English

Romanian FDI Seen Rising To EUR5.8B In 2014

13:55, 25 Apr. 2011
The Romanian government estimates foreign direct investments will increase to EUR5.8 billion in 2014, from EUR3.6 billion predicted for this year, according to the draft convergence program for 2011-2014.

Tax Increases Could Shadow Romania Private Consumption Recovery

13:53, 25 Apr. 2011
Romanian private consumption is set to pick up in the coming period, following sharp reductions in the previous years, but recovery could lag behind due to possible tax increases and higher global prices for oil and food items, according to the draft convergence program for 2011-2014.

Six People In Romanian Baneasa Airport Management Indicted In Procurement Fraud Case

14:05, 22 Apr. 2011
Romanian anticorruption prosecutors on Friday indicted six people, including four managers of the Bucharest Baneasa Airport, for causing damages of more than 23 million lei (EUR5.8 million) in an overestimated contract.

ING: Jobless Figures Don’t Reflect Romanian Economic Reality

13:31, 22 Apr. 2011
Romanian declining unemployment rate “is spectacular”, but it doesn’t reflect the economic reality in the country, ING Bank said in a report Friday.

Romanian PM Says New Labor Minister To Be Appointed After Easter

11:59, 22 Apr. 2011
Romania’s Prime Minister will appoint a new labor minister after Easter, following talks within the ruling Democratic Liberal Party, Boc said Friday.

Romanian Media Owner Sorin Ovidiu Vintu To Be Investigated At Large For Blackmail

08:42, 22 Apr. 2011
A Bucharest court ruled late Thursday Romanian businessman Sorin Ovidiu Vintu may be investigated at large for blackmailing the manager of his TV station, Realitatea Media, Sebastian Ghita.

Romanian Medicine Graduates Who Fail Intern Exam Will Have Limited Duties – Draft

18:00, 21 Apr. 2011
Romanian medical school graduates who failed the medical internship exam will be allowed into the system with limited duties, according to a draft order by the Health Ministry.

Romanian Cernavoda-Medgidia Hwy Segment To Cost Up To EUR170M

16:42, 21 Apr. 2011
Completing the Romanian Cernavoda-Medgidia highway segment will cost between 500 and 700 million lei (EUR120-170 million), without VAT, according to public road authority CNADNR's new tender announcement, published after terminating the contract with French constructor Colas.

Romanian Union Leader Marius Petcu Indicted For Corruption

16:23, 21 Apr. 2011
Romanian National Anticorruption Department prosecutors on Thursday indicted union leader Marius Petcu, who was caught rapid taking EUR40,000 in bribes.

Romanians Concerned Over More Price Increases – Survey

14:43, 21 Apr. 2011
Romanian consumers estimate further price increases in the coming period, due to possible higher taxes and charges, a survey from market researcher GfK showed Thursday.

Romanian Businessman Sorin Ovidiu Vintu Detained On Blackmail Charges

20:51, 20 Apr. 2011
Romanian businessman Sorin Ovidiu Vintu was detained Wednesday by the General Prosecutor's Office for blackmailing Realitatea Media manager Sebastian Ghita.

Romania Amends Law On Public-Private Partnership – Sources

15:48, 20 Apr. 2011
The Romanian Government amended the law on public-private partnerships (PPP), after the European Commission warned Romanian authorities that the normative act breaches EU legislation, people close to the matter told MEDIAFAX Wednesday.

Romanian Banks “Warming Up” For Lending Restart – Assoc

14:44, 20 Apr. 2011
Romanian banking system is going through a “warm-up” period, when the lenders provide mostly refinancing services, but the situation must change so that private lending can recover, the head of Romanian Banking Association said Wednesday.

EC Authorizes Romanian RON1.3B Aid Scheme For Farmers

14:40, 20 Apr. 2011
The European Commission on Wednesday has authorized a Romanian state aid scheme with a budget of 1.3 billion lei (EUR1=RON4.0858) which aims to support farmers who face difficulties due to the economic crisis.

