The listing of BCR, the biggest bank in Romania, has inflamed the five SIFs (financial investment companies), which hold 30.12% of the shares, on the one side, and majority shareholder Erste Bank, with 69.4% of the capital, on the other. Originally scheduled for October 2009, the listing was put off until October 2011. read more...

Romanian individuals should entirely receive the shares they will subscribe in the future stock sale offering the state will carry out at Petrom, while for the other categories of investors shares should be allotted in line with the subscribed sum (pro-rata), maintains the Association of Capital Market Investors (AIPC). read more...

The Government is changing the Labor Code so that Romanians find better paid work more easily, Romanian PM Emil Boc said on Monday. read more...

The General Council of Bucharest City approved on Monday the city budget for 2011, cutting 235 million lei from the amount reserved for the Lia Manoliu stadium and for the funding of major urban development projects, including the suspended highway proposed by Mayor Sorin Oprescu. read more...

Mountain rescuers in Busteni, central Romania, warned Monday that avalanches are likely to occur at high altitude in the Bucegi Mountains, as the new layer of snow might be pushed down by the ice underneath it. read more...

Romania's Government has decided to forbid collective labor contracts valid until later than December 31, 2011, as per the amended Labor Code, approved on Monday, which will be adopted through a vote of confidence in Parliament on March 8. read more...

Romanian employees who committed disciplinary infractions will be rehabilitated after a period of twelve months, according to an amendment to the Labor Code approved by the Government Monday. read more...

Employers using more than five people without work contracts will be punished by 1-2 years in prison or a criminal fine, will be denied state aid and EU funds and will be forbidden from taking part in public procurement auctions, says the amended Romanian Labor Code. read more...

The Romanian Government on Monday eliminated from the draft Labor Code a provision whereby companies which reduce or temporarily cease their activity may put their employees on unpaid leave, with the prior notice of the local union. read more...

Employers are allowed to have up to three successive employees on limited period work contracts, each no longer than 12 months, unless extended for the duration of project's development with the parties' written consent, says the amended Romanian Labor Code. read more...

Romanian telecom company Romtelecom signed last week a contract to take over the subscriber base and other actives of DTH Television Grup, the owner of digital satellite television Boom TV, for which it offered 8 million euro, Adrian Lotrean, partner at Transilvania Insolvency House, the judicial administrator of the company, told HotNews.ro. read more...

Estimations show the Romanian GDP dropped by 1.2% in 2010 as compared to 2009, less than the 1.8% drop expected by EFG Eurobank and other entities on the market, while on seasonally adjusted data the GDP grew by 0.1% in Q4. read more...

The head of Romania's fiscal authority ANAF, Sorin Blejnar, said on Monday he was "in no way" considering resignation given that he has implemented the single income statements successfully and contributed to the fight against corruption in Romania. read more...

National Liberal Party (PNL, opposition) president Crin Antonescu said on Monday that the replacement of President Traian Basescu and of the Government was not "unrealistic" and that it is the target of the Social Liberal Union - the alliance of PNL with fellow opposition Social Democratic Party (PSD). read more...

Romania’s Government will seek a confidence vote in Parliament to pass new labor legislation next Tuesday, March 8, and amendments to the bill are expected until Friday evening, said Senate vice-president Ioan Chelaru after the Parliament’s standing office meeting. read more...

A Romanian C-130 HERCULES aircraft left Bucharest Monday on its third mission to evacuate Romanian citizens from Libya, while another plane, a C-27 SPARTAN already in Malta, will leave for Tripoli later in the afternoon, according to the Defense Ministry. read more...

Romania posted the highest inflation in the European Union for the sixth consecutive month in January, while the EU average rate was stable at 2.7%, official data showed Monday. read more...

Romanian Hungarian Democratic (UDMR) Senator Gyorgy Frunda said in an online talk with HotNews.ro readers on Monday that he considered himself as a representative of the opposition within UDMR, a political group which elected a new leader in a congress this weekend. UDMR's newly elected president Kelemen Hunor wants his party to remain a part of the coalition government led by Democratic Liberals (PDL). read more...

Simona Fatu, a member of the Volksbank Romania board, will leave the position starting March 1, according to a press release of the bank. read more...

Romanian Foreign Minister Baconschi will pay a visit to Israel on February 28; a visit to the Palestinian National Authority is on Baconschi’s agenda on March 1, informed Foreign Ministry spokesperson Doris Mircea. read more...