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Competition and high costs eat into bank profits
Significant competition, costly restrictions set by the NBR and a lack of efficiency across the system have resulted in modest profit growth or even declines in the first quarter of 2006, in...
ABB and Alstom post record profits
Multinationals that delivered equipment to companies on the energy market benefited from the privatisations in this sector. ABB posted a profit worth 2.65 million euros last year, a five-fol...
Murfatlar set to focus on China and Russia
Radu Morar, marketing manager with Murfatlar, one of the biggest wine producers domestically, says exports will account for 20% in the company''s turnover this year. "After having strengthen...
EBRD and GED to sell stakes in Continental hotel chain on BSE
The European Bank for Reconstruction and Development (EBRD) and two financial vehicles of the Spanish GED Capital Development have started procedures to sell their stakes in the Continental...
Mergers and acquisitions worth 5.8bn dollars
With mergers and acquisitions totalling 5.8 billion dollars (4.6 billion euros) last year, Romania is currently second in the regional market, in a ranking calculated by the total number and...
Contracts with Bosch and Dacia boost Sinterom business
Contracts signed by Bosch and Dacia Renault will this year bring Sinterom, a member of Serviciile Comerciale Romane (SCR) group of firms, a 33% increase in turnover against the figures poste...
UniCredit offsets HVB and Tiriac asset decline
HVB Bank, Banca Tiriac and UniCredit Romania, the three banks that will form a group by early next year, held total assets worth 3.08 billion euros at the end of the first quarter. Bank Aust...
Malaxa and Ausnit heirs claim $400m in Property Fund shares
The heirs of Nicolae Malaxa and Max Ausnit, two of the biggest industrialists of interwar Romania are claiming damages for the fortunes seized by the communist regime, in the form of shares...
Bucharest and Sibiu Exchanges merge
Shareholders of the Exchange in Sibiu (BMFMS) approved the merger in principle with the Bucharest Stock Exchange (BSE) at the end of last week, after BSE shareholders had in their turn endor...