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Departure of foreign execs pushes rents down to half
Luxury homes are no longer in demand, some say, while other realty agencies swear that such residences are still popular. The departure of foreign managers, who have been replaced by local e...
Petroconst turnover down 33%
Oil and natural gas construction company Petroconst Constanta estimates to have made more than 1,000bn ROL (some 30 million euros) turnover in 2002, with gross profit amounting to 80bn ROL (...
Another American business goes down the drain
It seems Romania is not quite the best place for the major American businesses, yet: the leading propane distributor in the US, UGI Corporation ($2.5bn in annual revenues) and its partners h...
Dumarex sales 10% down
Deluxe perfume importer and distributor Dumarex Import-Export SRL, which controls the Dumarex store chain is currently in talks for a partnership with a Romanian investor, the name of which...
Another warning from central bank: ROL/USD exchange rate is not nailed down
The nominal depreciation of the ROL against the US dollar has resumed, after a long interval of stability. In ten days, the dollar has gained more than 200 ROL, which brought it close to thi...
Savings Bank chairman steps down
Savings Bank chairman steps down
Savings Bank chairman steps down
The situation of one of the largest financial-banking institutions in Romania, Casa de Economii si Consemnatiuni (Romanian Savings Bank- CEC), has become extremely blurred, after the institu...
ING Nederlanden slows down, yet remains market leader
ING Nederlanden slows down, yet remains market leader
ING Nederlanden slows down, yet remains market leader
ING Nederlanden Asigurari de Viata (ING Nederlanden Life Insurance) collected 445bn lei in H1 premiums this year, up 55% as compared with the year-ago period, that is an actual growth of nea...