English

Oxford Economics Revises Up Romania’s 2011 GDP Growth To +0.1%

16:32, 16 Feb. 2011
Oxford Economics revised its forecast for Romania’s economic growth in 2011 from a negative 1% to a “marginal” increase of 0.1%, but warned that the main growth catalyst, the exports, is also a vulnerability.

Romanian Proprietatea Fund Could Pay RON0.0156 Dividend

16:10, 16 Feb. 2011
Romanian investment fund Fondul Proprietatea (FP.RO) could pay a gross dividend of 0.0156 lei per share (EUR1=RON4.2584) from last year’s profit, much lower than the one paid a year earlier, according to a memo sent Wednesday to the Bucharest bourse.

Romanian Carmaker Dacia To Launch Minivan, City Car Models In 2011

14:45, 16 Feb. 2011
Romanian carmaker Dacia, owned by French group Renault, will launch two family car models this year, a minivan that will cost EUR14,800, which could be called Popster, and a city car derived from a light commercial vehicle, according to L'Automobile Magazine.

Romanian Online Retailer eMag ’10 Sales Up 60%, To EUR102M

14:19, 16 Feb. 2011
Romanian IT&C online retailer eMag Wednesday said its sales rose 60% year-on-year in 2010, to EUR102 million, due to attracting new corporate clients, a larger product range and better organization processes.

EXCLUSIVE: Romanian President Pushes For Technocrat PM

13:37, 16 Feb. 2011
Romanian President Traian Basescu told local democrat liberal leaders in a meeting Tuesday evening they need to convince lawmakers the country needs a technocrat for prime minster, sources at the meeting told MEDIAFAX.

Romanian Carmaker Dacia Ranked 7th In CEE By No. Of Cars Sold In ‘10

13:17, 16 Feb. 2011
Romanian carmaker Dacia is ranked seventh in Central and Eastern Europe regarding the number of cars sold in 2010 and Dacia Logan is the third best selling car brand, according to automotive business intelligence provider JATO.

Bucharest City Mall Auctioned Off For At Least EUR33M

13:04, 16 Feb. 2011
Bankrupt City Mall shopping center in Romania’s capital city Bucharest will be put up for sale at the end of March at a starting price of EUR33 million, judicial administrator Casa de Insolventa Transilvania said in a statement Wednesday.

Romanian Integrity Agency Checks Union Leaders’ Wealth Amid Corruption Accusations

12:26, 16 Feb. 2011
Romania’s Integrity Agency (ANI) have started checking the wealth of union leaders after a former customs worker accused Sed Lex union leader Vasile Marica of bribe taking.

Romanian Broadcasting Code Bans Ads For Prescription Drugs

16:52, 15 Feb. 2011
Promoting prescription medicine is forbidden on Romanian TV or radio, but broadcasters are allowed to advertise medical practices, clinics and pharmacies, according to amendments to Romania's broadcasting Code, adopted Tuesday by the National Audiovisual Council (CNA).

Romanian Democrat Liberal MP Investigated For Corruption Decides To Quit Party

14:28, 15 Feb. 2011
Romanian democrat liberal MP Dan Pasat, who is being investigated on charges of blackmail, told MEDIAFAX Tuesday that he decided to quit the party.

Orange, Vodafone Romania Fined EUR63M For Abuse Of Dominant Position

13:50, 15 Feb. 2011
Romania’s Competition Council fined mobile operators Orange Romania and Vodafone Romania EUR63 million for abuse of dominant position, Competition Council president Bogdan Chiritoiu said Tuesday.

Romanian Guarantee Fund ’10 Payments To Banks Rise To RON95M

13:12, 15 Feb. 2011
Romanian SME loan guarantee fund FNGCIMM paid some 95 million lei (EUR1=RON4.2496) to banks last year, up 35% from RON70 million in 2009, mostly for working capital loans.

Fmr Customs Worker Accuses Romanian Union Leader Of Bribe Taking

11:50, 15 Feb. 2011
A former customs worker at the southern Romanian Giurgiu crossing point said Sed Lex union leader Vasile Marica took bribes from customs employees to have them promoted or kept in their jobs.

