Tuesday, December 11, 2007

Romania - Factors to Watch on December 11

BUCHAREST, Dec 11 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Tuesday.

INFLATION DATA

The National Statistics Board will release November inflation data at 0800 GMT.

BUDGET TALKS

Parliament's budget and finance commissions resume talks on the 2008 budget bill.

MINIMUM WAGE

The government, trade unions and employers' associations agreed a 28 percent rise in the minimum monthly wage to 500 lei ($208) from 2008.

An additional rise to 540 lei will come into force from July 1, 2008 if macroeconomic targets are reached.

ROMANIA TARGETS 2.9 PCT BUDGET GAP UNTIL 2009

Romania increased its government budget deficit targets for the coming years in its revised euro convergence plan, in a bid to assure more funds for infrastructure development, the finance ministry said on Monday.

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ROMANIA'S JAN-OCT TRADE DEFICIT JUMPS 54.1 PCT Y/Y

Romania's January-October foreign trade gap jumped 54.1 percent on the year to 17.2 billion euros ($25.04 billion), driven by strong imports, data showed on Monday.

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ANTIBIOTICE SALE

Trade unionists from drug maker Antibiotice ATBE.BX plan to sue the government over its plans to sell the country's last remaining state-owned drug maker through open bidding.

Ziarul Financiar, page 3

OMNIASIG TURNOVER

Local insurer Omniasig sees its gross premium revenues rising by around 58 percent to the equivalent of 240 million euros this year.

Ziarul Financiar, page 6

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