English

Romania’s President Wants Talks With Political Parties On Govt’s Draft Budget

10:14, 20 Nov. 2009
Romania’s President Traian Basescu said Thursday evening on public television he will not promulgate the draft amendments to the Law on the organization of the Government empowering the Cabinet to draft the state budget for 2010 until he has talks with political parties.

Yes Vote In Referendum Should Trigger Constitution Revision – Romanian President

10:11, 20 Nov. 2009
Romania’s President Traian Basescu said Thursday evening on public television that Romania’s Constitution will need to be entirely revised if the November 22 referendum for a single-chamber Parliament gets a yes vote.

Romania Backs NATO Expansion To W Balkans, Serbia Is Key To Peace In Region – President

21:09, 19 Nov. 2009
Romanian President Traian Basescu said Thursday that Romania unreservedly supports NATO expansion to the Western Balkans, to include Montenegro, Bosnia-Herzegovina and Serbia, describing Serbia as the “key to peace” in the region.

ING Bank Romania Head: Ctrl Bk To Protect Leu At Any Cost

21:09, 19 Nov. 2009
Romanian central bank seems determined to spend as much as needed to support the leu, which is seen depreciating by year-end and further appreciating once with the revival of European markets, according to ING Bank Romania’s head Misu Negritoiu.

Romania Ready To Send More Troops To Afghanistan To Staunch Taliban Insurgency – President

21:04, 19 Nov. 2009
Romanian President Traian Basescu on Thursday said Romania is closely analyzing the possibility of increasing the number of troops in Afghanistan, adding that, "if Taliban forces are not defeated in Afghanistan, they will move on to the Caspian Sea and the Black Sea."

EIU Sees Stronger Romanian Leu In ’10, At 3.97 Units

18:35, 19 Nov. 2009
The Economist Intelligence Unit (EIU) expects the Romanian leu to stand at 4.33 units versus the euro at year-end, and to gain ground up to 3.97 units per euro at the end of 2010.

Romania To Donate 400,000 Doses Of Anti-Flu Vaccine To Moldova

17:21, 19 Nov. 2009
Romania will donate 400,000 doses of anti-flu vaccine to the Republic of Moldova, with details to be settled soon.

EIU: Romania-EU Relations Still Tense Over Thin Progress In Fighting Corruption

17:06, 19 Nov. 2009
Romania’s relations with the European Union remain complicated due to long-delayed reforms of the judiciary and high corruption levels, a report of the Economist Intelligence Unit (EIU) showed.

Romanian Ex-PM Tariceanu Says Govt Coalition With Democrats Is Possible But Unlikely

16:25, 19 Nov. 2009
Romania’s former prime minister, liberal Calin Tariceanu, said Thursday that if President Traian Basescu obtains a new term there could be a government formed by democrat liberals and liberals, but the alliance is unlikely given the “sad” experience previously gained in such an alliance.

Rompetrol Sees Romanian Fuel Pump Prices Up By 7% In ‘10

16:24, 19 Nov. 2009
Romanian fuel pump prices are likely to grow by 5% to 7% on the year to an average of 4.2 lei (EUR1=RON4.2778) per liter in 2010, on earmarked excise duty increases and potential higher crude oil prices, Rompetrol Downstream said Thursday.

IMF Likely To Give Romania Next 2 Tranches Mid March – Official

15:09, 19 Nov. 2009
The International Monetary Fund is likely to disburse the next two tranches of its EUR13 billion loan to Romania mid-March, IMF representative Tonny Lybek said Thursday.

Bucharest Appeals Court Rejects NGOs’ Request To Suspend National Referendum

15:06, 19 Nov. 2009
Romania will hold the national referendum to downsize the Parliament on the same day with the presidential elections due on November 22 after the Bucharest Court of Appeals rejected Thursday the request of non-government organizations to suspend the referendum as inadmissible.

Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09

12:32, 19 Nov. 2009
Romanian Finance Ministry revised upward its forecast for economic growth in 2009 and it now expects the gross domestic product to shrink by 7%-7.5%, from a decline of 8% initially estimated, a ministry official said Thursday.