Romanian Govt To Subsidize Purchase Of Electric, Hybrid Cars

14:17, 20 Apr. 2011
Romania's Government will encourage the purchase of electric and hybrid cars with price discounts of 20% and 10%, respectively (up to EUR3,700 or EUR1,800, respectively), Environment Minister Lazlo Borbely announced Wednesday.

Romanian Health Ministry’s Budget Raised by RON6.2M For Stem Cell Donors Registry

14:02, 20 Apr. 2011
The budget of the Romanian Health Ministry has been raised by 6.2 million lei (EUR1=RON4.0858) and its staff numbers by 24 people to ensure the functioning of the country’s stem cell donors registry, Prime Minister Emil Boc said after the Cabinet meeting Wednesday.

Romania Ctrl Bk Bound To Lose Popularity Once Economy Recovers

13:56, 20 Apr. 2011
Romania's central bank will resume acting as a brake on potential economic overheating once the economy recovers, deputy governor Bogdan Olteanu said Wednesday.

Romanian Mihai Necolaiciuc Brought To Romania To Stand Trial

13:54, 20 Apr. 2011
Romanian Mihai Necolaiciuc, wanted for embezzlement, was brought to Romania from the United States under police escort on Wednesday.

Romanian State Secretary Nicolae Ivaschescu Appointed Interim Labor Minister

13:43, 20 Apr. 2011
Romanian Labor Ministry state secretary Nicolae Ivaschescu was appointed interim minister after Labor Minister Ioan Botis resigned, Prime Minister Emil Boc said Wednesday.

Romanian Labor Minister Resigns Amid Conflict Of Interest Allegations

10:24, 20 Apr. 2011
Romanian Labor Minister Ioan Botis has resigned Wednesday morning after a talk with the prime minister, amid allegations of a potential conflict of interest raised by the fact that his wife is an adviser on a EU and Government-funded project.

WB: Romanian Leu Set To Firm Vs Euro On Long-Term

20:22, 19 Apr. 2011
Romania’s leu is bound to strengthen against the euro on the long run, once living standards improve, Kaspar Richter, senior economist at the World Bank (WB) told MEDIAFAX Tuesday.

Romanian Dacia Car Worldwide Sales Up 2% In 1Q, To 81,600 Units

20:21, 19 Apr. 2011
Sales of Romanian Dacia cars worldwide increased by 2% in the first quarter of 2011, to 81,600 units from 79,850 units in the same period last year, as the decline of the Logan and Sandero models was offset by solid sales of the Duster SUV, French group Renault announced.

Rompetrol Group Swings To $0.9M Net Profit In 1Q

19:56, 19 Apr. 2011
Romania’s second largest oil group Rompetrol Tuesday said it switched to a net profit of $900,000 in the first quarter, from a loss of $56.2 million in the year-earlier period.

WB: Romania Economy To See Solid Growth Improvement In 2011

19:54, 19 Apr. 2011
Romanian economy will grow at one of the fastest paces in Eastern Europe in 2011, but recovery remains sluggish, the World Bank (WB) said in a report Tuesday.

Romanian Businessman Dinel Staicu Detained In Hungary

19:39, 19 Apr. 2011
Romanian businessman Dinel Staicu, convicted of fraud, was apprehended by police in Hungary, people close to the matter told MEDIAFAX.

Romania To Pay Almost EUR7.5M For ECHR Judgments Final In 2010

19:21, 19 Apr. 2011
Romania is liable for almost EUR7.5 million in just satisfaction for judgments which remained final in 2010, according to the annual report on the execution of judgments of the European Court of Human Rights (ECHR).

Romanian Labor Min Says Wife To Quit Position As Adviser On EU-Funded Project

15:44, 19 Apr. 2011
Romanian Labor Minister Ioan Botis said Tuesday his wife will quit her position as adviser to a EU and Government-funded project, amid allegations of a possible conflict of interest.

