English

E&Y: Romania’s M&A Mkt Seems To Unfreeze

13:04, 07 Iun. 2010
Investors are confused by the recent developments in Romania, with macroeconomic conditions deteriorating and the announced austerity measures, but the mergers and acquisitions market seems to unfreeze, an Ernst&Young official said Monday.

Romania Agrees To Increase Tax Rates If Current Austerity Measures Are Not Enough – EC

12:52, 07 Iun. 2010
The European Commission said Monday, in response to questions addressed by MEDIAFAX, that it had been agreed during discussions with Romanian authorities that additional revenue raising actions, including increasing tax rates, will be implemented to close any unexpected budgetary gap.

Romanian Govt Accepts 5 Amendments To Austerity Laws

11:48, 07 Iun. 2010
Romania’s Government decided Monday to only accept five of the 70 amendments submitted to the two laws which make up the country’s austerity plan.

ING Sees Weaker Romanian Leu In 12 Months

11:27, 07 Iun. 2010
ING Bank revised downward its outlook on the Romanian leu in the next 12 months, predicting the leu will trade at 4.35 per euro, from RON3.9/euro seen previously, mainly due to difficult fiscal and economic conditions.

Romania’s April Net Salary Down 4.8% M-M To RON1,436

10:01, 07 Iun. 2010
Romania’s net average salary in April was at 1,436 lei (EUR1=RON4.2051), down 4.8% compared with the previous month, the National Institute for Statistics said Monday.

Romanian PM Sabotaged By His Own Cabinet – President

23:31, 06 Iun. 2010
Romanian President Traian Basescu, Prime Minister Emil Boc, the finance minister and the labor minister met Sunday evening for talks with democrat liberal lawmakers on the austerity plan for which the Government will seek a confidence vote in Parliament Monday.

FOCUS: Romanian PM Seeks Parliament Conf Vote On Govt Austerity Plan Monday

19:21, 06 Iun. 2010
Romania’s Prime Minister Emil Boc will seek a confidence vote in Parliament Monday for two draft laws that make up the Government’s austerity plan, which cuts public sector wages, pensions and social welfare benefits and regulates certain aspects regarding pensions.

Over Half Of Romanians Would Set Up Their Own Business – Survey

17:37, 06 Iun. 2010
Over 52% of Romanians would like to set up their own business and 42% of them would start a business if they inherited a significant amount of money, says a Eurobarometer study published by the European Commission.

Romania’s No Of Insolvency Proceedings In 2010 Might Exceed Level Reported Last Year

13:05, 06 Iun. 2010
The number of insolvency proceedings in 2010 might exceed the level registered in 2009 when 20,000 companies filed for insolvency, said the National Union of Romanian Insolvency Practitioners (UNPIR) president Arin Stanescu.

Several Romanian County Councils To Take Over Decentralized Hospitals In Upcoming Weeks

13:00, 06 Iun. 2010
Romania’s decentralized hospitals will be administered by the public administration authorities that own the respective hospital buildings and 39 county councils will take over hospitals in the upcoming weeks, Romania’s Health Minister Cseke Attila said Sunday.

‘Colivia’ By Romanian Adrian Sitaru Wins TIFF Best Romanian Short Film Prize Awarded By Mediafax

23:26, 05 Iun. 2010
Romanian news agency Mediafax Saturday evening awarded the Best Romanian Short Film Prize to ‘Colivia’ by film director Adrian Sitaru at the Transylvanian International Film Festival (TIFF).

Romania’s Govt Rejects All Amendments To Draft Laws On Austerity Measures

21:36, 05 Iun. 2010
Romania’s Government rejected all amendments to the draft laws for which it will seek a vote of confidence in Parliament on Monday, and preserved the austerity plan that cuts pensions and state employees’ wages and eliminates luxury pensions, Government spokeswoman Ioana Muntean said Saturday.

Romanian Education Unionists Call On Lawmakers To Vote Against Wage Cut Plan

21:07, 05 Iun. 2010
The Romanian National Education Federation (FEN) addressed an open letter to the country’s lawmakers, calling on them to vote against Government’s austerity measures that cut education sector employees’ salaries.

