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Romania 2Q GDP -1.2% QQ, -8.8% On Yr

11:10, 13 Aug. 2009
Romania’s second quarter gross domestic product shrank by a seasonally adjusted 1.2% compared with the earlier quarter, a flash estimate of the National Statistics Institute, or INS, showed Thursday.

Romanian Govt To Include Salary Bonus Scrapping In New Law Pack On Restructuring – Sources

10:10, 13 Aug. 2009
The Romanian government will scrap salary bonuses for risk and mental distress, confidentiality and mobility, as well as bonuses for job complexity and performance, and the new regulations will be introduced in a draft law for which the Government plans to take responsibility, official sources said.

Romania To Operate Budget Revision By End-Aug – Fin Min

09:40, 13 Aug. 2009
Romania’s budget will be revised in maximum two weeks, to adjust the deficit by lowering expenses and each minister will have to comply, finance minister Gheorghe Pogea told MEDIAFAX on Wednesday.

Romanian Govt Enacts Ordinance On „Spiru Haret” University

20:52, 12 Aug. 2009
Romanian university "Spiru Haret" needs to disband long distance education, organize elections for the position of rector and to complete law studies at four years, according to an Ordinance enacted Wednesday by the Government, legalizing the university.

Romanian Labor Ministry To Cut 1,316 Jobs

20:47, 12 Aug. 2009
Romanian labor minister Marian Sarbu said Wednesday that after the reorganization of the agencies and institutions subordinated to the ministry 1,316 jobs will be cut which would save RON30 million in wage spending a year (EUR1=RON4.2239).

Romanian Govt To Leave Presidential Elections Law Unchanged

19:58, 12 Aug. 2009
The Romanian Government will not amend the number of signatures needed for a candidacy in presidential elections, will not impose monetary guarantees for each candidate and will not amend other conditions for presidential candidacy, said Romanian Prime Minister Emil Boc.

Romanian Culture Min To Cut 200 Jobs, Save RON2M To The Budget

19:56, 12 Aug. 2009
The Romanian Ministry of Culture, Cults and National Patrimony (MCCPN) will cut over 200 jobs, which would save RON2 million (EUR1=RON4.2239) to the state budget, culture minister Theodor Paleologu said Wednesday.

Over 15,000 Romanian Cos Suspended Activity In Jul, Annual Toll Reaches 95,000

19:51, 12 Aug. 2009
Over 15,000 Romanian companies suspended their activity in July, bringing the number of companies that suspended their activity to 95,279 since the beginning of 2009, a number 11 times higher than the one registered in the similar interval of the previous year, according to the Trade Registry (ONRC)

Romanian Unitary Wage Law Quotients Reduced By 25% In New Draft

19:49, 12 Aug. 2009
The hierarchy quotients in the draft unitary wage law for the public sector were reduced by up to 25% following an analysis by the Romanian Ministry of Finance.

Romanian Fiscal Watchdog To Be Reorganized, 477 Job Scrapped

18:01, 12 Aug. 2009
Romanian National Authority for Fiscal Administration (ANAF) will be reorganized in order to improve fiscal control, decision taken after the discussions with the representatives of the International Monetary Fund, and 477 jobs will be cut, finance minister Gheorghe Pogea said Wednesday.

Romanian Health Ministry To Cut 627 Jobs- Minister

17:57, 12 Aug. 2009
Romania’s Health Ministry will scrap 627 jobs and most job cuts target the Public Health Departments and the National Medicines Agency (ANM), the country’s health minister Ion Bazac said Wednesday, adding the restructuring process does not target medical staff in the healthcare system.

Romania’s Interior Ministry To Scrap Over 1,225 Jobs And Save RON75M A Year

16:49, 12 Aug. 2009
Romanian interior minister Dan Nica said Wednesday, after the weekly government meeting, that the reorganization of the Interior Ministry implies cutting 1,225 jobs, which would save RON75 million in wage spending a year (EUR1=RON4.2239).

Romanian Tourism Min To Be Heard By Parliament Committee On Aug 20

16:48, 12 Aug. 2009
The Romanian Parliament investigation committee analyzing the expenses of the Ministry of Tourism decided Wednesday that tourism minister Elena Udrea is to be heard on August 20, according to the committee president, liberal Ludovic Orban.

