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RADOR: News from Romania, 97-10-14
October 14, 1997
CONTENTS
[01] New Investments in Romania and Other Former Communist Countries
[02] Strike Suspended
[03] Romanian Pupils Satisfied
[04] Former Sovereign King Michael I in Romania Again
[05] Weather in Romania
[06] Currency Rates
[01] New investments in Romania and other former communist countries
ING BARINGS, one of the largest insurance and banking groups in the world,
and INVESCO ASSET MANAGEMENT, Ltd., the main fund administrator in United
Kingdom, have announced the launching of a new investment fund destined for
countries in former Soviet Union, Romania and former Yugoslav republics.
The fund intending to apply for quotation on the Irish Stock Exchange will
try to attract international investors from Europe, the US and the Middle
East. RRI-RADOR, October 14
[02] Strike suspended
The leader of the national federation of minig trade unions in Romania
Marin Condescu has announced the suspension of the general one-day strike
scheduled for Tuesday. The Government has accepted the miners' claims. By
the end of the year, the Government will grant 300 billion lei (38 million
USD) for the restructuring and technological upgrading of mining industry.
The miners' wages - an annual average of 1.6 million lei (207 USD) - will
be doubled. The doubling of wages has become possible following the massive
dismissals in Romanian mining. Over the past two months, about 700,000
miners have renounced their jobs, attracted by the generous payments
decided by the Government. In another development, the Government has set
up the National Agency for Development and Restructuring of Mining Areas
but "to stave off more miners' claimes, in the coming 20 days the
Government will have to issue new regulations to complete the legislation
on mining restructuring", trade union leader Marin Condescu said. RRI-
RADOR, October 14
[03] Romanian pupils satisfied
School leaving exams in the school year 1997 - 1998 will take place in
Romania as until now, that is in four basic sunOects and one at the pupils'
choice - this is the conclusion emerging from the talks the Government
officials had with representatives of high school pupils. After the meeting,
Romanian Prime Minister Victor Ciorbea said that the draft for modification
of the education law stipulating the final exams in seven subjects and one
at choice was in contradiction of the present law. Last week, thousands of
high school pupils protested in most of the country against the new
regulations. RRI-RADOR, October 14
[04] Former sovereign King Michael I in Romania Again
On Sunday in Alba Iulia, former Romanian sovereign King Michael I and his
wife Queen Anna of Bourbon-Parma attended celebrations occasioned by the
75th annniversay of the Coronation of his grandfather Ferdinand as King of
Greater Romania. Ferdinand of Hochenzollern succeeded his uncle King
Charles I to the throne of Romania. Ferdinand I, known in history as
Ferdinand the Unifier, had his name linked to the 1923 Constitution, the
land rOform and the election reform. Former Romanian sovereign King Michael
I was forced by the communists to abdicate and leave the country in 1947.
In February this year, his Romanian citizenship, lifted by communists, was
restored.
King Michael I and his wife Queen Anna of Bourbon-Parma arrived on Monday
in the city of Iassy on an unofficial visit following the invitation of the
city mayor. RRI-RADOR, October 14
[05] Weather in Romania
Weather in Romania will be colder and cloudy in most of the coutry. Showers
are forecast in many regions. Temperatures will range from 6 centigrades in
the morning to 16 centigrades at noon. RADOR, October 14
[06] Currency rates
1 USD = 7,699 lei; 1 DEM = 4,379 lei; 1 CHF = 5,245 lei; 1 FRF = 1,305 lei;
1 GBP = 12,497 lei; 1 XEU = 8,590 lei. RADOR, October 14
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