cuts
82 articole · RSS
Fed cuts rates to 1%, markets disappointed
The Federal Reserve cut interest rates by a quarter-point on Wednesday and pointed to further determination to counter the danger that the United States would slide towards deflation. Althou...
ECB cuts interest rates to 48-year low, hopes for economic recovery
The European Central Bank (ECB) has cut interest rates to the lowest since at least 1948 in any of the dozen nations using the euro, as the single European currency's appreciation saps econo...
Profit tax cuts yet to reach Romania
With a standard profit tax quota of 25%, the Romanian companies have to bear heavier fiscal burdens than the enterprises based in the neighbouring countries. For instance, the Hungarian Exch...
BCR cuts interests
Banca Comerciala Romana (Romanian Commercial Bank - BCR) cut interests on credits for individuals and corporate bodies by up to 4% yesterday. The base interest on short-term loans for econom...
Intercontinental cuts losses
Intercontinental Hotel Company (CHI), the owner of the Bucharest-based Intercontinental and Lido Hotels last year posted $153.3 billion ROL ($4.6 million) losses, while revenues reached 279...
Eximbank cuts interests
Romania's Export Import Bank (Eximbank) has cut base interests on loans for companies engaged in export operations as of this week. The rate cut also goes for the ROL-denominated loans contr...
Restructuring cuts Electroaparataj profits
Electrical equipment maker Electroaparataj Bucharest concluded 2002 with 36.4bn ROL ($1.1 million) in net profit, according to preliminary results. Profit dropped nearly 40% in real terms co...
COS Targoviste cuts losses
Combinatul de Oteluri Speciale (Special Steel Plant) Targoviste managed to cut its losses by nearly two thirds in 2002 compared with the previous year, from $31 million (909bn ROL) in 2001 t...
Dacia cuts losses
Romanian carmaker Dacia has managed to cut losses last year, meeting the target set at the beginning of 2002. On the other hand, sales exceeded 57,700 cars, with 52,700 units sold on the loc...