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BCR: Additional Tax Hikes May Prolong Romanian Recession

13:18, 17 Aug. 2010
Subjecting the Romanian economy to a new wave of tax increases would only endanger the country’s chances to emerge from recession in 2011, analysts with lender Banca Comerciala Romana, or BCR, said Tuesday.

Romanian Car Mkt May Shrink 30% This Year – Peugeot Importer

13:10, 17 Aug. 2010
The Romanian car market will be 25-30% smaller this year than in 2009, but it may be rejuvenated in 2011 if the state-sponsored clunkers program continues, said Narcis Ghita, general manager of Peugeot importer Trust Motors.

Death Toll Among Babies Rises To Four, Seven Others In Critical Condition

10:18, 17 Aug. 2010
One of the eight newborn babies severely injured in the explosion at the Giulesti maternity hospital in Bucharest died Tuesday morning, at the Grigore Alexandrescu children hospital, taking the death toll among babies to four, Health Ministry undersecretary Raed Arafat said Tuesday.

Three Newborn Babies Killed In Bucharest Maternity Hospital Explosion

08:10, 17 Aug. 2010
Three newborn babies were killed in the intensive care unit of the Giulesti maternity hospital in Bucharest on Monday, in an explosion caused by an electrical fault, people close to the matter said.

Russian Special Services Arrest Romanian Diplomat Accused Of Espionage

18:53, 16 Aug. 2010
Russian special services have arrested a Romanian diplomat accused of attempting to obtain military secrets, security agency FSB’s press service announced Monday, cited by AFP.

Romania’s Lower Chamber Adopts National Integrity Agency Bill

17:45, 16 Aug. 2010
Romania’s Chamber of Deputies adopted Monday the draft law on the National Integrity Agency (ANI) with 204 to two votes and two abstentions.

World Bank: Romanian Public Sector Simply ‘Too Costly’

14:23, 16 Aug. 2010
Romania has an inefficient, highly costly public sector and the government needs to trim administrative spending toward levels more suited for its capacity to attract revenue, the World Bank said Monday.

Romania’s July Annual Inflation, Highest In EU

12:56, 16 Aug. 2010
Romania posted the highest inflation in the European Union in July, after a five-percentage-point increase in the value added tax level drove the annual rate to 7.1% from 4.3% a month earlier, official data showed Monday.

Cantacuzino Institute: No Case Of West Nile Virus Infection Reported In Romania So Far

11:07, 16 Aug. 2010
The Cantacuzino Institute in Bucharest said Monday morning that samples from the two Romanian men diagnosed with viral meningitis tested negative for West Nile Virus (WNV) infection and that no cases of WNV infection have been reported in Romania so far.

Transp Min: Works On Cernavoda-Constanta Hwy, Bucharest-Constanta Railway Finalized In 2011

16:11, 15 Aug. 2010
Romanian Transport Minister Radu Berceanu on Sunday said the highway linking Cernavoda to Constanta, southeastern Romania, will be finalized until the end of 2011, but drivers might be able to use one lane as of June 2011, when upgrade works on the Bucharest-Constanta railway are also finalized.

Romanian Leftist Party UNPR Announces Candidate For Bucharest Mayor

14:30, 15 Aug. 2010
Gabriel Oprea, executive president of leftist party the National Union for the Progress of Romania (UNPR), on Saturday said Bucharest District 2 mayor Neculai Ontanu will be the party’s candidate for general mayor of Bucharest.

President Traian Basescu Delivers Lofty Speech On Romanian Navy Day

13:36, 15 Aug. 2010
Romanian President Traian Basescu said Sunday in Constanta, southeastern Romania, during the events celebrating the Romanian Navy Day, that this day is an opportunity for people to come together and to commemorate the fallen heroes.

Two Suspected Cases Of West Nile Virus Infection In SE Romania

15:12, 14 Aug. 2010
Two men in Tulcea county, southeastern Romania, have been diagnosed with viral meningitis and are suspected of contracting the West Nile virus.