IMF Official: VAT Increase Up To Romanian Govt

16:32, 12 Aug. 2009
A possible increase of the value added tax in Romania may only be decided by the government, but tax hikes should be unnecessary if the economy recovers sooner than expected, a top official with the International Monetary Fund said Wednesday.

Romanian Nuclearelectrica Renews Another Insurance Contract For Nuclear Reactors

15:02, 12 Aug. 2009
Romanian state-owned nuclear energy company Nuclearelectrica, the operator of Cernavoda nuclear power plant, renewed with UK’s Nuclear Risk Insurers Limited the civil liability insurance contract for nuclear damage at reactors 1 and 2, for a premium of $672,000.

Some 2% Of Romanian Townspeople To Move To Villages In 2010 – Gfk Romania

14:52, 12 Aug. 2009
Nearly 2% of the people that have been living in urban areas moved in the past year to the countryside, according to a survey by research company GfK Romania, which also showed that the same percentage of people plan to move in a rural area next year.

Romania’s 1H Curr Acct Deficit Narrows 73.3% YY To EUR2.37B

13:08, 12 Aug. 2009
Romania's current account deficit narrowed 73.3% in the first six months to EUR2.37 billion, from EUR8.88 billion in the same period a year earlier, due largely to a lower trade deficit, the central bank said in a statement Wednesday.

Romania 1H FDI Down 42.9% YY To EUR2.89B

13:06, 12 Aug. 2009
Foreign direct investments, or FDI, in Romania fell 42.9% on the year to EUR2.894 billion in the first six months from EUR5.07 billion in the corresponding period a year earlier, the central bank said Wednesday.

Twleve Romanians Injured In Car Accident Near Szeged, Hungary

12:23, 12 Aug. 2009
A Romanian bus went off the road and overturned near Szeged, southern Hungary, injuring 12 people, a spokesperson of the local police said on Wednesday, cited by Hungarian news agency MTI.

Romanian 1H Real Estate Transactions Dn 35% On Yr, Total Taxes Dn 63% On Yr- Notary Union

11:51, 12 Aug. 2009
The number of real estate transactions was down 34.8% on the year in the first half, at 162,724, while the value of taxes on property deal revenues dropped 63%, to 214.3 million lei (EUR1=RON4.2143), according to the National Union of Notaries Public In Romania, or UNNPR.

Romanian Govt To Set Salary Fund For State-Owned Cos – Act

11:17, 12 Aug. 2009
The Romanian Government must set the total salary fund for state-owned companies that receive subsidies or other financing from the state budget and the measure must be applied until the end of June 2010, according to the additional letter the government will send to the International Monetary Fund.

Romanian Airline Co Tarom To Launch Two New Bucharest – Satu Mare Flights

19:24, 11 Aug. 2009
Romanian airline company Tarom will introduce, starting with next week, two new round trip flights from Satu Mare to Bucharest, operating Mondays and Wednesdays.

Romania Pledges ‘Drastic’ Spending Cuts By Yearend

19:16, 11 Aug. 2009
The Romanian government has pledged “drastic” spending cuts on goods and services in the public sector, by 0.5% of the gross domestic product, according to the additional letter to a EUR12.95 billion standby agreement with the International Monetary Fund.

Ford’s Stake In Automobile Craiova Up At 97.07% In Takeover Offer

16:06, 11 Aug. 2009
US automaker Ford Motor Company, the majority shareholder of Romania’s auto assembly plant Automobile Craiova (AUCS.RO), bought a 0.34% stake in the plant following the takeover offer, hiking its stake at 97.07%, and will start the delisting procedures.

Romanian Liberals To Present New Law Pack On Education, September 1

15:23, 11 Aug. 2009
Romanian National Liberal Party will present in Parliament on September 1, at the beginning of the parliamentary session, its own law pack on education, which was rejected in March, Horea Uireanu, liberal vice-president in the Chamber of Deputies, said Tuesday.

Romanian Budget To Lose RON140M On Tax-Free Reinvested Pft – Fin Min

15:13, 11 Aug. 2009
The tax exemption on reinvested profit will deprive Romania’s budget of 140 million lei (EUR1- RON4.2143) starting with October, Finance Minister Gheorghe Pogea said Tuesday.

Romanian CFR Calatori To Receive 30% Less Subsidy In’09

14:57, 11 Aug. 2009
The passenger division of Romanian national railroad company CFR could receive from the state budget subsidy worth 612.24 million lei (EUR1 = RON4.2143) this year, which spells a 30.3% decrease from the RON878.28 million granted last year.

