English

Romanian Economy Ministry-Owned Cos Met Budget Targets – IMF

12:17, 21 Oct. 2010
The three companies controlled by the Romanian Economy Ministry under monitoring by the International Monetary Fund have met the personnel spending targets established, said Thursday Mihai Tanasescu, Romania's representative to the IMF.

Romania, IMF Discuss Oltchim Privatization

12:10, 21 Oct. 2010
Romanian authorities and representatives of the International Monetary Fund discussed Thursday about the privatization of Oltchim (OLT.RO) and Cuprumin, as well as stake sales in other state-owned energy companies, the Economy Ministry said in a statement.

IMF, Romania Agree On 2011 Budget Figures – Mission Head

18:16, 20 Oct. 2010
The International Monetary Fund and the Romanian authorities have already agreed on next year's budget parameters, Jeffey Franks, head of the IMF mission to Bucharest, said Wednesday.

Romanian Fraud Convict Ioana Maria Vlas To Be Released On Parole

17:10, 20 Oct. 2010
Romanian Ioana Maria Vlas, sentenced to ten years in prison for fraud, will be released on parole after a court in Prahova, southern Romania, on Wednesday overruled prosecutors’ request to keep Vlas under arrest.

Romania Budget Revenue Would Drop By RON700M With New Pension Tax Exemption Cap

16:17, 20 Oct. 2010
Exempting pensions lower than 2,000 lei (EUR1=RON4.3084) from income tax, as per a bill the Romanian Parliament passed Tuesday, would translate into budget revenues lower by RON700 million (EUR167 million).

Romanian Senate’s Legal Committee Agrees With Reexamination Of More Pension Bill Articles

16:15, 20 Oct. 2010
The Romanian Senate’s committee for legal matters decided Wednesday that more articles of the country’s unitary pension bill will be reexamined, besides the article indicated by President Traian Basescu in his reexamination request.

Romania’s Move To Cut VAT, Lift Pension Tax Calls For Careful Assessment – IMF

16:09, 20 Oct. 2010
Romanian parliament’s decision to cut the value added tax for basic food items and lift a 16% tax on small pensions must be “carefully” analyzed to establish its possible effects on the economy, said Mihai Tanasescu, Romanian representative to the International Monetary Fund.

Romanian Subway Co Metrorex To Organize Auction For Feasibility Studies To Build New Mainline

14:59, 20 Oct. 2010
Romanian state-owned subway company Metrorex wants to organize an auction for prefeasibility and feasibility studies for works on a new subway mainline which will link southwestern Bucharest neighborhood Rahova to northeastern Colentina, the company said in a press release Wednesday.

Romania Ranked Seventh Among States Prepared For Internet Applications Of Tomorrow

14:30, 20 Oct. 2010
Romania is ranked seventh among 14 states considered to be prepared for internet applications of tomorrow, such as HD internet protocol television and high quality video communications, which will be adopted on a widespread scale in the upcoming years.

Romania Leu’s Exch Rate Weakens To 4.3 Units Vs Euro

13:35, 20 Oct. 2010
The Romanian leu edged lower against the euro in mid trade Wednesday and the central bank’s reference lost 0.3% on the day at 4.3084 units, a fresh three-and-a-half months low.

Romania Most Pessimistic About Economy, Finances In Emerging Europe – Survey

13:28, 20 Oct. 2010
Romania is the most pessimistic country in Eastern Europe when it comes to consumer confidence and financial expectations, with the two indicators dropping from 120 points to less than 40 in the past two years, a survey from the International Monetary Fund showed.

Romanian Ruling Party Lawmakers Say They Voted For Lower VAT On Food, Tax-Exempt Pensions By Mistake

12:33, 20 Oct. 2010
Lawmakers of Romania’s ruling Democratic Liberal Party said Wednesday they voted in favor of two bills that lack government support by accident and will move to have them annulled.

Almost 200 Driving Instructors Protest In Bucharest Over Low Pay

12:02, 20 Oct. 2010
Almost 200 driving instructors are protesting Wednesday in Bucharest’s Constitutiei Square, displeased that driving training fees are cashed by the driving school, which subsequently pays them based on a service provision contract.

