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Court Of Appeals Rejects Setup Of Romanian Pwr Holding Hidroenergetica

16:12, 17 Apr. 2011
The Bucharest Court of Appeals has rejected Romanian state-owned hydropower producer Hidroelectrica's request to allow the merger of several power companies into the national power holding Hidroenergetica.

Romanian Govt Expects RON8.8B Revenue From Stricter Fiscal Inspections

13:40, 17 Apr. 2011
Romania's Government expects to collect 8.8 billion lei (EUR1=RON4.0966) over the next three years from stricter controls on "high fiscal risk taxpayers," plus RON160 million from taxes on high wealth.

Romania Might Be Affected By New Recession, Caused By Japan Earthquake – Govt

13:21, 17 Apr. 2011
Economic recovery is difficult and overdue, while the effects of the earthquake in Japan raise new concerns about the global recession that can affect Romania, given the "climate of psychosis around cataclysms," which can impact markets, says the Government's fiscal strategy.

Romanian Govt To Reduce Budget Gap In 2012-2014 Through Layoffs

13:15, 17 Apr. 2011
Romania's Government will reduce the budget deficit over the next three years through layoffs, suspending payment of the 13th salary and holiday bonuses, as well as freezing the hierarchical coefficients provided by the public sector wage law.

Romanian Govt Considers Paying Court-Won Wage Rights In Smaller Tranches

12:58, 17 Apr. 2011
The Romanian Government considers reducing the tranche to be paid next year to public sector employees who won salary rights in court to 5% from 34%, according to a draft fiscal strategy for 2012-2014 obtained by MEDIAFAX.

Romanian Govt To Reduce Social Contributions, Keep Flat Tax, VAT Unchanged Until 2014

12:41, 17 Apr. 2011
The Romanian Government will reduce social security contributions by two percentage points in the second half of 2011 and will keep the flat tax and the value added tax unchanged in the next three years.

Romanian Health Min Postpones Fast-Food Tax Introduction

12:38, 17 Apr. 2011
Romanian Health Minister Attila Cseke said Sunday on ProTV that the fast-food tax's introduction has been postponed, because the time is not right and Romania is not ready.

Romanian Health Min: Converted Hospitals To Save Budget RON175M

12:38, 17 Apr. 2011
Romanian Health Minister Attila Cseke said Sunday on ProTV that converting 67 hospitals to nursing homes for the elderly will save the state budget 175 million lei (EUR1=RON4.0966), but one of the goals of this move was curbing their inefficiency.

Romanian Court Allows Rompetrol Rafinare Delisting, Appeal Pending

17:19, 15 Apr. 2011
The Bucharest Court of Appeals decided securities regulator CNVM should pay oil company Rompetrol 1 million lei (EUR1=RON4.0966) in moral damages after the blocked delisting of Rompetrol Rafinare (RRC.RO), according to a Rompetrol report issued Friday.

Romanian PM Says He Appreciates Transp Min Endeavor To Attract EU Funds

14:56, 15 Apr. 2011
Romanian Prime Minister Emil Boc said Friday he appreciates the effort made by the Transport Ministry to attract European funds.

Bucharest Subway Operator Metrorex Wants To Buy 16 New Trains, For EUR107M

14:37, 15 Apr. 2011
Bucharest subway operator Metrorex has announced its intention to buy 16 new trains for an estimated EUR107.2 million.

Romania Must Pay Back EUR75M To EC For Misuse Of EU Funds For Agriculture

14:37, 15 Apr. 2011
The European Commission claims back EUR74.9 million from Romania, as the country misused European agricultural policy funds.

Romanian Govt To Assign RON35B To Investments This Year, RON45B In 2012

14:36, 15 Apr. 2011
Romania’s Government will assign 35 billion lei (EUR1=RON4.0966) for investments this year and the sum will be increased to RON45 billion next year, Prime Minister Emil Boc told a news conference Friday.

