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Lukoil, Vanco To Explore Two Offshore Blocks In Romania

12:43, 24 Feb. 2011
Russian Lukoil and US Vanco International have signed two concession agreements with Romania’s Mineral Resources Agency ANRM, for the exploration and development of two blocks in the Romanian sector of the Black Sea.

Romania Expects Schengen Accession Calendar From Eu’s Hungarian Presidency

12:38, 24 Feb. 2011
Romanian Prime Minister Emil Boc told European Council President Herman Van Rompuy Thursday Romania is expecting the EU’s Hungarian presidency to set a calendar for the country’s Schengen accession, adding the country has secured its borders.

Romanian Insurance Mkt Down 5.7% In 2010, To RON8.36B

11:15, 24 Feb. 2011
Romania’s insurance market declined 5.7% on the year in 2019, to 8.36 billion lei (EUR1=RON4.2261), the second year of decline, according to preliminary data released by the country’s insurance watchdog CSA.

Orange Romania Revenues Dn 7.8% To EUR973M In ‘10

10:52, 24 Feb. 2011
Telecom operator Orange Romania’s revenues dropped 7.8% last year, to EUR973 million, the company said in a press release Thursday.

Romanian OMV Petrom Prepares To Raise Fuel Prices – CEO

09:53, 24 Feb. 2011
Romania's largest oil company OMV Petrom (SNP.RO) will raise its fuel prices in the coming days, following the increase of international crude oil quotations as a result of social and political tensions in the Middle East and North Africa.

EBRD Sells Interest In Romania’s BRD For RON454.7M

20:49, 23 Feb. 2011
The European Bank for Reconstruction and Development on Wednesday sold its stake in Romania's second-largest bank BRD-Groupe Societe Generale (BRD.RO) for 454.7 million lei (EUR1=RON4.2261), in several deals on the Bucharest stock exchange.

Romania Faces No Flu Epidemic Threat – Health Minister

17:38, 23 Feb. 2011
Romanian Health Minister Attila Cseke said Wednesday there is no risk of an epidemic of influenza in Romania, although the number of flu cases has increased.

Romania Has Worst Housing Conditions In EU – Eurostat

14:48, 23 Feb. 2011
Romania has the worst housing conditions among European Union countries, as over 40% of the population lives in dwellings with no indoor flushing toilets, bath or showers, according to the EU’s statistics office Eurostat.

Romania Dec ’10 Indus Orders Rise At 4th Fastest Pace In EU

14:46, 23 Feb. 2011
Romanian industrial new orders rose 42.3% on the year in December 2010, the fourth biggest increase in the European Union, official data showed Wednesday.

Romanian Cos May Pay Debts To State In Installments Over Five Years

14:46, 23 Feb. 2011
Romanian companies will be able to pay their debts to the state in installments over five years, without overdue penalties, as per a facility to be introduced through a government ordinance, said tax authority ANAF official Mihai Gogancea-Vatasoiu.

Romania Absorbed EUR1.9B In EU Funds, 10% Of Total Allowance

13:40, 23 Feb. 2011
Romania had absorbed EUR1.9 billion in EU structural funds, excluding agriculture, by the end of 2010, accounting for only 10% of the total funds available for the period 2007-2013, Finance Ministry official Bogdan Dragoi said Wednesday.

Central European Media Enterprises’ Net Profit Hit $100.1M In 2010

13:01, 23 Feb. 2011
Central European Media Enterprises (CME), specialized in broadcast, content and new media in Central and Eastern Europe, reported a net profit of $100.1 million last year, after losses amounting to $97.1 million in 2009.

Romanian Senate Tacitly Adopts Child-Rearing Benefit Decree

12:48, 23 Feb. 2011
Romania’s Senate adopted tacitly Wednesday an emergency decree regulating child-rearing benefits, which have been differentiated depending on the duration of maternity leave.

