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Romanian SSIF Broker Frowns On Securities Regulator Measures

11:49, 30 Ian. 2009
The decision of Romanian Securities Commission CNVM to temporary suspend the operations of local brokerage company SSIF Broker Cluj-Napoca (BRK.RO) and the company’s shares from trading on the Bucharest Stock Exchange are deemed exaggerated and the reasons grounding the decision are “puerile,” the company’s president Petru Prunea said Friday.

Romanian Securities Comm Suspends SSIF Broker’s Ops For Two Wks

11:49, 30 Ian. 2009
Romanian Securities Commission, or CNVM, suspended Thursday, for two weeks, the functioning licenses of local brokerage company SSIF Broker Cluj-Napoca (BRK.RO) as well as the company’s shares from trading on the Bucharest Stock Exchange.

Romanian PM Urges Ministers To Cut Staff Spending, Issues Warnings

10:35, 30 Ian. 2009
Romanian Prime Minister Emil Boc said Thursday evening on national television that ministers who refuse to cut staff spending and thus, disregard the government’s recent decision to scarp 20% of jobs in the central public administration, will have to find another job.

Romanian Weapon Warehouse Was Unlocked – Sources

10:34, 30 Ian. 2009
The weapons warehouse in Ciorogarla, near Romania’s capital city Bucharest, was unlocked Wednesday morning and hadn’t been checked for two weeks, people close to the investigation said told MEDIAFAX.

Romanian Govt To Modify Fiscal Code, Introduce Tax Exempt For Reinvested Pft – PM

21:14, 29 Ian. 2009
The Romanian government will modify the fiscal code and approve through an emergency ordinance the absolving of reinvested profit taxation and the compensation of the value added tax, or VAT, with the reimbursed sums from the state through VAT, Prime Minister Emil Boc said Thursday.

Staff Spending To Drop From 8.4% To 7.5% Of The GDP – Romanian Fin Min

21:13, 29 Ian. 2009
Staff expenses will drop from 8.4% of the Gross Domestic Product to 7.5% of the GDP in 2009, while spending on the procurement of goods and services ill drop by 1.5 percentage points, from 6.5% of the GDP to 5% of the GDP, said Romanian finance minister Gheorghe Pogea.

Romanian Govt May Ask IMF, EC For A Loan – PM

21:07, 29 Ian. 2009
Romania has indeed problems with the external deficit financing, but has several options such as taking a loan from the European Commission or the International Monetary Fund, none of the solutions being excluded, Prime Minister Emil Boc said Thursday.

Romanian Govt Has Money For Budget Def, Doesn’t Know It – Ex PM

21:02, 29 Ian. 2009
Romania’s former prime minister Calin Tariceanu said Thursday the country’s National Fund for Development has 11 billion lei (EUR1= RON4.2314), which would enable the Executive to cover the funding deficit, adding there is enough money if the Government knew how to look for it and use it.

Romanian Social Insurance Contributions To Be Up 3.3 Pps In 09 – Fin Min

20:16, 29 Ian. 2009
Romanian social insurance contributions will increase by 3.3 percentage points, similar with the level enforced in the first half of 2008, Finance Minister Gheorghe Pogea said Thursday.

Romanian Govt Plans To Rush Tobacco, Alcohol Excises To Hike Budget Revenues – Fin Min

20:13, 29 Ian. 2009
The Romanian Government plans to rush the adjustment of tobacco and alcohol excises in order to hike budget revenues, Finance Minister Gheorghe Pogea said Thursday.

Tax Exempt For Reinvested Pft To Be Enforced As Of 2010 – Romanian Fin Min

19:49, 29 Ian. 2009
Romania will approve the tax exemption of the reinvested profit through an emergency ordinance that will amend the Fiscal Code, but the measure will come into force as of January 1, 2010, Finance Minister Gheorghe Pogea said Thursday.

Romanian Foreign Affairs Min Worried Over Hate Crime Arson Attempts In Italy

19:42, 29 Ian. 2009
Romania’s Foreign Affairs Ministry expressed concern over the arson attempts aimed at two Romanian-owned stores in Italy, following a crime in Guidonia, and added there are some 1 million Romanians living in Italy, and less than 1% of them are convicted criminals.

Romanian ‘08 Budget Def Widening Not Due To Fincl Crisis – Fin Min

19:16, 29 Ian. 2009
Romania’s budget deficit of 5.2% of the gross domestic product in 2008 was not necessarily fueled by the international financial crisis, and the EU might punish the member states that went beyond 3% of the GDP threshold due to other reasons, Romanian Finance Minister Gheorghe Pogea said Thursday.

