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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.

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.