‘The liquidity is higher, the exchange rate is far more stable and interest rates have dropped by half in one year,’ Mugur Isarescu explained.
Romania’s economy is heading in the right direction, BNR Governor Mugur Isarescu said during debates occasioned by a conference that focused on Romanian economy’s evolution in 2010, a conference hosted by the National Bank yesterday. His argument: liquidity is higher, the exchange rate is far more stable and interest rates have dropped by half in one year.
“We shouldn’t worry, we are heading in the right direction. The effects of a serious program like the one with the IMF are visible. Interest rates are dropping; they dropped by half in one year and continue to drop. The exchange rate has registered positive developments in the last two months. From an outlook of RON 4.6/EUR in December we are now worried it might appreciate too much,” Isarescu said. He pointed out that he maintains his optimism in what concerns the economic growth and inflation rate but that he will not reveal other clues because he does not want to be part of “this kind...
Beyond these new risks, the political message sent by both PM Boc and Minister Blaga is that Schengen space accession should be top priority for the ministry.
The Ministry of Administration and Interior (MAI) yesterday presented its activity report for last year, during an event attended by high officials from politics, justice and secret services. The list of guests started with Premier Emil Boc and continued with Justice Minister Catalin Predoiu, the head of the National Anticorruption Directorate, Daniel Morar, Prosecutor General Laura Codruta Kovesi, the heads of the Romanian Intelligence Service (SRI) George Cristian Maior, and of the Foreign Intelligence Service (SIE) Mihai Razvan Ungureanu.
According to...
Antonescu is one step ahead of Orban after the party accepted his list-based candidacy. Viorel Catarama – third candidate for party leadership.
The Extraordinary Congress during which the Liberals are due to vote for their new president will take place from March 5 to March 7. On Wednesday, PNL leader Crin Antonescu registered a victory against First Vice President Ludovic Orban after the party’s Central Political Bureau (BPC) decided that PNL delegates taking part in the Congress will vote for lists and not individual candidacies like they used to do before.
According to Liberal sources quoted by Mediafax, the decision was made with an overwhelming majority: 23 votes in favour, one...
Head of state meets Romanian troops, tells them their mission is to defend civilised world from terrorism, promises a new law regarding volunteer troops.
President Traian Basescu yesterday made an unannounced visit to Afghanistan, where he met Romanian troops stationed in Qalat. After a two-day state visit to Kazakhstan on Tuesday and Wednesday, the president flew to Afghanistan accompanied by Defence Minister Gabriel Oprea and Army Chief of Staff Admiral Gheorghe Marin. His visit was not announced previously for security reasons.
The president was greeted in Kandahar by NATO troop commander General Stanley McChrystal and British General Nick Carter, with whom he had talks for about 20 minutes, Mediafax...
Democrat Liberals yesterday filed a request to have Social-Democrat Mircea Geoana dismissed as Senate Speaker. The request was signed by 57 Senators, including seven independents and two members of the Democratic Union of Hungarians in Romania, the head of PDL’s group in the Senate, Constantin Igas, said. The move came as on Wednesday, Igas said PDL would start procedures to suspend Geoana from his duties because the Senate Speaker refused to hold a vote on independent lawmaker’s request to be allowed to keep committee seats. Igas added that Democrat...
The election is Iraq’s second for a full four-year parliament since the 2003 U.S.-led invasion.
BAGHDAD - Twelve people were killed in Baghdad on Thursday, including seven soldiers and police blown up by suicide bombers, days before a poll that will test Iraq’s prospects for stability as U.S. troops prepare to leave. Thirty-five soldiers and police were also wounded when two attackers with explosive belts struck at centres where security forces were voting early, an Interior Ministry source said.
A powerful explosion earlier killed five civilians and wounded 22 in Baghdad’s northwestern district of Hurriya. The assailants seemed bent on...
WASHINGTON - Israel’s defence minister said on Wednesday the Jewish state would be willing to hand over parts of Jerusalem in peace talks with the Palestinians to be launched by U.S. President Barack Obama. A flare-up of violence in the Palestinian West Bank and a deadlock over Jewish settlements there loom as potential deal-breakers for Obama, who will host Israeli and Palestinian leaders for dinner at the White House in Washington.
Obama brought Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas together for face-to-face...
MOSCOW - Russian police detained more than 100 people including prominent opponents of Prime Minister Vladimir Putin at anti-Kremlin protests on Tuesday, after Putin said demonstrators without permits could expect harsh treatment. In Moscow, police detained opposition politician Boris Nemtsov and dozens of other protesters who defied authorities by gathering on a central square declared off-limits last week, shouting “Shame!” and “Russia without Putin!”
Police dragged protesters through the crowd on Triumph Square and shoved them into buses, carrying...
CEC Bank registered RON 30 M (EUR 12 M) profit before tax, 10 per cent higher than the 2008 result that did not include the Asiban sale. Last year CEC’s earnings from interests were RON 713.7 M, 42 per cent bigger than in 2008, and earnings from commissions almost doubled to RON 160.7 M, bank president Radu Ghetea said On the other hand, Ghetea said CEC Bank’s objective in 2010 would be to consolidate its position as one of the top five banks on the local market in terms of assets. Reaching the target will depend on the bank’s capitalisation...
