Fiscal policy remain focal point of Romania’s macroeconomic strategy Romania needs to make progress in deflation, reducing the current account deficit, improving business environment, creating new jobs and ensuring the suitable framework for EU funds, writes the annual report of the International Monetary Fund published Monday.
PM vs. President in Swiss agreement matter Romanian Prime Minister Calin Popescu Tariceanu considers that president Traian Basescu has made some inaccurate statements when referring to a recently annulled Swiss-Romanian agreement that allowed a Swiss company in the energy field to directly contract public works valued at more than 1.2 billion euros.
How to win or lose hundred million dollars in Washington Cornel Popa, the Defense lawyer representing Romanian Government against the American company Noble Venture in a three years trial at the International Center for Settlement of Investment Disputes – ICSID, explained how this institution works in an interview for si
What the newspapers say: February 21, 2006 Moves against corruption keep the front page of Romanian newspapers yet again today, reflecting the heat of the early week in Parliament and on prosecutors’ line of duty. A decision to subordinate a vital anti-corruption body to the Prosecutor General and searches at a Bucharest building standing at the core of a major inquiry on a real estate scandal involving former PM, current House speaker Adrian Nastase are the main flashpoints of the day.
New hearing in Zambaccian case The former head of State Inspectorate of Construction, Irina Jianu, was also called by the anti-corruption prosecutors to testify in the Zambaccian case Tuesday.Irina Jianu is believed to have bribed former PM Adrian Nastase while in office in order to be appointed and maintained in a high position at the Constructions Inspectorate.
Motion of non confidence against health reform fails A 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, failed before the joint houses of the Parliament on Tuesday with 246 votes against and 214 in favor. A spokesperson of the opposition announced plans to challenge the laws at the Constitutional Court.
Rompetrol invests in exploitation, shares drop The Romanian oil group Rompetrol will invest some USD 25 mln. in the exploitation of the natural gas field in the Arges district, close to the national gas distribution network, according to a company press release. The announcement comes as a full-scale inquiry targets members of the Rompetrol management, leading to dropping Stock Exchange quotas for Rompetrol Rafinare.
Second journalist charged with secret info leaks A Romanian journalist whose house was searched on Saturday has been officially charged with collecting classified documents and passing them to other persons. Sebastian Oancea is a correspondent for the Bucharest-based "Ziua" newspaper.
Presidency publishes National Security Strategy project The Romanian Presidency published Tuesday the National Security Strategy establishing international terrorism, WMD proliferation, regional conflicts and organized crime as main risks for the security of the country.
Brothers in business arrested preventively Two businessmen from the Romanian city of Craiova received arrest warrants on Tuesday as they are charged of bringing a prejudice of some 300 billion ROL to the state budget. The case also targets another local businessman, Dan Stoica.
Fewer Romanian companies at Texworld 2006 Seven Romanian textile producers take part at the 18th TEXWORLD International Fair in Paris on February 20-23, 2006, according to the Romanian Economy and Trade Ministry. 700 companies from 42 countries are represented at TEXWORLD 2006.
How to win or lose hundred million dollars in Washington Cornel Popa, the Defense lawyer representing Romanian Government against the American company Noble Venture in a three years trial at the International Center for Settlement of Investment Disputes – ICSID, explained how this institution works in an interview for si
State authority recovers 72 mln RON from debtors The Romanian Authority for State Assets Recovery (AVAS) recorded 72 mln RON recoveries for 2005, out of which 55.6 mln came from receivables. AVAS managed the performance of recovering 18 mln RON since 2005 up to present by blocking debtors’ accounts.
Flanco to expand network Flanco International is to open four units this year in Bucharest of more than 2000 sqm, reads a company’s press release. The first one opens doors in July. The project costs 2 mln euros. The investment in the first two Flanco World stores amounts to 6.3 mln euros.
Companies Law to be modified The Justice ministry proposed a draft law aimed at adjusting the old Companies Law 31/1990 to European legislation and the Organization for Economic Cooperation and Development (OCDE) principles regarding the founding procedure, the shareholders’ assembly and the corporate management.
What the newspapers say: February 22, 2006 For the first time in many days, the Rompetrol affair drops lower on the front pages of Romanian newspapers today. But it’s still there, this time for the incredible fall of its share value yesterday. Still, it can’t fight for highlight against other events such what happens with part of the Orthodox Church wealth, or with the map of Romania, which might become a state secret.
Foreign Ministry: Romania not involved in CIA prisons scandal Investigations by Romanian authorities into the alleged existence of secret CIA detention centres in the country have led to no such discovery, the Foreign Ministry (MAE) in Bucharest says in a letter to the secretary general of the Council of Europe.
2006 "Year of Construction Works" for Bucharest, study says 2006 will be the year of construction works for Romania and especially for Bucharest, according to a CB Richard Ellis study. It says the market will react to the current lack of alternatives for the acquisition of a flat or house and and to the need of lower prices for lower-income people.
DNA hearings for ex-minister Miron Mitrea The secretary general of the opposition Social Democratic Party met prosecutors of the National Anti-Corruption Department (DNA) today to learn about the reason he is investigated for acts connected in the bribery case surrounding his former government and party boss Adrian Nastase.
President sends prosecutors home Romanian President Traian Basescu has signed a decree removing from office two controversial prosecutors who will now retire, press agencies announced today.


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