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Romania 1Q GDP -0.3% On Quarter, -2.5% On Year

10:11, 12 Mai 2010
Romania’s first quarter gross domestic product shrank by 0.3% in real terms compared with the earlier quarter, a flash estimate of the National Statistics Institute showed Wednesday.

Romanian Soldier Killed In Afghanistan

10:08, 12 Mai 2010
A Romanian soldier was killed in Afghanistan Wednesday, Defense Ministry officials said, adding further details would be released later in the day.

Romania To Collect New Taxes To Increase Budget Revenues

10:01, 12 Mai 2010
Romanian Finance Minister Sebastian Vladescu said the country will apply a 16% tax on income gained from copyright, stock activities, the interest generated by bank deposits, mandate contracts, as well as on authorized individuals, newspaper Gandul reported.

Romania To Repeal Laws Regulating Newborn’s Trousseaus, Financial Aid For Newlyweds

09:18, 12 Mai 2010
Romania’s Government will repeal the laws regulating trousseaus for newborns and financial aid for newlyweds, according to a draft emergency decree to reduce social spending.

Romania Must Borrow Extra EUR5B, Apart From IMF Loan, To Meet New Budget Deficit Target

00:03, 12 Mai 2010
Romanian President Traian Basescu said Tuesday Romania should borrow extra EUR5 billion from the market, apart from the EUR3 billion to be disbursed by the International Monetary Fund and the European Union by the end of the year, in order to keep the deficit in the new cap agreed with the IMF.

Romania’s Letter Of Intent To IMF To Be Adopted Only With Prior Ok Of Economic And Social Council

23:57, 11 Mai 2010
Romanian President Traian Basescu Tuesday said he decided, alongside Prime Minister Emil Boc, that the additional letter of intent for the EUR13 billion standby agreement with the IMF will be adopted by the Government only with the prior approval of the country’s Economic and Social Council.

Special Pensions In Romania To Be Drastically Slashed As Of June 1 – Draft Decree

21:19, 11 Mai 2010
Special pensions in Romania will be drastically cut as of June 1, based on a lower pension point and the application of a 90% quota, as "solidarity tax," to the sum left after deducting social contributions and the income tax, according to a draft emergency decree regarding public spending cuts.

Romania No Longer Grants Treatment Vouchers Contracted Via Pension House In 2010 – Draft

21:08, 11 Mai 2010
The Romanian Government will no longer grant the spa treatment vouchers that were to be contracted via the National Pension House in 2010, according to a draft emergency decree regarding public spending cuts.

Romania To Reduce Minimum Social Pensions To RON300 – Draft Decree

20:58, 11 Mai 2010
Romania will reduce minimum social pensions to 300 lei (EUR1=RON4.1756), from the current RON350, and will adjust them according to macroeconomic indicators and the country’s financial resources, according to a draft emergency decree regarding public spending cuts.

Romania’s PC Software Piracy Rate Dn 1 Pct In 2009, To 65% – BSA

19:00, 11 Mai 2010
The rate of software piracy dropped to 65% in Romania in 2009, from 66% in 2008 and losses triggered by software piracy decreased by 22.5%, to $183 million, from $249 million in 2008, according to a report drawn up by Business Software Alliance (BSA).

Romania’s Overdue Debts To Bechtel Might Be Paid Off In Two Weeks – Transport Minister

17:42, 11 Mai 2010
Romania might pay off overdue debts to U.S. constructor Bechtel in two weeks, for works carried out on the Transylvania Highway, but the county lacks funds to continue works on the two highway sectors in Cluj county, northwestern Romania, Transport Minister Radu Berceanu said Tuesday.

Romania Might Regulate Online Gambling

16:40, 11 Mai 2010
The Romanian Finance Ministry is looking into ways to regulate and authorize online gambling and will allow the setting up of a firm tasked with checking the money collection process, Finance Ministry secretary of state Bogdan Dragoi told MEDIAFAX Tuesday.

Ionut Popescu Resigns From Romanian EximBank Board

16:38, 11 Mai 2010
The general manager of Romanian investment fund Fondul Propriteatea, Ionut Popescu, resigned from the managing board of state-owned lender Eximbank, effective May 1, bank representatives said Tuesday.

