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Romanian Bankers Expect New Loan Restructuring Deals

12:30, 17 Iun. 2010

Romanian bankers expect a second wave of credit restructuring following the austerity measures announced by the government in the public sector, but say the system is able to sustain it.

Fin Min: At Least 100,000 State Employees Must Be Sacked To Allow Decent Wages For Remaining Staff

12:29, 17 Iun. 2010

Romania’s Finance Minister Sebastian Vladescu on Thursday said at least 100,000 public sector employees should be sacked so that the salaries of the remaining employees in the sector can be brought back to a decent level.

Romania Sacks Road Auth Staff Accused Of Taking Bribe From AC/DC Staff

12:09, 17 Iun. 2010

Romanian Transport Minister Radu Berceanu told a news conference Thursday that the ten employees of local road department DRDP in Timisoara, western Romania, who exacted EUR50 for each of the 29 cars carrying rock band AC/DC’s equipment for a concert in Bucharest, were sacked.

Romania Public Sector Staff, Retirees To Get Slashed Wages, Pensions As Of Aug – Fin Min

11:24, 17 Iun. 2010

Romania’s Finance Minister Sebastian Vladescu on Thursday said the 25% cut in public sector salaries and the 15% cut in pensions will be applied to salary and pension rights for July and people will receive reduced salaries and pensions as of August.

Romanian Govt Sets RON8,000 Wage Cap For State-Run Companies’ Employees

10:24, 17 Iun. 2010

Romania’s Government decided to set at 8,000 lei (EUR1= RON4.2254) the maximum wage cap for employees of state-run companies, and 90% of the sum that exceeds this ceiling will go to a solidarity fund, people with direct knowledge of talks told MEDIAFAX late Wednesday.

Romania PM Urges Ministers To Cut High Bonuses, Threatens To Sack Defiers

10:22, 17 Iun. 2010

Romanian Prime Minister Emil Boc told ministers, during a Government meeting held Wednesday evening, that wage bonuses granted to employees of public institutions are way too high and asked them to cease the payment of such incentives, people close to the matter told MEDIAFAX Wednesday.

Romanian Govt To Cut Spending In Ministries, Govt Agencies, Mulls Sacking State Secretaries

09:50, 17 Iun. 2010

Romania’s Government will halve spending on phone bills, travels, fuels and office supplies in all its institutions and agencies, along a 20% spending cut on goods and services and a 25% cut in wages and staff numbers, people close to the talks told MEDIAFAX Wednesday.

Romania’s Agriculture Ministry Has Spent Over 90% Of 2010 Budget

20:22, 16 Iun. 2010

Romania’s Agriculture Ministry has spent over 90% of this year’s budget on paying subsidies and outstanding debts for the previous year, and can only afford to subsidize diesel fuel, Agriculture Minister Mihail Dumitru told MEDIAFAX Wednesday.

Romanian Govt Adds Eight New Substances To Banned Hallucinogenic Product List

20:21, 16 Iun. 2010

Romania’s Government approved Wednesday a decision whereby eight other substances have been added to the list of banned hallucinogenic plants and products.

Romania’s Agriculture Ministry To Lay Off 2,820 Employees

19:09, 16 Iun. 2010

Romania’s Agriculture Ministry will see a staff cut of 26-27% this year, as it plans to lay off 2,820 employees, of which some 2,000 county department staff, Agriculture Minister Mihail Dumitru told MEDIAFAX Wednesday.

Romania’s Recently Adopted Austerity Plan Challenged With Constitutional Court

16:25, 16 Iun. 2010

Romanian Liberal Party Wednesday challenged with the Constitutional Court the Government’s two spending cut laws aimed to bring the country’s economy on track, in a move to prevent the enforcement of the drastic social measures they entail.

Romanian Senators Tacitly Pass New Sick Leave Bill

15:26, 16 Iun. 2010

Romania’s Senate failed to reach an agreement Wednesday over the emergency ordinance which introduces a verification system for insurance beneficiaries on sick leave.

Mobile Operator Orange To Launch Apple’s iPhone 4 In Romania

14:22, 16 Iun. 2010

Romania’s largest mobile operator, Orange, will launch Apple’s iPhone 4 in Romania in the upcoming weeks the company said Wednesday.

