry Cut Spending 37%, Savings To Fund Road Building

12:01, 25 Mai 2010
Romanian Development and Tourism Minister Elena Udrea told lawmakers Tuesday the ministry cut spending by 37% on goods and services even before the Government decided to tighten expenses, adding the saved money would go to road building and rehabilitation projects.

U.S. Raises Non-Immigrant Visa Fees As Of June 4

12:00, 25 Mai 2010
The United States has decided to raise non-immigrant visa application processing fees as of June 4, based on a tiered structure, the U.S. embassy in Bucharest said in a press release Tuesday.

IMF Mission Head Confident Romania Will Apply Cut Measures

11:49, 25 Mai 2010
Both Romanian president Traian Basescu and Prime Minister Emil Boc look so determined to cut public spending, so Romania should manage to implement austerity measures, said Jeffrey Franks, head of the International Monetary Fund mission in Romania.

Romanian Sailor Abducted by Somali Pirates In Alleged Danger To Be Killed

09:28, 25 Mai 2010
The Romanian sailor aboard the ship Rim, which was seized by Somali pirates in the Indian Ocean, on February 2, told his girlfriend that the pirates are threatening to kill him Tuesday if they are not paid a $400,000 ransom.

Bucharest Public Transport Unionists To Announce Decision Regarding Strike Thursday – Union Leader

19:29, 24 Mai 2010
Bucharest public transport authority RATB unionists will take a decision regarding the strike Thursday, after the Government establishes the austerity plan, union leader Vasile Petrariu said Monday.

Two Romanian Employers’ Confederations Withdraw Support Of Letter Of Intent To IMF

17:30, 24 Mai 2010
Romanian employers’ confederations UGIR-1903 and CONPIROM decided Monday to no longer support the Government’s letter of intent to the IMF and to abstain in the Economic and Social Committee vote Tuesday, stating that employers should not decide in the matter of pension and public sector wage cuts.

Romanian Public Administration Unionists Mull Pushback Of May 31 Strike – Union Leader

15:23, 24 Mai 2010
Romania’s public administration unionists might not join the May 31 strike, as they might cease work but on the day the no-confidence motion is debated or the day the Government seeks a confidence vote in Parliament, “Sed Lex” union alliance leader Vasile Marica said Monday

Prince Charles To Return To Romania For Talks With President, PM

13:50, 24 Mai 2010
Prince Charles of Wales will return to Romania this week for meetings with President Traian Basescu and Prime Minister Emil Boc and he will then visit several villages in Transylvania, including his property in Viscri, Brasov County, people close to the matter told MEDIAFAX Monday.

Sol Melia Hotel Group Eyes Romanian Coast, Bucharest Market

17:49, 23 Mai 2010
Spanish group Sol Melia, Europe’s third largest hotel chain, has plans to enter the Romanian market in the near future by opening four- and five-star hotels on the Black Sea coast and in Bucharest, its general manager for Bulgaria, Jose Manuel Navarro, said Saturday.

Around 300 People Marched In Bucharest Gay Pride Parade

19:30, 22 Mai 2010
Around 300 people took part Saturday in the GayFest parade, organized by LGBT rights group ACCEPT in Romanian capital Bucharest.

Anti-Gay “March For Normalcy” Held By Far-Right Group In Romanian Capital

17:16, 22 Mai 2010
Around 150 people took part Saturday in a “march for normalcy,” organized by Romanian far-right organization Noua Dreapta in protest to the annual gay pride parade GayFest, scheduled to begin at 5 p.m. local time in Bucharest.

Romanian Football Financer Penescu Released Under Judicial Control

13:45, 22 Mai 2010
Romanian FC Arges sponsor Cornel Penescu will be released under judicial control, as the Pitesti Court of Appeals rejected Saturday the appeal made by anticorruption prosecutors against the same ruling made by the Arges County Court.

IMF Recommendations Focused On Increasing Romania’s Budget Revenue

13:34, 22 Mai 2010
In talks with Romanian authorities, the International Monetary Fund focused on increasing budget revenue by hiking the VAT and flat tax, as well as introducing progressive taxation, but certain difficult expense cuts would have been included in any scenario, says a Fund press release.

Romanian PM Says Restoring Salaries, Pensions In 2011 Will Require Public Sector Restructuring

18:57, 21 Mai 2010
Romania’s Government stands by its decision to curb the budget deficit through expenditure cuts, while increasing salaries and pensions in 2011 will require restructuring in the public sector and economic recovery, Prime Minister Emil Boc said on Friday.

Romanian Airline Tarom Unionists To Strike On May 31

18:56, 21 Mai 2010
Employees of Romanian state-owned airline Tarom threatened to join the full-blown public sector strike on May 31 out of solidarity, but will maintain one third of the company’s operations active, Tarom union secretary general Aurel Curdov told MEDIAFAX Friday.

Bucharest Public Transport Unionists To Strike On May 31

18:27, 21 Mai 2010
Bucharest public transport authority RATB unionists will go on strike on May 31, in solidarity with other public servants, and threaten to halt activity indefinitely if the Government chooses to lower their salaries.

Romanian Ctrl Bker: Wage Cuts, The Lesser Of Two Evils

16:05, 21 Mai 2010
Romania’s worst case scenario would be to fail at cutting pensions and wages, seen as the lesser of two evils, and to need an increase in the value added tax level, an adviser to the local central bank’s governor said Friday.