Romania Fin Min: Hiking VAT, Flat Tax A Mistake

12:25, 19 Nov. 2009
Romania would make a “big mistake” to increase the value added tax and the flat tax, as changing them after the effort it took to keep them at the current levels would be procyclic policy, an official of the Finance Ministry said Thursday.

Tax Hikes Unavoidable If Romania Public Sectors Doesn’t Adjust – Ctrl Bker

11:40, 19 Nov. 2009
Romania won’t be able to avoid tax hikes in the coming period unless the authorities implement appropriate adjustments in the public sector, a central bank official said Thursday.

IMF: Parent Banks Reaffirm Commitment To Romania

10:49, 19 Nov. 2009
The parent banks of Romania’s top nine lenders on Wednesday reaffirmed their commitment to keep their exposure to the country and ensure capital adequacy levels over 10% for their subsidiaries, the International Monetary Fund said in a statement.

Romanian Subway Unionists Obey Court Decision, Halt Protests

19:52, 18 Nov. 2009
Romanian subway union leader Ioan Radoi said Wednesday that Metrorex employees will abide by court decision and resume normal subway traffic Thursday.

Bucharest Court Decides Subway Strike Is Illegitimate

19:44, 18 Nov. 2009
The Bucharest Court decided Wednesday that the general strike organized by subway employees is not legal and the protest is to be ceased.

Parent Bks Consider 5% Variation Band To Romania Exposure – Sources

16:39, 18 Nov. 2009
The parent banks of Romania’s top nine lenders, alongside officials of the International Monetary Fund, the European Commission and of Romanian central bank, are considering a 5% variation band to their exposure cap on the Romanian market, participants to the talks told MEDIAFAX Wednesday.

Invest Fund 3TS Cisco Growth Buys Minor Stake In InternetCorp

16:37, 18 Nov. 2009
Romania's online media company InternetCorp on Wednesday said the investment fund 3TS Cisco Growth bought a minor stake in the company, without disclosing either the deal value or the stake size.

Romanian Subway Unionists Reject Court Panel, Strike Legitimacy Trial Suspended

16:14, 18 Nov. 2009
Romanian subway unionists Wednesday rejected the Bucharest Court panel trying the legitimacy of their general strike after their exceptions were overruled and the trial has been suspended until the court decides whether to assign a new panel.

Romania Registered No Deaths Over AH1N1 Virus, But Reported 6 Severe Cases – Official

15:31, 18 Nov. 2009
Romania hasn't registered any deaths because of the AH1N1 flu virus so far, but six severe infection cases were registered and the patients are on life support, Health Ministry state secretary Adrian Streinu-Cercel told a news conference Wednesday.

Romania’s Public Debt Rises To 28.08% Of GDP In Jan-Sep

14:54, 18 Nov. 2009
Romania’s public debt rose to 28.08% of the gross domestic product at the end of September from 21.78% of the GDP at the end of last year, according to Finance Ministry data released Wednesday.

Romanian Court Trying Legitimacy Of Subway Strike Halts Debates On Technicalities

14:34, 18 Nov. 2009
The trial in which the management of Romanian state-owned subway company Metrorex calls on the Bucharest Court to rule on the legitimacy of its employees’ general strike was adjourned Wednesday on technicalities just minutes into the debates.

Romania Made No Capital Repairs On Railway Infrastructure Btw ’08-’09 – Transp Min

14:06, 18 Nov. 2009
Romania’s railroad company CFR SA made no capital repairs on the country's railroad infrastructure during 2008-2009, not on a single kilometer of railway track, although nearly 5,500 kilometers of railway tracks require urgent repair works, Romania's Transport Ministry said Wednesday in a report.

U.S. Backs No Candidate In Romania’s Presidential Race – Ambassador

12:24, 18 Nov. 2009
U.S. Ambassador to Bucharest Mark H. Gitenstein said Wednesday in a press release that the United States has no candidate in Romania’s presidential race due this weekend and no agency of the United States Government is taking actions to influence this race.