Liebrecht&wooD To Invest In Retail Park In SE Bucharest

15:46, 11 Mai 2010
Belgian real estate developer Liebrecht&wooD wants to build a retail park, which will include a shopping outlet, in the southeastern part of Bucharest, managing director Johan Rogiers told MEDIAFAX.

Romanian Med Students Sentenced To 16 Yrs In Prison Each In Brutal Murder Case

15:40, 11 Mai 2010
A Court in Timis county, western Romania, on Tuesday sentenced two Romanian medical students to 16 years in prison each for the killing and dismemberment of a man.

Romanian Senate Committees Endorse Integrity Agency Bill

15:36, 11 Mai 2010
The Romanian Senate’s committees for legal matters and human rights on Tuesday unanimously adopted a report endorsing the bill regulating the country’s integrity agency, with amendments to the draft adopted by the lower chamber late April.

Romania Should Implement Structural Reforms To Boost Competitiveness – IMF

15:27, 11 Mai 2010
Romania’s economic competitiveness rose by 15% as a result of a more depreciated leu since the start of the recession, but authorities should undertake structural reforms to take advantage of the gain and further increase efficiency, according to Jeffrey Franks, the IMF’s mission chief for Romania.

IMF: Romania Had More Balanced Options To Tame Deficit

15:12, 11 Mai 2010
The International Monetary Fund recommended a series of “balanced” measures to lower Romania’s growing budget deficit, but the authorities in Bucharest decided to rely almost entirely on public spending cuts, IMF’s mission chief for Romania Jeffrey Franks said.

Orange Romania Set To Launch Cell Phone For Seniors

14:24, 11 Mai 2010
The Romanian branch of mobile services operator Orange will launch Thursday an easy-to-use phone designed for the elderly, with loud volume settings, large keys, vocal playback of numbers dialed, a quick caller list and an SOS key.

Romanian Parliament HQ Picketed By 100 Education Unionists

14:17, 11 Mai 2010
One hundred members of two Romanian education unions picketed Parliament headquarters Tuesday to express dissatisfaction with the salary cuts announced after IMF negotiations and with the draft education law.

Volcanic Ash Plume Exits Romanian Airspace Tuesday

13:58, 11 Mai 2010
The new ash plume from the Icelandic volcano Eyjafjöll will exit Romanian airspace Tuesday, Romania’s Environment Ministry said, citing the latest forecast of the London Volcanic Ash Advisory.

Romania ‘Cash For Clunkers’ Program Doubles Car Registrations In April

13:54, 11 Mai 2010
Romanian new car registrations more than doubled to 8,875 units in April from 4,027 units a month earlier, boosted by the government-funded cash for clunkers program, the Automotive Manufacturers and Importers Association, or APIA, said Tuesday.

Romanian Farmers Picket Govt HQ Tuesday Calling For Subsidies, EU Funds

13:46, 11 Mai 2010
Over 1,200 Romanian farmers picket Tuesday for two hours the Government’s headquarters, calling for payment of overdue subsidies, lower excises on fuel used in farming and access to EU funds.

Romanian Termoelectrica To Be Stripped Of Assets – Econ Min

12:22, 11 Mai 2010
Romanian state-owned power producer Termoelectrica will go bankrupt once the “viable” assets are externalized, but the company’s debts to the state budget cannot be paid, Economy Minister Adriean Videanu said Tuesday.

Romania Slashes Child-Rearing Benefit From June 1 – PM Adviser

11:53, 11 Mai 2010
Romania’s Government will reduce child-rearing benefits starting June 1 and it will soon be decided whether the benefits will drop to a given percentage or a fixed sum, said Tuesday Andreea Paul-Vass, economic adviser to Prime Minister Emil Boc.

Romania Mulls Guaranteeing Homeowner Loans For Thermal Rehabilitation

11:45, 11 Mai 2010
Romania’s Development and Tourism Ministry will present a draft decision in the Cabinet meeting Wednesday whereby the state guarantees bank loans for homeowners’ associations for the thermal rehabilitation of apartment buildings, Minister Elena Udrea said Tuesday.

