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Romanian Ctrl Bk Rate Cut Impact Deemed Modest – Analysts

19:38, 04 Feb. 2009

Romanian central bank’s decision to cut the key rate will not have a significant impact upon inter-bank interest rates that will have been slashed more aggresive if the central bank would have reduced the minimum required reserves ratios for leu liabilities, economic analysts said Wednesday.

Romanian Trans Min Blames Ex-Min For Roads Authority’s ‘Difficult’ Situation

18:58, 04 Feb. 2009

Romania’s public roads authority CNADNR might see its accounts blocked over unpaid debts, said Transport Minister Radu Berceanu, who blames former minister Ludovic Orban for this situation.

Romania’s RomTelecom May Buy Boom TV For EUR50M – Sources

18:57, 04 Feb. 2009

Romania's largest fixed-line operator RomTelecom, majority-owned by Hellenic Telecommunications Organization, or OTE, might take over digital satellite television Boom TV, operated by DTH Television Group, for EUR50 million, sources close to the matter told MEDIAFAX on Wednesday.

IMF Advises Romania To Further Cut Budget Spending

18:56, 04 Feb. 2009

The International Monetary Fund, or IMF, advised the Romanian authorities to harshen fiscal policy by significantly cuts in public spending, as revenues for 2009 are unpredictable and grounded on a too optimistic economic growth forecast, governmental sources told MEDIAFAX.

Romanian Liberals To Hold Congress On March 20-21

18:46, 04 Feb. 2009

The Standing Delegation within the Romanian National Liberal Party decided Wednesday, with a wide majority of votes, to call an extraordinary party congress on March 20-21, said party president Calin Tarceanu.

Romanian PM Sacks Min Resources Agency Head, Calls For Lease Contract Declassification

17:39, 04 Feb. 2009

Romanian Prime Minister Emil Boc sacked the head of Mineral Resources Agency ANRM, Bogdan Gabudeanu, and asked for the declassification of the government decision approving the appendix of the Black Sea reserves lease contract.

IMF: Romanian Economy May Shrink In ‘09

17:37, 04 Feb. 2009

The International Monetary Fund, or IMF, said Wednesday that Romania’s economy might shrink in 2009, due to a severe weakening in all economic areas.

Romanian Environ Min Checks Only Environment Aspects In Govt Decisions On Lease Contracts

15:57, 04 Feb. 2009

Romanian Environment Ministry only checked the environment aspects in the appendix of the Black Sea reserves lease contract, according to the law, without knowing the nature of the contract, former environment minister Korodi Attila stated Wednesday.

Michelin To Reduce Production At Two Romanian Units In Feb

15:54, 04 Feb. 2009

Michelin Romania, the local division of French tire maker Michelin Group, will halt production on Saturdays, Sundays and Mondays in February at Silvania plant and on Sundays at RomSteel Cord, both located in Zalau, northwestern Romania, sources close to the matter said Wednesday.

Romanian Rompetrol Case Could Be Sent To Constitutional Court

15:03, 04 Feb. 2009

Attorneys in the case of Dinu Patriciu, the chief executive of Dutch-registered oil company Rompetrol, requested Wednesday the suspension of trial and the file might be sent to the Constitutional Court to clear certain aspects in the Criminal Procedure Code and Capital Market Law.

Black Sea Reserves Lease Contracts Extended By All Romanian Govts – Ex-Ruling Party

15:02, 04 Feb. 2009

The contracts on the Black Sea reserves lease were signed by the government in 1992, and subsequently extended by all Romanian governments, according to a press release of the National Liberal Party, or PNL, part of the former governing coalition.

Over 130 Questioned In Romanian Weapon Heist

14:55, 04 Feb. 2009

Romania’s prosecutor general Codruta Kovesi said Wednesday more than 130 people are heard in the investigation regarding the disappearance of weapons from the military base at Ciorogarla, near capital city Bucharest.

