Year
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Vienna Insurance cuts costs by 7m euros a year
Austrian group Vienna Insurance is currently working on a plan to create synergies among five out of the seven companies it owns on the local market in order to cut costs by 7 million euros...
Carpatcement braces itself for first year of net profit decline
German HeidelbergCement group, which operates on the domestic cement, aggregate and concrete markets, is expected to post a decline in net profit in 2008, after four years of growth, due to...
Piraeus raises interest on RON deposits to 10.5% a year
Piraeus Bank, a medium-sized player on the retail segment now offers an annual interest rate of 10.5% for three-month deposits. The bank, however, requires that such deposits be new, as the...
Worst hit companies on the Bucharest Stock Exchange this year
Companies with medium capitalisation on the Bucharest Stock Exchange were among the worst hit by the decline since the beginning of the year, having lost 40% to 60% of their value, while the...
Silvarom sees 50% of staff leave in under one year
More than 300 employees at Silvarom, a leading furniture producer, have left the company to work abroad or in the constructions sector. Silvarom now has 400 employees, compared with 725 in t...
Asirom's managers could make as much as 5m euros a year
The members of the management board of Asirom insurance company, who will be elected in the next few weeks, will receive gross annual pays of 10,000 euros to 2.5% of gross underwritten premi...
bauMax expects sales to double this year
Austria's bauMax DIY retailer this year expects its Romanian sales to double to 120m euros as 3 new stores will be added to the network. BauMax will operate 8 stores by late 2008 and in 2009...
Actavis relies only on exports for growth this year
Drug manufacturer Actavis Romania (formerly Sindan) this year aims to double export levels to 30m euros, up from 15m euros last year. Concerning domestic sales, the company has budgeted a si...
Enterprise Investors: 2 or 3 deals signal a successful year
Cristian Nacu, a partner with Polish investment fund Enterprise Investors, says he is in advanced talks for 2-3 takeovers on the domestic market, after last year he failed to seal any acquis...