Radu Bostan

Romanian President Woos German Investors With “Large Privatization” Outlook

17:44, 10 Nov. 2011
Romanian President Traian Basescu on Thursday said, after meeting German Chancellor Angela Merkel, that Romania will start a large privatization process, involving thermal power producers Turceni, Rovinari and Craiova, as well as railroad freight transporter CFR Marfa.

Romania Has Confirmed Its Intention To Join Euro Area By 2015 – Merkel

17:11, 10 Nov. 2011
German Chancellor Angela Merkel on Thursday said in a joint news conference with Romanian President Traian Basescu that Romania has confirmed its intention to join the euro area in 2015, adding she respects this intention and she knows the efforts required by the people during tough reforms.

Romanian Lower House Adopts Act Freezing Pensions, Salaries In 2012

15:24, 08 Nov. 2011
Romania's Chamber of Deputies on Tuesday adopted Government Emergency Ordinance 80/2010, which includes amendments by the Committee for budget, that stipulate public sector salaries and state pensions will be frozen next year.

Nicole Kidman May Promote Romania In New Documentary

14:35, 08 Nov. 2011
Australian actress Nicole Kidman might promote Romania's tourist attractions in a documentary developed by the Travel Channel, said Paul Lister, the producer of "Wild Carpathia," a film that featured Prince Charles.

Romanian President Passes Law On Remembrance Day For Victims Of Fascism And Communism

19:20, 07 Nov. 2011
Romanian President Traian Basescu on Monday passed the Law making August 23 the Remembrance Day for Victims of Fascism and Communism, and December 21 the Remembrance Day for Victims of Communism in Romania.

Romanian Social Democratic Party Moves To Replace Senate President

17:28, 07 Nov. 2011
Romania's Social Democratic Party (PSD, in opposition) on Monday requested that Senate President Mircea Geoana be replaced with Titus Corlatean.

Romania Needs Privatization, Private Management To Foil “Wise Guys” – IMF

17:07, 07 Nov. 2011
The government needs to hurry privatizations and the appointment of private management at state-owned companies, to decisively change the system where a privileged few enjoy undeserved profit, says Jeffrey Franks, head of the International Monetary Fund’s delegation to Romania.

IMF: Romania May Raise Salaries, Pensions Slightly In 2012, If Things Go Well

16:33, 07 Nov. 2011
Romania's Government has agreed with the IMF and EC to freeze public sector salaries and pensions, but to increase them slightly halfway through next year, if budget revenue allows, said IMF mission chief Jeffrey Franks.

UK Advisory Committee Recommends Maintaining Employment Restrictions For Romanians, Bulgarians

16:03, 04 Nov. 2011
The United Kingdom's Migration Advisory Committee recommends maintaining restrictions on the access of Bulgarian and Romanian nationals to employment, as lifting them would have a negative impact on the British labor market.

Laid Off Nokia Employees To Receive Severance, Re-Employment Counseling

21:22, 03 Nov. 2011
The employees laid off from Nokia's plant in Romania will receive severance pay, as well re-employment counseling, training and development packages and support for entrepreneurs, the company announced Thursday evening.

Romanian President: 2012 Budget Targets Deficit Of 1.9% In Cash Terms

21:19, 03 Nov. 2011
Romanian President Traian Basescu said Thursday, after a meeting with the IMF, World Bank and European Commission delegation, that next year's budget will be built on a deficit of 1.9% of the GDP in cash terms, which can be increased up to 2.5% later in the year.

Romanian Cos Allowed Until December 15 To Update General Employee Registry

19:39, 02 Nov. 2011
Romania's Government has pushed the deadline by which companies may register or update the data in the General Registry of Employees (REVISAL) to December 15, 2011.

New Authority To Handle Romanian Road Transport Controls Starting In December

19:26, 02 Nov. 2011
Traffic control in road transport, currently the responsibility of the Romanian Road Authority, Romanian Car Registry and National Roads and Highways Company (CNADNR), will be taken over by a new structure, starting in December.

Romanian Senate Adopts New Bill On Car Pollution Tax

21:12, 31 Oct. 2011
Romania's Senate on Monday adopted a bill on the car pollution tax, which amends the first registration tax criticized by the Court of Justice of the European Union.

