PCC Group Mulls Buying Oltchim Again
German-Polish group PCC, minority shareholder of Romanian chemical plant Oltchim Ramnicu Valcea (OLT.RO) is interested in buying the chemical plant and will file bids for all the assets of the plant after authorities start the sale process.
The other company interested in buying Oltchim is chemical company Chimcomplex Borzesti (CHOB.RO), controlled by businessman Stefan Vuza.
PCC is the main minority shareholder of Oltchim, with a 32.34% stake.
Oltchim, 54.8% owned by the Economy Ministry, halted operations in August 2012 in preparation for a privatization attempt, which failed after the auction winner refused to pay the price agreed with the authorities. Both PCC and Chimcomplex filed bids for buying the chemical plant back in 2012. (Adevarul)
Oil Refinery RAFO Onesti Goes Insolvent
The court has admitted the insolvency request filed by oil refinery RAFO Onesti, while Transilvania Insolvency House was appointed as temporary judicial administrator.
According to the latest data, RAFO Onesti ended 2015 with RON312 million debts, while its debts in the last six years exceeded RON287 million. In 2011, RAFO Onesti exited another insolvency procedure started back in 2004.
Early 2016, Romanian tax authority ANAF levied a distraint on RAFO Onesti assets for unpaid debts to the state budget. (Puterea)
Chamber Of Deputies Adopts Law On Public Pay Rises
The Chamber of Deputies on Monday adopted the law on passing government emergency ordinance stipulating several salary increases for public sector employees.
The law was voted with 184 pros and one abstention. PNL did not participate in the meeting.
Labor Minister Dragos Pislaru said Monday that the government plans to challenge the law at the Constitutional Court, which would decide “whether it is constitutional to adopt such laws without indicating the financing sources”. Pislaru previously said lawmakers should stop “selling illusions”, adding that the law includes several equity issues. (Puterea)
Over 42% Of 15 Year-Old Romanian Children Face Functional Literacy Issues
Over 42% of the children aged 15 in Romania are facing functional literacy problems, according to the data presented in a conference on the issue, organized by the Presidential Administration, Education and Research Department in collaboration with UBB College of Political, Administrative and Communication Sciences.
According to the data presented at the conference, in 2012, EU High Level Group of Experts on Literacy published the first report on the functional illiteracy in Europe. The report and other EU data show that the Romanian education system faces serious issues in terms of functional literacy, as Romania ranks 49th in 65 countries at the PISA 2009 reading tests (Program for International Student Assessment), and 47th in mathematics and science tests. (Puterea)
Study: Measles Complications May Be More Serious Than Originally Thought
While Romania is facing a measles epidemic due to the low vaccination rate in children, American scientists warn on the dangers of measles complications.
According to CNN, measles is highly infectious, and a new research shows that complications from the infection may be even more deadly than originally thought, based on the study of the records of people who had subacute sclerosis panencephalitis (SSPE), a neurological complication from measles, in California between 1998 and 2016. SSPE is a neurological complication in which the body has an abnormal immune response to the virus.
At the end of last month, there were over 900 cases of measles in Romania and 6 people died. (Adevarul)