March 5, 2015 UPDATE

A look at some of the main stories in Romania today

Newsroom, 05.03.2015, 12:15

The Republic of Moldova, an ex-soviet state with a predominantly Romanian-speaking population, remains a key priority on the agenda of neighbouring Romania, especially in the run up to the Eastern Partnership Summit due in Riga, in May, says George Ciamba, state secretary for European Affairs with the Foreign Ministry in Bucharest. The Romanian diplomat has underlined the need for Moldova to use the opportunity given by the installation of a new cabinet to stay on course for European accession through a quick pace of reforms and concrete results as far as the modernisation process is concerned.

A NATO fleet is in the Black Sea for joint exercises with naval forces from Bulgaria, Romania and Turkey, sources with the Alliance have announced. The multinational naval rapid reaction force consists of flagship USS Vicksburg, a guided missile cruiser and five other vessels. Romania’s Queen Marie frigate is also taking part. The training includes simulated anti-air and anti-submarine warfare exercises as well as basic naval maneuvers. Tension in the Black Sea is on the rise following the conflict in eastern Ukraine and Russia’s annexation of Crimea last year.

The former minister for development and tourism Elena Udrea remains in temporary arrest, as the Bucharest Supreme Court on Thursday rejected an appeal against her arrest a week ago as part of a corruption case. Udrea is facing several charges, including bribe taking and abuse of office. Seen by many as the most influential person in the entourage of former president Traian Basescu, Elena Udrea has been dominating the news in Romania for days.

The Romanian justice minister Robert Cazanciuc, who is also responsible for prisons, admitted that conditions of detention in Romania are not among the best. He said it would take at least 1 billion euros to modernise the existing facilities and build new prisons. According to the minister, the total number of inmates, which today stands at 30,000, has not increased in the last 3 years and it is not expected to grow either.

Representatives of the Bucharest Stock Exchange are in London to present major investment funds the business opportunities provided by the Romanian market, as part of Romania Investor Day. The event, which comes to an end on Friday, brings together 30 major funds whose total assets exceed manifold Romania’s GDP. The event is also attended by managers of important Romanian companies, particularly from the energy field. According to Lucian Anghel, the head of the Romanian Stock Exchange, investment funds have shown a keen interest in large-scale initial public offerings. They also take into account the good dividend returns for enlisted companies, strong local institutional investors, private pension funds, as well as the acquisition of the European Bank for Reconstruction and Development of shares in the Bucharest Stock Exchange.

The 2015 Geneva Motor Show started on Thursday. The French group Renault, which owns the Dacia factory in Romania, are presenting limited edition anniversary models to celebrate ten years since the launch of the brand on European markets. The anniversary models for the Sandero, Duster, Lodgy, Dokker, Logan and Logan MCV on display in Geneva are fitted with improved multimedia and navigation systems. Dacia has also presented a new version of its Duster model, with a 1.2 litre engine and 125 HP, which is Euro6 compliant. Dacia sales went up 19% last year, with France as its main foreign market. The best selling models are Sandero, Duster and Logan.

Following unseasonably warm weather at the beginning of March, Romania is bracing up for a wave of cold with rain and snowfalls in most of its regions. A code yellow warning for bad weather has been issued for central and southwestern Romania in place until Friday afternoon. The cold wave is expected to move gradually to the south and southeast where mostly rain is expected. Snowfalls and gale-force winds are expected in the mountains, while a code yellow warning for flooding has been issued for rivers in the south and southwest.