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, 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 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, 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, 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 Tnuva has some 1,2 milk cows in Romania, covering 25% of the local production of the company.
Investments in Romanian energy projects postponed or abandoned The viable units of Romanian energy company Termoelectrica will be separated and the rest of the company operations will be closed by mid-2011, according to information provided to by the Economy Ministry. The scenario is included in the letter of intention signed by the Romanian authorities with the IMF and will be applied separately from the creation of two major national energy companies, Electra and Hidroenergetica. The fate of several power plants remains uncertain as some of the investments announced with fanfare in 2008 appear to be just an illusion.
Negotiations between BCR management and employees fail Negotiations between trade unions and the management of the Romanian Commercial Bank - BCR have failed. BCR trade union representatives told on Friday that starting today the employees no longer have a collective work contracts. Two employees have threatened hunger strike starting Monday, March 7.
Vodafone head Vittorio Colao in talks with Romanian PM Emil Boc Romanian PM Emil Boc and Communications minister Valerian Vreme scheduled a meeting at noon on Friday with the head of Vodafone group Vittorio Colao and the head of Vodafone Romania Inaki Berroeta. According to Vodafone data, the talks were to focus on the evolution and perspectives of the telecom sector in Romania. The meeting comes a couple of weeks since Romania's Competition Council decided to fine Orange and Vodafone some 63.1 million euro for abuse of dominant position on the local market.


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