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Romania Sept Inflation +0.4% MM, Annual CPI Slows To 7.3%

10:04, 10 Oct. 2008
Romania's consumer price index grew by 0.4% on the month in September, mainly driven by an increase in prices for services, but annual inflation slowed to 7.3%, due to a favorable base effect, the National Statistics Institute said Friday.

Romanian Public Servants Picketed Govt HQ

17:08, 09 Oct. 2008
Members of Romania’s National Union of Public Servants (SNFP) picketed the Government for two hours on Thursday, demanding a 50% wage hike and legal protection for control institutions’ employees.

Intl Fincl Turmoil, Proof That Capitalism Requires Capital – Romania’s PM

16:50, 09 Oct. 2008
The international financial turmoil is a clear example that capital is a prerequisite for capitalism, Romania's Prime Minister Calin Popescu Tariceanu said Thursday in Rome, saying these problems should not be long lasting.

Romanian Postal Co. Posta Romana Opens 6 Offices In Spain

16:23, 09 Oct. 2008
Romania’s state-owned postal company Posta Romana invested EUR200,000 in six post offices in Spain, company general manager Dan Mihai Toader said Thursday.

Romania, Italy To Act Together For The Social Integration Of Rroma People

16:12, 09 Oct. 2008
Romanian Prime Minister Calin Tariceanu and Italian Prime Minister Silvio Berlusconi, agreed Thursday during the bilateral summit organized in Rome to initiate together actions aimed at the social integration of Rroma people, both on Romanian and Italian territory.

Romania’s Stock Exch Cannot Fix The Indices Colors – Bourse Pres

15:20, 09 Oct. 2008
Bucharest Stock Exchange, or BVB, cannot set the stocks trend, nor the price limits, and investors should cut their emotions and not panic, BVB general manager Stere Farmache said on Thursday.

Romanian Bks Unaffected By Intl Crisis, On Careful Supervision – Official

14:04, 09 Oct. 2008
All Romanian banks are carefully supervised, and they face no problems, Petru Rares, president and general manager of Romanian Banking Institute IBR, said Thursday in a press conference, speaking about the effects of the international financial crisis.

Romanian Leu Strengthens Vs Euro In Early Trade

11:18, 09 Oct. 2008
The Romanian leu opened lower against the euro Thursday, but strengthened constantly in early trade, in line with currencies on the emerging markets, and supported by a possible intervention of the central bank, traders said.

Nearly 100,000 Romanian State Employees Go On Warning Strike

10:30, 09 Oct. 2008
Nearly 100,000 public servants affiliated to the Romanian Federation of Public Servants’ Unions Sed Lex went on a two-hour warning strike Thursday morning, and threaten general strike on October 16.

Romanian Banks Stop Interbank Lending On Market Rumors

19:08, 08 Oct. 2008
The Romanian banks have stopped interbank lending due to market rumors, but the liquidity was ensured from other sources, the head of the National Bank of Romania supervision department Nicolae Cinteza said Wednesday.

Romanian Govt Approves National Pwr Holding Setup

18:41, 08 Oct. 2008
The Romanian government has decided on Wednesday through emergency ordinance to establish the national energy company, which groups nearly 50% of the country’s power production.

Romanian Suspends Tax On Stock Exchange Invest Profit In ’09 – PM

18:02, 08 Oct. 2008
The Romanian Government decided Wednesday that profits made from stock exchange investments would not be taxed in 2009, Prime Minister Calin Popescu Tariceanu said.

Romanian Ctrl Bker: People Shouldn’t Withdraw Deposits, No Bk Has Problems

18:01, 08 Oct. 2008
Deposits in the Romanian banking system are safe, as no bank is confronting liquidity problems for the moment, the head of the National Bank of Romania’s supervision department Nicolae Cinteza said Wednesday.

Romanian Lawmakers Add Dormition Of The Virgin To Legal Holidays

16:46, 08 Oct. 2008
Romanian deputies decided Wednesday to declare August 15, when Romanian Orthodox Christians celebrate the Dormition of Virgin Mary, a legal holiday, accepting President Traian Basescu’s Labor Code reexamination request.

