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Banks looking for long-term sources of cash
The decline in savings kept in banks month by month and especially the reluctance towards long maturities are now forcing banks to find other sources of long-term cash. The solution seems to...
Government plans price increases and layoffs to help balance of payments
After a lot of urging and prodding by the International Monetary Fund (IMF), the Government has chosen the middle of winter as the best time to start cutting losses at the state-owned enterp...
NBG wants a slice of retail market
National Bank of Greece (NBG), the largest Greek financial group, has decided to expand on the Romanian retail market by developing the network of its new acquisition, Banca Romaneasca (Roma...
Uniform credit costs as of next year
Flat interest, total interest, annuity, management fee - all these are terms that might easily confuse anyone looking for a consumer credit and comparing the offers on the market. Things wil...
SIF Banat-Crisana negotiates sale of Gazvest
SIF (financial investment company) Banat-Crisana is planning to sell its 25% stake in private natural gas distributor Gazvest under a $3 million deal, sources close to the talks say. The buy...
Budget deficit keeps at 0.7% of GDP
The budget deficit had come to account for 0.7% of GDP at the end of October, the same as in late September, yet down to about half the level in the first ten months of last year, Finance Mi...
$1bn dowry required of SNTR suitors
The investors that want to participate in the negotiations for acquiring the controlling interests in Societatea Nationala Tutunul Romanesc (National Romanian Tobacco Company - SNTR) must be...
Single European currency sees seven days of unnninterrupted growth
The single European currency has again surged against the US dollar on the international markets, which propelled the euro to a new record-high against the ROL yesterday in Bucharest - 40,50...
Italy's Eni bows out of Petrom race
The series of withdrawals of the world's oil giants from the Petrom privatisation race came to an end when the Italians from Eni decided to leave the competition, following the lead of Conoc...