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Romanian Shrs Surge Amid Double Traded Values

17:36, 14 Oct. 2008
Romanian shares soared Tuesday, continuing the previous day’s trend, amid higher traded values, with the country’s five regional investment funds SIFs greatly extending Monday’s gains.

Romanian Dictator Ceausescu Kept His Wealth In The Country

16:59, 14 Oct. 2008
Romanian MPs approved, in the joint Parliament meeting, the report of the Parliament investigation committee regarding the accounts held by former dictator Nicolae Ceausescu, with the final conclusion that the former head of state did not hold any accounts or wealth abroad.

Romanian President Suspends Defense Council Meeting On Overdue Govt Documents

16:53, 14 Oct. 2008
Romanian President Traian Basescu on Tuesday said he had the Supreme Defense Council’s meeting suspended as the Government failed to deliver necessary documents regarding the budgets of defense institutions in due time.

Romanian Parliament Validates Senate Chairman For Court Of Accounts Presidency

14:24, 14 Oct. 2008
The Romanian Parliament elected Tuesday Senate chairman Nicolae Vacaroiu president of the Court of Accounts for a nine-year mandate.

Romanian Govt Eyes Regulating Wages Of All Govt-Run Agencies

14:12, 14 Oct. 2008
The Romanian Labor Ministry and Finance Ministry drafted a note targeting only government-run agencies and Prime Minister Calin Tariceanu asked ministers to draft a normative act regulating the wages of management in ministry-run agencies as well.

Romanian PM Halts Cabinet Meeting, Demands Additional Data On Wages In Govt-Run Agencies

13:38, 14 Oct. 2008
Romanian Prime Minister Calin Tariceanu interrupted the Cabinet meeting Tuesday to request additional data on wages paid in state agencies and government-run regulators, people close to the matter told MEDIAFAX.

Romanian Bks See Escalation Of Phishing Attacks, To 30 Cases In ‘08

13:30, 14 Oct. 2008
The number of the phishing attacks on Romanian banks tripled in the first eight months of the year, to nearly 30 cases, half of which targeted a single lender, according to antivirus applications producer BitDefender.

Romanian Agriculture Four Times Less Insured Than EU Avg – Ministry Official

13:16, 14 Oct. 2008
Romanian agriculture is four times less insured than the European average, but the agriculture insurance market is on a rising trend given the need for risk management in this sector, especially when it comes to climate change risks.

“Capital” Magazine Launches Top Of The Richest 300 Romanians

13:13, 14 Oct. 2008
Football mogul Gigi Becali ranks first in the top of the richest Romanians made by business weekly “Capital”, with an estimated fortune of EUR2.5 billion, followed by businessman Ion Tiriac, with EUR2.2 – 2.4 billion, and oil tycoon Dinu Patriciu, whose fortune is estimated at EUR2- 2.1 billion.

Romanian Senate Chairman Validated As Court Of Accounts President

11:21, 14 Oct. 2008
The budget-finance committees within the Romanian Senate and Chamber of Deputies validated unanimously Senate chairman Nicolae Vacaroiu as councilor and president within the Court of Accounts.

Head Of Romania’s Energy Watchdog Resigned

10:32, 14 Oct. 2008
Head of Romania’s energy watchdog ANRE Gergely Olosz quit his position Monday evening, saying he did not want to destabilize the institution’s credibility following information on his salary, as well as due to his new position as lawmaker.

Romanian Govt Ups Budget Allowances For Performance, Mandate Contracts

09:28, 14 Oct. 2008
Budget allocations for mandate or performance contracts concluded by companies under the Ministry of Transport were increased by the Government through the budget revision. Some of the largest sums went to the units Romatsa and the Auto Registry.

Wages Of Romanian Govt-Run Agency Heads Subject To Grids

19:19, 13 Oct. 2008
The wages of the Romanian government-run agencies or watchdogs’ heads will not surpass a secretary of state salary, while the salaries of institutions' employees will be settled according to wage grids instead of negotiations within the organization.

