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City Mall Bucharest To See Fourth Sale Attempt, At EUR23.58M

11:57, 30 Mai 2011
Bankrupt shopping center City Mall Bucharest will be put up for sale for the fourth time on June 10, in an auction starting at EUR23.58 million, some 30% less than the initial price of EUR33 million.

Romania To Eliminate Barriers To Opening Hypermarkets, After EU Pressure

13:40, 29 Mai 2011
Romania's Government, under pressure from the European Commission (EC), has pledged to remove barriers to the opening of retail chains, by no longer requiring the competition's approval and an impact study before issuing authorization.

Romania Risks EU Sanctions Unless It Refunds Car Tax – Experts

13:04, 29 Mai 2011
Romania risks sanctions from the European Union, from a potential infringement procedure, and a great number of suits brought on by car owners, unless the government urgently changes the car tax and repays the funds it collected.

Romanian Family Doctors Stand Firm In Negotiations On Healthcare Contract

12:59, 29 Mai 2011
Romanian family doctors will not sign the new frame-contract with the National Health Insurance House unless it is adopted in the form agreed with the Health Ministry.

Romanian Postal Co Restructuring To Affect 2000 Employees

17:14, 27 Mai 2011
Restructuring the Romanian postal service will affect around 2000 employees, 6% of the total staff, some of whom will be laid off, company president Daniel Neagoe told MEDIAFAX on Friday.

Korean Companies Eye Stake In Romanian Nuke Project

15:54, 27 Mai 2011
A consortium formed of two South Korean companies wants to join the construction of reactors 3 and 4 at nuclear power plant Cernavoda, the Romanian Economy Ministry said in a news release Friday.

Romanian Food Processors Accept High Retail Slotting Fees Out Of Fear

14:46, 27 Mai 2011
Romanian food processors are afraid of the major store chains, which might take their products off the shelf, and therefore accept the highest slotting fees in Europe, said Valeriu Steriu, chairman of the presidential committee for agricultural policies.

Romanian Online Store eMAG Starts Selling Books

11:59, 27 Mai 2011
Online store eMAG on Friday said it has widened its portfolio to include books, planning to become the top book retailer within the year.

World Bank Lends Romania EUR500M For Social Assistance Reforms

11:26, 27 Mai 2011
The World Bank’s Board of Executive Directors on Thursday approved a EUR500 million loan to support a social assistance program of Romania’s government estimated at EUR5.5 billion.

Romanian Union Agrostar Says Food Prices Will Rise 3-5%

11:22, 27 Mai 2011
Food prices in Romania will rise 3-5% in the following period because of adverse weather conditions and the international context, officials of the Agrostar food industry union federation said Friday during a seminar.

Romanian Public Sector To Recover 2010 Wage Cut In Two Steps Next Year – PM

22:17, 26 Mai 2011
The wage cut implemented in Romania's public sector last year will be entirely recovered next year, likely in two installments, Prime Minister Emil Boc said Thursday on Realitatea TV.

Only One Romanian Private Hospital Met 2nd Class Requirements – Health Min

20:13, 26 Mai 2011
A single Romanian private hospital has been classed in category 2, 50 others in categories 4 and 5, and nine others have not yet been classed, out of the 66 private units that want to receive public funds, Health Minister Attila Cseke told MEDIAFAX on Thursday.

Romania To Apply Reverse Taxation On Cereal Starting June 1

18:05, 26 Mai 2011
Romania will apply reverse taxation on cereal and plants with industrial use for about two years starting June 1, according to a draft emergency ordinance drawn up by the Finance Ministry.

Carmaker Ford Produced 3,000 Commercial Vehicles In Romania In Jan-April

17:54, 26 Mai 2011
Carmaker Ford produced about 3,000 Transit Connect light commercial vehicles at its car plant in Craiova, southern Romania, in the first four months of the year, four times more than in the same interval in 2010.

