English

Romanian-French Businessman Sentenced To $100M Compensation Payments In Dacia Felix Case

17:09, 28 Apr. 2010
A Romanian Court of Appeals in south-eastern Constanta rejected the annulment appeal filed by Romanian-French businessman Sever Muresan, thus sentencing him to compensation payments of over $100 million and CHF10 million in the Dacia Felix Bank case, said Court representatives Wednesday.

Romanian Chamber Committee Votes To Endorse Integrity Agency Bill

16:43, 28 Apr. 2010
The Romanian Chamber of Deputies’ committee for legal matters on Wednesday adopted with 15 votes in favor and five abstentions a favorable report on the new law regulating the activity of the National Integrity Agency ANI.

Romania Budget Gap Lowered By Spending Cuts, Not Tax Increases – Ctrl Bk Chief

15:55, 28 Apr. 2010
Trimming social and current expenses and stepping up investment can help lowering Romania’s budget deficit, central bank governor Mugur Isarescu said Wednesday.

Romanian Senate Committee Requests Complete List Of State-Funded Companies

15:42, 28 Apr. 2010
Romania’s Economic Committee in Senate requested the country’s Cabinet to issue a complete list of companies that have received state funding for a report which will be compared with the public lists of party financial backers during the electoral campaign, said chairman Varujan Vosganian Wednesday.

Romanian Public Servants To Picket Govt Thursday, Stage Full-Blown Strike On May 5

15:08, 28 Apr. 2010
About 500 Romanian public servants will picket the Government’s headquarters on Thursday and will stage a full-blown strike indefinitely starting May 5, over smaller salaries triggered by the new unitary wage law and planned layoffs in the sector.

Romanian Authorities To Pull Down Illegal Constructions On Black Sea Coast – Decree

15:05, 28 Apr. 2010
The Romanian Government approved an emergency ordinance in its meeting Wednesday, whereby illegal constructions on the Romanian seaside will be pulled down.

Romanian Politician Nati Meir Placed Under Preventive Arrest In Corruption File

15:04, 28 Apr. 2010
Romanian Politician Nati Meir has been placed under preventive arrest for one month in a corruption file that also involves his son, Or Meir, arrested late last week.

Romanian Animal Rights Activists Say Euthanizing Bucharest’s Stray Dogs Is Expensive, Inhumane

14:32, 28 Apr. 2010
Romanian animal rights organization Vier Pfoten said Wednesday it would be cheaper and more effective in the long run to spay and neuter stray dogs in Romania’s capital Bucharest rather than euthanize them, as a draft law sent to Parliament by the capital’s prefect would have it.

Romanian Opposition Social Democrats Submit Simple Motion On Military Pension In Senate

14:28, 28 Apr. 2010
Romanian opposition social democrats and conservatives on Wednesday submitted in the Senate a simple motion regarding military pensions.

Romanian Agriculture Unionists To Protest In Bucharest On May 11

13:59, 28 Apr. 2010
Romanian agriculture union federation Agrostar said 5,000 unionists will protest in capital Bucharest on May 11, mainly over the provisions of Ordinance 44/2008 which compels farmers to register with the Trade Registry in order to be allowed to sell their products in marketplaces.

Romanian Environment Fund To Pay For Electric Car Research Projects

13:32, 28 Apr. 2010
Research programs in Romania for the development and manufacturing of electric cars will be conducted by an inter-ministry workgroup and will be funded from the country’s Environment Fund, which also finances the country’s clunkers program, Economy Minister Adriean Videanu said Wednesday.

Romanian Govt Sets Up Car Pollution Tax Workgroup

13:27, 28 Apr. 2010
Romania’s Government decided Wednesday to put together an inter-ministry workgroup to analyze possible changes to the country's car pollution tax, spokeswoman Ioana Muntean said.

OTP Bank Romania: Dropping Early Repayment Fee Won’t Affect Credit Costs

13:14, 28 Apr. 2010
The Romanian Government’s planned move to eliminate early loan repayment charges is not likely to prompt higher loan costs, but would increase competitiveness instead, an official at OTB Bank Romania said Wednesday.

Romania’s Heating System Leaks EUR500M – Econ Min

13:05, 28 Apr. 2010
Romania is involuntarily contributing to global warming because of losses in its heating system, which near EUR500 million each year, Economy Minister Adriean Videanu said Wednesday.

