Levy stays on ex-minister properties High Court judges decided Wednesday to reject an appeal by ex-Economy minister Dan Ioan Popescu against a levy set on family assets as he is investigated for his failing to provide a proper explanation over part of his wealth.
National Bank stands firm on inflation targets for 2006-2007 The Romanian National Bank (BNR) will not change its inflation targets for for 2006 and 2007 and will stick to its "ambitious" pace, the BNR governor said Wednesday when he revealed his report on the 2005 inflation.
Petrom invests 35 mln euro for modernization of IT infrastructure Romanian oil company Petrom announced Wednesday it would invest 35 million euro for the modernization of its IT infrastructure this year. Operations at its headquarters in Bucharest and Ploiesti are a priority, to be followed by the its Arpechim and Petrobrazi refineries.
Basic notions on Romanian land use Romania’s real estate market continues its upward spiral fueled by foreign investor interest coming from EU member states, the US, Israel, India and the Middle East. Major new construction, the renovation of old villas, and commercial or residential property developments of all kinds, dot the landscape of virtually all of Romania's major cities and tourist locations.
Renewed pressure on House speaker Adrian Nastase The Justice Ministry sent back to the House of Deputies on Wednesday a previously rejected request to approve searches at two buildings owned by House speaker Adrian Nastase, currently investigated under graft charges related to suspicious real estate operations.
Opposition files motion against health reform package Some 160 deputies from the opposition Social Democratic (PSD) and Greater Romania (PRM) parties filed Wednesday a motion against a health reform package for which the government has taken responsibility in Parliament on Monday.
Ursus plans 30 mln euro investments in 2006 Romanian beer maker Ursus Breweries, a member of SABMiller plc, plans to invest some 30 million euro in the expansion and modernization of its factory in Buzau, central Romania, this year to increase production there by 75%, the company announced.
Competition Council analyzes Flanco takeover by Flamingo Romanian Competition Council is analyzing the framework of the transaction by which IT company Flamingo International plans to buy national home appliances retailer Flanco. Council officials believe Flamingo should have notified the main anti-fraud body in Romania about the transaction as it falls in the category of economic consolidation.
Romanian journalist accused of organized crime links The Romanian top prosecutors have extended inquiries against the editor of a national newspaper whom they now suspect of belonging to an organized crime ring, according to the public television TVR. If found guilty, journalist Sorin Rosca Stanescu, editor of the Bucharest-based "Ziua" newspaper, may receive up to 20 years in prison.
What the newspapers say: February 16, 2006 Bucharest papers focus on the organized crime charges rounding up in the Rompetrol case involving the circulation of insider information on the Bucharest Stock Exchange. But they don’t stop here and push further the debate on the fate of the official fight against corruption, seen threatened by a series of European officials. On both fronts, Justice officials promise to move on despite resistance from both targeted groups.
Magical night for Romanian football: double UEFA victory for Steaua and Rapid Bucharest teams Steaua and Rapid reputed victories on enemy field in the UEFA Cup yesterday and are now favorites to qualify when they have to defend their successes back home, eight days from now. Whle Rapid defeated Hertha Berlin 1-0 with a goal in min. 68, Steaua was considerably more categorical with a 3-1 victory against the Dutch of Heerenven.
Second consecutive day of decline on BSE The Bucharest Exchange Stock (BSE) market continued its declining on Wednesday. The opening predicted an unfavorable day. Towards the second half of the session the main shares stopped declining and recorded a come back. The second half of the day closed with BET and BET-C indices very near to Tuesday values while BET-FI closed down 0.9 per cent. The value of the total volume of transactions reached almost 53 mln RON.
American retailers target Eastern European markets Tesco and Wal-Mart, two of the biggest world retailers, announced plans to extend businesses to Czech Republic and Hungary. Wal-Mart is to buy the Delhaize’s hypermarkets chain in Hungary while Tesco targets 27 Edeka stores in Bohemia, close to the Czech-German border.
Romanian president invites Qatari businesspeople to invest in Romania In the first official visit to a Persian Golf state, the Romanian president Traian Basescu invited Qatari businesspeople to invest in Romania, a very attractive country in the perspective of the EU accession. He pointed out the best fields for investment: agriculture, energy, and tourism.
Queen Elizabeth of Great Britain enforces Romania's EU Treaty Queen Elizabeth endorsed Romania's EU Accession Treaty Thursday, following the ratification of the document by the House of Lords in the British Parliament on February 7 and by the House of Commons in November last year.
Opposition reads in Parliament motion against health reform The motion filed by the opposition Social Democratic (PSD) and Greater Romania (PRM) parties against the health reform laws, for which the Government assumed responsibility in the Parliament, was presented Thursday before the joint chambers of the Romanian Legislative.
DNA officially charges former PM with bribe The speaker of the House of Deputies and former Romanian prime minister, Adrian Nastase, presented himself before the National Anticorruption Department (DNA) prosecutors on Thursday to be informed about the accusations he is facing in Zambaccian file. Nastase was accused on Thursday of taking bribes.
Gas price will not triple following EU accession Accession to the European Union does not entail a tripling of the gas prices in Romania as the representatives of a national gas company announced last week in a statement for, the Delegation of the European Commission said Thursday.
Parliament passes amendments on legislators’ statute The joint houses of the Romanian Parliament adopted with a large majority on Thursday a series of amendments to the draft law on the statute of parliamentarians, legislation that had been sent back to legislators by President Traian Basescu.
Former PM Nastase "most corrupt", poll says Romanians have not changed their mind and still that believe corruption is a deep-rooted plague, while their trust in politicians goes ever down, according to a new poll published today. It says people believe the customs, the justice system and the police, along with health institutions and city halls are the most corrupt institutions, it says.


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