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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.

Foreign Banks May Withdraw Money From Romanian Subsidiaries If They Want – Official

14:24, 30 Oct. 2011

Romania’s representative to the International Monetary Fund, Mihai Tanasescu, said Sunday foreign banks’ local subsidiaries may transfer money outside the country should mother banks ask for it.

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.

Romanian Tourism Min Awards EUR3.2M Consulting Contract For Tourism Brand Promotion

15:53, 28 Oct. 2011

The Romanian Tourism Ministry awarded a EUR3.2 million contract to firm EMC South Central Europe-The Network, which will provide consulting services to promote the country’s tourism brand, the ministry said in a press release Friday.

President: Romania To Further Reduce Number of Public Sector Employees

11:51, 28 Oct. 2011

Romania will continue to reduce the number of public sector employees, “especially in public administration,” President Traian Basescu said Thursday on public television.

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.

Romania Has Two Months To Transpose Data Retention Directive Into National Law

17:53, 27 Oct. 2011

The European Commission (EC) on Thursday asked Romania and Germany to ensure within two months full compliance with EU rules on data retention.

Romanian Car Repair Shops Might Double Prices Following Authorization Tax Hike

15:00, 27 Oct. 2011

The Romanian Association of Independent Car Repair Shops (ASSAI) said Thursday service garages might have to raise repair prices following a decision by the Romanian Auto Registry (RAR) to increase annual repair shop authorization taxes.

Romanian Mining Industry Unions Threaten Protests Over Lack Of State Aid

12:50, 27 Oct. 2011

Unionists in the Romanian mining industry on Thursday threatened they will stage protests as the Government failed to take any decision to support miners.

Romanian Soldier Injured In Insurgent Attack In Afghanistan

10:00, 27 Oct. 2011

Romanian sergeant Marian Nicula of the 495 Battalion serving in Afghanistan was injured Tuesday evening in an insurgent attack on NATO coalition forces and will be taken to a hospital in Germany, the Romanian Ministry of Defense said late Wednesday.

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.

PM: None Of Romania’s 2012 Budget Scenarios States Wage Cuts, Taxing Pensions

16:23, 25 Oct. 2011

The Romanian Government will propose a prudent draft 2012 budget, which should protect Romania from major risks if the situation in Europe does not improve, and none of the budget scenarios states wage cuts or taxing pensions, Prime Minister Emil Boc said Tuesday.

King Michael Of Romania Delivers First Speech In Parliament After Abdication In 1947

12:59, 25 Oct. 2011

Romania’s former king, Michael I, addressed the Parliament Tuesday, on his 90th birthday and 64 years after his forced abdication in 1947.

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.

Romanian Opposition Wants VAT Cut To 19% To Vote On Draft 2012 Budget

14:24, 24 Oct. 2011

Romanian opposition Social Democratic Party leader Victor Ponta said Monday the Social Liberal Union will vote on the draft budget for 2012 only if social security contributions are cut by 10% and the value added tax to 19%.

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 Will Neither Cut Nor Tax Pensions In 2012 – Ruling Party Official

15:31, 21 Oct. 2011

Romanian ruling Democratic Liberal Party secretary general Ioan Oltean said Friday pensions will neither be cut nor taxed in 2012.

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.

PM: Romanian Govt Wants EU Fund Absorption Rate Of At Least 20% In 2012

16:56, 20 Oct. 2011

Romanian Prime Minister Emil Boc said Thursday the Government wants Romania to reach a European fund absorption rate of at least 20% in 2012, as the money attracted will help the country’s economy.

Romanian Govt Held No Talks On Introducing New Taxes To Allow For Pension Hike – PM

16:20, 20 Oct. 2011

Romanian Prime Minister Emil Boc said Thursday the Government has not held talks on introducing new taxes to allow for future pension increases.

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.

Romanian President Urges Adoption Of Social Welfare, Magistrates Statute

12:38, 20 Oct. 2011

Romanian President Traian Basescu urges the Parliament to speed up the adoption of the social welfare law and a bill amending the statute of Romanian magistrates.

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 President Wins Suit Against Businessman Dinu Patriciu

19:07, 19 Oct. 2011

Romanian President Traian Basescu on Wednesday won his suit against businessman Dinu Patriciu and demanded the payment of 1 leu (about EUR0.23) in damages for “lies and fabricating footage”.

Michelin: Romanian Winter Tire Market Surged 130% In Jan-Sept To 1.46M Units

19:06, 19 Oct. 2011

The Romanian winter tire market increased by up to 130% in the first nine months of the year compared with the same interval a year ago, to 1.46 million units, Alina Ghica, marketing director of tire manufacturer Michelin Romania, told MEDIAFAX Tuesday.

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.

Romania’s Govt OKs Bill Ratifying U.S.-Romanian Antimissile Shield Agreement

16:04, 19 Oct. 2011

The Romanian Government on Wednesday approved the draft law ratifying the U.S.-Romanian agreement on the deployment of a U.S. ballistic missile defense system in Romania.

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.