Romanian Parliament Assembles To Hear Opposition’s No-Confidence Motion

11:15, 20 Oct. 2010
Romania’s two chambers of Parliament have assembled in plenary meeting Wednesday to hear the opposition’s no-confidence motion, which is to be debated and put to the vote next Wednesday.

Romania, IMF To Analyze Raise In Minimum Wage

10:11, 20 Oct. 2010
Romanian authorities and the International Monetary Fund need to analyze a potential raise in the country’s minimum wage because such a move could hurt the economy, IMF mission head Jeffrey Franks said Wednesday ahead of talks at the Labor Ministry.

Over 50,000 Firms In Romania To Go Bankrupt If Minimum Wages Hiked – SMEs Council Head

20:04, 19 Oct. 2010
Romanian National Council of Private SMEs head Ovidiu Nicolescu said Tuesday that raising minimum wages will bankrupt at least 50,000 firms and will increase the number of unemployed people.

Deloitte C Europe Technology Fast 50 Chart Includes 7 Romanian Cos

18:29, 19 Oct. 2010
Romania ranks fourth, with seven companies, in the Deloitte Central Europe Technology Fast 50 chart, which tracks the evolution of IT company revenues in the 2005-2009 period.

Romanian Fin Ministry Employees Resume Protests Doubtful About Receiving Unpaid Bonuses

17:09, 19 Oct. 2010
About 100 employees of the Finance Ministry ceased activity Tuesday afternoon, as they doubt they would receive the wage bonuses promised by authorities, said National Public Servant Union (SNFP) leader Sebastian Oprescu.

Romanian Parliament Adopts Bill Speeding Up Trials

14:45, 19 Oct. 2010
Romania’s Chamber of Deputies adopted Tuesday with 279 to three votes and four abstentions a bill aiming to speed up trials in the country’s legal system.

Romanian Nat Pwr Holdings Setup Will Boost Energy Price – Survey

14:33, 19 Oct. 2010
The two Romanian national power holdings will take out small companies activating on the local energy market, and the result will be a continuous increase in energy prices for end consumers, according to a survey drawn up by the Politehnica University of Bucharest.

Romanian Gas Prices Should Not Go Up This Winter – Econ Min

14:20, 19 Oct. 2010
Romanian Economy Minister Ion Ariton told a press conference Tuesday that, in his opinion, natural gas prices should not grow this winter, on any consumer segment.

Romanian Unions Mull 50,000-People Rally In Bucharest During No-Conf Motion Debates

13:55, 19 Oct. 2010
Romania’s major union federations are planning a major rally in capital Bucharest on October 27, when Parliament is to debate the opposition’s no-confidence motion that aims to overthrow the Government over its austere measures.

Romanian PM Wants Wage Bonuses Granted On Performance Criteria Only

13:43, 19 Oct. 2010
Romanian Prime Minister Emil Boc said Tuesday that salary incentives must be granted in an objective and fair manner, based only upon performance criteria.

Romanian Lower House Adopts Decree On Incentives For State Employees

13:34, 19 Oct. 2010
Romania’s Chamber of Deputies Tuesday adopted a government emergency decree regarding the payment of bonuses and incentives in the public sector.

Agric Min Says Romania Will Export Wheat, Corn Of Almost EUR800M In 2010

13:16, 19 Oct. 2010
Romania will export this year over two million tons of wheat and a similar quantity of corn, at prices per ton ranging from EUR180 to EUR240, Romanian Agriculture Minister Valeriu Tabara told MEDIAFAX.

Romania Agric Min: Food Prices Can Go Down If Processors Reduce Profits, Retailers Lower Fees

12:02, 19 Oct. 2010
Romanian Agriculture Minister Valeriu Tabara said food prices could go down if food processors and stores forego part of their profit and retail chains lower their fees.

Romanian Senate To Re-Discuss Pension Law Early November

12:01, 19 Oct. 2010
The standing office of the Romanian Senate decided Tuesday the pension bill, which the head of state sent back to Parliament for reexamination, will be discussed in a plenary session early November.

