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Sting To Play In Bucharest On Feb 10, 2009

12:11, 16 Oct. 2008
Highly acclaimed and multiple Grammy-winning English musician Sting will have a concert in Bucharest on February 10, 2009, event organizers Emagic said Thursday.

Romanian Leu Opens Lower Vs Euro

11:14, 16 Oct. 2008
The Romanian leu opened lower against the euro Thursday, then started to appreciate in line with currencies in emerging markets.

Romanian PM Invites Political Parties For Talks On Public Sector Wages

19:41, 15 Oct. 2008
Romanian Prime Minister Calin Tariceanu intends to meet Friday with the leaders of the Parliament parties for consultations regarding the salaries of public sector employees, political sources told MEDIAFAX.

Romanian Top Communist-Era Generals Sentenced To 15 Years

19:39, 15 Oct. 2008
Romania’s Supreme Court on Wednesday sentenced two former high-ranking generals to 15 years in jail each for their role in killing demonstrators during the 1989 anti-communist revolution.

Romanian CEC Car Deposits Transferred To BRD To Be State Compensated As Well

17:57, 15 Oct. 2008
Romanian MPs decided, Wednesday that the state will also offer compensations to people who deposited money to savings bank CEC in view of purchasing a Dacia car, and transferred that money to the BRD bank before February 15, 1992.

Romanian Const Court: Laws On Pensions, Teachers’ Wage Hike, Court of Accounts Are Constitutional

15:08, 15 Oct. 2008
Romania’s Constitutional Court Decided Wednesday that the laws on pensions, teachers’ wage hike and on the Court of Accounts are constitutional.

Romanian Police Car Purchases Are Clean – Police Official

15:04, 15 Oct. 2008
The head of the Romanian Police (IGPR), Gheorghe Popa, said that, at his request, DGA, DGIPI, DIF, and SRI informed that there are no suspicions regarding the contracts for the purchase of police cars.

Parental Benefit For Romanians Worth 85% Of Last Year’s Incomes

14:43, 15 Oct. 2008
Romania’s Chamber of Deputies adopted Wednesday with 171 votes in favor and two abstentions the legislative initiative stipulating a parent benefit worth 85% of the average of the last 12 months’ incomes, no less than the current indemnity of 600 lei (EUR1=RON3.7869).

EC Proposes Hike Of Min Deposit Guarantee To EUR100,000

14:34, 15 Oct. 2008
The European Commission has proposed to increase the minimum deposit guarantee threshold to EUR100,000 in one year, from EUR20,000 at present, while the payout period in the event of bank failure is to be reduced from three months to three days, the Commission said.

Romania’s Poor Infrastructure Ousts Czech Investors – Ambassador

13:58, 15 Oct. 2008
Romania’s poor infrastructure is the main obstacle for Czech investments in Romania, followed by tax policy and justice reform, the Czech Ambassador to Bucharest, Petr Dokladal, stated Wednesday during a press conference in Arad city.

Romanian Education Unions Start Major Protest In Bucharest

13:53, 15 Oct. 2008
Several thousands of Romanian education unionists started, Wednesday, the rally in Bucharest’s Constitution Square, protesting against the fact that the Government challenged in the Constitutional Court the law hiking teacher salaries by 50%.

Romania To See Food Price Hikes If Currency Continues Depreciation

13:32, 15 Oct. 2008
Food prices in Romania are seen rising if the Romanian leu continues to lose ground against the euro, Dragos Frumosu, head of the Union Federation in the Food Industry, said Wednesday.

Romanian Food Indus Unions Want Finance Minister Sacked

13:02, 15 Oct. 2008
Romanian union federation in the food industry Agrostar demanded Wednesday the resignation of finance minister Varujan Vosganian for “sabotaging Romanian economy”, federation president Stefan Nicolae said.

German Car Mkr Volkswagen Brings Scirocco Model To Romania

10:56, 15 Oct. 2008
Porsche Romania, local importer of Wolkswagen cars, launched the Scirocco hatchback, available in two petrol engines, at prices ranging between EUR21,603 and EUR24,808, VAT included.

Romania Carmaker Dacia 9 Mo Global Sales Up 17.1%, To Over 194,000 Units

10:54, 15 Oct. 2008
Romanian carmaker Dacia, the local unit of French Renault, reported a 17.1% increase in global sales, to 194,165 units, in the first nine months of the year, compared with 165,834 units in the same period a year ago, according to data offered by Renault.

Romania To Firmly Oppose Creation Of EU Single Banking Watchdog – President

10:26, 15 Oct. 2008
Romanian President Traian Basescu said Wednesday, before leaving for Brussels to attend the European Council, that Romania will strongly oppose any attempt to create a single European banking watchdog, as the Romanian central bank is supervising the country’s banking system.

Spanish Youngster Arrested For Racism Against Romanians

20:26, 14 Oct. 2008
Spanish police charged an 18-year-old national with instigation of violence and racism, following the youngster’s web post on a contest with the theme “who hits the most Romanians,” Spanish news agency Europa Press reported Tuesday.

Romanian Ctrl Bker: Monetary Policy Can’t Be Relaxed Much

19:10, 14 Oct. 2008
The monetary policy should be in line with the local and international conditions and cannot be relaxed too much, even if Romania comes after ten years of economic growth, central bank governor Mugur Isarescu said Tuesday.

Romanian PM Lowers Wages Of Public Agency Managers

18:30, 14 Oct. 2008
The Romanian government on Tuesday decided to lower monthly wages in government-run agencies to match the wages earned by state secretaries, Premier Calin Popescu Tariceanu said.

Romania Pres To Demand Interior Min Spending Analysis

17:56, 14 Oct. 2008
Romanian president Traian Basescu said he will notify the state’s institutions for a very serious analysis regarding cars and equipment contracted by the Ministry of Interior and regarding the first stage of obtaining the objectives assumed so that Romania may enter the Schengen space.

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.