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Mihai Tanasescu, IMF: Romania will sign a new agreement to the EC similar with the current one

Observator de Bacau — Thu, 21 Oct 2010 14:21:26 +0000

Romania will sign a new financing agreement with the EC, similar to the current one, once the new preventive agreement with the IMF is signed, Romania's representative to the IMF Mihai Tanasescu declared, quoted by the Romanian news agency Mediafax.

Russian President urges Romania to be calm and balanced in negotiations for Transniester

Observator de Bacau — Thu, 21 Oct 2010 14:00:01 +0000

Romania's position regarding negotiations in Transniester should be calm and balanced, Russian President Dmitri Medvedev declared, quoted by Unimedia. He added that if Romania maintains the current stand, people in Transniester will never agree to unity with Moldova.

Famous former Romanian football player Gica Hagi to train Galatasaray

Observator de Bacau — Thu, 21 Oct 2010 13:59:20 +0000

Milliyet annonces an important move on the technical team from Galaltasaray: Romanian Gica Hagi will train the team for one year and a half and his deputy will be Tugay Kerimoglu. The former Romanian international will be officially presented on Friday, in a press conference at Florya, Milliyet reads.

US financially sustains Romania to set up a regional training center against IT frauds

Observator de Bacau — Thu, 21 Oct 2010 13:47:31 +0000

US Ambassador to Bucharest, Mark Gitenstein expressed the American interest and financial aid to help Romanian authorities to set up a regional training center against IT fraud in Bucharest, Romanian news agency Agerpres informs.

FITCH: Banks in Romania, Bulgaria and Hungary are most vulnerable in Eastern Europe

Observator de Bacau — Thu, 21 Oct 2010 13:47:00 +0000

Banks in Romania, Hungary and Bulgaria are most vulnerable in Eastern Europe to a new crisis, as the number of credits that do not perform is still high and the economic growth loaw, Fitch director Michael Steinbarth declared, quoted by Bloomberg.

The European Commission approved a financing of over 124 million euro for Arad Timisoara highway, West Romania

Observator de Bacau — Thu, 21 Oct 2010 13:46:22 +0000

The European Commission approved a 1.24,399,671 euro financing for a highway in West Romania linking two important cities, Arad and Timisoara. The sum was allocated from the EU cohesion funds, Transports ministry informs. The highway is 44.5 km long, of which 12.25 km represents a belt passing by Arad and 32.25 km is the length of the highway to link the two cities.

Dacia Sandero facelift available starting 2012 or 2013

Observator de Bacau — Thu, 21 Oct 2010 13:44:56 +0000

Dacia will release a facelift Sandero model in 2012 or 2013, Dacia marketing director Mihai Bordeanu declared at the launch of the new Sandero Orange model. Sandero was launched on the European market in 2008 and became the best sold model of the brand. It is very popular in France, Germany and Italy.

Mihai Tanasescu: talks with Economy representatives centered on the problems of public companies

Observator de Bacau — Thu, 21 Oct 2010 10:23:54 +0000

Talks with the IMF representatives and the Economy ministry centered on the problems of the public companies that currently monitored but a discussion to decrease the salaries within these companies was not tackled, Romania's representative to the IMF Mihai Tanasescu declared. He said that the idea of restructuring was not put on the table eiter.

What the newspapers say: October 21, 2010

Observator de Bacau — Thu, 21 Oct 2010 07:05:23 +0000

Parliamentarians voted two laws which create a 1 billion euro gap to the budget, by mistake: they voted for a 5% VAT tax for basic food products and that pensions below 2,000 lei should not be taxed. Hungarian Democrat deputy PM declared that the state's budget cannot afford these measures. On a lighter note, authorities plan to close the oldest railway in Romania.

Romania received 1.5 billion euro from the European Commission in 2009 through structural funds

Observator de Bacau — Wed, 20 Oct 2010 16:43:08 +0000

Romania received about 1 billion euro from structural funds, of which only 130 million were paid for projects and the rest were paid in advance to the state, an official document obtained by Euractiv/ HotNews.ro reads. Another 500 million euro are added from the pre-accession funds. Last year, Romania contributed to the EU with 1.218 billion euro.