Tag Archives: Romania

Report: DOJ, SEC Investigating Microsoft on Bribery Claims

By Matt Hickey, Contributor According to the Wall Street Journal, the Department of Justice and the Securities and Exchange Commission are looking into an alleged kickback scheme between Microsoft and China, as well as irregularities in its relationships between itself and resellers in Italy and Romania. …read more
Source: FULL ARTICLE at Forbes Latest

Microsoft taking bribery allegations 'seriously'

Microsoft is taking seriously allegations that business partners engaged in bribery to gain government contracts in three countries outside the U.S., the company said Tuesday.

The Wall Street Journal reported Tuesday that the U.S. Department of Justice and the U.S. Securities and Exchange Commission are investigating Microsoft for possible kickbacks made by a Microsoft representative in China, as well as looking into the company’s relationship with some resellers and consultants in Italy and Romania.

Microsoft takes “all allegations brought to our attention seriously” and will cooperate fully with any government investigations, John Frank, the company’s vice president and deputy general counsel, said in a blog post.

“Like other large companies with operations around the world, we sometimes receive allegations about potential misconduct by employees or business partners, and we investigate them fully regardless of the source,” Frank added. “We also invest heavily in proactive training, monitoring and audits to ensure our business operations around the world meet the highest legal and ethical standards.”

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Source: FULL ARTICLE at PCWorld

Romania: Anti-missile interceptors to be deployed

Romania‘s defense minister said Tuesday U.S. plans to deploy anti-missile interceptors in his country are going ahead and that Romania has an “exceptional” partnership with the United States.

U.S. Defense Secretary Chuck Hagel last week announced that plans to place long-range missile interceptors in the final stage of its European system are being abandoned. U.S. officials have stressed they will deploy shorter-range missiles to Poland and Romania.

Mircea Dusa told the Associated Press on Tuesday that “I have very serious assurances from the American side that the investment in Romania will continue,” and interceptors will be deployed in 2015.

“Our military cooperation (with the U.S.) since we joined NATO is an exceptional one.”

He said the changes in the defense system plans were caused by spending cuts, not political considerations.

“There is a worldwide problem with the economic crisis and in 2013 very many states are spending less on their defense budgets,” he told the AP.

He says Romanian officials were informed three weeks ago followed by confirmation “two to three hours” before the U.S. announcement.

He refused to be drawn on Russia‘s opposition to the anti-missile interceptors beyond saying that Romania had “normal” relations with Moscow.

Russia has complained about the U.S. plan, with the Kremlin saying it believes it is aimed against Russia‘s missile program. Washington adamantly denies that and says the system is meant to stop missiles from Iran and North Korea.

Romania‘s relations have cooled with Russia since Romania joined NATO in 2004 and also over the former Soviet republic of Moldova, which used to be part of Romania. Some three-quarters of Moldova‘s 4.1 million citizens are of Romanian descent and tens of thousands have Romanian citizenship, but Russia continues to wield economic and political influence.

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Source: FULL ARTICLE at Fox US News

Arena Faces Europe's Obesity Opportunity

By Dan Carroll, The Motley Fool

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You can’t find a hotter topic in health care than obesity. From its impact on public health and quality of life to its long-term costs to advanced economies, rising obesity rates across the world are one of the most polarizing trends for the future. It’s no surprise then that Arena Pharmaceuticals and VIVUS  — rivals squaring off with their FDA-approved obesity drugs Belviq and Qsymia, respectively — capture the hearts and opinions of investors everywhere.

While the FDA has been happy to welcome Belviq and Qsymia to the market, Europe hasn’t been so kind. The European Medicines Agency’s Committee for Medicinal Products for Human Use, or CHMP, rejected VIVUS’ appeal for approval last month and has also raised questions this year about Belviq’s approval. While Arena’s European fate hasn’t been decided yet, what are these companies missing out on if Europe rejects both obesity drugs? Let’s go inside the obesity crisis across the Atlantic to see just how damaging a rejection could be.

Lower obesity rates, but no less a crisis
It’s easy to point to the U.S. as the capital of the obesity revolution, but Europe’s not at all skinny by comparison. The U.K.’s Academy of Medical Royal Colleges has raised concerns that Britain’s obesity crisis could soon become “unresolvable,” and rates are on the rise across the continent.

