Finance, Banking and Economic News - 5 April 2011 -
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Finance, Banking and Economic News
5 April 2011

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Romania’s net average salary in February was at 1,414 lei (EUR1=RON4.1333), down 0.7% compared with the previous month, Romania’s statistics institute said Tuesday. read more...

Romania's High Court of Justice upheld an appeal filed by the prosecutor general concerning Law 221/2008 on increasing wages in the education sector, so teachers will be paid the difference between salary rights set by the law and the real wages they received until December 31, 2009. read more...

Over half of retailers active in Romanian malls posted sales increases of up to 30% in 2010, compared to 2009, according to a survey published Tuesday by real estate consultants Colliers. read more...

The Indian car producer Tata Motors considers the possibility of an investment in Cluj, central Romania as representatives of the Indian group meet local authorities, Romanian news agency Mediafax reports. read more...

Romanian economy is likely to grow by a meager 1% in 2011, mostly driven by exports, but domestic demand remains subdued, Ernst & Young said in a report Tuesday. read more...

Lowering the general social security contributions would help stimulate business competition in Romania, a central bank official said Tuesday, adding that the measure shouldn’t take too much of a toll on the government budget. read more...

Romanian carmaker Dacia, owned by French group Renault, might cease production for a few days after Easter due to shortages of car parts from earthquake and tsunami-hit Japan. read more...

The committee for budget and finances in the Romanian Chamber of Deputies on Tuesday rejected a bill reducing VAT on basic foods to 5%, as well as another making pensions lower than 2,000 lei (EUR1=RON4.1147) tax-exempt. read more...

Romanian investment fund Fondul Proprietatea (FP.RO) has asked the Bucharest Court to start insolvency procedures against the World Trade Center in Bucharest. read more...

Anti-graft prosecutors sent on Tuesday, to the Justice minister Catalin Predoiu a request to lift parliamentary immunity of Romanian MEP Adrian Severin, suspected of bribe taking and traffic of influence following the Sunday Times reveal of the laws for money scandal involving three MEPs including Romanian Severin. Catalin Predoiu would have to send this request to the European Parliament President Jerzy Buzek. read more...

The committee for defense in the Romanian Chamber of Deputies on Tuesday adopted an amendment to the ordinance extending the period in which military pensions will be recalculated, which says that if a pension is lower after recalculation, the pension shall retain its original value. read more...

PM Emil Boc declared on Tuesday night in an interview for Realitatea TV news television that he is not on the point to resign but to assume responsibility in the Parliament for another law. Boc said that the chief of state never asked him to resign. read more...

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