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Immoeast Postpones, Cancels EUR2.4B Proj In Romania

13:23, 18 Dec. 2008
Austrian investment fund Immoeast, one of the largest investors on the Romanian real estate market, will postpone or cancel 54 projects in Romania, with a total market value of EUR2.4 billion, according to the company’s financial report on the quarter between August 1 and October 31.

Car Part Mkr Draexlmaier Hunedoara To Fire 200 People In First 3Q Of 2009

12:38, 18 Dec. 2008
Two hundred employees of Romanian car part maker Draexlmaier Hunedoara will be laid off in the first nine months of 2009, union vice-president Constantin Aldescu said Thursday.

Bucharest Court Of Appeals To Try NGO Suit On Car Tax On Jan 20, ‘09

11:35, 18 Dec. 2008
The Bucharest Court of Appeals set the debate on the annulment and on the suspension of the Government Emergency Ordinance tripling the tax on used cars for January 20, after rejecting the request filed by non-government organization Civil Society Commissariat to solve the case sooner.

Bucharest Stock Exchange GM To Resign

10:57, 18 Dec. 2008
Bucharest Stock Exchange general manager Stere Farmache informed Wednesday the bourse's Council on his intention to resign due to an offer received from the private sector, but will remain the bourse’s president.

Romania’s Future Govt, EIB, EC To Discuss Renault, Ford State Guarantees

10:07, 18 Dec. 2008
The future Romanian government will discuss with the European Investment Bank (EIB) and the European Commission on granting state guarantees to carmakers Renault and Ford for EIB loans totaling EUR500 million, and the government might decide on the issue in the first quarter of 2009.

Irish Govt Maintains Labor Restriction For Romanians, Bulgarians

20:34, 17 Dec. 2008
The Irish government decided Wednesday to maintain the labor permit policy for Romanians and Bulgarians after January 1 as well, but the citizens of these two countries will be favored compared to citizens outside the EU, according to a press release issued by the concerned ministry in Dublin.

Half Of Romanian Cos May Consider Layoffs In ‘09 – Survey

20:15, 17 Dec. 2008
Almost half of Romanian companies will keep or even decrease their number of employees in 2009, while 18% consider the “freezing” of salaries, given that 24% of the companies estimate results below expectations, according to a survey of consultancy company Hay Group.

Renault Romania Welcomes Triple Tax On Used Cars

19:17, 17 Dec. 2008
Renault Romania on Wednesday welcomed the government’s decision to triple a registration tax on used cars, saying the measure will reduce used car imports and will help the local ailing auto industry.

Romania’s Fin Min: ’08 Budget Def To Be Between 3% And 4% Of GDP

18:48, 17 Dec. 2008
Romania's consolidated budget deficit will be at the end of the year between 3% and 4% of the gross domestic product, or GDP, the country's Finance Minister Varujan Vosganian said Wednesday.

Italian Court Puts Romanian Behind Bars For 11 Yrs In Rape Case

18:45, 17 Dec. 2008
Romanian citizen Ioan Rus, charged with raping a young woman from Lesotho, in April, was sentenced to 11 years in jail, Corriere della Sera informed online.

Romania 1H Online Advertising At RON33.87M – Survey

18:37, 17 Dec. 2008
Romanian online advertising market reached 33.87 million lei (EUR1-RON) in the first half of the year, close to the RON42.60 million figure reported for the entire year 2007, a survey compiled by IAB Romania and PricewaterhouseCoopers showed Wednesday.

Romanian Troops To Be Pulled From Iraq By Aug ’09

18:25, 17 Dec. 2008
Romanian defense minister Teodor Melescanu said Wednesday that the Romanian army "is not an occupational force" in Iraq, but it is prepared to offer the support that the Iraqi government requests and to respect the date set by Bagdad as deadline for Romanian troop presence.

Romanian PM Urges Future Coalition Govt To Rethink Governing Program

17:03, 17 Dec. 2008
Romania’s outgoing Prime Minister Calin Tariceanu urged democrat liberals and social democrats to rethink their governing program, saying Romania needs an anti-crisis program, not unrealistic and unsustainable measures that would impoverish the country and “bury the economy”.