Romania January Private Lending -1.5% On Month To RON207.8B

12:35, 23 Feb. 2011
Romanian private lending fell 1.5% in real terms to 207.8 billion lei (EUR1=RON4.23) in January from a month earlier, but was up 4.3% on the year, central bank data showed Wednesday.

Romanian Ctrl Bk: Stimulating Consumption, Bad Idea For Economy

11:45, 23 Feb. 2011
Romania’s economic growth should be based primarily on local production, rather than consumption, central bank governor Mugur Isarescu said Wednesday.

Foreigners Prefer To Buy Properties In Romania, Rather Than Rent Them – Survey

11:24, 23 Feb. 2011
Foreigners have started buying luxury residential properties in Romania rather than rent them, as real estate prices have gone down over the past two years, according to real estate agency Vission House.

Romania OMV Petrom Considers Paying Dividends From 2010 Profit

09:47, 23 Feb. 2011
OMV Petrom (SNP.RO), Romania’s largest oil company, Wednesday proposed paying dividends to its shareholders from the 2010 profit, following good financial results.

Romanian OMV Petrom Switches To RON779M Profit In Q4/2010

09:17, 23 Feb. 2011
Romanian leading oil company OMV Petrom (SNP.RO) Wednesday said it switched to a net profit of 779 million lei (EUR1=RON4.235) in the fourth quarter of 2010, fueled by higher prices for crude oil and increased sales.

Ten More Romanian Border Police Officers Placed Under Arrest

08:35, 23 Feb. 2011
The Bucharest Court of Appeals has issued 29-day preventive arrest warrants for ten more border police officers from Albita customs in eastern Romania detained Monday on charges of bribe taking and cigarette smuggling.

Romanian IT Exports Up 10% In 2010, To EUR500M

16:19, 22 Feb. 2011
Romanian exports of IT products and services grew 10% in 2010, to around EUR500 million, said Valerica Dragomir, executive manager of the Software and Services Industry Employers' Association (ANIS).

Romanian Tax Authority To Start Checking High Wealth Individuals In 2012

14:40, 22 Feb. 2011
Sorin Blejnar, head of Romanian tax authority ANAF, said there will be a major investigation into high wealth in the second half of next year, although some controls may be carried out in 2011.

Romanian President Calls For Evaluation Of Interior Ministry Staff, Eliminating Corruption

14:26, 22 Feb. 2011
Romanian President Traian Basescu said Tuesday the Interior Ministry’s reorganization must start with the evaluation of the institution’s central and local chiefs.

Court Rules To Halt Insolvency Procedures Against Romanian Airliner Blue Air

14:08, 22 Feb. 2011
The Bucharest Court has halted insolvency procedures for low-cost Romanian airliner Blue Air, the company said Tuesday.

Romanian Opposition To Submit No-Conf Motion Over Labor Laws

12:45, 22 Feb. 2011
Romanian opposition social democrats and liberals will submit a no-confidence motion against the Government if the latter decides to pass the new Labor Code into legislation through a confidence vote in Parliament, Social Democratic Party leader Victor Ponta said Tuesday.

Romanian Court Places 15 Border Police Officers Under Arrest

10:39, 22 Feb. 2011
The Bucharest Court of Appeals has issued 29-day preventive arrest warrants for 15 of the 30 border police officers from Albita customs in eastern Romania detained Monday on charges of bribe taking and cigarette smuggling.

Romanian Unions To Start Protests Against Labor Code On February 28

19:28, 21 Feb. 2011
Romanian unionists are calling for a general strike to start on the day President Basescu receives the draft Labor Code and Social Dialogue Code, and will organize local protests starting with February 28.

Romanian President Warns Unsolved Corruption Cases Mean Unfavorable EC Report

18:25, 21 Feb. 2011
Romanian President Traian Basescu told a news conference Monday that, if the country fails to make progress in solving high-level corruption cases, the report on justice the European Commission will release this summer will be negative.

