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Romanians’ Contributions To Mandatory Pvt Pensions Should Be Sped Up, Not Blocked – Assoc

12:50, 26 Feb. 2009
Romania’s mandatory private pension system (Pillar II) has all the elements to benefit participants and contributions shouldn’t be “cut” but sped up, to ensure decent private pensions, said Thursday Mihai Bobocea, secretary general of Romania’s Association for Private Pensions.

Romanian Mortgage Lending To Revive In A Year At Most – Bk Assoc Head

12:47, 26 Feb. 2009
Mortgage lending in Romania will revive in less than a year as there is still a market and, in spite of the crisis, clients are still looking to buy property, Romanian Banks’ Association ARB president Radu Ghetea said Thursday.

Romania’s Rompetrol Cuts Diesel Oil Pump Prices By RON0.06/Liter

12:39, 26 Feb. 2009
Romania’s second-largest oil company Rompetrol, owned by Kazakhstan's KazMunaiGaz, cut Thursday its diesel oil pump prices by 0.06 lei (EUR1=RON4.2764) per liter, keeping the same price for gasoline, the company said in a statement.

EIU Expects Romania To Negotiate External Loan From EU, Based On IMF Stand-By Agreement

12:25, 26 Feb. 2009
Romania’s Government will negotiate an external financing package with the European Union, based on a stand-by agreement with the International Monetary Fund, in order to rebuild trust and meet its obligations, according to the Economist Intelligence Unit, or EIU.

Thievery Corporation, Back In Romania For B’estfest

12:23, 26 Feb. 2009
American duo Thievery Corporation are coming back to Romania to play B’estfest’s “Zero Day”, on July 1, said festival organizers Emagic.

Romania’s Ctrl Bk Unlikely To Ease Monetary Policy „For Some Time” – EIU

12:03, 26 Feb. 2009
The National Bank of Romania, or BNR, is unlikely to relax monetary policy further for some time, despite liquidity problems in the inter-bank market, Economist Intelligence Unit said in a report.

Romanian Court Puts Off Corruption Trial Of Ex PM For March 24

11:50, 26 Feb. 2009
The trial in which Romania’s former social democrat prime minister Adrian Nastase is charged with corruption regarding fund raising for his presidential election campaign in 2004 was put off for March 24, because several defendants lacked defense.

Romanian Comm Min To Negotiate Infringement Removal With EC

19:50, 25 Feb. 2009
The Romanian Government delegated communications and information society minister Gabriel Sandu to negotiate with the representatives of the European Commission the manner in which the infringement procedures against Romania might be ceased.

Romanian Govt OKs Drafts Of Criminal, Civil Codes

19:30, 25 Feb. 2009
Romanian government on Wednesday approved the Criminal Code draft, as well as the drafts of the Criminal Procedure Code and the Civil Procedure Code, Prime Minister Emil Boc said.

Romanian Govt To Amend Communications Data Recording Law

18:26, 25 Feb. 2009
The Romanian Government decided to amend the law on the recording of data processed in electronic communications networks, correlating it with community legislation by the end of the year, government sources told MEDIAFAX.

Romanian Govt Plans To Speed Up Euro Adoption

14:19, 25 Feb. 2009
The Romanian Government is currently working on a strategy to speed up Romania's euro adoption, before 2014, the established date for its eurozone entry, Romanian Prime Minister Emil Boc said Wednesday.

CME EBITDA In Romania Up 20% On Yr In 2008, To $112M

13:57, 25 Feb. 2009
Central European Media Enterprises (CME) reported earnings before interest, tax, depreciation and amortization (EBITDA) in Romania of $111.78 million last year, up 20% on the year, while the group’s total EBITDA increased 3.8%, to $345.68 million.

Romanian Tourism Would Drop 15-20% In 2009 Without Holiday Tickets – Ministry

13:08, 25 Feb. 2009
Romanian tourist traffic would have dropped by 15-20% in 2009, due to the world economic crisis, unless the government introduced holiday tickets, says the substantiation note of the emergency decree introducing the tickets, drafted by the Ministry of Tourism.

