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Romania registered in March the biggest annual inflation rate in the EU of 8%
Romania registered in March the biggest annual inflation rate in the EU, with a price increase of 8% compared to the same month in 2010, Eurostat data shows. The inflation rate increased compared to the last month when the indicator was 7.6%.
Romania’s foreign debt increased by 1.1% in the first two months of the year to 91.79 billion euro
Romania’s foreign debt rose to 91.79 billion euro after the first months of the year with almost 1 billion euro more than last year, Romania’s National Central Bank data shows. The long term and medium foreign debt is 72.86 billion euro, a 1.1% higher than the debt registered in December 2010. The short term debt increased to 18.93 billion euro.
Foreign direct investments doubled in the first two months of the year to 294 million euro
Foreign direct investments amounted to 294 million euro, twice than the similar period in 2010, Romania’s National Central Bank data show. In January – February 2010, the value of FDI in Romania was 140 million euro.
Capital Economics: Romania will continue to speed up but on bumpy roads
Romania’s economic relaunch will continue to speed up on bumpy roads with an industry production sustained by export demands while internal consumption will remain weak due to restrictive fiscal policies, a Capital Economics analysis reads quoted by Romanian news agency Mediafax.
3,000 CFR Marfa employees to be laid off starting June 1
CFR Marfa, the national freight railway company notified unions and labour inspectors about its plans to lay off 3,000 employees even though the negotiated numbers with the unions was 2,400 starting June 1st, union leader Iulian Mantescu declared quoted by Romanian news agency Mediafax. Mantescu said CFR Marfa started on April 8th to notify unions regarding their intentions.
IMF: Romania’s economy to increase by 1.5% this year and by 4.4% in 2012
Economic recovery will be slower in some emerging European countries that registered internal unsustainable booms like Romania, the World Economic Outlook report released by the IMF reports. Experts of the institution estimate that after a 1.3% decline in 2010, Romania’s economy will grow by 1.5% this year and by 4.4% in 2012.
Romania’s commercial deficit decreased by 52% up to 582.4 million euro in the first two months of 2011
Romania’s commercial deficit in the first two months of this year was 582.4 million euro, a 51.8% drop compared to the same period last year, considering that exports had a higher growth rhythm than imports, Romania’s National Statistics Institute announced.
Annual inflation exceeded 8% in March
The annual inflation rate increased in March to 8.01% due to the increase in food prices by almost 10% according to the National Statistics Institute. Important price increases registered for non food goods and for services.
Gabriela Bordea is Tarom’s new General Director
Gabriela Bordea was named, starting April 1st, Tarom’s General Director through an order of Transports minister Anca Boagiu, a press release of the airline company informs. Bordea replaces Ruxandra Brutaru who resigned in March.
Gheorghe Ialomitianu, Finance Minister: we cannot afford to cut VAT in 2011 and 2012; talks about it are purely political. IMF talks target the decrease of some contributions only
There are political talks regarding a VAT decrease but talks with the IMF target the decrease in the level of social contributions paid by employees, but not of the VAT, Romania’s Finance minister Gheorghe Ialomitianu said for B1TV, a Romanian television. He said that Romania cannot afford a VAT decrease in the next two years because the VAT brings about 40% of the budgetary revenues.
Cosmina Noaghea will take over a CME management position and Orlando Nicoara will replace her at Mediafax Group
Cosmina Noaghea, Mediafax Group general director will takeover a management position at Central European Media Enterprises, CME, an international group lead by Adrian Sarbu and will be replaced at Mediafax by Orlando Nicoara, Paginademedia.ro reads.
ZEW: Romania’s economic perspectives for the next six months improved
The perception of foreign analysts regarding Romania’s economy for the next six months improved in March as Romania advanced a position compared to February up to the third place among Central and Eastern European countries, a ZEW survey reads, quoted by news agency Mediafax. The index measuring the expectations of financial experts for Romania increased by 11.1 points to 44.5 points.
Romania’s commercial deficit decreased by 60% in the first month of 2011 to 186.2 million euro
Romania’s commercial deficit decreased in January 2011 by 60% to 186.2 million euro from 472.9 million euro in the same month in 2010, Romania’s National Statistics Institute reports. The decrease of the commercial deficit was mainly caused by an increase of exports to the imports.
Deputy head of Romania governing party says coalition considers reduction of 16% flat tax, warns about energy security
The governing coalition in Romania will discuss in the upcoming weeks a set of economic measures which may include the reduction of the flat tax - currently set at 16% -, a cut in welfare contributions and symplified fiscal rules, Adriean Videanu, deputy head of the governing Democratic Liberal Party (PDL) told HotNews.ro in an interview on Thursday.
German group TUI displeased with Romanian seaside prices and services
The German group TUI is displeased with the prices and services that can be found in Romanian seaside resorts and Romanian Tourism minister Elena Udrea promised the German tour operator she would try to solve some of the issues, news agency Mediafax reports.
Telecom operator Romtelecom launches new TV platform: films, shows and sports content can be accessed on the Internet
Romanian telecom operator Romtelecom launched on Wednesday the beta version of a new TV content platform on the Internet, DolceTV.ro. Internet-connected users can use it to watch films, live and recorded TV shows and video content. For the time being, the platform offers some 200 free or rental films and 15 channels that can be watched live.
Romanian PM Emil Boc: Rising fuel prices are bad effect of cession of Romania's oil reserves
The rising gasoline prices are a bad effect of the fact Romania's oil reserves had been ceded in an unfavorable contract, Romanian PM Emil Boc said on Tuesday, quoted by Mediafax. He said the only tool at the hand of the government was to continue checks on the market through the fiscal authority and the Competition Council.
Report: No inquiry on abuse of dominant position finalized by Romania Competition Council
Romania's Competition Council has made significant progress but is still lagging behind when it comes to applying anti-competitive practices, a report of the World Bank shows. According to available data, the Competition Council opened 30 cases of cartel operations and four cases of dominant position abuse during 2007-2010. But it only concluded seven cartel operation inquiries and has yet to finalize any of the cases of dominant position abuse, despite six of these had been opened before 2007.
Yahoo! launches Romanian language version
The Romanian version of the Yahoo! portal has become active at http://ro.yahoo.com/,
while the Yahoo! mail can also be accessed in Romanian. Yahoo! offers a
light version in Romanian, with much less content than versions in
major languages. The launch comes after many postponements over the
past two years.
Tnuva closes Romanian farm on financial consideration
Israeli company Tnuva will halt its cowshed activity in Romania, with representatives of the milk producer saying the decision was made on financial considerations, according to ynetnews.com. Tnuva has some 1,2 milk cows in Romania, covering 25% of the local production of the company.
Topul municipiilor și orașelor pe care cei mai mulți români le abandonează. Rata cea mai mare a plecărilor este din Baia de Aramă (Mehedinți), Motru (Gorj) și Rovinari (Gorj)
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