At this moment, the government has no intention to reduce the value added tax (VAT) or the flat tax, as some employer organizations have requested, Prime Minister Emil Boc declared. read more...

Pensions will increase in 2012 and so will public wages, and there are premises for the 25-percent cuts in the public wages conducted in 2010 to be recouped, Labour Minister Ioan-Nelu Botis told a televised debate. read more...

Romanian ruling coalition parties will most likely sign a collaboration protocol on Wednesday, Prime Minister Emil Boc said Monday. read more...

The Romanian Government on Monday approved the final draft of the Labor Code, for which it plans to seek a confidence vote in Parliament later this week. read more...

The deal by which the state wants to sell a 9.84% stake in Petrom (SNP), the biggest Romanian company, will be the biggest one sealed so far on the Bucharest Stock Exchange. read more...

The general consolidated budget posted 819 million lei (193 million euro) in surplus in January compared with a surplus of 15 million lei in the same time of 2010 because of the increase in the VAT receipts and of the lower spending related to the wages of the public sector employees. read more...

Romania has just made it out of the crisis and the prices have already gone up on the market of construction supplies, considering the raw material costs rose and manufacturers want to preserve their margins at least at the same level as last year. read more...

A group of Dutch and German investors, who last year paid 4.7m euros to buy a cow farm belonging to Albalact from Raul Ciurtin, say they hold some 10m euros for expansion in Romania, with their biggest project entailing the construction of a 2,000-cow farm in Alba county. read more...

Blake Horsley, head of the investment and office department of Colliers International real estate consultancy, says Romania must come up with a nice economic story to regain its appeal in the eyes of major real estate investors, who have forgotten Romania despite the significant price adjustment. read more...

BCR, the biggest domestic bank, last year pushed up market share on the corporate segment, to over 25%, but the rapidly deteriorating turnover of the retail unit halved the entire group's annual profit, to 110m euros, and drove the group into the red in the fourth quarter even in line with IFRS. read more...

EFG Eurobank Greek financial group, the owner of Bancpost, last year posted net income worth 15.8m euros from Romanian operations, compared with an 8.3m-euro loss in 2009. read more...

Germany's Deichmann group, one of the leading footwear retailers in Europe, almost doubled its business in Romania in 2010, posting 115.98 million lei (27.4 million euro) turnover, at a time when the economy continued to decline, consumer spending dropped by 5.3% according to the National Statistics Institute, and the company opened 15 new stores. read more...

Romania’s Culture Minister Kelemen Hunor won the election for president of the Hungarian minority party UDMR Saturday, garnering 371 votes from the 555 party delegates at the party’s congress meeting. read more...

Romanian President Traian Basescu attended Saturday in Kuwait celebrations of the country’s 50-year anniversary of its independence and 20 years of freedom from Iraqi occupancy. read more...

Romania is continuing efforts to evacuate its citizens from Libya by air and it is working on evacuating 44 Romanians from Benghazi by sea, the Foreign Ministry said Saturday. read more...

The outgoing leader of Romania’s Hungarian minority party UDMR said Saturday territorial autonomy for ethnic Hungarians has remained one of his unmet objectives and should be the party’s top priority in the coming years. read more...

Silviu Bian, president of the Romanian National Employment Agency (ANOFM), said Friday that the unemployment rate in the country could drop this year to 5%. read more...

Greek group Cosmote has invested almost EUR1 billion in Romania since its launch in December 2005, growing from 0.4% to a 24% market share, while revenue reached EUR468.6 million at the end of 2010. read more...

The head of Romania's fiscal authority ANAF Sorin Blejnar has been accused by the head of Ploiesti customs office Cornel Costea, who was arrested under bribe taking charges this week, of being the "queen" in a pyramid scheme of officials sharing the money from custom office bribes. read more...

The Romanian government was analyzing a proposal from employers' unions to force supermarkets reserve 20 to 30% of their space to Romanian products, PM Emil Boc said on Friday. read more...