English

NW Romania Employment Agency Mulls Suing U.S. Builder Bechtel Over Illegal Massive Layoffs

18:15, 04 Feb. 2010
The employment agency in Cluj, northwestern Romania, is considering suing U.S. Bechtel, the company building Romania’s Transylvania highway, arguing the company's massive layoff proceedings breach all valid regulations.

Romanian Insurers Owe EUR300M To Auto Repair Shops

17:52, 04 Feb. 2010
The delayed payments owed by Romanian insurers to auto repair shops currently cumulate EUR300 million, with an average debt of EUR100,000 per company, said Thursday Cristian Muntean, a manager of independent auto repair shop association ASSAI.

Romanian Public Radio Plans Expansion Into Moldova

16:52, 04 Feb. 2010
Romania’s public radio SRR wants to expand to the Republic of Moldova, where a large part of the population is ethnic Romanian.

Fitch Revises Outlook On 4 Romanian Banks Following Sovereign Action

16:43, 04 Feb. 2010
Fitch Ratings on Thursday revised four Romanian banks' outlooks to stable from negative following the similar action on Romania's sovereign rating earlier this week.

Romania To Get Loan With State Guarantee For Transylvania Highway Construction

16:09, 04 Feb. 2010
Construction works in 2010 on Romania’s Transylvania highway, linking central Brasov to western Bors on the border with Hungary, will be funded from a state-guaranteed loan, Transport Ministry state secretary Constantin Dascalu said Thursday.

Romania Could Make Energy Certificates For Buildings Mandatory As Of March

16:00, 04 Feb. 2010
Romanian could make energy certification for buildings mandatory as of March if the government approves the Development’s Ministry’s emergency decree regulating it, the ministry said Thursday.

Romania’s Tobacco Excise Revenue Up 31.5% In 2009

15:38, 04 Feb. 2010
Excises on tobacco brought revenues of 5.09 billion lei (EUR1=RON4.1214) to Romania’s state budget in 2009, 31.5% higher on the year, the head of the tax authority ANAF told MEDIAFAX.

U.S. Antimissile System Operational In Romania As Of 2015

15:30, 04 Feb. 2010
Romanian President Traian Basescu said Thursday the U.S. antimissile defense system, to which the country has agreed to participate, will be up and running in Romania starting 2015.

Romania Accepts U.S. Request To Participate In Antimissile Plan – President

14:45, 04 Feb. 2010
Romanian President Traian Basescu said Thursday the country’s High Defense Council has accepted a proposition of U.S. President Barack Obama, who has invited the country, a NATO and EU member, to participate in the development of the United States’ antimissile plan and host components on its territory.

Sun Plaza Shopping Mall In Bucharest To Open On Feb 25 After EUR200M Invest

14:33, 04 Feb. 2010
Sun Plaza shopping mall in Romania’s capital city Bucharest will be opened on February 25, following a EUR200 million investment, according to Austrian investor Sparkassen Immobilien AG and Romania-registered developer EMCT, with a one-week delay from the latest announced date.

Bucharest Hotels See 20-Year Low In January ’10 Load Factor

14:31, 04 Feb. 2010
January 2010 was the weakest month in the past 20 years for hotels in Bucharest, which were forced to close some 30% of their rooms, due to an average load factor below 30%, Hotel Industry Federation secretary general Mihai Rijnita told MEDIAFAX Thursday.

Romanian Realty Transactions Drop More Than 27% In ‘09, Total Taxes Dn 52% – Notaries

14:29, 04 Feb. 2010
The number of real estate transactions was down 27.28% on the year in 2009, at 352,518, below notaries' estimates early 2009, and the value of income taxes from property deals was down 52%, to 498.7 million lei (EUR1=RON4.1214), the National Union of Notaries Public In Romania (UNNPR) said Thursday.

One Romanian Aboard Libyan-Owned Pirate-Seized Cargo Ship

14:15, 04 Feb. 2010
A North Korean-flagged and Libyan-owned cargo ship hijacked on Wednesday south of the Yemeni coast has one Romanian and nine Syrian sailors aboard, said Thursday Adrian Mihalcioiu, an official of the International Transport Workers’ Federation.