Romanian Public Road Authority Claims EUR40M In Penalties From Contractors

14:05, 15 Apr. 2011
Romania's public road authority CNADNR claimed penalties of about EUR40 million, between September 2010 and March 2011, from nine domestic and foreign companies, including Colas, FCC Construccion and Astaldi, for various violations.

Romania Posts Highest Annual Inflation In EU For 8th Straight Month

13:58, 15 Apr. 2011
Romania maintained the highest inflation in the European Union for the eighth month in a row in March, while the EU's average rate was stable at 2.7%, statistics office Eurostat said Friday.

Stolen Dacian Artifacts To Be Returned To Romania In May – Min

12:42, 15 Apr. 2011
Romanian Culture Minister Kelemen Hunor said Friday the Dacian artifacts illegally taken out of Romania and recovered by German authorities will be returned to Romania “sometime in May”.

Romanians Called 112 Emergency No. 4.8 Million Times In 1Q, 74% Of Calls False

12:06, 15 Apr. 2011
Romanians called the 112 emergency number 4.8 million times in the first quarter of the year, and 25.9% of calls were real and 74.1% false, according to data released by the Special Telecommunications Service (STS).

CJEU Dismisses EC Action Against Romania Over Wild Bird Conservation

21:24, 14 Apr. 2011
The Court of Justice of the European Union has ruled inadmissible the European Commission's action against Romania for its failure to provide protection for wild birds, Bogdan Manoiu, head of the Department for European Affairs, told MEDIAFAX on Thursday.

Wizz Air Romania To Reduce Operations In Cluj-Napoca, Move Flights To Targu Mures

16:34, 14 Apr. 2011
Low-cost airline Wizz Air will reduce its transport capacity on Romania's Cluj-Napoca International Airport by 26% as of May 5, moving its operations to the Targu Mures Airport, because of new and increased airport taxes.

Romanian Clunkers Program Available For Electric Car Buyers Starting Next Week

14:59, 14 Apr. 2011
Romania’s 2011 edition of the cash for clunkers program will also be available, starting next week, for those who want to buy electric vehicles, Environment Minister Laszlo Borbely said Thursday.

About 100 Unionists Picket Romanian Health Ministry Over Closed Hospitals

14:18, 14 Apr. 2011
About 100 unionists affiliated with the Sanitas union in the healthcare system are picketing the Health Ministry Thursday over authorities’ decisions to shut down dozens of local hospitals countrywide and turn them into nursing homes.

Romanian Film „Loverboy” To Compete In Un Certain Regard Section At Cannes

13:54, 14 Apr. 2011
The film "Loverboy" by Romanian director Catalin Mitulescu has been selected to compete in the Un Certain Regard section of the Cannes Film Festival (May 11-22), organizers announced Thursday.

Romanian Integrity Agency Asks Prosecutors To Investigate Fmr Education Min Adviser

12:24, 14 Apr. 2011
The Romanian National Integrity Agency (ANI) asked anticorruption prosecutors to investigate Melania Vergu, former adviser of the education minister, after it found she misused EU funds granted to her project.

Romania Offers To Help Italy By Hosting 200 Tunisian Immigrants

12:13, 14 Apr. 2011
Romanian President Traian Basescu called Italian Prime Minister Silvio Berlusconi saying Romania could host 200 Tunisian immigrants, according to a statement published Wednesday on the Italian government’s website.

Romanian PM: Govt To Deregulate Energy Mkt According To Calendar

20:43, 13 Apr. 2011
Romania's Government will deregulate its energy market by 2015, following a calendar agreed upon with the International Monetary Fund and the European Commission, Prime Minister Emil Boc said Wednesday.

Romanian PM Asks Whether Fuel Prices Can Be Frozen

20:42, 13 Apr. 2011
Romanian Prime Minister Emil Boc has asked the Competition Council and Department for European Affairs to check whether fuel prices can be frozen in Romania on the basis of a law providing such an exception, but adopted before joining the European Union.

