English

Ford’s Stake In Automobile Craiova Up At 97.07% In Takeover Offer

16:06, 11 Aug. 2009
US automaker Ford Motor Company, the majority shareholder of Romania’s auto assembly plant Automobile Craiova (AUCS.RO), bought a 0.34% stake in the plant following the takeover offer, hiking its stake at 97.07%, and will start the delisting procedures.

Romanian Liberals To Present New Law Pack On Education, September 1

15:23, 11 Aug. 2009
Romanian National Liberal Party will present in Parliament on September 1, at the beginning of the parliamentary session, its own law pack on education, which was rejected in March, Horea Uireanu, liberal vice-president in the Chamber of Deputies, said Tuesday.

Romanian Budget To Lose RON140M On Tax-Free Reinvested Pft – Fin Min

15:13, 11 Aug. 2009
The tax exemption on reinvested profit will deprive Romania’s budget of 140 million lei (EUR1- RON4.2143) starting with October, Finance Minister Gheorghe Pogea said Tuesday.

Romanian CFR Calatori To Receive 30% Less Subsidy In’09

14:57, 11 Aug. 2009
The passenger division of Romanian national railroad company CFR could receive from the state budget subsidy worth 612.24 million lei (EUR1 = RON4.2143) this year, which spells a 30.3% decrease from the RON878.28 million granted last year.

Romanian Police Officers’ Rent Problem Remains Unsolved – Unionist

14:42, 11 Aug. 2009
Romanian interior minister Dan Nica promised unionists that there is enough money to cover wages until the end of the year, but the problem of rents remains clearly without a solution, Vasile Lincu, head of the police officers union “Pro Lex”, said on Tuesday.

Romanian Procurement Watchdog Refuses To Present Files To Parl Inquiry Committee

14:15, 11 Aug. 2009
The parliamentary committee investigating Romanian tourism minister Elena Udrea decided on Tuesday to inform Prime Minister Emil Boc that the president of the Authority for Public Procurement refused to present the file regarding the public procurements made by the Tourism Ministry.

Romania Subsidizes Diesel Fuel By RON1/Liter For Autumn Farm Works

13:38, 11 Aug. 2009
Romania’s Agriculture Ministry will grant farmers a subsidy of 1 leu (EUR1=RON4.2143) for one liter of diesel fuel, used in autumn seeding works, minister Ilie Sarbu said Tuesday.

Romania To Operate Massive Layoffs Until June 2010 – Fin Min

13:24, 11 Aug. 2009
Romania’s finance minister Gheorghe Pogea said Tuesday that, although Romania’s letter of intent to the International Monetary Fund (IMF) does not contain any figures with respect to future staff cuts, the country’s commitment to cut spending by 0.6% of GDP entails massive layoffs until June 2010.

Romania’s State Domain Agency Will Lose 20% Of Its Staff Amid Restructuring – Agr Min

12:51, 11 Aug. 2009
Romanian agriculture minister Ilie Sarbu on Tuesday said the State Domains Agency will not be disbanded but its staff will be reduced by 20%.

Romanian State Employees To Take Unpaid Vacations, Work Less To Cut Costs

12:45, 11 Aug. 2009
Romanian public sector employees will take unpaid vacations between September and November, will shorten working hours to six from eight per day or simply work ten days less to cut budget spending by 0.3% of GDP, finance minister Gheorghe Pogea said Tuesday.

Romanian Police, Customs Unionists Protest Over Unpaid Rents

11:53, 11 Aug. 2009
Some 350 members of the Romanian Union of Police Officers and Customs Workers "Pro Lex" are protesting on Tuesday in front of the Ministry of Interior over the funds assigned to the sector and the unpaid rents for the upcoming months of nearly 12,000 officers.

Romania’s July CPI -0.07% MM, Annual Inflation Narrows To 5.06%

11:53, 11 Aug. 2009
The rise in Romanian consumer price index slowed down by 0.07 percentage points in July compared with the previous month, on lower food prices, while the annual inflation narrowed to 5.06%, the National Statistics Institute, or INS, said Tuesday.

Romania Revises Dn GDP Forecast To RON497.3B – Fin Min

11:42, 11 Aug. 2009
Romania has revised its forecast on the gross domestic product growth to 497.3 billion lei (EUR1-RON 4.2088) from RON531 billion, based on an economic contraction of 8%-8.5% in 2009, Finance Minister Gheorghe Pogea said Tuesday.

