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Romanian Ctrl Bk Revises Up ‘08 CPI To 6.7%, ’09 CPI To 4.5%

16:24, 03 Nov. 2008

The National Bank of Romania, or BNR, revised upwards its forecasts for the 2008 and 2009 consumer price index to 6.7%, and 4.5%, respectively, from the previous 6.6% and 4.2% estimates, central bank governor Mugur Isarescu said Monday.

Romania’s Future Govt Not Seen Limiting Expenses – Ctrl Bk Governor

15:53, 03 Nov. 2008

The National Bank of Romania, or BNR, estimates that the country's future government will have problems limiting public spending, while excess of demand will continue especially in terms of people's incomes, central bank governor Mugur Isarescu said Monday.

Romanian Lawmakers To Present Report On ’09 State Budget By Dec 20

15:39, 03 Nov. 2008

The Romanian Chamber of Deputies has received the 2009 state budget draft and lawmakers have until December 20 to issue a report on the draft, Chamber speaker Bogdan Olteanu said in a press release Monday.

Romanian Cos Unfolding Contracts With ArcelorMittal Galati Laid Off Over 300 People

15:26, 03 Nov. 2008

Companies based in Galati, eastern Romania, unfolding various contracts with steel company ArcelorMittal Galati, a unit of UK-based giant ArcelorMittal Group, laid off over 300 employees in recent days, according to data offered by the local employment agency.

Romania Stays Out Of Middle East Processes Pending Beckoning – Romanian Pres

13:55, 03 Nov. 2008

Romanian president Traian Basescu said Monday Romania does not wish to interfere with the ongoing processes in the Middle East, but the country is ready to get involved, if asked to do so.

Romanian Universities Welcome Young Palestinians – Romanian President

13:54, 03 Nov. 2008

Romanian President Traian Basescu said Monday at the end of the meeting with Palestinian National Authority President Mahmoud Abbas that Romania is willing to resume, starting with 2009, the university education programs for young Palestinians.

Romania’s Forex Reserves Up EUR1.3B In Oct To EUR27.32B

13:53, 03 Nov. 2008

Romania’s foreign exchange reserves rose by EUR1.297 billion in October to a total of EUR27.318 billion, the central bank said in a statement Monday.

Romania Might Not See Fall In Unemployment Rate Due To Intl Fin Crisis – PM

13:38, 03 Nov. 2008

Romania's unemployment rate might not decrease in the following period, and the annual unemployment rate in 2009 will depend on the international economic crisis, which may determine Romanian laid off abroad to return home, Prime Minister Calin Tariceanu said Monday.

EC: Romanian Current Acc Def Seen Slowing In ’08, ’09

13:35, 03 Nov. 2008

The European Commission sees Romania’s current account deficit slowing in both 2008 and 2009 to 13.5% and 13% of gross domestic product, respectively, lower compared to the Commission’s previous forecasts.

Bucharest Ambulance Services Sees Disciplinary Measures

12:59, 03 Nov. 2008

The management of the Bucharest Ambulance Service terminated the work contract of an ambulance driver in district 4 and reduced the salary for one month of a squad from the same unit by 5%, following misconduct in the medical act.

EC: Romania’s GDP Growth Seen Slowing To 4.7% In ’09 From 8.5% In ’08

12:47, 03 Nov. 2008

Romania’s gross domestic product is seen slowing to 4.7% in 2009, against an estimated 8.5% growth this year, and will pick up slightly in 2010 to a 5% growth, the European Commission said in its fall economic forecast Monday.

UniCredit Tiriac Bk Names Dorin Badea As New Treasury Head

12:19, 03 Nov. 2008

UniCredit Tiriac Bank treasury manager Bogdan Mihoc resigned Monday and was replaced by deputy treasury manager Dorin Badea, the bank announced.

Romanian PM Calls On Unions To Act Responsibly

12:01, 03 Nov. 2008

Romanian Prime Minister Calin Tariceanu called on education unions and teachers Monday to act responsibly, saying going on a strike is not the right thing to do and wages cannot be increased by 50%.

