romania

ING: Court Ruling To Plunge Romania Into Political Turmoil

23:37, 25 Iun. 2010
Romania is likely to face a period of political uncertainty after the Constitutional Court rejected part of the government’s austerity plans to slash public spending, putting downward pressure on the leu and increasing financing costs, an official at ING Romania said Friday.

IMF Could Halt Tranche If Romania Unable To Make Fiscal Adjustments – RBS

23:32, 25 Iun. 2010
Romania’s EUR13 billion loan agreement with the International Monetary Fund could come to a halt unless the government is able to legislate fiscal adjustments in time for a new disbursement, RBS analyst Timothy Ash told MEDIAFAX Friday.

Floods Affect 28 Romanian Counties From Wednesday Until Friday

18:55, 25 Iun. 2010
About 156 localities in 28 Romanian counties were affected by heavy rainfall and floods from Wednesday until Friday, and four people died following freshets in Alba, Cluj and Suceava counties, the General Inspectorate for Emergency Situations, or IGSU, said Friday.

Romania’s Govt To Disclose Alternative Austerity Plan After Talks With IMF, WB – Interior Min

18:08, 25 Iun. 2010
Romanian Interior Minister Vasile Blaga said Friday that the Government will bring out its alternative austerity plan after discussions with the International Monetary Fund and the World Bank.

Romania Ctrl Bk: Tax Hikes Not Enough To Reduce Deficit

17:12, 25 Iun. 2010
Romanian economy may temporarily benefit from raised taxes, but such a measure will be insufficient to reduce the budget deficit to 6.8% of the gross domestic product, a central bank official said Friday.

Moody’s Says Romania Rating Endangered If Budget Gap Exceeds Target

16:14, 25 Iun. 2010
Romania’s sovereign outlook could come under downward pressure if the government fails to lower the budget deficit to 6.8% of the gross domestic product in 2010, Moody’s Investors Service said Friday.

Romania CDS Higher After Court Ruling On Austerity Measures

15:36, 25 Iun. 2010
Credit default swaps (CDS) to insure Romanian sovereign debt against default inched higher Friday, after the country’s Constitutional Court rejected part of the austerity measures proposed by the government to slash spending.

Romania Collected About EUR350,000 In Fines For Medical Leave Condition Breaches – Health Min

14:12, 25 Iun. 2010
Romania collected about EUR350,000 in just one month from fines applied to employees who took groundless sick leaves, and a total EUR140,000 were collected only in the June 7 to June 11 interval, the Health Ministry said in a press release Friday.

Swiss Govt Approves CHF181M Non-Reimbursable Financial Aid For Romania

14:58, 24 Iun. 2010
The Swiss Government on Wednesday approved a frame agreement, whereby Romania will receive non-reimbursable funds worth CHF181 million (nearly EUR130 million) in the next five years.

Romania May Be Split Into New Development Regions After 2013 – Minister

13:39, 24 Iun. 2010
Romania’s Development and Tourism Minister Elena Udrea on Thursday said Romania could face a new regional division after 2013 when new development regions are likely to be created, besides the country's current eight development regions.

Romania Remains Transit Route For Heroin Traffic Toward Western Europe- UN Report

12:48, 24 Iun. 2010
Romania remains a transit route used by traffickers transporting heroin from Afghanistan toward Western Europe, according to the United Nations Office on Drugs and Crime “World Drug Report 2010”, which notes numerous alleged Romanian traffickers have been arrested in Spain and Italy.

Romanian Soldiers Killed In Afghanistan Awarded Wartime National Order Star Of Romania

12:34, 24 Iun. 2010
Romania’s President Traian Basescu Thursday signed the decree awarding the wartime National Order Star of Romania with the rank of Knight to the two Romanian soldiers killed in Afghanistan Wednesday.

Romania Needs Territorial Reorganization But Not On Ethnic Criteria – PM

11:50, 24 Iun. 2010
Romania’s administrative and territorial reorganization is necessary, considering the eight development regions no longer meet necessities, and the reorganization must be in line with the Constitution, Romanian Prime Minister Emil Boc said Thursday during a seminar on territorial reorganization.

Romania’s Tax Evasion Decree Published In Official Journal, Enters Force

11:05, 24 Iun. 2010
Romania’s emergency decree aiming to fight tax evasion, which drops plans to apply VAT on intra-EU trade and reintroduce excises on luxury items, has entered force after it was approved by the Government and was published in the Official Journal.

