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Romanian Cos File For Insolvency To Benefit From Law’s Advantages – Lawyer

13:31, 10 Mart. 2010

Romanian companies with debts have distorted the very purpose of insolvency and very often resort to the measure for its advantages, to shield themselves from foreclosure and from paying debt penalties, said Wednesday Dan Costinescu, partner at law firm Schoenherr si Asociatii.

S&P Raises Romania Outlook To Stable, Citing Budget Reform

10:30, 10 Mart. 2010

Standard&Poor's Ratings Services on Tuesday raised its outlook on Romania to stable from negative, citing budgetary consolidation and expectations that the country would continue to comply with an International Monetary Fund/EU agreement.

Romania’s Feb CPI + 0.2% On Mo, +4.5% On Yr

10:00, 10 Mart. 2010

Romanian consumer prices rose by 0.2% on the month in February, below forecasts, while the annual inflation narrowed to 4.49%, the National Statistics Institute said Wednesday.

Romanian Mayor Suspended Following His Arrest On Corruption Charges

09:54, 10 Mart. 2010

Democrat liberal Antonie Solomon, mayor of Romania’s southern city of Craiova, was suspended from public office Wednesday following his arrest on corruption charges.

Romanian PM Confirms Ministries Are Temporarily Banned From Concluding Advertising Contracts

09:35, 10 Mart. 2010

Romanian Prime Minister Emil Boc Tuesday evening confirmed the Government decided to ban ministries from concluding advertising contracts for the next six months, due to budget constraints, adding that such contracts will not be forbidden as far as European programs are concerned.

Romania To Assign Extra Vouchers For 2010 Clunkers Program – PM

09:33, 10 Mart. 2010

Romanian Prime Minister Emil Boc said Tuesday evening the Government will allot starting next week between 40,000 and 50,000 new vouchers for the 2010 clunkers program, as vouchers originally assigned for this year's program have been exhausted in less than one month.

Romania To Assign Extra Funds For 2010 Clunkers Program – Sources

21:04, 09 Mart. 2010

Romania will assign extra funds for the 2010 clunkers program, as the vouchers originally assigned for this year's program have been depleted in less than one month, sources close to the matter told MEDIAFAX Tuesday evening.

Romania To Declassify Remaining Documents On 1989 Revolution

16:41, 09 Mart. 2010

Romania’s Government on Tuesday decided the last documents and information on the December 1989 anticommunist Revolution would be declassified, Prime Minister Emil Boc said Tuesday.

Romanian Anticorruption Prosecutors Seek Parliament Approval To Arrest Social Democrat Senator

14:46, 09 Mart. 2010

Romanian anticorruption prosecutors called on the justice minister to require Parliament approval to arrest social democrat senator Catalin Voicu, who is accused of influence peddling and fraud.

EBRD 09/10 Investment In Romania Might Top EUR1B

14:35, 09 Mart. 2010

The European Bank for Reconstruction and Development invested EUR721 million in Romanian projects last year, amounting to 70% of the EUR1 billion ceiling agreed with the local authorities, the International Monetary Fund and the EU, an EBRD official said Tuesday.

Reuters Files Insolvency Injunction Against Romanian Media Firms Realitatea Media, NewsIn

14:19, 09 Mart. 2010

British news agency Reuters has demanded the bankruptcy of Romanian firms Realitatea Media and NewsIn, which are part of the Realitatea-Catavencu group, through two claims filed with the Bucharest Court on March 5.

Romania Annual Inflation Seen Slowing To 4.6% In February

13:46, 09 Mart. 2010

Romanian annual inflation is expected to narrow to 4.6% in February from 5.2% a month earlier, according to estimations of the country’s association of financial and banking analysts AAFBR.

Romanian Carmaker Dacia’s First SUV To Be Launched In Romania On March 18

13:38, 09 Mart. 2010

Romanian carmaker Dacia’s first SUV, the Duster, will be officially launched in Romania on March 18, and former Formula 1 pilot Alain Prost, who drove a Dacia Duster competition model in the French Andros Trophy ice racing championship, will be present at the event.

Romanian Agriculture Ministry Careful About Authorizing GMOs – Minister

12:55, 09 Mart. 2010

Romania’s Agriculture Ministry is “careful” about approving the growth of Genetically Modified Organisms (GMO) and authorization will only be granted on the basis of a solid scientific evaluation and proof of economic advantages, minister Mihail Dumitru told MEDIAFAX on Tuesday.

Romanian Job Market Warming Up – Manpower Survey

11:35, 09 Mart. 2010

Romanian employers are slightly more optimistic regarding plans to recruit new staff in April-June, compared to the last six months, according to a survey by recruiting firm Manpower.

Romanian Subway Unionists To Stage Full-Blown Strike On March 18

11:12, 09 Mart. 2010

Unionists with Romania’s state-owned subway company Metrorex will go on full-blown strike Thursday, March 18, after a court ruled their previous two-day strike in November 2009 had been legal, union leader Ioan Radoi said Tuesday.

Romania Plans To Continue Housing Program In 2011 – Sources

18:47, 08 Mart. 2010

Romania’s government plans to continue the housing credit guarantee program in 2011, and the total guarantee ceiling will be established according to the engagements contracted during this year, people close to the matter told MEDIAFAX Monday.

Romanian President Invites Parties To Talks On Constitution Revision – Sources

18:44, 08 Mart. 2010

Romanian President Traian Basescu has invited parties and parliamentary groups to the presidential palace next week for talks on the revision of the country's Constitution, people close to the matter told MEDIAFAX Monday.

Romania, U.S. Builder Bechtel To Sign Agreement For Another 20 Km Of Transylvania Hwy

18:20, 08 Mart. 2010

Romania’s government and U.S. constructor Bechtel will sign an agreement in April whereby the company will continue works on Romania's Transylvania Highway and build another sector of nearly 20 kilometers.

