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Romanian Auth ANRM Declassifies Initial Deal On Black Sea Lease

09:58, 01 Apr. 2009
Romania’s Mineral Resources Agency ANRM declassified Tuesday the contract sealed in 1992 with Canada’s Sterling Resources for the crude oil and natural gas reserves in the Black Sea.

Romania Ups Pension Point 3% To RON718.4 As Of April 1

09:48, 01 Apr. 2009
Romanian pensions increase as of April 1 and the pension point will be worth 718.4 lei (EUR1=RON4.2), 3% higher than the previous RON697.5, and will further increase an additional 2%, to RON732.8, as of October 1.

Romanian Senate Legal Committee: Only Courts Allowed To Suspend Driving Licenses

21:15, 31 Mart. 2009
The Romanian Senate's committee for legal matters on Tuesday approved an amendment to Government Emergency Ordinance 9/2009 stipulating that, in fraud cases, driving licenses can be suspended only by courts, not by the issuing authority.

Romania’s Ctrl Bk To Gradually Ease Monetary Policy After Applying IMF-Agreed Measures

19:35, 31 Mart. 2009
The inflation increase and the economic slowdown triggered by lower exports and reduced external financing ask for a prudent view on the monetary policy that will ease gradually together with the implementation of the policy mix agreed with the International Monetary Fund, the central bank said.

FOCUS: Romanian Ctrl Bk’s New Reserve Rule May Have Positive Effects On Lending

19:07, 31 Mart. 2009
The central bank’s decission to cut the reserve ratio on long-term foreign currency liabilities to zero from the current 40% should have a positive effect on the lending activity on medium-term and should ease the pressures upon the leu, the economic analysts said Tuesday.

Romanian, Moldovan Officials Argue Over Border Crossing Ban Legality

19:01, 31 Mart. 2009
Romanian foreign affairs minister Cristian Diaconescu said that the Republic of Moldova launched unfounded accusations against an UE member state, thus showing it has understood nothing of what an European level policy entails.

Romanian Pres Assumes IMF Agreement, Alongside Govt, Ctrl Bk

17:51, 31 Mart. 2009
Romanian President Traian Basescu said Tuesday he assumes, together with the government and the central bank, the agreement with the International Monetary Fund.

Royal House Of Romania, Agrostar Union Fed Pledge To Back Farmers

17:43, 31 Mart. 2009
The Royal House of Romania and the country’s "Agrostar" Union Federation will sign a protocol aiming to back farmers, promote traditional food products and also represent farmers in the European Commission and Parliament to have financial aid granted to Romania extended by 2013.

Romanian Ex Econ Min Seres To Run For MEP Despite Indictment

17:07, 31 Mart. 2009
Romanian Conservative Party secretary general Codrus Seres said Tuesday he is still running for a seat in the European Parliament and doesn’t plan to leave the party despite having been indicted Monday.

Romanian Police Checks Seven Universities, Seizes Suspicious Graduation Files

17:02, 31 Mart. 2009
Cops seized Tuesday, from seven Romanian universities, including the "Alexandru Ioan Cuza" police academy, graduation files suspected of being forged, sourses within the Bucharest District 4 Court told MEDIAFAX.

Merril Lynch Sees Romanian Economy Contracting 3.4% In ’09, 3.1% In 2010

16:16, 31 Mart. 2009
Merrill Lynch revised downwards its forecast on Romania’s GDP contraction in 2009 to 3.4% from the previous 1.5%, but changed upwards the predictions for 2010 to a 3.1% economic contraction from the 5% previously estimated, due to the possible fiscal-adjustment driven by the IMF agreement.

Romania’s Cos See Manager Salaries Flat Or Slightly Higher In ’09 – Ernst & Young

15:21, 31 Mart. 2009
Representatives of Romanian companies forecast a moderate growth of managers’ salaries, and some estimate the salaries will remain unchanged, because of economic turmoil, according to a February Ernst&Young survey.

Political Parties That Governed Romania After 1990 Share The Credit For NATO Accession

15:04, 31 Mart. 2009
Romanian President Traian Basescu said Tuesday during the ceremony celebrating five year’s since Romania’s accession to the North Atlantic Organization that political parties that governed Romania after 1990 can equally take credit for the country’s NATO accession.

