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Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09

12:32, 19 Nov. 2009
Romanian Finance Ministry revised upward its forecast for economic growth in 2009 and it now expects the gross domestic product to shrink by 7%-7.5%, from a decline of 8% initially estimated, a ministry official said Thursday.

Romania Fin Min: Hiking VAT, Flat Tax A Mistake

12:25, 19 Nov. 2009
Romania would make a “big mistake” to increase the value added tax and the flat tax, as changing them after the effort it took to keep them at the current levels would be procyclic policy, an official of the Finance Ministry said Thursday.

Tax Hikes Unavoidable If Romania Public Sectors Doesn’t Adjust – Ctrl Bker

11:40, 19 Nov. 2009
Romania won’t be able to avoid tax hikes in the coming period unless the authorities implement appropriate adjustments in the public sector, a central bank official said Thursday.

IMF: Parent Banks Reaffirm Commitment To Romania

10:49, 19 Nov. 2009
The parent banks of Romania’s top nine lenders on Wednesday reaffirmed their commitment to keep their exposure to the country and ensure capital adequacy levels over 10% for their subsidiaries, the International Monetary Fund said in a statement.

Romanian Subway Unionists Obey Court Decision, Halt Protests

19:52, 18 Nov. 2009
Romanian subway union leader Ioan Radoi said Wednesday that Metrorex employees will abide by court decision and resume normal subway traffic Thursday.

Bucharest Court Decides Subway Strike Is Illegitimate

19:44, 18 Nov. 2009
The Bucharest Court decided Wednesday that the general strike organized by subway employees is not legal and the protest is to be ceased.

Parent Bks Consider 5% Variation Band To Romania Exposure – Sources

16:39, 18 Nov. 2009
The parent banks of Romania’s top nine lenders, alongside officials of the International Monetary Fund, the European Commission and of Romanian central bank, are considering a 5% variation band to their exposure cap on the Romanian market, participants to the talks told MEDIAFAX Wednesday.

Invest Fund 3TS Cisco Growth Buys Minor Stake In InternetCorp

16:37, 18 Nov. 2009
Romania's online media company InternetCorp on Wednesday said the investment fund 3TS Cisco Growth bought a minor stake in the company, without disclosing either the deal value or the stake size.

Romanian Subway Unionists Reject Court Panel, Strike Legitimacy Trial Suspended

16:14, 18 Nov. 2009
Romanian subway unionists Wednesday rejected the Bucharest Court panel trying the legitimacy of their general strike after their exceptions were overruled and the trial has been suspended until the court decides whether to assign a new panel.

Romania Registered No Deaths Over AH1N1 Virus, But Reported 6 Severe Cases – Official

15:31, 18 Nov. 2009
Romania hasn't registered any deaths because of the AH1N1 flu virus so far, but six severe infection cases were registered and the patients are on life support, Health Ministry state secretary Adrian Streinu-Cercel told a news conference Wednesday.

Romania’s Public Debt Rises To 28.08% Of GDP In Jan-Sep

14:54, 18 Nov. 2009
Romania’s public debt rose to 28.08% of the gross domestic product at the end of September from 21.78% of the GDP at the end of last year, according to Finance Ministry data released Wednesday.

Romanian Court Trying Legitimacy Of Subway Strike Halts Debates On Technicalities

14:34, 18 Nov. 2009
The trial in which the management of Romanian state-owned subway company Metrorex calls on the Bucharest Court to rule on the legitimacy of its employees’ general strike was adjourned Wednesday on technicalities just minutes into the debates.

Romania Made No Capital Repairs On Railway Infrastructure Btw ’08-’09 – Transp Min

14:06, 18 Nov. 2009
Romania’s railroad company CFR SA made no capital repairs on the country's railroad infrastructure during 2008-2009, not on a single kilometer of railway track, although nearly 5,500 kilometers of railway tracks require urgent repair works, Romania's Transport Ministry said Wednesday in a report.

