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EXCLUSIVE: Amended Romanian Labor Code Lengthens Employment Trial Period

16:29, 29 Nov. 2010

The trial period for new employees will be extended and the labor contract may be terminated without notice during that time, or at the end of the period, says the draft amending Romania's Labor Code, obtained by MEDIAFAX.

Romanian Opp Liberals Decide To Attend Parliament Plenary Meetings Debating Key Bills

14:53, 29 Nov. 2010

The Romanian opposition Liberal Party decided Monday that liberal lawmakers will participate in all Parliament plenary meetings which will debate major public interest bills, such as the education bill, the unitary wage bill and the draft state budget law for 2011.

Opp Leader Says 2011 Draft Budget Prevents Romania From Meeting NATO Commitments

14:26, 29 Nov. 2010

Romanian opposition Social Democratic Party president Victor Ponta said Monday that Romania will not be able to meet its commitments as NATO member state if the draft state budget for 2011 is adopted in the form proposed by the Government.

ING: Romania Likely To Miss 2011 Deficit Target

13:16, 29 Nov. 2010

Romania has set “ambitious” targets for its 2011 budget, but chances are the government will miss its deficit cap of 4.4% of gross domestic product, because of weaker-than-expected economic performance.

Bucharest Dwelling Prices Deter Clients From Purchase – Coldwell

12:30, 29 Nov. 2010

The price of homes in Bucharest remains high compared to demand expectations, limiting the number of real estate transactions, according to real estate consultancy company Coldwell Banker Affiliates of Romania.

Romanian Leu Opens Stronger Vs Euro, Recovers Previous Weakness

11:30, 29 Nov. 2010

The Romanian leu opened Monday’s session slightly stronger against the euro, compared to Friday’s closing values, while dealers in the market suspect central bank intervention.

Romania Cos Expect Slight Decline In Industry, Retail In Nov-Jan

10:59, 29 Nov. 2010

Romanian managers said they expect slight decreases in on the industrial and retail segments, a sharp drop in construction and relative stability in services between November 2010 and January 2011, the National Institute for Statistics, or INS, said Monday.

Romanian George Pistereanu Wins Best Actor Award At Stockholm Film Festival

15:57, 28 Nov. 2010

Romanian 21-year-old actor George Pistereanu Saturday evening was awarded best actor at the Stockholm International Film Festival, for his leading role in "If I Want to Whistle, I Whistle", the debut feature film of director Florin Serban.

About Half Of Romanian Big, Medium Cos Submitted October Fiscal Statements Online

13:09, 28 Nov. 2010

About 45% of Romanian big and medium companies submitted their October fiscal statements online by November 25, said the country’s fiscal authority ANAF.

Romania In No Danger Of Catastrophic Earthquake At Least Until 2030 – Earth Physics Institute

17:36, 26 Nov. 2010

Romania might be shaken in the upcoming period by small earthquakes of magnitudes below seven degrees, which are not at all dangerous, said Gheorghe Marmureanu, head of the Romanian Institute for Earth Physics, adding there will be no catastrophic earthquake in Romania at least until 2030.

Bread Price In Romania To Hike Over 15% In February

15:33, 26 Nov. 2010

The price of bread in Romania will increase by over 15% as of February, after a 10% hike over the past four months, driven by wheat imports, Aurel Popescu, head of the Rompan employers association in the bread industry, told MEDIAFAX Friday.

EXCLUSIVE: IMF Ready To Increase Aid To Romania If Need Arises

14:51, 26 Nov. 2010

Romania is unlikely to experience significant spillover from European countries that face difficulties, as the authorities are taking steps to ensure against risks under the form of a new loan agreement with the International Monetary Fund, an IMF official said.

Romania Leu Widens Losses Vs Euro, Exch Rate Hits 5-Mo Low At 4.3137

14:26, 26 Nov. 2010

Romania’s leu extended early losses against the euro in mid trade Friday and the central bank’s reference lost 0.3% on the day to 4.3137 units, the weakest rate since early July.

EXCLUSIVE: Romania Takes Significant Steps To Exit Crisis, IMF Says

14:17, 26 Nov. 2010

Romania has taken important steps to reduce its budget deficit and bring the economy back on track, which puts the country in a less riskier position compared with some of the economies in the euro area, said Jeffrey Franks, head of the International Monetary Mission to Bucharest.

Romanian Police Salaries To Be Reduced By 4.5% In 2011 – Union

14:07, 26 Nov. 2010

Salaries in Romanian police departments, cut by 25% in July, will be reduced by a further 4.5% next year, as the holiday bonus and yearly bonus will be eliminated, "Pro Lex" union president Vasile Lincu said Friday.

Romanian Banks Lack Trust To Resume Lending, Not Money – Ctrl Bker

13:25, 26 Nov. 2010

Romanian lenders are ready to resume lending “right now,” as they have sufficient liquidity, but they lack confidence in the economy, a central bank official said Friday.

Romanian Mothers Who Return To Work Before End Of Maternity Leave May Get Extra RON500

12:39, 26 Nov. 2010

Romanian mothers who return to work at any time before the end of the two-year maternity leave might receive an indemnity of 500 lei (EUR1=RON4.2996), Labor Minister Ioan Botis said Friday.

Romanian 2011 Economic Growth Closer To Zero – Ctrl Bker

10:26, 26 Nov. 2010

Fiscal slippages and political uncertainty may keep Romanian economic growth closer to zero in 2011, despite official forecasts that point to an advance of 1.6%-2%, a central bank official said Thursday.