Romania Fin Min Looks For Solutions To Restart Lending

14:05, 04 Feb. 2010
Romania's Finance Minister Sebastian Vladescu said Thursday, after meeting officials of the Romanian Banking Association ARB, they are looking for solutions to restart lending, but banks have no new projects to finance.

Romanian Social Democrat Leader Apologizes To Those He Disappointed In Elections

14:02, 04 Feb. 2010
Romanian Social Democratic Party (PSD) leader Mircea Geoana, speaking in the party’s National Council on Thursday, apologized to those he disappointed, but said that blaming the party’s failure in the presidential elections on a single person would be unfair.

Rents Dropped 26% In Capital City Bucharest In ’09

13:54, 04 Feb. 2010
Rents in Romania’s capital city Bucharest and the surrounding Ilfov county dropped by an average 26% in January 2010 compared to the same interval last year, and the biggest rent decrease was reported for studio flats (27%).

Half Of Romanians Say Prices Of Food, Non-Food Products Went Up During Crisis – Poll

13:10, 04 Feb. 2010
Nearly half of Romanians believe prices of food and non-food products went up during the economic crisis, over 40% of Romanians believe prices remained unchanged, while 46% of them said they noticed a wider range of consumer sales promotions, according to market research agency Mercury Research.

Romanian Fast-Food Tax Won’t Target Pizza, Shawarma, Mineral Water – Health Ministry

12:51, 04 Feb. 2010
Romanian Health Ministry secretary of state Adrian Streinu Cercel said Thursday the proposed tax on unhealthy foods might be applied to fizzy drinks and products very rich in fats and sugar, adding it won't target foods such as dairy products, meat, pizza, shawarma or mineral water.

One Dead, Sixteen Hospitalized After Carbon Monoxide Poisoning In NE Romania Hotel

12:04, 04 Feb. 2010
One person died and sixteen others were taken to the emergency room in Suceava, northeastern Romania, most likely due to carbon monoxide poisoning in the hotel where they were staying.

EU Cuts Subsidies For Energy Crops In 2010 – Romanian Agriculture Min

11:20, 04 Feb. 2010
Romania’s Agriculture and Rural Development Ministry said Thursday no subsidies will be grated for crops used to produce bio-fuels starting 2010.

Romanian FM Suspends Diplomat Investigated For Negligent Homicide

10:44, 04 Feb. 2010
Romanian Foreign Minister Teodor Baconschi decided to suspend the country’s charge d’affaires to Singapore, Silviu Ionescu, who was indicted for negligent homicide following a car accident.

Romanian Sibiu Bypass Road To Be Complete By End ’10

20:07, 03 Feb. 2010
Romanian Prime Minister Emil Boc told a press conference Wednesday that the bypass roar around the city of Sibiu will be complete by the end of 2010, even though the deadline is 2011, adding this project’s financing is secured.

World Bank Proposes Romanian Public Wage System Which Could Freeze Certain Salaries

19:36, 03 Feb. 2010
The World Bank proposed to the Romanian Government a simplified public wage system, under which jobs would be classified into around 10 occupational groups and 1,000 positions, but warned that these changes could indefinitely freeze salary increases for jobs which are downgraded in value.

Employees Of Nokia Factory In Romania To Receive 9% Higher Wages

16:30, 03 Feb. 2010
The employees of the Nokia factory in Jucu, northwestern Romania, will receive a 9% increase in their salary this year, according to the collective labor contract signed Monday with the company’s management.

Romania Must Uphold Strategic Business Fields To Make It Out Of Econ Crisis – PM

14:56, 03 Feb. 2010
Romanian Prime Minister Emil Boc on Wednesday said Romania will rejoice many achievements as European Union member state and will be able to make it out of the crisis if it focuses on fields that can bring out its business potential.

Romanian Small Businesses To Go Bankrupt, Move Offshore Over Tax Raise

14:16, 03 Feb. 2010
Most Romanian small businesses will go bankrupt, move their business offshore or continue to work as authorized individuals because of the government’s plan to stop allowing them to pay a 3% income tax, fiscal consultancy company R&M Audit said Wednesday.

