romania

IMF Says Other Measures To Trim Romania Deficit Backed As Well

12:42, 25 Mai 2010
The International Monetary Fund would have supported other options of cutting the budget deficit, if the Romanian authorities had chosen another one, but the Government had the final say, according to Jeffrey Franks, the head of the IMF mission in Romania.

Sol Melia Hotel Group Eyes Romanian Coast, Bucharest Market

17:49, 23 Mai 2010
Spanish group Sol Melia, Europe’s third largest hotel chain, has plans to enter the Romanian market in the near future by opening four- and five-star hotels on the Black Sea coast and in Bucharest, its general manager for Bulgaria, Jose Manuel Navarro, said Saturday.

Romanian PM Meets Employers Friday For Talks On IMF Letter Of Intent

11:08, 21 Mai 2010
Romanian Prime Minister Emil Boc meets Friday with employers’ representatives for talks on Romania's letter of intent with the International Monetary Fund, people close to the matter told MEDIAFAX.

Romanian Liberals Set To Uphold Any Upcoming No-Confidence Motions

17:39, 20 Mai 2010
Romania’s opposition Liberal Party PNL will vote in favor of the social democrats’ planned no-confidence motion, regardless of whether or not it will take part in drafting the motion, and it will also uphold any upcoming motions, liberal Ludovic Orban said Thursday.

Romanian Parents To Picket Government HQ Wednesday, Parliament HQ on June 1

17:26, 20 Mai 2010
Romanian parents will picket the Government headquarters on May 26 and will stage protests in Iasi and Brasov displeased with the Executive’s plan to cut child-rearing and other social benefits granted to children, protesters’ representatives said in a press release Thursday.

Number Of Foreign Visitors To Romania To Rise 18%, To 9.6M By 2014 – Study

15:35, 20 Mai 2010
The number of foreign tourists coming to Romania will rise 18% by 2014, to 9.6 million visitors, according to the estimates of market study firm Euromonitor International.

Romania’s Govt Wants To Adopt IMF Letter Of Intent Next Week

21:15, 19 Mai 2010
Romania’s Government wants to adopt in its next week’s meeting the letter of intent to the loan agreement with the International Monetary Fund after negotiations with unions and employers, people close to the matter told MEDIAFAX Wednesday.

Romania To Limit Quantity Of Tobacco Products, Alcohol Sold In Duty-Free Shops

20:26, 19 Mai 2010
Romania’s Government will limit the quantity of tobacco products and alcohol that can be sold to individuals in duty-free shops in order to reduce tax evasion and increase budget revenues.

Romania Mulls Reintroducing Excises On Luxury Products, Risks EC Sanctions

18:37, 19 Mai 2010
Romania’s Government plans to reintroduce excises on yachts, perfumes, hunting weapons, jewelry and other luxury products starting 2010, and the country risks to be sanctioned by the European Commission, as it breaches certain European norms.

Romanian State Secretaries, State Representatives In Cos Compelled To Donate Benefits

16:53, 19 Mai 2010
Romanian Prime Minister Emil Boc called on secretaries of state and state representatives in companies where the state is minority shareholder to donate all their benefits for a period of six months to a national solidarity fund.

Romania Adopts Lustration Law

14:18, 19 Mai 2010
Romania’s Chamber of Deputies Wednesday adopted with 203 to 40 votes and 12 abstentions the country’s lustration law.

No-Confidence Motion Obligatory If Govt OKs Cost Cutting Plan – Romanian Senate Chairman

12:21, 17 Mai 2010
Romanian Senate Chairman Mircea Geoana said Monday opposition parties must submit a no-confidence motion against the Government if the Executive gives a confidence vote to the cut spending program to reduce salaries and pensions.

Romanian Car Market Climbs 5 Spots In EU By New Car Registrations In April

11:36, 17 Mai 2010
The Romanian car market climbed five positions by number of new car registrations and is ranked 18th in the European Union in April.

American Actress Says Faced Death After Medical Mishap In Romania

13:38, 15 Mai 2010
American actress Jana Kramer had to halt her shoot for "Return of the Living Dead: Necropolis" in Romania in 2005, after she was misdiagnosed by Romanian doctors who removed her appendix when she actually needed her gallbladder removed, she told Maxim magazine in an interview.