EC President Jose Manuel Barosso To Attend Danube Summit In Romania On Nov 8

20:43, 18 Oct. 2010
European Commission President Jose Manuel Barosso will arrive in Romanian capital Bucharest, on November 8, to attend the third summit on the Danube Strategy, Viorel Ardeleanu, national coordinator on the Danube Strategy, said Monday.

Romanian Govt To Seek Confidence Vote In Parliament Over Education Bill On Oct 28

19:06, 18 Oct. 2010
The Romanian Government will seek a confidence vote in Parliament on October 28 to pass the country’s education bill, the standing offices of the Romanian Senate and Chamber of Deputies decided Monday.

Romanian Opposition’s No-Confidence Motion To Be Debated In Parliament On Oct 27

17:38, 18 Oct. 2010
The standing offices of the Romanian Senate and Chamber of Deputies decided Monday that the no-confidence motion submitted by opposition parties against the Government will be presented before the Parliament on October 20 and debated on October 27.

UniCredit Tiriac Bank Sees Romanian NPLs At 20% In 2010

17:22, 18 Oct. 2010
Romanian non-performing loans are likely to reach 20% of the total lending in 2010, according to estimates from UniCredit Tiriac bank.

Romania Targets Autonomy For Ethnic Minorities, Not Regional Autonomy – President Basescu

16:18, 18 Oct. 2010
Romanian President Traian Basescu said Monday, during a joint press conference with Hungarian President Pal Schmitt, that Romania does not target "a regional autonomy, but the autonomy of ethnic minorities in relation with the Romanian Government".

Romania Agrees With Hungary’s New Citizenship Law – President Basescu

15:22, 18 Oct. 2010
Romanian President Traian Basescu said Monday that Romania has no objections to the Hungarian citizenship law which is due to be enforced on January 1, 2010 and which makes it easier for Hungarian ethnics living abroad to get Hungarian citizenship.

Romanian Media Owner Sorin Ovidiu Vintu Hospitalized With Cardiac Problems

13:38, 18 Oct. 2010
Romanian media owner and influential businessman Sorin Ovidiu Vintu, indicted for aiding a fraud convict, was admitted Monday morning, at 3:20 a.m., at the Bucharest University Emergency Hospital, accusing cardiac problems, hospital spokesperson Bogdan Oprita said Monday.

Romanian Chemical Plants Asks Govt To Extend Gas Incentive

13:33, 18 Oct. 2010
Romania's federation of employers in the chemical and petrochemical industry (FEPACHIM) and and unions in the industry (FSLCP) will protest in the next two days in front of the Government and the Economy Ministry headquarters, asking for further incentives in granting locally-produced natural gas to some companies.

Romanian Subway Employees Threaten To Strike If They Lose Bonuses

13:02, 18 Oct. 2010
Employees of Romania’s state-owned subway company Metrorex threaten to go on strike in December if their bonuses for special working conditions are eliminated from the company’s budget.

EBRD Delegation Visits Romania For Consultation Meetings

12:20, 18 Oct. 2010
A delegation of the European Bank for Reconstruction and Development's Board of Directors is visiting Romania between October 17 and October 19, as part of a regular series of consultations, the bank said in a statement Monday.

Romanian Teachers Resume Protests Outside Education Ministry

10:49, 18 Oct. 2010
Romanian teachers resumed protests Monday outside the headquarters of the Education Ministry in capital Bucharest and Liviu Pop, a union leader, said their protests have been authorized until Wednesday.

Romanian President Says Govt Likely To Seek Conf Vote To Pass Public Wage Law

15:58, 17 Oct. 2010
Romanian President Traian Basescu said he doesn’t think the country’s unitary pay law for the public sector will go through Parliament because it may get stuck there indefinitely and the Government will likely seek a confidence vote for its adoption.

IMF Review Mission Visits Romania Oct 20-Nov 1, New Agreement To Be Discussed

14:33, 17 Oct. 2010
A delegation of the International Monetary Fund arrives in Romania Wednesday, October 20, to review the country’s progress under a EUR13 billion loan agreement and discuss a new agreement, an IMF official told MEDIAFAX Sunday.