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Inflation up less than expected in May
The implementation of the vice tax has caused a rise in excise duties as of May, making cigarettes 9% more expensive, while the price of spirits went up only 0.5%, even though the business o...
Sherif: The less you touch the product, the better
Rand Sherif, general manager of Interbrands, the biggest distribution company in Romania, says he had to cut down the number of warehouses from 34 to 24 to retain competitiveness. "In distri...
Isarescu sees inflation at less than 4% as late as 2009
The central bank will not relax the interest rate even when inflation stabilises towards 5%, says NBR Governor Mugur Isarescu. "We are wondering what we will relax when we see inflation stab...
OTP Bank: 2m-euro less in the first quarter
OTP Bank Romania closed the first quarter with a net loss worth 0.6 billion forints - equivalent to over two million euros - while assets reached 246 million euros, almost 38% more than in M...
Ardaf transfers less for reinsurance
The value of premiums transferred for reinsurance purposes by Ardaf halved last year, although the company''s revenues grew by 30% in RON, according to its annual report, published on the RA...
Ductil Buzau: less profit, higher dividends
The leading Romanian producer of welding and metal cutting solutions Ductil Buzau, saw a net profit worth 13.3 million RON (3.68 million euros) in 2005, some 12% less in euros against the ne...
Romanians save and borrow less than their neighbours
Romanians save and borrow the least of all the inhabitants of the states in the region, a survey by UniCredit group analysts reveals. The financial assets of Romanians amounted to some 682 e...
Broker Cluj makes 25% less
Cluj-based Broker, the only financial brokerage company listed on the Bucharest Stock Exchange, posted a 5.25 million RON (1.46 million euro) gross profit in the first two months of the year...
New round of mortgage rate cuts sees interest kept at less than 10%
February starts with a new round of rate cuts for mortgage loans, both in RON and in foreign currency, as more and more banks are definitely sticking to rates of less than 10%. The declines...