English

Romanian Govt Approves Public Sector Wage Bill

18:29, 24 Nov. 2010
The Romanian Government approved in its meeting Wednesday the IMF-required unitary wage law for the public sector in 2011, people close to the matter told MEDIAFAX.

Romania Constitutional Court Says Govt May Adopt Education Bill Through Confidence Vote

17:30, 24 Nov. 2010
Romania’s Constitutional Court on Wednesday ruled the Government may adopt the country’s education bill through a confidence vote in Parliament, people close to the matter said.

IMF Confident Romania Won’t Enact Income Tax Cut

16:21, 24 Nov. 2010
The International Monetary Fund Wednesday expressed concerns over Romanian Senate’s recent vote to lower the income tax rate to 10% from 16%, saying it expects the authorities will ensure the “unfunded” tax cut will not be enacted.

Romanian Fiscal Council Says Lower Flat Tax To Endanger Deficit Targets

14:44, 24 Nov. 2010
Romanian parliament-appointed Fiscal Council Wednesday criticized the Senate’s decision to lower the flat tax rate to 10% from 16% currently, saying the measure would endanger the medium-term budget deficit targets.

Romania Ctrl Bank: Investors Get Agitated If Public Debt Tops 40% Of GDP

14:06, 24 Nov. 2010
Romania must keep its foreign currency reserves at sufficiently high levels, because investors get “agitated” every time the public debt exceeds 40% of a country’s gross domestic product, central bank governor Mugur Isarescu said Wednesday.

Romania October Private Lending Falls 1.1% On Month

14:03, 24 Nov. 2010
Romanian private lending fell 1.1% in real terms to 206.8 billion lei (EUR1=RON4.3079) in October from the month earlier, central bank data showed Wednesday.

Romania Ctrl Bk Gov: Foreign Debt Caused By Population Overborrowing, Not Banks

13:29, 24 Nov. 2010
Romanian central bank governor Mugur Isarescu Wednesday defended local creditors, saying the lenders only attracted external financing to respond to consumer overborrowing.

Romania To Increase Car Pollution Tax By Up To 50% As Of Jan 1, 2011 – Minister

12:37, 24 Nov. 2010
Romanian Environment Minister Laszlo Borbely on Wednesday said the car pollution tax will be hiked by 25% up to 50% starting January 1, 2011, in order to stop imports of polluting used cars into Romania.

Romanians May Choose To Repay Loans In Equal Or Decreasing Installments

20:47, 23 Nov. 2010
Romanians will have the option of repaying a loan in installments of equal or of decreasing value, with the latter chose reducing the total cost of the loan, but limiting the borrowed amount.

Romanian PM Sacks Two Police Officials Amid Corruption Scandal – Sources

16:37, 23 Nov. 2010
Romanian Prime Minister Emil Boc on Monday signed the decisions discharging the Romanian Police head Petre Toba and Interior Ministry state secretary Dan Valentin Fatuloiu, following two controversial corruption scandals, sources close to the matter told MEDIAFAX.

Romanian Senate To Debate Education Bill Monday

15:02, 23 Nov. 2010
Romania’s Senate will debate the education bill, in the form endorsed by the education committee, in plenary meeting Monday, the Senate’s standing office decided Tuesday.

EC Asks EP To Withdraw Funds Destined For Romania, Bulgaria – Bulgarian MEP

14:09, 23 Nov. 2010
The European Commission has asked the European Parliament to withdraw funds earmarked for Romania and Bulgaria, because of their inability to absorb, said Bulgarian MEP Ivaylo Kalfin, cited by Bulgaria's Focus news agency.

Romanian Govt Based 2011 State Budget On 16% Flat Tax, Doesn’t Endorse Lower Tax

13:50, 23 Nov. 2010
Romanian Finance Minister Gheorghe Ialomitianu said Tuesday after the Senate voted to lower the flat tax on income to 10% from 16% that the Government is drafting the state budget for next year based on the 16% rate.

Romanian Parliament Ratifies IMF Letter Of Intent Signed In June

13:35, 23 Nov. 2010
Romania’s Senate Tuesday adopted with 55 votes in favor and 49 votes against the draft law ratifying the Government's letter of intent to the stand-by agreement between Romania and the International Monetary Fund (IMF).

