companies

Romania Pledges Cos Under IMF Monitoring Will Cut Arrears By 2.5%

23:59, 10 Mai 2010
Romania’s Government pledged during negotiations with the International Monetary Fund and the European Commission that each of the ten state-owned companies under monitoring will reduce arrears by 2.5% each quarter, starting with July-September period.

Romanian Cos’ Budget Debts Rise To RON18.7B End-March

19:41, 10 Mai 2010
Romanian companies’ debts to the consolidated budget rose 8.5% in the first quarter, at 18.69 billion lei (EUR1=RON4.1641), most of them being unpaid obligations to the state budget, according to additional letter of intent to the agreement sealed with the International Monetary Fund.

Romanians To Receive 90 Million Text Messages From Companies In 2010 – Report

14:58, 10 Mai 2010
Romanian mobile phone users will receive 90 million informational and promotional text messages from companies in 2010, nearly 30% more on the year, said a report issued Monday by web2sms operator Netopia Sistem.

Romanian Economy Min Admits Some People Were Hired In State Cos For Political Reasons

14:29, 22 Apr. 2010
Romania’s Economy Minister admitted Thursday that certain employees in state-run companies have been hired on political criteria, adding 5,000 employees in these companies were laid off last year.

Debts Of Romanian Insolvent Cos Up 7% To RON458M In Feb

14:49, 06 Apr. 2010
The debts of Romanian companies undergoing dissolution to local banks rose 7% on the month in February, to 458 million lei (EUR1=RON4.0967), even though their number has slightly decreased, central bank data showed Tuesday.

Romanian Cos With Overdue State Debts To Face Penalties Fueled By Delay Period – Draft

21:24, 25 Mart. 2010
Companies with delays in payment of fiscal dues to the state budget will pay an interest on late payment twice lower than the current interest within the first 30 days from the payment due date, but penalties will be harsher after the 30-day deadline expires, according to a draft emergency decree.

Romanian Cos Undergoing Insolvency Have Cumulated Debts Of EUR2.5B

13:34, 17 Mart. 2010
Romania’s 32,00 companies that started insolvency procedures last year have cumulated debts of EUR2.5 billion, of which only about 10% was recovered last year, said Wednesday Arin Stanescu, head of the country’s union of insolvency practitioners UNPIR.

Cos In Romania Might Submit All Fiscal Statements Via e-Guvernare Until End-2010

17:44, 16 Mart. 2010
Companies in Romania might be able to submit all fiscal statements via a specific system on www.e-guvernare.ro until the end of 2010, as an inter-ministry committee is already working on the project, said Andrei Haas, head of the General Department of Large Taxpayers within tax authority ANAF.

Trade Register: 4,100 Romanian Cos Entered Insolvency In 2010

16:41, 16 Mart. 2010
The number of companies that started insolvency procedures in the first to months of 2010 exceeded 4,100, 35% more than in the same period a year earlier, according to data of the Romanian Trade Register Office, or ONRC.

Romanian Control Institutions Can’t Check Cos More Often Than Once Every Two Years

15:32, 11 Mart. 2010
Romanian specialized control institutions will be forbidden to verify the activity of firms more than once every two consecutive years unless they have firm grounds to do so, and will be fined between 1,500 lei (EUR1=RON4.0987) and RON2,000 if they infringe the law.

Romanian Government Set To Reduce Fiscal Red Tape For Companies

14:16, 11 Mart. 2010
The Romanian Government will allow companies to pay the bulk of debts to the state budget, and not just the penalties connected to the debt, and will reduce the number of required monthly fiscal statements, said Romanian Prime Minister Emil Boc.

Romanian Min: Cos Excessively Contesting Auctions Will Be Downrated At Future Auctions

12:21, 04 Mart. 2010
Romania’s Tourism and Regional Development Minister Elena Udrea said Thursday she wants construction companies that excessively contest public works auctions to be downrated at future auctions set up by the ministry.

Romanian Cos Hiring Jobless People Exempt From Paying Social Security For Six Mos

13:41, 23 Feb. 2010
Romania’s Government on Tuesday approved a decision whereby companies hiring in 2010 people who have been unemployed for at least three months will be exempt from paying social security contributions for the new employees for six months, as long as the new workers are kept for at least one year.