Romania To Attract EUR4.3B In European Funds In 2010 – PM

14:03, 03 Feb. 2010
Romanian Prime Minister Emil Boc said Wednesday during a visit to Sibiu, central Romania, the country will attract EUR4.3 billion in European funds this year, adding the money could help economy out of the recession.

Somali Pirates Demand Record Ransom For Asian Glory – Media

13:34, 03 Feb. 2010
The Somali pirates who have captured the Asian Glory ship, which also had two Romanians in its crew, allegedly demand a record $15 million ransom to release the ship, according to Ukrainian intelligence sources quoted by the Bulgarian News Agency.

Romanian Diplomat To Singapore Indicted For Negligent Homicide

13:30, 03 Feb. 2010
Romanian criminal prosecutors opened criminal investigations regarding Romanian diplomat assigned to Singapore Silviu Ionescu indicted for negligent homicide, after being involved in a car accident in Bukit Panjang.

About 100 Teachers Picket Romanian Education Ministry Over Layoff Plans

12:59, 03 Feb. 2010
About one hundred teachers affiliated to the Spiru Haret education union picketed the Education Ministry’s headquarters in Bucharest disgruntled with the government’s plan to jettison 15,000 jobs in the sector.

ING: Romania Ratings May Be Upgraded On Budget Deficit Cut

12:56, 03 Feb. 2010
Romania’s rating is not likely to be raised sooner than late 2010 or early 2011, and an upgrade may follow only if the fiscal measures agreed with the International Monetary Fund succeed in lowering the budget deficit, according to report of ING Bank.

Romania Dec Retail Sales See Biggest Monthly Decline In EU

12:45, 03 Feb. 2010
Romanian retail sales fell at the biggest pace in the European Union in December 2009 compared with the earlier month, official data showed Wednesday.

Romania Ctrl Bk Cuts Key Rate By 50 BPs To 7%

12:43, 03 Feb. 2010
Romania’s central bank on Wednesday cut its key rate by 50 basis points to 7%, the lowest level in more than two years, but kept the minimum reserve requirements unchanged.

Georgian President Mikhail Saakashvili To Visit Romania In Spring – Press

11:49, 03 Feb. 2010
Georgian President Mikhail Saakashvili is expected to visit Romania this spring, Saakashvili’s spokesperson Manana Manjgaladze said, quoted by newspaper Georgian Times on its website.

Romanian Member In Council Investigating Security’s Archives Incompatible With Position

11:11, 03 Feb. 2010
Romania’s National Integrity Agency said Mircea Dinescu, a member in the National Council Investigating Security’s Archives (CNSAS), has been incompatible with this position since 2006, as he was both a member in the Council and the manager of a commercial company.

Romanian PM Urges Ministers To Tackle Staff Shortage In Institutions Managing EU Funds

09:13, 03 Feb. 2010
Romanian Prime Minister Emil Boc has called on ministers to find ways to tackle the staff shortage within the institutions managing European Union funds, according to a press release issued by the government.

Romania To Pay 13th Salary For 2009 Until April, Scrap It As Of 2011 – PM

09:12, 03 Feb. 2010
Romanian Prime Minister Emil Boc said Tuesday evening on B1 TV the extra 13th monthly salary per year for 2009 will be granted to public sector employees until April 2010, depending on budget loans approved by the Finance Ministry, but stressed this salary will no longer be paid in 2011 for 2010.

EU Directive Forces Carmakers To Equip Cars With Brake Assist Systems By 2011

07:30, 03 Feb. 2010
Automakers will be forced to equip their cars and utility vehicles with brake assist systems as of February 2011 if they want to sell their cars in the European Union, according to a directive improving pedestrian protection.

Only Social Pensions Can Be Updated, Other Increases Depend On Budget – Romanian PM

20:13, 02 Feb. 2010
Romanian Prime Minister Emil Boc said the Government can bring only the minimum pension in line with the rate of inflation and perhaps increase the smallest pensions through a social initiative Fund, but this depends on the resources created by the economy’s evolution in following months.

Fitch Revises Romania Outlook To Stable, Affirms ‘BB+’ Rating

17:28, 02 Feb. 2010
Fitch Ratings revised Romania's outlook to stable from negative, while affirming the country's ratings, citing an improvement in external financial and economic conditions, the ratings agency said Tuesday.