Real,- Opens Its Largest Romanian Store, In EUR22.8M Invest

12:11, 28 Apr. 2010
Retailer real,- Hipermarket Romania will open in the eastern part of Bucharest its largest local hypermarket, following an investment of EUR22.8 million, company officials told a press conference Wednesday.

Romanian Union Leaders Not Required To Declare Wealth – Draft Integrity Agency Law

12:08, 28 Apr. 2010
The draft law on Romania’s National Integrity Agency, proposed by the Government, no longer compels trade union leaders to declare their wealth, a requirement which is distinctly stipulated in the current law.

Romania’s Economy Might Fall 0.5%-1% In 2010 – Analyst

11:46, 28 Apr. 2010
Romania’s economy could see a contraction this year too since a series of macroeconomic measures have yet to be applied, said Wednesday Radu Craciun, investment manager with private pension fund Eureko Pensii Private.

Romania Ups Clunkers Program Budget To Issue 50,000 Extra Scrapping Vouchers

10:05, 28 Apr. 2010
Romania’s Government on Wednesday supplemented the budget for the country’s clunkers program and will issue 50,000 additional scrapping vouchers.

Romania Integrity Agency Law Under Debate In Chamber Of Deputies Wednesday

19:16, 27 Apr. 2010
The new draft law regulating the activity of the National Integrity Agency (ANI), which was approved by the Romanian Government in its meeting Monday, will be under debate in the Chamber of Deputies’ plenary meeting on Wednesday, Chamber’s democrat liberal secretary Dumitru Pardau said Tuesday.

Romania To Consider Lowering Visa Money Requirement For Moldovan Citizens

17:16, 27 Apr. 2010
Romanian President Traian Basescu said Tuesday that the government will consider lowering the amount of money citizens of the Republic of Moldova are required to have before receiving a visa for Romania.

Most Foreign Tourists Considering Romanian Vacation Expect Country To Be Unsafe

17:08, 27 Apr. 2010
Most foreign tourists who would consider spending a holiday in Romania for the first time think the country is unsafe, said research conducted by the THR Company and issued Tuesday.

Romania To Amend Public Procurement Legislation To Speed Up Procedures, Hinder Abusive Challenges

17:04, 27 Apr. 2010
Romania has amended its public procurement legislation banning bidders from challenging auctions until the procedure is finished and shortening settlement terms to ten days from the previous 20.

Romania Fin Min: IMF Forecast On ’10 GDP Growth May Be Optimistic

16:46, 27 Apr. 2010
The International Monetary Fund’s latest forecast on Romania’s economic growth of 0.8% this year, recently revised down from 1.3%, may be too optimistic, the country's Finance Minister Sebastian Vladescu said Tuesday.

Romanian Senator Serban Mihailescu Indicted On Graft Charges

16:40, 27 Apr. 2010
Romanian anticorruption prosecutors indicted senator Petru Serban Mihailescu, former coordinating minister with the Government’ Secretariat General, on charges of receiving illicit gains and breaching the country’s arms and ammunition legislation.

Ford Romania To Become Export Center For Europe In 2018

16:32, 27 Apr. 2010
Ford Romania will become Ford Motor Co.'s export center for Europe in 2018, or even sooner, in 2016, and the local auto market will sell 500,000 cars annually, Ford Romania’s National Sales Company managing director Paul Flanagan said Tuesday.

Romania’s Law On Stray Dogs To Be Amended, Euthanasia Allowed

16:08, 27 Apr. 2010
The prefect of Romanian capital Bucharest, Mihai Atanasoaei, said Tuesday that a draft law on stray dogs has been sent to the Chamber of Deputies and the amendments include the euthanizing of dogs that are aggressive, gravely ill or that are not adopted within seven days.

EXCLUSIVE: Romanian Social Democrats To Give Discount Cards To New Members On Youth Day

15:36, 27 Apr. 2010
Romania’s leftist opposition party leader Victor Ponta will offer discount cards to new members of the Social Democratic Party (PSD), on May 2, when Romania celebrates youth day, people close to the matter told MEDIAFAX Tuesday.