Romania Fin Min: Political Changes Justify Compensatory Payments To State Co Managers

14:56, 11 Feb. 2010
Romania’s Finance Minister Sebastian Vladescu on Thursday said that theoretically, the managers of state-owned companies operating in the public sector should get compensatory payments only as a form of protection, when discharged from office after a new governing power takes helm.

National Energy Holdings To Guarantee Loans Of Absorbed Cos

13:58, 08 Ian. 2010
The two national power holdings that Romania plans to set up will take over all the obligations of the absorbed state-owned companies, including the state-guaranteed loans, and will mortgage their assets to guarantee the loans’ reimbursement.

Over 75% Of Cos In Romania Lowered Training Budgets By 30-40% In 2009

12:43, 28 Dec. 2009
Over three quarters of companies operating in Romania lowered their training budgets by 30%-40% in 2009 because of the crisis and focused on in-house and online training, which led to a decrease of nearly 50% on the local training market, to EUR17.5 million, human resources experts said.

Romania Ranks 1st Among Six Eastern Europe Countries By Number Of Closed Companies – Survey

14:30, 19 Dec. 2009
Romania registered the highest percentage of companies closing down in 2008 and 2009 due to the economic crisis, according to a survey conducted by the World Bank in the June 2009 and July 2009 interval.

Romanian Insurers’ Contribution To Road Victims Protection Fund Reduced To 0.3%

15:55, 14 Dec. 2009
Romanian insurance companies issuing civil liability insurance (RCA) policies will contribute 0.3% of the RCA premiums collected to the Road Victims Protection Fund, as opposed to the 0.5% contributed right now, according to a decision of the Insurance Supervision Commission (CSA).

Romanian-German Co iQuest Wins Google Prize For Android Application

14:20, 10 Dec. 2009
Google awarded Romanian-German firm iQuest $100,000 for a software application which will be integrated into the Android operating system, developed by Google for mobile phones.

Romanian Bank Loans Lose Ground With Cos Nearing Flatline, Skeptical People – Bkr

17:55, 13 Nov. 2009
Banks cannot grant loans as companies that need money are “almost dead" and people do not trust the bank system, Credit Europe Bank regional manager Dorothea Nicolae said Friday.

Romanian Clunkers Program Expansion To Cos Could Boost Mkt By 15-20%

13:46, 13 Nov. 2009
The widening of the Romanian car park renewal program to include companies could lead to a 15%-20% growth in the new car market in 2010, while sales this year will not go beyond 130,000 units, ACAROM president Constantin Stroe told MEDIAFAX.

Romanian Cos Hit Harder By Crisis Than Public Sector – Fin Min

14:33, 12 Nov. 2009
Romanian private environment took a harder blow than the public sector in the financial crisis’ aftermath and the authorities will take measures to correct the asymmetry created, interim Finance Minister Gheorghe Pogea said Thursday.

IMF Asks Romania To Cut The Cord On Big Debtors – Official

19:33, 02 Nov. 2009
The International Monetary Fund recommended the Romanian authorities scrap subsidies for companies largely indebted to the state budget as of next year, an official of the Economy Ministry said Monday.

ESF Project Submission Deadline Extended In Romania Until Mar 31, 2010

15:57, 26 Oct. 2009
The deadline by which Romanian companies can submit projects to draw non-reimbursable funds made available through the European Social Fund (ESF) was pushed back to March 31, 2010, and applications worth a total EUR22.61 million have been selected so far, from the EUR142.4 million allotted.

Romanian Execs Afraid To Claim Penalties For Late VAT Refunds – Survey

19:18, 21 Oct. 2009
Only 3% of Romanian companies that filed for value added tax refunds have also requested penalty interest for payment delays, fearing potential repercussions from the authorities, according to a survey conducted by Deloitte Romania.

Romanian Cos Cut Benefits, Employees Accept Anything Just To Get Jobs – Survey

12:50, 19 Oct. 2009
Companies in Romania have cut down on the number of employees and reduced benefits because of the economic crisis, and employees have lowered their claims and accept roughly anything just to get a job, according to the results of a survey by Mednet Marketing Research Center released Monday.

