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Interest rates calculated by Romanian banks stir controversy
When someone applies for a loan, the banks often present only the interest rates and a list including the value of all the monthly instalments to the last penny. Perhaps no one ever wonders...
NBR management term extended by elections
The term of the current Board of Directors of the National Bank of Romania (NBR) expires on December 19, right after the parliamentary elections, when there might be no one available to appo...
Inflation misses target by very slight margin
Inflation concluded 2003 at 14.1%, if calculated December to December, down from the 17.8% in late 2002, though a little above the official target. The disinflation target was attained due t...
Oriflame Romania hit by consumer lending
Oriflame Romania, the local branch of the Swedish cosmetics producer, had great expectations for 2003, as it planed to grow 30% in real terms. However, the company hit a nine-year record-low...
BCR eyed by ING and HVB again?
The Romanian market, even though no longer offering the yields of the previous years, is still looking good to international banking groups. Especially where retail is concerned. A proof to...
Sanex to be bought by Lasselsberger
Austrian Lasselsberger Group, one of the most powerful family businesses on the European construction supplies market, aims to acquire the top two makers of ceramic tiles in Romania, Sanex C...
CNVM nominated by brokers for "Blunder of the year"
The National Securities Commission (CNVM) yesterday managed to take the Romanian capital market by surprise. However, the surprise was not a "crystal-clear" regulation or a measure aimed to...
Altex targets 120m euros by yearend
Electronics and home appliances retail chain Altex is revising its sales estimates upwards again, after its general manager announced a 100 million euro turnover had already been attained. "...
Romanian businesspeople unfazed by electoral year, predict significant growth
Next year holds two certainties in terms of business: first, 2004 will be a leap year, so the businesspeople will have an extra day to close deals and make money, and second, it will be an e...