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Romania’s Used Car Black Market Embezzled EUR47M In 1Q 2010

14:02, 07 Mai 2010

Romania’s black market for used cars reached nearly EUR250 million in the first quarter of 2010 and non-cashed VAT from used cars deals amounts to EUR47 million, said Nicusor Sorescu, sales manager of auto group Radacini Motors, importer of General Motors brands.

Romanian Union Leaders Call For Talks With President, PM, Before Completion Of IMF Negotiations

14:02, 07 Mai 2010

Romania’s five union federation leaders said in an open letter Friday they want to have an emergency meeting with President Traian Basescu and Prime Minister Emil Boc before the agreement with the International Monetary Fund is finalized.

Romania Leu’s Exchange Rate Hits New 4-Mo Low At 4.1874

13:28, 07 Mai 2010

Romania’s leu edged higher against the euro in mid trade Friday, but the central bank set a reference at 4.1874 units, a new four months low versus the European common currency.

NATO Says Missile Defense Is Of Utmost Importance

13:14, 07 Mai 2010

NATO needs to develop an efficient antimissile defense system to cover all its allies and feels the issue is of utmost importance, NATO Secretary General Anders Fogh Rasmussen said Friday after a meeting with Romanian Foreign Minister Teodor Baconschi.

Romanian Deputies Hike Fine For Parents Who Fail To School Children

13:03, 07 Mai 2010

Romania’s education committee decided Friday during education law debates in the Chamber of Deputies that parents who do not send their children to school should receive an increased fine of one to five average wages.

Romania Econ Min Expects EU Answer On Nuke Construction By Fall

12:58, 07 Mai 2010

Romania should have an answer from the European Commission regarding its project to build two nuclear reactors at the Cernavoda power plant by September, Economy Minister Adriean Videanu said Friday.

NATO To Continue Open Doors Policy – Sec Gen

12:13, 07 Mai 2010

NATO Secretary General Anders Fogh Rasmussen said Friday in Bucharest the Alliance will continue its open doors policy and the decisions in this respect made at the Bucharest summit of 2008 will be maintained.

Romania To Merge Financial Guard With Customs Authority To Cut Costs

12:10, 07 Mai 2010

Romanian will merge by yearend its financial guard service with its national customs authority to simplify controls and cut costs, Sorin Blejnar, head of the country’s tax authority ANAF, told MEDIAFAX Friday.

Romanian Pensioners To Stage Countrywide Protest Wednesday

11:51, 07 Mai 2010

Romania’s National Pensioners’ Federation will protest a planned 15% pension cut Wednesday in front of the presidential palace in capital Bucharest and outside prefects’ offices countrywide, federation leader Preda Nedelcu said Friday.

Romania Govt Focuses On Public Sector Restructuring, Not Layoffs – Fin Min

11:44, 07 Mai 2010

The Romanian government is not considering personnel layoffs in the public sector at the moment, Finance Minister Sebastian Vladescu said Friday, adding the talks focus on sector restructuring.

Romanian Union Leaders Plan Ample Protests Over Country’s Austerity Plan

11:10, 07 Mai 2010

Romania’s five union federation leaders met Friday morning to schedule protests which will follow the decrease of pensions, wage funds, unemployment aid rates and subsidies announced by President Traian Basescu Thursday.

About 35% Of Romanian Public Servants With Low Wages To Lose Jobs – Union Leader

21:36, 06 Mai 2010

Romanian National Union Confederation "Cartel Alfa" leader Bogdan Hossu told MEDIAFAX Thursday that about 35% of the public sector employees that have low salaries will lose their jobs if the money allotted to public sector salaries is reduced by 25%.

Romanian President Calls On Unions, Public Sector Employers To Decide Layoffs

21:29, 06 Mai 2010

Romanian President Traian Basescu said Thursday, after meetings with International Monetary Fund representatives, that unions and public sector institution heads must decide who will be laid off by the end of the year.

Wage Fund Reduction To Affect Both Central, Local Administration Sectors – Romanian President

20:54, 06 Mai 2010

Romanian President Traian Basescu said Thursday evening, after talks with the International Monetary Fund officials, the 25% decrease of the public sector salary fund will affect both the central and the local administration sectors.

The State Needs To Urgently Pay Its Debts To Local Cos – Romanian Pres

20:46, 06 Mai 2010

Romanian President Traian Basescu said Thursday that the payment of debts owed by the state to companies is essential in encouraging the resumption of economic growth.

Romanian President Calls For Quick Amendment Of Public Procurement Law

19:35, 06 Mai 2010

Romania’s public procurement law must be amended “quickly” so that procurement procedures become speedier and more transparent, President Traian Basescu said Thursday.

Romanian President Announces Pensions To Decrease By 15%, Public Sector Wage Fund By 25%

19:20, 06 Mai 2010

Romanian President Traian Basescu said Thursday, after talks with International Monetary Fund officials, pensions will decrease by 15% and salary funds in the public sector by 25%, which will also impact the minimum wage, adding subsidies will be drastically reduced.

