The world economic situation is volatile, while in Europe it can only be a reason for concern. The Sarkozy-Merkel plan was not of a nature to appease tension on international markets, but on the contrary, those managed to plunge more deeply under the burden of concerns over announced measures which investors did not find reassuring at all. Meanwhile gold and silver continue their mad race to new record highs while the same investors are looking for refuges for any funds they may have, as stock markets and classic investments no longer offer any solid guarantees. read more...

There are premises for an economic growth of 3.5 pc in 2012, yet forecasts very much depend on what happens in the euro zone, Europe, America and other parts of the world, Premier Emil Boc said yesterday, who added that external “turbulence” could result in “slowdown”, Mediafax reports. read more...

Traian Basescu received Pirelli Group President Marco Tronchetti Provera at the Presidential Palace yesterday, thanking him for continuing to invest in Romania and talking with him about the need for cost restructuring, telling him that governments should apply the measure too, Mediafax informs. read more...

Under-Secretary of State and Vice-President of the National Agency for the Restitution of Property (ANPR) Remus Baciu is charged with taking over EUR 300,000 bribe to expedite the processing of certain claims. read more...

Greece’s second and third-largest lenders, Eurobank and Alpha Bank, are to merge as banks in the recession-hit eurozone member come under pressure to consolidate. Under the terms of the agreement, Alpha Bank shareholders will hold 57.5 per cent of the merged lender and Eurobank shareholders 42.5 per cent, english.rfi.fr reports. read more...

Following its suspension from the trading of carbon emission certificates, Romania has lost ‘1.2 bln ( EUR – our note) at current prices, having certificates worth some 3 bln (EUR – our note) at 2008 prices’, Romanian President Traian Basescu stated during a visit to Rosia Montana yesterday. read more...

The President stated yesterday during a visit at Rosia Montana that the Rosia Montana mining project has been buried since 1997 because of the politicians’ cowardice. “The cowardice of politicians that wanted no headaches is one of the serious reasons why this project has laid buried since 1997. Had the project started in 1997 the hike in the price of gold would have found us in the midst of carrying it out. The politician has to take the right decision eventually,” the President stated, being quoted by Mediafax. read more...

A number of 62,348 candidates yesterday took the first written test of the second session of the baccalaureate examination this year. The test subjects were sent under proper security measures to all the examination centres nationwide, and the test started at 9.00 am as scheduled. No fewer than 164 candidates were eliminated from the examination for fraud or attempt to fraud, HotNews.ro quoted Education Ministry sources as saying. Fifteen candidates were expelled from the examination in Bucharest alone, according to centralized data by 11.30 am from the School Inspectorate. They were kicked out of the test for fraud or use of electronic devices, according to Bucharest General School Inspector Cristian Alexandrescu. read more...

Japan’s governing Democratic Party (DPJ) has chosen Finance Minister Yoshihiko Noda as its leader, lining him up to become the country’s sixth prime minister in five years, according to the BBC. read more...

Romania's fiscal strategy was agreed upon with the EU and IMF, and does not affect current public wages or pensions, but the value of these payments in 2012 will be set through next year's budget and wage law, according to developments on foreign markets, Prime Minister Emil Boc said Friday. read more...

Romanian president Traian Basescu said Friday he supports the Government’s recently adopted fiscal strategy, adding Romania would default if it keeps borrowing money to pay wages and pensions. read more...

The Romanian Development Ministry significantly increases fines charged to homeowners and local authorities who fail to carry out technical inspections and start rehabilitation works on buildings considered to have a high seismic risk. read more...

Romania's Government will extend the deadline by which it must provide at least 6% of the GDP to the education system by two years, until 2014, arguing that it would entail an additional budgetary burden of more than 46 billion lei (over EUR10 billion) in 2012 and 2013. read more...

Romania's Government will change the building, land and vehicle tax system, introducing a new calculation method that will allow earnings from this source to increase by more than 1 billion lei (EUR233 million) over the next three years. read more...

Romanian public sector employees will receive no vacation, gift or meal vouchers until 2014, no bonuses until 2013 and will be rewarded for overtime with free hours only, according to the Government's fiscal-budgetary strategy for 2012-2014. read more...

Romania's Government will block certain pension raises, which would have taken effect next year, until 2014, arguing that the lack of a "sustainable framework" for the pension law's application will increase the social security budget deficit. read more...

The European Commission on Thursday approved Spain's request to restrict its labor market to Romanian workers until December 31, 2012 due to serious disturbances on its labor market, the EC said in a press release. read more...

Romania will raise fines for the selling, importing, exporting and production of products that can be mistaken for food to 1,000-3,000 lei (EUR400–EUR1,200) from the current RON70-RON100, according to a draft order of the Romanian Consumer Protection Authority. read more...

Spain will not be allowed to decide unilaterally when to lift restrictions for Romanians main workers on its labor market and the European Commission may ask for the restrictions imposed on July 22 to be lifted anytime, official sources told Mediafax Wednesday. read more...

A car was held up Tuesday morning on the Bucharest-Pitesti highway in southern Romania by three masked individuals, who took, at gunpoint, 22.7 kilos of jewels and the car keys, then drove off toward Pitesti, the Police said. read more...