UniCredit Tiriac Bk Treasury Head May Resign – Sources

12:00, 03 Nov. 2008

UniCredit Tiriac Bank treasury manager Bogdan Mihoc might resign following the scandal on the operations of certain banks in the last two-three weeks, banking sources told MEDIAFAX.

Romanian Education Federation Spiru Haret On Warning Strike Monday

10:37, 03 Nov. 2008

Thousands of teachers affiliated to the Romanian unionist federation “Spiru Haret” went on warning strike Monday morning after having asked the Parliament in a letter to meet urgently and reject the ordinance postponing a 50% wage hike for the staff in the education system.

Romanian Education Federation Spiru Haret Goes On Warning Strike On Monday

18:17, 02 Nov. 2008

Thousands of teachers affiliated to the Romanian unionist federation “Spiru Haret” will go on a warning strike on Monday after having asked the Parliament in a letter to meet urgently and reject the ordinance postponing the 50% wage hike for the staff in the education system.

Romania’s 10-Mo Budget Deficit Climbed To 1.5% Of GDP – Fin Min

16:15, 02 Nov. 2008

Romania’s general consolidated budget deficit after the first ten months rose to 1.5% of the gross domestic product (GDP), and is estimated to stay under 2% at the end of November, economy and finance minister Varujan Vosganian said Sunday.

EC Pursues Second Stage Of Infringement Against Romania Over Energy Sector

15:56, 02 Nov. 2008

The European Commission decided to pursue the second stage of the infringement procedure against Romania over the energy sector, as the Parliament in Bucharest did not adopt an emergency ordinance whose stipulations included several European directives.

Romanian Fin Min Proposes State Aid Hike, To RON1B For ‘09

15:12, 02 Nov. 2008

Romanian economy and finance minister Varujan Vosganian proposed that the sum assigned to state aid for next year be increased to 1 billion lei (EUR1=RON3.6610), from the current RON200 million, Vosganian said Sunday.

Romanian Pol Parties, Govt Will Not Enforce Current Law On Teachers’ Wage Hike – Fin Min

14:43, 02 Nov. 2008

Romanian political parties do not want to take responsibility for the enforcement of the law hiking teachers’ wages by 50%, and no government will enforce it in its current form, economy and finance minister Varujan Vosganian said Sunday.

Romanian Bks Should Simplify Lending Procedure For EU Co-funded Projects

16:47, 01 Nov. 2008

Banks in Romania should simplify the lending procedure for the projects co-funded by the European Union, on the backdrop of the economic crisis, as their beneficiaries will encounter problems due to the increase of costs, state secretary with the Economy Ministry Eugen Teodorovici said Saturday.

Romanian Detainee In Italy Admitted To Milan Polytechnic University

14:27, 01 Nov. 2008

A Romanian hacker, who was sentenced in Italy to three years' imprisonment for internet fraud, was the first candidate admitted to the Polytechnic’s Engineering Faculty in Milan.

Joint World Bank/International Monetary Fund Mission To Assess Romania’s Fin System

13:23, 01 Nov. 2008

A joint mission of the World Bank and of the International Monetary Fund, or IMF, will be on a visit to Romania between November 3 and November 14 to assess the country’s financial system, a statement of the International Monetary Fund read.

Romania To Sign Declaration On Access To Visa Waiver Program In Washington

16:42, 31 Oct. 2008

The Romanian ambassador to the United States of America will sign Monday a statement which will facilitate Romania’s access to the Visa Waiver Program and which will ultimately lead to the elimination of visas for Romanian citizens travelling to USA, the Foreign Affairs Ministry said Friday.

Romanian Pres Notifies Constitutional Court On Referendum – Elections Law

15:58, 31 Oct. 2008

Romanian President Traian Basescu notified the Constitutional Court Friday regarding the law stating that a referendum cannot be organized in parallel with presidential, Parliament or European Parliament elections.