U.S. Backs No Candidate In Romania’s Presidential Race – Ambassador

12:24, 18 Nov. 2009
U.S. Ambassador to Bucharest Mark H. Gitenstein said Wednesday in a press release that the United States has no candidate in Romania’s presidential race due this weekend and no agency of the United States Government is taking actions to influence this race.

Accident-Free Romanian Drivers To Pay Less For Insurance In 2010

11:41, 18 Nov. 2009
Romanian insurance companies will introduce as of January 1, 2010 the bonus-malus system used in civil liability car insurance (RCA), whereby drivers who have not had an accident in 2009 will pay a 10% lower premium in 2010, Romanian insurance regulator head Angela Toncescu said Wednesday.

Romanian RCA Car Insurance Policies To Be Issued Electronically Only Starting 2010

11:39, 18 Nov. 2009
Mandatory civil liability car insurance policies (RCA) will be issued electronically only as of January 1, 2010, Angela Toncescu, head of the Romanian insurance regulator CSA, said Wednesday.

Bucharest Subway Strike Continues, Court Ruling Expected Wednesday

10:39, 18 Nov. 2009
Employees of state-owned subway company Metrorex continue their general strike Wednesday after a new round of failed negotiations over wage raises and the Bucharest Court is expected to rule on the strike’s legitimacy later in the day.

Campaign Staffs Of Romania’s Top Presidential Contenders Agree On Direct Debate Wednesday

09:43, 18 Nov. 2009
Romania’s Social Democratic Party election campaign spokesperson Victor Ponta recently said the election campaign staffs of Romania’s top presidential contenders agreed on a face-to-face debate Wednesday evening, at 8 p.m., at the Parliament Palace.

Two Foreign Bks Take Out EUR2B From Romania On Scarce FX Facilities – Sources

16:45, 17 Nov. 2009
Two international lenders have temporarily withdrawn EUR2 billion in capital from the Romanian market recently, because they were unable to invest in short-term foreign currency facilities, people from the central bank told MEDIAFAX.

Romanian Subway Employees Back To Work, Resume Strike Wednesday

16:42, 17 Nov. 2009
The Bucharest subway was open Tuesday at 4 p.m. after employees halted a general strike that caused major traffic jams across the city, but the protest will be resumed Wednesday.

Romanian Govt Ordinance Reorganizing Public Bodies Ruled Unconstitutional

15:32, 17 Nov. 2009
The Romanian Constitutional Court has ruled unconstitutional a government emergency ordinance reorganizing certain government bodies including the Antifraud Department and Government control department.

TI: Romania Seen As Most Corrupted EU Country, No Progress Since 2008

15:06, 17 Nov. 2009
Romania ranks last among European Union member states in 2009 in the Global Corruption Barometer by Berlin-based watchdog Transparency International (TI), which indicates Romania has made no progress in its fight against corruption since 2008.

Romania To Sell Energy Cos To Finance Investments – Consultant

14:47, 17 Nov. 2009
Romania will sell state-owned companies in the energy sector between 2010 and 2011, to get the money it needs for investments in the sector, according to consultancy firm Horvath & Partners.

Former F1 Pilot Alain Prost To Drive Dacia Duster Competition Model In Ice Race

14:27, 17 Nov. 2009
Former Formula 1 pilot Alain Prost will drive a Dacia Duster competition model in the French Andros Trophy ice racing championship, in a preview of the Romanian carmaker’s first SUV.

FOCUS: Bucharest Subway Strike – Political Games At People’s Expense

12:58, 17 Nov. 2009
People in Romania’s capital city Bucharest found subway entrances closed Tuesday morning because subway employees started a general strike demanding bigger wages, while the country has no legitimate government, holds presidential elections this weekend and is mired in recession.

Romania Has Oil&Gas Reserves For 15 Years – Agency Head

12:51, 17 Nov. 2009
Romania still has oil and natural gas reserves for about 15 years, while its coal reserves may ensure domestic consumption for 30 years, the National Mineral Resources Agency ANRM head said Tuesday.

EU Sends Romania Positive Signals On New Danube Power Plants

12:49, 17 Nov. 2009
Romania received encouraging signals from the European Union authorities and the Danube riverside countries about the country's plans to build new hydro-power plants on the Danube river in joint venture with Bulgaria, hydropower producer Hidroelectrica officials said Tuesday.