Romanian Posta Romana To Be Restructured Before Postal Service Liberalization In 2013

14:40, 26 Mai 2011
The board of Romanian state-run postal company Posta Romana will discuss Thursday a restructuring plan which aims to get the company ready for the liberalization of postal services set for January 1, 2013, said Communications Minister Valerian Vreme.

Romanian President Says Police Layoff Bill Rejection Shows Weakness In Ruling Coalition

14:21, 26 Mai 2011
Romanian President Traian Basescu said Thursday on public radio the Parliament’s failure to pass a bill laying off police officers shows weakness in the ruling coalition and comes at a bad time.

Roubini: Romania Unlikely To Join Eurozone In 2015

13:39, 26 Mai 2011
Romania will probably miss its self-imposed deadline for euro adoption in 2015, American economist Nouriel Roubini said Wednesday, mentioning that there’s “nothing wrong with waiting another year or two” before joining the euro area.

EIB Official: Romania Registers Delays In All Stages Of EU Fund Absorption Process

13:30, 26 Mai 2011
Romania registers delays in all phases of the EU fund absorption process, also because financing must be ensured before projects are approved, Milena Messori, director of the European Investment Bank office in capital Bucharest, said Thursday.

Fewer Romanian SMEs Unable To Repay Loans – SME Guarantee Fund

13:16, 26 Mai 2011
The number of small and medium-sized companies (SMEs) unable to pay back their loans has decreased this year and SMEs have started taking loans for investments rather than mere subsistence, said Thursday Aurel Saramet, head of the country’s guarantee fund for SMEs.

Romanian FM Hopes Romania Gets Clear Schengen Entry Date This Fall

12:06, 26 Mai 2011
Romanian Foreign Affairs Minister Teodor Baconschi said Thursday on RFI he hopes that, during the Council of Justice and Home Affairs to take place this fall, all member states will agree on a clear date for Romania’s Schengen entry in the second half of the year.

Romanian Govt To Up Clunkers Program Budget By 60,000 Scrapping Vouchers

08:22, 26 Mai 2011
Romania’s Government will supplement the budget for the country’s cash for clunkers program by 60,000 scrapping vouchers, Environment Minister Laszlo Borbely said Wednesday, at the end of the Cabinet meeting.

Romanian Govt Postpones Decision On Car Tax Changes

20:21, 25 Mai 2011
Romania’s Government has postponed a decision to change the car tax and will first draw up an impact analysis and discuss the matter within the ruling coalition, people close the matter told MEDIAFAX Wednesday.

Romania’s Budget Posts RON829M Surplus In April

19:08, 25 Mai 2011
Romania’s consolidated budget posted a surplus of 829 million lei (EUR200.1 million) in April, fueled by higher revenue, while the budget deficit for the first four months of 2011 narrowed to RON4.4 billion, the Finance Ministry said Wednesday.

Romanian President Traian Basescu Boycotts Warsaw Summit

17:24, 25 Mai 2011
Romania President Traian Basescu will not participate in the summit of Central and Eastern European countries to take place in Warsaw between May 27 and May 28, as Poland has decided to invite “an entity” Romania does not recognize as state, the president's spokesman, Valeriu Turcan, said Wednesday.

Romanian Government Ups Staff Spending By 5% In Election Year 2012 – Bill

15:13, 25 Mai 2011
The Romanian Government will increase staff spending by 5% in election year 2012, above the cap set for this year, to 42.59 billion lei (about EUR10.33 billion) or 7.2% of the gross domestic product, one percentage point above inflation and economic growth estimates.

Romania Central Bank Sees Rising Capital Inflows On Medium-Term

14:45, 25 Mai 2011
Romania is likely to begin a new economic cycle, when massive capital inflows could trigger a higher volatility of the exchange rate, central bank governor Mugur Isarescu said Wednesday.

Romanian Tourism Still In Crisis – Industry

14:12, 25 Mai 2011
Romania's tourism sector has not recovered from the crisis and the number of tourists who stayed in Romanian hotels was 20% lower in the first three months of this year, compared to the same period last year, said hotel and tour agency representatives in a conference on Wednesday.

