Archive » March 2009 » 23 March 2009 The english news from 23 March 2009
The government prepares to restructure 18 state companies
The representatives of employees working for the National Railway Company in Romania (CNCFR) are meeting today with the managers of the three railway divisions to discuss the plan for restructuring the activity in the field. According to a report sent to unions, the Ministry of Transportation is recommending the layoff of some 12,000 people of a current total 76,000 employees…
Transport Ministry suggests CFR should lay off 12,000 workers
The programme for the restructuring of the Romanian railway system submitted on Friday by the Ministry of Transport and Infrastructure to trade unions for consideration provides for a cut by 12,139 in the entire rail labour force. The ministry has in mind to lay off 5,949 workers of the CFR Marfa freight carrier and its subsidiaries…
Loan from IMF, a preventive move as Romania is not in desperate need of money, premier says
The loan Romania would contract from the International Monetary Fund (IMF) and other European institutions is a preventive move aimed at consolidating the central bank's reserves and supporting the weaker leu in a bid to resume lending, premier Emil Boc said. Romania could take 13 billion euros, of the 18 billion euro loan from the IMF while the rest of the money will be borrowed from the European Commission…
Romanian Labor Min Significantly Revises '09 Jobless Estimates
Romania's labor minister Marian Sarbu said Monday the number of the unemployed in Romania will be at around 800,000 at the end of 2009, significantly above the 525,000 initially estimated. Sarbu said the number of jobless will significantly exceed the initial forecasts, by around 200,000-300,000 people…
President Basescu: Austrian banks with branches in Romania, solid
Austrian banks with branches in Romania are solid, President Traian Basescu said on Monday at the end of the meeting with his Austrian counterpart Heinz Fischer, who mentioned in his turn that Austrian banks announced that they would maintain their credit lines. 'Categorically, the economic crisis can also affect Austrian interests, not only Romanian interests in Romanian economy…
Constructions in Romania hike 26% last year y/y to EUR 14.3bn
The volume of constructions in Romania increased last year by 26 percent over the previous one to 14.3 billion euros but towards the yearend started to feel the burden of the economic crisis, the head of the constructions entrepreneurs association Laurentiu Plosceanu said. Yet, the past year growth was in fact a 6 percent slowdown over the pace in 2006-2007, he added…