Romania Ranked Fourth Globally By Internet Connection Speed For Q4, 2009

14:48, 27 Apr. 2010
Romania ranked fourth globally by average Internet connection speed for the final quarter of 2009, which edged up to 7.2 MBps, 28% faster than in the final quarter of 2008, says the “State of the Internet Report” published Tuesday by digital platform company Akamai.

Romanian Branch Of Swiss Media Group Ringier Reports RON57.6M Loss In 2009

14:46, 27 Apr. 2010
The Romanian branch of the Ringier publishing group reported a turnover of RON124.3 million for 2009, down by 27.6% on the year, with an overall loss of RON57.6 million, Ringier heads told a press conference Tuesday.

New Romanian Leftist Party To Be Launched On May 1, In Bucharest

14:34, 27 Apr. 2010
Romania’s newly-created leftist party, National Union for the Progress of Romania (UNPR), will be launched officially on May 1 in the Revolution Square in capital Bucharest, party members told MEDIAFAX Tuesday.

Romania To Ask IMF For Third Waiver On Govt Arrears – Sources

14:05, 27 Apr. 2010
Romania’s Government is planning to ask the International Monetary Fund for a new waiver of non-observance pertaining to the first-quarter performance criteria in the sector of general government arrears, government sources said Tuesday.

Romanian Carmaker Dacia To Boost Duster Production To 460 Units/Day Until End-2010

13:55, 27 Apr. 2010
Romanian carmaker Automobile Dacia, owned by France’s Renault, plans to increase the production of its first SUV, Dacia Duster, to 460 units per day until the end of the year, from its current output of 260 units per day.

Romania Could Have A Third Carmaker, Besides Renault, Ford

13:21, 27 Apr. 2010
Romania has potential, from all points of view, to attract a third carmaker, and there are prospects for a new auto industry investor to set up business in the country, Constantin Stroe, head of Romania’s carmakers association ACAROM, said Tuesday.

Romanian Air Traffic Administration Employees To Be Insured For EUR1M

12:59, 27 Apr. 2010
The Romanian Air Traffic Services Administration, or ROMATSA, will hold an auction on June 10 to acquire employee insurance policies covering loss of license, certificate, or pilot’s license, with estimated premiums of EUR 800,000-1,000,000, according to the terms of supply published Tuesday.

Romanian Police Officer Arrested For Drug Trafficking

12:51, 27 Apr. 2010
Romanian organized crime prosecutors Tuesday arrested a police officer in capital Bucharest for illegal drug trade, after he had also been convicted for theft, said Bucharest Police spokesman Christian Ciocan.

UK Firms Don’t Invest In Romanian Infrastructure Over Difficulty In Getting Paid

12:45, 27 Apr. 2010
British companies don’t invest in Romanian road infrastructure because it’s often difficult for them to get paid for the work they do, the Lord Mayor of the City of London, Nick Anstee, said Tuesday in Bucharest.

Romania’s Govt To Announce By June If Car Pollution Tax Will Be Modified

12:43, 27 Apr. 2010
Romania’s Government will announce by the end of June whether the car pollution tax will be modified and what the modification entails, Government representatives said Tuesday at the Mediafax Talks about Auto Industry conference.

Romanian Workforce, Property Still Cheap, Investors Stand To Gain – PM

12:13, 27 Apr. 2010
Romania’s workforce and property are still affordable, compared to other EU member states, and businesspeople who choose to invest in Romania now stand to gain at the end of the recession and the financial crisis, Prime Minister Emil Boc said Tuesday.

Romanian Carmaker Dacia Q1 Exports At 80,000 Cars, France Tops Germany As Main Export Market

12:03, 27 Apr. 2010
Romanian carmaker Dacia, owned by France’s Renault, exported nearly 80,000 cars in the first quarter of the year, and the main export market was France, which overtook the Romanian carmaker’s biggest export market of last year, Germany, Dacia CEO Jerome Olive said Tuesday.

Romania New Cars Sales Growth Second In EU Under Clunkers Programs

11:02, 27 Apr. 2010
Romania ranks second in the European Union by new car sales this year, overtaken only by the UK, Romanian Environment Minister Laszlo Borbely said Tuesday at the Mediafax Talks about Auto Industry conference in Bucharest.