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Romanian Commercial Bank set to cut lending, announces currencies rate hike
The Romanian Commercial Bank (BCR), Romania's largest bank, yesterday announced a rate hike for the currency loans granted to both natural and legal persons. Interest rates will increase by...
Finance Ministry mulls 3% cut in social security contributions
Social security contributions will be 3% lower as of next year, as they are slated to drop to 49.5%, down from the current 52.5%, according to Finance minister Mihai Tanasescu. The minister...
10% Napolact capital cut
Netherlands-based Friesland might increase its interest in the Romanian dairy products maker Napolact Cluj from 40% to 44% without buying even a single share. Napolact's Board of Directors d...
CAS cut likely to range between 3-5%
The general consolidated budget of the State cannot bear a CAS (social security contributions) reduction by more than 3 percentage points next year, i.e. from 52% to 49%, Finance Ministry so...
The party is over: margins must be cut down to half!
Banks are no longer encouraging Romanians to save money. The interests on banking deposits are just one step away from sliding below the inflation, and have already become real negative for...
BSE and Rasdaq mulling merger in a bid to cut costs and gain investors' trust
High trading costs, shrinking liquidity, few attractive listed companies, and, most of all, upcoming competition from other capital markets. This is the almost critical situation of Romania'...
Why cut credit rates?
The Romanian banks still maintain a wide interest spread, that is a wide gap between active interests (credits) and passive interests (deposits). The banks last year operated a substantial r...
Lucky year for inflation cut
Romania concluded 2002 with 17.8% in December to December inflation, following a 12.5% decrease compared with 2001. The authorities had set 22% as inflationary target early in the year, alth...
Big bankers under pressure to cut benchmark rates
Three of the world's largest central banks - The Federal Reserve (Fed), the Bank of England and the European Central Bank are prepared to cut interest rates for the first time this year, in...