According to the World Health Organization, between 2% an 8% of all health care costs can be attributed to obesity in Europe, depending on country and region. That’s considerably less than the U.S., where 17% of all health care costs come back to obesity; then again, European obesity rates are considerably less than in America.

15% of French citizens were obese as of 2012, according to a study sponsored by ObEpi-Roche — while Romania reported obesity rates of just 8% in women and 7.6% in men. The U.K. reported the top obesity rate among European women at 24%, while Malta reported the highest male rate at 22%. Both are still considerably less than the U.S.’s astronomical 35.7% adult obesity rate in 2012, as measured by the CDC.

That’s not to say that obesity drug companies like Arena don’t have an opportunity in Europe. Obesity rates have been rising fast — France’s 2012 statistic included a 35% increase in obesity in 18 to 24 year-olds in just the prior three years. By comparison, only 11.2% of French citizens were obese in 2008; total obesity rates for the nation climbed almost 34% between 2008 and 2012. Europe’s problem is growing fast, but America’s obesity crisis still tops the charts among advanced economies.

However, with health care budgets under attack in Europe due to the continent’s ongoing fiscal crisis, Europe’s ability to pay for obesity drugs is under fire.

Budgets under fire
France’s 2012 obesity study showed that poorer people had a higher likelihood of being obese than their wealthier counterparts. While Arena’s Belviq isn’t a very expensive drug by pharmaceutical standards — the company set …read more
Source: FULL ARTICLE at DailyFinance

Former Romanian PM is freed from prison

A former Romanian prime minister who shot himself in the neck when police came to bring him to prison was freed Monday after serving one-third of his corruption sentence.

Adrian Nastase, the most senior politician to be jailed in Romania since 1989, when communism collapsed, went free after judges voted to allow his immediate release from Jilava prison, where he was serving a two-year sentence.

His attorney had requested his release due to the fact he is over 60, had written books and had taught fellow prisoners in jail.

Nastase said he looked forward to “breathing freedom” and maintained his innocence. He left the prison, 20 kilometers (11 miles) south of the capital, in a limousine accompanied by his elder son Andrei.

“I am very happy for him and his family and I am waiting to see him,” said Prime Minister Victor Ponta, adding that his former mentor would be welcomed back into the Social Democracy Party that he led until 2005.

Nastase, 62, was sentenced in June for illegally raising money for a failed presidential campaign in 2004. He shot himself after learning he would be incarcerated. He served as prime minister from 2000 to 2004.

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Source: FULL ARTICLE at Fox World News

Russia unmoved by US missile defense plan change

A top Russian diplomat says the United States‘ cancellation of a critical part of its European missile defense system plan doesn’t mollify Moscow‘s opposition.

U.S. Defense Secretary Chuck Hagel last week announced that plans to place missile interceptors in Poland and possibly Romania are being abandoned and that interceptors would be placed in Alaska instead.

The interceptors were to be the final phase of a program that Russia contends aims to counter its own missiles. Washington says the system is meant to stop missiles from Iran and North Korea.

Russian Deputy Foreign Minister Sergei Ryabkov was quoted by the Kommersant newspaper Monday as saying that “We feel no euphoria in connection with what was announced by the U.S. defense secretary and we see no grounds for correcting our position.”

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Source: FULL ARTICLE at Fox US News

Missile plan changes may provide opening for talks

In adding 14 interceptors to a missile defense system based in Alaska, the U.S. is abandoning a key part of a European missile defense plan that’s been strongly opposed by Russia.

At the same time, the decision provides a potential opening for new arms control talks.

The Obama administration is citing development problems and a lack of money in canceling the interceptors that were to be deployed in Poland and possibly Romania early next decade.

Defense Secretary Chuck Hagel says the cancellation is part of an overall restructuring of missile defense plans aimed at stopping missiles from North Korea and Iran.

The U.S. will spend $1 billion to increase the number of interceptors in Alaska aimed at countering the threat from North Korea.

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Source: FULL ARTICLE at Fox US News

Ethnic Hungarians in Romania mark national day

Thousands of ethnic Hungarians paraded in Romania on Friday to celebrate the Hungarian national holiday, and some expressed concern that their minority may not be allowed to retain the special privileges it enjoys.

