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Romanian Employees Penalized For Indiscipline To Be Rehabilitated After 12 Mos

17:42, 28 Feb. 2011
Romanian employees who committed disciplinary infractions will be rehabilitated after a period of twelve months, according to an amendment to the Labor Code approved by the Government Monday.

Employers Using Illegal Labor To Face 1-2 Years In Prison – Amended Romanian Labor Code

16:58, 28 Feb. 2011
Employers using more than five people without work contracts will be punished by 1-2 years in prison or a criminal fine, will be denied state aid and EU funds and will be forbidden from taking part in public procurement auctions, says the amended Romanian Labor Code.

Romanian Employers May Not Put Employees On Unpaid Leave During Periods Of Reduced Activity

16:58, 28 Feb. 2011
The Romanian Government on Monday eliminated from the draft Labor Code a provision whereby companies which reduce or temporarily cease their activity may put their employees on unpaid leave, with the prior notice of the local union.

Romanian Govt To Seek Conf Vote For Labor Laws On March 8

15:50, 28 Feb. 2011
Romania’s Government will seek a confidence vote in Parliament to pass new labor legislation next Tuesday, March 8, and amendments to the bill are expected until Friday evening, said Senate vice-president Ioan Chelaru after the Parliament’s standing office meeting.

Romania’s January Annual Inflation, Highest In EU

13:33, 28 Feb. 2011
Romania posted the highest inflation in the European Union for the sixth consecutive month in January, while the EU average rate was stable at 2.7%, official data showed Monday.

Romanian Ruling Coalition Might Sign Collaboration Protocol Wednesday

12:37, 28 Feb. 2011
Romanian ruling coalition parties will most likely sign a collaboration protocol on Wednesday, Prime Minister Emil Boc said Monday.

Romanian President Attends Celebrations Of Kuwait’s Independence

16:57, 26 Feb. 2011
Romanian President Traian Basescu attended Saturday in Kuwait celebrations of the country’s 50-year anniversary of its independence and 20 years of freedom from Iraqi occupancy.

Romania’s Hungarian Minority Party Leader Says Territorial Autonomy Should Be Top Priority

15:07, 26 Feb. 2011
The outgoing leader of Romania’s Hungarian minority party UDMR said Saturday territorial autonomy for ethnic Hungarians has remained one of his unmet objectives and should be the party’s top priority in the coming years.

Mobile Op Cosmote Invested Almost EUR1B In Romanian Operations Over 5 Yrs

18:57, 25 Feb. 2011
Greek group Cosmote has invested almost EUR1 billion in Romania since its launch in December 2005, growing from 0.4% to a 24% market share, while revenue reached EUR468.6 million at the end of 2010.

Romanian Detained Customs Office Chief Confesses To Taking Bribes

16:57, 25 Feb. 2011
Cornel Costea, head of the customs office in Ploiesti, southern Romania, who has been placed under 29-day preventive arrest for corruption on Friday morning, confessed to taking bribes.

Romanian Govt, Unions Reached No Compromise On Labor Code – Union Leader

15:22, 25 Feb. 2011
Talks between the Romanian Government and labor unions on the Labor Code have failed, because of the labor minister's inflexibility and the Executive's attempt at manipulation, union leader Bogdan Hossu said Friday, adding that protests will continue.

Unions At Romanian ArcelorMittal Galati To Hold Strike On Mar 10

15:03, 25 Feb. 2011
Four trade unions at Romanian steel processor ArcelorMittal Galati on Friday announced a general strike starting March 10, displeased with the proposed 8% wage hike countering their 18% demand.

Romanian Econ Min: Nuclear Proj Not Dependent On Foreign Partners

15:00, 25 Feb. 2011
Romania’s planned EUR4 billion nuclear project in Cernavoda will go on with or without new foreign partners, Economy Ministry Ion Ariton said Friday, a few weeks after three key investors have decided to withdraw from the project.

Romania’s BCR 2010 Net Profit Falls 47% To RON465M

09:42, 25 Feb. 2011
Romanian leading bank group Banca Comerciala Romana (BCR) Friday reported a 46.7% drop in its net profit after minorities and taxes to 465 million lei (EUR1=RON4.2331) in 2010, hurt by rising provisions and lower revenue from fees.

Romanian Govt To Seek Confidence Vote On New Labor Laws Next Week

09:33, 25 Feb. 2011
Romania’s Government will seek a confidence vote in Parliament to adopt new labor legislation next week, Prime Minster Emil Boc said on public television Thursday evening.

Fifty-Six Romanians, Foreigners Evacuated From Lybia Aboard Romanian Plane

09:07, 25 Feb. 2011
One of the two military aircrafts Romania sent to evacuate its citizens from Libya landed safely in Bucharest Friday morning, carrying 56 Romanians and foreign nationals on board

Romania Must Analyze Whether Euro Adoption Still Possible In 2015 – Pres

20:27, 24 Feb. 2011
Romanian President Traian Basescu said Thursday that authorities should analyze whether it is still possible for Romania to adopt the euro in 2015, as the Eurozone can no longer support weak economies.

JP Morgan: Romanian GDP Likely To Grow 2% In 2011

19:07, 24 Feb. 2011
Romanian economy is on its way to wake up from over two years of “hibernation” in 2011, aided by growing exports, good reforms and a vital bailout program led by the International Monetary Fund and the EU, according to a report from JP Morgan Chase Bank.

Romanian Anticorruption Department Indicted 402 Public Officials In 2010

14:45, 24 Feb. 2011
Romania’s National Anticorruption Department indicted 402 people holding public office or management positions last year, including a former prime minister, three former ministers and three lawmakers.

Romania Among Poorest Regions In EU – Eurostat

14:27, 24 Feb. 2011
Six Romanian administrative regions, making up the entire country except the area around the capital, rank among the poorest regions in the European Union, according to Eurostat.

Romanian Govt To Make Labor Legislation More Flexible At Any Cost

13:57, 24 Feb. 2011
Romania’s Government will create a more flexible Labor Code even at the risk of being ousted, Andreea Paul Vass, adviser to Prime Minister Emil Boc, said Thursday.

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.