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Petromidia losses down 1,500bn ROL
Rompetrol Rafinare Petromidia's losses fell from 1,823.5bn ROL to 329.8bn ROL (about 9 million euros) in the first half, while turnover progressed by more than 22% to 16,107.1bn ROL (440 mil...
Allianz-tiriac slows down
Insurer Allianz-tiriac posted 68m euros in gross underwritten premiums in the first half, up 27% from the corresponding period in 2002. The company's growth pace slowed down considerably fro...
Socep profit, down again
Profits of Socep Constanta harbour operator have followed the same downward trend for the second year in a row, amid shrinking traffic in Constanta harbour and tighter competition.Thus, Soce...
Brau Union Romania shuts down beer plant under cost-slashing strategy
SAB Miller, the world's second-largest beer company, last year closed down its Buzau-based factory because of the slower-than-expected Romanian market growth. It is now the turn of Austrian...
Fiercer competition and bigger investments push banking profits down
"In the years to come, inflation will drop and profit margins will shrink so that, unless volumes increase, the banks' earnings will be endangered." This statement belongs to National Bank o...
Foreign investments down 25%
The foreign investments in Romania had come to total $9.54bn by late May, $420 million more than early in the year. Still, the foreign investments actually made in the first five months of 2...
National Bank cuts ROL appreciation forecasts down to 2%
Will we see a faster depreciation of the domestic currency against the 60% EUR/40% USD basket? Will inflation stop below 13-14%, the level forecast at the beginning of the year? Hard to say....
CAS might go down 5%
The Government is planning to cut the level of social security contributions (CAS) from 52% to 47%, because the work force costs are very high, the Delegate minister in charge of keeping in...
New home on Primaverii Blvd? Take an old one down first!
The traditional residential areas in Bucharest, such as Aviatorilor, Primaverii, Dorobanti or Floreasca have run out of land, given that they have always been the top choice for those lookin...