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Romania Needs Gradual Price Hike Plan, To Avoid Crisis– Oil Co Petrom

19:08, 30 Iun. 2008
Romania needs a good strategy to gradually align the price of natural gas produced in the country with the one imported from abroad, in order to avoid a major tariff crisis, Petrom’s CEO Mariana Gheorghe said Monday.

E.ON Gaz To Ask ANRE For New Household Gas Price Hike At Yearned

17:25, 30 Iun. 2008
E.ON Gaz Romania, the local unit of Germany’s E.ON Gaz, will ask Romania’s Energy Authority, or ANRE, for a new household gas price increase at yearened, in order to cover losses, the company’s director general Frank Hajdinjak said Monday at the hearings of the Commission for Services and Industry.

Constanta Mayor Wins Trial Against Romanian Anticorruption Department

17:21, 30 Iun. 2008
The Constanta Court of Appeals ruled Monday that the Romanian Anticorruption Department (DNA) must provide more information involving two of its experts who drafted a report based on which Constanta mayor Radu Mazare is prosecuted in connection with the retrocession of certain buildings.

Romanian Carmaker Dacia Launches Logan Sedan Facelift Tuesday

17:15, 30 Iun. 2008
Automobile Dacia SA, the Romanian unit of French carmaker Renault, will launch Tuesday the Logan Sedan facelift to boost sales for this car model and bring it to the producer’s new design line, which can be seen at Sandero model.

Romanian Econ Fin Ministry Publishes New Car Tax Norms

15:34, 30 Iun. 2008
The Romanian ministry of economy and finance published, on its official website, the enforcement norms for the ordinance introducing the pollution tax for cars. The norms present the calculation procedures for the new tax and the tax difference refund.

Romanian Ctrl Bk Fails To Attract Deposits As Mkt Interest Rates Are Higher

15:11, 30 Iun. 2008
The auction organized by Romania’s central bank Monday to drain excess liquidity off the market, as no lending institution took part in the operation, considering commercial banks offer interests ranging between 10.69% - 11.22% for one-week deposits, while the central bank offers 10%.

Romanian Fin Ministry To Draw Up Database Of Avg Prices For Works By Yearend

14:42, 30 Iun. 2008
Romania’s Ministry of economy and Finance will draw up by yearend a database of average prices for categories of works, to serve as reference for contracting authorities and beneficiaries of European funds, state secretary Eugen Teodorovici said Monday.

Romanian Parliament Leaders Decide Wed On Calling Extraordinary Plenary Session

14:26, 30 Iun. 2008
The standing offices of Romania’s two chambers of parliament meet Wednesday to decide on whether or not to call for an extraordinary plenary session, Senate chairman Nicolae Vacaroiu said Monday.

INS: Romanian Companies’ Innovation Invests Slightly Up In ‘04-‘06

11:07, 30 Iun. 2008
Approximately 21.1% of the Romanian companies employing at least 10 workers launched new or significantly improved products on the market between 2004 and 2006, up 1.2% compared to 2002-2004 period, the National Institute for Statistics, or INS, said Monday.

Romanian Transgaz Gas Transp Tariffs Up 20.35% Jul ’08 – Jun ‘09

10:49, 30 Iun. 2008
Romanian energy watchdog ANRE approved a 20.35% increase, at 1.15 billion lei (EUR1= 3.6561), of the total regulated tariffs charged by Romania's state-owned gas pipeline operator Transgaz (TGN.RO) for gas transport between July 1, 2008 and June 30, 2009.

Romanian Privatization Agency Cancels Mining Co Sale To Comply With EU Rules

10:37, 30 Iun. 2008
Romania’s privatization agency AVAS cancelled its offer to sell mining company Cupru Min Abrud and will modify and update the company’s presentation file after the European commission decided sale plans breached state aid rules.

Romania Ranks 40/121 In Forbes Best Countries For Business

15:38, 29 Iun. 2008
Romania was up 20 spots and ranks 40 in the 2008 edition of Forbes’ The Best Countries For Business, which includes 121 countries.