Romanian Senate Validates 8 Magistrates Council Members

10:51, 15 Feb. 2011
Romania’s Senate validated Monday the eight members of the High Council of Magistrates whose candidacy the Constitutional Court ruled legal.

Romania 2010 GDP Down 1.2% On Year, Less Than Expected

10:13, 15 Feb. 2011
Romania's economy shrank at an annual rate of 1.2% in unadjusted terms in 2010, a slower pace than initially predicted, according to a flash estimate of the country’s statistics institute released Tuesday.

Romanian TV Stations Violating Personality Rights Fined RON60,000-200,000 – Bill

19:34, 14 Feb. 2011
Romanian TV and radio stations breaching legislation on "personality rights," "protection of dignity" or "presumption of innocence" may get fined between 60,000 and 200,000 lei (EUR1=RON4.2490), according to a bill amending the Law on audiovisual broadcasting.

Romanian Cable TV Providers Not Required To Carry Private Stations – Bill

19:32, 14 Feb. 2011
Romanian cable TV providers will no longer be obliged to carry private TV stations, according to a bill amending the Law on audiovisual broadcasting, put forward by a number of democrat liberal MPs.

About 1,000 Romanians Protest Against Sale Of Hallucinogenic Plants

16:35, 14 Feb. 2011
About 1,000 Romanians protested Monday in the Victoriei Square in capital Bucharest against the sale and consumption of psychedelic plants.

Colliers: Romanian Land Prices To Stay Within Ranges

15:05, 14 Feb. 2011
Romanian land prices should not decrease greatly in the near future, and adjustments should fit within negotiation margins, real estate consultancy firm Colliers said Monday.

About 5,500 Romanian Miners Might Be Put On Furlough Until 2013

14:52, 14 Feb. 2011
About 5,500 Romanian miners working at National Lignite Company SNLO and thermal power plants Turceni, Rovinari and Craiova might be put on furlough in the next two years, National Union Bloc (BNS) vice-president Ioan Pisc said Monday, after talks with Labor Minister Ioan Botis.

Romanian Govt Opposes Bill Introducing Civil Unions

14:03, 14 Feb. 2011
Romania's Government opposes the introduction of civil unions, which can provide legal recognition for domestic partnerships, including same-sex unions, arguing that the only form of domestic relationship allowed under the Civil Code is marriage between two people of different genders.

Romania’s Population Decreased By 6,979 People In Dec 2010

11:31, 14 Feb. 2011
Romania's population decreased by 6,979 people on the month in December 2010, according to data released Monday by the National Statistics Institute (INS).

Romanian MPs Draft Bill Forcing Supermarkets To Designate Areas For Traditional Romanian Products

11:28, 14 Feb. 2011
Two Romanian lawmakers have submitted a bill in Parliament that would force supermarkets to have special designated areas for traditional Romanian products, in a bid to support the local economy.

Romanian Electrica Serv Cut 1,400 Jobs This Year

11:27, 14 Feb. 2011
Romanian Electrica Serv, the maintenance unit of state-run electricity supplier and distributor Electrica, cut some 1,400 jobs since the beginning of the year, a measure included in the company’s restructuring process.

Romania Jan CPI +0.8% On Month, Annual Inflation Eases To 7%

10:59, 14 Feb. 2011
Romanian consumer prices rose 0.77% on the month in January, while the annual inflation eased to 6.99%, the country’s statistics institute INS said Monday.

Bucharest Hotel Occupancy Rate Seen 10% Higher In 2011

15:48, 13 Feb. 2011
The occupancy rate of Bucharest's three- and four-star hotels will rise this year by about 10%, having increased in 2010 to 42% from 39%, according to the Bucharest Benchmarking Report, developed by consulting firm Fivestar Hospitality.

Romania Plans To Write Off Debts Of Defense Industry Cos

13:22, 13 Feb. 2011
Romania plans to write off debts of 1 billion lei (EUR1=RON4.2649) of companies in the defense industry, citing a EU norm which allows the protection of the national military interest and arguing that foreclosing their assets would impact defense capabilities.