Romanian Petrom To Defer Petrobrazi Refinery Upgrade Until ‘12

12:57, 25 Feb. 2009
Romania’s largest vertically integrated oil company Petrom (SNP.RO) will defer until 2012 the completion of Petrobrazi Ploiesti refinery upgrade project, on the current economic turmoil, the company said Wednesday.

Romania Cuts Over 47,000 Jobs By October

12:52, 25 Feb. 2009
Romania will scrap over 47,000 jobs by October, of which over 3,500 job cut notices were received over the past week, the country’s employment agency said Wednesday.

Romania To Pay U.S. Constructor Bechtel EUR420M For Hwy Construction This Year

12:36, 25 Feb. 2009
Romania’s Transport Ministry will pay EUR420 million this year to U.S. constructor Bechtel for works on Transylvania Highway, based on a protocol the two parties concluded, minister Radu Berceanu told MEDIAFAX Wednesday.

Romanian Govt Targets Upgraded Country Rating In Due Time

12:06, 25 Feb. 2009
The Romanian Government aims to upgrade the country’s rating in a reasonable period of time, in order to secure loans at interest rates providing good financing terms, Premier Emil Boc said Wednesday.

Romanian Senators Oppose Providing High School Students With Computers

11:48, 25 Feb. 2009
Romanian senators rejected, Wednesday, Government Emergency Ordinance no. 168/2008, which provided each high school pupil with a desktop computer, destined for home use.

Romanian Hip-Hop Singer Arrested On Drug Dealing Charges

11:03, 25 Feb. 2009
Romanian hip-hop artist Cristian Ionascu, known as “Gigis”, who sings with the band La Familia, was arrested Tuesday evening by organized crime prosecutors on charges of drug dealing and possession of drugs for personal consumption.

Romanian Parliament Amends Rules To Allow Prosecution Of Ex Ministers With Simple Majority

10:27, 25 Feb. 2009
The regulation commission of the Romanian Chamber of Deputies decided Wednesday that former ministers who are lawmakers may be indicted with the vote of half plus one of deputies present, commission president Iustin Cionca said.

Romania’s Petrom ’08 Net Pft At RON1B, Dn 43% On Yr

09:43, 25 Feb. 2009
Romania’s largest vertically integrated oil company Petrom (SNP.RO) reported a 1.02 billion lei (EUR1=RON4.2810) net profit in 2008, down 43% compared with the RON1.78 billion profit a year before, according to the company's preliminary results.

Suspect Caught In C Romania Double Homicide, Armed Robbery Case

20:31, 24 Feb. 2009
Serghei Gribenco, one of the suspects in the armed robbery in central Romanian city Brasov and organized crime specialist, with a background in counterintelligence and professional operations, was captured, according to Romanian interior minister Dan Nica.

Romanian Plane Mkr Avioane Craiova Asks For RON14M Bailout

19:46, 24 Feb. 2009
Romanian airplane maker Avioane Craiova (AVIO.RO) requested the country’s privatization authority AVAS a bailout of 14 million lei (EUR1-RON4.2810) to avoid bankruptcy, trade union leader Victor Peta said Tuesday.

Romanian PM Hires Niece As Adviser

19:34, 24 Feb. 2009
Romania prime minister Emil Boc hired his niece Mihaela-Eugenia Boc as adviser in his Chancellery, an institution currently undergoing restructuring.

Danish Jysk To Open Up To 5 Units In ’09 In Romania

18:11, 24 Feb. 2009
Danish furniture and interior decorations retailer Jysk will open between 3 and 5 units in Romania this year, thus expanding its network to 13-15 units, the companya stated Tuesday.

Romania Jan Lending Down For 4th Consecutive Mo

17:28, 24 Feb. 2009
Loans in local currency decreased in January by 1.1% in real terms, for the fourth month in a row, while loans in foreign currency, expressed in euros, dropped by 0.1%, compared with 1% last December, according to the data of the National Bank of Romania.

Romanian Employees To Get Holiday Tickets Based On Cos’ Pft

17:24, 24 Feb. 2009
Romanian companies may offer holiday tickets to employees only if they reported profit for the previous fiscal year, according to a government emergency ordinance.

Romanian Ctrl Bk Gov Statements Signal Possible Attacks Upon Leu – Bk Assoc Head

16:36, 24 Feb. 2009
The statements of Romania’s central bank governor Mugur Isarescu signal that there could take place new speculative attacks upon the local currency, the Romanian Banks’ Association ARB president Radu Ghetea said Tuesday.

