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Low volume of assets keeps mutual fund managers' salaries down
Investment managers make an average 1,500 euros a month on a mutual fund market where profitability is highly dependent on the volume of managed assets. The salaries earned by local investme...
Major retailers: Our profits don't exceed 5% of turnover
The Association of Large Retail Networks in Romania (AMRCR) has answered the accusations made by foods producers that say profit margins in Romanian modern retail are smaller than in traditi...
Bucharest needs 1bn-euro investments to stay out of the dark
Bucharest needs investments worth one billion-euros in electricity networks over the coming years in order to cope with rising consumption. The development of the real estate sector, along w...
Vienna Insurance buys BCR out of its insurance business
In a sweeping move, Vienna Insurance group has taken over the two insurance companies owned by BCR - BCR Asigurari and BCR Asigurari de Viata. The Austrian-based insurer bought the entire in...
Value of deals struck in Romania to exceed 13bn dollars by 2012
The value of deals conducted in Romania will exceed 13 billion dollars by 2012, whilst the 5% economic growth forecast for the next four years will contribute to an increase in the volume of...
Petrom reveals value of Russian deal: 100m euros
The transaction between Petrom and Ring Oil Holding & Trading took place in 2006, but the acquisition costs for the shares were only made public in Petrom's 2007 report. Petrom, the largest...
Kraft Foods: New LU cookie unit will generate 15-20% of turnover
Kraft Foods Romania is set to change the structure of its domestic portfolio with the creation of the LU cookies division, while forecast sales are expected to account for 5-7% of this year'...
BCR & BRD: bulk of credits granted to trade sector
Companies that are involved in trade account for the bulk of funding granted by large banks to the corporate sector, indicate the financial reports of BCR and of BRD-SocGen. In the case of B...
Romania uses only 3% of European agriculture funds
The agriculture sector had at its disposal European funds worth 760 million euros last year, of which it managed to absorb just 20 million euros, i.e. only 3%. The post-accession funds for 2...