Russia’s Sberbank Leaves Romania Out Of Volksbank Deal – Sources

16:17, 13 Apr. 2011
Russian leading bank Sberbank has decided not to include Volksbank Romania in a deal to buy the Central and Eastern European units of Austria’s Volksbank AG to avoid relocating headquarters, people familiar with the matter told MEDIAFAX.

Romanian Govt To Shut Down Illegal Buildings On Black Sea Coast, Raise Fines

15:46, 13 Apr. 2011
Romania's Government plans to close every illegal building, whether completed or under construction, on the Black Sea Coast and will increase the fines for such buildings ten times.

Romanian Carmaker Dacia To Cease Production In April 22 – May 2

15:30, 13 Apr. 2011
Romanian carmaker Dacia will cease production at the car plant in Mioveni, southern Romania, between April 22 and May 2, due to shortages of car parts, Renault Romania director of communications Anca Oreviceanu told MEDIAFAX Wednesday.

About 70% Of Romanians Would Rather Buy A Home Than Pay Rent – Poll

12:17, 13 Apr. 2011
About 70% of Romanians would rather buy a home than rent one and most prefer three-room apartments, but nearly half of them can only afford a down payment of less than EUR10,000 for a home, according to a poll by property website imobiliare.ro.

Romania’s Current Account Deficit Shrinks To EUR44M In Jan-Feb

11:23, 13 Apr. 2011
Romania's current account deficit narrowed to EUR44 million in January to February, from a gap of EUR747 million in the year-earlier period, on a much lower trade deficit, central bank data showed Wednesday.

Romania Central Bank To Raise Inflation Forecast In May

18:47, 12 Apr. 2011
Romania’s central bank will revise upward its forecast for the year-end inflation at a quarterly report due May, prompted by surging global food and oil prices, said Adrian Vasilescu, adviser to the central bank governor.

IMF: Romania Gross Govt Debt Up To 37.8% Of GDP In 2011

18:29, 12 Apr. 2011
Romania’s gross general government debt is likely to increase to 37.7% of the gross domestic product in 2011, from 35.2% a year earlier, the International Monetary Fund said in a report Tuesday.

Romanian Govt Suspends Certified Tax Statement Obligation

17:25, 12 Apr. 2011
Romania's Government has decided not to require companies to certify their yearly tax statements until January 1, 2013, so as to relieve the taxpayers of this additional cost and avoid cases when these statements are not filed at all.

Romanian Govt May Reject “Unusually Low” Public-Private Auction Bids – Draft

17:19, 12 Apr. 2011
The Romanian Government may reject bids submitted on auctions awarding public-private partnership contracts, if the respective offers are “unusually low” and if data show investors will not be able to meet requirements.

Romanian Competition Auth To Complete Fuel Mkt Probe By Midyear

15:04, 12 Apr. 2011
The Romanian Competition Council’s investigation of the local fuel market should be complete in the first half of the year, and the results will be sent to the European Commission, the authority's president Bogdan Chiritoiu said Tuesday.

Romanians Remain Pessimistic About Economy – Poll

14:43, 12 Apr. 2011
Romanians remain most pessimistic about the state of the economy, with over 50% saying the crisis will not end for another two to five years, according to a survey from market researcher ISRA Center.

Romania’s Oltchim Could Take Over Remaining Activities At Arpechim

14:12, 12 Apr. 2011
Romania’s Economy Ministry Tuesday said chemical plant Oltchim (OLT.RO) might take over the entire activity at troubled supplier Arpechim, after the refinery was shut down because of lack of demand.

Romanian Govt Plans To Increase Waste Recycling Rate

14:10, 12 Apr. 2011
Romania currently recycles only 1% of its waste and the 50% recycling target set for 2020 cannot be reached, so the Government will put forward a new waste management law, which will include new taxes.

Romania Awards RON3.5B Contracts For Highway Constructions

14:06, 12 Apr. 2011
Romania’s public roads authority CNADNR has awarded construction contracts worth a total 3.45 billion lei (EUR1=RON4.1152) for four highway sections in the western part of the country, the authority said Tuesday.