Ethnic Hungarians, some in folk costumes, rode horses and carts and waved Hungarian flags, singing patriotic songs and shivering during traditional dances in rural mountain areas in Transylvania. They were whipped by winds with temperatures plunging to an icy -4 Celsius (25 Fahrenheit) as they celebrated the anniversary of the 1848 revolution against the Habsburg empire.

Romanian Hungarians, who make up about 6 percent of the population, enjoy special privileges such as the right to use their mother tongue in schools and in courts. But since an ethnic Hungarian party left the Romanian government last year after being a coalition partner for 15 years, some ethnic Hungarians fear their privileges could be lost.

“We call on them … to not take away our language, not to restrict the use of our language,” said Kelemen Hunor, leader of the ethnic Hungarian party. “We want Hungarian to be officially recognized in Transylvania,” the Hungarian-speaking region in central Romania.

Most of Romania‘s ethnic Hungarians live in eastern Transylvania, a rural area with vast potato crops and mineral water springs. The region was part of the Austro-Hungarian Empire until 1918, when Hungary lost a huge swatch of its territory to Romania, Slovakia and other states. The minority faced heavy restrictions under Romania‘s former communist leader Nicolae Ceausescu. For the past two decades, the region’s ethnic Hungarians have been campaigning for greater rights.

Hunor urged Romania‘s government to allow Hungarians to fly their flags, vowing to defend “our national symbols … because we will defend everything that a free person and a free nation deserves.” In February, tensions briefly rose after local officials hoisted a Hungarian flag on a municipal building. By law, only Romanian and European Union flags can be flown on government buildings.

Romanian Prime Minister Victor Ponta has since tried to calm concern about ethnic Hungarians not being allowed to use their symbols, saying he doesn’t object to them being hoisted from municipal buildings.

However, President Traian Basescu told The Associated Press last week that Romanian authorities are opposed to territorial autonomy for Szeklers, an ethnic Hungarian group in Transylvania.

Former Foreign Minister Adrian Cioroianu, a historian, told the AP on Thursday that the …read more
Source: FULL ARTICLE at Fox World News

AP Interview: Romanian president blasts corruption

Romania‘s president says the country should do more to tackle corruption if it wants to join the European Union‘s open-border area.

President Traian Basescu told The Associated Press on Thursday that tackling the issue “is a test for the Romanian political class.

“Is it willing to sacrifice two or three corrupt officials for obstructing the national interest or not?”

Basescu says joining the so-called Schengen zone, which includes some 26 countries, should become a national priority for the country of 19 million, which joined the EU in 2007.

The Netherlands has led opposition to Romania and Bulgaria joining the borderless free-travel zone, arguing that it would lead to an increase in organized crime and corruption.

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Source: FULL ARTICLE at Fox World News

The Value of All Oil at Exxon Mobil: Over $2.2 Trillion!

By 24/7 Wall St.

Oil price rise graphic

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Exxon Mobil Corp. (NYSE: XOM) was just featured as one of our seven DJIA stocks that would lead the DJIA to 15,000 and the company is delivering its production and capital spending estimates to analysts today. The oil and gas giant projects that its new major project start-ups will deliver 1 million oil-equivalent barrels over the next five years. What the company did not show you is that its proved reserves has a current snapshot market value of more than $2.2 trillion.

CEO Rex Tillerson tells analysts that the company’s crude oil production and other liquids should increase by 4% per year between 2013 and 2017, based on the new production analysis of 28 major oil and gas projects. Tillerson also said that 24 of those projects are liquids or liquids-linked projects. Twenty-two major projects will start production over the next three years, including an expansion of the Kearl Oil Sands Project in Alberta, Canada, and a liquefied natural gas export project in Papua New Guinea.

In a presentation to investment analysts, Tillerson said the company has a “growing global portfolio of high-quality resource opportunities with exploration success most recently in Romania and Tanzania.” Tillerson also said that the company is planning to more than double its exploration acreage in a range of proven and emerging locations that includes Russia by name to feed its inventory in the coming years. Its capital spending plan is to invest roughly $190 billion over the next five years.

Exxon Mobil said that it replaced 115% of 2012 production and has replaced 174% of its crude oil and other liquids, making it the 19th consecutive year the company replaced more than 100% of its production, with proved reserve additions of 1.8 billion oil-equivalent barrels.