Romanian Union Leader Dumitru Costin Resigns As Head Of National Union Bloc

14:00, 16 Iun. 2010

Romanian union leader Dumitru Costin announced Wednesday he is stepping down as head of the National Union Bloc (BNS), since Tuesday’s protests failed to prevent the Government from pushing ahead with its austerity plan.

Romanian Leu Seen Rising After Govt Wins No-Confidence Vote

13:53, 16 Iun. 2010

Romanian opposition’s failure in toppling the government Tuesday may lead to a firmer leu in the coming period, ING Bank said in a report.

Romanian Govt Lends RON1.5B To Mayoralties To Pay Overdue Debts To Suppliers

11:18, 16 Iun. 2010

The Romanian Government will lend mayoralties up to 1.5 billion lei (EUR1=RON4.2322) in 2010, using privatization proceeds, which will allow mayoralties to pay debts due on December 31, 2009 to suppliers of public works and services.

Romania Jan-Apr FDI Fall 36% To EUR1.1B

10:52, 16 Iun. 2010

Romanian foreign direct investments, or FDI, fell to EUR1.135 billion in the first four months, from EUR1.8 billion in the year-earlier period, the central bank said Wednesday.

Romania Jan-Apr Current Account Gap Widens 40% To EUR2B

10:49, 16 Iun. 2010

Romania's current account deficit widened 40.3% to EUR2.06 billion in January to April, from EUR1.47 billion in the same period a year earlier, due to the decreasing surplus in the current transfers balance, the central bank said in a statement Wednesday.

Romania’s President To Attend European Council’s June Summit, EPP Summit In Brussels

20:41, 15 Iun. 2010

Romania’s President Traian Basescu will attend on Wednesday and Thursday the summit of the European People's Party and the European Council summer session in Brussels, the Presidency said in a press release Tuesday.

Romania’s Opp May Submit Another No-Confidence Motion During Current Session – Party Leader

19:28, 15 Iun. 2010

Romanian social democrat leader Victor Ponta said Tuesday, after the no-confidence motion against the Government was rejected, that the opposition may submit a second motion in the current Parliament session, adding the party will do its utmost to fight against the Government’s austerity plan.

Romania’s Centrist Govt Survives Opposition’s No-Confidence Motion

18:25, 15 Iun. 2010

Romania’s centrist democrat liberal Government stays in office after surviving the opposition’s no-confidence motion, which received 228 votes in Parliament on Tuesday but required 236 to pass, and may enforce its unpopular austerity plan.

Romanian Unionists Cease Protests Outside Parliament, Rallies To Follow If Austerity Plan Approved

17:51, 15 Iun. 2010

Romanian unionists, who gathered outside Parliament headquarters to support the opposition’s no-confidence motion, ended their protests at about 3.30 p.m. and decided to unblock the streets nearby the Parliament.

ECHR: Romania To Pay Over EUR18,000 Damages For Harsh Prison Conditions

17:50, 15 Iun. 2010

The European Court of Human Rights (ECHR) on Tuesday ruled in favor of Romanian national Dragos Ciupercescu, who sued the Romanian state over harsh prison conditions, and compelled Romania to pay Ciupercescu over EUR18,000 in moral and material damages.

Romanian Supreme Court Notifies Constitutional Court About Pension, Salary Slash Bills

17:16, 15 Iun. 2010

Romania’s Supreme Court on Tuesday sent the Constitutional Court two notices of unconstitutionality regarding the bill reducing public pensions and the bill reducing salaries with the aim of restoring budgetary balance.

Romania 1Q Exports Rise At 2nd Fastest Pace In EU

16:37, 15 Iun. 2010

Romanian exports rose 21% on the year to EUR7.9 billion in the first quarter, the second biggest increase in the European Union, official data showed Tuesday.

Romania’s Car Market Posts Biggest Drop In EU In Jan-May Interval, Registrations Fell 49%

14:26, 15 Iun. 2010

The Romanian car market registered the most abrupt decline in the European Union regarding the number of new car registrations in the January-May interval, and the 49% decrease brought the total number of registrations in the first five months of 2010 to 26,351 units.

Romania 1Q Employment -1.6% On Year

13:23, 15 Iun. 2010

Romania’s employment rate fell 1.6% in the first quarter compared with the year-earlier period, slightly below the 1.5% annual decline in the European Union, official data showed Tuesday.

