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Stephen Stead relinquishes position at the top of Terapia
The chief executive of drug maker Terapia Cluj Napoca, Stephen Stead, will relinquish his position after having reached an agreement with the new majority shareholder, the Indian company Ran...
Celco operates at a 40% net margin
Celco Constanta, manufacturer of construction materials, saw a 54% growth of its net profit in euros, while its turnover rose by some 35%. Celco posted a net profit worth 8.31 million euros...
Isarescu sees inflation at less than 4% as late as 2009
The central bank will not relax the interest rate even when inflation stabilises towards 5%, says NBR Governor Mugur Isarescu. "We are wondering what we will relax when we see inflation stab...
Indians at Asmita build flats with Greek money
The Indian real estate developer Asmita will complete the first stage of the Asmita Gardens residential project, which includes 320 flats, in September of 2008, according to company official...
NBR maintains monetary policy rate at 8.5%
The Board of Governors of the National Bank of Romania (NBR) yesterday decided to maintain the interest rate at 8.5% a year, feeling it was necessary to keep the monetary policy restrictive...
No spate of Indian managers at Terapia
The takeover of Cluj-based drug manufacturer Terapia by the Indian company Ranbaxy will not resemble that made by Mittal Steel, which brought Indian managers at Sidex, but will rather be lik...
New and old bosses at ARB
Radu Ghetea, the first vice-president of Alpha Bank, yesterday secured a new three-year term as the Romanian Banking Association (ARB) chairman. He ran against Mihai Bogza, Bancpost chairman...
Turks at Prolemn seek locations for a plant
Kastamonu Entegre, the biggest Turkish player in the wood industry and owner of the Romania-based multi-layered wood boards maker Prolemn Reghin, stated that it intends to invest over 100 mi...
Petrom tries to cut down costs at refineries
Petrom will invest one billion euros over the next five years to retool and slash production costs of Arpechim Pitesti and Petrobrazi Ploiesti refineries. The company''s management on Monday...