Romanian Govt Might Deny Aid To Unemployed People Who Turn Down A Job Offer Twice

20:34, 25 Nov. 2010

People on unemployment who are counseled by an employment agency advisor and turn down a job offer twice will no longer receive aid, Prime Minister Emil Boc said Thursday.

Romanian Govt Might Withhold Subsidies, Levy Taxes On Owners Of Untilled Land

20:05, 25 Nov. 2010

Romania's Government will withhold subsidies or levy higher taxes on uncultivated land, to determine owners to sell, rent, lease or work the land, Prime Minister Emil Boc said on Thursday.

Price Of Heating In Romania Up 10% On Year – Regulator

19:41, 25 Nov. 2010

Heating in Romania will cost around 10% more this winter compared to last year, according to the prices announced by local authorities, but the new price is already in effect, having been increased after the VAT was set to 24%, from 19%.

Fmr Romanian Envoy To Singapore To Be Released From Prison

19:17, 25 Nov. 2010

Former Romanian envoy to Singapore Silviu Ionescu will be released Thursday evening from prison, after the Court of Bucharest accepted his request for his arrest to be replaced with a ban on leaving the country.

Romanian Foreign Minister Found Guilty Of Discriminatory Statements Against Roma

17:12, 25 Nov. 2010

Romania’s National Council Fighting Discrimination CNCD has found Foreign Affairs Minister Teodor Baconschi guilty of discriminatory statements regarding Roma people and crimes involving Roma and gave him a warning, people close to the matter told MEDIAFAX Thursday.

Romania, UK, Netherlands To Cooperate For Constanta Port’s Development – Transport Min

17:04, 25 Nov. 2010

Romanian Transport Minister Anca Boagiu met Thursday with the ambassadors of the United Kingdom and the Netherlands to talk about the port of Constanta, which Boagiu said could become Europe's second largest, after Rotterdam.

Romanian Fraud Convict Nicolae Popa To Be Deported Home In December

17:00, 25 Nov. 2010

Romanian fraud convict Nicolae Popa, sentenced to 15 years in prison for his part in defrauding 300,000 people in a massive Ponzi scheme, will be deported by Indonesian authorities in December, Jakarta Globe reported online Thursday, citing the National Police spokesman.

EXCLUSIVE: Romania To Set Unemployment Aid At 75% Of RON500 Reference Social Indicator

14:25, 25 Nov. 2010

Unemployment aid in Romania will be set next year at 75% of the national reference social indicator, which is currently 500 lei (EUR1=RON4.2996), and will no longer be tied to minimum wage, increased to RON670.

Romania Doesn’t Risk Default – Central Bank Head

14:22, 25 Nov. 2010

Romania is no danger to suspend its external payments, central bank governor Mugur Isarescu said Thursday, in reply to media reports about an imminent default following a statement made by the head of the International Monetary Fund.

Romania Credit Card Use Doubles In 2010 – GfK

14:09, 25 Nov. 2010

The number of Romanian credit card users doubled to 10% of the urban population in 2010 compared to the previous year, according to a survey by market research company GfK.

Romanian President Regrets Sending Pension Bill Back To Parliament For Reexamination

14:00, 25 Nov. 2010

Romania’s President Traian Basescu said Thursday he regrets he sent the country’s pension bill back to the Parliament for reexamination, as he gave lawmakers “the opportunity to play the fool and act irresponsibly”.

Bucharest Bourse Should Focus On Financing Cos – Ctrl Bk Head

13:06, 25 Nov. 2010

The Bucharest bourse needs to focus on its primary function, namely providing an alternative means of financing for Romanian companies, which would enable it to become a barometer of the real economy, central bank governor Mugur Isarescu said Tuesday.

Romanian President Says Govt Entitled To Seek Conf Vote For Education Reform

12:30, 25 Nov. 2010

Romania’s President Traian Basescu said Thursday he believes the Government’s move to push its draft education bill through the parliament is justified, adding the act really modernizes the education system.

EXCLUSIVE: Romania Cuts Unemployment Aid 10% For 2011, More Beneficiaries Expected

11:35, 25 Nov. 2010

The average unemployment aid in Romania next year will be 10% lower than this year, of 476 lei (EUR1=RON4.3079) from the current RON523, while unemployment aid for young graduates will be kept at RON300.

EXCLUSIVE: Romanian Govt Cuts VAT Funds For Local Budgets

10:24, 25 Nov. 2010

The Romanian Government will cut funds from VAT collections to be granted to local budgets and will halve the money allotted for infrastructure works and sport grounds, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.

EXCLUSIVE: Romanian Local Authorities Can’t Make New Investments If Old Projects Not Finished

09:13, 25 Nov. 2010

Romanian local authorities will be forbidden to finance new investment projects if they did not ensure funds to complete projects that have already been started, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.

EXCLUSIVE: Romanian State-Run Cos Must Freeze Employment, Limit Wage Spending In ‘11 – Draft Budget

09:12, 25 Nov. 2010

Romanian state-run companies and autonomous departments are compelled to freeze hiring next year so they do not exceed the number of employees allowed for 2010, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.

EXCLUSIVE: Romanian Freezes Pensions In 2011, Social Contributions – Draft Budget

09:11, 25 Nov. 2010

Romanian public system pensions, including minimum guaranteed pensions, will be frozen at they current level in 2011, and social security contributions will not decrease below the level set for this year, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.