Romanian State Employees’ Wages Might Rise 7% In 2011 If 70,000 Are Laid Off – Fin Min

08:55, 24 Iun. 2010
Romanian Finance Minister Sebastian Vladescu said Wednesday that state employees’ wages might increase by an average 7% in 2011 if 70,000 people are laid off and the state continues to pay a 13th salary.

Romanian Freelancers To Pay Social Security Contributions

18:34, 23 Iun. 2010
Romanians who gain income from freelance activities will pay a 16.5% social security contribution, as any other employee, but only for sums that amount to five average gross salaries per year, namely 10,000 lei (EUR1=RON4.2234), Finance Minister Sebastian Vladescu said Wednesday.

Romania’s National Defense Strategy Lists Media Pressure Among Weaknesses

15:32, 23 Iun. 2010
Romania’s National Defense Strategy, sent to the Parliament for debates and approval, states that Romania faces some weak points which affect the image of the country’s state institutions and hinder the enforcement of laws.

Romania’s Deputies Adopt Articles Of Law Allowing Govt To Issue Decrees During Parliament Recess

15:00, 22 Iun. 2010
Romania's Chamber of Deputies Tuesday adopted the articles of the draft law allowing the Government to issue decrees during the Parliament recess, in sectors stipulated in the country’s Constitution, including the budget revision field, and a final vote will be cast on Thursday.

Romania Ranks 28th In Intl Retailers’ Preferences – Survey

21:07, 21 Iun. 2010
Romania dropped five positions this year and ranked 28th in a top of the 30 most attractive emerging countries for international retailers, according to a survey conducted by consultancy firm A.T. Kearney.

Chinese Constructor Hoyo Starts Tractor Production At Rasnov Plant, C Romania

16:22, 21 Iun. 2010
Chinese company Hoyo started the production of tractors at the plant in Rasnov, central Romania, and the first tractor output will be ready mid-July, Rasnov plant representative Denisa Vasilescu told MEDIAFAX Monday.

Fitch: Fiscal Consolidation Vital To Restore Confidence In Romanian Economy

14:06, 21 Iun. 2010
Romania needs an overhaul of the public sector to restore fiscal sustainability and regain investors’ confidence in the economy as a whole, an official at Fitch Ratings said Monday.

EP Asks EC To Enforce Rail Liberalization In Several Member States, Including Romania

16:43, 17 Iun. 2010
The European Commission (EC) should launch infringement procedures against member states which have not yet opened up their rail networks to competition, says a resolution adopted Thursday by the European Parliament (EP), which names Romania as one of the offenders.

Proceduri de infringement în sectorul feroviar contra mai multor ţări, inclusiv România

15:58, 17 Iun. 2010
Comisia Europeană (CE) ar trebui să declanşeze fără întârziere proceduri de infringement împotriva statelor membre care nu au deschis competiţiei reţelele de cale ferată, între care se află şi România, potrivit unei rezoluţii adoptate, joi, de Parlamentul European (PE).

European Parliament OKs Romania’s, Bulgaria’s Accession To Schengen Information System

15:01, 17 Iun. 2010
The European Parliament adopted the European Council’s decision whereby Romania and Bulgaria meet the data protection criteria needed to join the Schengen Information System (SIS), the database used by border control agents to exchange information in the fight against crime and illegal immigration.

Romania Sacks Road Auth Staff Accused Of Taking Bribe From AC/DC Staff

12:09, 17 Iun. 2010
Romanian Transport Minister Radu Berceanu told a news conference Thursday that the ten employees of local road department DRDP in Timisoara, western Romania, who exacted EUR50 for each of the 29 cars carrying rock band AC/DC’s equipment for a concert in Bucharest, were sacked.

Romania PM Urges Ministers To Cut High Bonuses, Threatens To Sack Defiers

10:22, 17 Iun. 2010
Romanian Prime Minister Emil Boc told ministers, during a Government meeting held Wednesday evening, that wage bonuses granted to employees of public institutions are way too high and asked them to cease the payment of such incentives, people close to the matter told MEDIAFAX Wednesday.

Romanian Govt Adds Eight New Substances To Banned Hallucinogenic Product List

20:21, 16 Iun. 2010
Romania’s Government approved Wednesday a decision whereby eight other substances have been added to the list of banned hallucinogenic plants and products.