Fitch: Romanian GDP To Shrink 1% In 2010

13:14, 15 Iun. 2010

Fitch Ratings estimates Romanian economy will decline 1% this year, visibly less compared with a 7.1% contraction in 2009, but the agency rules out a significant raise of the country’s sovereign rating in the coming period.

Swiss Windex To Invest EUR25M In SE Romania Wind Turbine Plant

13:02, 15 Iun. 2010

Swiss wind turbine producer Windex plans to start in two months the construction of a production capacity in the southeastern Romanian county of Constanta, in a EUR20-25 million investment, according to Nicolae Simion, the company’s manager for Romania

Romanian Govt Faces No-Confidence Vote In Parliament Over Austere Measures

11:47, 15 Iun. 2010

Romanian lawmakers met in plenary meeting Tuesday at 10 a.m. to debate and vote on the opposition’s no-confidence motion, which seeks to overthrow the country’s democrat liberal Government for its austerity plan that cuts wages and pensions.

Thousands Of Romanian Unionists Rally In Support Of Opp No-Conf Motion Outside Parl HQ

11:07, 15 Iun. 2010

Thousands of Romanian unionists gathered Tuesday morning outside Parliament headquarters in capital Bucharest and started forming a human chain in the nearby park, in a show of support for the opposition’s no-confidence motion, which lawmakers put to the vote Tuesday.

Romanian Democrat Liberal Deputy To Support Opposition’s No-Confidence Motion

09:38, 15 Iun. 2010

The newly elected Romanian ruling democrat liberal deputy and former television talk-show host Teo Trandafir told newspaper Gandul Monday that she will vote in favor of the opposition’s no-confidence motion Tuesday.

Romanian Govt Does Not Meet Minimum Standards For Elimination Of Human Trafficking– USA Report

20:47, 14 Iun. 2010

The USA’s State Department writes, in its annual report on human trafficking, that the Government of Romania does not meet the minimum standards for the elimination of trafficking and criticizes the reorganization of the National Agency against the Trafficking of Persons.

Romania Is Source, Transit, Destination Country For Human Trafficking – USA Report

20:44, 14 Iun. 2010

The USA’s State Department writes, in its annual report on human trafficking, that Romania is a source, transit, and destination country for men, women, and children subjected to trafficking in persons, specifically for forced labor, and for women and children trafficked for forced prostitution.

Romania Labor Ministry Plans To Disband Several Depts, Turn Bodies Into Depts- Sources

18:37, 14 Iun. 2010

Romania’s Labor Ministry plans to disband some of its departments and turn all bodies under its subordination into departments, sources close to the matter told MEDIAFAX Monday.

Romanians Run 25,000 Firms Registered In Italy – UniCredit Official

18:29, 14 Iun. 2010

About 25,000 of the firms registered in Italy are run by Romanians, said the chief of UniCredit institutional relations department, Giuseppe Scognamiglio.

Swiss Court Rejects Appeal, Romanian Footballer Mutu Must Pay Chelsea EUR17M Damages

15:27, 14 Iun. 2010

The Swiss Federal Court decided Monday to uphold the ruling of the Court of Arbitration for Sport, or CAS, according to which Romanian striker Mutu must pay EUR17 million damages to the Chelsea London football club.

Romanian Mangalia Shipyard Staff On Strike Over Pay Raise

12:04, 14 Iun. 2010

Approximately one third of the 3,000 staff at the Daewoo Mangalia Shipyard in Constanta County, southeastern Romania, went on a full-blown strike indeterminately as of Monday, as the management of Daewoo - Mangalia Heavy Industries SA has denied their request for a pay raise.

Romania Energy Watchdog Says Won’t Give In To Price Hike Requests

10:26, 14 Iun. 2010

Romania’s energy authority ANRE will not back down under pressure from large companies to increase energy tariffs, ANRE president Petru Lificiu said Sunday.

Romanians Give Top Priority To All Social Problems, Want Authorities To Tackle Them- Poll

21:05, 13 Iun. 2010

Romanians have trouble deciding which social problems should be put on the front burner and believe these problems ought to be tackled mainly by state authorities, according to a survey conducted by market research company 360insights.