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IMF Cuts Romania’s ’09 Econ Growth Forecast To 3.5%, From 4.8%

13:21, 26 Nov. 2008
The International Monetary Fund forecasts Romania’s economy will grow by 3.5% in 2009, below the 4.8% growth rate seen in October, as the global turmoil affected local banks’ ability to get funds from abroad, which limits investments and consumption, and also due to a severe slowdown in exports.

Hungarians In Romania To Gain Cultural, Territorial Autonomy Over Next 4 Yrs – Official

11:45, 26 Nov. 2008
Hungarian senator Gyorgy Frunda said in a speech late Tuesday, during the electoral campaign in view of the general elections on November 30, that the Hungarian minority party (UDMR) would gain cultural and territorial autonomy over the next four years.

Romania’s AVAS To Sell 70% Stake In Petromin

10:25, 26 Nov. 2008
Romania's Privatization Authority AVAS will put up for sale the majority stake in Romanian maritime transport company CNM Petromin Constanta, at a starting price of 39.35 million lei (EUR1=RON3.7933).

Romanian PM Accused Of Lying, Using Education Money As Electoral Bribe

20:41, 25 Nov. 2008
Romania’s Education Federation, or FEN, on Tuesday accused Premier Calin Popescu Tariceanu of lying about insufficient funds to grant salary hikes in education, as the government used at its budget revision a financial surplus from education as “electoral bribe” to fund other sectors.

Romanian Ctrl Bk May Cut Interest Rates When Bks Solve Confidence Issues-PM

19:55, 25 Nov. 2008
The National Bank of Romania, or BNR, might cut the key monetary policy rate the confidence issues between banks are solved, Romanian Prime Minister, Calin Popescu Tariceanu said Tuesday, adding that this decision belongs exclusively to the central bank.

EC Says Needs More Data On SAPARD Program In Romania

19:53, 25 Nov. 2008
The European Commission requested additional data on Romania’s course of actions regarding the EU-funded SAPARD program before making a decision on whether to resume payments to Romanian farmers, EC spokesman for agriculture, Michael Mann said Tuesday.

Nokia Romania Plant Halts Ops Dec 22-Jan 5

19:24, 25 Nov. 2008
Nokia Romania decided to temporary stop production at its Romanian plant between December 22, 2008 and January 5, 2009, for employers to rest "and get ready for the challenges in 2009", the company stated Tuesday in a press statement.

Developer Liebrecht & wooD Defers Romanian Outlet Center Opening By 1 Wk

19:23, 25 Nov. 2008
Belgian real estate developer Liebrecht & wooD postponed by one week the opening of the first outlet center in Romania, Fashion House Outlet Centre, which was initially scheduled to open on November 26, the company stated Tuesday.

Romanian President Says Steel Mill Mechel Won’t Lay Off Employees

18:47, 25 Nov. 2008
Steel mill Mechel Targoviste, southern Romania, will not lay off employees, although the situation at the plant is not really “a fortunate one”, President Traian Basescu said Tuesday.

Romanian Liberals 100 Members Short Over Alleged ‘Groups Of Interests’

17:34, 25 Nov. 2008
The liberals’ county branch in Brasov, central Romania, is missing 100 members as of Tuesday following their en-bloc resignation due to certain “groups of interests that run the local branch.”

Cases Of Domestic Violence Against Women Up 25% This Yr In Romania

15:21, 25 Nov. 2008
Romania sees 25% more cases of women who were victims of domestic violence in the first nine months of the year, compared to the number reported in 2007, Mihaela Mostavi, head of the National Agency for Family Protection, said Tuesday, at the start of a campaign against domestic violence.

Lukoil Romania Cut Gas, Diesel Oil Pump Prices By RON0.09, RON0.06 Per Liter

15:09, 25 Nov. 2008
Lukoil Romania, a unit of Russian oil company Lukoil Holdings, cut Tuesday its gasoline and diesel oil pump prices by 0.09 lei (EUR1=RON3.7933) and RON0.06 per liter, respectively, and kept the liquefied petroleum gas price unchanged, the company said in a statement.

Romanian PM Assures Budget Can Sustain Pension Payments This Year And The Next

14:57, 25 Nov. 2008
Romania’s state pension fund has enough money to ensure pension payments this year and the next, Prime Minister Calin Tariceanu said during the Cabinet meeting Tuesday, after President Traian Basescu said Monday evening on television that the fund is “drained”.

