Bucharest: Romanian architect Serban Marinescu never thought he’d come up against such brazen corruption. And when a city mayor demanded a backhander, he plucked up his courage and reported him.
Category: Romania
Romanian premier nominates former judge as justice minister
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BRIEF-Toll Brothers reports qtrly earnings per share $0.42
* Bucharest stock index is highest since Jan 2008 * Improved bank prospects buoy stock indices in CEE * Czech central bank reiterates guidance on crown cap By Sandor Peto BUDAPEST, Feb 22 Romania’s Banca Transilvania stocks surged to a record high on Wednesday in continued reaction to expectations of growth, boosting the Bucharest stock index in a reflection of general optimism over Central European banks.
Cee Markets-Bucharest stocks extend rally on Banca Transilvania gains
The sector is emerging from a bad period marked with a jump in bad loans after 2008, solvency woes in Slovenia and Bulgaria, and increased costs from new taxes in Hungary and Poland and schemes to convert Swiss franc loans into national currencies. Bank profits are rising across the region.
Participants keen to conclude Basel III reforms -committee boss
Feb 22 All participants in talks on new Basel III banking reforms are keen to bring the process to a conclusion, Basel Committee Secretary General William Coen told the French Senate’s finance commission on Wednesday. Two people close to the talks told Reuters this month that banking regulators due to meet in March were not expected to agree on capital requirements rules intended to keep banks stable during a financial crisis.
Emerging Markets-Emerging stocks sail to new 19-month highs
Feb 22 Wall Street’s record run helped emerging stocks sail to new 19-month highs on Wednesday with year-to-date gains of over 10 percent, while the rand firmed ahead of a key budget speech by the finance minister. MSCI’s emerging equity index firmed half a percent , led by a 1 percent rise in Hong Kong after New York shares hit record highs and European bourses were boosted by upbeat factory data in Germany and France.
Thousands continue protests against government in Romania
Protesters display the Romanian national flag colours during a demonstration in front of the government building in Bucharest, Romania, February 12, 2017. Inquam Photos/Liviu Florin Albei via Romanians light up fireworks follwowing the announcment made by Romanian PM, Sorin Grindeanu, in Bucharest, Romania, February 4, 2017.
Romanian justice minister resigns as anti-corruption protests grow
Iordache wrote the government decree, which decriminalized abuse of power offenses involving sums below $47,500, as well as clemency and reduced prison terms for government officials convicted of corruption offenses . Although the Romanian Supreme Court has not ruled on its legitimacy, the bill, announced last week, would shield many politicians from prosecution.
Romania: government faces no-confidence vote
Romania’s president Klaus Iohannis told lawmakers Tuesday the country is in a “fully-fledged” political crisis, after hun… . A anti-government protester holds a poster depicting the leader of the ruling Social Democratic party Liviu Dragnea in Bucharest, Romania, Tuesday, Feb. 7, 2017.
Tyson Foods quarterly profit jumps 28.6 pct
Feb 6 Tyson Foods Inc, the biggest U.S. meat processor, reported a 28.6 percent rise in quarterly profit, helped by higher exports of beef and pork and lower livestock costs. Net income attributable to Tyson rose to $593 million, or $1.59 per share, in the first quarter ended Dec. 31, from $461 million, or $1.15 per share, a year earlier.
Romanian protesters get key concession, seek more changes
The largest anti-government crowds since the violent 1989 revolution that toppled dictator Nicolae Ceausescu succeeded Sunday in pressuring Romania’s new government to repeal a hastily adopted decree that would have eased penalties for official corruption. The law, opposed by the influential Romanian Orthodox Church, would have weakened the country’s emerging anti-corruption effort, which has begun to make progress against a ruling culture accustomed to acting with impunity.
Romanian govt to repeal law that goes easy on corruption
Thousands of Romanians took to the s… . A girl holds a banner that reads: “We have the right to justice!” during a protest in Bucharest, Romania, Saturday, Feb. 4, 2017.
‘We woke up in 1989’ – Romanian graft decree turns back the clock
When fire tore through a Bucharest nightclub in 2015, victims were rushed to the city’s Floreasca hospital – but its newly-built, multi-million-euro burns unit was standing idle and could help no one. Sixty-four people eventually died and the Social Democrat government was brought down within days by popular anger over the failure to enforce fire-safety regulations at the Colectiv nightclub, a failure blamed on endemic corruption and negligence.
