English

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.

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.