Observator de Bacau - Romanian news - english edition

Notes on the Analytica report: Basescu and the Putin model

Observator de Bacau — Fri, 12 Mar 2010 17:05:00 +0000

“Basescu is probably attracted by the 'Putin model' in Russia: the creation of a political movement which dwarfs all others and ensures that he continues to rule behind the scenes”, an analysis published on March 8 2010 by prestigious British think-tank Oxford Analytica indicates. According to the OXAN study, entitled “ROMANIA: Political games distract minds from economy”, which starts with the attempt to replace Mircea Geoana from the Senate's leadership, Traian Basescu has a clear objective: “the creation of a political system in which the president is the only important player”, but his plan might have little chances due to political volatility, the British analysis believe.

Romania's current account deficit dropped 73.2% in January. Sums sent by overseas Romanians went up

Observator de Bacau — Fri, 12 Mar 2010 15:15:00 +0000

Romania's current account of the payments balance dropped by 73.2% in January against the same time last year, amounting to 123 billion euros, according to Romania's National Bank (BNR) data. The current account deficit was 459 in January 2009.

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Romanian IKEA Franchise was sold to Swedish group

Observator de Bacau — Fri, 12 Mar 2010 14:50:00 +0000

IKEA Romania has become part of the Swedish group IKEA starting with March 8, after local franchise owners decided to sell its operating rights and the store's franchise in Bucharest, a company's communiqu

PM: Romania risks ending up like Greece if reforms don't resume

Observator de Bacau — Fri, 12 Mar 2010 14:23:00 +0000

Romania risks ending up in Greece’s situation on a medium and long terming, should the state not resume reforms, believes Romanian PM Emil Boc. “I can say it very loud and clear: Romania cannot afford the luxury to stop the reforms it has already begun: the salary law, the pensions law, the national education law, decentralisation and others”.

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Fitch Ratings awarded BB+ to Romania's Eurobonds issue

Observator de Bacau — Fri, 12 Mar 2010 14:05:00 +0000

Fitch Ratings awarded BB+ to the Eurobonds issue that expires every five years, worth of one billion euros. It was launched on Thursday evening, March 11, by the Romanian state, a financial evaluation agency report shows. This rating is similar to that Romania received for long term foreign currency debt.

Romanian Justice Ministry: We've taken all necessary actions in Omar Hayssam case, but Syria didn't reply to our request

Observator de Bacau — Fri, 12 Mar 2010 10:59:00 +0000

The Romanian Justice Ministry announced on Friday, March 12, that it has taken “all the necessary actions” in Omar Hayssam's case, requesting Syria to answer the commission request made by the Romanian court in May 2009. The exchange of information between the Romanian Justice Ministry and the Syrian Arab Republic Justice Ministry were both t

Central Bank Governor: We don't need a spectacular recovery

Observator de Bacau — Fri, 12 Mar 2010 10:19:00 +0000

“We don't need a spectacular recovery”, Romanian Central Bank (BNR) Governor declared to Financial Times reporters, addressing the rather modest estimates regarding Romania's economic growth in 2010. According to the quoted newspaper, Isarescu tagged himself as “preoccupied” to not allow the national currency – the leu – appreciate too much in order to affect exports – the future economic growth engine.

TUI: Romanian tourism is 7-8 years behind Bulgarian tourism

Observator de Bacau — Fri, 12 Mar 2010 10:00:00 +0000

Tourism developed significantly in Bulgaria during the last years, while in Romania it doesn't really attract foreign investors, German tourism operator TUI manager for Maroc, Romania and Bulgaria Detlev Hohne told Deutsche Welle. He considers Romania's tourism development is seven to eight years behind Bulgaria.

Tarom Bucharest-Barcelona flight returned to Otopeni airport due to lost of pressure

Observator de Bacau — Fri, 12 Mar 2010 09:50:00 +0000

One Tarom flight scheduled fot the Bucharest-Barcelona route returned half an hour after taking off because of technical problems, news channel inform.

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What the newspapers say: Friday, March 12, 2010

Observator de Bacau — Thu, 11 Mar 2010 23:28:00 +0000

PM says the state will pay salaries when there will be money: sometimes during the next three years. Elsewhere in the news, Romania risks being fined 200.000 euros per day if it misses recycling targets. Last but not least, unique patrimony, centuries old books from the Pedagogic Library, are living their last week: the entire library is to be thrown out in the streets because it cannot afford to pay the 20,000 Euros monthly rent.

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