Romanian Econ, Fin Mins, AVAS Pres To Meet Chem Prod Oltchim Mgmt Wed

16:28, 24 Feb. 2009
Romanian ministers of Economy and Public Finance and the president of the country’s privatization authority AVAS agreed to meet the management of the state-owned chemical producer Oltchim Ramnicu Valcea SA (OLT.RO) Wednesday, to talk on taking over the petrochemical activity at Arpechim refinery.

Volksbank Romania To Shut Down Up To 20 Franchise Units In ’09 On Low Pft

15:46, 24 Feb. 2009
Around 25 Volksbank Romania units operated in franchise system had been closed last year, the bank’s representatives estimating to shut down another 15-20 units in 2009, the lender announced Tuesday.

Volksbank Sees Romania In Crisis Until 2011

14:48, 24 Feb. 2009
Romania will not overcome the current financial turmoil until 2011, when it might "see the light," but still offers more opportunities than other EU states and is one of the emerging markets with the most solid banking sector, Volksbank Romania's president Gerald Schreiner said Tuesday.

Romania May Resort To CEC, Eximbank If Lending Crunch Continues – Senate Speaker

13:08, 24 Feb. 2009
Romanian authorities will assign additional funds to capitalize state-owned lenders CEC Bank and Eximbank and up guarantee funds for small and medium-sized enterprises, unless banks restart the lending activity, Senate chairman Mircea Geoana said Tuesday.

EIB Launches RON150M 7-Yr Bonds, With 12.625% Coupon

12:47, 24 Feb. 2009
The European Investment Bank launched Tuesday a Romanian leu-denominated 7-year bond issue worth of 150 million lei (EUR1=RON4.2833), to be listed on the Luxembourg Stock Exchange.

Romania Won’t Limit Free Circulation Right Of Its Citizens – Foreign Affairs Min

10:20, 24 Feb. 2009
Romanian foreign affairs minister Cristian Diaconescu said Monday evening in Rome, Italy, that Romania will not take any measure to limit the right to free circulation of its citizens.

Lukoil Romania Cuts Diesel Oil Pump Prices By RON0.06 Per Liter

10:16, 24 Feb. 2009
Lukoil Romania, a unit of Russian oil company Lukoil Holdings, cut Tuesday its diesel oil pump prices by 0.06 lei (EUR1=RON4.2833) per liter and kept gasoline prices unchanged, the company said in a statement.

EC Might Start Excessive Def Procedure Against Romania Anytime- PM

09:57, 24 Feb. 2009
Romania is not definitively free of the risk of being sanctioned by the European Commission for an excessive deficit in 2008, because the Commission can start this procedure anytime, Prime Minister Emil Boc said Monday evening.

EBRD May Grant Romania’s BCR An EUR100M Loan To Finance SMEs

20:40, 23 Feb. 2009
The European Bank for Reconstruction and Development is considering a senior loan for up to EUR100 million to Romanian lender Banca Comerciala Romana (BCR) to be on-lent by BCR to small and medium enterprises in Romania, EBRD announced Monday.

Romania’s Dacia Launches New EUR5,000 Logan Via Junk Car Program

19:29, 23 Feb. 2009
Romanian carmaker Dacia, owned by France's Renault, on Monday said it launched a new standard version of its no-thrills Logan Sedan model, which can be bought for EUR4,995 (VAT inclusive) within the country’s car fleet renewal program “The Junk Car.”

Romanian Ctrl Bk ’09 Inflation Target, Very Likely To Be Reached

17:28, 23 Feb. 2009
Romanian central bank’s inflation target of 3.5%, with a one percentage point variation band, for 2009 is very likely to be attained, the central bank’s governor Mugur Isarescu said Monday.

Romania’s Ctrl Bk, Govt Analyze External Loan Conditions – Ctrl Bker

17:17, 23 Feb. 2009
The National Bank of Romania analyzes, together with Government representatives, the right amount to be borrowed from external markets, at the most favorable costs and with a reasonable payback calendar, the central bank’s governor Mugur Isarescu said Monday.