The number of positions allocated to the three-year vocational schools for the 2015-2016 academic year is up 2,4000 on an annual basis, according to data from the National Development Center for Vocational and Technical Education (CNDIPT) quoted by the Coalition for Romania's Development (CDR). CDR includes AmCham, FIC, FRBL and AHK Romania.
Prime Minister Victor Ponta stated that the Government would hold a referendum regarding Romania's accession to the Eurozone if the political situation called for one. Ponta stated that the accession target is still July 1, 2019, when Romania takes over the European Union's revolving presidency. However, the PM had not discussed the referendum project at last week's meeting with President Iohannis.
One way to understand Mr. Stolojan's latest article is realizing that the Eurozone has certain built-in features that are the result of its creation, certain political restrictions and circumstances that make the creditor nations unwilling to assist the debtor nations when the latter resort to "irresponsible economic policies".
The increase in oil imports triggered by the falling oil prices sent Oil Terminal's revenues soaring 25% in the first quarter of this year, while the operating expenses dropped 6%. The company controlled by the Ministry of Energy ended Q1 with RON 8.3 million in gross profits, up 10-fold on an annual basis.
First the first time ever, a court ruled that a loan taken out in euros must be converted to RON at the reference exchange rate posted on the day the loan was issued, according to lawyer Nicoleta Ciule, coordinator of the lawsuit won in Beius, Oradea, by a BCR client.
An improved application of the corporate insolvency rules would increase the banks' appetite for providing loans to SMEs, according to Gelu Gherghescu, a partner of EY. Gherghescu added that credit risks can be lowered through other means, such as granting banks access to the tax authorities' database in order to check the revenues of private individuals and to the Ministry of Internal Affairs' database in order to check the identity of applicants.
Greek bank Piraeus Bank received last month five non-binding bids for its Romanian subsidiary, including two from Banca Transilvania and OTP Bank. Market sources say that some of the other bids had come from US-based investment funds. The acquisition negotiations are being carried out in Athens.
The Timisoara-based Continental tires plant has invested EUR 10.5 million in a smell reduction system. The pilot testing of this system had taken a year and a half. Continental representatives presented the system at a press conference held yesterday at the plant.
A new exam in 10th grade, different high school graduation exams and pegging the professors' salaries to the students' results are some of the things that the Minister of Education, Sorin Campeanu, wants to put into the draft education bill.
The DNA's request to allow the preventive arrest of Senator Dan Sova was rejected by the Senate for the second time. The official tally was 72 votes against, 66 votes in favor and 2 canceled votes. PNL representatives announced they would bring the matter before the Constitutional Court again.
The seasonally-adjusted unemployment rate reached 6.9% in April, up 0.1 pp compared to both the previous month and the previous year, according to the National Institute for Statistics (INS). The number of unemployed was estimated at 628,000.
The state will begin selling bonds and T-bills to the population on June 8. The state bonds are worth RON 1,000 each and mature in two years. The brokering syndicate is made of Banca Comerciala Romana, BRD and Raiffeisen Bank. The issue of state bonds will be worth a total of RON 100 million.