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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.

Romanian Referees To Remain Under Arrest For 29 Days

16:21, 05 Mai 2010

A Romanian court of appeals ruled Wednesday Romanian First League football referee Marius Martis and former referee Ionica Serea, placed into custody for 29 days on charges of corruption, will remain under arrest.

Romanian Parliament Harshens Punishment For Violence Against Police Officers

16:07, 05 Mai 2010

Romania’s Parliament Wednesday adopted an emergency decree amending the Criminal Code and one of the amendments refers to harshening punishment for violence against police officers.

IMF: No Comment On Romania Fiscal Measures Before Agreement

16:06, 05 Mai 2010

The International Monetary Fund won’t present any of the fiscal measures discussed with the Romanian authorities until an agreement is reached, IMF mission chief Jeffrey Franks said Wednesday.

Romanian Lower Chamber Approves EIB Loan Contract For Subway Line Construction

15:47, 05 Mai 2010

Romania’s Chamber of Deputies on Wednesday adopted a draft law regarding a loan from the European Investment Bank (EIB) which will finance a project to upgrade Bucharest’s subway system.

Romanian Ex PM Indicted Again In Chinese Goods Purchase Case

15:16, 05 Mai 2010

Former Romanian Prime Minister Adrian Nastase was indicted again Wednesday in the case of goods purchased from China, after the Chamber of Deputies authorized his prosecution in March 2009.

EC Sends Romania 2nd Letter Of Notice Over Telecom Regulator’s Independence

14:45, 05 Mai 2010

The European Commission has sent a second formal request for information to Romania on the independence of its telecoms regulator ANCOM, under an infringement procedure it opened in January 2009, the Commission said in a press release Wednesday.

Romanian Fmr General Released To Undergo Heart Surgery

14:29, 05 Mai 2010

The Bucharest Military Court of Appeals Wednesday ruled to release from jail for 60 days Romanian former general Mihai Chitac, imprisoned for aggravated manslaughter during the 1989 revolution, to undergo heart surgery.

Romanian Fraud Charged Politician Nati Meir Threatens Suicide

14:08, 05 Mai 2010

Romanian politician Nati Meir appeared Wednesday before the Court of Bucharest in a fraud and currency forgery case and swore before the judge that he would go on a hunger strike and said he would kill himself.

Romanian Senators Set Retirement Age At 55 For Defense, Security Sectors Employees

14:05, 05 Mai 2010

Romanian senators adopted Wednesday, during debates on the country’s pension reform, an amendment that proposes the retirement age for both men and women working in the defense, public order and national security sectors be set at 55.

Senate Chairman Invites Ctrl Bk Head, Fin Min To Talks On Romania’s Economic Situation

13:54, 05 Mai 2010

Romanian Senate Chairman Mircea Geoana said in a press release Wednesday that he invited the country’s central bank governor and finance minister to talks with the Senate’s Standing Office on the country’s economic situation, in the fallout of recent negotiations with IMF experts.

Ford Wants Automobile Craiova Deal Revised

13:48, 05 Mai 2010

Ford Motor Co. requested Romanian authorities to revise a series of terms included in the privatization deal of the auto assembly plant Automobile Craiova the American company bought in 2007.

EU: Romania ‘10 Budget Gap May Reach 8% Of GDP Unless More Measures Taken

13:06, 05 Mai 2010

Romania’s planned budgetary measures may not be sufficient to achieve this year’s deficit target of 6.4% of the gross domestic product and, without additional measures, the gap could reach 8% of GDP by year-end, the European Commission said in its spring forecast Wednesday.

Romanian President, PM, Ministers In Talks Over Recent Negotiations With IMF Experts

12:57, 05 Mai 2010

Romanian President Traian Basescu is in talks Wednesday, at the presidential Cotroceni palace, with Prime Minister Emil Boc and Cabinet members on recent negotiations between Romanian officials and International Monetary Fund experts, sources close to the talks told MEDIAFAX Wednesday.

Romanian Institutions With Overdue Debts For More Than 90 Days To Enter Insolvency

12:54, 05 Mai 2010

Romanian administrative-territorial institutions that can no longer pay debts overdue by more than 90 days, which exceed 15% of the annual local budget, will undergo insolvency and will have to present plans for financial recovery and management reorganization.

EC Revises Up Romania 2010 Inflation Forecast To 4.3%

12:54, 05 Mai 2010

The European Commission revised its inflation forecast on Romania to 4.3% this year from 3.5% previously, as it expects higher excise duties on tobacco and oil to increase inflationary pressures, according to its spring forecast report released Wednesday.

CME Revenues Up 5% In 1Q 2010, To $143.6M

12:44, 05 Mai 2010

Broadcaster Central European Media Enterprises (CME) reported net revenues of $143.6 million for the first quarter of 2010, up 5% from the first quarter of 2009, while its first-quarter operating loss narrowed 73%, to $19.1 million, the group said in a press release Wednesday.

American Rock Group Heaven & Hell Cancel Romanian Festival Performance

12:25, 05 Mai 2010

Representatives of rock music festival Sonisphere in Romanian capital Bucharest said Wednesday that legendary rock group Heaven & Hell have cancelled all their summer performances including the one in Bucharest, because of lead Ronnie James Dio’s poor health.

Romanian Anticorruption Prosecutors Distrain Estates Of Graft Probed Businessmen

11:38, 05 Mai 2010

Romanian anticorruption prosecutors have placed a partial distraint on the estates of businessmen Marius Locic and Costel Casuneanu, currently investigated for graft in the same case as senator Catalin Voicu and Supreme Court judge Florin Costiniu, sources close to the case told MEDIAFAX Wednesday.