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Holcim's Q1 sales hit by cold
Sales of the local division of Swiss group Holcim operating on the cement, concrete and aggregates sector dropped about 40% in the first quarter of this year because of the prolonged winter...
Banks pressured by profit decline
The more inflation spirals down towards a one-digit figure and competition increases, the more the banks' capacity to gain from margins decreases, which pressures profitability, financial ra...
Banca tiriac increases capital by $10.5m
Banca tiriac shareholders have recently endorsed a share capital increase by 340.68bn ROL (nearly $10.5 million). The bank's capital prior to this decision was worth 664bn ROL. The capital i...
Private sector distraught by lengthy Easter holiday
The decision of the Nastase Government to "shut down" Romania for one whole week, between Easter and May 1, has caused the profound dismay of the private sector representatives. Although the...
Banca Romaneasca to increase capital by 3m euros
The shareholders of Banca Romaneasca have decided during the latest General Meeting to favour the bank's capitalisation over dividends this year. Thus, they approved a 100bn ROL (3m euro) ca...
Toneli preparing bio eggs laid by carefree chickens
The Toneli Group, one of the largest egg producers in Romania, is preparing to set up the first bio egg farm in the country, following a several hundred thousand dollar investment, general m...
Sports shoes defeated by high heels
Any foreigner that comes to Romania says women here are very beautiful and elegant. High heels, although most uncomfortable, are a mandatory accessory for any Romanian woman, whether she goe...
Euro surge joined by US dollar plunge to four-time low
Neverending nightmare for those unlucky enough to have euro-denominated credits or leasing contractsIn only three days (since the beginning of March), the ROL exchange rate against the singl...
$332 million recovered by AVAB
The Banking Assets Resolution Authority (AVAB)'s revenues in February were in excess of 9,000bn ROL (more than $332 million). Most of this amount was obtained in form of direct revenues (8,1...