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Archive for October, 2009

News from Romania. Archive for October, 2009



The battle over renaming streets in Eastern Europe since the fall of communism reflects their importance as symbols of identity, history and power

What’s in a name? More than you might think, especially when it comes to streets, which is why analysis of their names is a revealing exercise. Whilst in [... more]

Supreme Court to lift bans in the case of Gigi Becali

The Romanian member of the European Parliament Gigi Becali, , investigated on kidnapping charges, managed to escape all bans of the Supreme Court ruled on [... more]

Stolojan: “Less money for public sector employees and pensioners”

Retirees and employees of the public sector might receive reduced pensions and wages, if our country doesn't receive IMF money in due time, warned Theodor [... more]

Traian Basescu: There are compromise formulas to enforce the Lisbon Treaty by the end of the year

The Lisbon Treaty will be enforced by the end of this year. The announcement was made by the Romanian president Traian Basescu, who took part in the European [... more]

Norman Manea: Romania, a democracy from Kafkas books. Nobel, a hysteric, national obsession

Today's Romania is a democracy from Kafka's books, where rhetoric is mixed with demagogy and vulgar populism. This is the belief of Norman Manea, the [... more]

Norman Manea: Romania, a democracy from Kafkas books. Nobel, a hysteric, national obsession

Today's Romania is a democracy from Kafka's books, where rhetoric is mixed with demagogy and vulgar populism. This is the belief of Norman Manea, the [... more]

Who took the money from Ceausescu’s suitcase?

Mystery. The curse on Ceausescu’s mysterious suitcase seems to have strongly affected Vasile Nicolcioiu, the former head of the Party and State Protocol. On [... more]

Renault Group business figure dropped 11% last quarter. Dacia registrations went up by 88%

Renault reported an 11% drop in their business figure for the July - September quarter. But the group claims that the result is positive, bearing in mind that [... more]

Theodor Stolojan: The Government could cut salaries and incomes for a short while

The Government has two options in managing the country's economy: either to take drastic measures and reduce the spending that does not regard salaries and [... more]

Romanias representative on IMF discussions: The agreement between the IMF and Romania goes ahead

Romania's agreement with the IMF "didn't derail", it "goes ahead", assures the Romanian representative at the IMF discussions Mihai [... more]

The Competition Council: Romanians pay notary services 14 times more than Germans do for the same transaction

The situation of the Romanian notary markets is worse than in other EU countries and the lack of competition on this market leads to higher prices, an [... more]

Romania tops economic negatives in Central and East Europe

With an 8% lower GDP in 2009, Romania gets in front of Lithuania, Latvia and Estonia in a central and Eastern Europe top 10, according to a World Bank analysis [... more]

What the newspapers say: October 30, 2009

Romania was on the brink of being closed down because of swine flu. Elsewhere in the news, several counties are to organise local referendums at a national [... more]

A lesson in Romanian invention

Mircea Tudor and his team of specialists obtained a place in the history of inventions with a scanner meant to limit contraband in customs. After [... more]

Land prices near Bucharest down 80%

Land on the outskirts of Bucharest is assessed today at €10-15 per square meter, compared to €30-35/sqm last year, said officials of the [... more]

Fitch forecasts budget deficit at only 7%

In a report on emerging markets, Fitch Ratings expects Romania’s growth will rebound in 2010, to 2 percent, following a 7.5 percent [... more]

Orange Romania drives France Telecom into the red

Orange Romania, the largest operator locally in terms of number of users, ended the July-September period with the third consecutive quarterly [... more]

The EU opts to delay €1 billion tranche

The European Commission, whose mission is presently in Romania for a review of the country’s economy, has decided to delay the payment [... more]

The exchange rate over the RON 4.3/€1 threshold

The exchange rate climbed over the RON 4.3/€1 threshold yesterday. The National Bank of Romania (BNR) announced a benchmark of 4.3079, the [... more]

Confidence in Romania’s economy froze in October

The population’s confidence in the economy of the European Union increased in October, according to the Economic Sentiment Indicator (ESI), [... more]

Braiconf redirects production to women’s clothing

Braiconf Braila, one of the top ten local market apparel producers, has changed its production strategy, opting to increase its clothing for [... more]

Maxim de economisire şi minim de investiţii în UE

Report on the first day in business for the biggest mall

“There’s no place in this world where you can schedule 220 stores to open at the same time,” says Reuven Havar, country manager of AFI Europe, the [... more]

Petrom completes investment in gas processing plant

Petrom [<a href=... more]

Romania, sanctioned again for the lack of independence in telecoms market regulations

The European Commission opened on Thursday another infringement procedure on community law against Romania for not respecting the communitarian norms that [... more]

Wirth, Holcim: The recovery will be W-shaped

Markus Wirth, CEO of Holcim Romania, a 372 million-euro business in 2008, says he expects a slow recovery of the economy due to the low volume of investments [... more]

Irish judge: Roma ethnics from Romania raise their children to steal

A judge presiding over a children tribunal in Dublin, Ireland, declared after a trial that "Roma people raise their children with the intent of teaching [... more]

Why low-cost carriers avoid Budapest, Prague or Vienna

Why [<a href=... more]

What exchange rate do companies use to plan their next year budgets?

In full process of drawing up budgets for 2010, the RON/euro exchange rate is the biggest challenge Romanian executives are facing. A ZF survey shows any [... more]

Fitch forecast: Romanias economy will shrink by 7.5% this year, but increase by 2% in 2010

Romania's economy will contract by 7.5% in 2009, according to Fitch Ratings. This is a more optimist version of the IMF estimate, which sees Romania's [... more]

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