EBRD Lowers Romania’s 2010 Econ Growth Forecast To Zero From Previous 1.3%

13:16, 15 Mai 2010
The European Bank for Reconstruction and Development (EBRD) has lowered its forecast on Romania’s 2010 economic growth to zero from a previous forecast of 1.3%, citing limited internal demand expected after the country’s austere budget gap tightening measures.

Romania’s Govt To Eliminate Financial Aid For Childbirth, First Marriage

13:55, 14 Mai 2010
Romania’s Government will eliminate the 230 lei (EUR1=RON4.1814) financial aid granted to mothers at childbirth, as well as the EUR200 aid for newlyweds at their first marriage, according to a draft ordinance decree to cut social spending.

Romanian Fin Min To Unblock 2009 Overdue Subsidies For Farmers By Friday

12:13, 13 Mai 2010
Romania’s Finance Ministry will unblock all 2009 overdue subsidies to farmers by Friday, Finance Minister Sebastian Vladescu said Thursday after a meeting with agriculture sector unionists and Agriculture Minister Mihai Dumitru.

Romania’s Govt Estimates To Collect Extra RON421M In Meal Vouchers, Copyright Income Tax Revenues

11:02, 13 Mai 2010
Romania’s Government estimates it will collect extra 345 million lei (EUR1=RON4.1751) in the second half of the year by applying a 16% tax on meal vouchers, and extra RON76 million by deducting social security contributions from copyright income and reducing deductible quotas to 25%, from 40%.

EU: Romania Not Yet Ready For Euro Adoption

18:08, 12 Mai 2010
The European Commission on Wednesday concluded Romania is not yet prepared to join the euro area, citing a series of legal incompatibilities along the mandatory criteria for adopting the European common currency.

Romania Signs Tri-Nation Deal To Create Gas Transport Co

17:27, 12 Mai 2010
Romania, Azerbaidjan and Georgia have signed an agreement Wednesday in Tbilisi to create a mixed company that will transport Azeri gas to Europe, through Georgia, the Romanian Economy Ministry said.

Romania Might Raise Health Insurance Contributions To 14%, From 10.7%

15:11, 12 Mai 2010
Romania’s Health Ministry and the National Health Insurance House (CNAS) are working on a draft act to raise health insurance contributions from 10.7% to 14%, which would increase the value of the health insurance fund by 20%, CNAS manager Adina Geana said Wednesday.

Romania’s Govt Adopts Decision To Implement Digital Television

15:08, 12 Mai 2010
Romania’s Government adopted a decision to implement digital television, which will enable telecoms regulator ANCOM to start procedures to award the first two licenses in the sector, Communications Minister Gabriel Sandu told MEDIAFAX Wednesday.

România a înregistrat în primul trimestru a patra scădere economică din UE

13:22, 12 Mai 2010
România a înregistrat în primul trimestru a patra scădere economică din Uniunea Europeană (UE), de 0,3%, comparativ cu ultimele trei luni ale anului trecut, la nivelul blocului comunitar Produsul Intern Brut crescând cu 0,2%.

Romanian Disabled People, War Veterans Affected By Cost Cutting Program

11:15, 12 Mai 2010
Romania will slash social benefits by 15% starting June 1 and the measure will also be applied for people with disabilities, war veterans and widows, ex-political prisoners and deportees, as well as for pensioners whose spouses died, according to a draft emergency decree to cut social spending.

Romania To Collect New Taxes To Increase Budget Revenues

10:01, 12 Mai 2010
Romanian Finance Minister Sebastian Vladescu said the country will apply a 16% tax on income gained from copyright, stock activities, the interest generated by bank deposits, mandate contracts, as well as on authorized individuals, newspaper Gandul reported.

Romania To Repeal Laws Regulating Newborn’s Trousseaus, Financial Aid For Newlyweds

09:18, 12 Mai 2010
Romania’s Government will repeal the laws regulating trousseaus for newborns and financial aid for newlyweds, according to a draft emergency decree to reduce social spending.

Romania Must Borrow Extra EUR5B, Apart From IMF Loan, To Meet New Budget Deficit Target

00:03, 12 Mai 2010
Romanian President Traian Basescu said Tuesday Romania should borrow extra EUR5 billion from the market, apart from the EUR3 billion to be disbursed by the International Monetary Fund and the European Union by the end of the year, in order to keep the deficit in the new cap agreed with the IMF.