Romanian Antifraud Department Suspects Labor Min In Conflict Of Interest

14:42, 19 Apr. 2011
The Romanian Antifraud Department (DLAF) believes "there are indications of breaches of national and community law on the conflict of interest" in the case of a project run by an NGO where the wife of Labor Minister Ioan Botis is an adviser.

Romania Public Art Sales Up 124% On Year In 2010

14:19, 19 Apr. 2011
Public art sales in Romania increased 124% in 2010, compared to 2009, to EUR8.3 million, and the average annual yield stood at 40%, according to the second edition of the Artmark Index, launched Tuesday by the Bucharest Stock Exchange.

MP Drafts Law Banning Romania’s Would-Be Natural Gas Exports

14:05, 19 Apr. 2011
Romanian leftist MP Iulian Iancu told an energy conference Tuesday that he has submitted a draft law banning natural gas exports, even though Romania is physically unable to unfold such exports at the moment.

Romanian Agric Min Says Romania Could Pay Less Than EUR75M To EU For Misused Funds

13:42, 19 Apr. 2011
Romania could pay less than EUR75 million as penalties to the European Commission for misused EU funds, Agriculture Minister Valeriu Tabara told MEDIAFAX in an interview.

CBRE: Retailers Still Maintain High Interest For Romanian Market

12:41, 19 Apr. 2011
Romania ranks third of 73 countries in the world by the number of retail brand entries in 2010, in a survey of real estate consultancy firm CB Richard Ellis.

Romanian Dacia Car Registrations In EU Fall 3.7% In 1Q, To 62,819 Units

11:49, 19 Apr. 2011
Romanian carmaker Dacia is ranked 17th in the European Union regarding the number of new car registrations in the first quarter of the year, which dropped 3.7% compared to the same interval in 2010, to 62,819 units, according to data by the European Automobile Manufacturers Association.

Romanian Transp Min Sets New Rules For Hwy Construction Contracts

17:53, 18 Apr. 2011
The contracts for the construction of four highway segments on Romania's sector of Pan-European Corridor IV will have new clauses, to disallow increasing the contract value by more than 10%, and penalizing overdue constructors by 0.1% per day.

Romanian Transport Min Steps Up To Fire Highway Section Constructor

16:17, 18 Apr. 2011
Romania’s Transport Ministry has sent a contract termination notice to the constructor of a highway section linking capital Bucharest to Ploiesti, in southern Romania, because the builder left the site and raised its price 47%.

Amy Winehouse To Play In Bucharest On August 15

15:47, 18 Apr. 2011
British singer Amy Winehouse will appear in concert on the "Iolanda Balas" Stadium in Bucharest, on August 15, said organizers Events.

Romanian Education Min Needs Extra RON2.5B To Complete Current Investments

13:48, 18 Apr. 2011
Romania’s Education Ministry wants all pre-university education units to obtain sanitary authorization in the next four years, according to the Government’s fiscal strategy for 2012-2014 obtained by MEDIAFAX.

Romanian Bankrupt City Mall Fails To Attract Buyer For Second Time

13:46, 18 Apr. 2011
Bucharest shopping center City Mall failed to attract investors at a second auction following the company’s bankruptcy in November last year and liquidators are looking for alternatives to repay creditors, people familiar with the matter said Monday.

French Interior Min: France Is Convinced Romania Must Join Schengen Area

13:45, 18 Apr. 2011
France is convinced Romania must join the Schengen Area and French authorities are prepared to help Romania meet all the technical requirements, French Interior Minister Claude Gueant said Monday.

PwC: Romania Needs Friendlier Laws to Become Major Trade Route

12:25, 18 Apr. 2011
Romania could become a major trade route, through the Constanta harbor on the Black Sea coast, but first it needs measures such as postponing the payment of value added tax for all importing companies, regardless of volumes, audit and consultancy firm PricewaterhouseCoopers said Monday.