Bucharest Court Expected To Rule On Subway Strike Legitimacy Tuesday

10:29, 17 Nov. 2009
Romanian state-owned company Metrorex manager Gheorghe Udriste told MEDIAFAX the Bucharest Court has received a request to rule on the legitimacy of the subway strike started Tuesday.

Romanian Press Not Focused On Election Candidates’ Programs – OSCE Report

20:36, 16 Nov. 2009
An interim report on Romania’s presidential elections, developed by the OSCE Office for Democratic Institutions and Human Rights, said that the Romanian press provides too little coverage to the candidates’ programs.

Romanian Referendum To Downsize Parliament Dominant Issue Of Elections Campaign – OSCE Report

20:35, 16 Nov. 2009
An interim report on Romania’s presidential elections, developed by the OSCE Office for Democratic Institutions and Human Rights, noted that the referendum to downsize the Parliament is the main issue of the election campaign.

Romania Doubles Fines On Black Labor Mkt To RON4,000

17:36, 16 Nov. 2009
Romania’s Labor Inspectorate on Monday said fines on the black labor market have doubled, ranging from 3,000 lei (EUR1=RON4.2962) to RON4,000, according to a normative act effective as of November 16, 2009.

Bucharest Public Transport Co Supplements Transport Vehicles Due To Subway Strike

17:21, 16 Nov. 2009
Public road transport in Romania's capital Bucharest will be supplemented with 12% additional vehicles because of a general strike of subway employees Tuesday, November 17, public transport company RATB general manager Gheorghe Aron said Monday.

Romania Ctrl Bk Cuts Forex Reserve Requirements To 25%

17:15, 16 Nov. 2009
Romania’s central bank on Monday lowered the minimum reserve requirements on foreign currency-denominated liabilities to 25% from 30%, in a move to counter the imbalances following delayed loan tranches from the International Monetary Fund and other lenders.

Launch Of First Romanian Space Rocket Rescheduled For 2010

16:13, 16 Nov. 2009
The launch of the first Romanian rocket into space was rescheduled for the beginning of 2010 after a series of problems caused by weather conditions, people close to the matter said.

Romania Petrom Makes It To Platts 250 Global Energy Companies Top

15:55, 16 Nov. 2009
Romania’s largest oil company Petrom (SNP.RO), owned by Austrian OMV AG, has entered the Platts 2009 global energy companies ranking on the 169th place, being the only Romanian company that made the top.

Most Romanians Would Seek Doctors, Avoid Vaccine, In Case Of AH1N1 Virus Infection

14:21, 16 Nov. 2009
Most Romanians are prepared to go to the doctor at the first symptoms of flu, but less than half of them want to get vaccines against the AH1N1 virus, saying they do not trust the new vaccine because it is insufficiently tested or they don’t see the flu as a real threat.

Romanian Subway Employees Go On Gen Strike Indefinitely Tuesday Over Wages

12:04, 16 Nov. 2009
Romanian subway company Metrorex employees will go on a general strike as of Tuesday, November 17, protesting rejected wage raise claims, and the subway will be closed for eleven hours, between 5 a.m. and 4 p.m., but will function normally from 4 p.m. to 11 p.m..

New Car Registrations In Romania Plummeted In Oct ’09, On Upward Trend In EU States

11:08, 16 Nov. 2009
Romania’s auto market continues to decline although new car registrations in European Union member states have been increasing since June and have been on upward trend since October, according to data of the European Automobile Manufacturers’ Association, or ACEA.

Romania’s Population Sees Growth In September ’09

11:03, 16 Nov. 2009
Romania's population increased in September 2009, when there was a natural positive evolution, the National Institute of Statistics (INS) said Monday.

AH1N1 Flu In Romania: 82 New Infections, 1,335 Total Cases

14:32, 15 Nov. 2009
Romania’s Health Ministry Sunday confirmed other 82 infections with the AH1N1 virus in the last 24 hours, bringing the total number of infections to 1,335.