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Romania BCR 09 Net Pft At RON871.7M, Dn 43% YY

09:10, 26 Feb. 2010
Romania’s largest lender Banca Comerciala Romana, or BCR, on Friday reported a net profit after taxes and minority interests of 871.7 million lei (EUR206.3 million) for 2009, down 43% on the year, on higher provision expense and lower fee income due to falling consumer demand for loans.

Romania 2009 Public Debt Rises To 29.3% Of GDP

21:20, 25 Feb. 2010
Romania’s public debt rose to 29.29% of the gross domestic product in 2009 from 21.8% of GDP the year before, according to Finance Ministry data released Thursday.

Romanian Pvt Authority May Lay Off 150 People To Meet Budget Needs

21:15, 25 Feb. 2010
Romanian Privatization Authority AVAS may lay off 150 people, representing over one third of its staff, to meet the budget assigned for 2010, AVAS’s president Aurelian Popa told MEDIAFAX Thursday.

Romanian Magistrates Vote Livia Stanciu For Supreme Court President

17:59, 25 Feb. 2010
Romania’s High Council of Magistrates on Thursday voted judge Livia Doina Stanciu to be president of the country’s High Court of Justice, but the appointment is pending approval by President Traian Basescu.

Romanian PM Calls For Romanian Minority Representation In Hungarian Parliament

17:04, 25 Feb. 2010
The Romanian community in Hungary should be granted representation in Parliament, while instances of minorities being represented by people who do not even know that group’s language should be eliminated, Romanian Prime Minister Emil Boc said.

Romanian Social Democrats Want Two-Chamber Parliament, Compulsory Voting

16:07, 25 Feb. 2010
Romania's leftist Social Democratic Party president Victor Ponta said Thursday he wants the country’s revised Constitution to provide for compulsory voting and a two-chamber Parliament.

Romania PM Pushes For High Speed Rail Line On Paris-Budapest-Constanta Route

14:54, 25 Feb. 2010
Romania’s Prime Minister Emil Boc said Thursday connections must be developed to extend the high speed rail line Paris-Strasbourg-Bratislava towards Budapest, capital city Bucharest and Constanta, on the Black Sea Coast, adding this investment project must become a priority of the Danube Strategy.

Aerosmith To Play Bucharest On June 18

14:40, 25 Feb. 2010
American rock band Aerosmith will play Bucharest on June 18, within the new Aerosmith European tour which starts on June 10 in Sweden, according to the band’s official website, www.aeroforceone.com.

New Law On Early Loan Repayment Fees To Increase Romanian Bank Competition – Watchdog

14:10, 25 Feb. 2010
Changing Romanian legislation on early loan repayment fees will lead to stiffer competition between banks, lower interest rates and restart lending, Competition Council president Bogdan Chiritoiu said on Thursday.

Romanians Spent 6% More On Consumer Goods In ’09, Switched To In-Home Consumption – Survey

14:04, 25 Feb. 2010
Price hikes prompted Romanians to spend nearly 6% more on consumer goods in 2009, compared with 2008, and switch to in-home consumption, which triggered higher sales of edible oil, beer and coffee, according to a survey by market research company GfK.

Romania OMV Petrom 4Q Net Loss Narrows To RON171M

09:41, 25 Feb. 2010
Romania’s largest oil company OMV Petrom (SNP.RO) Thursday reported a net loss of 171 million lei (EUR1=RON4.1269) in the fourth quarter, much lower than RON1.27 billion in the same period a year ago, on reduced revenue.

Romanian Ban On Pension-Wage Cumulus May Be Lifted On Jan 1, ‘11

19:42, 24 Feb. 2010
Romanian Labor Minister Mihai Seitan said Wednesday in the Senate labor committee that the ban on the pension – wage cumulus may be lifted on January 1, 2011, adding this measure “was not imposed forever”.

Romania PM Says Nabucco Gas Pipeline Project Viable

18:18, 24 Feb. 2010
Romanian Prime Minister Emil Boc on Wednesday pleaded in favor of the Nabucco gas pipeline project, saying the project is viable and it must be supported to ensure Europe’s energy security.

IMF: Romania’s Planned Spending Slashes Not Without Risk

16:32, 24 Feb. 2010
Romania’s planned spending cuts in the public sector for 2010 are in line with the government’s consolidation strategy, but not without risks, the International Monetary Fund said in a report.

