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Romania’s Alro Aluminum Smelter Cuts 1,200 Jobs

17:53, 19 Dec. 2008
Romania’s Alro, the largest aluminum producer in Central and Eastern Europe, owned by Dutch-based Vimetco, announced Friday it is evaluating a 50% cut in production and sacking 1,200 of its operational staff in Slatina, in 2009.

Spanish Police Arrest Romanian Burglary Suspects

16:47, 19 Dec. 2008
Spanish police cracked down on a crime group specializing in burglary, formed mostly of Romanians. Police arrested nine people in the cities Malaga and Granada, daily Diario Cordoba informed online.

Deadline To File Bids For Fondul Proprietatea Manager Extended By Jan 22

16:37, 19 Dec. 2008
The deadline to file initial bids for selecting the manager of Romanian investment fund Fondul Proprietatea was extended from January 15 to January 22, 2009, at the request of financial consultant Schroders, so that the interested companies would have more time to prepare their papers.

Bucharest Mayoralty To Pay RON63M For Street Refurbishment

15:31, 19 Dec. 2008
Bucharest mayoralty will pay 63 million lei (EUR1-RON3.9497) for rehabilitation of ten streets in the city, according to the bid notice.

Romanian Owned Black Sea Glbl Prp Offer EUR37.8M To Overtake Fabian Romania

14:34, 19 Dec. 2008
Black Sea Global Properties Limited, or BSGP, indirectly owned by Romanian businessman Dinu Patriciu, launched an EUR37.8 million offer to overtake the real estate investment fund Fabian Romania Limited.

Over 600 Transporters To Go Bankrupt By Feb On Higher Costs- Transporters Fed

12:53, 19 Dec. 2008
Over 600 transport companies, representing 10% of all companies in the transport sector, will go bankrupt by February 2009, on uncontrolled hike of taxes and duties, loans interests and infrastructure status, according to Federation of Romanian Transport Operators FORT.

Romania CNVM Suspends Public Offers On Stock Exch Dec 24-Jan 2

12:29, 19 Dec. 2008
Romanian Securities Commission CNVM suspended Thursday by emergency ordinance the public offers developed on the Bucharest Stock Exchange between December 24 and January 2, 2009, with the possibility of being subsequently extended.

Romania’s Senate Validates New MP Mandates

10:52, 19 Dec. 2008
The Romanian Senate validated in its plenary meeting Friday morning, by majority of votes, the mandates of its members elected in the parliamentary polls on November 30.

Romania Transylvania Highway Employees On Leave Until Jan 5

20:57, 18 Dec. 2008
The 2,500 people engaged in construction works on Transylvania Highway, linking central Brasov to western Bors in Romania, will be sent on leave during the winter holidays, but the activity will be resumed on January 5, 2009 unless US constructor Bechtel is considering massive layoffs.

Kraft Foods Romania Employees, Mgmt Continue Dispute Over Severance Pay

20:32, 18 Dec. 2008
Unionists of candy and coffee maker Kraft Foods Romania, which will shut down its chocolate factory in Brasov, central Romania, said the management on Thursday offered an ultimatum, urging them to accept its severance pay for employees, but the company’s general manager, Lacklan Grave, dismissed any allegations.

Romania 11-Mo New Car Sales Dn 10.4% YY To 257,941 Units

20:23, 18 Dec. 2008
New car sales in Romania dropped 10.4% on the year to 257,941 units in the first eleven months, the Automotive Manufacturers and Importers Association, or APIA, said in a statement Thursday.

Romanian Govt Forced To Issue G.O.s To Make EU Accession Possible – PM

20:22, 18 Dec. 2008
The Romanian government had to issue “massive” emergency ordinances in the first two years of ruling to make the EU accession possible, or the country could not have become a member state prior to 2020, according to the government activity report presented by outgoing premier Calin Popescu Tariceanu on Thursday.

Romanian PM Confirms State Aid For Dacia, Car Parts Suppliers

18:22, 18 Dec. 2008
Romanian outgoing premier Calin Popescu Tariceanu on Thursday confirmed information about a government bailout plan to help French carmaker Renault’s local unit Dacia and four car parts suppliers support production.

Renault Asks Romania For State Aid, Guarantees In EUR310M Invest

18:22, 18 Dec. 2008
French automaker Renault asked the Romanian Government for a EUR15.4 million state aid and might also ask for state guarantees for a EUR100 million European Investment Bank (EIB) loan, for EUR310 million investments in the group’s Romanian Dacia factory in Mioveni and car testing center in Titu.

Romania’s Rompetrol Group Delists Rompetrol SA Shrs From Rasdaq Mkt

17:45, 18 Dec. 2008
Romanian Securities Commission CNVM suspended Thursday the shares trading of Rompetrol SA, operator of Vega refinery, following the majority stockholder delisting procedure from Rasdaq market.

Austria’s Voestalpine Scraps Plans To Secure Land In Romania

17:40, 18 Dec. 2008
Austrian steelmaker Voestalpine on Thursday said it has abandoned plans to secure a potential site in Romania’s southeast city of Constanta in view of an estimated EUR5 billion investment to build a steel mill in the Black Sea area.

Microsoft Romania Lowers ‘08 Turnover Growth Expectations To 20%

16:32, 18 Dec. 2008
Microsoft Romania, the local division of U.S. software giant Microsoft, revised its 2008 turnover growth forecast down 15 percentage points, to 20%, because of the financial crisis, company general manager Calin Tatomir said Thursday.

EXCLUSIVE: Romanian Chief Anticorruption Prosecutor Has Mandate Extended Until End March

16:03, 18 Dec. 2008
Romania’s chief anticorruption prosecutor Daniel Morar was delegated to head the National Anticorruption Department, or DNA, for another 90 days starting January 1, 2009.

Romanian Social Democrats Select Minister Candidates

14:34, 18 Dec. 2008
The leaders of Romania’s Social Democratic Party met Thursday and validated the candidates for minister seats in the new Cabinet.

Steaua Owner Indicted In Match-Fixing Case

14:11, 18 Dec. 2008
FC Steaua Bucuresti owner Gigi Becali on Thursday was indicted in the “Suitcase” file on charges of bribery and false testimony.

Romanian Leu Exch Rate Plunges To 4-Yr Low, At RON3.9530 Vs Euro

14:01, 18 Dec. 2008
The Romanian leu depreciated against the euro during the Thursday trading session, and the central bank computed an indicative of RON3.9530 to the euro, a four-year low.

Romanian Democrat Liberals Select Minister Candidates

13:30, 18 Dec. 2008
The leaders of Romania’s Democratic Liberal Party met Thursday morning and validated the candidates for minister seats in the new Cabinet.

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.