Here is the figure that you need to know about the largest oil company: its proved reserves are at 25.2 billion oil equivalent barrels. Imagine what this translates to in real dollars at $90.00 a barrel oil. That is $2.268 trillion worth of oil in its proved reserves.

Exxon Mobil‘s market cap is $403 billion. If Exxon Mobil was merely treated as a closed-end fund, investors would say that the company trades at only about 18% of its net asset value. Things are far more complicated than that, but it is an interesting way for investors to look at this. If you just consider what Exxon Mobil is expected to make in profits this year, Exxon trades at about 11 times earnings. That is the real way to look at the company.

We are sticking with our prediction that both Exxon Mobil and Chevron Corp. (NYSE: CVX) will hike their dividends in the coming weeks.

Filed under: 24/7 Wall St. Wire, Annual Report, Oil & Gas Tagged: CVX, XOM

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Source: FULL ARTICLE at DailyFinance

Dr. Reddy's Announces the Launch of Zoledronic Acid Injection

By Business Wirevia The Motley Fool

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Dr. Reddy’s Announces the Launch of Zoledronic Acid Injection

HYDERABAD, India–(BUSINESS WIRE)– Dr. Reddy’s Laboratories (NYS: RDY) announced today that it has launched Zoledronic Acid Injection (4 mg/5 mL), a bioequivalent generic version of Zometa® (zoledronic acid) 4 mg/5 mL Injection in the US market on March 4, 2013, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy’s ANDA for Zoledronic Acid Injection (4 mg/5 mL).

Dr. Reddy’s Zoledronic Acid Injection 4 mg/5mL is available in a single use vial of concentrate.

Disclaimer

This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.

About Dr. Reddy’s

Dr. Reddy’s Laboratories Ltd. (NYS: RDY) is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses – Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products – Dr. Reddy’s offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars, differentiated formulations and NCEs. Therapeutic focus is on gastro-intestinal, cardiovascular, diabetology, oncology, pain management, anti-infective and pediatrics. Major markets include India, USA, Russia and CIS, Germany, UK, Venezuela, S. Africa, Romania, and New Zealand. For more information, log on to: www.drreddys.com

Zometa® is a registered trademark of Novartis AG

Dr. Reddy’s Laboratories Ltd.
Investors and Financial Analysts:
Kedar Upadhye, +91-40-66834297
kedaru@drreddys.com
or
Saunak Savla, +91-40-49002135
saunaks@drreddys.com
or
Milan Kalawadia (USA), +1 908-203-4931
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Source: FULL ARTICLE at DailyFinance

Killing Them Softly: The Hitman Story, Part 2

Smell is not a sense catered to by video games. It’s perhaps just as well; most of us get by just fine without having the funk of a freshly evacuated bowel mixed with the sting of fresh cordite wafting into our loungerooms out of our video games.

Every now and then, however, comes a scene so vivid you can almost smell it. A morbidly obese man reclines on a bed in a private room inside a grimy, slaughterhouse.

The disgusting image paints a portrait even your nose can imagine: a foul cocktail of body odour and expired offal.

Scotsman Campbell Sturrock, ‘The Meat King’ of Romania, runs the country’s largest meat packing plant with his brother Malcolm. Together they’re responsible for the kidnap, torture and murder of a girl; a girl whose father has enlisted the services of Agent 47 to find and avenge.

Continue reading…

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Source: FULL ARTICLE at IGN Video Games

From Bucharest and Padua To San Francisco: Jaspersoft's Growing 50%

By Peter Cohan, Contributor

I have never heard of a company like Jaspersoft. Sure there are plenty of companies that are trying to make money by adding value to open source software. But none that I know were formed by acquiring two companies — one from Bucharest, Romania and the other from Padua, Italy. …read more
Source: FULL ARTICLE at Forbes Latest

Undeclared horse meat found in Czech Republic

The Czech Republic became the latest country to detect horse meat in food products labeled as beef in a widening European food labeling scandal, officials said Wednesday.

The discovery was made by the state-run Agriculture and Food Inspection Authority. DNA tests detected horse meat in lasagna Bolognese made by frozen food processor Tavola S. A. Comigel and sold at a Tesco store in the western city of Plzen, the agency said Wednesday. Tesco was ordered to recall it, and tests continue.

