Crisis
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Crisis halves compensation of Erste CEO
Andreas Treichl, the CEO of Erste Group, which controls BCR, got 1.48 million euros in compensation from the bank he runs last year, down 55% compared with 2008.
Each Romanian lost a 1,000-euro holiday because of the crisis
The 2009 GDP witnessed the most abrupt decline of the last two decades in absolute value, in euros.
Crisis causes plots on the outskirts of Bucharest to revert to farming land status
Land prices have fallen less over the last two years in city centres, where the supply is quite limited, and more on the outskirts of cities and in rural areas, where investors used to acqui...
Vladescu to economic advisers working abroad: Please get the country out of the crisis
Romania is not very likely to experience solid economic growth in the long run without a solid increase in exports, believes Finance Minister Sebastian Vladescu.
Stock Exchange in 2009: Profits halved by crisis
The cumulated profits of 63 of 69 companies listed on the Bucharest Stock Exchange halved in 2009, the worst year for the Romanian economy in the last decade. Still, revenues and turnovers o...
Crisis wipes out 600,000 jobs
The unemployment rate hit 8.1% in January, the peak of the past 8 years, and new job creation plummeted last year, as private companies created 700,000 fewer jobs than in 2008.
Crisis will slash Romanian bankers' bonuses, as well
It was clear in the past that banks' payment systems needed to be connected to creating long-term value, to performance achieved throughout an entire business cycle, and not to next quarter'...
Crisis melts down foreign remittances
The remittances of the Romanians abroad, the surest stream of financing for the foreign deficit over the last few years, collapsed in July, plummeting 90% compared with the same time of last...
Camelia Bazac: During crisis times, it is only true fans that are buying Ferraris
Camelia Bazac, general manager of Forza Rossa, says that sales of Ferrari brand, which includes cars priced from 200,000 to 350,000 euros, have not been hurt by the financial crisis, with th...