Romanian Transporters To Stage 15-Minute Protest Friday

17:36, 06 Mai 2010

Romanian passenger transporters will freeze all operations Friday between 14:00 and 14:15 and will call on the Government to extend their route licenses and pay overdue debts to transport operators, transport union federation FORT said in a press release Thursday.

Romanian Court Overrules Fmr Envoy’s Request To Cancel International Arrest Warrant

16:35, 06 Mai 2010

The Bucharest Court of Appeals Thursday overruled the Romanian former envoy Silviu Ionescu’s request to cancel an international arrest warrant issued against him by Singaporean authorities, after he was held responsible for a fatal car accident in Bukit Panjang in December 2009.

Romania Ctrl Bank: Public Sector Must Adjust To Economic Evolution

14:51, 06 Mai 2010

Romania’s EUR13 billion loan agreement with the International Monetary Fund has already produced two of its desired objectives, but the public sector has yet to adjust to the current economic climate before a healthy revival can be seen, central bank governor Mugur Isarescu said Thursday.

Romanian Education Unionists To Picket Parliament Starting Tuesday Over Education Bill

14:31, 06 Mai 2010

All Romanian union federations in education will picket the Parliament’s headquarters starting Tuesday over the country’s draft education law, Federation of Free Unions in Education (FSLI) deputy vice-president Simion Hancescu said Thursday.

Romanian Social Democrats Complete No-Confidence Motion Against Government

13:40, 06 Mai 2010

Romania’s opposition social democrats have completed a no-confidence motion against the country’s Government, which they will submit on May 17, social democrat senator Lia Olguta Vasilescu said Thursday.

Romania Economy At A Crossroads – Central Bank Governor

13:38, 06 Mai 2010

Romania is at a crossroads and it must make a decision to resolve the large discrepancy between revenue and spending, central bank governor Mugur Isarescu said Thursday.

EP Wants EC To Propose, Until End-2011, Complete Ban On Use Of Cyanide Mining

13:30, 06 Mai 2010

European lawmakers want the European Commission (EC) to propose a complete ban on the use of cyanide mining technologies in the European Union before the end of 2011, in a move to protect water resources and biological diversity, the European Parliament (EP) said in a press release Wednesday.

Romanian Leu Hits 4-Mo Low Vs Euro, At 4.1833

13:28, 06 Mai 2010

The Romanian leu strengthened slightly against the euro Thursday but the central bank’s reference lost 0.8% on the day to 4.1833 units, the lowest rate in four months.

Romania Ctrl Bank Chief Sees Less Room For Further Rate Cuts

12:17, 06 Mai 2010

Romania’s central bank is bound to keep a prudent stance in the coming period, as the recent evolutions on the local and external markets give it less room for additional rate cuts, governor Mugur Isarescu said Thursday.

IMF Mission In Bucharest Extends Stay Until May 9

11:56, 06 Mai 2010

The review mission from the International Monetary Fund has decided to extend its visit in Romania until May 9 and to continue negotiations in Bucharest over the weekend, the Fund said Thursday.

Romania Ctrl Bank Ups 2010 Inflation Forecast To 3.7%

11:39, 06 Mai 2010

Romania's central bank revised upward its forecast on the annual inflation to 3.7% at the end of 2010, from 3.5% previously estimated, according to data presented Thursday by governor Mugur Isarescu.

Romanian Police Investigate Teen Death Following Late-Term Abortion

11:31, 06 Mai 2010

Police in Romania southeastern Constanta county are investigating the death of a 15-year-old who died at the local county hospital hours after she had had a late-term abortion.

Romania Absorbed Over 80% Of EU Funds For Schengen Accession, Highest Rate In Europe

10:11, 06 Mai 2010

Romanian Interior Minister Vasile Blaga said Romania has managed to absorb over 80% of the European Union funds earmarked for accession to the Schengen Area and has rejoiced positive reports on maritime, air and ground borders, during various assessment missions.

Romania To Introduce Mandatory Energy Certification As Of June 15

19:29, 05 Mai 2010

Romania will require mandatory energy certification for all real estate transactions starting June 15, according to a draft decree to be approved by the Government.

Romania, IMF Consider Harsher Spending Cuts To Reduce Deficit – Sources

18:52, 05 Mai 2010

Romania and the International Monetary Fund are considering drastic personnel and expenditure cuts to contain the budget gap at below 7% of the gross domestic product in 2010 without having to resort to tax increases, people familiar with the talks told MEDIAFAX Wednesday.

Romania’s Privatization Authority Must Declassify Automobile Craiova Privatization Contract

17:59, 05 Mai 2010

The Bucharest Court of Appeals ruled Romania’s privatization authority AVAS must declassify the privatization contract of Romanian car plant Automobile Craiova currently owned by U.S. carmaker Ford, the Romanian Academic Society said in a press release Wednesday.