Two Died In Closed Gold Mine, Western Romania

15:14, 29 Iun. 2008
Two young men, 21 and 26, died and the father of the 21-year-old was taken to hospital after they were blocked for more than seven hours in a former gold mine in Hunedoara county, western Romania.

Over 600 Romanians Attended Job Fair In Spain

14:24, 29 Iun. 2008
Over 600 Romanians took part in the information campaign and job fair organized by the Romanian Labor Ministry in Alcala de Henares, Spain, the ministry said.

Romanian Authorities Alert On Acid Leaks Near Nuclear Pwr Station

14:17, 29 Iun. 2008
Authorities in Romania’s southeastern county of Constanta were on alert Sunday after employees of the country’s sole nuclear power plant in Cernavoda saw a cistern filled with hydrochloric acid was leaking in the power station’s parking lot.

Romania Still Vulnerable To International Financial Mkt Turmoil – IMF

15:14, 28 Iun. 2008
World financial market tensions contributed to a sharp nominal depreciation of the Romanian leu, and Romania remains vulnerable to additional adverse spillovers from events in global markets, the International Monetary Fund, or IMF, said Saturday.

Romania Received EU Funds Worth EUR1.6B In ’07- Report

19:07, 27 Iun. 2008
Romania accessed in the previous year European funds worth EUR1.602 billion, with EUR315.4 million in compensations, and had a contribution of EUR930.9 million to the EU budget, according to the financial report issued by the EU.

Romanian Positive Econ Pace Might End In Two Yrs -Ctrl Bk Official

17:25, 27 Iun. 2008
The Romanian positive economic pace might end in two years utmost, fueled by the high current account deficit of EUR17 billion reported at the end of 2007, central bank advisor Eugen Radulescu said Friday.

Romanian Govt Limits Loans For The Disabled On Abuses

16:37, 27 Iun. 2008
The Romanian Executive decided to limit the value of loans with state-subsidized interest that can be contracted by people with disabilities to EUR10,000, after people used the credits to buy luxury cars, motorboats or yachts.

Romania’s Chamber of Deputies To Investigate Energy Price Hikes As Of Jun 30

16:36, 27 Iun. 2008
The Committee for Industry in Romania’s Chamber of Deputies will investigate last years’ price rise on household natural gas and electricity, the tariffs, the impact of the setting up of the integrated energy holding, and will verify the requests of the economic operators in the energy sector.

U.S. Ford Pays Back Romania AVAS EUR27.5M State Aid In Craiova Auto Plant Deal

15:52, 27 Iun. 2008
U.S Ford paid Romania’s Privatization Agency AVAS Friday the EUR27.56 million illegal state aid granted with the sale of auto-assembly plant Automobile Craiova, the agency said.

Private Lending In Romania Grows At Risky Pace – Ctrl Bker

15:48, 27 Iun. 2008
Consumer lending in Romania is growing at such a fast pace that it entails high risks for banks and macroeconomic stability, Romanian central bank governor Mugur Isarescu said Friday in a seminar.

Romania Should Hold Parliament Elections In Spring 2009 – Far Right Official

13:08, 27 Iun. 2008
Romania should hold general elections in spring 2009 along with elections for the European Parliament, said Gheorghe Funar, secretary general of Romania’s far-right Greater Romania Party, or PRM.

Eleven Y-O Pregnant Romanian Girl May Terminate Pregnancy – Health Ministry

11:54, 27 Iun. 2008
The Romanian 11 year-old girl who is 29 weeks pregnant may have an abortion under Romanian law, Health Ministry state secretary Vlad Iliescu told a news conference Friday.

The 12.5% Gas Price Hike Covers Only Part Of Distrigaz Sud’s Costs

11:39, 27 Iun. 2008
Gas distributor Distrigaz Sud, majority-owned by French utility Gaz de France, said Friday that the 12.5% natural gas price hike announced by Romania’s energy watchdog ANRE covers only part of the company’s costs, so that the company will have to adopt a more drastic approach towards bills payment.

Ford To Return EUR27M State Aid For Automobile Craiova Privatization

08:40, 27 Iun. 2008
U.S. automaker Ford Co. (F), owner of Romania’s auto assembly plant Automobile Craiova, will return Friday to Romania’s Privatization Authority AVAS an illegal EUR27 million state aid granted for Automobile Craiova privatization.