Romanian Govt Seeks Alternative Spending Cut Solutions Not To Reduce Pensions

20:12, 05 Iun. 2010
Romania’s Prime Minister Emil Boc and the members of his Cabinet met Saturday in an attempt to find alternative spending cut solutions, so that pensions below 1,000 lei (EUR1=RON4.2051) should not be reduced by 15%, people close to the matter told MEDIAFAX Saturday.

Ruling Democratic Union Of Hungarians In Romania Won’t Vote To Overthrow Govt

14:23, 05 Iun. 2010
Romania’s Environment Minister Laszlo Borbely said Saturday that no Democratic Union of Hungarians in Romania lawmaker will vote in favor of the no-confidence motions promised by opposition parties to oust the Government.

Romanian Opp Liberals Propose Two-Runoff Parliamentary Elections

13:28, 05 Iun. 2010
Romania’s opposition Liberal Party will propose that the country’s law regulating elections be amended so that the uninominal parliamentary elections in 2012 have two runoffs, as in the case of elections for mayor or county council president, liberal vice-president Teodor Atanasiu said Saturday.

Romanian Opp Liberals Willing To Rule Country If Govt Falls – Leader

10:33, 05 Iun. 2010
Romanian Liberal Party leader Crin Antonescu said liberals are willing to rule the country if the current Government is overthrown and no other party assumes such responsibility.

Romanian Sailor Injured In Struggle With Pirates Stable After Surgery – Foreign Ministry

20:49, 04 Iun. 2010
The Romanian sailor injured during Wednesday’s crew takeover of the merchant vessel RIM, formerly held by Somali pirates, successfully underwent surgery Thursday, Foreign Ministry officials told MEDIAFAX Friday.

Romanian Leu Exch Rate Hits 5-Mo Low At 4.2051 Vs Euro

13:28, 04 Iun. 2010
Romania’s leu retreated against the euro in mid trade Friday and the central bank’s reference lost 0.45% on the day at 4.2051 units, the weakest rate since January 5.

Hungarian Minority Party MP Amends Austerity Law Pack, Proposes Pension Freeze Until End-2011

13:17, 04 Iun. 2010
Hungarian minority party lawmaker Gyorgy Frunda has presented several amendments to the draft laws for which the ruling coalition, which includes the Hungarian minority party, plans to seek a confidence vote in Parliament Monday and proposed, among others, to freeze pensions until December 31, 2011.

Romanian Ruling Party VP Says Govt To Be Reshuffled Soon

12:47, 04 Iun. 2010
Romanian Democratic Liberal Party vice-president Ioan Oltean told a news conference Friday the cabinet would be reshuffled by the end of June or early July, but didn’t say which ministers would be replaced.

Romanian Soldier Once Deployed In Iraq, Afghanistan Arrested For Drug Dealing

11:15, 04 Iun. 2010
Romanian organized crime prosecutors in Ploiesti, southern Romania, arrested for 24 hours three drug dealing suspects, one of whom is a soldier who has participated in several military missions in Iraq and Afghanistan.

Romanian Union Federations To Protest Outside Parl HQ June 8-15

17:46, 03 Iun. 2010
Romanian union federations will stage a 3,000-person rally outside Parliament headquarters Monday and will go on a one-day full-blown strike the day the Government seeks a confidence vote for its austerity plan, union leaders said Thursday.

Romanian Orthodox Church To Borrow EUR200M To Build New Cathedral

17:11, 03 Iun. 2010
The Romanian Orthodox Church will borrow around EUR200 million from a bank to build the People’s Cathedral in Bucharest, with work to begin on August 15, after the winner of the contract has been chosen, Patriarchal vicar bishop Ciprian Campineanul said Thursday.

Thousands Protest Pension, Wage Cuts Across Romania

15:32, 03 Iun. 2010
Thousands of people staged rallies Thursday in several cities across Romania in protest to the planned wage and pension cuts the Government wants to pass into legislation next week by seeking a confidence vote in Parliament.

EC Takes Action Against Romania Over Payment Services

15:27, 03 Iun. 2010
The European Commission has taken action against Romania and four other member states, which will receive letters requesting them to fully implement the Payment Services Directive, the foundation for the Single Euro Payments Area (SEPA).

Romanian Teachers To Continue Protests

21:22, 02 Iun. 2010
Romania’s four education union federations said Wednesday that unionists will not quit the strike, adding that, starting Monday, teachers will not register marks, calculate school year averages and participate in national exams.