Romania’s Letter Of Intent To IMF To Be Adopted Only With Prior Ok Of Economic And Social Council

23:57, 11 Mai 2010
Romanian President Traian Basescu Tuesday said he decided, alongside Prime Minister Emil Boc, that the additional letter of intent for the EUR13 billion standby agreement with the IMF will be adopted by the Government only with the prior approval of the country’s Economic and Social Council.

Romania To Reduce Minimum Social Pensions To RON300 – Draft Decree

20:58, 11 Mai 2010
Romania will reduce minimum social pensions to 300 lei (EUR1=RON4.1756), from the current RON350, and will adjust them according to macroeconomic indicators and the country’s financial resources, according to a draft emergency decree regarding public spending cuts.

Romania’s PC Software Piracy Rate Dn 1 Pct In 2009, To 65% – BSA

19:00, 11 Mai 2010
The rate of software piracy dropped to 65% in Romania in 2009, from 66% in 2008 and losses triggered by software piracy decreased by 22.5%, to $183 million, from $249 million in 2008, according to a report drawn up by Business Software Alliance (BSA).

Romania’s Overdue Debts To Bechtel Might Be Paid Off In Two Weeks – Transport Minister

17:42, 11 Mai 2010
Romania might pay off overdue debts to U.S. constructor Bechtel in two weeks, for works carried out on the Transylvania Highway, but the county lacks funds to continue works on the two highway sectors in Cluj county, northwestern Romania, Transport Minister Radu Berceanu said Tuesday.

Romania Might Regulate Online Gambling

16:40, 11 Mai 2010
The Romanian Finance Ministry is looking into ways to regulate and authorize online gambling and will allow the setting up of a firm tasked with checking the money collection process, Finance Ministry secretary of state Bogdan Dragoi told MEDIAFAX Tuesday.

Volcanic Ash Plume Exits Romanian Airspace Tuesday

13:58, 11 Mai 2010
The new ash plume from the Icelandic volcano Eyjafjöll will exit Romanian airspace Tuesday, Romania’s Environment Ministry said, citing the latest forecast of the London Volcanic Ash Advisory.

Romanian Farmers Picket Govt HQ Tuesday Calling For Subsidies, EU Funds

13:46, 11 Mai 2010
Over 1,200 Romanian farmers picket Tuesday for two hours the Government’s headquarters, calling for payment of overdue subsidies, lower excises on fuel used in farming and access to EU funds.

Romanian Banks’ Contributions In Deposits Guarantee Fund To Hike As Of 2011

00:53, 11 Mai 2010
Romania’s deposits guarantee fund FGD will consolidate its funds through raising, as of 2011, the contributions of the participating banks and will progressively give up the stand-by credit lines, according to additional documents to the agreement sealed with the International Monetary Fund.

Romania Promises To Revive Privatization Program

00:37, 11 Mai 2010
Romania has pledged to "aggresively" resurrect the privatization program, especially in the industry, energy, transport, tourism or agriculture, as part of its efforts to raise budget revenue to meet the International Monetary Fund requirements.

EU Says Romania „Broadly” Meets Loan Terms

00:17, 11 Mai 2010
Romania has broadly met the policy conditions for a loan from the European Union, but still needs to take additional measures to narrow the budget deficit, the European Commission said Monday.

Romania Pledges Cos Under IMF Monitoring Will Cut Arrears By 2.5%

23:59, 10 Mai 2010
Romania’s Government pledged during negotiations with the International Monetary Fund and the European Commission that each of the ten state-owned companies under monitoring will reduce arrears by 2.5% each quarter, starting with July-September period.

Romanian Authorities Pledge Not To Uphold Personal Insolvency Bill

20:39, 10 Mai 2010
Romanian authorities said they will not uphold certain draft laws, such as the draft personal insolvency law, in order to strengthen the country’s financial stability, according to the Memorandum of Understanding between Romania and the IMF and EU.

Romanian Cos’ Budget Debts Rise To RON18.7B End-March

19:41, 10 Mai 2010
Romanian companies’ debts to the consolidated budget rose 8.5% in the first quarter, at 18.69 billion lei (EUR1=RON4.1641), most of them being unpaid obligations to the state budget, according to additional letter of intent to the agreement sealed with the International Monetary Fund.