Consequences Of Molotov-Ribbentrop Act Still Felt – Romanian Pres

14:56, 31 Mart. 2009
Romanian President Traian Basescu stated Tuesday in a speech marking five years since Romania’s accession to NATO that, although history has condemned the Molotov-Ribbentrop treaty long ago, the consequences of the act can still be felt.

Romania Mulls Reducing Parental Leave To One Year And A Half From Two Years

14:50, 31 Mart. 2009
Romanian Labor Ministry state secretary Mariana Nedelcu said at a meeting organized by the national child protection authority with county departments that the ministry is working on a draft law to reduce parental leave to one year and a half from the current two years.

Clothing Retailer C&A Opens First Store In Romania

14:23, 31 Mart. 2009
The clothing company C&A, part of Swiss-based group Cofra, will open Thursday its first unit in Romania, in Militari Shopping Center from the capital city Bucharest, the company stated Tuesday.

Orange Romania CEO Richard Moat Resigns

14:16, 31 Mart. 2009
Richard Moat has decided to resign from his position as CEO of mobile operator Orange Romania, citing personal reasons, and current commercial director Thierry Millet will take up the office interim, the company announced Tuesday.

Only 11% Of Romanians Favor Same-Sex Marriage – Survey

14:12, 31 Mart. 2009
Only 11% of Romanians are in favor of same-sex marriage, according to a survey which stresses that the social situation for gays, lesbians, bisexuals, transsexuals and transgendered (LGBT) people throughout the European Union remains a problem, EUObserver reported.

Romania Family Doctors Sign Protocol With Health Min, Continue Activity As Of April 1

14:00, 31 Mart. 2009
Romanian family doctors will continue their activity as of April 1, following a protocol signed Tuesday between the representatives of family doctors and Health Ministry officials.

Romanian National, First Foreigner To Be Convicted For Phishing In The USA

13:41, 31 Mart. 2009
A 23 year old Romanian national has become the first foreigner to be convicted by a US court for his part in an international phishing operation, the online edition of the Industry Standard reported.

Romanian Econ Min Replaces Transelectrica Board Member

12:33, 31 Mart. 2009
Romanian economy minister Adriean Videanu appointed Monday Florin Marza as member of Romania’s state-owned power grid operator Transelectrica (TEL.RO) board, replacing Carmen Boagiu, named Monday as well, during the company's shareholders meeting.

Govt Guarantees Freedom Of Press – Romanian PM

12:30, 31 Mart. 2009
Romanian Prime Minister Emil Boc assured the Romanian Press Club (CRP), who had asked for the public debate of the new legal codes, that the Government will take their suggestions into consideration, noting that it will support the media in order to limit the effects of the economic crisis.

Romanian PM To Have Consul Tiberiu Dinu Recalled Amid Interior Ministry Corruption Scandal

12:29, 31 Mart. 2009
Romanian Prime Minister Emil Boc said Tuesday he decided to ask the foreign minister to recall Tiberiu Dinu, Romania’s consul to Milan, Italy, for overstepping his attributions.

Romania’s Short-Term Measures Should Not Affect Euro Adoption In 2014 – Fin Min

11:46, 31 Mart. 2009
The short-term measures taken by the Government should not affect Romania’s medium and long-term objectives, namely entering the European exchange-rate mechanism ERM2 in 2012 and euro adoption set for 2014, finance minister Gheorghe Pogea said Tuesday.

Romanian Ctrl Bk Adviser Sees Curr Acct Gap At 7% Of GDP

11:35, 31 Mart. 2009
Romania’s current account deficit will narrow to 7% of the gross domestic product in 2009, from 12.5% of the GDP at the end of 2008, said Tuesday Lucian Croitoru, an adviser of the central bank governor.

Romanian Amonil Halts Prod, Lays Off 80% Of Employees

11:20, 31 Mart. 2009
Romanian fertilizers maker Amonil (AMO.RO) ceased Monday its ammonia and urea production amid low international and local demand for nitrogen-based fertilizers, and will lay off 80% of its employees, the company announced Tuesday.