Romanian Police Officers’ Rent Problem Remains Unsolved – Unionist

14:42, 11 Aug. 2009
Romanian interior minister Dan Nica promised unionists that there is enough money to cover wages until the end of the year, but the problem of rents remains clearly without a solution, Vasile Lincu, head of the police officers union “Pro Lex”, said on Tuesday.

Romanian Procurement Watchdog Refuses To Present Files To Parl Inquiry Committee

14:15, 11 Aug. 2009
The parliamentary committee investigating Romanian tourism minister Elena Udrea decided on Tuesday to inform Prime Minister Emil Boc that the president of the Authority for Public Procurement refused to present the file regarding the public procurements made by the Tourism Ministry.

Romania Subsidizes Diesel Fuel By RON1/Liter For Autumn Farm Works

13:38, 11 Aug. 2009
Romania’s Agriculture Ministry will grant farmers a subsidy of 1 leu (EUR1=RON4.2143) for one liter of diesel fuel, used in autumn seeding works, minister Ilie Sarbu said Tuesday.

Romania To Operate Massive Layoffs Until June 2010 – Fin Min

13:24, 11 Aug. 2009
Romania’s finance minister Gheorghe Pogea said Tuesday that, although Romania’s letter of intent to the International Monetary Fund (IMF) does not contain any figures with respect to future staff cuts, the country’s commitment to cut spending by 0.6% of GDP entails massive layoffs until June 2010.

Romania’s State Domain Agency Will Lose 20% Of Its Staff Amid Restructuring – Agr Min

12:51, 11 Aug. 2009
Romanian agriculture minister Ilie Sarbu on Tuesday said the State Domains Agency will not be disbanded but its staff will be reduced by 20%.

Romanian State Employees To Take Unpaid Vacations, Work Less To Cut Costs

12:45, 11 Aug. 2009
Romanian public sector employees will take unpaid vacations between September and November, will shorten working hours to six from eight per day or simply work ten days less to cut budget spending by 0.3% of GDP, finance minister Gheorghe Pogea said Tuesday.

Romanian Police, Customs Unionists Protest Over Unpaid Rents

11:53, 11 Aug. 2009
Some 350 members of the Romanian Union of Police Officers and Customs Workers "Pro Lex" are protesting on Tuesday in front of the Ministry of Interior over the funds assigned to the sector and the unpaid rents for the upcoming months of nearly 12,000 officers.

Romania’s July CPI -0.07% MM, Annual Inflation Narrows To 5.06%

11:53, 11 Aug. 2009
The rise in Romanian consumer price index slowed down by 0.07 percentage points in July compared with the previous month, on lower food prices, while the annual inflation narrowed to 5.06%, the National Statistics Institute, or INS, said Tuesday.

Romania Revises Dn GDP Forecast To RON497.3B – Fin Min

11:42, 11 Aug. 2009
Romania has revised its forecast on the gross domestic product growth to 497.3 billion lei (EUR1-RON 4.2088) from RON531 billion, based on an economic contraction of 8%-8.5% in 2009, Finance Minister Gheorghe Pogea said Tuesday.

Romanian TV Producer Valeriu Lazarov Dies At 73

11:17, 11 Aug. 2009
Romanian TV producer Valeriu Lazarov, 73, died Tuesday morning in Madrid, Spain, according to his son Valerio, cited by publico.es.

Romania’s Wage Expenses To Drop 0.5% Annually, To Below 6% Of GDP By 2015 – IMF

16:13, 10 Aug. 2009
Romania’s budget spending on wages in the public sector will be lowered by an annual 0.5% of GDP starting 2010, to end below 6% of GDP in the next four to five years, the International Monetary Fund said Monday.

Romania Registered Other 50 New Cases Of AH1N1 Infection In The 3-9 August Interval

16:08, 10 Aug. 2009
Romania's National Center for Prevention and Control of Infectious Diseases announced other 50 cases of infection with the AH1N1 virus in Romania, in the 3-9 August week.

Romania Might Use IMF Money To Cover Budget Gap – Official

16:04, 10 Aug. 2009
The International Monetary Fund’s mission will recommend its Board to allow Romania allocate part of the coming two tranches from a total EUR12.95 billion aid to cover the country’s budget deficit, a top fund official said Monday.