Oil Tank In Romania’s Petromidia Refinery Catches Fire

16:51, 17 Dec. 2008
An oil tank at Romania’s Rompetrol Rafinare (RRC.RO), the refining unit of the country's second-largest oil company Rompetrol Group NV, caught fire Wednesday afternoon, but no victims were reported.

Romanian Bugdet Def Seen At 3.9% Of GDP In ’08, 5.8% Of GDP In ‘09 – Sources

16:31, 17 Dec. 2008
Romania’s budget deficit will grow to 3.8%-3.9% of the gross domestic product in 2008 and will further advance to 5.5%-5.8% of the GDP in 2009, governmental sources told MEDIAFAX Wednesday.

Romanian Accused Of Killing Chad President’s Son, Extradited To France

16:10, 17 Dec. 2008
The Romanian Supreme Court ruled Wednesday to extradite to France Romanian citizen Marin Cioroianu, a former legionnaire in the Foreign Legion, accused of involvement in the killing of the elder son of the President of the Republic of Chad.

Nokia Could Pay EUR1.8M For Land At Romanian Plant In Jucu – Official

16:00, 17 Dec. 2008
Finnish telecom giant Nokia is looking to buy a 90-hectare plot of land in Romanian northwestern locality of Jucu, where it opened a plant earlier this year.

Base Salaries In Romanian Public Health Sector To Increase 10% On Avg In 2009 – Draft

15:15, 17 Dec. 2008
Base wages in the Romanian public healthcare system will be increased next year by an average 10% in two stages, on Mar 1 and Sept 1, according to a draft emergency decree drawn up by the Health Ministry and up for public debate.

Romanian Democrat Liberals, Social Democrats Picked Ministry Seats

14:47, 17 Dec. 2008
Romanian centrist democrat liberals and leftist social democrats decided Wednesday which ministries will go to which party.

Part of Romania’s Electrica Muntenia Sud Staff Subject To Early Retirement

13:43, 17 Dec. 2008
Part of the employees of Romanian electricity distributor Muntenia Sud will be subject to early retirement, based on an agreement signed between its majority stockholder, Italy’s Enel group, and the trade unions.

Romanians, Bulgarians Without Work Permits Must Leave The Netherlands

13:15, 17 Dec. 2008
Unemployed Romanians and Bulgarians in the Netherlands, as well as citizens of countries that are not member states of the European Union, will have to leave the Netherlands if they lose their job, Sofia Echo daily reported citing the local press.

Romanian Social Democrats, Democrat Liberals To Share Ministries At GMT 1100

12:56, 17 Dec. 2008
Representatives of the Romanian Democratic Liberal Party and the Social Democratic Party will meet Wednesday at GMT 1100 to establish which party takes over which ministry, social democrat leader Mircea Geoana said.

Romanian Social Democrats Choose Interior Ministry – Sources

12:08, 17 Dec. 2008
Romanian social democrat leaders met Wednesday morning in the Senate and chose to take over the Interior Ministry, leaving the Transport Ministry to the democrat liberals, people close to the talks said.

Romanian President To Attend Meeting On New Cabinet Nominees

10:50, 17 Dec. 2008
The takeover of the next Government’s ministries by members of the Social Democratic Party and the Democratic Liberal Party might take place at the presidential Cotroceni Palace and might be attended by the president and by three people from the two political partners.

Steaua Owner Says Will Retire From Public Life To Herd Sheep

19:20, 16 Dec. 2008
FC Steaua Bucureşti owner George Becali on Tuesday said he will withdraw from the public life to become “banker, media group owner and shepherd.”

US Embassy To Bucharest Says It Received Suspicious Envelope

18:57, 16 Dec. 2008
The U.S. Embassy to Bucharest on Tuesday announced it has received a suspicious envelope containing an unidentified white powder.

Romanian Justice Ministry To Be Led By Independent Min

17:05, 16 Dec. 2008
Romanian social democrat leader Mircea Geoana said Tuesday, at the end of the meeting with the coalition partners in the Democratic Liberal Party, that the Ministry of Justice will be led by an independent minister, in accordance with the agreement between the social democrats and democrat liberals.