Romanian Azomures Puts 600 Employees On Tech Unemployment In Apr

20:19, 30 Mart. 2009
Romania’s fertilizers plant Azomures (AZO.RO) will put approximately 600 employees on technical unemployment in the first part of April, according to "Alternativa 2002" trade union.

Fitch: Romanian Banks Face Pressure On Exchange Rate

19:54, 30 Mart. 2009
The ongoing global financial crisis has exposed Romanian banks to increased risks, through mounting pressure on the exchange rate in an operating environment dominated by foreign banks, Fitch Ratings said in a special report Monday.

EBRD Approves EUR300M Loan To Romania’s Petrom

18:41, 30 Mart. 2009
The Board of the European Bank for Reconstruction and Development approved on March 24 a EUR300 million corporate senior unsecured loan to Romania’s largest vertically integrated oil company Petrom (SNP.RO), for environment investments, according to EBRD data.

Romanian Leu Up Vs Euro, On Alleged Ctrl Bk Intervention

18:10, 30 Mart. 2009
The Romanian leu was the only currency in the region to appreciate against the euro on Monday, dealers suspecting an intervention of the central bank on the interbank market through euro sales to support the leu.

Debate On Codes Must Remain Technical, Not Political – Romanian Justice Min

16:42, 30 Mart. 2009
Romanian justice minister Catalin Predoiu said Monday that the Parliament’s debate on the new codes must remain in a technical-legal context and over-politicizing must be avoided.

Romanian Tourism Min Willing To Fund President’s Daughter EP Campaign

16:15, 30 Mart. 2009
Romanian tourism minister Elena Udrea said Monday she will pitch in if Romanian president Traian Basescu’s youngest daughter, Elena Basescu, needs financial support for her European Parliament election campaign.

Trial Of Former Romanian Ministers Seres, Nagy Starts May 11 At Supreme Court

16:00, 30 Mart. 2009
The trial in which Romania’s former economy minister Codrut Seres and former communications minister Zsolt Nagy are accused of organized crime along four others in a file concerning strategic privatizations will start on May 11 at the High Court of Justice.

Romanian Civil Society Threatens To Take Govt To Court Over Legal Codes

15:31, 30 Mart. 2009
Romanian nongovernment organizations are unhappy with the lack of public debate on the new legal codes and announced Monday that they may take the Government to court for breaking the law of transparency.

Romanian Liberals Call For No-Confidence Vote If Govt Takes Responsibility For Civil, Criminal Codes

15:29, 30 Mart. 2009
The standing office of Romania’s Liberal Party, in opposition, decided unanimously Monday to recommend liberal lawmakers to call for a no-confidence vote in Parliament if the government takes responsibility for the Criminal Code, Civil Code and their respective procedure codes and they become law.

Low No Of Transactions May Lead To Higher Fees – Romanian Real Estate Agencies Assoc

15:04, 30 Mart. 2009
The low number of real estate transactions closed in the last months might trigger the increase of agents’ fees, the representatives of Romanian Association of Real Estate Agencies ARAI said Monday.

WB Recommends Romania To Raise Retirement Age Above 70 By 2050

14:39, 30 Mart. 2009
The World Bank recommends Romania to raise the minimum retirement age over the 70 years old ceiling until 2050 and to keep the taxes at levels corresponding with the current retirement age in order to restore the fiscal balance in the country’s pension system that would register huge gaps.

Cosmote Romania Expands Portfolio To More Than 6 Million Clients

14:13, 30 Mart. 2009
Cosmote Romania, the local unit of Greek Cosmote Group, managed to attract more than six million clients, after it expanded its portfolio by over 2.2 million clients in 2008, the mobile telephony operator said Monday.

Romanian MEP Daianu Not Interested In Ctrl Bk Deputy Governor Position

13:46, 30 Mart. 2009
Daniel Daianu, a member of the European Parliament and of the National Liberal Party, stated Monday, during the party's National Executive Council meeting, that he cannot accept a proposal for the position of deputy governor of the National Bank of Romania.

Romanian Leu Exch Rate At RON4.2392 Vs Euro, Strongest In 2 Mos

13:23, 30 Mart. 2009
The National Bank of Romania computed Monday a daily indicative of RON4.2392 against the euro, the leu’s strongest level in the last two months.