Romanian Lottery Wins Appeal In Sports Betting Trial

19:17, 13 Oct. 2008
The Bucharest Court of Appeals on Monday ruled in favor of the Romanian Lottery and overturned a court decision by which the country’s football authority FRF was entitled to 20% of the Lottery gains from sport bets, which amount to EUR5 million.

Ctrl Bker: 99.2% Of Romanian Bank Deposits Below EUR20,000 Guarantee Threshold

17:35, 13 Oct. 2008
Central bank governor Mugur Isarescu said Monday that 99.2% of Romanian bank deposits are below EUR20,000, adding that an increase in minimum deposit guarantee was not necessary, but the authorities are obliged to comply with the European Union norms.

Drug Distributors To Sue Romanian Health Minister

17:09, 13 Oct. 2008
Drug distributors started procedures to sue Romanian health minister Eugen Nicolaescu, who they claim refuses to meet his legal obligations and update drug prices depending on currency exchange rates.

Romanian Bks To Keep Fees Unchanged Until Contract Termination – Draft Act

16:34, 13 Oct. 2008
The Romanian consumer protection authority ANPC on Monday said it drew up a draft emergency Ordinance aimed to protect bank clients by compelling lenders to keep fees unchanged for the entire period of the contracts.

Romanian Miner Riot Case Closed

15:47, 13 Oct. 2008
The case regarding the 1990 Romanian miner riots was closed, while the prosecution office within the High Court of Justice decided not to initiate criminal investigations against social democrat honorary president Ion Iliescu.

Paul Krugman Wins Nobel Prize For Economics

15:12, 13 Oct. 2008
American economist and New York Times columnist Paul Krugman won the Nobel prize for economics Monday for his analysis of how economies of scale can affect trade patterns and the location of economic activity, the Royal Swedish Academy of Sciences said.

Romania Will Recognize Kosovo Passports Only As Identification Proof

15:05, 13 Oct. 2008
Romania does not recognize any document or paper issued by the authorities of Kosovo, but accepts some of their legal effects, including the right to free circulation, the Romanian Foreign Affairs told MEDIAFAX Monday.

Prison Brawl Between Romanians And Muslims In Spain

13:45, 13 Oct. 2008
Several Romanian inmates in a Spanish penitentiary got into a brawl with a group of Muslim inmates, Tribuna de Salamanca informed in its online edition.

Romania’s 8-Mo Curr Acct Def +1.6% On Yr To EUR10B

12:32, 13 Oct. 2008
Romania’s current account deficit widened 1.6% on the year in January-August to EUR10.006 billion, mainly due to a higher trade deficit, the central bank said in a statement Monday.

Ford Fusion Replacement To Be Built In Romania – Sources

11:46, 13 Oct. 2008
Ford Europe will build the vehicle which is to replace the current Fusion model in its Craiova-based plant in southern Romania, Automotive News Europe (ANE) reported Monday, citing sources close to the matter.

Romanian PM Demands Populism, Communism Be Left Out Of State Companies’ Wage Policy

10:52, 13 Oct. 2008
Romanian Prime Minister Tariceanu demanded that “populism and communism” be left out when it comes to the salaries earned by managers of state-owned companies, which should be established according to their achievements, according to criteria applied in the private sector.

Romanian Shrs Soar In Early Trade, SIFs Strenghten

10:48, 13 Oct. 2008
Romanian shares opened higher Monday, with the five regional investment funds, or SIFs, gaining ground, brokers said.

Romanian Liberals Most Likely To Form Next Govt Together With Social Democrats – VP

16:46, 12 Oct. 2008
Romania’s liberal party will most likely form an alliance with the current leftist opposition Social Democratic Party, or PSD, after the upcoming elections, liberal deputy president, Crin Antonescu, said Sunday.