Fitch Sees Romania Vulnerable To Inflation Shocks

21:33, 26 Iun. 2008
Fitch Ratings on Thursday placed Romania on the 11th spot, together with Egypt, in its classification of the 16 emerging markets most vulnerable to inflationist shocks.

Romania’s Natural Gas Prices May Hike Again As Of Oct 1 – ANRE

19:21, 26 Iun. 2008
Price of household natural gas will not hike in the third quarter of 2008, but it might be up on October 1, if Romania’s Energy Authority ANRE receives justified price rise requests from gas distributors.

TI: Romania Scores Badly On Corruption Progress

19:18, 26 Iun. 2008
Romania scored poorly on corruption fighting last year, and the only sectors that registered some progress were healthcare and police activities, Transparency International Romania said in its National Corruption Report released Thursday.

Romanian Household Indebtedness Requires ‘Close Monitoring’ – Ctrl Bk

18:28, 26 Iun. 2008
Romanian household indebtedness rose to a level that requires “close monitoring”, the central bank said in a statement Thursday, following a 0.25% hike in its policy rate to 10%.

Romanian Producers, Retailers Agree On Good Practices Guide

16:53, 26 Iun. 2008
Romanian producers and retailers on Thursday reached an agreement upon stipulations included in the Guide of Good Practices and said that will sign the document on July 2.

Romanian Transp Min Plans To Resume Works On Bucharest-Danube Canal, Needs At Least EUR450M

15:20, 26 Iun. 2008
The Romanian Transport Ministry plans to resume construction of the Bucharest-Danube canal, and needs at least EUR450 million to finish the project started in 1986, transport minister Ludovic Orban said Thursday.

Romania Food Prices Seen Rising Following Utility Price Hikes

14:26, 26 Iun. 2008
Food prices in Romania will increase following the hike in electricity and natural gas prices come July 1, Sorin Minea, head of the employers’ federation in the food industry Romalimenta, said Thursday.

Romanian President Urges Parliament To Meet In Extraordinary Session

13:56, 26 Iun. 2008
Romanian President Traian Basescu urged the Parliament to meet in extraordinary session in the first ten days of July to reexamine the law on the Court of Accounts and to vote on prosecutors’ request to probe bribery allegations against former Cabinet members.

Romanian Audiovisual Watchdog To Ask President Not To Promulgate Amendment Regulating News Bulletins

13:36, 26 Iun. 2008
The head of Romania’s National Audiovisual Council, or CNA, Rasvan Popescu, said Thursday the council will ask President Traian Basescu not to promulgate the amendment to the audiovisual law adopted by the Senate Wednesday.

Romania’s Natural Gas Prices Up By Avg 12.5% As Of Jul 1 -ANRE

13:13, 26 Iun. 2008
The gas prices delivered to population will be up by an average 12.5% as of July 1, on the costs increase in purchasing natural gas during January to June period, as well as in order to partially recover the price differences reported during that period, Romania’s Energy Authority ANRE said.

Romanian Pwr Prices Up By Avg 5.3% Jul 1 – ANRE

13:00, 26 Iun. 2008
Electric power prices will hike by an average 5.3% as of July 1, while electricity household prices will increase by 4.4% at 0.3125 lei per kWh (EUR1=RON3.6639), Romanian energy watchdog ANRE, said Thursday.

Italy’s Enel To Invest EUR220M In Electrica Muntenia Sud By 2011

11:55, 26 Iun. 2008
Italian utility Enel SpA will invest some EUR220 million between 2009 and 2011, in upgrading the networks of regional power distributor Electrica Muntenia Sud.

Romanian Senate Regulates TV, Radio News In Audiovisual Law Amendment

20:51, 25 Iun. 2008
News bulletins on Romanian television and radio stations will have to ensure a balance of positive and negative stories, according to a proposal adopted by the Senate Wednesday.

Romania Reduces Troops For ‘09 Intl Missions By 541

19:40, 25 Iun. 2008
Romania’s Supreme Defense Council on Wednesday decided to reduce the number of troops that can participate in international missions in 2009 by 541 soldiers, the presidency said in a statement.