Govnet

BNR’s new board, officially start the five-year mandate

The new board of Romania’s National Bank has been officially appointed, as the former members ended their mandates on October 10, 2014. Mugur Isarescu will lead the board whose major goals are to join the euro-area and to adhere to the European Banking Union. Isarescu, who has been the BNR’s governor for the past 24 years maintains his position for another five years. As are Florin Georgescu who was re-confirmed as first deputy governor and Bogdan Olteanu, deputy governor, following the Parliament vote this June.

General

Deloitte: the new Fiscal Code is little likely to be approved by year-end

The much-expected ‘re-writing’ of the Fiscal Code is little likely be approved by the Parliament by the end of this year, hence, any amendments to the existing one will be eventually made through an emergency ordinance in 2015, explained Dan Badin, Tax&Legal Partner-in-Charge with Deloitte Romania, during the company’s annual Legal & Tax conference. A new deferral in updating the Fiscal Code is a result of the slow decision-making process within the Parliament, as most of the related tax issues have been discussed during the consultations held with the business environment, stated Badin. He further emphasized the necessity for Romania to have the old Fiscal Code rewritten, as an emergency ordinance issued by the Government can only partially fix the current shortcomings indicated frequently by the business environment.

Competition Council sanctions 11 media companies. Fines exceed 3 mln euro

The Competition Council has imposed financial sanctions on 11 media companies, the fines amounting to about 3.2 million euro (14.5 million lei). Brand Programming Network, B.V. McCann-Erickson, Groupm Media Operations, Initiative Media, Mediaedgecia Romania, Mindshare Media, Opti Media, Starcom Mediavest Group, United Media Services, Zenith Media Communications are the companies affected, according to a press release of the competition authority.

The Government presented the General Transport Master Plan for 2014-2030

Ioan Rus, the Minister of Transport, presented the new General Transport Master Plan (GTMP) draft, which reflects the transport development strategy for 2014-2030, a prerequisite for attracting related-EU funds. The Master Plan, approved by the EU Commission, was released for public debate until October 30, 2014.

Belgium’s postal services operator submits non-biding offer for privatization of the Romanian Post

Belgian postal services operator bpost is the sole company which put forward a non-biding offer for the privatization of the Romanian Post. The offer was submitted on September 30, the last day of the allocated time frame and in case it is selected by the Ministry for Information Society, negotiations could be initiated without any obligation of coming up with a biding offer.

BNR’s new board, officially start the five-year mandate

Deloitte: the new Fiscal Code is little likely to be approved by year-end

Competition Council sanctions 11 media companies. Fines exceed 3 mln euro

ELCEN completes division process: two new entities have been established

The Government presented the General Transport Master Plan for 2014-2030

Belgium’s postal services operator submits non-biding offer for privatization of the Romanian Post

Economic sentiment decreases in Romania in line with the evolution within the EU

Romanian Infrastructure 2014 for Romanian Statutory Contract Users