New Govt Plan To Lead To 6% Of GDP Budget Def In ’09 – Romania’s Fin Min

16:44, 16 Dec. 2008
The fiscal incentives in the new Romanian governing plan draft, the VAT cut, supplementary allowances for health, education and minimum pensions will lead to a budget deficit of 6% of the GDP in 2009, Romania's finance minister Varujan Vosganian said Tuesday.

Romanian New Govt To Have 18 Ministries, Deputy PM, Minister For The Relation With Parliament

16:42, 16 Dec. 2008
Romania’s future center-left coalition government will have 18 ministries, one prime minister, one deputy prime minister and a minister for the relation with Parliament, designated premier Emil Boc said Tuesday following a meting with coalition partners.

New Romanian Govt To Allocate Average Subsidy Of RON1.500 Per Hectare For Farmers

16:05, 16 Dec. 2008
Romanian farmers will be granted an annual average subsidy worth 1,500 lei (EUR1=RON3.9389) per hectare, and the state will subsidize 30% of loans taken for production, according to the 2009-2012 agenda of the country’s new center-left government.

Romania’s New Govt Plans To Build 1,000 Km Of Highway

15:40, 16 Dec. 2008
Romania’s new center-left government committed to build nearly 1,000 kilometers of highway by 2012 and start works on another 720 kilometers of highway.

Romania’s New Govt To Lower No. Of Emergency Decrees, Reform Judiciary

15:36, 16 Dec. 2008
Romania’s new government plans to enforce extraordinary procedures for recruitment in the judicial system, to grant public and free access to the official database of all normative acts and plans to do away with the excessive use of emergency decrees to pass laws.

Mortgage, Secured Personal Loans, Hardest To Get – Kiwi Finance

15:36, 16 Dec. 2008
Mortgage and secured personal loans are the hardest to get in this period, due to the guarantee pledged by the client, as real estate prices are unstable, Anca Bidian, head of finance company Kiwi Finance, said Tuesday.

New Romanian Govt Pledges To Protect National Cultural Patrimony

15:19, 16 Dec. 2008
The next Romanian government aims to halt the degradation of the national cultural patrimony, as well as to restore, protect and promote this patrimony through the development of integrated projects and of cultural cooperation networks.

Romania’s New Center-Left Govt To Assign 6% Of GDP To Education

14:41, 16 Dec. 2008
Romania’s new Government included in its governing agenda for the period 2009-2012 measures such as ensuring 6% of the gross domestic product for education, promoting a system of salaries for teachers based on performance, as well as decentralizing the pre-univeristy education system.

Romanian Center-Left Govt Outlines 2009-2012 Agr Program

14:36, 16 Dec. 2008
The Romanian authorities mull hiking farming output by stimulating voluntary farmland amalgamation in view of better exploitation, as well as by increasing animal husbandry production, according to the government’s program for 2009-2012.

New Romanian Govt Eyes EUR500 Minimum Wage At Euro Zone Entry

14:33, 16 Dec. 2008
The Romanian government agenda for 2009-2012 states a gross minimum wage of EUR500 when Romania enters the euro zone and targets the sustainability of the public pension system with the pension point maintained at a value of 45% of the gross average salary on economy.

Romanian New PM Says Governing Program To Be Submitted To Parliament Friday

14:27, 16 Dec. 2008
Romania’s designated prime minister Emil Boc said Tuesday the final draft of the center-left coalition’s governing program will be submitted to Parliament Friday, adding the document presented Tuesday in the media is a “working draft".

Romanian New Center-Left Govt Pledges To Ensure Econ Stability, Protect Jobs

13:48, 16 Dec. 2008
Romania’s new center-left government pledged in its ruling program for 2009-2012 to ensure economic stability in the country, protect jobs and maintain the existing flat tax at 16%.

Romania’s New Govt To Reduce Tourism Taxes, Reshape Tourism Auth

13:42, 16 Dec. 2008
Institutional restructuring and the creation of a specialized organization for marketing policies in tourism, as well as the reduction of the number of taxes in tourism are some of the most important tourism measures included in the governing agenda for the period 2009-2012.