Romanian Social Democrat Senator Quits Party, Joins Independent Lawmakers

14:48, 24 Feb. 2010
Romanian social democrat senator and former foreign minister Cristian Diaconescu has quit the leftist Social Democratic Party and has joined the group of independent lawmakers, group leader Gabriel Oprea told MEDIAFAX Wednesday.

Romania’s Budget Spending Way Above Employees’ Job Performance, Govt’s Resources – Fin Min

13:43, 24 Feb. 2010
Romania’s Finance Minister Sebastian Vladescu said the country’s budget expenses are way above employees’ job performance and beyond the government’s capability to ensure medium and long-term sustainability, which further hinders investments in infrastructure or healthcare system.

Romanian Health Ministry To Axe 577 Hospital Interim Manager Positions

13:37, 24 Feb. 2010
Romania’s Health Minister Cseke Attila Wednesday announced that 577 hospital interim manager positions would be terminated, bringing the total number to 1,492 from 2,069, and saving up more than 1 million lei (EUR1=RON4.1269) each month.

Romania May Annul Early Profit Tax Payment – Fin Min

13:25, 24 Feb. 2010
Romania's Finance Ministry analyzes the possibility to annul the early payment of the profit tax, minister Sebastian Vladescu told a news conference Wednesday.

About 400,000 Public Sector Employees Received Illegal Wage Bonuses Totaling EUR2M

13:19, 24 Feb. 2010
Romanian Finance Ministry secretary of state Gheorghe Gherghina said Wednesday about 400,000 employees in the local administration sector received illegal wage bonuses totaling EUR2 million in the 2008 and 2009 interval.

CME Rev Down 14% In 4Q 2009, EBITDA Down 45%

12:55, 24 Feb. 2010
Net revenues of broadcaster Central European Media Enterprises (CME) decreased 14% in the fourth quarter of 2009, to $252.1 million, and its EBITDA (earnings before interest, taxes, depreciation and amortization) decreased 45%, to $44.1 million.

Romania To Face No Problems Paying Pensions In 2010 – Labor Min

12:47, 24 Feb. 2010
Romanian Labor Minister Mihai Seitan told a news conference Wednesday Romania will face no problems paying pensions in 2010, as EUR1.7 billion will be allotted from the state budget to serve this purpose, adding the minimum social pension will be set depending on the inflation rate.

Romania January Budget Gap At 0.03% Of GDP

12:40, 24 Feb. 2010
Romania’s consolidated budget deficit stood at 0.03% of the gross domestic product in January, Finance Ministry state secretary Gheorghe Gherghina said Wednesday.

Romania Still Deems Nabucco A Priority, Yet Open To New Plans

10:44, 24 Feb. 2010
Romania considers the Nabucco gas pipeline a priority but will analyze any other initiative that will contribute to the country and the European Union’s energy safety, Prime Minister Emil Boc said Wednesday.

Romania, IMF Set 2010 Budget Gap Target At RON32B

20:59, 23 Feb. 2010
Romania and the International Monetary Fund agreed on a deficit target at the general consolidated budget of 31.9 billion lei (EUR1=RON4.1224) in 2010, according to the supplementary letter to Romania’s standby arrangement with the IMF.

Romania Pledges To Approve Unitary Wage Law Norms By September 2010

20:46, 23 Feb. 2010
Romania’s Government pledged to approve the norms to implement the unitary wage law by the end of September, cut staff expenses, other than wage costs, by 30%, as well as reduce bonuses for civil staff, according to the country’s additional letter of intent to the standby agreement with the IMF.

Romania Pledges To Cut Staff Costs By 0.2% Of GDP In 2010

20:11, 23 Feb. 2010
Romanian government pledged to cut public personnel expenditure by 0.2% of the gross domestic product in 2010, according to the country’s latest additional letter of intent to the standby agreement with the International Monetary Fund.

Romanian CNSAS Member Dinescu Contested Integrity Agency’s Incompatibility Decision

19:00, 23 Feb. 2010
Romanian poet Mircea Dinescu, a member in the Council Studying the Archives of Romania's former secret police Securitate (CNSAS), contested the National Integrity Agency’s decision stating he is incompatible with his position in the Council, people close to the matter told MEDIAFAX Tuesday.