Romania Has 2,500 Projects Underway, Totaling EUR5.5B In EU Funds

11:17, 11 Mai 2010
Romania has approved 4,200 projects worth EUR9.7 billion to be funded with European money, of which 2,500 projects, worth EUR5.5 billion, have already been signed, Finance Ministry state secretary Bogdan Dragoi said Tuesday.

Romania’s April CPI + 0.35% On Mo, +4.28% On Yr

10:01, 11 Mai 2010
Romanian consumer prices rose 0.35% on the month in April driven by a pick up in non-food and service prices, while the annual inflation accelerated slightly to 4.28%, the country’s statistics institute INS said Tuesday.

Romanian Banks’ Contributions In Deposits Guarantee Fund To Hike As Of 2011

00:53, 11 Mai 2010
Romania’s deposits guarantee fund FGD will consolidate its funds through raising, as of 2011, the contributions of the participating banks and will progressively give up the stand-by credit lines, according to additional documents to the agreement sealed with the International Monetary Fund.

Romania Promises To Revive Privatization Program

00:37, 11 Mai 2010
Romania has pledged to "aggresively" resurrect the privatization program, especially in the industry, energy, transport, tourism or agriculture, as part of its efforts to raise budget revenue to meet the International Monetary Fund requirements.

EU Says Romania „Broadly” Meets Loan Terms

00:17, 11 Mai 2010
Romania has broadly met the policy conditions for a loan from the European Union, but still needs to take additional measures to narrow the budget deficit, the European Commission said Monday.

Romania Pledges Cos Under IMF Monitoring Will Cut Arrears By 2.5%

23:59, 10 Mai 2010
Romania’s Government pledged during negotiations with the International Monetary Fund and the European Commission that each of the ten state-owned companies under monitoring will reduce arrears by 2.5% each quarter, starting with July-September period.

Romania’s Govt Promises IMF To Tax Drug Sellers’ Turnover

23:43, 10 Mai 2010
Romania’s government engages to introduce the tax per planned turnover for the drug distributors, according to the additional document that will be sent to the executive board of the International Monetary Fund, obtained Monday by MEDIAFAX.

Romanian Senate To Adopt Draft Pension Law Tacitly

21:47, 10 Mai 2010
Romania’s Senate Monday evening has canceled debates on the country’s draft pension law, due to lack of quorum, and the normative act will be adopted tacitly.

Romanian Authorities Pledge Not To Uphold Personal Insolvency Bill

20:39, 10 Mai 2010
Romanian authorities said they will not uphold certain draft laws, such as the draft personal insolvency law, in order to strengthen the country’s financial stability, according to the Memorandum of Understanding between Romania and the IMF and EU.

Romania’s Govt Pledges To Enforce Healthcare Co-Payments

20:20, 10 Mai 2010
Romania’s Government pledged that it will introduce the co-payment system for healthcare services and that exemptions from co-payment will not exceed a set cap, according to the country's agreement with the International Monetary Fund and the European Commission.

Romanian Cos’ Budget Debts Rise To RON18.7B End-March

19:41, 10 Mai 2010
Romanian companies’ debts to the consolidated budget rose 8.5% in the first quarter, at 18.69 billion lei (EUR1=RON4.1641), most of them being unpaid obligations to the state budget, according to additional letter of intent to the agreement sealed with the International Monetary Fund.

Romania’s Govt Pledges To Lay Off 70,000 Public Sector Employees In 2010

19:36, 10 Mai 2010
Romania’s Government pledged to reduce the number of public employees to 1.29 million this year by laying off about 70,000 employees in the public sector, according to the country’s additional letter of intent to the EUR13 billion standby agreement with the International Monetary Fund.

Romania To Limit 2011 Public Sector Wage Fund To RON39B

18:35, 10 Mai 2010
Romania will limit the public sector salary fund for next year to 39 billion lei (EUR1=RON4.1641) by reducing the number of employees in the public sector, according to the Memorandum of Understanding between Romania and the IMF and EU.

Romania’s Child-Rearing Benefit To Return To Fixed Rate – Sources

18:05, 10 Mai 2010
Romania’s child-rearing benefit, currently set at 85% of the parent’s average income for the previous year, might return to a fixed rate, said sources who took part in talks with President Traian Basescu Monday.