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EIU: Romania Highly Vulnerable To Intl Turmoil Due To High Curr Acct Gap

15:56, 17 Sept. 2008
Romania is one of the countries most vulnerable to the financial turbulence, as its current account deficit is likely to remain above 10% until 2013, the Economist Intelligence Unit, or EIU, said in a report.

Romanian PM Presents ’05 – ’08 Governing Report

15:18, 17 Sept. 2008
The Government, throughout its mandate, said the best form of social security is a job, and offered certainties, not shallow promises, said Romanian Prime Minister Calin Tariceanu upon presenting the Government report.

Romanian Senate Rejects High School PC Project

13:55, 17 Sept. 2008
The Romanian Senate Wednesday rejected 52 to 14 votes and four abstentions the draft law approving Government Emergency Ordinance no. 87/2008, offering desktop computers to ninth and tenth graders, to be used at home.

Romanian Future Govt Should Avoid Econ Growth Acceleration–Ctrl Bker

13:28, 17 Sept. 2008
Romanian economy is expected to register a significant advance until entering euro zone, so future governments should avoid pressing the gas pedal for the country’s economic growth, Romanian central bank Governor Mugur Isarescu said in a press statement Wednesday.

Romania To Transfer RON1,370M From State Budget To Hike Pensions As Of Oct 1 – Labor Min

12:44, 17 Sept. 2008
Romania will transfer 1,370 million lei (EUR1=RON3.6494) from the state budget to the pension budget, as stipulated in the state budget law adopted in 2007, in order to increase pensions as of October 1, labor minister Paul Pacauraru told MEDIAFAX Wednesday.

Pwr Prices For Household Users In Low-Consumption Category Up 7.9% In 1H

11:02, 17 Sept. 2008
The price of electricity for household end users in the low-consumption category were up 7.95% in the first half of 2008, while for those in the high consumption category, prices were down 0.5%, compared with the second half of 2007, the National Statistical Institute, or INS, said Wednesday.

Analysts: International Financial Crisis May Affect Romania

19:35, 16 Sept. 2008
The international financial crisis might have an indirect effect upon Romanian economy, as this could reduce capital flows and investors’ appetite for risk, analysts said.

Romania Senate: Magistrates To Appoint Chief Prosecutors, Not President

19:30, 16 Sept. 2008
Romanian Senate on Tuesday approved an amendment to Law 303/2004, which stipulates chief prosecutors of national departments fighting corruption and organized crime, along with their deputies are to be appointed by the High Council of Magistrates, not the head of state.

Romanian PM Appoints Ex Democrat Head As High Govt Rep

19:14, 16 Sept. 2008
Former democrat leader Petre Roman was appointed, through a decision of Prime Minister Calin Tariceanu, as High Representatie of the Government for Romanians abroad, within the Chancellery of the Prime Minister, with the position of state adviser.

Romania Might Attract Up To EUR15B Investments In Energy Sector By 2012

14:46, 16 Sept. 2008
Romania might attract investments worth EUR12-15 billion between 2009-2012 in the energy sector, Romania’s Economy and Finance Minister Varujan Vosganian said Tuesday at a press conference.

New Car Registrations In Romania Dn 3.5% In First 8 Mos, To 201,870 Units- ACEA

11:42, 16 Sept. 2008
New car registrations in Romania fell by 3.5%, to 201,870 units in the first eight months of the year, compared with the same period a year ago, which places the country 11th among European Union states, according to data offered by the European Automobile Manufacturers’ Association, or ACEA.

Gas Prices To Hike In Oct On Higher Imported Russian Gas Price – Distrigaz Sud

11:34, 16 Sept. 2008
The price of natural gas will hike in October on the backdrop of an expected price increase of the gas imported from Russia, an official of gas distributor Distrigaz Sud said Tuesday.

Romania Climbs One Spot In ’08 IT Competitiveness Hierarchy – EIU Study

11:12, 16 Sept. 2008
Romania ranked 39 out of 64 countries included in the IT competitiveness hierarchy drawn up by the Economist Intelligence Unit (EIU), one position higher than in 2007, but still behind most countries that joined the European Union in 2004 and 2007.