New Mandatory Car Insurance Norms To Intensify Competition Btw Repair Shops – Romania’s Insurers

18:58, 23 Feb. 2010
Romania’s insurers said Tuesday insurance regulator CSA’s decision stating insurers must pay civil liability car insurance (RCA) damage claims before cars are repaired and not after they are taken out of repair shops, will impact prices, as well as the quality of services provided by repair shops.

Romanian Integrity Agency Calls On Parliament To Deny Activist’s Access To Secret Files

17:17, 23 Feb. 2010
Romania’s National Integrity Agency (ANI) asked the Parliament Tuesday to dismiss poet Mircea Dinescu from the Council Studying the Archives of Romania's former secret police Securitate (CNSAS), as the agency’s decision stating Dinescu is incompatible with public office remained final.

Romanian Govt Approves Building Rural Homes For Specialists, Selling Rented State-Built Homes

15:00, 23 Feb. 2010
Romania’s Government Tuesday approved three acts proposed by the Ministry of Regional Development and Tourism, on renting state-built homes, housing specialists in rural areas and improving buildings threatened by earthquakes.

Turner Broadcasting System To Launch truTV, TNT In Romania

14:42, 23 Feb. 2010
The Turner Broadcasting System company wants to launch the stations TNT and truTV on the Romanian market, Gordana Duspara Moriarty, vice-president for Central and Eastern Europe and Benelux, said Tuesday in Bucharest.

Romanian Cos Hiring Jobless People Exempt From Paying Social Security For Six Mos

13:41, 23 Feb. 2010
Romania’s Government on Tuesday approved a decision whereby companies hiring in 2010 people who have been unemployed for at least three months will be exempt from paying social security contributions for the new employees for six months, as long as the new workers are kept for at least one year.

Romanian Telecom Ops To Supply 3G Services On GSM Frequencies

13:34, 23 Feb. 2010
The Romanian branches of telecom operators Orange, Vodafone and Cosmote will be able to supply 3G and high speed mobile internet services through the radio frequencies 900 MHz and 1,800 MHz, which are currently used for GSM communications.

Romania Govt Formally Accepts EUR2.45B Disbursement From IMF

13:06, 23 Feb. 2010
Romania’s government on Tuesday adopted an emergency ordinance allowing the transfer of EUR2.45 billion under a standby agreement with the International Monetary Fund.

Romanian Online Store eMAG Eyes EUR100M Sales In 2010, Up 56% On Yr

12:21, 23 Feb. 2010
Romanian online store eMAG estimates a turnover of EUR100 million this year, up 56% from 2009, when its turnover was down 12%, to EUR64 million.

Romania, Georgia, Azerbaijan Tri-Party Gas Proj Seen Developing Faster Than Nabucco

12:13, 23 Feb. 2010
The tri-party gas project developed by Romania, Georgia and Azerbaijan targeting liquefied natural gas (LNG) transport from the Caspian Sea to Europe, passing through Romania, will develop faster than Nabucco, according to Economy Ministry secretary of state Tudor Serban.

Romania Jan Private Lending Falls 8.2% YY To RON199.3B

12:01, 23 Feb. 2010
Romanian private lending fell 8.2% in real terms to 199.28 billion lei (EUR1=RON4.1252) in January compared with the same month a year earlier, central bank data showed Tuesday.

Romanian PM Threatens To Sack Any Minister Announcing Measures Not Discussed In Govt

11:18, 23 Feb. 2010
Romanian Prime Minister Emil Boc said during the government meeting on Tuesday that he will not hesitate to replace any minister who pledges measures that are not included in the governing program, sources close to the talks said Tuesday.

One Dead, One Injured Among Romanian Troops In Afghanistan – Defense Min

10:40, 23 Feb. 2010
One Romanian soldier was killed and another was injured Tuesday in Afghanistan, Romania’s Defense Ministry said in a statement.

Five Romanian Troops Injured In Improvised Bomb Explosion In Afghanistan

10:33, 23 Feb. 2010
Five Romanian troops were injured in the explosion of an improvised explosive device over which they had driven their armored vehicle in southern Afghanistan, AFP reported Tuesday citing NATO and the local governor.