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2015 Archive:
 
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September, 2015
September 1, 2015
September 2, 2015
September 3, 2015
September 4, 2015
September 7, 2015
September 8, 2015
September 9, 2015
September 10, 2015
September 11, 2015
September 14, 2015
September 15, 2015
September 16, 2015
September 17, 2015
September 18, 2015
September 21, 2015
September 22, 2015
September 23, 2015



      September 1, 2015


FIC (1)
Three measures that would do more good than tax cuts
Macroeconomic News (2)
Senate commission endorses Fiscal Code amendments
PM Ponta: I fear the drought and other agriculture problems will hurt the economic growth
Financial News (3)
Teodorovici makes promises
BNR approves Volksbank takeover
BCR supervisory council nominates Sergiu Manea for CEO
Investment News (2)
Sheraton not content with Romana Square hotel
Cluj-Napoca City Hall invests RON 10.5 million in street modernization
Legislative News (2)
New salaries bill
Liviu Dragnea: New Fiscal Code could be signed into law by Monday
Politics (1)
Sandra Pralong appointed state councilor
Social (2)
Doctors from all over Romania to protest today
Health cards become mandatory on September 1

   FIC (1)

Three measures that would do more good than tax cuts
Some months ago, the White Book 2015 issued by the Foreign Investors Council asked the Romanian authorities to pass rules implementing tax consolidation for groups of companies. The FIC noted that there are some measures if adopted in the new Fiscal Code and implemented would do more as compared with tax cuts. Speaking about legislation on corporate tax consolidation it should be passed to allow the compensation of profits and losses within a group of companies. However: "Tax consolidation was not accepted by the Ministry of Finance. [...] The stated reason was that Romania cannot afford it," said tax consultant Dan Schwarz.

   Macroeconomic News (2)

Senate commission endorses Fiscal Code amendments
The Senate's Budget Commission issued yesterday a report unanimously endorsing the Fiscal Code amendments negotiated by the party leaders last week, including the two-stage VAT rate reduction. Viorel Arcas, chairman of the commission, stated that the purpose of these amendments is simply to spread the measures over a longer period of time.

(Source: zf.ro; Date: 2015-09-01; Author: Unspecified)

PM Ponta: I fear the drought and other agriculture problems will hurt the economic growth
Prime Minister Victor Ponta stated on Monday, quoting ANAF data, that the VAT rate cut for food products had increased the state's revenues in July and August. However, the PM is concerned that the drought at the problems plaguing the agriculture sector will hurt Romania's economic growth this year.

(Source: economica.net; Date: 2015-09-01; Author: Unspecified)

   Financial News (3)

Teodorovici makes promises
Although the authorities had initially announced that the program for converting all CHF-denominated loans to the national currency at a discount would come into force by the end of August, this is not the case. Moreover, representatives of the Ministry of Finance have proposed a 15% discount on principals, instead of the 25% promised to the debtors.

(Source: bursa.ro; Date: 2015-09-01; Author: Unspecified)

BNR approves Volksbank takeover
The takeover of Volksbank Romania by Banca Transilvania was approved by the National Bank of Romania (BNR) and the effective takeover date was set to December 31, 2015, according to a notification sent yesterday to the Bucharest Stock Exchange (BVB). The merger project will be posted on BT's website tomorrow.

(Source: economica.net; Date: 2015-09-01; Author: Unspecified)

BCR supervisory council nominates Sergiu Manea for CEO
The BCR Supervisory Council has nominated Sergiu Manea, the Vice-President in charge of Corporate Banking and Capital Markets, as Tomas Spurny's successor to the position of CEO. The nomination has to be approved by the National Bank of Romania (BNR). Spurny decided to leave the bank at the end of this month in order to pursue other professional opportunities, especially since he is known as a restructuring manager and the bank's restructuring process is almost over.

(Source: cursdeguvernare.ro; Date: 2015-09-01; Author: Unspecified)

   Investment News (2)

Sheraton not content with Romana Square hotel
Starwood Hotels&Resorts made its entrance on the Romanian market with the reopening last week of the first Sheraton hotel in the country. The hotel is a former Howard Johnson refurbished by Starwood at a cost of EUR 6 million.

(Source: zf.ro; Date: 2015-09-01; Author: Unspecified)

Cluj-Napoca City Hall invests RON 10.5 million in street modernization
The Cluj-Napoca City Hall has launched a RON 10.5 million investment project for modernizing Faget Street. 3,000 meters of pavement and sidewalks will be rehabilitated, including the consolidation work and the support walls needed at certain spots.

(Source: zf.ro; Date: 2015-09-01; Author: Unspecified)

   Legislative News (2)

New salaries bill
The Minister of Labor, Rovana Plumb, stated on Monday that Ministry officials and labor representatives will meet this week and the next in order to negotiate the future salaries bill. "Some opinions were provided in writing and we will go over them at the Ministry," said Plumb.

(Source: cursdeguvernare.ro; Date: 2015-09-01; Author: Unspecified)

Liviu Dragnea: New Fiscal Code could be signed into law by Monday
The Senate is scheduled to vote on the Fiscal Code today before sending the bill on to the Chamber for a Thursday vote. The bill could be on the President's desk by Sunday, according to Liviu Dragnea, the interim leader of the Social Democratic Party (PSD).

(Source: cursdeguvernare.ro; Date: 2015-09-01; Author: Unspecified)

   Politics (1)

Sandra Pralong appointed state councilor
President Klaus Iohannis has appointed Sandra Pralong as a new state councilor at the Department for the Relationship with Romanians Living Abroad (DRRAG). Pralong had run for a Senate seat in 2012 representing the National Peasants and Christian Democrats Party (PNTCD), but lost the election.

(Source: bursa.ro; Date: 2015-09-01; Author: Unspecified)

   Social (2)

Doctors from all over Romania to protest today
The doctors will gather today for a protest in front of the Government's headquarters in order to demand higher salaries and better work conditions. The negotiations held yesterday with the Minister of Health, Nicolae Banicioiu, and other health system officials failed to prevent the protest from taking place.

(Source: adevarul.ro; Date: 2015-09-01; Author: Unspecified)

Health cards become mandatory on September 1
All health services will be provided solely on the basis of health cards, beginning with September 1. Those who did not receive their cards must request them from the health insurance officials. On Monday, the authorities announced that 300,000 cards were still undistributed.

(Source: cursdeguvernare.ro; Date: 2015-09-01; Author: Unspecified)

   
   
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