English

Romania’s Proprietatea Fund Switches To A RON3.4B Loss In ’08

11:37, 27 Feb. 2009
Romania's Proprietatea Fund reported a 3.43 billion lei (EUR1=RON4.2891) net loss in 2008, compared with a net profit of RON313.1 million in 2007, due to write-downs of its financial assets, according to the company's preliminary results.

Romanian Chief Anticorruption Prosecutor Says 2008 Was Better Than 2006, 2007

11:21, 27 Feb. 2009
Romania’s Anticorruption Department (DNA) head Daniel Morar said Friday at the institution’s activity report meeting that the number of court referrals in corruption cases increased significantly in 2008.

Romania’s January Residential Building Permits Up 2.4% YY

09:59, 27 Feb. 2009
Romania issued 2,469 buildings permits for residential projects in January, up 2.4% on the year, the country’s Statistics Institute said Friday.

Romanian BCR Group ‘08 Net Pft Up 120% Y-Y To RON2B

08:36, 27 Feb. 2009
Romania's BCR Group Friday reported a 120% hike in its 2008 consolidated net profit after taxes and minority interests to a record 2.03 billion lei (EUR541 million), including proceeds from the sale of its insurance operations.

Romanian Soldier Dies In Afghanistan

19:42, 26 Feb. 2009
A Romanian soldier from the 21st Mountain Hunter Battalion died Thursday in Afghanistan while on patrol, when the Humvee he was in ran over a makeshift explosive device.

Romanians Return Cars To Leasing Cos – Ctrl Bk Gov

19:24, 26 Feb. 2009
More and more Romanians return cars to leasing companies and if the unpaid loans will keep growing, the population will be affected, as the bank is only an intermediary, the central bank governor Mugur Isarecu said Thursday.

RBS Romania’s Sale Not Because Of Poor Results – Ctrl Bk Gov

18:59, 26 Feb. 2009
RBS Romania was put for sale not because it would be a "bad bank," but the decision is a commercial one about which Romanian central bank had some knowledge, the central bank governor Mugur Isarescu said Thursday.

6-Year-Old Boy Killed While He, Neighbor Played With Rifle S.Romania

17:14, 26 Feb. 2009
A six-year old boy was shot to death while he and his neighbor were playing with a loaded hunting rifle, police said.

Nine Romanian Railroad Companies To Undergo Restructuring, 4,000 Layoffs

16:58, 26 Feb. 2009
The Romanian Ministry of Transport will begin, in the next three months, restructuring nine railroad companies detached from mother-companies, in a process that involves the layoff of some 4,000 employees, said deputy secretary of state within the ministry, Constantin Axinia.

Romanian Govt To Take Responsibility For New Justice Codes After May 15 – Pres

16:32, 26 Feb. 2009
Romanian President Traian Basescu on Thursday said the government will take responsibility for the new justice Codes after May 15, date by which they are to be analyzed and revised in parliament.

U.S. State Dept Human Rights Report On Romania Criticizes Uninominal Voting Sys

16:21, 26 Feb. 2009
The United States Department of State 2008 human rights report on Romania criticizes aspects of the country’s uninominal voting system whose formula is too complex, as well as the lack of convictions in high-level corruption cases and the existence of ethnic and religious discrimination.

Romania Won’t Scrap Eco-tax On Plastic Bags – Minister

15:09, 26 Feb. 2009
The Romanian government won’t scrap the eco-tax charged for plastic bags and whoever said publicly that the tax would be suspended did not have the government’s approval, environment minister Nicolae Nemirschi said Thursday.

Romanian Car Park Renewal Program Starts Monday, March 2 – Min

13:29, 26 Feb. 2009
Romanian environment minister Nicolae Nemirschi said Thursday that owners of cars older than ten years may start buying new cars as of Monday under the country’s car park renewal program and car numbers for each carmaker will be set Friday.

French Citizen, Arrested In Romania For Pedophilia

13:17, 26 Feb. 2009
A French citizen was arrested Thursday, after being caught engaging in sexual relations with two teenagers in a hotel room in the northwestern Romanian city of Dej.

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.