Romanian TV Producer Valeriu Lazarov Dies At 73

11:17, 11 Aug. 2009
Romanian TV producer Valeriu Lazarov, 73, died Tuesday morning in Madrid, Spain, according to his son Valerio, cited by publico.es.

Romania’s Wage Expenses To Drop 0.5% Annually, To Below 6% Of GDP By 2015 – IMF

16:13, 10 Aug. 2009
Romania’s budget spending on wages in the public sector will be lowered by an annual 0.5% of GDP starting 2010, to end below 6% of GDP in the next four to five years, the International Monetary Fund said Monday.

Romania Registered Other 50 New Cases Of AH1N1 Infection In The 3-9 August Interval

16:08, 10 Aug. 2009
Romania's National Center for Prevention and Control of Infectious Diseases announced other 50 cases of infection with the AH1N1 virus in Romania, in the 3-9 August week.

Romania Might Use IMF Money To Cover Budget Gap – Official

16:04, 10 Aug. 2009
The International Monetary Fund’s mission will recommend its Board to allow Romania allocate part of the coming two tranches from a total EUR12.95 billion aid to cover the country’s budget deficit, a top fund official said Monday.

Romania, IMF Set 2010 Budget Def Below 6% – Sources

16:02, 10 Aug. 2009
Romanian authorities and the International Monetary Fund have agreed on a budget deficit below 6% of the gross domestic product in 2010, from a 7.2% cap allowed this year, people familiar with the talks said Monday.

IMF Sees Romanian Econ Contracting By 8.5% In ‘09

16:02, 10 Aug. 2009
The International Monetary Fund on Monday revised its forecast on Romania’s economic contraction to 8%-8.5% this year, double from its initial estimate of 4.1%, on a deepening recession.

Romanian Liberals Frown On Govt Taking Responsibility For Laws On Wages, Education, Pensions

15:53, 10 Aug. 2009
Romania’s opposition Liberal Party (PNL) disagrees with the government taking responsibility for the laws on pensions, education and unitary pay in the public sector, the party vice-president Ludovic Orban said Monday.

Five Romanians Died On The Spot In Car Crash Near Szeged, Hungary

15:51, 10 Aug. 2009
Five Romanians died in the collision between a car registered in Spain and a Romanian truck on a road in the south of Hungary, near Szeged, the spokesperson of the regional police said Monday.

Romania’s Letter Of Intent To IMF Includes No Figures Regarding Layoffs

15:48, 10 Aug. 2009
Romanian Prime Minister Emil Boc said Monday, that the letter of intent addressed to the International Monetary Fund (IMF) makes no reference to any number of layoffs and such measures will not be arbitrary but will depend on cost analyses made by the government.

Romanian Education Min Frowns On Govt Taking Responsibility For Education Laws

13:23, 10 Aug. 2009
Romania’s education minister Ecaterina Andronescu said she would submit Monday the draft law on education to rectors, school inspectorates and unions in the sector for further public debate.

Romanian Govt To Take Responsibility For Laws On Wages, Education, Restructuring On Sept 2

13:15, 10 Aug. 2009
The Romanian government will take responsibility in Parliament, on Sept 2, for the unitary pay law in the budget sector, the law restructuring government agencies, and the laws on pension-wage cumulus and on education, Prime Minister Emil Boc said Monday after the meeting of the ruling coalition.

Lump Sum Tax To Be Restricted By Domains As Of Jan 1 – Romanian PM

12:51, 10 Aug. 2009
Romanian Prime Minister Emil Boc announced that the Finance Ministry was authorized to support, during Monday’s talks with the IMF, the maintaining of the flat tax at 16%, the non-taxing of the reinvested profit and the introduction of the lump sum tax restricted by domains.

Romania Ups Pensions As Of Oct 1 – PM

12:45, 10 Aug. 2009
Romania will raise the pension point by 2% as of October 1, as stipulated in this year’s state budget law and in accordance with the government’s commitments to pensioners, Romanian Prime Minister Emil Boc said Monday.

IMF: Parent Bks Pledge To Keep Exposure To Romania

12:42, 10 Aug. 2009
The parent banks of Romania’s top nine lenders have signed last week bilateral agreements to keep exposure to Romania unchanged from March’s level and maintain solvency rates above 10%, the International Monetary Fund said in a statement Monday.

