Romania

Against the wishes of the IMF, Romania's government has approved a draft law cutting the social security tax paid by the employers by 5 per cent.

The bill, designed to boost jobs and business, needs the approval of parliament before becoming effective in October, but the centre-left ruling coalition has a majority in parliament to ensure it goes ahead.

Mircea Basescu, brother of President Traian Basescu, was remanded in custody for 24 hours by prosecutors of the National Anti-corruption Directorate (DNA) on charges of influence peddling.

He was taken into police custody. He will be referred on Friday to the Bucharest Court with the proposal for him to be handed a 30-day preventive arrest term.

POZAREVAC - Serbian President Tomislav Nikolic announced the start of the 54th cycling race through Serbia in Pozarevac on Thursday, noting that the competition under the slogan "Along the paths of freedom of our ancestors" offers an opportunity to learn more about the tradition of the Serbian army, which made a significant contribution to the Allies' victory in World War One.

The First Deputy Chairman of the PDL (Democratic Liberal Party) Catalin Predoiu on Thursday stated in a release to AGERPRES that the government is hiding the truth about the situation of the agreement with the IMF and presents a version of the truth that only takes into consideration the Prime Minister's electoral interests.

BELGRADE - Consumption expenditure per capita in Serbia totalled 43 percent of the EU average in 2013, the assessments of the European Statistical Office of the EU Eurostat show.

FM meets with Romanian, Bulgarian counterparts

VARNA -- Ivica Dačić conferred with Bulgarian and Romanian foreign minister Kristian Vigenin and Titus Corlatean in Varna, Bulgaria, on Thursday.

Bulgaria registered in 2013 levels of consumption equaling 50% of the EU's average values, Eurostat data has shown.

Actual individual consumption (AIC) was the lowest in Bulgaria, which is closely followed by Romania, while Luxembourg topped the ranking with 38% above the medium rate, data from the EU's statistical body cited by the Daily Luxemburger Wort reveals.

А Bulgarian-Romanian logistics center for entrepreneurship development will operate in the northeastern Bulgarian port city of Silistra.

The center provides business services for companies and organizations in the border region of Silistra-Calarasi.

Prime Minister Victor Ponta on Thursday at the Parliament Palace met with a delegation of the Communist Party of China (CPC) led by Central Committee's Political Bureau member Sun Zhengcai.

The talks with the Chinese delegation, held in the presence of Deputies' Chamber Speaker Valeriu Zgonea, focused on local cooperation, according to Ponta.