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Romania’s Money Mkt Rates Up To More Than 45% On High Demand

13:16, 17 Oct. 2008
Romanian money-market interest rates soared Friday to more than 46% on foreign investors’ high demand for local currency as investors expect the Romanian currency to depreciate in the following period.

Romanian Econ Unable To Support Teacher’s Pay Hike – PM

12:31, 17 Oct. 2008
Romania’s budget cannot sustain the 50% pay hike for teachers voted in parliament and the measure is likely to trigger a major economic crisis, Premier Calin Popescu Tariceanu said Friday.

Romanian Justice Ministry Says Parliament To Blame For Company Law Infringement

12:30, 17 Oct. 2008
The Romanian Ministry of Justice said Friday it sent the Parliament amendments harmonizing company laws with EU rules ever since June, but lawmakers failed to adopt the changes on lack of quorum.

Romanian Leu Opens Higher Vs Euro On Positive Sentiment

11:32, 17 Oct. 2008
The Romanian leu opened higher against the euro Friday, amid high traded volumes, in line with the positive trend of currencies in emerging markets.

Romania’s Sacked Police Chief Denies Any Wrongdoing

11:18, 17 Oct. 2008
Romania’s freshly sacked Chief of Police Gheorghe Popa said Friday he was forced to sign the procurement contract to buy police cars, over which he lost his job, or he would have faced severe financial sanctions.

Romanian Shrs Open Higher On Positive Intl Trend

10:50, 17 Oct. 2008
Romanian shares opened higher Friday, following the positive trend on international markets, with the five regional investment funds, or SIFs, gaining ground.

Four Romanians Among Hostages In Caribbean

10:47, 17 Oct. 2008
Four Romanian citizens are part of a group of 17 foreigners, mostly Israelis, held hostage by disgruntled Chinese laborers on isolated Caribbean island, said Israel's ambassador to the Dominican Republic, Amos Radian, cited by Ynetnews.com

Romania Avioane Craiova Employees Resume Protests, Call For Exec’s Resignation

10:43, 17 Oct. 2008
A couple of hundred employees with Romanian plane maker Avioane Craiova resumed protests Friday morning, calling for the resignation of company manager Anatolie Boldisor.

Romanian PM Sacks Chief Of Police Over Faulty Procurement Mgmt

09:58, 17 Oct. 2008
Romanian Prime Minister Calin Tariceanu signed Thursday evening a decision dismissing Chief of Police, Gheorghe Popa, the government said in a statement.

Romanian Pres to Meet With Ctrl Bk Governor Friday, 11:00 Local Time – Ctrl Bk

20:34, 16 Oct. 2008
Romanian president Traian Basescu will meet Friday morning, at the central bank headquarters, with central bank governor Mugur Isarescu, the members of the central bank managing board and the presidents of commercial banks, in order to discuss the conclusions of the European Council.

Romanian Interior Min Asks PM To Sack Police Chief

19:30, 16 Oct. 2008
Romanian interior minister Cristian David asked Prime Minister Calin Tariceanu to dismiss the chief of Romanian Police, Gheorghe Popa, on grounds of faulty management in the unfolding of police car procurement.

Romania’s Carmaker Dacia Launches Revamped Logan MCV On The Local Mkt, On Oct 23

18:18, 16 Oct. 2008
Automobile Dacia SA, the Romanian unit of French carmaker Renault (13190.FR) launches in Romania its car model Logan MCV facelift, on October 23, after having it displayed in the Paris Auto Show in the beginning of this month.

EC Warns Romanian Prv Auth On Distrigaz, Electrica Sale Terms – Sources

17:13, 16 Oct. 2008
European Commission warned Romanian Privatization Authority AVAS that some terms in the sale contracts of local gas and electricity distributors Distrigaz Sud, Nord and Electrica Dobrogea, Banat could breach the EU norms, by conferring special rights to the state, AVAS sources told MEDIAFAX Thursday

Romanian Citizens To Be Able To Discount Medical Expenses Made In Hungary

16:35, 16 Oct. 2008
Romanian citizens will be able to discount their medical expenses made in Hungary, for treatment or surgery, according to a plan of measures initiated by the health ministers of Romania and Hungary, who will have a joint meeting in Szeged next week.

Gwyneth Paltrow’s Necklace, Demi Moore’s Bag To Be Auctioned Off For Charity In Bucharest

15:36, 16 Oct. 2008
A diamond necklace that belonged to Gwyneth Paltrow and Demi Moore’s Versace HIT bag will be auctioned off for charity at the fourth edition of the Halloween Charity Ball to take place at the Parliament Palace in Bucharest on October 25.

Economic Crisis To Hit Us If We Don’t Show Prudence – Romanian President

15:32, 16 Oct. 2008
Although the current financial crisis has not affected Romania, its follow-up won't spare the country unless prudence is shown, Romanian President Traian Basescu said Thursday in Brussels.

Romanian Senator Quits Politics For Curt Of Accounts

15:04, 16 Oct. 2008
Romanian far-right senator Verginia Vedinas said Thursday she is quitting politics and her career as a lawyer to work as a council member at the Court of Accounts for the next nine years.

Romanian Homeowners Press For Promotion Of Law On Nationalized House

14:32, 16 Oct. 2008
A few hundreds of homeowners on Thursday rallied in front of the Romanian presidential Cotroceni Palace to press for promotion of the current form of the Law on nationalized houses.

Banks’ Denigration Might Be Punishable Under Criminal Law

14:30, 16 Oct. 2008
The president of Romanian Bank Association ARB, Radu Gratian Ghetea said Thursday that he talked with Justice Minister Catalin Predoiu about introducing in the Criminal Code a stipulation to punish banks’ denigration.

Porsche Romania To Launch Audi Q5 On Local Mkt Nov 12

14:22, 16 Oct. 2008
Porsche Romania, importer of Audi brand on the local market, will launch the compact Q5 SUV (Sport Utility Vehicle) on Nov 12 and the new V 12 engine for the Q7 SUV at a later date, Audi brand manager in Romania, Mihai Halmagianu, said Thursday at the launch of A6 facelift on the local market.

EC Pursues Infringement Against Romania Over Company Law

14:20, 16 Oct. 2008
The European Commission decided to pursue infringement procedures against Romania and four other member states over failure to transpose into national law a Directive simplifying the raising of capital and the restructuring of capital ownership in public limited liability companies.

Top Communist-Era General Wants 15 Yr Jail Term Lifted

13:38, 16 Oct. 2008
Former high-ranking general Victor Athanasie Stanculescu, sentenced to 15 years in prison Wednesday for his role in the killing of in demonstrators during the 1989 anti-communist revolution, asked that his jail term be lifted.

Romania Avioane Craiova’s Exec To Step Down Oct 22 – Official

12:36, 16 Oct. 2008
Local authorities in Romanian southern county of Dolj on Thursday assured Avioane Craiova’s employees, who staged a protest over non-payment of salaries, that company manager Anatolie Boldisor will step down from his position during the shareholders’ meeting due for Oct. 22.

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.