Archive » August 2010 » 18 August 2010 The english news from 18 August 2010

  • Fourteen private pension fund managing companies fined 5.2 bln RON

    The Competition Council (CC) has issued fines worth 5.2 bln RON to a number of 14 mandatory private pension fund managing companies that "connived" to flout the law on the distribution of individuals who registered with two or several funds. "The managing companies of Pillar II funds breached the law on the distribution of persons who registered…

  • Businessmen complain fiscal legislation difficult to apply

    The CONPIROM representatives claim that companies are finding it increasingly hard to understand and apply the fiscal legislation and the recent changes brought to the Fiscal Code will encourage tax dodging. The latter, in the employers' view, has reached as much as 60 per cent in some sectors following the VAT hike, Mediafax informs. "The standards recently adopted by the government are not harmonized…

  • BCR experts estimate 9.4-pct unemployment rate by end 2010

    The unemployment rate in Romania will reach 9.4 percent at the end of 2010, given that by the beginning of the next year, around 60,000 jobs in local and central public administration will be slashed, the equivalent of nearly 4.4 percent of the total public sector jobs, reads the quarterly report on Romania's macroeconomic situation, published by the Romanian Commercial Bank (BCR).…

  • Funds for surveys, not for roads

    The Transport Ministry has prepared a survey through which it plans to find out the routes taken by Romanian drivers during the holidays. According to 'Gandul' daily, approximately 2,800 drivers could be asked to pull over in order to fill out a questionnaire concerning the routes they use during the holidays. The survey, dubbed "Origin - Destination Investigation,…

  • Raiffeisen Bank Romania posts EUR 50 M net profit in H1

    Raiffeisen Bank Romania posted a net profit of EUR 49.98 million for the first half of 2010 and an operational profit of EUR 83.8 M, a press release informs. The results are largely in-line with the net profit of EUR 52.7 M and operational profit of EUR 106.2 M Raiffeisen Bank had reported in June 2009. The bank's gross income in the first six months of 2010 dropped by 12 pc…

  • Romania is European leader in construction sector, in June

    Romania registered in June 2010 compared to May 2010 the highest increase in the volume of construction works in the European Union (16.5 percent), followed at a distance by Spain (7.2 percent) and Poland (4.5 percent), according to the data presented by the Statistical Office of the European Commission (Eurostat) on Wednesday.…

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