Romania Proposes Florin Serban’s „If I Want To Whistle, I Whistle” For 2011 Academy Awards

13:34, 14 Aug. 2010
The feature film “If I Want To Whistle, I Whistle” by Romanian director Florin Serban is Romania’s proposal for the 2011 Academy Awards in the best foreign language film section, said officials of the National Center for Cinematography.

Romanian Govt Slashes Thermal Rehab Funds, Blames Crisis

13:49, 13 Aug. 2010
The Romanian government slashed three quarters from the energy efficiency budget, to 11.7 million lei (EUR1=RON4.2327), as opposed to RON40 million, according to a decision adopted Wednesday.

Romania Heat Wave Advisory Extended Until Monday

11:18, 13 Aug. 2010
Romanian weather authorities extended Friday a yellow code heat wave advisory until Monday and warn temperatures will exceed 35 degrees Celsius especially in the country’s southern and eastern regions.

Romania Leu Mostly Higher Vs Euro In Early Trade After 2Q GDP Data

11:10, 13 Aug. 2010
Romania’s leu opened higher against the euro Friday and further gained ground, after positive economic data for the second quarter.

Romania 2Q GDP +0.3% On Quarter, -0.6% On Year

10:14, 13 Aug. 2010
Romanian second-quarter gross domestic product grew by 0.3% in seasonally adjusted data compared with the earlier quarter, a flash estimate of the country’s statistics institute showed Friday.

Romanian Govt Might Seek Conf Vote In Fall To Pass New Labor Code

09:32, 13 Aug. 2010
Romania’s Government might again seek a confidence vote in Parliament, in September or October, to pass a new Labor Code, a social assistance code and the unitary wage law for the public sector, Prime Minister Emil Boc said Thursday.

Romanian Analysts Mixed On Economic Development In 2011

17:10, 12 Aug. 2010
Romania could remain in recession well into next year, as potential new austerity measures in the fiscal sector and further public layoffs are likely to lead to an economic contraction of 2% in 2011, analysts with ING Bank said Thursday.

Romania’s Tourism Might Be Promoted On Facebook

16:06, 12 Aug. 2010
Romania’s tourism might be promoted on social networking website Facebook, through a potential partnership between Facebook and Romania’s Regional Development and Tourism Ministry, the ministry said Thursday.

Over EUR1.5M Missing From Bank Accounts Of Twenty Credit Europe Bank Clients

14:25, 12 Aug. 2010
The number of clients of the local branch of Credit Europe Bank in Brasov, central Romania, who had money withdrawn from their bank accounts without their permission, reached 20, and total damages exceed EUR1.5 million.

Romania Supports Resuming Israeli-Palestinian Negotiations Without Preconditions

14:10, 12 Aug. 2010
Romanian President Traian Basescu said Thursday in a joint press conference with Israeli President Shimon Peres, that Romania supports the resuming of Israeli-Palestinian and Syrian-Israeli negotiations without any preconditions.

Romanian President Basescu Pledges Support For NATO, Israel In Case Of Conflict With Iran

14:04, 12 Aug. 2010
Romanian President Traian Basescu said Thursday that, in case of a conflict with Iran, Romania will be a loyal partner to NATO and to Israel.

Romanian Govt Slashes VAT Funds For Local Mayoralties

13:45, 12 Aug. 2010
The sums taken from VAT collections and transferred to Romanian local budgets will be reduced by 2.1 billion lei (EUR1=RON4.2347) in the upcoming budget revision, according to the draft obtained by MEDIAFAX.

Romania To Revise Budget Revenue Down By RON3.4B

12:48, 12 Aug. 2010
Romania’s Government estimates budget revenue will come in at 165.4 billion lei (EUR1=RON4.2404) in 2010, down from an initial projection of RON168.85 billion, due to weaker than expected results in the first half and worsened economic growth prospects.

Romanian State-Owned Cos To Donate Unused Funds To State Budget

12:39, 12 Aug. 2010
Romanian state-owned energy companies Electrica and Romgaz will donate 400 million lei (EUR1=RON4.2404) each to the state budget, while the Lottery will donate RON74 million, according to the draft of the first budget revision this year obtained by MEDIAFAX.

