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CFA Romania: Forbidding sale of state shares in companies may affect capital development

Wednesday, May 27, 2020

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The bill forbidding the same of state shares in companies for two years  adopted by Senate recently can affect the development of capital market in Romania and will not help economic recovery this year and the years to come, CFA Romania analysts consider. Financial analysts consider inopportune to narrow down the possibility of free transaction for shares held by the Romanian state. They show that protecting the state's economic interests should ...

Economy Minister wants Strategy for continuation of Cernavoda Units 3 and 4 project rescinded

Wednesday, May 27, 2020

The Ministry of Economy sent National Company Nuclearelectrica SA the request to complete the agenda of the June 12 Ordinary and Extraordinary General Meeting of Shareholders, one of the items being the rescinding of the strategy for the continuation of the project for the Cernavoda Units 3 and 4 by organizing an investor selection procedure, informs a company release to the Bucharest Stock Exchange."The National Company Nuclearelectrica SA ("SNN") informs the ...

Govt. funds urban plan to help with Rosia Montana's inclusion on UNESCO heritage list

Wednesday, May 27, 2020

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The Public Works, Development and Administration Ministry (MLPDA) announced it would finance the drafting of the general urban plan (PUG) at Rosia Montana, to serve for the site’s inclusion on the UNESCO heritage list. The announcement came as MLPDA approved the 2020 financing for the drafting or update of general urban plans or local urban regulations (RLU) for county and local councils. The ministry received financing ...

Court rejects Liviu Dragnea’s jail release request

Wednesday, May 27, 2020

Romania's High Court of Cassation and Justice (HCCJ) rejected on Monday, May 25, the appeal filed by former Social Democrat leader Liviu Dragneaagainst the execution of his jail ...

Archbishop of Tomis Teodosie officiated the Easter Service on Tuesday night

Wednesday, May 27, 2020

Archbishop of Tomis, Teodosie has taken an unusual stance, announcing last week he will conduct a new Easter religious service Tuesday night, as the service on Easter in April could not be officiated with the participation of believers due to the lockdown imposed by the state of emergency. “Due to the state of emergency prompted by the SARS-CoV- 2 pandemic, believers could not attend the service in full communion with the clergy. ...

PM Orban: 6 December, the most probable date for parliamentary elections

Tuesday, May 26, 2020

Prime-minister Ludovic Orban stated on Saturday that 6th December is the most probable date for parliamentary elections, but he mentioned that it must be seen how strong the epidemics is during the respective period and if it allows the organization of an electoral campaign.‘ As regards the parliamentary elections, they must be organized on 6th December the earliest, as there must be a connection to the ending of the mandate of the present parliament and the ...

New successful international mission completed by Coast Guard under FRONTEX aegis

Tuesday, May 26, 2020

Patrol boat MAI 2114, belonging to the Mangalia Ships Group, returned on Monday morning to its base port after a mission of approximately 3 months in the Aegean Sea, carried out under the aegis of the European Border and Coast Guard Agency FRONTEX, informs a press release. According to the Coast Guard, between March 16 - May 22, the 23 members of the MAI 2114 crew, belonging to the Coast Guard, carried out a rapid intervention operation at the border "RAPID ...

MApN specialists on mission to Alabama, US

Tuesday, May 26, 2020

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Romania's Prime Minister Ludovic Orban on Monday wished success to a specialist team from the country's National Defence Ministry (MApN) who are going on a mission to the US state of Alabama to offer support to local governments in the fight against COVID-19, emphasising that between the United States and Romania there is a "solid" strategic partnership that generates common actions in all fields of activity."There is a team of 15 doctors, nurses, and CBRN ...

Romania's coronavirus death toll rises by three to 1,207

Tuesday, May 26, 2020

Another two people infected with the novel coronavirus have died in Romania, taking the number of COVID-19 fatalities to 1,207, the Strategic Communication Group (GCS) announced on Tuesday morning. In the week of May 18 - 24, 42.4% of the total cases of COVID-19 in our country were registered in Suceava, Bucharest, Neamt, Botosani and Arad, informs on Monday the National Institute of Public Health (INSP). According to an INSP report, considering the ...

Govt. to pass loan guarantee scheme for large companies

Tuesday, May 26, 2020

Government will endorse in its next meeting a support scheme to guarantee loans extended by banks to large companies and subsidize part of the interest, according to the head of the prime minister's office, Ionel Danca. The support scheme follows the model of IMM Invest, a program designed for small and medium enterprises (SMEs). It will be adopted by emergency ordinance in next week's government meeting, Danca said on Thursday, ...