Romanian Deputies Voted Initial Content Of Law On Nationalized Houses

15:04, 08 Oct. 2008
Romanian deputies rejected Wednesday with 117 "pros," 79 "cons" and 28 abstentions the report of the committee for legal matters with the Chamber of Deputies regarding President Traian Basescu’s request to re-examine the law on nationalized houses.

Romanian Constitutional Court Overrides Senate On Prosecutor Appointment Issue

14:58, 08 Oct. 2008
The Romanian Constitutional Court decided Wednesday, with a majority of votes, that the amendments brought to the law governing the High Council of the Magistrates regarding the appointment of chief prosecutors, are unconstitutional.

Romanian Police Shoots Teenager During Botched Robbery

13:00, 08 Oct. 2008
One 14 year-old teenager in a southeastern Romanian commune ended up in the hospital, Tuesday night, after being shot by the police as he was trying to flee the scene of a botched robbery at an old woman’s home.

Bucharest Stock Exchange Board Recommends Resuming Trade Thursday

12:48, 08 Oct. 2008
The Bucharest Stock Exchange proposed that brokers resume trading on Thursday by the usual calendar, and keep transactions suspended all day Wednesday.

Trading On Bucharest Stock Exchange Suspended

12:10, 08 Oct. 2008
Bucharest Stock Exchange board suspended Wednesday the trading, at 0808 GMT, after the market took a steep dive, with its main indices recording losses larger than 10%, while the five regional investment funds, or SIFs, plunged 14.64%.

Romanian PM: A 50% Pay Hike For Teachers ‘Cannot Be Done!’

20:19, 07 Oct. 2008
The Romanian authorities need to send out a clear message regarding the challenged 50% salary hike for teachers, and this is that “It can’t be done!”, Premier Calin Popescu Tariceanu said Tuesday.

Romanian Pres Signs Decree Appointing New Education Min

18:39, 07 Oct. 2008
Romanian president Traian Basescu signed Tuesday the decree dismissing Cristian Adomnitei fmro the position of education minister and appointing Anton Anton in this position, the Presidential Administration informed.

Romanian Senators Drafted 2009 Budget, Eye More Money Than Fin Ministry Proposed

16:50, 07 Oct. 2008
Romania senators will benefit, starting 2009, from an integrated application of economic, logistic and human resources management worth 800,000 lei (EUR1=RON3.9277), and an air purifying device for the plenary meeting hall worth RON250,000, according to the Senate's 2009 budget draft.

Romanian PM Invites Unions To Talks On Public Sector Wage Hikes

16:05, 07 Oct. 2008
Romanian Prime Minister Calin Tariceanu invited representatives of the country’s four union confederations to the government’s headquarters Friday to discuss the issue of wage hikes in the public sector.

All But One Bank Sent New Loan Norms To Romanian Ctrl Bk

15:48, 07 Oct. 2008
All Romanian banks sent to the central bank the new lending norms for natural persons by the deadline on Monday, except for a small bank with a market share below 1%, the central bank representatives said Tuesday.

Romanian B’estfest Festival Nominated For Best European Festival Award

15:18, 07 Oct. 2008
Romanian B'estfest festival, which rocked capital city Bucharest this summer at its second edition, was nominated for the Best European Festival Award, the organizer of the event, Emagic Entertainment, announced.

Chamber Session Shutdown Is An Option – Romanian Chamber Speaker

14:04, 07 Oct. 2008
Romanian Chamber Speaker Bogdan Olteanu said Tuesday he will end the ordinary Chamber session when he feels pressure building up on the budget or Romania, adding he called on political leaders to give up on populist measures such as boosting the salaries of teachers.

Intl Fincl Crisis To Affect Romanian Econ, Bks, Unless State Steps In – Rompetrol Official

13:38, 07 Oct. 2008
Romania is already affected by the international financial crisis, which will negatively impact the banking market and will trigger a slowdown in the economic growth, unless the central bank and the government take action, Rompetrol’s general manager Dinu Patriciu said Tuesday.

