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Luxurious homes for $2.5 million
Cernavoda-based General Concrete Company will dedicate the luxurious "Sun Flower" residential park by the end of this year. The park is located in the Baneasa area and entails a $2.5 million...
President decorates "producers of arrears" for outstanding merits
Everybody agrees that the energy industry makes up the unrestructured hardcore of Romanian economy. However, President Ion Iliescu seems to think very highly of the managers at Electrica, Ro...
First deliveries for Reactor 2 expected
Nuclearelectrica, Romania's third-largest electricity producer, estimates 2003 turnover to amount to some $130 million, about the same as last year. It is not the turnover that makes this ye...
Syndicate prepping Distrigaz for privatisation
The consultant that will deal with the privatisation of Distrigaz Nord and Distrigaz Sud is a syndicate comprising Credit Suisse First Boston (CSFB), the Romanian-American Enterprise Fund an...
11m euro storage facility for Dacia
The spare parts for the Dacia, Renault and Nissan makes will become available at a joint storage in Pitesti in a matter of months, following an approximately 11 million euro investment in bu...
More money for taxes
This is the third year when the Finance Ministry promises fiscal relaxation, but taxpayers will actually have to pay more money in form of taxes and duties, feeding either the central or the...
IMF pushes for reform and privatisation
More thorough structural reforms, accelerated privatisation and prudent salary policy - this is the prescription of the International Monetary Fund experts. The IMF Managing Board, which ana...
Unions and SIFs bracing for pensions
The private occupational pensions are still in the drafting stage, but the action behind the scenes shows the future players are intently focused and already marking their turf. The unions -...
Lucky year for inflation cut
Romania concluded 2002 with 17.8% in December to December inflation, following a 12.5% decrease compared with 2001. The authorities had set 22% as inflationary target early in the year, alth...