Romania’s BCR Sells 2 Units To Austria’s VIG For EUR244M

10:16, 16 Sept. 2008
Banca Comerciala Romana, or BCR, the Romanian unit of Austrian Erste Bank, will sell its insurance companies BCR Asigurari and BCR Asigurari de Viata to Vienna Insurance Group, or VIG, in a deal worth some EUR244 million, BCR said in a press release Tuesday.

EC Recommends Romania Tightens Fiscal Policy, Reduces Bureaucracy

19:47, 15 Sept. 2008
The European Commission recommended Romania should tighten its fiscal policy and reduce bureaucracy, European Commissioner for Multilingualism Leonard Orban said Monday.

Romania Safe From Ripple Effect After U.S. Lehman’s Collapse – PM

19:24, 15 Sept. 2008
Romania has nothing to fear from possible influences of the financial turmoil in the U.S., Romanian Premier Calin Popescu Tariceanu said Monday.

Coca-Cola HBC Romania Shuts Down Factory In Oradea

19:24, 15 Sept. 2008
Coca-Cola HBC Romania, subsidiary of Greek group Coca-Cola HBC, will shut down mid-November its factory in Oradea, northwestern Romania, while the 102 employees are to receive compensatory payments, the company said Monday.

EU Econ Slowdown To Affect Romania – European Commissioner

17:53, 15 Sept. 2008
Romania will inevitably be affected by the slowdown of the economic growth in the European Union member states, even though the country’s economy reported a significant growth over the past months, European Commissioner for Multilingualism Leonard Orban said Monday.

Czech Aero Vodochody, Israeli Marcovici Capital File Bids For Helicopter Mker IAR Sale

16:20, 15 Sept. 2008
Czech Aero Vodochody and Israeli Marcovici Capital Ltd submitted bids for the sale of the majority stake in Romania’s sole helicopter maker IAR Ghimbav, by the deadline on September 15, representatives of the country’s privatization authority AVAS said Monday.

Over 6% Rise Of GDP Keeps Romanian Inflation High – Ctrl Bk Chief Economist

15:06, 15 Sept. 2008
A gross domestic product growth of over 6% will keep inflation high and it will be highly unlikely for the index to go below 3%, central bank chief economist Valentin Lazea said Monday.

Romanian IT&C Company Intrarom To Bring Computers To 8,191 Schools

13:42, 15 Sept. 2008
Romanian IT&C company Intrarom, subsidiary of INTRACOM TELECOM, won on August 29 the auction organized by the Ministry of Education and Research for the outfitting of computer labs in 8,191 school and high schools. The value of the contract reaches RON432.38 million (EUR122.48 million).

Libra Bank, Pension House Make Deal For Pension Payment System

13:18, 15 Sept. 2008
Romanian lender Libra Bank and the National Pension and Social Insurance House (CNPAS) signed an agreement on paying pensions via current accounts or bank cards, which will be opened for pensioners willing to use this service.

Famous Singers Join Race For Best Romanian Act At 2008 MTV Europe Music Awards

18:43, 14 Sept. 2008
Singers Andra, Smiley, Crazy Loop and Morandi are among the nominees for Best Romanian Act at the 2008 MTV Europe Music Awards to be held on Nov 6 in Liverpool, United Kingdom, a press release of MTV Romania read.

Romanian Actor Stefan Iordache Dies At 67

17:26, 14 Sept. 2008
Romanian actor Stefan Iordache, 67, passed away Sunday of heart attack at a medical clinic in Vienna, medical sources said.

Romania’s AVAS Extends Sale Offer For Aircraft Mkr Avioane Craiova

16:40, 14 Sept. 2008
Romania’s privatization agency AVAS extended by 15 days, until September 29, the offer to sell its 80.9% majority stake in the country’s airplane maker Avioane Craiova, in a move to complete negotiations with Czech Aero Vodochody.

Romania Gets Yellow Code Warning For Heavy Rain

14:51, 14 Sept. 2008
Romania’s meteorological authorities (ANM) issued Sunday yellow code warning forecasting heavy rain countrywide Sunday night through Tuesday morning.

Romanian Fondul Proprietatea To Pay 2007 Dividends Sep 15

20:45, 12 Sept. 2008
Romania's investment fund Fondul Proprietatea will pay dividends worth 0.0659 lei (EUR1= RON3.6031)/share for 2007, as of September 15, the company said Friday in a press statement.