Romania’s 1H Trade Gap Narrows 63.4% YY To EUR4.34B

12:40, 10 Aug. 2009
Romania’s trade deficit narrowed by 63.4% in the first six months to EUR4.34 billion from EUR11.19 billion in the same period a year earlier, the National Statistics Institute said Monday.

IMF Agrees To Scrap Plan Forcing Romania To Sack 150,000 State Employees – Sources

11:54, 10 Aug. 2009
Romania’s Social Democratic Party obtained in talks with the International Monetary Fund the elimination of a plan to lay off 150,000 public sector employees and the reduction of unpaid vacation to ten days from a previosu three weeks, sources within the party told MEDIAFAX Monday.

Romanian Sailors Aboard Pirate-Seized Italian Ship Buccaneer Were Released -Foreign Min

11:24, 10 Aug. 2009
The five Romanian sailors aboard Italian ship Buccaneer, seized by Somali pirates on April 11 in the Gulf of Aden, were released Monday morning and will soon return home, Romania’s foreign affairs minister Cristian Diaconescu said Monday.

IMF Mission To Romania To Present Conclusions On Monday

18:14, 09 Aug. 2009
The delegation of the International Monetary Fund (IMF) will present in a press conference on Monday at 13:30 local time the conclusions of the first evaluation of the stand-by loan agreement with Romania approved by the board of the institution in May, the IMF said on Sunday.

Fetesti-Cernavoda Bridge Toll Brings RON400,000 Daily – Romanian Transp Min

17:48, 09 Aug. 2009
Romanian transport minister Radu Berceanu on Sunday said the toll on the crossing of Fetesti bridge brings 400,000 lei (EUR1=RON4.2186) each day and criticized his predecessor for not introducing the toll earlier.

Romanian President Asks Maritime Auth To Cut Prices For Ship Repairs

16:16, 09 Aug. 2009
Romanian President Traian Basescu on Sunday asked the maritime authorities in a meeting in Constanta, southeastern Romania, to reduce the repair prices for ships that come in the naval sites.

Romania’s Electroputere Craiova To Lay Off Some 400 Employees As Of Monday – Unionist

15:22, 09 Aug. 2009
Some 400 employees of electrical equipment maker Electroputere Craiova in Dolj county, southern Romania, will be laid off starting Monday and will receive between five and nine compensatory wages. The process will go on until the beginning of September, unionists said

Romanian Govt Falls If Social Democrats Reject Public Sector Reform – Democrat Liberal

14:01, 09 Aug. 2009
The Romanian Government will fall in September unless the social democrats assume responsibility for reforms and accept reorganization in the public sector, said Vasile Blaga, Secretary General of Romania’s Democrat Liberal Party, on private television channel Realitatea TV.

IMF, Romanian Govt Talk On Freezing Wages, Pensions, Laying Off 10% Of Public Servants

19:28, 08 Aug. 2009
The IMF is negotiating with the Romanian Government the layoff of 100,000-150,000 state employees until the middle of next year, freezing pensions in 2009 and 2010 except the minimum social ones and wages, until the unitary pay law produces its effects, government sources told MEDIAFAX.

Romania To See Second Budget Revision In August – PM

18:33, 08 Aug. 2009
Romania’s Government scheduled this year’s second budget revision for August, Prime Minister Emil Boc said Saturday.

Romanian Education Min Wants To Do Away With Spiru Haret Distance Learning Centers

18:17, 08 Aug. 2009
Romanian education minister Ecaterina Andronescu on Saturday said she suggested several measures that should be enforced by Spiru Haret University in order to function legally, and if it rejects them, the ministry will commence procedure to liquidate the institution.

Romanian Govt Assigns EUR420M To Agr, RON600M For Autumn Crops

16:53, 08 Aug. 2009
The Romanian Government approved EUR420 million in Treasury loan for agriculture programs and other 600 million lei (EUR1=RON4.2186) for autumn’s crops, Prime Minister Emil Boc said Saturday after the Government meeting.

Romania’s Social Democratic Party Won’t Assume Responsibility For Laws On Education

16:48, 08 Aug. 2009
Romania’s Social Democratic Party won’t assume responsibility for the set of laws on education, deeming that parliamentary debate is required, party spokesperson Bogdan Niculescu Duvaz told MEDIAFAX Saturday.