Romania – Media Review – October 23

ZIARUL FINANCIAR

- Moldova's acting President Mihai Ghimpu has apologized "for the insult brought to Romania by the former Moldovan Communist leaders", adding that the Communist party's behaviour has insulted Romanian citizens and Romania, the daily reported quoting news agency Mediafax.

- US-French group Alcatel-Lucent will lay off 564 employees in Romania as part of its plans to cut its staff in Europe by 4,500 out of 26,000 this year and in 2010, the daily reported quoting news agency France Press.

MEDIAFAX

- Employees of Romania's state-owned power grid operator Transelectrica will go on general strike on November 2 for an indefinite period of time after the management refused to solve labour conditions and salary problems, the company's trade union said.

- The World Bank will approve a second 360 million euro loan of its 1.0 billion euro financial aid package for Romania by the end of the year, the country's Finance Ministry said.

- Romania's opposition National Liberal Party submitted a draft law on downsizing the two chambers of the country’s parliament to 316 seats from 417, party member Eugen Nicolaescu said, adding there is no need for a referendum to downsize the parliament, but a mere legislative amendment.

- Research company IMS Health has revised downwards its forecast for the Romanian drug market's growth this year to 10% from 13%-14% forecast earlier.

- Romania’s second nuclear power plant will be located near the river Somes in northwestern Romania, the agency reported quoting unnamed government sources, adding that four possible sites are being evaluated.

ADEVARUL

- Romanian president Traian Basescu has signed a decree to organise a referendum on November 22, the same day the country holds presidential elections, downsizing the parliament to a single chamber with 300 seats from two chambers with 471 seats now, the daily reported.

BUSINESS STANDARD

- Romanian state-owned gas producer Romgaz reduced costs by 10% this year due to the economic crisis, company's deputy CEO Lucian Stancu said. He added that the company announced 850 million lei investments for 2009 in the beginning of the year, down from 1.0 billion lei planned earlier.

(1 euro=4.2925 Romanian lei)