Romanian Communications Min To Discuss Infringement With Viviane Reding

18:09, 29 Ian. 2009
Romanian communications minister Gabriel Sandu will meet on February 17, in Prague, with European commissioner for information society and media Viviane Reding, to discuss the infringement procedure initiated when Romania breached EU regulations on the independence of its national telecom regulator.

Romanian Govt Allots 20% Of ’09 Budget Spending For Invest – Sources

17:11, 29 Ian. 2009
Romania's Government decided in Thursday’s meeting to assign 20% of the 2009 budget spending for investments, mainly in infrastructure, governmental sources told MEDIAFAX on Thursday.

Romanian Public Sector Wages to Grow By 5% This Year – Sources

16:53, 29 Ian. 2009
Romanian public sector salaries could be increased this year by some 5%, in stages, which is a variant discussed in the meeting held Wednesday between the members of the government coalition, but a decision will be reached Thursday in the government meeting, political sources told MEDIAFAX.

EC Closed Infringement Procedures Against Romania Over 112 Emergency No

16:47, 29 Ian. 2009
The European Commission decided Thursday to close the infringement procedures over the 112 single EU emergency phone call number, after Bucharest confirmed emergency services have access to caller location information, which allows them to trace rapidly the victims of the accidents for all calls.

Romanian Education Min Budget Reaches 6% Of GDP – Sources

16:36, 29 Ian. 2009
The budget of the Romanian ministry of Education has been set by the Government at 6% of the gross domestic product, official sources told MEDIAFAX.

Gross Avg Monthly Wage At Romania’s Devt Ministry Worth RON4,746, Not 8,818 – Ministry

16:16, 29 Ian. 2009
Romania’s Regional Development Ministry said the monthly average wage in the institution last year reached 4,746 lei (EUR1=RON4.2314), including the base and the merit salary, the seniority bonus and the management bonus, and not of RON8,180, as shown by a government document Wednesday.

Higher Tobacco Excise Means Higher Prices, More Contraband – JTI Romania

15:50, 29 Ian. 2009
Cigarette maker Japan Tobacco International (JTI) said the Romanian tobacco excise calendar has already been rushed with the introduction of the vice tax, and an early increase of the excise would spell 50% increases in cigarette prices and would put contraband in control of 30% of the market.

Romanian Prosecutors Launch Criminal Investigation Into Weapons Warehouse Break-In

15:46, 29 Ian. 2009
Romanian military prosecutors started criminal investigations "in rem" regarding stolen weapons from a military warehouse in Ciorogarla, in Ilfov County, near capital Bucharest.

Romanian Bkers Want Ctrl Bk To Cut Rate, Min Req Reserves Ratios

15:44, 29 Ian. 2009
Romanian bankers are waiting for the central bank to cut both the key rate and the minimum required reserve ratios in next week’s Board meeting, in order to unfreeze lending, said the president of the Romanian Banks Association, or ARB.

Police Check Thousands Of Cars After Weapons Warehouse Break-in

15:32, 29 Ian. 2009
Romanian police are checking, since Wednesday evening, cars in Bucharest, surrounding Ilfov county and the Bucharest - Pitesti highway after a weapons storage facility in Ciorogarla, lfov, was broken into.

EC Initiates 2nd Stage Of Infrigement Against Romania, On Energy Efficiency

15:21, 29 Ian. 2009
The European Commission initiated the second stage of the infringement procedure against Romania, alongside other 19 European union member states, as it failed to communicate its transposition of the Energy Services Directive, the Commission said Thursday.

Romanian Telecom Regulator Must Be Placed Under Parliament Control – Regulator Head

15:07, 29 Ian. 2009
The Romanian Government, Parliament and particularly politicians in these institutions must realize the importance of ensuring the independence of the National Communication Authority, or ANC, regulator president Liviu Nistoran said Thursday.

Romanian Ed Ministry’s Unpaid Bills Worth RON1,200B To Be Included In ’08 Budget Def

14:38, 29 Ian. 2009
The leaders of Romania’s governing coalition decided that last year’s unpaid bills worth 1,200 billion lei (EUR1=RON4.2314) belonging to the Education Ministry will not be paid from the 2009 budget, and will be included in last year’s budget deficit, people close to the matter told MEDIAFAX.

Romanian Culture Ministry Considers To Options To Exploit Castle Bran

14:29, 29 Ian. 2009
Romania’s Ministry of Culture considers two variants to exploit Castle Bran, that of a public-private partnership or the castle’s acquisition by the state, culture minister Theodor Paleologu said Thursday.

