Romanian President Traian Basescu said Tuesday on public radio he does not rule out the possibility of several state-owned companies to go bankrupt, adding the Government does not have to always step in and save these companies. read more...

Romanian President Traian Basescu said Tuesday on public radio that "Romania has to walk the wire, carefully, without populism, but with pragmatism." read more...

The European Commission's plan to reduce the co-financing that must be provided by six EU member states to access EU funds, to 5% from 15%, may save Romania as much as EUR714 million. read more...

Romanian Finance Ministry Wednesday sold EUR462.6 million in four-year foreign currency bonds, below the planned amount, at an average yield of 4.85% a year. read more...

Romania's National Agency for Fiscal Administration (ANAF) has decided to notify the National Anti-corruption Department (DNA) about Victor Ponta, president of opposition Social Democratic Party (PSD) and Social-Democratic Senator Dan Sova. read more...

Romania’s consolidated budget posted a deficit of 11.3 billion lei (EUR2.65 billion) in the first six months, equal to 2.07% of the gross domestic product, Finance Ministry data showed Monday. read more...

While Romania is out of recession this is not the time for champagne and it should keep the pace of reform and avoid the mistakes of 2008, Romanian PM Emil Boc said at the beginning of talks with representatives of an IMF, European Commission and World Bank delegation to Romania. read more...

Romanian Prime Minister Emil Boc asked the ministers to penalize EU fund beneficiaries who are overdue in implementing their projects, so that the money can be diverted towards other European developments. read more...

The Romanian national currency leu (RON) was traded at a rate of 4.2910 RON/Eur on the interbanking market on Tuesday, due to worries related by the Greek and Italian crisis. Market dealers told HotNews.ro that buying was aggressive but that was a trend noticed on all markets in the region and was not a cause for panic. Central bank BNR set the Tuesday rate at 4.28 RON/Eur, as compared to 4.22 RON/Eur on Monday. read more...

Bulgaria created a ministry in 2010 to deal exclusively with the seven operational programs funded by the EU. In an interview with hotNews.ro, Bulgarian minister Tomislav Donchev, 38, tells how his ministry managed to absorb five times more European funds in one year than in the period of 2007-2009. read more...

Romanian President Traian Basescu received European Commissioner Neelie Kroes in Bucharest on Monday. He used the occasion to note that Romania adopted necessary measures to combat the economic crisis a year before other countries but that fact was not acknowledged by anybody for the time being. read more...

Over 600 National Customs Authority employees, or one third of the employees who have received a layoff notice, will be sacked based on the results of an evaluation scheduled for July 18-July 29, tax authority ANAF president Sorin Blejnar said Wednesday. read more...

"Piraeus Bank" România will provide market making services for Romanian government bonds, for the first time in Romania, starting with July 1st, 2011, according to Alin Barbu, deputy managing director of the Bucharest Stock Exchange (BVB). read more...

The Government of Romania is expecting an economic growth of 1.5 percent in 2011 and of 3.75 percent in 2012, on solid exports and gradual recovery of domestic demand, according to a letter of intent of the Romanian Government to the International Monetary Fund (IMF). read more...

The government committed to cease any extension of management contracts at state owned companies after January 1, 2012 and the selection will be international, as HotNews.ro exclusively wrote. The intent letter of the government reads that not just CEO positions will be out on the market but also the positions of financial directors. The new managers will have the liberty to operate the modifications they will see fit. read more...

The Greek Parliament voted on Wednesday the austerity budget for five years, in the context of the violent outbreak on the streets of the capital city, Reuters informs. PM George Papandreou committed before the vote to do anything to avoid a default. Parliamentarians voted with 155 votes for, 138 against and 2 abstains the austerity budget. read more...

Analysts don't think that the National Bank of Romania will change the monetary policy rate, in today's meeting of the Board of Directors. Still, should there be any changes in the monetary policy, this would limit inflationary pressures, considers John Lipsky, the interim director of the IMF. read more...

French Economy minister Christine Lagarde was named director of the IMF, becoming the first woman to occupy the position, AFP reads. The IMF board chose Lagarde as general director and president of the board for a 5 year mandate starting July 5, 2011 a press release of the IMF reads quoted by Reuters. read more...

The advance of the exports and industrial production decreased in the second quarter according to preliminary data which will lead to an economic growth below the level of the first quarter, IMF chief of Romania Jeffrey Franks said in an interview for news agency Mediafax. read more...

President Traian Basescu declared on Tuesday after a meeting with the Greek President that Greece is the fifth investor in Romania in the banking sector, food sector, telecommunications and others. All the seven banks that operate on the Romanian market have a good behavior and do well and honest, Basescu said. read more...