Romanian Firms Owned By Relatives Of Public Institution Heads Forbidden To Participate In Auctions

21:19, 02 Iun. 2010
Romanian firms owned by people who are relatives up to the fourth-degree of employees who fill decision-making positions within public institutions will not be allowed to participate in auctions organized by these authorities.

Romanian Labor Committee Deputies Adopt Report On Draft Pension Law

21:19, 02 Iun. 2010
The Romanian Chamber of Deputies’ labor committee adopted Wednesday a favorable report on the draft pension law drawn up by the Government.

Romanian Opp Social Democrats To Submit Two No-Confidence Motions Against Govt

20:30, 02 Iun. 2010
Romania’s opposition social democrats will file two no-confidence motions against the Government, since the Cabinet will seek the Parliament’s confidence vote twice, both for pension cuts and for public sector wage cuts, party spokesperson Radu Moldovan told MEDIAFAX Wednesday.

Romania’s Decision To Reduce Pensions Meant To Avoid Short-Term Collapse, Problems Not Solved

18:05, 02 Iun. 2010
Romanian presidential adviser Sebastian Lazaroiu said Wednesday, during debates on the country’s pension system, that the authorities’ decision to reduce pensions by 15% is meant to maintain balance and avoid a short-term collapse, adding the measure does not solve pension system problems.

Crew Of Hijacked Ship Regain Control From Somali Pirates, Romanian Sailor Injured

17:14, 02 Iun. 2010
Romanian Virgil Teofil Cretu, crew member of the Libyan-owned merchant vessel RIM, hijacked in February by Somali pirates, was severely injured Wednesday, as the ship’s crew regained control of the vessel, former chair of Romania’s agency for rescuing human lives at sea Dorel Onaca said Wednesday.

Some 1,600 Romanian Companies Entered Insolvency In April

16:38, 02 Iun. 2010
A total number of 1,597 Romanian companies entered insolvency in April this year, 26% less than in the previous month, according to data from local trade registry ONRC.

Romanian Govt To Reduce No Of Hospital Beds, Hospital Manager Jobs

16:14, 02 Iun. 2010
Romania’s Government decided Wednesday, by an emergency decree, to eliminate 9,200 hospital beds and reduce by 577 the number of hospital manager jobs starting July 1, when 373 hospitals will also be transferred to local authorities, Health Minister Cseke Attila said Wednesday.

Romanian Govt Seeks Parliament Conf Vote On Austerity Plan Monday

16:06, 02 Iun. 2010
Romania’s Government will seek a confidence vote in Parliament Monday afternoon for two draft laws that make up its austerity plan, which entails cuts in public sector wages, pensions and social welfare benefits, Senate Chairman Mircea Geoana said Wednesday.

Romanian President Calls For Reexamination Of Anticorruption Body Law

15:08, 02 Iun. 2010
Romanian President Traian Basescu asked the Parliament Wednesday to reexamine a recently adopted law regulating the country’s National Integrity Agency, whose powers have been weakened.

Romania Govt: Salaries To Be Cut In State-Run Cos, Not In Cos Already Restructured

14:59, 02 Iun. 2010
The budgets of Romanian state-owned companies will be reevaluated, as a first step towards reducing salaries, but the budgets of companies that have already been restructured will not be reevaluated, Romania’s Government spokeswoman Ioana Muntean said Wednesday.

Romania Ranks Second Among 37 States Regarding School Violence – WHO Survey

13:56, 02 Iun. 2010
Romania is ranked second regarding school violence, according to a research surveying the situation in 37 states, which was conducted in 2007 by the World Health Organization, the World Psychiatric Association and the International Association for Child and Adolescent Psychiatry.

Romanian Public Education Unions FEN, Alma Mater To Halt Strike

13:40, 02 Iun. 2010
Romanian public education unions FEN and Alma Mater decided Wednesday to suspend their general strike and join the protest actions organized by the country’s five union confederations, said Bogdan Hossu, leader of the Cartel Alfa confederation.

Romanian Ex General Chitac Not To Pay Compensations To Victims Of 1989 Revolution

13:25, 02 Iun. 2010
The Bucharest Court of Appeals admitted the request of former high-ranking general Mihai Chitac and annulled two rulings issued in 2005 which compelled him to pay compensations of 2 million lei (EUR1=RON4.1835) to the victims of the anti-communist Revolution of December 1989.