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Romanian State-Owned Railway Cargo Carrier Defends Need For Layoffs

18:53, 17 Dec. 2009

Romanian state-owned railway company CFR Marfa said the measure to layoff 6,380 is necessary and is based on the need to “balance income and expenses,” as the company’s activity has dropped 60% in the first ten months compared to 2008.

Red Tape In Romania Keeps Foreign Investors Away – Law Firm

17:29, 17 Dec. 2009

Many foreign investors choose to discard their business plans in Romania over excessive deadlines for registration with the National Trade Registry Office ONRC, which can take up to one year, according to representatives of Bucharest-based law firm Enescu&Cuc.

EU Hopes To Wrap Up Review Mission To Romania In Jan, Urges For Continued Progress

14:47, 17 Dec. 2009

The European Commission on Thursday urged Romania to “rapidly endorse” the draft budget for 2010 and carry on structural reforms, in view of releasing the second EUR1 billion tranche of its EUR5 billion loan to the eastern European Country.

Most Romanians Buy Sweets, Clothing As Christmas Presents – Survey

14:16, 17 Dec. 2009

Most Romanians plan to buy sweets specific for the winter holidays as Christmas presents, as well as clothes, footwear and accessories, according to a survey conducted by market research company GfK Romania.

Romanian Liberals Enter Opposition, Blast President’s Choice Of PM

14:08, 17 Dec. 2009

Romanian liberal head Crin Antonescu said Thursday democrat liberal leader Emil Boc is, as prime minister, "the poorest choice in the face of the crisis", adding the liberals will remain in opposition but the proposed Government will be instated quickly.

Romanian New Govt’s Priority Is To Ensure Country’s Stability, Continue Reforms – PM

13:20, 17 Dec. 2009

Romanian acting Prime Minister Emil Boc designated by President Traian Basescu for a new term said the new government’s priority is to adopt next year’s state budget, the fiscal liability law and the unitary pension law, continue reforms and ensure the country’s stability.

Romania To Cut Public Spending By 2.5% Of GDP In 2010 – IMF

12:41, 17 Dec. 2009

The International Monetary Fund and the Romanian Finance Ministry agreed on measures to reduce the public expenditure by 2.5 percentage points of the gross domestic product next year, in order to reach a budget deficit target of 5.9% from the GDP, the fund said Thursday.

Romania’s 2010 State Budget To See Parliament Approval Early January – PM-Designate

12:35, 17 Dec. 2009

Romania’s Parliament will approve next year’s state budget early January in an extraordinary meeting, Prime Minister-designate Emil Boc said Thursday.

IMF Ups Romania GDP Growth Forecast To -7% In ‘09, +1.3% In ’10

12:21, 17 Dec. 2009

The International Monetary Fund revised up its forecast on Romania's economic growth for 2009 and 2010, saying the economy looks better than a month ago on the backdrop of a stronger foreign demand.

Romanian Social Democrat Leader Sees PM-Designate As President’s Worst Choice

11:52, 17 Dec. 2009

Romanian social democrat leader Mircea Geoana said Thursday the decision made by President Traian Basescu to designate acting Prime Minister Emil Boc for a new term is unfit and shows Basescu’s second term as president might be even worse than the first.

Romania May Get 2 New IMF Loan Tranches On Feb 17 – President

11:16, 17 Dec. 2009

Romania might receive two new tranches of a EUR13 billion loan from the International Monetary Fund on February 17, provided it can adopt the 2010 budget by mid-January, President Traian Basescu said Thursday.

Romania’s President Asks Boc To Counsel With Him On Ministers Part Of High Defense Council

10:48, 17 Dec. 2009

Romania’s President Traian Basescu said Thursday, after designating acting Prime Minister Emil Boc for a new term, he asked the latter to take counsel with him on the ministers that are also members in the State Defense High Council (CSAT).

Romanian President Designates Acting PM Emil Boc To Lead New Govt

10:13, 17 Dec. 2009

Romania’s newly reelected President Traian Basescu Thursday designated democrat liberal leader and acting Prime Minister Emil Boc to head the country’s new government.

Romania’s President Asks Social Democrats To Consider Forming National Union Govt

09:38, 17 Dec. 2009

Romania’s President Traian Basescu asked social democrats Wednesday, during consultations on the country’s future government, to analyze the proposition to form a national union government, adding he would like social democrat Marian Sarbu to be appointed labor minister in the new Cabinet.

Next Romanian Government To Include Several Technocrats – Sources

20:50, 16 Dec. 2009

Bogdan Aurescu, secretary of state within the Romanian Ministry of Foreign Affairs and Lucian Croitoru, adviser to the central bank governor, could join the next Government as foreign affairs minister and, respectively finance minister, people close to the matter told MEDIAFAX.

Romanian Railway Unionists To Sue Transports Ministry Over Layoffs

18:54, 16 Dec. 2009

Romanian railway unionists said they would sue the Transports Ministry and state-owned railway company CFR Marfa because they have not withdrawn the collective layoff plan which would come into effect before the Government decision providing severance pay for some 6,380 employees.

Romanian Govt Upgrades ’10 GDP Growth To 1.3%

18:45, 16 Dec. 2009

Romania’s draft budget envisages an economic growth of 1.3% in 2010, up from 0.5% previously estimated, interim Finance Minister Gheorghe Pogea said Wednesday.

Romania’s Online Advertising Market 1H Sales Estimated At RON25.5M

18:03, 16 Dec. 2009

Romania’s online advertising market generated sales of about 25.5 million lei (EUR1=RON4.2459), in the first half of 2009, down 25% compared to the same interval last year, and up 58% compared to the first half of 2007, according to Romanian Online Advertising Study (ROADS).