Romanian Govt Should Clear Up Black Sea Reserves Lease Issue – Upper House Speaker

14:51, 04 Feb. 2009

Mircea Geoana, the Senate Speaker and the president of Romania's Social Democratic Party, stated Wednesday that the government should clear up the secret Black Sea reserves lease granted at the end of the former government’s mandate.

Romanian Ctrl Bk Cuts Key Rate By 0.25 Pps To 10%, Keeps Min Req Reserves Ratios

14:25, 04 Feb. 2009

The Romanian central bank decided to cut the key rate by 0.25 percentage points to 10%, meeting analysts expectations, and kept the minimum required reserves ratios unchanged, the central bank announced Wednesday.

Romania’s Agent At ICJ Becomes State Secretary With Foreign Affairs Ministry

14:12, 04 Feb. 2009

Bogdan Aurescu, Romania’s agent in the trial against Ukraine at the International Court of Justice in The Hague, was appointed state secretary with the Foreign Affairs Ministry, by decision of Prime Minister Emil Boc.

Over 300 Romanian Cos To Can 33,837 Jobs Feb-May – Employment Agency

14:11, 04 Feb. 2009

Over 300 companies, mostly from the private sector, announced they would scrap a total 33,837 jobs countrywide, February through May, according to centralized data of the Romanian National Employment agency.

Romanian Electricity Prices Should Hike – E.ON

13:45, 04 Feb. 2009

Romanian electricity prices should be higher, E.ON Romania’s general manager Frank Hajdinjak said Wednesday in a press conference.

E.ON Romania Wants Higher Gas Prices As Of April

13:38, 04 Feb. 2009

Romanian household natural gas prices should be higher as of April 1, and they are less likely to decrease throughout the year, E.ON Romania’s general manager Frank Hajdinjak said Wednesday.

Lower House Legal Committee Stops Graft Prosecution Against Romanian Ex-PM

13:38, 04 Feb. 2009

The legal committee of Romanian Chamber of Deputies on Wednesday decided 10 to 9 votes not to file a report requesting lawmakers’ approval to prosecute former premier and current lawmaker Adrian Nastase on corruption charges.

Daniel Morar Stays Head Of Romanian Anticorruption Department

13:25, 04 Feb. 2009

The prosecutors section of the Romanian High Council of Magistrates voted unanimously Wednesday to keep prosecutor Daniel Morar at the helm of the country’s Anticorruption Department, or DNA.

Bulgarian Farmers Block Giurgiu-Ruse Border Crossing – Press

12:32, 04 Feb. 2009

Bulgarian farmers will block Wednesday for six hours the border crossing point Giurgiu-Ruse between Romania and Bulgaria protesting against the imports of milk and meat products from the EU and third countries, novinite.com reported.

Romanian Senate Sets Its ‘09 Budget At RON120,582,000

11:30, 04 Feb. 2009

Romania’s Senate voted Wednesday with 85 pros, 7 cons and 4 abstentions its budget for 2009, which amounts to 120,582,000 lei (EUR1=RON4.2971), of which, RON49,960,000 will go to the wage fund and RON22,512,000 to travel indemnities.

Romania’s Chamber Of Deputies OKs Its ’09 Budget

11:14, 04 Feb. 2009

Romania’s Chamber of Deputies approved Wednesday, with 134 votes in favor, 3 votes against and 3 abstentions this year’s draft budget for the Chamber, but liberals said they will contest the vote citing lack of quorum.

Romania’s Dec Net Salary Up 9.4% M-M, On Yr-End Bonuses

10:05, 04 Feb. 2009

Romania's net average salary was up 9.4% on the month in December to 1.489 lei (EUR1=RON4.2971), mainly due to bonuses, the National Institute for Statistics, or INS, said Wednesday.

C Romanian City Targu Mures To Gain Digital Persona

19:08, 03 Feb. 2009

Romanian communications minister Gabriel Sandu said within the ceremony for the instatement of the new Mures county prefect, that the city of Targu Mures will become the first digital city in Romania.