Romanian Senate Adopts Bill Setting Flat Tax At 10%

12:39, 23 Nov. 2010
Romania’s Senate adopted Tuesday with 45 to 31 votes and eight abstentions a draft law drawn up by ruling democrat liberals, which reduces the flat tax to 10%, from 16%.

Romanian Opp Lawmakers Keep Boycotting Lower Chamber Works

11:40, 23 Nov. 2010
Romanian opposition social democrat and liberal lawmakers Tuesday left Chamber of Deputies plenary meeting again, protesting against Speaker Roberta Anastase.

Romanian Leu Falls Vs Euro On Bad International Sentiment

11:21, 23 Nov. 2010
The Romanian leu opened Tuesday’s session in a visibly weakened state, amid negative regional sentiment brought about by fears that Ireland’s bailout package will not stop other debt-ridden euro-zone states from plunging into crisis.

Romanian Economic, Social Council Fails To Issue Stance On Wage Bill As Unions Boycott Meeting

11:20, 23 Nov. 2010
Romania’s Economic and Social Council Tuesday lacked the required quorum to adopt a stance on the country’s IMF-required unitary wage bill after unionists boycotted the council’s plenary meeting.

Romanian President Denies Any Quarrel With France’s Sarkozy

10:15, 23 Nov. 2010
Romanian President Traian Basescu denied Monday evening any tension between him and French President during the NATO summit in Lisbon over the weekend.

HBO Romania Documentary Wins Emmy Award

09:21, 23 Nov. 2010
The documentary "The World According to Ion B.," produced by HBO Romania and directed by Alexander Nanau, won the "Arts Programming" award of the 2010 International Emmys, Nanau told MEDIAFAX.

Romanian Lower Chamber Committee Sets Retirement Age To 60 For Women, 64 For Men

19:15, 22 Nov. 2010
The opposition parties in the Romanian Chamber of Deputies' committee for labor voted Monday in favor of setting the standard retirement age to 60 for women and 64 for men.

Romania’s 10-Mo Car Output At 2009 Level

19:06, 22 Nov. 2010
Romania’s car output reached 290,504 units in the first ten months of 2010, close to the level registered in 2009, when the local car output reached 296,458 units, according to data from the Automotive Manufacturers and Importers Association, or APIA.

EXCLUSIVE: Romanian Govt To Introduce Fiscal Incentives For Electric Car Production, Purchase

17:36, 22 Nov. 2010
Romania's Government will introduce a financial incentive package to encourage purchases of electric cars through an "ecologic bonus" for consumers and through tax deductions or state aid for producers.

Teaching Of History, Geography In Minority Languages Eliminated From Romanian Education Bill

13:05, 22 Nov. 2010
The Romanian Senate’s education committee has proposed to eliminate from the country's education bill the provision setting that history and geography will be taught in national minorities' languages in secondary schools and high schools with minority language teaching.

Romania To Set Unemployment Aid At 75%- 90% Of Reference Social Indicator Of RON500

12:52, 22 Nov. 2010
Unemployment aid in Romania could be set at 75% to 90% of the country’s reference social indicator, which is currently at 500 lei (EUR1=RON4.2972), people close to the matter said Monday, adding the measure is to be discussed by the Government.

Staff Shortage Hurts Romanian Healthcare System More Than Lack Of Funding

12:42, 22 Nov. 2010
The Romanian healthcare system is confronted with a major crisis in terms of human resources, said Monday Lucian Duta, head of the national Health Insurance House (CNAS), adding this problem is bigger than insufficient funding.

Romania Govt Reconsiders Lump Sum Tax – Sources

11:54, 22 Nov. 2010
Romania's Government has reconsidered plans to levy a lump sum tax on companies as of 2011 and is contemplating the reintroduction of a 3% income tax for micro-companies, people familiar with the matter told MEDIAFAX Friday.