113,000 Romanian Cos Suspended Ops In Jan-Sept, 11-Fold Higher YY

13:20, 13 Oct. 2009
About 113,000 companies suspended their activity in the first nine months of 2009, 11-fold higher from the same period a year earlier, the National Trade Register Office ONRC said Tuesday.

Romania Plans Harsh Measures To Discourage Challenges To Public Works Auctions

12:33, 05 Oct. 2009
Romanian President Traian Basescu said Monday Romania is working on harsh measures to discourage contractors from contesting public procurement auctions they don’t win and block public infrastructure works.

Romania’s Petrom Gains Top Spot Among Biggest SEE Companies

13:42, 23 Sept. 2009
Romania’s largest oil company Petrom (SNP.RO) ranks first in a top comprising 100 biggest non-banking companies in Southeastern Europe by 2008 total revenues, compiled by business information portal SeeNews in partnership with consultancy firm Roland Berger.

Romanian Justice Minister Wants To Change Cos Registration Sys

19:50, 21 Sept. 2009
Romania’s Justice Minister Catalin Predoiu proposes the Government to change the system used when registering companies at the National Trade Register Office, so that it no longer involve judges, since 17,200 cases are blocked at the institution by the magistrates’ protest.

Leasing Companies To Report On Overdue Payments To Romanian Bank Risk Central

14:17, 09 Sept. 2009
Leasing companies included in the National Bank of Romania’s Special Registry are compelled to register with the Bank Risk Central by December 30, where they will report on clients’ overdue payments, the Association of Financial Companies – ALB Romania 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)

Minimum Tax Brings Extra EUR65M To Budget – National Fiscal Administration Agency

20:49, 31 Iul. 2009
Around 65% of the companies will pay the minimum tax, worth 291.7 million lei (EUR1=RON4.2127), or 12% of the total profit tax declared by July 25, while, by applying the 16% flat tax they would have only paid RON22.25 million, said Sorin Blejnar, head of National Fiscal Administration Agency ANAF.

Romania To Scrap Over 19,000 Jobs In July-October ’09

15:37, 09 Iul. 2009
Romania will scrap 19,209 jobs July through October this year and 184 companies countrywide notified local employment agencies about layoff plans until Wednesday, the national employment agency ANOFM said Thursday.

Half Of Romanian Cos With Over 50 Employees Resorted To Layoffs In ’09 – Survey

14:17, 07 Iul. 2009
More than half of Romanian companies with over 50 employees resorted to layoffs in 2009 to cut costs, due to the economic crisis, according to a survey conducted by market researcher Mercury Research.

Romanian Cos Targeting 6-Mo Budget Debt Payment Delay To Submit Bk/Property Guarantees

15:07, 01 Iul. 2009
The Romanian companies aiming to postpone paying budget debts for a six-month period will be compelled to guarantee the subsequent debt reimbursement through banking and/or real estate letters of guarantee, which need to cover the deferred amounts and any delay penalties.

Romanian Econ Min-Owned Cos To Hike Salaries By 5% In ’09

16:32, 18 Iun. 2009
The gross salaries of the employees with 26 companies owned by the Romanian Economy Minister will increase by 5% in 2009, to cover the projected inflation rate.

Romanian Energy, Chemical Plants To Use Only Local Gas For 6 Mos – Draft

18:17, 27 Mai 2009
Romanian electricity and thermal power producers and chemical plants will receive, in the May 1-September 30 period, only natural gas from local producers, which is cheaper compared with the imported gas, in order to better deal with the economic crisis and avoid laying off 9,000 employees.

A Third Of Romanian Companies To Make Layoffs In ’09 – Survey

14:47, 11 Mai 2009
More than 30% of private companies in Romania will make lay off staff in 2009 to cut costs, while 41% of the companies planned a lower salary budget this year because of the economic turmoil, according to a survey of research company Hewitt Associates.

Foreign Contribution To Romanian Cos Shr Cap At EUR1.1B In 1Q, Dn 20% On Yr

17:42, 06 Mai 2009
Foreign investments as contributions to the share capital of Romanian companies totaled around EUR1.1 billion in the first quarter of 2009, down 20% from EUR1.39 billion in the corresponding period a year earlier, according to Trade Registry data.