BSE recovers after two days of decline Bucharest Stock Exchange recovered Thursday after two days of general decline. The Stock prices went up in the opening session, and in the second half of the day the market went stable closing with more than 1 per cent increase in indices’ values. The session on Thursday managed to stop the declining trend and ensured stability on the market.
No preventive custody for Rompetrol chairman Bucharest Tribunal rejected on Thursday evening the prosecutors' preventive custody request for the Romanian businessman Dinu Patriciu, Rompetrol oil group's chairman, according to TV stations broadcast. A new hearing was set for March 3, until when the other two Rompetrol executives cited must return to Romania.
Old Libyan contract brings grim prospects for Romanian businessman Dinu Patriciu New elements from the forgotten past have come to light in the ongoing judicial case against Romanian businessman Dinu Patriciu, the head of the Rompetrol oil group, and his cronies. The story goes back to 1985 when specialists from the then state-controlled Rompetrol discovered the largest crude deposit in Northern Africa - that is, in Libya – estimated at 3-5 billion barrels.
What the newspaper say: February 17, 2005 "A failed arrest" would be how most Romanian newspapers today view prosecutors’ attempt yesterday to retain Dinu Patriciu, the head of the Rompetrol oil group, pending investigations on the many facets of the scandal he is involved in. But there are lots of other issues that draw media attention, from yet another luxury project in the grim Bucharest downtown to real estate opportunities to "beggars" taking without asking in Parliament.
Romanian leader offers alternatives to current energy supplies "It’s time to pass from theoretical analyses to deeds" said Romanian President Traian Basescu on Friday in the opening of the international economic forum "The development of infrastructure in the Black Sea area in the Euro-Atlantic context" in Bucharest. Basescu invited all European countries interested in another alternative to current energy supplies to get involved in the Romanian-Qatari project of developing a LPG terminal in Constanta.
President sends DNA ordinance back to Parliament Romanian President Traian Basescu announced Friday he would send a controversial ordinance on anti-curruption back to Parliament after it was rejected last week. He made the announcement after two days of talks with the leaders of parliamentary parties on issues as varied as the named ordinance, the EU integration priorities and the law on minorites.
Former IT&C minister charged in Rompetrol case Former IT&C minister Sorin Pantis was charged with manipulation of the Stock Exchange with Rompetrol shares on Friday.Following talks with the prosecutors, Pantis said he did not yet clearly know what were the accusations he had been brought but the Rompetrol case showed no connection to fraud.
Eurobank EFG boasts 48 per cent profit increase Eurobank EFG posted a 48 per cent increase in 2005 profit due to retail loans development. The third biggest Greek bank’s profit for last year amounts to 500 mln Euros.
Romanian journalist arrested over secret information leak Romanian journalist, regional correspondent for Romania Libera newspaper, Marian Garleanu was taken into preventive custody for ten days in a case involving secret military information leak to the press.
Anti-graft prosecutors eye ex-president The sweeping wave of inquiries initiated by the National Anti-Corruption Department (DNA) may soon include one against ex-President Ion Iliescu, who led Romania for ten of its 16 years of post-Communist history, according to radio reports. The Department has started preparations for a criminal investigation on Iliescu for his role in a case related to the replacement of revolutionary licenses.
Smooth end for BSE week The week ended smoothly at the Bucharest Stock Exchange on Friday after days of ups and downs that eventually reached a balance point. The day saw its spectacular boosts, large scale transactions and unexpected events, but it was a quiet day overall.
Tendered rents for Black Sea beaches The Government promises cleaner beaches, European services and less pollution on the Romanian Black Sea coast as it adopted a Governmental decision on Thursday night to use public tenders to let the beaches on 10-year rents. The measure is aimed at promoting a sustainable development policy on the Romanian seaside, Government spokeswoman Oana Marinescu has said.
Media Reacts in Secret Leaks Scandal A Romanian journalist taken into preventive custody for ten days in a case related to military information leaks won the appeal against the General Prosecutor’s Office and was freed Saturday after two days of prison. Another journalist has been placed under investigation in the same case.
What the newspapers say: February 20, 2006 Theoretically, Romania is run these days by a political alliance between the Democrats and the Liberals. But true power stands in the hands of an alliance of interests, as recent events have proven, newspapers agree. Again on Monday, their main interest stays in various acts of corruption, while one paper brings and alternative to the idea of "free money".
Bird flu puts first Romanian township under quarantine Authorities confirmed the presence of the H5N1 virus in samples taken from the townships of Tuzla and Navodari on Sunday. Checks have been placed on access roads to and fro Tuzla, as the town could not be put under quarantine as it is situated on a national traffic route to Bulgaria. Parts of Navodari, however, are now quarantined as teams of experts seek to slaughter all the local fowl.
Parliamentary parties support DNA ordinance The leaders of Romanian parliamentary groups assured President Traian Basescu on Monday of their support for a governmental ordinance establishing a National Anti-Corruption Department. The assurances come more than a week after the Senate rejected the ordinance in a vote that produced extreme criticism about the strength of the governing coalition.
Anti-graft search of former PM’s neighbors Anti-corruption prosecutors started searching a building on the Zambaccian St. in Bucharest where former PM Adrian Nastase lives with his wife and son. The head prosecutor of the National Anti-Corruption Department (DNA) Daniel Morar explained that the search aimed three other apartments in the same building as "there was no search mandate approved for Nastase yet".
Ex-PM’s wife and current minister face anti-graft hearing The National Anticorruption Department (DNA) provided a rough start of the week with hearings on two "big fish" cases today. Dana Nastase, ex-PM Adrian Nastase’s wife, and current deputy prime minister George Copos were grilled by prosecutors in two different cases first thing in the morning.
Israeli fund invests 40 mln. euro in Constanta Mall An Israeli investment fund has started construction works at a mall in the Romanian Black Sea port of Constanta, according to Israeli newspaper Globes. The total value of the Poalim Real Estate investment amounts to over 40 million euro, while the works are due to finish in 2007.
Parliament to decide about Ex- PM’s house search The Permanent Bureau of the House of Deputies, which had previously decided to reject the search of the former PM’s house, agreed Monday to leave this decision to the Parliament, following a renewed request from the Justice minister, Monica Macovei.


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