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Some Romanians can afford to turn down $20,000 monthly salaries
It has long been known that Romanians are not happy with their wages. Consequently, it is certainly surprising that some Romanian managers are refusing net monthly salaries that can go up to...
Otelinox profit spiralling down
Profit of the iron and steel plant Otelinox Targoviste dropped 85% last year as compared with 2002, according to the preliminary data released by the company. The plant posted losses in the...
Electrocontact, profit down, price up
Electrocontact Botosani, a maker of electrical equipment and electrotechnical products concluded last year with only 12% turnover growth in nominal terms, while net profit was down 36%, acco...
RIB president steps down
Ion Ghica, former president of the Romanian Commercial Bank (BCR) and the Romanian Savings Bank (CEC), who has until recently headed the Romanian International Bank (RIB), has resigned from...
Parmalat Romania shuts down bottling line
Parmalat Romania officials on Wednesday said the company would not pull the plug on its local operations, despite the financial scandal that has been plaguing the mother-company for two mont...
NBR reserves down second month in a row
The National Bank of Romania (NBR) in December 2003 logged a new substantial decline in its foreign currency reserves for the second month in a row. The reserves shrank by 228 million euros...
Christmas bonus pushes single European currency down on Romanian market
The ROL/EUR exchange rate dropped 132 units yesterday, down to 40.612 ROL/EUR, mainly because of the big sales of euros by the banking customers that need bigger amounts in the domestic curr...
Industrial output growth slows down
The industrial output in the first ten months of this year went up 3.3% from the year-ago period, both in absolute volume and in comparable conditions in terms of number of working days, acc...
Compa Sibiu profit down to half
Automotive components maker Compa Sibiu will end the year with 14.6bn ROL net profit, down more than 51% from the initial estimate in the S&R budget endorsed in late April, which had set 30b...