In Romania, 100 kilograms (220 pounds) of horse meat mislabeled as beef was found in Bucharest, the agriculture ministry said Wednesday. Ministry spokesman Achim Irimescu told national news agency Agerpres that the meat which was detected Tuesday had been correctly labeled at source. There were no further details about where the meat was being sold.

Romania was at the origin of the horse meat scandal, with tons of horse meat from Romanian abattoirs exported to France, where it was processed into ready-made meals. Romanian authorities said that the meat had been correctly labeled as horse and the fraud had occurred further down the food supply chain.

Horse meat has turned up across Europe in frozen supermarket meals such as burgers and lasagna, in beef pasta sauce, on restaurant menus, in school lunches and in hospital meals.

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Source: FULL ARTICLE at Fox World News

Romania: alleged illegal trafficking of human eggs

Police questioned 30 people on Tuesday and searched the homes of six employees of a private fertility clinic who are suspected of illegally trafficking human eggs and selling them to Israeli couples with fertility problems.

The sale of human eggs for in vitro fertilization is illegal in Romania.

Police said employees at the clinic in Bucharest harvested the eggs from Romanian women aged 18 to 30, some of whom were students, paying them between euros 600 and 800 ($450 and $600), then sold the eggs for euros 3,000 to 4,000 ($2,255 to $3,005).

Police say a criminal network of 11 suspects has been involved in the illegal trafficking of human eggs, including Romanian and Israeli citizens from medical professions such as doctor, nurse and embryologist.

Most of the people who benefited from the service were Israeli women who visited Romania for artificial insemination, and the suspects made “considerable financial gains” through this illegal human egg trafficking, police said in a statement.

In November, a Romanian court sentenced four Israeli doctors in absentia to five years in prison in a separate egg-trafficking case.

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Source: FULL ARTICLE at Fox World News

The Romanian Horse Cart Ban That’s (Probably) Behind Europe’s Horse Meat Scandal

By Nadia Arumugam, Contributor

By now you’ve read more than you probably care to read about Europe’s latest stomach-churning food scandal.  Yes, that would be the one about frozen burgers, lasagna and spaghetti Bolognese masquerading as all-beef products, when in reality they consist of some beef combined with varying amounts of that other red meat; horse.

But just in case you’ve a renewed appetite for this fast-evolving saga, read on as we try to unravel just where on earth all this horse meat is coming from?

It’s likely that shoppers at major UK supermarkets have been buying and consuming these equine-tinged products for up to a year ignorant of their true contents. Following recent DNA testing, grocery giant Tesco has admitted that the ground meat in the frozen spaghetti Bolognese in its “Everyday Value” range is more than 60 percent horse.

A month ago, the Food Safety Authority of Ireland discovered that frozen burgers in the same Tesco range contained approximately 29% horse meat.  Frozen patties in other major stores made by processing plants in Ireland and in the north of England– also suppliers to Tesco, were similarly contaminated. In one out of nine burgers tested, the Irish authorities found low levels of horse meat. This spate of discoveries in Ireland sparked off the comprehensive investigation that has led to fingers being pointed in all and every direction.

Officials in Ireland believe that the horse meat in the products they tested were Polish in provenance. But it doesn’t end there with the Poles.

The Tesco “spag bol” – as the Brits endearingly refer to this favorite dish, was made by Comigel, a supplier in northeastern France. Comigel produced the now infamous lasagna for Swedish frozen food brand Findus. Yes, the one found to contain 100 percent horse meat.

Findus claims to have been entirely oblivious to the horse meat ingredients that were found in its “beef” products in the UK, France and Sweden, believing itself to be as much a victim as the consumer.

Comigel supplies tens of thousands of tons of frozen meals to around 15 countries. The company risks having to cough up massive fines as a consequence of the scandal, even if it’s found that its suppliers committed the alleged fraud.

So then, where are these suppliers, and where are they getting the horsemeat from? The supply chain, it seems, reportedly snakes back to traders in Cyprus and the Netherlands, then to abattoirs in Romania. Take a moment to study Romania’s laws governing equine transport, and therein you may find the reason why Romania has been peddling excess horse meat of late.