Romanian Pharma Industry Asks IMF To Push For Changes To Clawback System

14:26, 30 Oct. 2011
Pharmaceutical companies have asked the International Monetary Fund to urge Romania's Government to reduce the clawback tax to zero for generic drugs, allow at least 210 days for its payment and no longer charge it on prices including VAT and distribution margin.

Romanian Transport Minister Signs EUR39.5M Contract For Suceava Airport Upgrade

17:23, 28 Oct. 2011
Romanian Transport Minister Anca Boagiu and Suceava county council president Gheorghe Flutur on Friday signed the contract for the Suceava Airport's modernization through the Transport Operational Program, a EUR39.5 million investment financed by the EU and the national and county budget.

Romania To Provide Emergency Relief To Turkey, Libya

18:39, 27 Oct. 2011
Romania's Government has decided to supply 100 tents to Turkey free of charge, as emergency earthquake relief, and provide medical care to 100 Libyan citizens injured in the civil war.

EP Urges EU States To Lift Labor Market Restrictions Against Bulgaria, Romania By End-2011

16:46, 25 Oct. 2011
All EU member states must allow Romanians and Bulgarians access to the labor market by the end of 2011, ahead of the 2013 deadline, says a resolution adopted Tuesday by the European Parliament, calling on the Commission to initiate infringement procedures against non-compliant Member States.

Romanian President Calls For Prudent 2012 Budget

20:17, 24 Oct. 2011
Romania must use prudence in setting its budget targets for 2012, because the costs to finance the deficit have gone up due to the worsening situation in international markets, President Traian Basescu said Monday.

Romanian PM Needs Parliament Mandate To Negotiate With IMF – Senate President

16:18, 24 Oct. 2011
Romanian Senate president Mircea Geoana said Monday that he will write to Prime Minister Emil Boc and ask him to request the Parliament's mandate before negotiating with the IMF, World Bank and European Commission.

Eurostat Withdraws Reservation On Romania’s Deficit Data

16:54, 21 Oct. 2011
Eurostat has withdrawn its reservation expressed on the quality of Romania’s data on the budget deficit for the 2007-2010 period and confirmed the October 2011 notification from the eastern European country was according to ESA95 methodology, the Finance Ministry said Friday.

Romania To Sign EU Financing Contracts Worth EUR250M For Infrastructure Projects By 2012

19:05, 20 Oct. 2011
Romanian Transport Minister Anca Boagiu said that, by the end of the year, the ministry will sign European financing contracts worth EUR250 million for infrastructure investments, raising the total current value of contracts to EUR1 billion.

Romania To Have 123 Km Of Highway Open By End-Year – PM

17:25, 20 Oct. 2011
Romanian Prime Minister Emil Boc said Thursday that the country will have "123 km of highway" by the end of the year, of which 90 km are already open for traffic.

Over 600,000 Phone Nos Ported In Romania In Three Years, Most Towards Cosmote

16:18, 20 Oct. 2011
More than 600,000 phone numbers have been ported in Romania in the three years since this service was launched, 67% of which are mobile numbers, while Cosmote is the destination operator for most of them, according to telecom regulator ANCOM.

Romania OKs Two More Oil Drilling Licenses In The Black Sea

10:58, 20 Oct. 2011
Romanian government Wednesday approved two oil exploration licenses in the Black Sea platform granted by the national agency for mineral resources to a consortium made of oil companies Lukoil Overseas and Vanco International.

Romanian Diesel Fuel Prices Grow Because Demand Is High – OMV Petrom

18:41, 19 Oct. 2011
The increase in diesel fuel prices comes from increased demand for this product, as Romania produces less of this fuel than it consumes, Wednesday said Mariana Gheorghe, chief executive officer of oil company OMV Petrom (SNP.RO).

Court Terminates Bucharest Sanitation Contracts, Orders New Auctions

17:28, 19 Oct. 2011
The Bucharest Court of Appeals has decided to terminate the sanitation contracts signed by City Hall and the authorities of sectors 1, 2, 3, 4 and 6, and compelling them to hold new procurement auctions for these services.