Romania Ctrl Bk Head: Pension Cuts Preferable To VAT Rate Increase

13:55, 25 Mai 2011
Lowering pensions would have been a better fiscal measure than increasing the value added tax rate and Romania would have emerged from recession sooner, central bank governor Mugur Isarescu said Wednesday.

Romania Ctrl Bk: There’s No Predetermined Economic Growth Model

13:32, 25 Mai 2011
The economic growth model is not predetermined, but is based on the decisions of private investors and on macroeconomic policies, Romanian central bank governor Mugur Isarescu said Wednesday.

Romania April Private Lending -0.3% On Month To RON204.6B

13:12, 25 Mai 2011
Romanian private lending fell 0.3% in real terms to 204.6 billion lei (EUR49.6 billion) in April from a month earlier, and was down 5.7% on the year, central bank data showed Wednesday.

Almost 250,000 New Work Contracts Signed In Romania In May – Labor Min

10:24, 25 Mai 2011
Romanian acting Labor Minister Emil Boc said Wednesday that almost 250,000 new work contracts have been signed this month, bringing the total to more than the number of active contracts at the end of 2008, before the economic crisis.

Italian PM Berlusconi To Visit Romania For Inter-Govt Meeting Next Week

19:05, 24 Mai 2011
Italian Prime Minister Silvio Berlusconi is expected to come to Bucharest next week for a meeting with Romanian Prime Minister Emil Boc and an inter-government reunion, attended by ministers from the two cabinets, people close to the matter told MEDIAFAX.

EC Opens In-Depth Investigations Into State Aid To Romanian Air Transport Sector

16:14, 24 Mai 2011
The European Commission has opened two in-depth investigations under EU state aid rules into a Romanian support scheme for investments in regional airports and to ascertain whether certain rebates and discounts granted by the Timisoara airport to some airlines distort competition.

Romanian Bankers See Rates On Leu, Euro Loans At Close Levels In 18 Months

16:09, 24 Mai 2011
The gap between interest rates on Romanian leu- and euro-denominated loans is likely to narrow in the next 18 months, provided the cost of domestic currency lending will continue its downward trend, the head of Romanian Banking Association (ARB) said Tuesday.

Romania To Cut Customs, Financial Guard Jobs By Third

15:50, 24 Mai 2011
Romania's Finance Ministry wants to cut 2,140 jobs in the National Customs Authority and the Financial Guard, according to two draft government decisions.

Romanian Interior Min Layoff Bill Fails To Pass Lower House

14:21, 24 Mai 2011
The bill on layoffs in the Romanian Interior Ministry received too few votes in the Chamber of Deputies and did not pass, to the satisfaction of the union members watching the meeting, who cheered and applauded.

Romanian Govt Considers Reducing VAT On Construction Materials – Official

13:58, 24 Mai 2011
Romania's Government is considering reducing the VAT on construction materials, National Housing Agency (ANL) official Romeo Dragan said in a conference hosted by business daily Ziarul Financiar.

Romanian Education Min Extends Winter, Spring Breaks This School Year

13:33, 24 Mai 2011
The 2011-2012 school year will not include a break between semesters but the winter and spring breaks will be extended by one week each, Education Minister Daniel Funeriu said Tuesday.

Romanian Public Servants Won RON530M In Back Pay Through Rulings In 2011

17:40, 23 Mai 2011
Romanian public sector employees won salary rights in the amount of 530 million lei (EUR128 million) through court decisions in the first four months of 2011, which will be paid by the government in installments until 2014, according to a draft emergency ordinance.

Romanian Railway Co CFR Marfa Reduces Work Schedule By Two Days Per Month

17:11, 23 Mai 2011
Romanian railway company CFR Marfa has reduced the number of working days by two for every 30, effective May 23, and will cut 3,000 jobs through collective layoffs starting in July, says a press release.