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RomTelecom losses go up, pave the way for layoffs
Romanian fixed telephony operator RomTelecom last year posted net losses worth 64.6 million euros, up 38.9 percent since 2001, the company's main shareholder, Greek group OTE said yesterday....
More money for Finance Ministry
The general consolidated budget ended 2002 with 2.7% of GDP deficit, compared with 3.2% in 2001. This is one of the factors that led to a bigger-than-expected inflation drop, down to 17.8%,...
Bonds for residents and non-residents
Romania is preparing to release a new eurobond issue on the international capital markets. The new issue is worth 500 million euros and matures in seven years, Finance minister Mihai Tanases...
Competition for Banca Romaneasca
Hungary's OTP Bank is not the only institution interested in taking over the 75% stake owned by the Romanian-American Investment Fund (FRAI) in Banca Romaneasca (Romanian Bank). "We are in a...
Four companies for oil fields
The National Mineral Resources Agency (ANRM) is negotiating with Regal Petroleum - UK, Toreador - US, Pannonian International Energy and Rompetrol over the concession contracts for five oil...
Daewoo Bank sold for $17 million in record time
The transaction through which the group of Italian firms IMM Manufatti Maglierie was supposed to take over the main stake in Daewoo Bank Romania was eventually closed at the end of last week...
New XXL stores for Easter
What is the best time to open a store? According to Rainer Exel, head of the discount store chain XXL Mega Discount!, this must be before Easter and the winter holidays. After having opened...
Vacantion for only 30% of Romanians
More than half of the people in Romania last went on holiday more than three years ago, while only 32% did the same in the past 12 months, a survey of the National Opinion Polls and Marketin...
No more life insurance for employees
The insurance law will soon be modified to increase the maturity (the period of time that has to pass before the underwritten amount can be withdrawn) of the life insurance premiums included...