Romania sees massive anti-corruption protests
More than 250,000 Romanians have protested against new government measures to decriminalise corruption, seen as the biggest retreat on reforms since the country joined the European Union in 2007. Romania’s top judicial watchdog, the Superior Magistrates’ Council , earlier in the day filed a constitutional court challenge to the decree unveiled by the new Social Democrat government of Prime Minister Sorin Grindeanu.
Romania’s govt decriminalizes official misconduct
Protesters march outside the Justice Ministry in Bucharest, Romania, Sunday, Jan. 29, 2017. Some 10.000 people marched through the Romanian capital and other cities to protest a government proposal to pardon thousands of prisoners which critics say could reverse the anti-corruption fight.
Thousands protest plan to pardon prisoners in Romania
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44 need hospital care after nightclub fire in Bucharest
Fire engulfed a popular nightclub in Bucharest, the Romanian capital, early Saturday, sending 44 people to the hospital, including one who was seriously injured, officials said. The fire erupted in the early hours at the upscale Bamboo nightclub, which was burned to the ground.
41 get hospital care after nightclub fire in Bucharest
In this image provided by the Romania’s General Inspectorate for Emergency Situations , a firefighter approaches the burning compound after a fire erupted in the early hours at the upmarket Bamboo nightclub, in Bucharest, Romania, Saturday, Jan 21, 2017. Fire engulfed a popular nightclub in the Romanian capital Saturday, sending more than 40 people to hospitals for treatment including one who was seriously injured.
Fire engulfs Romanian nightclub injuring at least 41
The fire comes after the disaster at another Bucharest nightclub in October 2015, which killed 64 people – the worst nightclub fire in the country’s history. Bamboo has several clubs in Romania, and one in Miami, Florida.
Global warming could steal postcard-perfect weather days
Newlywed couples took advantage of the unusual warm weather for the month … . In this image provided by Karin van der Wiel/ NOAA/ Princeton University, shows climate change effects on patterns of mild weather.
Vard Signs LOI with International Cruise Entity
Vard Holdings Limited has announced that it has signed a Letter of Intent for the design and construction of an expedition cruise vessel for an undisclosed international cruise company. Developed in close cooperation with the customer, the luxury vessel will be about 145 meters long and 20 meters wide, with accommodation for 220 passengers.
The long, strange odyssey of bringing Oscar fave ‘Toni Erdmann’ to the screen
But the upstart German filmmaker Maren Ade employed an especially unconventional technique in greeting the stars of her new picture “Toni Erdmann” for the Romanian portion of production. Ade showed up at the down-on-its-heels Bucharest airport as an over-the-top character – tricked out as a goofball mogul, pouring Champagne wearing bathroom slippers in the back of a white stretch limo.
The long, strange odyssey of bringing Oscar fave ‘Toni Erdmann’ to the screen
But the upstart German filmmaker Maren Ade employed an especially unconventional technique in greeting the stars of her new picture “Toni Erdmann” for the Romanian portion of production. Ade showed up at the down-on-its-heels Bucharest airport as an over-the-top character – tricked out as a goofball mogul, pouring Champagne wearing bathroom slippers in the back of a white stretch limo.
Renault Romania deplores death of Dacia plant former CEO Constantin Stroe
The management of Renault Romania on Saturday expressed regret at the death of Dacia plant former CEO Constantin Stroe, at age 74, following a stroke suffered in late November. “Automobile Dacia CEO Yves Caracatzanis, the Renault Group Romania managing board and the entire company personnel express their deep regret at the passing away of the man who, for 48 years, has written the history of the Romanian automobile.
Renault Romania deplores death of Dacia plant former CEO Constantin Stroe
The management of Renault Romania on Saturday expressed regret at the death of Dacia plant former CEO Constantin Stroe, at age 74, following a stroke suffered in late November. “Automobile Dacia CEO Yves Caracatzanis, the Renault Group Romania managing board and the entire company personnel express their deep regret at the passing away of the man who, for 48 years, has written the history of the Romanian automobile.