4,76 RON
4,19 RON
5,55 RON
4,19 RON
2,98 RON
3,14 RON
2,43 RON
0,07 RON
0,29 RON
1,10 RON
0,62 RON
0,06 RON

Press review (Aug 4)

The Romanian newspapers on Tuesday give main coverage to the talks held by the leaders of the ruling coalition meant to smooth differences; reactions to President Traian Basescu’s proposal to lay off 20 percent of the public sector staff; a possible drop in the key rate by 0.5 percent; and a 72.6 percent surge in the registrations of Dacia cars in the French auto market.

After playing cat and mouse for yet another week, the leaders of the Social Democratic Party (PSD) and Democratic Liberal Party (PD-L), that make up the ruling coalition, decided on Monday on a timeout to catch their breath.

After meeting on Monday, the leaders of the two parties announced they would not split the coalition, although the situation is ‘hurtful’, as Social Democrat chairman Mircea Geoana put it. His remarks are carried by the Jurnalul National.

The PSD and PD-L mimicked the great reconciliation, while off the record they admit they have an unsolved problem: the commission to inquire into how Tourism Minister Elena Udrea has used the public money.

The Democrat Liberals had done their homework before the meeting and therefore they asked their ruling partners to stop attacking the tourism ministry, Tuesday’s dailies report.

After long days of a war of statements, the leaders of the PDL-PSD coalition sat at the same table to make peace. However, the gathering failed to resolve any of the differences: the Social Democrats did not give up the commission set up to investigate Democrat Liberal Udrea, which is the bone of contention in their relation with the PD-L.

Furthermore, the Social Democrats oppose plans to lay off public sector personnel, which is an idea inspired by President Traian Basescu, the Jurnalul National says in an item headlined ‘The coalition is hurtful, but irreplaceable’.

The ruling coalition gives up the planned 20 percent redundancies among the civil servants, which it buries in a committee set up to analyse the matter. The PSD calls for layoffs at the agencies and companies responsible to the PD-L.

The cut in the number of governmental agencies and the reduced number of the staff at the ministers’ cabinets is protracted due to the PSD ministers’ refusal to give up people from their own structures and the PD-L ministers’ refusal to give up their own.

Social Democrat leader Mircea Geoana reproached Democrat Liberal Prime Minister Emil Boc, who had started talks on Sunday with each separate minister to find ways to restructure the public sector, that he had taken a rash decision.

At the coalition meeting on Monday, the Social Democrats argued that restructuring cannot be made ‘without criteria’ and announced they will oppose such measure, the Cotidianul reports in an article headlined ‘The courageous restructuring by 20 percent lasted just three days’.

The foreign exchange reserves of the National Bank of Romania (BNR) were more than 27.3 billion euros at the end of July, up by 860 million euros from June, when they totalled 26.4 billion euros.

The central bank receipts amounted to 4.2 billion euros in July; the money came from the modification of the minimum forex reserves set up by the lending institutions, loans of the Public Finance Ministry, revenues from the management of the international reserves and others.

July outflows were higher than 3.3 billion euros, the Azi daily reports.

The central bank is quite likely to decide today to cut the key rate by 0.5 percent, the Evenimentul zilei says. The BNR Board of Directors could decided today to cut the key rate by at least 0.5 percent to 8.5 percent, analysts says.
‘I think the BNR will decide to cut the key rate by at least 0.5 percent, because the inflation had a very good performance in July.

We could have deflation at below 5 percent, but we should not expect 4.3 percent inflation rate, but in the neighbourhood of 4.9 percent’, the Evenimentul zilei quotes BCR chief economist Lucian Anghel as saying.

Dacia car registrations in the French auto market surged 72.6 percent in July to 6,488 vehicles and they were up 28.5 percent in the seven months to 32,302 units, in a market declining 1.3 percent, the Ziarul financiar quotes figures released by the French Automakers Committee (CCFCA) as showing.

All the open investment funds have switched to plus for the first time this year, after the rise seen in the last five months on the Stock Exchange also pulled up the share funds.

After seven months of the year, the investors in the local funds gain yields at between 3 percent (the diversified fund Bancpost Active Balanced) and 51.5 percent (the share fund Active Dinamic), the Business Standard reports.

The Romanian companies, either state-owned or private, the activity of which depends on steel maker ArcelorMittal based in Galati (southeastern Romania) accuse the Indian concern of ‘anti-competitive, anti-commercial actions and actions of undermining the Romanian economy’ after the steel maker decided to suspend the import of raw material via the Black Sea port of Constanta and the Danube-Black Sea Canal to Galati.

The Romanian Sea Ports Operator and the Romanian Waterways Operator insist ArcelorMittal Galati has no economic argument to get the raw material by the route of Burgas-Bystroye Canal instead of the Constanta-Danube-Black Sea Canal route, the Curentul reports.

According to the Constanta port authorities, the full cost of the transportation via Constanta stands at 5.77 euros a tonne, including the fees and the insurance of goods, while the cost of the transit via Burgas amounts to between 16.13 and 19.13 euros a tonne.

An exclusive investigation carried out by the Curentul has unveiled the involvement of ArcelorMittal in what might be called an operation of undermining the Romanian economy, the Curentul writes in an item headlined ‘ArcelorMittal undermines the Romanian economy’.

Romania has an institution that will be involved in changing the weather.
The Administration of the National System for Combating Hail and for Increased Rain that has been set up by the Government and made responsible to the agriculture ministry will bring rain, disperse clouds, combat hail, disperse thick fog and sleet and make tornados less violent, the Evenimentul zilei announces.

The purpose of the institution is to curb the damages inflicted by bad weather, to meet the water demand, to improve weather ahead of festivities or sport events.

While such tampering with the weather has been practised in the world for more than half a century, the meteorology specialists say they it is not as good as it looks, the daily writes.


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