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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.

Romanian PM: Public Sector Wage Hikes Would Call For EUR2,000 Additional Taxes

16:57, 06 Oct. 2008
Potential wage hikes for all employees in Romania’s public sector would require total budget expenses of EUR10 billion, which could only be covered by taxing all 5 million employees with additional EUR2,000 each, Premier Calin Popescu Tariceanu said Monday.

KazMunaiGaz Paid $1.6B For 75% In Romanian Rompetrol Vs. $2.7 Pvs Valued

15:38, 06 Oct. 2008
Kazakhstan's state energy company KazMunaiGaz, or KMG, paid $1.6 billion for a 75% stake in Netherlands-registered Rompetrol Group NV, founded by Romanian oil tycoon Dinu Patriciu, according to KMG's annual financial report, below the amount previously estimated at $2.7 million.

Romanian Healthcare Employees Urge 50% Or 60% Wage Hike

15:24, 06 Oct. 2008
Members of Romania’s Sanitas Federation said they would meet with health minister Eugen Nicolaescu Tuesday to discuss a potential 50% or 60% wage hike for employees in the healthcare system.

Depeche Mode Return To Romania To Play On May 16, 2009

15:22, 06 Oct. 2008
Depeche Mode returns to Romania in 2009, three years after their first concert in the country, to play in Izvor Park in center Bucharest on May 16, organizers Emagic told MEDIAFAX Monday.

Court Rules In Favor Of Romania’s Rafo Onesti In Crude Supplier Trial

12:18, 06 Oct. 2008
Brasov Courthouse ruled in favor of Romanian refinery Rafo Onesti in the trial with UK-registered crude oil supplier Glencore Energy, which asked to be registered at the creditors’ table, for a $75 million debt, representing the value of 123,530 tons of crude oil.

Romanian PM Voices Out Deficiencies In Tourism Sector

12:02, 06 Oct. 2008
Many towns in Romania, including capital city Bucharest, still face a serious shortage of accommodation spaces for the business sector, while investments in tourism must also focus on promoting this type of services, Prime Minister Calin Tariceanu said Monday.

Romanian Leu Continues Downward Trend Vs Euro

11:28, 06 Oct. 2008
The Romanian leu continued Monday its downward trend against the euro due to foreign investors’ lack of trust in the international efforts to solve the European crisis, traders said.

Romania’s Aug Net Salary Dn 2.4% M-M To RON1,277

10:02, 06 Oct. 2008
Romania's net average salary was down 2.4% on the month in August to 1,277 lei (EUR1-RON3.8720), the National Institute for Statistics said Monday.

Nearly 20,000 Romanian Unionists To Protest In Bucharest On World Day for Decent Work

17:21, 05 Oct. 2008
Nearly 20,000 Romanian people are expected to participate Tuesday at the protest organized by four trade unions in the capital city Bucharest, demanding higher purchasing power of wages and respect for employee rights.

The Number Of Polling Stations For Romanians In Spain, Italy Will Triple – Romanian Govt

16:48, 05 Oct. 2008
The number of polling stations for the Romanian citizens in Spain and Italy will be tripled in comparison to the electoral offices opened for the last elections, and Governmental services will inform and guide the Romanians living in Spain who plan to come back in the country.

Romanian Consuls To Be Rigorously Selected After November Parliament Elections – President

16:15, 05 Oct. 2008
Many Romanian consuls are members of the Government’s political clientele, but the November elections will bring about a selection among them, president Traian Basescu said Sunday at the Forum of the Romanian Diaspora Associations.

Romanian Doctors Push For Wage Hikes

14:24, 05 Oct. 2008
The Romanian Doctors College (CMR) will request the hike of doctors’ wages, if the government increases wages for teachers, public servants and other social categories.

Romania Can Grant Some State Aid To Austria’s Voestalpine – Min

14:18, 05 Oct. 2008
Romanian commerce minister Ovidiu Silaghi, who led the discussions with Austrian company Voestalpine for the building of a steel mill, said Romania can grant it state aid in some sectors only, while Turkey and Bulgaria have no restrictions from the European Union in this respect.

Romanian Education Unionists To Sue PM, Fin Min Over Statements On Teacher’s Wage Hike

16:49, 04 Oct. 2008
Romania’s Federation of Education Unions “Spiru Haret” will sue economy and finance minister Varujan Vosganian and Prime Minister Calin Tariceanu over their statements on the Chamber of Deputy’s decision to hike teacher’s wages by 50%, the head of the federation, Gheorghe Isvoranu, said Saturday.

Romanian President Wants To Encourage “Stronger” Romanian Associations

16:08, 04 Oct. 2008
Romanian president Traian Basescu said Saturday he wants to encourage Romanian citizens living abroad to get organized in “stronger” associations, as their “voice” is not powerful enough to fit their number in relation with national governments.

Romanian Liberals Understood They Were Wrong To Vote In Favor Of Teachers’ Wage Hike – PM

15:30, 04 Oct. 2008
Romanian liberal lawmakers, including education minister Cristian Adomnitei, understood they were wrong to vote Tuesday in favor of the 50% increase in teachers’ wages, as the measure is financially unsustainable, Prime Minister Calin Tariceanu said Saturday.

Romanian Govt Decides To Take Teachers’ Wage Hike To Constitutional Court

14:32, 04 Oct. 2008
The Romanian Government decided to inform the Constitutional Court on a possible conflict between the Government and Parliament sparked by the adoption of the law stipulating a 50% hike in teachers’ wages, Prime Minister Calin Tariceanu said Saturday.

Romania Has Not Reached European Targets On E-Waste Collection – Environ Min

14:01, 04 Oct. 2008
Romania collected 4,000 tons of electric and electronic waste by July this year, and has not met its European objective on this segment, Romania’s environment minister Korodi Attila said Saturday.