Pensions In Romanian Public Sys To Increase 5% In Two Tranches – Sources

14:11, 29 Ian. 2009
Pensions in Romania’s state pension system will be increased 5% in 2009, in two tranches: 3% in April and 2% in October, taking the pension point to 42 - 45% of the average gross wage, people close to the talks within the governing coalition told MEDIAFAX Thursday.

EU Telecoms Commissioner Offered Romanian Telecom Min Support To Solve Regulator Issue

14:05, 29 Ian. 2009
EU Telecoms Commissioner Viviane Reding spoke Tuesday evening and Wednesday morning on the phone with Romanian communication minister Gabriel Sandu to discuss the EC’s intention to launch an infringement case against Romania and offered support to solve the matter, EC spokesman Martin Selmayr said.

Romanian Education Min Budget Higher Than 5% Of GDP In ’09

14:03, 29 Ian. 2009
The budget held by the Romanian Ministry of Education in 2009 will be higher than 5% of the GDP, but it is not certain to reach the legally provisioned 6% of the GDP, according to a consensus between the leaders of the government coalition, political sources told MEDIAFAX.

Romania’s Highway Co Mulls RON471M Road Repair Works

13:40, 29 Ian. 2009
Romania’s National Highways and Roads Company, or CNADNR, plans to carry out repair works totaling 471.14 million lei (EUR1=RON4.2340), VAT not included, on 210 kilometers of two national roads, CNADNR said Thursday in a press statement.

EC Launches Infringement Case Against Romania Over Independence Of Regulator

13:26, 29 Ian. 2009
The European Commission decided Thursday to launch infringement procedures against Romania, which breached EU rules regarding the independence of its national telecom regulator, the Commission said in a press release.

Romanians’ Protection Deficit Doubled From 2006, Reaching RON388B

13:14, 29 Ian. 2009
Romanians’ protection deficit, calculated as the difference between available financial resources and needs, amounts to 388.5 billion lei (EUR1=RON4.2340), double compared with EUR43 billion in 2006, according to data of life insurer ING Asigurari de Viata.

Romanian Magistrates- Highest Paid Public Sector Employees In ’08- Report

12:49, 29 Ian. 2009
A report drafted by the Romanian government indicates that the average monthly costs per person on public sector wages, during January-November 2008, range from 1693 lei (EUR1=RON4.2340) for the Economic and Social Council up to RON9926 for the Supreme Court, which ranks first in the hierarchy.

Romanian CFR Calatori To Buy 20 Railroad Carriages For Car Transport

12:48, 29 Ian. 2009
Romania’s state-owned passenger railway company CFR Calatori will buy, in the next three years, 20 railroad carriages from railway carriage maker Atelierele CFR Grivita, worth 14.5 million lei (EUR1=RON4.2340), VAT not included, for the transport of vehicles.

Real Estate Deals In Romania Dn 25% In Sept-Dec, Dn Over 7% On Yr In 2008

12:08, 29 Ian. 2009
The number of real estate deals in Romania decreased about 25% on the year in the last four months of 2008 and the number of deals for the entire year 2008 decreased more than 7% compared to 2007, the Romanian Union of Notaries Public, or UNNPR, said in a press release Thursday.

Romanian BSGP Holds 99.1% Stake In Fabian Romania, Offer Closed

11:22, 29 Ian. 2009
Black Sea Global Properties Limited, or BSGP, owned by Romanian oil tycoon Dinu Patriciu through Rompetrol Holding, held a 99.1% stake in Romanian property fund Fabian Romania upon expiry of the extended takeover offer, on January 28.

Romania Gets Code Yellow Warning For Snow, Strong Wind

11:14, 29 Ian. 2009
Romania’s national meteorological authority on Thursday sent out yellow code warnings for 17 counties in eastern and southeastern Romania where snow and strong wind are expected Thursday through Saturday.

Romania Needs EUR20B To Finance Deficit In May – Social Democrat Leader

10:28, 29 Ian. 2009
Romanian social democrat leader Mircea Geoana said Wednesday evening on B1TV that Romania would need around EUR20 billion in May, to finance the deficit, adding that a loan of some EUR7 billion from the International Monetary Fund would not be excluded.

Romanian Social Democrat Leader Hasn’t Decided On Running For President

10:04, 29 Ian. 2009
Romanian social democrat leader Mircea Geoana said late Wednesday on B1TV that he hasn’t yet decided whether or not he should run for president, adding he will make a decision “at the right time".