English Section

The Government convened for an extraordinary meeting yesterday, adopted the decentralization strategy for Health Care and approved the regulations for the decentralization of athletic activities, as well as a draft law regulating the...

President Traian Băsescu, said to members of the Liberal-Democratic Party who attended the inauguration of the candidates for the European Parliament, that they should not use the crisis as an excuse for postponing the reform of the state.

The Romanian Association of Construction Entrepreneurs (ARACO) has acknowledged the decision of the ruling coalition leaders to give a team of PSD and PD-L ministers until 18 May to make proposals to amend the Public Procurement Law on the matter...

Officials of the Ministry of Agriculture had talks Wednesday with representatives of fruit and hog breeders in an attempt to find solutions for funding the two sectors, given the current crisis circumstances.

"People started having problems with their loans when the leu depreciated and the inflation rate remained high, while at the same time their income started to decrease and they stopped receiving their bonuses," said Laszlo Diosi,...

The National Energy Regulatory Authority (ANRE) stated in their Annual Activity Report 2008 that 13 energy companies had contested various decisions and orders issued by the president of ANRE in the Bucharest Court of Appeal last year.

Mugur Isărescu, the governor of the Romanian National Bank, yesterday warned that stagflation correlated with a high foreign deficit could be one of the worst combinations for Romania.

Czech energy company CEZ, which intends to develop a wind farm in Dobrudja, is looking to secure funding from the European Investment Bank (EIB), with talks having reached an advanced stage, according to Jean Christophe Laloux, Head of the South...

The current government, just like all the others in the last 20 years, is incapable of understanding that a country can not develop, even under favorable foreign conditions, without economic freedom.

The coming share capital increases by banks, are not a sign of weakness and are not the consequence of the stress tests that lenders have undergone, Mugur Isărescu, the Governor of the National Bank of Romania said.

Analysts of the Dutch financial group ING have identified serious errors in the International Monetary Fund data regarding the short-term external debt of some Eastern European countries including the Czech Republic and Poland.

The National Energy Regulatory Authority (ANRE) stated in their Annual Activity Report 2008 that 13 energy companies had contested various decisions and orders issued by the president of ANRE in the Bucharest Court of Appeal last year.

It"s time for banks to reassess their stance on SMEs and to cut their interest rates, now that the agreement with the IMF has been signed, the Minister of SMEs, Constantin Niţă, said yesterday, at the opening of the Fair for Small and Medium...

The Private Pension System Supervisory Committee (CSSPP) has approved the norms regarding the procedure for supervising the enforcement of international sanctions on the private pension system as part of a broader effort to align the Romanian...

A bond issue released by the Municipality of Alba Iulia (ticker symbol ALB25B) for the overall amount of 8.5 million RON is tradable on the regulated market of the Bucharest Stock Exchange (BSE) as of today.

Prime Minister Emil Boc yesterday told Parliament that the money borrowed from the European Union would be used to finance the budget deficit and not for paying pensions and salaries.

Monica Iavorschi: " exports to over 45 countries" Household appliance maker "Arctic" had a turnover of EUR 213 million last year, with sales rising to 1.5 million units.

Industrial output in nominal terms (for the domestic and foreign markets) dropped 16.2% YOY, in Q1 2009, according to a press release by the Romanian National Statistics Institute.

The draft law on the endorsement of Government Ordinance 41/2006 transferring 200 hectares from the Potato Institute to the Brasov County Council for the construction of the Brasov-Ghimbav International Airport was up for voting in the Chamber of...

The competition intended to lead to the creation of Romania"s country brand comprises 13 companies or consortia of companies from Britain, the U.S., Austria, Sweden, Denmark, Italy, Germany, Portugal and Romania.

Following the decision to permanently close the coke plant "Uzina Cocso-Chimica" within the Galati Steel Works, ArcelorMittal yesterday met with trade unions and presented the voluntary layoff scheme prepared exclusively for the...

Most city-dwelling Romanians (77%) feel that the most important thing when shopping is to be well treatment by store employees, according to a study by GfK.

The global economic situation will confront businesses with increasingly numerous problems and will make it harder and harder for them to obtain financing and to offer any kind of credit, including customer credit.

Romania"s road infrastructure could reach European levels in about 130 years, provided the current pace of development remains constant, according to the specialists of consulting company "A.T. Kearney".

"President Traian Basescu would need another three terms of office to make amends for his behaviour in the European Union, because his actions have done nothing but discredit our country"s position in the European Community," said...

E.ON Romania has acknowledged the decision of ANRE (the energy market regulator) to cut the price of natural gas by 3% starting May 1st 2009, and it is currently analyzing in detail the effects that the decision will have on natural gas operators.

UBM, an Austrian-based real estate developer, has finalized the second phase of the logistic and light industry park in Chitila.

The Council of Competition is currently running an investigation of the automotive spare parts market, with a view to study the operation and mechanisms of this sector and to identify and correct any competition related issues.

Uniqa Asigurari estimates to close the year with an overall subscribed gross premium value of nearly 580 million RON, up by 15% from 2008, and a profit of up to 3 million EUR, according to Chairperson of the Board Ileana Horvath, who made the...

The management of "Rodipet" has asked AVAS (the Authority for State Assets Recovery), to stop its post-privatization surveillance of the company alleging the majority shareholder of the company, "Magnar Two" SRL, carried out all...

Representatives of the National Bank of Romania (BNR) and economic analysts do not support the idea that Romania should adopt the European currency faster in order to avoid exchange rate risks.

The aerated autoclaved concrete (ACC) market will not decline by more than 5% this year, despite the significant recession affecting the construction industry because of the lack of public and private financing for new investments.

Erste Group"s net profit for Q1 2009 after minorities was EUR 232.1 million, down 26.5% YOY, due to a 126% increase in provisions for non-performing loans.

The National Securities Commission (CNVM) has denied the request filed by the shareholders in financial investment firm (SIF) Transilvania (SIF3) to increase the holding threshold from the 1% of the share capital stipulated in the Capital Market...

"BIO Markt Retail Group" of Timi oara yesterday announced in a press conference, that they have taken over the operations of one of the main Romanian organic foodstuffs producers, - "Natura Land", thus forming the largest importer...

The last plots of land of "Nectar" SA Paşcani were put up for sale for the second time.

The National Authority for the Protection of Consumers (ANPC) has launched an investigation of commercial banks to check for compliance with European Union regulations on payments made in Euros to other countries, following the request received...

The Tourism Ministry has allocated different budgets for financing projects of the local public administrations, including several projects to be implemented in Brasov County, according to Tourism Minister Elena Udrea.

"None" of the 5 billion EUR loan that Romania is going to receive from the European Commission will be used to finance salaries or pensions, but only the budget deficit, Finance Minister Gheorghe Pogea said yesterday.

While visiting Croatia yesterday, President Traian Basescu said it was a mistake to ask for salary raises in Romania which "did not do too well in the first three months of the year