Romania’s Top Two Road Passenger Carriers Expect 10% Growth This Year

13:13, 13 Feb. 2011
Romania's top two road passenger transporters expect 10% higher turnover this year, one of them hoping for a better economic environment, the other counting on people traveling in search of work.

Romanian Dacia Duster Was Best Sold SUV On Local Market In 2010

13:12, 13 Feb. 2011
The Dacia Duster, Volkswagen Tiguan and Ford Kuga were the best sold SUVs on the Romanian market in 2010, with the Duster far in the lead, thanks to a market share of almost 40%, according to the data of the Romanian Car Producers and Importers Association (APIA).

Romanian Banks Post First Annual Loss Since 1999

12:52, 13 Feb. 2011
Romanian banks reported combined losses of 304 million lei (EUR1=RON4.2649) in 2010, for the first time in 11 years, people familiar with the matter told MEDIAFAX Friday.

Romanian Family Doctors Reject Healthcare Contract, Threaten Lawsuit Against Govt

18:25, 12 Feb. 2011
Romanian family doctors decided Saturday not to sign the frame-contract with the National Health Insurance House and are prepared to take the government to court, over provisions which breach the rights of patients and physicians.

Romanian Comm Min To Run EUR84M Project For Universal Internet Access

16:12, 12 Feb. 2011
Romanian Communications Minister Valerian Vreme said Saturday that his ministry will carry out a EUR84 million project (funded by the European Union) to provide Internet access to the remaining unconnected areas in the country.

Bancpost: Romania Economic Recovery Threatened By High Inflation

19:21, 11 Feb. 2011
Romanian economic recovery could be slowed down by a high inflation in 2011, as rising food and fuel prices on international markets threaten to drive local prices up, Dan Bucsa, chief economist at Romanian bank Bancpot said Friday.

Romanian PM, Social Partners Fail To Agree On Collective Labor Contracts

17:24, 11 Feb. 2011
Romanian Prime Minister Emil Boc and social partners on Friday failed to find common ground on issues concerning national collective work contracts and a final decision on the changes to the Labor Code will be taken by the ruling coalition next week.

Romanian PM, Unions, Employers Resume Talks On Labor Code

14:28, 11 Feb. 2011
Romanian labor union and employer association representatives on Friday resumed talks with Prime Minister Emil Boc on the planned changes to the Labor Code, with national collective labor contracts at the forefront of debate.

Romanian State-Run Railway Co To Close 20% Of Network Unless It Outsources Railway Maintenance

12:58, 11 Feb. 2011
Romania’s state-owned railway company CFR SA will close 20% of the country's railroad network, about 4,000 kilometers of railway lines, unless it finds investors to ensure their maintenance, reads the letter of intent agreed upon by the Government and the International Monetary Fund.

Dacia, Nokia, Petrom, Rompetrol, Romania’s Top Exporters In 2010

12:49, 11 Feb. 2011
Romanian carmaker Automobile Dacia, the Romanian unit of Finnish mobile giant Nokia, oil company OMV Petrom and oil refinery Rompetrol Rafinare were the country’s top exporters in 2010 both in the European Union and outside the EU, the Economy Ministry said Friday.

Romanian MP Investigated For Corruption Under Travel Ban

11:34, 11 Feb. 2011
Romanian democrat liberal MP Dan Pasat, who is being investigated on charges of blackmail, was placed under a travel ban.

Romania 2010 Current Account Deficit Widens 5% YY To EUR5.2B

11:07, 11 Feb. 2011
Romania's current account deficit widened 5% to EUR5.16 billion in 2010, from a gap of EUR4.91 billion in the previous year, due to the lower current transfers surplus and an increasing deficit of the incomes balance, central bank data showed Friday.

EXCLUSIVE: Romania Ctrl Bank To Report EUR2B Drop In Reserves Under IMF Deal

10:51, 11 Feb. 2011
Romania’s central bank has pledged to consult with the International Monetary Fund if its reserves are to drop by over EUR2 billion in any given month during the country’s two-year follow up agreement with the fund, according to a draft letter of intent agreed with the IMF.