Terapia Ranbaxy, ZTE Interested In Taking Over Nokia’s Romanian Facility

16:16, 18 Oct. 2011
Romanian pharmaceutical company Terapia Ranbaxy and ZTE, one of the largest Chinese producers of telecom equipment, are interested in taking over Nokia's production halls at Jucu, once the plant closes, Alin Tise, president of the Cluj County Council, said on Tuesday.

Romanian Census To Begin On October 20 With EUR45M Budget

14:55, 18 Oct. 2011
The national census, to be conducted between October 20 and 31, will be the most complex census carried out in Romania after 1989 and the first since the country's accession to the European Union, with a budget of more than EUR45 million for 2011-2014.

Romania’s 2012 Budget Needs New GDP Growth, Deficit Estimates – PM

17:28, 17 Oct. 2011
Romania's Government has completed the draft of next year's state budget, but it will be sent to Parliament after the European Commission (EC) announces the economic growth forecast and after the budget deficit target is agreed upon with the IMF and EC, Prime Minister Emil Boc said Monday.

Romanian Number Of Insolvencies Nears 14,000 In First 9 Months

16:36, 17 Oct. 2011
A total 13,984 firms went insolvent in Romania within the first nine months of the year, 10% less than in the same interval of the previous year, according to data from the national trade registry ONRC.

KPMG: Romania Among States With Highest Social Contribution Rates

18:21, 14 Oct. 2011
Romania ranks among the countries with the highest level of combined employer/employee social contributions on $100,000 of gross income, placing it 18th among 87 states surveyed in the category, according to the most recent KPMG International Individual Income Tax and Social Security Rate report.

Bucharest Public Transport Authority To Spend EUR760,000 On Monitoring System

19:33, 13 Oct. 2011
Bucharest's public transport authority (RATB) will buy a monitoring system for 1,000 buses and 100 trolley buses, estimating that the EUR760,000 investment will be compensated in less than a year by reducing costs associated with control terminal personnel.

Romanian Authorities Must Compare Prices Of Similar EU-Funded Projects – Banker

17:14, 13 Oct. 2011
Romania's EU fund management authorities and the Ministry of European Affairs should be able to look up and compare the prices of similar projects, because in some instances the difference between them is considerable, said Radu Gratian Ghetea, president of CEC Bank.

EP Adopts Resolution Supporting Romania’s Schengen Accession

15:13, 13 Oct. 2011
The European Parliament on Thursday adopted a resolution asking the European Council to allow Romania and Bulgaria to join the Schengen Area.

Romanian Govt Approves Renewable Energy Incentive Scheme

21:27, 12 Oct. 2011
Romania's Government on Wednesday approved the ordinance providing state aid through green certificates for renewable energy production, after repeated complaints about delays from business associations in the industry.

Bulgaria, Romania To Set Up Cooperation Council For Future Joint Cabinet Meetings

19:47, 12 Oct. 2011
Romanian Prime Minister Emil Boc and his Bulgarian counterpart, Boiko Borissov, decided Wednesday to set up a high-level cooperation council tasked with preparing future joint Cabinet meetings.

Romanian Health Ministry To Introduce Private Health Insurance

15:42, 12 Oct. 2011
Romania's Health Ministry wants to introduce private health insurance, by creating private insurance houses supervised by the National Health Insurance House, said minister Ladislau Ritli on Wednesday.

Romania Signs Up Pedersen&Partners To Recruit Management For State-Owned Firms

21:12, 11 Oct. 2011
Romania's Ministry of Economy and Pedersen&Partners Consulting on Tuesday signed the contract for counseling regarding the recruitment of private management for state-owned companies.

Croitoru: Tăriceanu ar fi trebuit să ducă bugetul statului pe surplus, cum au făcut bulgarii

16:08, 11 Oct. 2011
Fostul premier Călin Popescu-Tăriceanu ar fi trebuit să ducă bugetul statului pe surplus în perioada în care eonomia creştea într-un ritm ridicat, astfel încât să contrabalanseze avansul deficitului de cont curent, afirmă Lucian Croitoru, consilier al guvernatorului BNR.