Romania’s Future Govt Will Repeal Act Putting Off Teachers’ Wage Hikes – President

15:12, 31 Oct. 2008

Romanian President Traian Basescu said Friday on public radio station RRA that the future government will repeal the ordinance postponing teachers’ age hikes, adding he finds it hard to believe the act would be repealed before general elections.

Romanian Senate Committees To Debate Teacher Pay Hike Delay Next Week

14:28, 31 Oct. 2008

Romanian Senate secretary Ivan Cismaru told MEDIAFAX Friday that, after publishing in the Official Gazette, the Government Ordinance postponing the increase of salaries in education will be analyzed by the Senate special committees, and the plenary vote will probably be cast on November 10.

Romania’s Petrom To Cut Gasoline Pump Prices By RON0.06/Liter

13:58, 31 Oct. 2008

Romania’s largest vertically integrated oil company Petrom (SNP.RO), owned by Austria’s OMV (OMV.VI), will cut Saturday its gasoline pump prices by 0.06 lei (EUR1=RON3.6610) per liter, keeping the same prices for the diesel oil, the company said in a statement.

Swiss Carrier Baboo Launches Flights To Romania

13:55, 31 Oct. 2008

Swiss regional air carrier Baboo on Monday launched its first flights on the Romanian market, from Bucharest’s International Airport Otopeni to Geneva and Nice, respectively, Baboo said in a statement.

Romanian Govt Ordinance Postponing Teachers’ Wage Hikes Published In Official Gazette

13:41, 31 Oct. 2008

The government emergency ordinance postponing until April next year the enforcement of the law raining teachers’ wages by 50% was published in the Romanian Official Gazette Friday.

CEZ Romania: Direct Gas Imports From Gazprom To Strongly Reduce Gas Prices

13:21, 31 Oct. 2008

Direct natural gas imports might reduce gas prices by a few tens of percents and Romania should negotiate the purchases directly with Russian natural gas monopoly OAO Gazprom, Adrian Borotea, corporate affair manager in CEZ Romania, the local unit of Czech power group CEZ AS, said Friday.

Romania’s Alma Mater Ed Union Announces Protests For Nov 10, 18

11:36, 31 Oct. 2008

Romanian education trade unionists with the Alma Mater Federation on Friday said they will go on a warning strike November 10, followed by a full-scale strike on indefinite term starting with November 18 to protest against government’s decision to block wage hikes in education.

Romania Stays Loyal To Nabucco Gas Pipeline Proj – President

20:32, 30 Oct. 2008

Romania has no intention to scrap the Nabucco gas pipeline project in favor or rival South Stream, President Traian Basescu said Friday.

Romania Ranks 3rd In EU Econ Sentiment Top In Oct

19:58, 30 Oct. 2008

Romania ranked third in a European Union top on the economic sentiment indicator, or ESI, on the month in October, down 1.3 points to 103.7 points, EU said in a report Thursday.

Romanian Airplane Mker Avioane Craiova Switches To 9-Mos Loss Of RON12M

19:47, 30 Oct. 2008

Romania’s airplane maker Avioane Craiova (AVIO.RO) reported losses of 12.17 million lei (EUR1=RON3.6262) in the first nine months of 2008, compared with a net income of RON3.85 million during the same period a year before, the company said Thursday.

Romanian Pres: S&P Downgrade Decision Not Plausible As Public Debt Is Low

19:43, 30 Oct. 2008

Romanian president Traian Basescu said Thursday that the downgrade in Romania’s rating made by Standard & Poor’s on Monday is not plausible as Romania’s public debt is “extremely low”.

Romania President Calls On Unionists To Delay Protests Until After Elections

18:40, 30 Oct. 2008

Romanian President Traian Basescu on Friday asked trade unions to drop their planned protests for November, as these might jeopardize the electoral process, mentioning he will be open to discussions on wage increases based on reform implementation after the elections.