Romania’s Ctrl Bk Hikes Minimum Deposit Guarantee To EUR50,000

14:46, 12 Oct. 2008
The minimum deposit guarantee in Romanian banks will be increased to EUR50,000 from EUR20,000 over the next few days, the central bank said in a statement.

Romania Medicine Deliveries On Stand-By Until Oct. 15

15:52, 11 Oct. 2008
Romanian medicine suppliers on Saturday said drug deliveries are suspended until at least October 15, pending new price negotiations with the Health Ministry.

Romanian PM Demands Salary Report For Govt-Run Agencies

15:21, 11 Oct. 2008
Romanian Premier Calin Popescu Tariceanu on Saturday demanded the head of Chancellery, Dorin Matei, presented a report on the salaries and bonuses earned by managers of the country’s regulatory authorities, the executive said in a statement.

Wage Hikes Should Correspond To Inflation, Economic Growth – Prv Auth Head

19:24, 10 Oct. 2008
The increase of state employees’ wages to be granted this period should correspond to the inflation rate and the economic growth, so as not to hurt Romania’s economy, head of the privatization authority Teodor Atanasiu told a press conference Friday.

Romanian Far-Rightists, Democrat-Liberals Eye EUR5B From Forex Reserve For Agriculture

16:28, 10 Oct. 2008
Romania’s far-right Grater Romania Party and the Democratic Liberal Party submitted a draft law to the Senate stipulating the assignment of EUR5 billion from Romania’s foreign exchange reserves for the development of agriculture.

Romanian President Challenges Constitutionality Of Court Of Accounts Law

16:06, 10 Oct. 2008
Romanian president Traian Basescu Friday challenged the constitutionality of the law on the Court of Accounts, the Constitutional Court’s press office told MEDIAFAX.

Romanian Constitutional Court To Discuss Teachers’ Wage Law Oct 15

15:33, 10 Oct. 2008
Romania’s Constitutional Court will debate on October 15 the government’s notification on the law raising teachers’ wages by 50%.

Romanian Medicine Distributors Cease Deliveries, Pharmacies Near Stock-Outs

15:12, 10 Oct. 2008
The National Council of the Romanian Pharmacists’ College announced that medicine distributors halted deliveries as the prices of medicine are struck by the Romanian currency’s depreciation, and medicine stocks are about to be depleted.

Five Children In W Romania Hospitalized After Blast, Blaze

15:11, 10 Oct. 2008
Five children in western Romanian locality Belint, Timis county, wound up in the hospital Thursday night, with sever burns, as the house they lived in blew up then caught fire because one of the children threw a bottle of fuel into the stove.

Romania Ctrl Bk Sells EUR40M To Support Leu On Forex Mkt

15:06, 10 Oct. 2008
The National Bank of Romania admitted it has sold EUR40 million on the foreign exchange market Friday to test the market’s functionality, according to its spokesperson, after dealers said the central bank stepped in to support the national currency leu.

Most Romanians Unaffected By Stock Mkt Crisis – President

14:20, 10 Oct. 2008
Romanian President Traian Basescu said Friday that turmoil on international capital markets will not have an impact on Romania if institutions are cautious, because Romanians haven’t invested much in the stock exchange.

Govt Cannot Undertake To Fulfill Future Commitments- Romanian President

14:18, 10 Oct. 2008
Romanian President Traian Basescu said Friday the government, which is only 20% supported in Parliament, cannot undertake to fulfill the commitments of the future government to be formed after the general polls on November 30.

Romania Ctrl Bk Intervenes On Forex Mkt To Support Leu

13:56, 10 Oct. 2008
The National Bank of Romania intervened on the forex market on Friday in order to support the national currency, following the high volatility of the leu in the first part of the trading session, dealers said.

Romanian President Rages Against High Salaries Of Govt Agencies Heads

13:10, 10 Oct. 2008
Romanian President Traian Basescu said Friday, referring to the huge salaries of several heads of government agencies, that these agencies gradually became the “money land” of the government‘s political clientele.