Romanian Bks’ Parent Cos Are Required To Support The Economy – Pres

18:32, 03 Feb. 2009

Romanian President Traian Basescu said Tuesday that parent banks of Romanian lenders are required to ensure the needed funds for financing Romanian economy.

Romanian TMK Resita To Lay Off 200 Employees In ’09

18:31, 03 Feb. 2009

Romania’s steel mill TMK Resita (RESY.RO), owned by Russia's TMK, will lay off 200 employees in 2009, as part of the company’s strategy in the current economic environment, the company said Tuesday.

Romanian Govt To Draft Strategy For Black Sea Resources Exploitation

16:10, 03 Feb. 2009

The Romanian government will draft a strategy for the exploitation of the resources assigned through the decision of the International Court of Justice in the dispute between Romania and Ukraine, in accordance with the national interest, and aiming to consolidate the country’s energy independence.

Romania Wins Black Sea Maritime Delimitation Dispute With Ukraine

15:42, 03 Feb. 2009

The International Court of Justice in The Hague ruled Tuesday in the dispute between Romania and Ukraine on maritime delimitation in the Black Sea and established a single boundary delimiting the continental shelf and exclusive economic zones of each country.

ICJ Decision Allows Romania To Start Exploiting Oil Resources In Black Sea

15:32, 03 Feb. 2009

The Romanian Foreign Ministry said in a press release Tuesday that the ruling of the International Court of Justice allows Romania to start direct exploitation of oil resources that have so far been “blocked”, which helps the country reduce its energy dependence.

Romania To Launch Intl Bids For Black Sea Reserves Lease

15:25, 03 Feb. 2009

Romania's Mineral Resources Agency ANRM will launch international bids to lease the oil and gas reserves in the continental shelf of the Black Sea, expecting “big names” to attend the bids, ANMR president Bogdan Gabudeanu told MEDIAFAX on Tuesday.

ICJ Ruling Does Romania Justice – President

14:30, 03 Feb. 2009

Romanian President Traian Basescu said Tuesday in Budapest, Hungary that the ruling of the International Court in The Hague does Romania justice in the maritime delimitation dispute with Ukraine, adding the ruling is a great success of the Romanian Foreign Ministry.

Italian Court Pays EUR45,000 To Romanian Brothers Wrongly Arrested For Rape

13:48, 03 Feb. 2009

Italian authorities decided to pay nearly EUR45,000 in damages to Romanian brothers Adrian and Gheorghe Nichitean, who have been wrongly detained on charges of sexual assault, Italian paper Cronacaqui reported Tuesday.

State Secretary Appointments Caused Interior Minister To Resign – Sources

13:24, 03 Feb. 2009

The reason which led to the resignation of Liviu Dragnea from the helm of Romania’s Interior Ministry was the refusal of Prime Minister Emil Boc to appoint the state secretary nominations he made within the ministry.

Romanian Ctrl Bk To Gradually Ease Monetary Policy – BCR

13:20, 03 Feb. 2009

The National Bank of Romania, or BNR, will cut the key rate in several steps, of 0.25 percentage points, along with reductions in the minimum required reserve ratios, Lucian Anghel, chief economist within Romanian largest bank BCR, said Tuesday.

Lukoil Romania Hikes Gas, Diesel Oil Pump Price By Up To RON0.14

12:24, 03 Feb. 2009

Lukoil Romania, a unit of Russian oil company Lukoil Holdings, increased Tuesday its gasoline and diesel oil pump prices by up to 0.14 lei (EUR1=RON4.2987), the company said in a statement.

Gorbunov Remains Main Suspect In C Romania Armed Robbery, Double Homicide

11:59, 03 Feb. 2009

The Prosecutors’ Office of the Brasov Court of Appeals dismissed recent rumors and information in the media alleging Moldovan citizen Serghei Gorbunov is no longer the main suspect in the armed robbery that occurred in central city of Brasov last Thursday.