In 2007, as part of efforts to bring Romania in step with European Union law, the country banned horse-drawn carts from main roads in cities and towns. Horse had been intrinsic to Romanian life pulling carts through the streets or working the fields. Following the ban, countless numbers of stray horses have been abandoned. Starving and with nowhere to go, they roam the streets and parks of Romania’s major cities.

Consequently, the emaciated horses are rounded up and if left unclaimed (almost all are), they are sent to slaughterhouses. Abandoned animals aside, poor Romanians are selling their horses to slaughterhouses because they can’t afford to keep them. The monthly income of subsistence farmers in the countryside is less than the costs of feeding a horse for that period. According to an Associated Press report, costs run between €100 ($135) and €150 ($200) to keep a horse every month — up to 40 percent of the average national salary.

There are 35 processing plants in Romania that are authorized to slaughter horses, and horse exports are on the increase, up 10 percent in the last year.  The Romanian government has vehemently denied any wrongdoing on the part of its slaughterhouses. Adamant that all the horse meat exported was properly labeled, the Romanian Prime Minister feels his country is being used as a scapegoat in this crisis.

The slaughterhouse which supplied Comigel with its “mystery meat” was indeed Romanian.  The Kravys abattoir, in Botosani, northeastern Romania, slaughters 3,000 to 4,000 horses annually and exports the meat to Sweden, the Netherlands, Bulgaria and Poland. In a report by the BBC, the abattoir insists that its labeling and procedures are above board, with horsemeat and beef kept clearly apart.

Could the real villain then, be lurking elsewhere?

At the heart of the scandal, it’s now alleged, are two meat traders, one from Oosterhout (in southwest Netherlands) and the other, known as Jan F., the director of a Cyprus-based meat trading company called Draap Trading.

Incidentally, Draap is horse in Dutch, spelt backwards.

These men are said to be the missing link between Romanian abattoirs and French suppliers. Both men have been convicted in the past for passing off South American horse meat as halal-slaughtered Dutch beef.

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Source: FULL ARTICLE at Forbes Latest

Serbia, Romania Pile into Primary Market to Sell Longer-dated Debt

Serbia and Romania outlined plans Thursday to sell longer-dated debt in international bond markets after Hungary held a successful syndicated bond sale earlier this week, prompting market watchers to ask who could be next in the pipeline from Central and Eastern Europe. …read more
Source: FULL ARTICLE at Fox Business Headlines

Rescuer defends Romania's horses from slaughter

The name of his farm translates roughly as “Saving Horses from Wolves.” But for Simion Craciun, the real predators are the nearby slaughterhouse.

When word has gotten to him that a horse is being sold to the abattoir in the poor northern Transylvania region where he lives, he has rushed out to offer more money and bring the creature back to his picturesque plot where tourists come for riding lessons, he said.

“When I see how farmers whip them, it drives me mad,” Craciun said. “I go to sleep thinking about them; I wake up thinking about them.”

Even in a country where the horse is a national symbol, such concern for their welfare is rare. In tough economic times, some Romanians are selling their horses to slaughterhouses because they can’t afford to keep them.

Europe‘s horsemeat scandal has focused the spotlight on Romania and its network of 35 plants authorized to butcher horses. France says Romanian butchers were part of a supply chain that resulted in horsemeat being labeled as beef in frozen meals across Europe. The Romanians have bristled and say the meat was properly declared when it left the country.

Horse exports have been growing, up about 10 percent from 2011 to 2012, with about 6,300 tons of horse, mule and donkey meat exported. Many of those were sold by private owners.

Bedraggled horses and rickety carts were once a common sight even in the center of Bucharest with owners sometimes whipping the animals until they collapsed. But as part of an effort to modernize the country after it joined the European Union in 2007, Romania banned horses from cities, making them an unjustified burden for many owners.

In the countryside, peasants have a more pragmatic relationship with their animals, and look after them rather like an owner services a car. But with costs between €100 ($135) and €150 ($200) to keep a horse every month — up to 40 percent of the average national salary — it can be far too expensive for subsistence farmers to afford them.

“Horses are expensive to keep and many owners have been forced to give them up especially since they were banned from cities,” said Nicu Stoica, a riding instructor who owns several horses.

Yet beaten, malnourished and unkempt as …read more
Source: FULL ARTICLE at Fox World News