Archive » November 2009 » 05 November 2009 The english news from 05 November 2009
World's biggest tour operator to stage a comeback to Romania
TUI, the world's largest tour operator, will come back to Romania after a four years' absence and it will publish a special pamphlet promoting Romania as a summer destination, Tourism Minister Elena Udrea said on Tuesday. 'TUI has returned to Romania after four years and today's meeting with TUI officials marks the culmination of our efforts that started back in March at the Berlin Travel Fair'…
Printers as cost-cutting solutions
Calculating the cost per page, reducing electricity consumption, and a more efficient use of paper are only a few of the functions included in new standard printer models. Thus, peripheral equipment producers are changing their strategy, to delivering complete office supply solutions, in which the hardware component is secondary, to meeting the needs of business clients to cut costs, given the current economic downturn…
Legislative rules Boc Gov't must submit 2010 budget
The Parliament passed yesterday a decision allowing the Boc government to come in the Legislative with the draft budget for 2010. Vasile Blaga, interim minister of the Interior, told Hotnews.ro that PDL will challenge the Parliament's decision at the Constitutional Court. During the same meeting, after the plenum of the two Houses decide with majority of votes, to bring two fresh topics on the day's agenda…
Alcatel-Lucent Romania transfers 20 workers to H-P
Alcatel-Lucent, one of the world's largest telecom groups will transfer 20 workers to US-based computer-maker Hewlett-Packard (HP), under the ten-year partnership between the two companies. The partnership between Alcatel-Lucent and Hewlett-Packard involves more than the transfer of 1,022 workers. The two companies signed a ten-year partnership to develop and market communication and computing products…
Orange Romania's nine-month revenues down 18.9%
Orange Romania, largest mobile telecom group in the country, reported 18.1% decline in revenues in the nine months through September this year to €800 million from €977 million in the year-ago period. The telecom giant's revenues from Romania fell the most in third quarter this year, by 22.9% to €269 million…
Top of first tend large debtors to state budget
The unpaid debts of big contributors to the state budget grew in the thirs quarter by one billion lei, to 6.41 billion lei, in the context in which the largest debtor was the National Coal Company and six companies have to pay over 300 million lei each. At the end of June, the obligations of the biggest ten debtors to the general consolidated state budget amounted to 5.47 billion lei…
Competition investigates arms tender
The Competition Council initiated an investigation about a possible understanding between the firms participating in the tenders organized by the Arms Department of the Defense Ministry. The investigation refers to a possible understanding among four companies from Romania, Germany and Switzerland about the participation with tricked offers in the tenders organized by the Defense Ministry…
Eurostat:Romania's trade deficit with USA stagnated in first quarter
Romania registered a balance of trade deficit of 109 million euros in the first half of the year, on the rise by 0.1% compared to the same period of 2008, while the EU trade excess with the US was reduced by half, according to Eurostat data. In the first half of 2008 Romania's trade deficit with the United States was 108 million euros…
Jobless rate expected to touch 9% this year
The unemployment rate is expected to rise from 5.8% in 2008 to about 9% in 2009, followed by a gradual easing to about 8.7% in 2010, according European Commission's autumn forecasts. In its spring forecasts, EC expected the unemployment rate to grow to 8% in 2009 and then decline to 7.7% in 2010. EC data are calculated by the methodology of International Labor Bureau…
Joschka Fisher: Nabucco project needs wide political support
Caretaker Foreign Minister Catalin Predoiu received on Tuesday RWE/OMV political adviser on Nabucco project Joschka Fischer, the Romanian Ministry of Foreign Affairs (MAE) informs in a release . Within the meeting aspects related to the current stage of Nabucco gas pipeline development were discussed, as well as the next steps in view of the materialization of this project…
NBR keeps rate at 8%, cites political uncertainties
The policymaking group of National Bank of Romania left its benchmark interest rate at 8% and required reserve ratio for leu liabilities at 15% and for fx liabilities at 30% in the last rate-setting session of the year. The central bank's decision to keep key rate on hold came as a surprise to analysts who expected a 25basis point cut in today's session…
ROMANIA: Gradual recovery and correction of imbalances under way
High external and fiscal imbalances increased Romania's exposure to the global economic downturn. The economic boom between 2004 and 2008 has led to overheating pressures and unsustainable fiscal and external imbalances: real GDP growth in this period averaged 6.6%; inflation peaked at 8.4% in Q2-2008; the current account deficit reached 12.3% of GDP in 2009…
Autumn forecast 2009-2011: EU economy on the road to a gradual recovery
The EU economy will emerge from recession in the second half of 2009. A relatively strong temporary pick-up is in the cards for the near term, with a more gradual recovery foreseen in 2010-2011. The Commission issued on 3 November 2009 its autumn economic forecast in which it foresees that the EU economy will emerge from recession in the second half of 2009…