Romanian Govt Postpones Approving Wage Law For Wednesday Over Lack Of OK From Econ Council

10:26, 22 Nov. 2010
Romania’s Government will not discuss the IMF-required unitary wage law Monday because it has not yet received a stance form the country’s Economic and Social Council and has postponed its approval for Wednesday, said spokeswoman Ioana Muntean.

Romanian Govt Holds Cabinet Meeting Monday To Approve Wage Law

09:52, 22 Nov. 2010
Leaders of Romania’s ruling coalition have assembled for a meeting at the Government’s headquarters in Bucharest Monday morning ahead of a Cabinet meeting to approve an IMF-required wage law for the public sector.

Romanian Soprano Roxana Briban Dead In Suicide

17:06, 21 Nov. 2010
Romanian soprano Roxana Briban committed suicide Saturday afternoon at her home in Bucharest, her husband Alexandru Briban told MEDIAFAX, adding that she had had a breakdown after being fired from the Bucharest National Opera in 2009.

Romanian Medicine Graduates Who Fail Intern Exam May Enter System With Limited Duties

16:12, 21 Nov. 2010
Romanian Health Minister Attila Cseke said Sunday that medicine graduates who have failed the internship exam may be allowed into the system with limited duties, in order to cover the personnel shortage.

EXCLUSIVE: Romanian Govt To Improve EU Fund Absorption Via Well-Paid Experts, Exacting Contracts

15:41, 21 Nov. 2010
Romania's Government has developed a plan to improve community fund absorption, which includes a hiring thaw, high salaries in managing bodies and strict requirements for EU contracts, due to concerns that the funds may be withdrawn by the European Commission in 2012 without such a program.

Future Romanian Social Code To Reduce No Of Social Benefits, Recipients

13:00, 20 Nov. 2010
Romanian Labor Minister Ioan Botis said Friday that the Social Code, currently being drafted by the Government, will reduce the number of social benefits and of their recipients.

Romanian Businessman Caught Offering Bribe To High Official

18:57, 19 Nov. 2010
Romania's National Anticorruption Directorate (DNA) on Friday caught a businessman in the act of offering a EUR50,000 bribe to Interior Ministry state secretary Dan Fatuloiu, in exchange for solving a series of cases in his favor, said people close to the matter.

Romania’s Child-Rearing Benefits Might Return To 85% Of Parent’s Avg Income

18:39, 19 Nov. 2010
Romanian Labor Minister Ioan Botis on Friday said child-rearing benefits might return to 85% of the parent’s average net income for the previous year, the level in June 2010, before the 15% cut imposed by the Government.

U.S. Constructor Bechtel Sets Off Massive Layoff Procedures On Transylvania Hwy Site

14:54, 19 Nov. 2010
U.S. Bechtel, the company building Romania’s Transylvania Highway, on Friday said it informed unionists of its plan to sack over 800 employees working on the highway, arguing the construction area is not ready for further works and the Romanian state has not paid its debts for works in 2010.

Romanians To Receive Child-Rearing Benefits For Less Time – Labor Min

13:41, 19 Nov. 2010
Romania might provide child-rearing benefits for a shorter period of time, though in the same amount, said Labor Minister Ioan Botis on Friday.

EXCLUSIVE: Romania Unemployment Aid No Longer Tied To Min Wage In 2011

13:24, 19 Nov. 2010
Romania’s Government has committed to the IMF to no longer tie unemployment aid to the minimum wage to avoid having to raise it along with the wage hike planned for 2011, according to the Government’s letter of intent.

Employees Of Romania Daewoo Mangalia Shipyard End Strike After Nearly 6 Weeks

10:58, 19 Nov. 2010
Employees of Romania’s Daewoo Mangalia Heavy Industries (DMHI) shipyard went back to work Friday after nearly six weeks of strike over a new collective work contract and higher pay

Romanian Unions Say 15% Raise In Public Sector Wages In 2011 Won’t Cover Inflation

20:43, 18 Nov. 2010
Romanian union leader Simion Hancescu on Thursday said the 15% raise in public sector wages announced by the Government for 2011 doesn’t mean a recovery of this year's 25% pay cut, as the 15% wage raise won’t cover the inflation rate and the elimination of the 13th salary, which total 16%.