Romania’s President Invites Liberals To Form Right-Wing Govt

17:41, 16 Dec. 2009

Romanian President Traian Basescu Wednesday told liberals participating in consultations on the country’s new government that the National Liberal Party is invited to form a right-wing Government alongside democrat liberals and the Hungarian minority party.

Romania Should Have Govt In Place By New Year’s – President

15:08, 16 Dec. 2009

Romanian President Traian Basescu said Wednesday at the start of talks with the group of national minorities that the country’s priority is to have a government in place between Christmas and New Year’s at the latest.

Romanian Liberals Fail To Reach Agreement With Democrat Liberals On New Govt

14:42, 16 Dec. 2009

Romanian liberal leader Crin Antonescu said Wednesday, after a meeting with democrat liberals, his party failed to reach an agreement with democrat liberals as they discard the principle according to which the government should be upheld by a parliament majority.

BCR Revises Up Romanian GDP Growth F’cast At -7.1% In ’09, +0.6% In ’10

14:36, 16 Dec. 2009

Banca Comerciala Romana revised up its forecast regarding Romania's economic growth, seeing now a 7.1% contraction in 2009 from previously expected 8%, according to BCR's chief economist Lucian Anghel.

Romanian Estate Agents Want Law Requiring Home Energy Certification Delayed

13:50, 16 Dec. 2009

The Romanian Association of Real Estate Agencies (ARAI) said the law which requires an energy certificate when carrying out real estate transactions will be hard to apply as of January 1, 2010 and requested its implementation be delayed until the second half of next year.

Bucharest’s Baneasa Airport Auctions Off EUR3.17M Safety Area Layout Works

13:50, 16 Dec. 2009

Bucharest international airport Aurel Vlaicu (Baneasa) will hold an auction for the layout of the safety area near the runway, a contract estimated at 3.17 million lei (EUR1=RON4.2459), VAT excluded.

E.ON Asks Romania’s Energy Watchdog For Gas, Electricity Price Hikes

13:24, 16 Dec. 2009

Germany’s E.ON, which activates on the Romanian natural gas and power distribution market, asked the country's energy regulatory authority ANRE to increase gas and electricity prices in 2010 by 15% and 12% respectively, but does not anticipate a favorable answer.

Ford National Sales Co In Romania To Sell, Service Ford Vehicles As Of Aug 2010

12:53, 16 Dec. 2009

The new Ford National Sales Company for Romania, established by Ford Europe, will take full responsibility for the marketing, sales and service of Ford vehicles as of August 2010 and Paul Flanagan will be general manager of the new company, Ford Europe said Wednesday.

Romania Likely To Get New IMF Loan Tranche In Feb

12:46, 16 Dec. 2009

Romania is likely to receive a third EUR1.5 billion loan tranche from the International Monetary Fund in February, IMF representative Jeffrey Franks said Wednesday.

Eight Trains Cancelled In Romania Due To Snow, Blizzards, Rail Traffic Sees Major Delays

11:45, 16 Dec. 2009

Eight trains will be cancelled Wednesday on the route linking Romania’s capital Bucharest to southeastern Constanta, while nine other trains register massive delays because of snow and blizzards, the passenger division of the state-owned railway company, CFR Calatori, said Wednesday.

Romania’s Reelected President Traian Basescu Pledges To Do Things Better In New Term

11:07, 16 Dec. 2009

Romania’s newly reelected President Traian Basescu said Wednesday, after the Constitutional Court validated him for a new term as president, that he plans to be a better head of state during his second term, adding he will be the president of all Romanians.

Romania’s President Validated For New Term Within Formal Ceremony

10:50, 16 Dec. 2009

Romania’s Constitutional Court Wednesday validated Traian Basescu for a new term as president of the country during a formal ceremony.

Romania’s PM-Designate Negoita Declines Position

09:50, 16 Dec. 2009

Romania’s Prime Minister-designate Liviu Negoita Wednesday said he declined the prime minister position, citing new “political movements” in Romania.

IMF Says Will Send New Review Mission To Romania In Jan

20:56, 15 Dec. 2009

The International Monetary Fund will send in January a new mission to Romania to assess the country’s performance in meeting the terms of a EUR20 billion IMF-led aid package, IMF official Jeffrey Franks said Tuesday.

Romanian Social Democrats Back Liberal Head Antonescu For PM

20:24, 15 Dec. 2009

The Romanian social democrats (PSD) approached the liberals (PNL) with a proposition for a government led by liberal head Crin Antonescu, backed by PNL and PSD, but also included the possibility for such a government to be supported by Hungarian minority party UDMR and the democrat liberals (PDL).

Romania, IMF Agree On 2010 Draft Budget

20:12, 15 Dec. 2009

Romanian and the International Monetary Fund have reached an agreement on the country’s budget for 2010, IMF representative Jeffrey Franks said Tuesday.

Romania’s President To Be Sworn In For Second Term On December 21

15:29, 15 Dec. 2009

Romania’s President Traian Basescu will be sworn in for a second term in office on December 21 during a plenary meeting of the two chambers of the Parliament, Senate representative Ioan Chelaru said Tuesday.

WB Team To Visit Romania This Week – Official

14:46, 15 Dec. 2009

A delegation of the World Bank will soon arrive in Bucharest to assess Romania’s performance regarding the measures included in the financing agreement with the international lender, officials of the World Bank’s office in Bucharest said Tuesday.

WB: Romania Worse Hit By Global Crunch Due To High Volume Of FX Loans, Inflation

14:10, 15 Dec. 2009

Romania and the Baltic countries have been hit worse by the economic downturn compared with states such as Poland and the Czech Republic due to the high volume of foreign currency loans and a slower disinflation process, according to Juan Zalduendo, lead economist at the World Bank.