Romanian CFR Marfa To Be Privatized In 2009 – Transp Min

13:20, 07 Oct. 2008
Romanian Transports Minister Ludovic Orban said Tuesday that he plans to sell next year the state-owned rail freight company CFR Marfa and the ministry is waiting a confirmation of the privatization strategy from the European Commission, or CE, for more than three months.

Budapest-Constanta High Speed Rail Contract To Be Signed In ‘09- Romanian Transp Min

13:08, 07 Oct. 2008
The construction contract for a high-speed rail linking Hungary’s capital Budapest to Romania’s capital Bucharest and its southeastern city of Constanta on the Black Sea shore, will be signed in 2009, Romanian transport minister Ludovic Orban said Tuesday.

Romanian PM Sacks Education Minister Amid Public Sector Wage Scandal

13:05, 07 Oct. 2008
Romanian Prime Minister Calin Tariceanu sacked education minister Cristian Adomnitei Tuesday amid a public sector wage scandal after lawmakers passed a law increasing teachers’ wages by 50%.

Head of Romania’s Research Authority Agrees To Take Over Education Ministry

13:04, 07 Oct. 2008
The head of Romania’s National Authority for Research and Science Anton Anton accepted the proposition made by Prime Minister Calin Tariceanu to take over the position of education minister, Anton told MEDIAFAX Tuesday.

Romanian Rompetrol To Lay Off 1,500 Employees Over Next 3 Yrs

12:46, 07 Oct. 2008
Rompetrol, the second largest oil group in Romania, will lay off 1,500 employees in one to three-year period, after 500 employees have already left the company, in a reorganization process, Rompetrol general manager Dinu Patriciu said Tuesday.

Bucharest Down Three Spots In European Business Destinations’ Top 34 – Study

12:28, 07 Oct. 2008
Romania’s capital city Bucharest ranks 31 of 34 European cities in this year’s hierarchy of the best business destinations, losing three positions because of high rents for office spaces and availability of high quality office locations, according to a study made by Cushman&Wakefield.

Skoda To Sell New Superb In Romania For EUR18,982, VAT Included

11:30, 07 Oct. 2008
Porsche Romania, importer of Skoda brand on the local market, launched Tuesday the new car model Superb, available in three equipment versions, in a choice of three gas engines and three diesel engines, at prices ranging from EUR18,982 to EUR34,213, VAT included.

Romanian Sed Lex Unionists Set Up Protests Plan

11:27, 07 Oct. 2008
Over 100,000 public servants affiliated to the Romanian Federation of Public Servants’ Unions Sed Lex will go on a warning strike on Thursday, and on general strike as of October 16, unionists’ representatives said Tuesday.

ANI Law Unconstitutionality Question Is Normal Step – Magistrate Council

21:57, 06 Oct. 2008
The president of the Romanian High Council of the Magistrates, Lidia Barbulescu, said the Council’s notification regarding the unconstitutionality of texts within the National Integrity Agency law came after the complaint filed by a magistrate.

Romanian Pres Blasta High Council Of Magistrates

20:01, 06 Oct. 2008
Romanian president Traian Basescu noticed that despite the lack of consistent progress under Lidia Barbulescu, the High Council of the Magistrates is seeking ways to block the activity of the National Integrity Agency, and not to apply the European Commission recommendations, said the presidency.

Euro Demand Up 20% In Bucharest Exchange Offices, On Lower Leu

19:11, 06 Oct. 2008
Euro demand at exchange offices in Bucharest rose 20% on Monday compared with 7-10 days ago, the european currency being sold at RON3.95/RON4, after a strong depreciation of Romanian leu in the last days, representatives of exchange offices said.

Romanian Public Servants, Fin Min Fail To Reach Agreement On Salary Hikes

19:10, 06 Oct. 2008
Romanian public servants will go on warning strike as of October 9, after negotiations on salary hikes between trade union officials and finance ministry failed on Monday, unionists said.

Romania Could Use EU Measures To Fight Crisis, If Needed

18:41, 06 Oct. 2008
The Romanian authorities are ready to replicate the measures used by European Union, in order to counter possible shocks of the international crisis, central bank governor Mugur Isarescu said Monday.