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2009: Unemployment Rate Will Stay In One Digit

The 2009 Romania's unemployment rate will not climb to two digits, the minister for Public Finance Gheorghe Pogea said. He added the budget will be rectified in August to give 864 million Euro more to the unemployment...

New Office Rentals in Bucharest Drop To 60% Of Last Year

Real-estate developers completed 200,000 square meters of new office space in Bucharest, in the first six months of 2009, but the newly rented surface dropped to 60% of last year's, according to a study performed by...

Energy Prices Stifle The Romanian Economy

Companies in the energy sector in Romania all estimate profits - sometimes huge profits - while companies in the industrial sector strive to stay afloat while paying huge energy bills. The associations of owners note...

Romanian Subsidiaries Surpass Profit Of Mother Companies

Romanian subsidiaries of some multinationals had the net profit of their operations surpassing the one of the group they belong to, or even had the bulk of their mother-company profit originating in Romania, during the...

Boc ucide iar limba engleza

Boc către prinţul Felipe de Asturias: „Talk in English is save time, is save time, for the time being” Premierul Emil Boc l-a primit la Palatul Victoria pe moştenitorul Coroanei Spaniei, prinţul Felipe de...

EPP will decide whether they want EBA

The application of Elena Basescu (photo) to join the European People's Party (EPP) in the European Parliament (EP) is to be voted today. The EPP has 264 of the 736 mandates of the new EP (35.87% of the EP). EPP met...

4% decrease in the economy

The perspectives of the global economy remain "unusually uncertain", warns the World Bank. The institution has negatively revised its prognoses regarding the economic growth in 2009, forecasting a decrease of 4% of the...

Sell Of Luxury Cars Going Down In Romania Too

The financial crisis slowed down the sell of luxury cars in Romania too, with dealers having to put in more effort to make a sale to the Romanian rich, which are increasingly prudent with their luxury buys. The director...

Change Of Plans For The Bucharest-Brasov Highway

The National Company for Roads and Highways decided to change the plans for building the Moara Vlasiei - Ploiesti section of the northbound highway, and turn it from a four lane to a six lane highway. The company will...

For Money Launderer Turned Bank Adviser Gives Romanians A Few Tips

Kenneth Rijock has a criminal past, as a former money launderer. But after ten years of laundering close to one billion dollars - according to his own statement - he decided to move on the right side of the law and...

The Finance Minister, Gheorghe Pogea, promises he will unlock the VAT refunds

The financial blockage, which crushed the local economy during the first 15 years of capitalism, is felt again due to the effects of the economic crisis. The state is a major contributor to the "burial" of the firms, by...

Romanian Made Furniture Drops Our Of Favor

Demand for domestic made furniture is forecast to be 30% lower this year when compared to last year, to reach an estimated 820 milion Euro in sales, an InterBiz study found. The reasons lie in the downspiral of...

Half of the country has smaller wages

The wages of 50% of the Romanians were cut in March due to the financial crisis, particularly by the disappearance of bonuses, according to a GfK study. The most affected are the small employers and the freelancers:...

Recession comes in the third quarter

The toughest part of the recession will be felt by Romania in the third quarter, while the economy will start to grow in the last quarter, according to NBR. "Some time ago I thought the toughest point of the recession...

The European Commissioner, a technocrat, not a politician

President Traian Băsescu said yesterday that the naming of the European commissioner from Romania would be based on competence, not on political criteria. This put an end to the quarrel between PSD and PD-L on this...

23% less foreign investments

The foreign investments as a contribution to the capital of companies registered in Romania totaled nearly 1.3 billion Euros in the first four months of the year, 23% less than in the same period of last year. The...

EC Says Stamp Tax Should Be Null, While Court Fines Higher, For Botched Public Procurement Bids

The European Commission was less than pleased with alterations in March that Romanian authorities made to the laws regulating the public procurement process, which instituted a mandatory stamp tax of 2% of the contract...

Architects Ponder Over Crowded And Dysfunctional Capital City

Architects and environment NGO members met on Thursday to ponder over the pitiful state Bucharest had arrived at over the past 20 years of post-communist chaotic development, in meeting organized by Forum Invest. Lack...

Central Bank Not Sure Government Plan To Finance Mortgages Will Bode Success

The Romanian Executive announced new financing criteria for people buying their first house. But a top Central Bank officer was cautious about the chances for success the program held. Central Bank Chief Economist Valent...

US Contractor Bechtel Wants 250 Mln Euro More To Finish Highway

The US contractor Bechtel, which is in charge with building the Transylvania highway in Romania, wants 250 million Euro more to finish the work on the section between Cimpia Turzii and Gilau. Only 18-kilometer of the...
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