Romanian Capital Mayoralty Mulls Cutting Subsidies For Hot Water

16:50, 08 Mart. 2010

The general mayor of Romania’s capital Bucharest, Sorin Oprescu, said Monday the city hall is considering eliminating subsidies it pays for hot water, saying half the local budget goes to subsidies to the heating company and public transport.

EU To Provide 45,000 Micro-Loans To Unemployed Willing To Start Small Businesses

15:14, 08 Mart. 2010

European Union employment and social affairs ministers on Monday agreed on a new facility to provide 45,000 micro-loans to people who have lost their jobs and want to start or further develop their own small business.

U.S. Constructor Bechtel Puts Layoffs Back On The Table In NW Romania

14:55, 08 Mart. 2010

The employment agency in Cluj county, northwestern Romania, received Monday from American constructor Bechtel a notification on the layoff of over 1,900 employees from the construction site of the Transylvania Highway, but the agency said legal procedures for layoffs have been breached.

Romania February Jobless Rate Rises To 8.3%

14:50, 08 Mart. 2010

Romanian unemployment rose 0.2 percentage points on the month to 8.3% in February, the highest rate since 2003, official data showed Monday.

Romanian Public Sector Unionists To Protest Countrywide Wednesday Over Layoffs, Wage Cuts

13:49, 08 Mart. 2010

Romanian unionists affiliated to union federation Cartel Alfa representing workers in public services, industry, transport and mining sectors will set off protests countrywide Wednesday against planned layoffs and wage cuts in the public sector.

Romania’s Jan Net Salary Dn 3.5% M-M To RON1,426

10:22, 08 Mart. 2010

Romania’s net average salary in January 2010 was at 1,426 lei (EUR1=RON4.0923), down 3.5% compared with the previous month, the National Institute for Statistics, or INS, said Monday.

Romanian National Education Federation Calls For Protests, Even General Strike

17:45, 07 Mart. 2010

Romanian public education union FEN has called for protest action, leading up to an all-out strike, as unionists are dissatisfied with decreased salaries following the implementation of the unitary wage law, the withholding of certain bonuses and layoffs to be carried out as of September 1.

Romania To Spend Extra RON2B On Pensions Each Year, Unless Fraudulent Retirees Removed

15:28, 07 Mart. 2010

Romania will have to increase its pension budget by two billion lei (EUR1=RON4.0923) each year on the medium-term, unless it can save up by removing people who retired by falsely citing illness or injury from the category of pensioners, according to the government’s draft convergence program.

Paula Seling & Ovi To Represent Romania In Eurovision Song Contest

13:33, 07 Mart. 2010

Musicians Paula Seling and Ovidiu Cernauteanu (aka Ovi) will represent Romania in the semi-final of the Eurovision Song Contest, to be held in Oslo, Norway, in May.

Romanian Culture Ministry May Halt Refurbishment Of Several Historical Monuments

15:37, 06 Mart. 2010

Romania’s Ministry of Culture could halt refurbishment work on several historical monuments and redirect resources to other projects, so as to more efficiently use the insufficient amounts received from the state budget, Minister Kelemen Hunor announced Saturday.

Romania GDP Poised To Grow 0.2% In Worse Case Scenario

20:46, 05 Mart. 2010

A very sluggish global recovery could put pressure on Romania’s economic growth in 2010, slowing it down to 0.2% from 1.3% envisaged in the basic scenario, according to the government’s draft convergence program for 2009-2012.

Romanian Govt Approves 10,300 Layoffs In Railway Sector

19:56, 05 Mart. 2010

Romania’s government has approved the list of railway companies that will sack a total 10,301 employees, following recent measures to restructure the railway sector, and layoff procedures will set off in the upcoming period.

Romanian Tax Authority To Comply With 45-Day VAT Reimbursement Deadline

19:55, 05 Mart. 2010

Romanian Finance Minister Sebastian Vladescu announced the bankers and business representatives that the country’s tax authority ANAF will stick to the 45-day reimbursement period for the value added tax, banking association’s head Radu Ghetea said Friday.

Romanian Fin Ministry To Reimburse RON794.5M VAT In March

19:53, 05 Mart. 2010

Romanian Finance Ministry plans to reimburse a total of 794.5 million lei (EUR1=RON4.0923) as value added tax, or VAT, in March.

Rompetrol Might Lack Funds To Repay Whole Debt To Romania

19:51, 05 Mart. 2010

Romanian government estimates the country's second largest oil group Rompetrol might not have sufficient funds to repay its entire debt to the state by the September deadline, due to liquidity shortage.

Vouchers For Romanian Clunkers Program Traded For RON1700

16:57, 05 Mart. 2010

Vouchers worth 3,800 lei (EUR1=RON4.0923) issued for scrapping cars in the Romanian clunkers program are being traded for around RON1,700, two weeks since the program started.

Romania Health Insurance House Has No Funds To Cover Compensated, Free Drugs – Producers

16:29, 05 Mart. 2010

Romania’s Health Insurance House CNAS has no funds to cover compensated and free medicine in 2010, as its budget can only pay last year’s overdue debts of 2.800 million lei (EUR1=RON4.0923), Romanian Association of International Medicine Producers (ARPIM) director Dan Zaharescu said Friday.

Romania May Spend 4-5 Times More On Compensated Medicine Under New Contract – Producers

15:53, 05 Mart. 2010

Romania may have to spend up to five times more on compensated and free medicine for certain patient groups, according to the new frame-Contract on medical assistance in 2010, Romanian Association of International Medicine Producers (ARPIM) director Dan Zaharescu said Friday.