Romanian Govt Approves 4th Budget Revision This Yr – Sources

14:35, 25 Nov. 2008
Romania's Government approved Tuesday this year's fourth state budget revision, government sources told MEDIAFAX.

Romanian President Awards Outgoing U.S. Ambassador With High Romanain Order

14:23, 25 Nov. 2008
Romanian President Traian Basescu on Tuesday decorated outgoing United States Ambassador Nicholas Taubman with the Order of the Star of Romania in a ceremony held at the Cotroceni Palace and thanked him for his “close and honest” observation of Romanian realities.

Romanian Car Mkr Dacia To Decide On Temporary Personnel Cut Early-Dec

14:17, 25 Nov. 2008
Romanian carmaker Dacia will decide early-December whether or not to renew the temporary labor contracts of 600 employees, due to expire on December 31, Dacia's spokesman Silviu Sepciu told MEDIAFAX on Tuesday.

Romania ’08 Wine Sales Seen Up 11% YY, To EUR500M – Assoc

14:11, 25 Nov. 2008
Romanian wine sales are seen up 11% to around EUR500 million in 2008, from EUR450 million a year ago, the general manager of the Vineyard and Wine Employers’ Association PNVV, Ovidiu Gheorghe, said Tuesday at Romania Retail Forum 2008 organized by MEDIAFAX.

Romanian Prosecutor Arrested In Graft File In SW Romania

13:41, 25 Nov. 2008
Romanian prosecutor Viorel Vasile, head of the criminal investigations department with the Caras Severin Court, southwestern Romania, was placed under arrest Tuesday by the Timisoara Court of Appeals magistrates on charges of bribery.

Romanian Protan Urges Court To Suspend Decision Halting Its Ops

13:32, 25 Nov. 2008
The Bucharest court tried Tuesday the appeal filed by Romanian non-hazardous waste collector SC Protan SA against the decision of the Bucharest Regional Agency for Environmental Protection to suspend the company’s license for 30 days.

Romanian Consumers To Buy Cheaper Products, Due To Fincl Crisis – GEA

13:31, 25 Nov. 2008
Romanian consumers will focus on cheaper products and a cut in consumption is also possible, following the recent financial turmoil, Liviu Voinea, the executive manager of the Group of Applied Economics, or GEA, said Tuesday.

Bucharest Cabbies Scrap Fare Hike Plans On Lower Business

12:38, 25 Nov. 2008
Cab drivers in Romania’s capital city Bucharest are having second thoughts about the fare increases they had planned for the end of the year after their business saw 10 to 15% fewer orders in the past two months.

Romania Pres Says Recent Visits To Large Cos Not Related To Any Electoral Campaign

21:17, 24 Nov. 2008
Romanian President Traian Basescu told a press conference Monday that his recent visits to large companies were not part of any electoral campaign whatsoever, stressing he just could not sit back and relax in his office, waiting to hear what journalists and politicians say in the fallout of the economic crisis.

Romanian Pres: Moody’s Evaluation Is Accurate

20:05, 24 Nov. 2008
Romania’s president Traian Basescu said Monday that he sees the Moody's Investors Service forecast that Romania might enter in recession in 2009 as “the most accurate prediction of a rating agency”, underlinining that Moody’s “only warned, and not revised downwards the rating of our country”.

Romanian Tourists Still Missing, Rescuers To Resume Searches Tuesday

19:42, 24 Nov. 2008
Rescue mountaineers were unable to locate two tourists who went missing Saturday on Bucegi mountain, central Romania, and said will suspend searches until tomorrow morning.

Romanian Govt Cuts RON2B From ’08 Budget Exp, Redirects Funds To Pensions, Aids

18:40, 24 Nov. 2008
The Romanian Government will cut more than 2 billion lei (EUR1=RON 3.7985) from 2008's budget expenses of 18 ministries and public institutions, and the funds will be mainly redirected to the Labor Ministry for pensions and state aids, sources told MEDIAFAX Monday.

Romania’s Fin Min, EIB Ink EUR1B Loan Deal

18:38, 24 Nov. 2008
Romania’s Finance Ministry signed Monday a loan agreement with the European Investment Bank, or EIB, worth EUR1 billion, for financing transports, environment and economic competitiveness projects.