The home consumption of fast-moving consumer goods in H1 dropped by 4 per cent in national currency from a year earlier, being the first decrease recorded in the last ten years, with personal care products and home cleaning goods being the most affected, a GfK press release issued yesterday states. Among the categories with the steepest volume falls the ones that stand out are deodorants (-21 per cent), universal cleaning products (-19 per cent), chocolate tablets (-18 per cent), the decrease being primarily due to the fact that they were purchased by fewer...
Financial analysts claim that renewing the agreement with international financiers is a must. Most consider this is the advisable strategy, ‘Adevarul’ reports. The idea of a new agreement for a loan is already being accredited in the public sphere. Some economists argue this is not the best approach. “The present agreement is still in progress, yet, at Cabinet level, the idea of a new agreement is already explored. Or, the focus should be on restructuring expenses, otherwise, the effect on investors may be the exact opposite,” investment consultant Doru...
Angela Merkel and Guido Westerwelle. It seemed the perfect political marriage. On one hand, the Lady Chancellor, aged 55 - modern, pragmatic, austere and authoritarian, already labeled by local media as “the Berlin Queen.” On the other, the partner aged 49 - Liberal, brilliant, winner of September 2009 elections, appointed as vice-chancellor and foreign minister. It should have been the move destined to drive Germany forward, as leader of Europe, after four years when the country was led by the “Grosse Coalition,” especially in the wake of the economic crisis. Yet, just a few months into the cohabitation, Germans seem to have lost all enthusiasm for the new coalition. Westerwelle’s party dropped in the polls from 14.6 to just 8 pc, while 65 pc of subjects say they are “discontent” with the activity of a government supported only by 42 pc of the population, while the left-wing coalition would reap the majority if elections were held today....
NEW YORK - Rafa Nadal made a smooth start to his bid to capture the one grand slam that has eluded him when he wore down Russia’s Teymuraz Gabashvili 7-6 7-6 6-3 in the first round of the U.S. Open on Tuesday.
Dressed menacingly in an all black outfit, Nadal had to dig deep to see off the stubborn Gabashvili after three hours of intense shotmaking from both men at Arthur Ashe...
All but two of FC Vaslui’s players boycotted the team’s morning training session on Wednesday, under the pretext that club owner Adrian Porumboiu gave them several days of holiday. Porumboiu is displeased with head coach Juan Ramon Lopez Caro’s performance, the team being 14th in the standings with only 5 points in 6 games, but hesitates sacking him. FC Vaslui finished last season on a...
ANKARA – Leandro Barbosa’s potential game-tying lay-up caught the rim but didn’t go down as the USA survived to beat Brazil 70-68 in a memorable game at Abdi Ipekci Arena on Monday, fiba.com informs.
Marcelo Huertas was fouled in the final seconds, but his first free-throw was short. He missed the second one intentionally and chased the ball down before passing to Barbosa under the...
Tim Burton’s movie “Alice in Wonderland” opens nationwide. An experience best seen in 3D, and don’t forget your kids at home.
There is no doubt both the director and a bunch of other weird individuals, the writer of these lines included, strongly believed Lewis Carroll’s 19th century story, “Alice’s Adventures In Wonderland,” screamed out for a 3-D film because of its surreal elements. The most recent 3-D film, sci-fi adventure “Avatar,” has shattered box office records on its way to...
The National Theatre Festival (FNT) will present, in its 20th edition, the latest play directed by Silviu Purcarete – Le Roi se meurt (Exit the King), by Eugene Ionesco, an international production. The show premieres on September 15, within the Ex Ponto Festival in Slovenia, and will be presented, then, within the FNT, before touring to France, Italy, Montenegro, Macedonia and Croatia. This new...
The legendary Jazz musician is for the first time in Romania.
The Palace Hall will sound of the best in jazz sounds this fall, as on October 29 as of 8 pm, a unique and first-time concert featuring Herbie Hancock will delight quality music fans.
Herbie Hancock is a true icon of modern music. Throughout his explorations, he has transcended limitations and genres while still maintaining his unique, unmistakable voice. The musician’s success at...
Meteorologists have extended a yellow code weather alert for snowfall, blizzard and cold weather in 21 counties, warning that they expect a significant layer of snow in the country’s hilly and mountainous regions. From 2 AM today until Saturday evening, the weather will cool down and precipitations will be registered in all regions. “Snowfalls will be reported in the mountainside, in...
Turkish ship sinks near Constanta
A Turkish flag ship loaded with scrap iron sank near the Port of Constanta yesterday, Mediafax reports. Wednesday morning at about 4:30, the ship started to lurch. Two other vessels were sent to the area to rescue the ship, but failed. The 17 sailors onboard were rescued. No one knows for sure what caused the distress, but two options are being...
Secretary of State Bogdan Aurescu says Romania will not tolerate discrimination against its own citizens, EC calls for Roma integration in both native country and where they choose to settle.
During talks with European Commissioners Viviane Reding (Justice and Fundamental Rights) and Cecilia Malmstrom (Internal Affairs) in Brussels on Tuesday, French ministers defended their controversial crackdown on the Roma minority, insisting that repatriations fully comply with European law.
France has been facing mounting criticism for its decision to demolish illegal nomad camps and...
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