Romanian Democrat Liberals Officially Propose Theodor Stolojan For PM

20:31, 12 Sept. 2008
Emil Boc, leader of Romania's Democratic Liberal Party (PDL), officially announced Friday within the party’s national conference that Theodor Stolojan is the party’s proposition for the position of prime-minister in view of the parliamentary elections scheduled for end November.

General Manager of Romania’s SAPARD Payment Agency Resigns

19:09, 12 Sept. 2008
Laszlo Klarik, general manager of Romania’s Agency for Rural Development and Fishing (APDRP), which manages SAPARD payments, submitted his resignation Friday.

Romanian PM Says An Informant By Any Other Name Is Still An Informant

13:41, 12 Sept. 2008
Romanian Prime Minister Calin Tariceanu, head of the Liberal Party, called on senators Friday to vote against amendments brought to the law regulating access to communist-era monitoring files, saying there is no such thing as an unwilling informant, and informant politicians should not get a pass.

KPMG Romania To Draft Fondul Proprietatea’s IAS Financial Statements

13:04, 12 Sept. 2008
Romania’s investment fund Fondul Proprietatea selected KPMG Romania to draft its individual and consolidated financial statements according to international accounting standards, or IAS, the fund said Friday.

Romania Old Apt Prices Seen Dn 30% By ’09 – Realtor

18:55, 11 Sept. 2008
Old apartments in Romania are seen 30% cheaper by the end of 2009, on higher supply, officials of realtor Neocasa Real Estate said Thursday.

Romanian PM Sees Inflation On Descending Path In Next Mos

17:57, 11 Sept. 2008
Romanian inflation is seen continuing its descending path over the next months, Prime Minister Calin Popescu Tariceanu said, adding the recent salary increases will not be affected by price increases.

Major Romanian Cannabis Dealer Arrested

14:11, 11 Sept. 2008
A Bucharest citizen, considered the largest cannabis dealer, was arrested under charges of producing and selling on the Romanian black market over 150 kilograms of cannabis and byproducts, thus obtaining an approximate profit of EUR150,000, the Romanian Police said Thursday.

Romania’s Romtelecom To Launch Mobile Telephony Service By Yearend

13:46, 11 Sept. 2008
Romania's largest hard-line operator RomTelecom, majority-owned by Hellenic Telecommunications Organization SA, or OTE, won the license and will launch its mobile telephony services by yearend, the company’s general manager, Yorgos Ioannidis, said Thursday.

Gap Betw Romania’s National Net Avg Wage And Wages In Multinational Cos Narrowed In 2008 – PwC

12:48, 11 Sept. 2008
Differences between Romania’s national net average wage calculated by the official statistics board and the net average wage paid by private companies have reduced in 2008 compared to 2007, but large gaps remain for management positions, PricewaterhouseCoopers (PwC) said Thursday.

Services Make Most Of Romanian 1H GDP, FDI Seen Over EUR10B In ‘08

12:44, 11 Sept. 2008
The services sector contributed the most in the first-half gross domestic product, followed by the construction sector, the National Statistics Institute, or INS, said Thursday at a press conference.

Danish Co Might Build Wind Farms In Romania, 2010-2012

11:58, 11 Sept. 2008
Danish power producer Scan Energy might install wind farms in Romania between 2010 and 2012, following the acquisition of 170 large-scale turbines worth some EUR500 million from Germany’s Nordex, the latter said Thursday in a press release.

Romania, Austria’s Voestalpine To Sign Steel Mill MoU In Oct – Sources

19:00, 10 Sept. 2008
Romanian government and representatives of Austria's steelmaker Voestalpine will sign a memorandum of understanding (MoU) in the first half of October and the Austrian group will decide in December the country to building its steel mill, sources close to the matter said Wednesday.

Romanian Govt Sees 8.5-9.1% Econ Growth In ’08 Vs 6% In ‘07

18:58, 10 Sept. 2008
The Romanian Government said Wednesday this year’s economy is expected to grow by 8.5-9 percentage points, compared with a gross domestic product growth of 6% the year before.