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Romanian Judge Arrested For Corruption

17:46, 08 Iun. 2010

The Court of Appeals of Craiova, southern Romania, decided Tuesday to place judge Bogdan Diaconescu, of the court of Dolj county, in preventive custody for 29 days, in a corruption case involving another judge of the same court, Laurentiu Anghel, and two lawyers, currently under preventive arrest.

Romanian Opposition’s No-Confidence Motion To Be Read Wednesday, Voted Next Tuesday

16:06, 08 Iun. 2010

The standing offices of Romania’s two chambers of Parliament decided Tuesday that the no-confidence motion submitted by the opposition will be read Wednesday at 10:30 a.m. and put to the vote next Tuesday at 10:00 a.m..

Romania Jobless Rate Falls To 7.7% In May

14:56, 08 Iun. 2010

Romanian unemployment rate fell for the second straight month in May to 7.67%, from 8.07% in the previous month, official data showed Tuesday.

Romania To Stop EC Infringement Procedures Over Tax Evasion Law Before Penalties – Fin Min

14:17, 08 Iun. 2010

Romania’s recently adopted ordinance against tax evasion has determined the European Commission to start infringement procedures, which local authorities will try to stop before any penalties are enforced, Finance Minister Sebastian Vladescu said Tuesday.

Romanian Leu’s Exch Rate Hits 7-Mo Low Vs Euro At 4.2311

13:36, 08 Iun. 2010

Romania’s leu edged lower against the euro in mid trade Tuesday and the central bank’s reference lost 0.3% on the day to RON4.2311 units, the weakest rate in the past seven months.

Romanian Ctrl Bank Lombard Lending At RON1.86B In May

13:27, 08 Iun. 2010

Romanian lenders borrowed 1.86 billion lei (EUR1=RON4.2311) from the central bank through the Lombard facility in May, central bank data showed Tuesday.

Romania 30-Day Overdue Household Loans Up 40% YY In Jan-April

13:00, 08 Iun. 2010

Romanian household payments overdue by more than 30 days for loans worth at least 20,000 lei (EUR1=RON4.281) rose by 40.4% on the year to RON3.98 billion in the first four months, central bank data showed Tuesday.

Romanian Cos Estimate Moderate Employment Increase Btw July-Sept – Poll

11:16, 08 Iun. 2010

Romanian employers estimate that employment will register a moderate increase in the third quarter of 2010, after five consecutive quarters of negative forecasts, according to a poll conducted by human resources company Manpower.

Romanian Unionists Resume Protests Tuesday, Call For Resignation Of Govt, President

10:53, 08 Iun. 2010

Nearly 400 Romanian unionists rallied Tuesday outside Parliament headquarters for the second day in a row, protesting pension and wage cuts and calling for the resignation of the Government and President Traian Basescu.

Romania Parliament To Bring Lustration Bill In Line With Constitution- Lower House Speaker

20:28, 07 Iun. 2010

Romania’s Chamber of Deputies Speaker Roberta Anastase said Monday, after the Constitutional Court ruled the country’s recently adopted lustration bill is unconstitutional, that the Parliament will amend the bill to bring it in line with the Constitution.

Romania Leu Slips Vs Euro Amid Political Uncertainty

20:07, 07 Iun. 2010

The Romanian leu extended early losses against the euro in late trade Monday and closed 0.5% weaker on the day at 4.2325/4.2355 units.

Romanian Opposition’s No-Confidence Motion Submitted To Lower House Monday

19:37, 07 Iun. 2010

Romania’s Chamber of Deputies secretary general Gheorghe Barbu on Monday said the opposition social democrats’ no-confidence motion against the two laws that make up the Government’s austerity plan was submitted Monday with the cabinet of the Chamber’s Speaker.

High Salaries Of Employees Within Certain State-Run Cos To Be Capped – PM

18:43, 07 Iun. 2010

Romanian Prime Minister Emil Boc Monday told lawmakers that employees of certain state-owned companies, who earn high salaries, will have their wages capped, in solidarity with state employees affected by the austerity plan for which the Government seeks a vote of confidence.

Tax Hikes Might Push 50,000 Cos Into Bankruptcy, Up Inflation To 10% – Romania PM

18:43, 07 Iun. 2010

Romanian Prime Minister Emil Boc on Monday said various scenarios revealed that increasing taxes instead of cutting salaries and pensions would have pushed at least 50,000 companies into bankruptcy and triggered a 10% inflation rate, compared to the current inflation target of 3.7%.

PM Asks Lawmakers’ Conf Vote For Austerity Plan, Warns Romania Might Go Into Payment Default

18:10, 07 Iun. 2010

Romanian Prime Minister Emil Boc on Monday asked lawmakers’ confidence vote for the two laws that make up the Government’s austerity plan and warned that Romania might go into payment default unless it cuts budget spending.

Romania’s Constitutional Court Rules Lustration Law Unconstitutional

17:16, 07 Iun. 2010

Romania’s Constitutional Court Monday ruled the country’s recently adopted lustration law is unconstitutional, after the normative act was challenged by several lawmakers.

Romanian Opp Social Democrats To Submit Single No-Confidence Motion Over Govt Austerity Plan

14:18, 07 Iun. 2010

Romania’s opposition Social Democratic Party head Victor Ponta on Monday said his party will submit a single no-confidence motion, not two motions as initially announced, against the two laws that make up the austerity plan for which the Government seeks a confidence vote in Parliament on Monday.

Romanian Opposition Urges President To Hold Referendum On Govt’s Austerity Plan

14:17, 07 Iun. 2010

Romania’s opposition Social Democratic Party on Monday sent an open letter to President Traian Basescu urging him to hold a referendum and see if Romanians agree with the Government’s austerity plan that cuts wages, pensions and jobless benefits.

Romanian Unionists Rally Outside Parliament HQ

14:15, 07 Iun. 2010

Some 500 Romanian unionists rally Monday outside Parliament headquarters, protesting pension and wage cuts and demanding lawmakers to support their voters by rejecting the Government’s austerity plan.

More Than 75% Of Romanians Affected By Crisis – Study

14:00, 07 Iun. 2010

More than 75% of Romanians over 18 have been affected by the global economic crisis - most of them women, entrepreneurs and university-educated employees, as well as people temporarily unemployed, says a study by Mercury Research released Monday.

Romania Leu Down Vs Euro, Exch Rate At 4.218

13:26, 07 Iun. 2010

Romania’s leu edged lower against the euro in mid trade Monday and the central bank’s reference lost 0.3% on the day to 4.218 units, the weakest rate since January 4.

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.