Romanians Can Apply For Micro-Business Start-Up Aid As Of Tuesday

16:52, 21 Feb. 2011
Romanians younger than 35 who want to start a micro-company can submit business plans starting Tuesday to a program supporting young entrepreneurs, and receive up to EUR10,000.

Romanian PM Says New Labor Laws Don’t Repeal Collective Work Contracts

12:04, 21 Feb. 2011
Romanian Prime Minister Emil Boc said Monday collective work contracts are not repealed through the country’s new Labor Code and will be regulated by a separate law.

Romanian Ruling Coalition Pushes For Confidence Vote To Adopt Labor Code

12:04, 21 Feb. 2011
Romanian ruling coalition leaders propose that the Government should seek lawmakers’ confidence vote to adopt new labor legislation, Prime Minister Emil Boc said Monday, adding the matter will be discussed with ruling parties’ MPs.

Fifty-Three Border Police In E Romania Brought In For Questioning

10:23, 21 Feb. 2011
Fifty-three border police officers, including the head of the local border police, from the Albita border crossing point in eastern Romania were taken in for questioning Monday following raids at the customs point and suspects’ homes.

Romanian Authorities Raid E Romanian Customs Point

08:23, 21 Feb. 2011
Romanian authorities raided Monday morning homes and offices of border police and customs workers in Albita customs, eastern Romania, where dozens are suspected of bribe taking and cigarette smuggling.

Romania’s New Labor Code To Create More Flexible Labor Mkt – PM

16:11, 20 Feb. 2011
Romania’s new Labor Code will create a more flexible labor market and will help Romanians find a job faster, Prime Minister Emil Boc said Sunday.

Romanian Housing Prices Down 10% In Jan ‘09-Sep ’10

13:45, 20 Feb. 2011
Romanian house and apartment prices dropped some 10% between January 2009 and September 2010, according to data released by the national statistics institute INS.

Romanian Subway Co Metrorex Awards Contract For Subway Sector Construction

13:42, 20 Feb. 2011
Romanian state-run subway company Metrorex awarded a EUR215 million construction contract for the Raul Doamnei-Hasdeu sector of Bucharest’s new subway mainline to a consortium made up of Astaldi (Italy), FCC (Spain), Delta ACM and AB Construct (Romania).

Romanian Govt Expects To Collect About RON2B From Car Pollution Tax In ’11

13:37, 20 Feb. 2011
The Romanian Government expects to collect about 2 billion lei (EUR1=RON4.2493) from the car pollution tax this year, up RON437.5 million compared to the sum estimated to have been collected in 2010 and triple compared to that collected in 2009.

Romania January Car Sales Up 16% On Year To 4,399 Units

17:33, 18 Feb. 2011
Romanian new passenger car sales rose 16% on the year, to 4,399 units in January, the Automotive Manufacturers and Importers Association, or APIA, said Friday.

EC Notes Romania’s Progress In Investigating High Level Corruption

15:33, 18 Feb. 2011
The Romanian Anticorruption Department (DNA) maintained “its convincing track record in investigating high level corruption”, but high-level corruption cases have seen little movement in court, according to the European Commission's interim report on Romania’s progress under the CVM.

Romania’s Romtelecom, Cosmote Could Merge Ahead Of Listing – Min

15:15, 18 Feb. 2011
Romania’s largest fixed line telephony operator Romtelecom and mobile telecom company Cosmote Romania could merge before the state starts procedures to list a 46% stake in Romtelecom on the Bucharest Stock Exchange, IT&C Minister Valerian Vreme said Friday.

Romanian Transport Min Says Cernavoda-Constanta Hwy Works To Be Completed Next Year

15:11, 18 Feb. 2011
Romanian Transport Minister Anca Boagiu said Friday the Cernavoda-Constanta segment of the Bucharest-Constanta Highway will be completed next year but the section will be open for traffic this year.