The Romanian Government will reduce the number of jobs in the Ministry of Public Finance by 14%, or 5,175, more than 95% of which will be eliminated from revenue service ANAF, according to a draft decision. read more...

Romania's Government will dissolve the Financial Guard and the Customs Authority, passing their duties on to revenue service ANAF, which will now collect and manage state budget income, conduct fiscal inspections, customs operations and financial guard operations. read more...

Fluctuations of 3% to 4% in the leu’s exchange rate are neglectable and should have minimum impact on prices, central bank governor Mugur Isarescu said Friday. read more...

Romania’s assumed task to lower the budget deficit could prove more challenging in 2011 than it was last year, because it entails a bigger budgetary effort, a senior economist with BRD-Societe Generale said Friday. read more...

Negotiations between trade unions and the management of the Romanian Commercial Bank - BCR have failed. BCR trade union representatives told HotNews.ro on Friday that starting today the employees no longer have a collective work contracts. Two employees have threatened hunger strike starting Monday, March 7. read more...

Bankers last year started a sterile war of refinancing deals, whose only outcome was improved coverage with guarantees, as many consumer loans were bundled into larger mortgage loans, but no additional sums were pumped toward clients. read more...

BRD Sogelease IFN S.A., the leasing division of BRD - Groupe Société Générale, concluded over 1,400 contracts in 2010, worth 99 million Euros, up 35% over 2009, according to a press release by the company. read more...

OTP Bank, the largest Hungarian lender, intends to increase its Romanian assets by up to 9% and it may buy loan portfolios from rivals in the country, the head of the local unit said, according to Mediafax, which quotes Bloomberg. read more...

Social Democratic Party (PSD) deputy Robert Negoita has claimed that representatives of Romanian fiscal authority ANAF demanded him bribes amounting to 500,000 euro to prevent fiscal controls on his real estate businesses. He told Antena 3 news channel that persons contacted him to "suggest" that he pay the money to be left alone. read more...

The apparatus of the Romanian Finance Ministry is too complicated, has little efficiency and in some areas is affected by corruption suspicions, according to a report produced by one of Romania's foreign lenders. read more...

Romania’s leu rose slightly against the euro in mid trade Thursday and the central bank’s reference strengthened to a fresh ten-month high at 4.2016 units, from 4.2051 units a day earlier. read more...

Romanian private pension funds should take more risks, Labor Minsiter Ioan Botis said Thursday at the Mediafax Talks about Private Pensions conference, adding different risk levels would ensure a more efficient asset management. read more...

About half of Romanian contributors to mandatory private pension funds (Pillar II) have amassed less than 500 lei (EUR1=RON4.2016) in their pension accounts since May 2008 when the system was launched, Mircea Oancea, head of the country’s private pension regulator CSSPP, said Thursday. read more...

Romanian Labor Minister Ioan Botis said Thursday that Romania's job occupancy rate has been 58% for the past 10-15 years and, unless it climbs to 64-65%, the state will be unable to pay pensions. read more...

Assets of private pension funds in Romania could top EUR1.6 billion this year, 60% more than in 2010, Mircea Oancea, head of the country’s private pension regulator CSSPP, said Thursday. read more...

NBR is gearing up for inflation caused by internationally rising prices for food and fuel, pushing leu higher and driving interbank interest rates up to the level of the monetary policy rate. This is the explanation analysts and dealers have found for past week's unexpected developments on financial markets. read more...

The assets of the 166 insolvent companies included in the portfolio of Casa de Insolvenţă Transilvania (Transylvania Insolvency Firm-CITR) do not cover even half of their debts, so that banks and suppliers are likely to lose almost 500m euros in the following years, either in the wake of these companies' reorganisation or liquidation. read more...

A financial consultant and superior counselor within Romania's fiscal authority ANAF and a Bucharest Bar lawyer were retained for 24 hours on Wednesday with a request for their 29-day arrest under charges of traffic of influence, according to a National Anti-corruption Department (DNA) press release. read more...

The Rompetrol group may issue bonds or get a loan should it reach an agreement with the Romanian government on paying its debt to the Romanian state, Tolegen Boznajov, chairman of the group, said in Almaty on Wednesday, as quoted by Bloomberg. read more...

Half of Romanians see the rising prices and inflation as their main problems, a third believe the crisis' impact on the labor market has not yet peaked, while 48% expect the job market to worsen in the next 12 months, says a Eurobarometer study. read more...