Romania’s Recently Adopted Austerity Plan Challenged With Constitutional Court

16:25, 16 Iun. 2010
Romanian Liberal Party Wednesday challenged with the Constitutional Court the Government’s two spending cut laws aimed to bring the country’s economy on track, in a move to prevent the enforcement of the drastic social measures they entail.

Romanian Govt Does Not Meet Minimum Standards For Elimination Of Human Trafficking– USA Report

20:47, 14 Iun. 2010
The USA’s State Department writes, in its annual report on human trafficking, that the Government of Romania does not meet the minimum standards for the elimination of trafficking and criticizes the reorganization of the National Agency against the Trafficking of Persons.

Romania Is Source, Transit, Destination Country For Human Trafficking – USA Report

20:44, 14 Iun. 2010
The USA’s State Department writes, in its annual report on human trafficking, that Romania is a source, transit, and destination country for men, women, and children subjected to trafficking in persons, specifically for forced labor, and for women and children trafficked for forced prostitution.

Nobel Literature Prize Winner Herta Muller To Visit Bucharest Sept 27- 28

20:37, 12 Iun. 2010
Herta Muller, winner of the 2009 Nobel Prize for Literature, will come to Bucharest on September 27-28, when the Humanitas publishing house launches an author series dedicated to her, within a wider campaign marking the publishing house’s 20th anniversary.

Romania Jan-May Budget Gap Widens To 3.2% Of GDP – Sources

17:48, 11 Iun. 2010
Romanian consolidated budget posted a deficit of 16.5 billion lei (EUR1=RON4.2163) in the January-May period, amounting to 3.23% of the gross domestic product, government sources said Friday.

Romania Per Capita Fizzy Drink Consumption At Nearly 60L, Similar To Developed Countries

13:46, 09 Iun. 2010
Consumption of fizzy drinks in Romania reached nearly 58 liters per capita in 2009, more than twice the average consumption of emerging countries in the region, but close to the average of developed countries, according to estimates of Coca-Cola Hellenic Bottling Company (HBC).

Romania Agrees To Increase Tax Rates If Current Austerity Measures Are Not Enough – EC

12:52, 07 Iun. 2010
The European Commission said Monday, in response to questions addressed by MEDIAFAX, that it had been agreed during discussions with Romanian authorities that additional revenue raising actions, including increasing tax rates, will be implemented to close any unexpected budgetary gap.

FOCUS: Romanian PM Seeks Parliament Conf Vote On Govt Austerity Plan Monday

19:21, 06 Iun. 2010
Romania’s Prime Minister Emil Boc will seek a confidence vote in Parliament Monday for two draft laws that make up the Government’s austerity plan, which cuts public sector wages, pensions and social welfare benefits and regulates certain aspects regarding pensions.

Over Half Of Romanians Would Set Up Their Own Business – Survey

17:37, 06 Iun. 2010
Over 52% of Romanians would like to set up their own business and 42% of them would start a business if they inherited a significant amount of money, says a Eurobarometer study published by the European Commission.

Romania’s No Of Insolvency Proceedings In 2010 Might Exceed Level Reported Last Year

13:05, 06 Iun. 2010
The number of insolvency proceedings in 2010 might exceed the level registered in 2009 when 20,000 companies filed for insolvency, said the National Union of Romanian Insolvency Practitioners (UNPIR) president Arin Stanescu.

Several Romanian County Councils To Take Over Decentralized Hospitals In Upcoming Weeks

13:00, 06 Iun. 2010
Romania’s decentralized hospitals will be administered by the public administration authorities that own the respective hospital buildings and 39 county councils will take over hospitals in the upcoming weeks, Romania’s Health Minister Cseke Attila said Sunday.

Romania’s Govt Rejects All Amendments To Draft Laws On Austerity Measures

21:36, 05 Iun. 2010
Romania’s Government rejected all amendments to the draft laws for which it will seek a vote of confidence in Parliament on Monday, and preserved the austerity plan that cuts pensions and state employees’ wages and eliminates luxury pensions, Government spokeswoman Ioana Muntean said Saturday.

Romanian Education Unionists Call On Lawmakers To Vote Against Wage Cut Plan

21:07, 05 Iun. 2010
The Romanian National Education Federation (FEN) addressed an open letter to the country’s lawmakers, calling on them to vote against Government’s austerity measures that cut education sector employees’ salaries.