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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.

Romania To Increase Public Sector Salaries By 15% In 2011 Compared To October Level

18:55, 24 Nov. 2010
Romania's Government will increase the base salaries in the public sector by 15% in 2011 compared to their October level, while the minimum gross salary will be raised to 670 lei (EUR1=RON4.3079) from the current RON600, said Prime Minister Emil Boc.

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.