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RADOR: News from Romania, 97-12-29

The Press Agency of the Romanian Radio (RADOR Society) Directory - Previous Article - Next Article

From: RADOR Press Agency <http://indis.ici.ro/romania/news/rador.html>

December 29, 1997


CONTENTS

  • [01] Will Andrei Plesu become the next foreign minister?
  • [02] Great loss in the Romanian and European cinematography
  • [03] 1998 - a better year for the Romanians
  • [04] RASDAQ market ranks the third in the world
  • [05] Custom duties reduction on information technology
  • [06] Dismissal of the PETROMIN directing board
  • [07] Would bank interest taxes cause a double assessment?
  • [08] Weather in Romania

  • [01] Will Plesu Become the Next Foreign Minister?

    The foreign policy commissions of the two chambers of the Romanian parliament will hear Andrei Plesu on Monday in a joint session. Plesu has been proposed as foreign minister by the Democratic Party, which is part of the ruling coalition. He is to replace in this office Andrei Plesu, who resigned last week. Severin submitted his resignation after having been asked to assume political responsability for the declarations made more than two months ago, according to which several political leaders and newspaper directors in Romania would be working for foreign intelligence service. The investigations subsequently conducted by the specialized Romanian services demonstrated that Severin's accusations were groundless. RRI-RADOR, December 29

    [02] Great Loss in the Romanian and European Cinematography

    The Romanian and European cinematography has lost one of its great names. The Romanian film director Mircea Veroiu passed away at 56. His latest creation, Woman in Red, hit the screens in Bucharest this autumn. This year, Veroiu expressed his skepticism at the future of the Romanian film, for which funds are even more difficult to be provided because of the material difficulties and the legislation in this field. Over 1987 and 1993, Mircea Veroiu lived in France. The about 15 films directed by him as from 1971 have brought Mircea Veroiu a rapid international recognition. He was awarded prizes in Cannes, San Remo, Bergamo or Panama City for films such as Adela or the Stone Wedding. In 1991, Mircea Veroiu was on the jury of the Berlin festival. The actor and not the director is the most important - Mircea Veroiu said in an interview this year, further adding that he was never interested in violent, aggresive movies. RRI-RADOR, December 29

    [03] 1998 - A Better Year for the Romanians

    The Romanian premier Victor Ciorbea and the leaders of the government coalition have declared their belief that 1998 would be a better year and that every citizen would feel the results of the reform. The president of the Democratic Party, Petre Roman has stated that 1998 would be a decisive year in which Romania would have to demonstrate that it can carry out the reform and achieve economic recovery, without which prosperity is impossible. In his turn, the leader of the main opposition party, the Party of Social Democracy in Romania, Ion Iliescu has expressed hope that most Romanians, confronted with big difficulties, will find the strength to overcome them. RRI-RADOR, December 29

    [04] RASDAQ Market Ranks the Third in the World

    The OTC market in Bucharest, RASDAQ, has listed for transactions 5467 trading companies, thus ranking third in the world in this respect after the USA and India. 140 securities companies had access to the RASDAQ market, carrying out transactions worth 2807 billion lei (the equivalent of 350 million dollars). As from 1998, an official index of the RASDAQ market will be launched. Worth mentioning is the fact that this year several companies have been privatized by direct auctions on the RASDAQ market. The State Ownership Fund has recently managed to sell in only four hours its shares in 8 trading companies. RRI-RADOR, December 29

    [05] Custom Duties Reduction on Information Technology

    Starting on January 1st custom duties on information technology will be reduced. This reduction will be applied for computers, telephones, fax machines and peripheral components but their prices are expected to reduce only if the addition price does not change and the leu does not drop. Romania has planned to eliminate custom duties on information technology until the year 2000 and the Government has set up a scheduling of those reductions starting on January 1st, 1998. Custom duties for imports of video displays, computers, printers, faxing machines, telephones, paging devices, microphones, speakers and videophones will amount to 10% of the product's value. Pocket calculators and electronic notebooks are to be charged 18% of their value while duties for peripheral components and scientific equipments and devices are expected to range from 7 to 14%. Custom duties for consumer electronic appliances will not be reduced. In case the information technology products are used by the same company that imported them there will be no custom duties because computers are seen in this case as direct investment. Custom duties are to be paid only by natural persons bringing such products from abroad and by the companies selling them. RADOR, December 29

    [06] Dismissal of the PETROMIN Directing Board

    The Directing Board of the PETROMIN comnpany has been dismissed. According to MEDIAFAX the Sharelohders' Assembly of the company has decided to suspend the managing contract with the former directing team. The Assembly has motivated its decision by saying that the three administrative directors have not carried out their duties stated by the contract. The three former directors of the Constanta Shipping Company said that the decision was not fair because the shareholders did not know what were the duties said not to be fulfilled. According to the State Ownership Fund's report on September 30th the PETROMIN company had a 65 billion lei gross profit from selling ships only and not from commissioning them. The former manager of the company Andrei Caraiani said he would dispute the decision taken by the administrator Nicolae Bancila to terminate the job contract with him. Andrei Caraiani said that the reasons of his dismissal were false. They said he was many times absent without leave, that he used the car of the company beyond the working time and with no approval from the administrator. RADOR, December 29

    [07] Would Bank Interest Taxes Cause a Double Assessment?

    The head of the Communication Office of the Romanian National Bank Adrian Vasilescu said that once the tax on bank interest would come into force a risk of double assesment could appear. Mr. Vasilescu said that the bank interest could be seen as income only if the interest rate is bigger than the inflation rate. The interest paid by the banks does not always cover the inflation rate and then bank depostitors loose and this is the case when interest cannot be seen as income. The Government adopted a week ago a bill that imposed taxes on some incomes among which the ones from natural persons' deposit accounts. The tax rate will reach 1% of the interest rate and it will be kept by the bank itself. Total amount of the deposit accounts held by natural persons reaches 20 thousand billion lei and considering a medium 50% interest rate the state would get nearly 100 billion lei from the interest taxes. RADOR, December 29

    [08] Weather in Romania

    High temperatures for this period of the year are expected, as well as rains in the South of the country and snow in the North and in the mountains. The higher temperatures will be registered between 0 and 10 centigrades, the lowest between -4 and 6 centigrades. RADOR, December 29
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