Convergence Programme for 2020: Government debt estimate at 40.9 pct of GDP in end-year

Tuesday, May 26, 2020

The share of gross government debt according to the European Union methodology will be 40.9 per cent of the GDP at the end of 2020, compared to 35.2 per cent in 2019, according to the Convergence Program for 2020 published by the Ministry of Public Finance ( MFP)."Given the contraction of the economy of about -1.9 per cent, a depreciation of the national currency against the euro, the main currency in which public debt is denominated and a deficit calculated ...

Convergence programme for 2020: Economic activity expected to show serious drop in Q2 (-14.4pct)

Tuesday, May 26, 2020

The economic activity in Romania will see a severe drop in the second quarter of this year, by 14.4 per cent, while the impact on the manufacturing industry in the mentioned period will be about 18 per cent, and the decline in manufacturing textiles and clothing, leather, and also in the automotive industry will exceed 35 per cent, according to the 2020 Convergence Programme published by the Ministry of Public Finance (MFP)."The forecast of gross domestic product ...

Over 400,000 jobs lost in Romania since mid-March

Tuesday, May 26, 2020

Over 0.4 million labor contracts were terminated in Romania from the outset of the state of emergency, on March 16, until Friday, May 22, according to data centralized by the Labor Inspectorate and published by the Ministry of Labor and Social Protection. Of the 403,459 employment contracts terminated, 71,603 are in the sector of services for households (including retail), 71,300 in the manufacturing industry, and 59,583 in ...

Tiberiu Moisa ( Banca Transilvania) Agriculture will be an intense domain from the point of view of investments

Tuesday, May 26, 2020

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Agriculture will be first for the next years in Romania, a domain intensely used from the point of view of investments, stated on Wednesday Tiberiu Moisa, deputy general manager MidCorporate &IMM Banca Transilvania, in a specialty video-conference.He mentioned that things are not longer at the beginning, and the Romanian agriculture is no longer similar to 20 years ago, but it has not arrived where it could have been.‘I think this is a moment ...

The Association of the Constructions of Automobiles in Romania, considered to be of public utility

Tuesday, May 26, 2020

The Association of Automobile constructors in Romania (ACAROM) was acknowledged as being of public utility, according to a decision approved on Thursday by the government, announces the ministry of economy, energy and business environment which says that in the 309 assembly factories out of the 27 countries in the EU there are produced annually 19.2 million vehicles, sector which in Europe has over 13.8 million employees. ‘The government, at the ...

Air France to resume, as of June 3, flights on Bucharest - Paris route

Tuesday, May 26, 2020

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Air France will resume flights from Bucharest to Paris as of June 3, after a break of approximately two months, and initially, the route will be operated once a week, and from June 22 it will be operated daily, informs the air operator."Air France is announcing the resumption of flights between Paris Charles de Gaulle Airport and Bucharest Henri Coanda Airport starting June 3, 2020, after a break of approximately 2 months. The flights are operated under extensive ...

Blue Air to resume regulate flights in early July

Tuesday, May 26, 2020

Blue Air, the Romanian low cost airline, has announced today it is resuming regular flights as of early July, in stages, after a programme correlated with the European movement regulations. Until then, Blue Air will operate only charters and flights on demand, depending on the travel rules specific to every destination and depending on the existing demand. The airline says that these flights “are part of a plan of ...

Tarom announces one-off flights to several European countries

Tuesday, May 26, 2020

Romanian flag carrier Tarom announced on Facebook that it would operate one-off flights from Bucharest to Italy, Spain, Belgium, and the Netherlands, on May 26 and 28. So, Tuesday flights are from Bucharest to Rome and Milan and back, according to an announcement on its Facebook page. "At your request, we introduced the next flights to and from Italy on 26 May 2020: Bucharest - Rome - Bucharest, 208 euros, with 10 kg cabin luggage and 30 kg hold ...

Former Health minister Sorina Pintea, under judicial control in corruption file

Tuesday, May 26, 2020

Former Health minister Sorina Pintea will be eventually under judicial control, after Bucharest Court of Appeal had admitted the anti-corruption prosecutors’ appeal against the judicial control on Friday. Pintea is charged with bribe taking. The former SocDem minister hasn’t attended the court hearing, as she invoked she would jeopardize her health if infected with the novel coronavirus. On May 11, Bucharest Tribunal ...

The former bishop of Husi, accused of rape, was arrested on remand; the decision is not final

Tuesday, May 26, 2020

Former bishop of Husi Corneliu Onila, also known as Bishop Corneliu Barladeanul, has been remanded , on Friday, for 24 hours by the prosecutors of Iasi Court of Appeal, under the charge of rape and sexual abuse against one of his former students from the Orthodox Theological Seminar in Husi where he used to be a professor. The decision is not final. The former archimandrite of the Episcopal Cathedral in Husi, Sebastian Jitaru has been also detained ...

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