Accident-Free Romanian Drivers To Pay Less For Insurance In 2010

11:41, 18 Nov. 2009
Romanian insurance companies will introduce as of January 1, 2010 the bonus-malus system used in civil liability car insurance (RCA), whereby drivers who have not had an accident in 2009 will pay a 10% lower premium in 2010, Romanian insurance regulator head Angela Toncescu said Wednesday.

Romanian RCA Car Insurance Policies To Be Issued Electronically Only Starting 2010

11:39, 18 Nov. 2009
Mandatory civil liability car insurance policies (RCA) will be issued electronically only as of January 1, 2010, Angela Toncescu, head of the Romanian insurance regulator CSA, said Wednesday.

Bucharest Subway Strike Continues, Court Ruling Expected Wednesday

10:39, 18 Nov. 2009
Employees of state-owned subway company Metrorex continue their general strike Wednesday after a new round of failed negotiations over wage raises and the Bucharest Court is expected to rule on the strike’s legitimacy later in the day.

Campaign Staffs Of Romania’s Top Presidential Contenders Agree On Direct Debate Wednesday

09:43, 18 Nov. 2009
Romania’s Social Democratic Party election campaign spokesperson Victor Ponta recently said the election campaign staffs of Romania’s top presidential contenders agreed on a face-to-face debate Wednesday evening, at 8 p.m., at the Parliament Palace.

Two Foreign Bks Take Out EUR2B From Romania On Scarce FX Facilities – Sources

16:45, 17 Nov. 2009
Two international lenders have temporarily withdrawn EUR2 billion in capital from the Romanian market recently, because they were unable to invest in short-term foreign currency facilities, people from the central bank told MEDIAFAX.

Romanian Subway Employees Back To Work, Resume Strike Wednesday

16:42, 17 Nov. 2009
The Bucharest subway was open Tuesday at 4 p.m. after employees halted a general strike that caused major traffic jams across the city, but the protest will be resumed Wednesday.

Romanian Govt Ordinance Reorganizing Public Bodies Ruled Unconstitutional

15:32, 17 Nov. 2009
The Romanian Constitutional Court has ruled unconstitutional a government emergency ordinance reorganizing certain government bodies including the Antifraud Department and Government control department.

TI: Romania Seen As Most Corrupted EU Country, No Progress Since 2008

15:06, 17 Nov. 2009
Romania ranks last among European Union member states in 2009 in the Global Corruption Barometer by Berlin-based watchdog Transparency International (TI), which indicates Romania has made no progress in its fight against corruption since 2008.

Romania To Sell Energy Cos To Finance Investments – Consultant

14:47, 17 Nov. 2009
Romania will sell state-owned companies in the energy sector between 2010 and 2011, to get the money it needs for investments in the sector, according to consultancy firm Horvath & Partners.

Former F1 Pilot Alain Prost To Drive Dacia Duster Competition Model In Ice Race

14:27, 17 Nov. 2009
Former Formula 1 pilot Alain Prost will drive a Dacia Duster competition model in the French Andros Trophy ice racing championship, in a preview of the Romanian carmaker’s first SUV.

FOCUS: Bucharest Subway Strike – Political Games At People’s Expense

12:58, 17 Nov. 2009
People in Romania’s capital city Bucharest found subway entrances closed Tuesday morning because subway employees started a general strike demanding bigger wages, while the country has no legitimate government, holds presidential elections this weekend and is mired in recession.

Romania Has Oil&Gas Reserves For 15 Years – Agency Head

12:51, 17 Nov. 2009
Romania still has oil and natural gas reserves for about 15 years, while its coal reserves may ensure domestic consumption for 30 years, the National Mineral Resources Agency ANRM head said Tuesday.

EU Sends Romania Positive Signals On New Danube Power Plants

12:49, 17 Nov. 2009
Romania received encouraging signals from the European Union authorities and the Danube riverside countries about the country's plans to build new hydro-power plants on the Danube river in joint venture with Bulgaria, hydropower producer Hidroelectrica officials said Tuesday.

Bucharest Court Expected To Rule On Subway Strike Legitimacy Tuesday

10:29, 17 Nov. 2009
Romanian state-owned company Metrorex manager Gheorghe Udriste told MEDIAFAX the Bucharest Court has received a request to rule on the legitimacy of the subway strike started Tuesday.