Romanian Govt Raises Unemployment Budget On Planned Job Cuts

10:33, 12 Aug. 2010
The Government will raise expenses for unemployment aid this year by 1.1 billion lei (EUR1=RON4.2404) at this year’s first budget revision, expecting a higher number of jobless people than initially estimated when the budget was drafted.

Credit Europe Bank Pays Back People Whose Accounts Were Emptied

10:20, 12 Aug. 2010
Romania’s Credit Europe Bank, the local subsidiary of Credit Europe Bank N.V., started paying back clients of its branch in Brasov, central Romania, who had money drawn from their accounts without their permission, the bank said Thursday.

Romanian Govt To Lower Funds For Education, Defense, Agriculture To Pay Pensions, Social Welfare

10:00, 12 Aug. 2010
Romania’s Government will lower budgets for education, defense, justice, transports and agriculture and direct the money to the payment of pensions, unemployment benefits and other social welfare rights to avoid further social unrest.

Romanian Govt To Cut 2,270 More Jobs In Education – Sources

09:42, 12 Aug. 2010
Romania’s Government decided in the Cabinet meeting Wednesday to cut 4,240 more jobs in education, of which 2,270 are currently filled and the rest are vacant, people close to the matter told MEDIAFAX.

Romanian State-Owned Railway Co CFR Calatori To Send Entire Staff Into Technical Unemployment

21:06, 11 Aug. 2010
All of the approximately 15,000 employees of Romanian state-owned railway passenger transporter CFR Calatori will be sent into technical unemployment by rotation from Monday until the end of the year, general manager Liviu Pescarasu told MEDIAFAX on Wednesday.

Romanian Govt To Increase Social Security Budget By RON3.8B

19:56, 11 Aug. 2010
Romania’s Government will increase the social security budget by 3.8 billion lei (EUR1=RON4.2404) to cover spending on pensions until the end of the year, Prime Minister Emil Boc said Wednesday.

Romanian Govt Allots RON500M To Pay State Companies’ Debts To Private Firms

19:42, 11 Aug. 2010
Romania’s Government will allot 1.9 billion lei (EUR1=RON4.2404) to pay the state’s healthcare debts and RON500 million to cover the debts of state companies to firms which are themselves indebted to the budget, Prime Minister Emil Boc said Wednesday.

Romania, Sole Net Debtor In EU New Members – Fiscal Council

16:21, 11 Aug. 2010
Romania is the only country out of 10 states that joined the European Union after 2004 who are in the position of net debtor, with a negative balance of EUR455.9 million for the years 2007-2009, the Fiscal Council said Wednesday.

Romanian President Basescu Supports Special Senate Session On VAT Hike

15:40, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio that he supports the opposition’s proposal to add the Government Emergency Ordinance hiking VAT to the agenda of the Senate’s upcoming special session.

Dozens Of People In C Romania Say Their Bank Accounts Emptied Out; Damages Exceed RON1M

14:49, 11 Aug. 2010
Dozens of people holding deposits at the local subsidiary of Credit Europe Bank in Brasov, central Romania, claimed large sums of money in their bank accounts had been withdrawn without their knowledge.

Romania Should Reconsider Euro Adoption Calendar, President Says

14:47, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio he thinks authorities should rethink the country’s euro adoption calendar, as the country has not yet resolved its structural deficits problem.

Romanian President Says Govt Has Progressed, Calls For Faster Pace In Reform

14:31, 11 Aug. 2010
Romanian President Traian Basescu said Wednesday on public radio he appreciates the Government’s progress and its austerity measures are the best political solution.

Israeli President Shimon Peres To Visit Romania Thursday, Friday

14:01, 11 Aug. 2010
Aurel Vainer, president of the Federation of Jewish Communities of Romania, told MEDIAFAX on Wednesday that Romanian President Traian Basescu will host a dinner Thursday evening in honor of Israeli President Shimon Peres, following official meetings between the two heads of state earlier in the day.