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Talks with IMF as of October 20
The negotiations for a new precautionary arrangement-type stand-by agreement with the International Monetary Fund (IMF) will begin on October 20, when a delegation of the financial instituti...
National Bank of Romania’s revenues, down last year
The National Bank had quite a slow year in 2002, financially speaking, as it witnessed a slump in revenues due to the decline in the interests on its deposits abroad and to the reduction in...
Budgetary deficit, down to 0.6% of GDP
Seven months through this year, the deficit of the general consolidated budget accounted for 0.6% of the estimated GDP, compared with 0.8% in the first half, following a rise in revenues der...
Microsoft's take-over of RAV, endorsed
The Competition Council authorised the transaction by which Microsoft acquired the assets of RAV Antivirus from the domestic company GeCAD Software this June, feeling it will not harm the co...
Prices of urban land triple
Prices of land situated within localities have risen more than threefold over the last five years, while the trading value of the areas situated outside a locality is almost flat, according...
Cement price sparks controversy, suspicions of monopoly
The three cement producers operating on the Romanian market, Lafarge (France), Holcim (Switzerland) and HeidelbergCement (Germany), are the target of serious accusations regarding a "threeso...
Ecological dumpsites collect millions of euros annually
Environment protection has Romania striving to meet EU standards, but has also engendered a highly profitable business: ecological dumpsites. The business of ecological deposits has huge pot...
GSK acquires all of Europharm, amid strategy controversies
Several months of difficult negotiations later, British group GlaxoSmithKline, the world's second-largest drugmaker, yesterday bought all the shares it did not own yet in Romanian pharmaceut...
National Bank of Romania determined to mend macroeconomic cracks
The 1% increase in the interest rate used by the central bank in its money market interventions (from 18.25% to 19.25%) and support for a slight ROL depreciation by foreign currency purchase...