Archive » April 2009 » 22 April 2009 The english news from 22 April 2009
EC Proposes European Council To Provide EUR5B Financial Aid To Romania
The European Commission agreed Tuesday to propose the European Council to provide medium-term financial assistance to Romania of up to EUR5 billion, as part of a multilateral package which will total up to EUR20 billion. The financial assistance is conditional upon the implementation of a comprehensive economic program to which the Romanian authorities committed to and which will…
Petrom paid 42.5% more for salaries year-on-year in 2008
Romania's largest company, Petrom, part of the Austrian OMV oil and gas group, paid salaries and benefits worth some €500 million in 2008, and is still negotiating revenue increases for 2009 with trade unions. Petrom had on average 29,861 employees last year, who were paid total salaries worth RON 1.807 billion (€494.58 mln), 42.5 percent higher year-on-year, according to data published in the company's annual report…
Car sales in Romania drive down 56% in Q1 y/y on fewer orders
The car sales in Romania plunged an annual 55.97 percent in the first quarter this year to 67,401 units as orders reduced owing to the financial crisis, the Association of Car Producers and Importers (APIA) announced. Car sales in March, both from domestic production and import, lowered by 46.17 percent from 25,050 in March last year to 13,484 this year…
Interventions from European funds, reaction to effects of crisis
Romania appreciates the interventions from the European funds as veritable instruments of reaction to the effects of the global economic crisis, with the two countries, Romania and Poland to support the maximization of the absorption of such funds, Romanian Minister Vasile Puscas, head of the Romanian Department of European Affairs said on Tuesday…
State employees paid better than Romania's president could see their salaries frozen until 2015
Representatives of the Labor Ministry declared for NewsIn that the deadline for applying the law should be extended to 2015, given the unfavorable economic background in 2009 and 2010. However, shifting from the current salary system to the new one will not allow for anybody to see a slash in the gross salary calculated according to the present regulations…
Fitch: Bulgaria, Romania to Join Eurozone in 2015
Fitch rating agency has forecast that Bulgaria and Romania will join the euro area in 2015, specifying that the timetable is likely to be changed. "Despite EU concerns about the problems faced by some countries in Eastern Europe, its willingness to provide substantial financial assistance and the possible political attractiveness of a 'quick fix', Fitch does not expect a relaxation of EU policy on joining the euro area", reads the press release remitted by Fitch…
EU dismayed by Romania mass citizenship plan
EU institutions are appalled at Romania's proposal to give citizenship to up to 1 million Moldovans - a project that could damage Romania's standing inside the union. If the scheme goes ahead and Moldova retaliates by making dual citizenshipillegal, the EU country would effectively annex one quarter of its neighbour's population in a scenario described by one EU official as "frightening" in terms of regional stability…
I.M.F. Puts Bank Losses From Global Financial Crisis at $4.1 Trillion
As finance ministers gather here this weekend for meetings of the International Monetary Fund and the World Bank, they will focus on two eye-popping numbers: $4.1 trillion, the fund's latest projected losses from the global economic crisis, and $1.1 trillion to help fix it…
Prince Albert of Monaco pays official visit to Romania
Prince Albert II of Monaco is paying an official visit to Romania on April 23 and 24 this year, at the invitation of President Traian Basescu, Presidential Administration announced on Wednesday in a press release. Within the official talks, the two heads of state will refer to the boosting of the political dialogue between Romania and the Principality of Monaco…