Romania Transp Min To Handle Construction Of Bucharest-Danube Canal

14:57, 24 Nov. 2008
Romania’s Transportation Ministry on Monday said it took over from the country’s Water Board the construction of a canal to link capital Bucharest to Danube River.

Romania’s Petrom Cuts Gasoline, Diesel, LPG Prices

14:08, 24 Nov. 2008
Romania’s largest oil company Petrom SA (SNP.RO) cut Monday gasoline reference prices by 0.09 lei (EUR1=RON3.7985) per liter, diesel oil prices by RON0.06, while the price of liquefied petroleum gas (LPG) was cut by RON0.46, at RON1.99, the company said in a statement.

Arpechim: Romania’s Oltchim Might Take Over Part Of Refinery’s Employees

14:00, 24 Nov. 2008
The management of Romanian refinery Arpechim, owned by the country's largest oil company Petrom (SNP.RO), told Monday the employees who protested in front of Petrom’s headquarters that it began talks with chemical producer Oltchim (OLT.RO) for the sale of Arpechim’s petrochemical activity.

Pwr Plant Turceni GM, Investigated For Abuse Of Office, Resigns

11:15, 24 Nov. 2008
The general manager of Romanian state-run thermal power producer Turceni, Dumitru Cristea, investigated for abuse of office, resigned Monday.

Romanian Railway Unionists Postpone Protests

11:12, 24 Nov. 2008
Romanian railway unionists affiliated to the Miscare-Comercial Federation on Monday postponed protests, following the commitment taken by the transport minister to approve orders regulating the periodical check-up of railway staff, and the government decree granting funds to infrastructure.

Mountain Rescuers Suspend Searches For Missing Tourists C. Romania

17:36, 23 Nov. 2008
Rescuers said Sunday will suspend until tomorrow searches for two tourists stranded on Bucegi mountain, central Romania.

Romania Econ Growth Seen Below 4% In ‘09 From 8% In ’08 – Analysts

15:09, 23 Nov. 2008
Romanian economic growth is seen below 4% in 2009, down more than half compared to the 8% growth estimated for 2008, analysts said.

9 Romanians Estranged In Libya After Italian Employer Steals Their Passports

14:40, 22 Nov. 2008
Nine Romanian workers have been abandoned on Libyan territory, after an Italian employer stole their passports, Romania’s Foreign Ministry said Saturday.

Romanian Police, Public Servants Press For Higher Wages, Increased Staff

13:56, 22 Nov. 2008
More than 200 unionists in law enforcement and public servants sectors staged an hour and a half protest in Bucharest’s Constitution Square on Saturday, pressing for higher salaries and increased personnel.

Romania’s ELCEN Might Cut Bucharest Heat Supply In ’08-’09 Winter On Gas Debts

19:27, 21 Nov. 2008
Romanian power producer Electrocentrale Bucuresti ELCEN said Friday that it might deliver lower thermal energy to capital city Bucharest's population, after gas supplier WIEE warned the company that its high debts would lead to a cease in the gas supply.

Romanian President Upbeat On Ability To Overcome Economic Difficulties

19:24, 21 Nov. 2008
Romanian President Traian Basescu on Friday said the country can overcome the economic downturn, mentioning the media depicts a false “apocalypse” about job losses.

Romanian PM: Main Concern Is Securing Jobs, Not The Budget Def

19:23, 21 Nov. 2008
Romania’s Prime Minister Calin Popescu Tariceanu said Friday that his main concern is to secure people’s jobs and only afterwards to keep the country’s budget deficit within assigned limits.

Romanian Rompetrol Petrochemicals Cuts Prod, Personnel

19:01, 21 Nov. 2008
Rompetrol Petrochemicals, the petrochemistry arm of Romania’s second-largest oil company Rompetrol Group NV, will cut its polymer production by 55% and temporarily lay off 24% of its production and maintenance personnel for a two months period, due to the international financial crisis.

Nokia’s Romanian Plant To Cut Costs, Keep Up Production As Planned – Manager

18:58, 21 Nov. 2008
The Romanian plant of Finnish mobile giant Nokia will resort to cost cuts like any other company trying to overcome the economic crisis, but the production will go on as planned in the next quarter, the company’s manager John Guerry said at the end of his meeting with president Traian Basescu.