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Romanian economy relies heavily on foreign loans to fund budget deficit
With a budget deficit almost 80% financed from external sources, public investment projects and soaring bills for imports funded with loans that are constantly guaranteed by the State, Roman...
Petrom bets on natural gases for bigger profit
SNP (National Oil Company) Petrom relies on selling its natural gas portfolio for boosting the value of the company and improving profit, given the deregulation of this market, Petrom's gene...
Howard Johnson to open on February 9
Howard Johnson Grand Plaza, the former hotel Dorobanti from Bucharest, will open on February 9, as the $30m modernisation works have been completed, said Antoni Kuhnen, the hotel's general m...
BRD market value soars to more than $1bn on Bucharest Stock Exchange
The market value of BRD (Romanian Development Bank) - Groupe Société Générale, Romania's second-largest bank in terms of banking assets, yesterday exceeded the one billion-dollar landmark on...
New telecoms take on roaming bonanza
One year from the complete deregulation of the communications market, the new competitors on the telephony market are taking on the roaming-type service segment, currently controlled by two...
State eager to cash in on BCR
The actual deal by which EBRD and IFC get 25% in the largest Romanian bank, Banca Comerciala Romana (Romanian Commercial Bank - BCR), i.e. the transfer of the $222 million payment under the...
Suspension wave on mutual fund market
Mutual funds that failed to attract 70,000 euro investments or 500 investors and fund management companies whose share capital is not worth at least 35,000 euros. That is what the National S...
Ardaf to focus on Bucharest
With a new team and a new location for the Bucharest branch, the Cluj-Napoca-based insurer Ardaf plans to double the share of the capital city in its turnover this year. Ardaf reported under...
Industry and trade revenues on the rise
The companies dealing in industry saw 5% turnover growth in the first eleven months of last year in real terms, compared with the same time in 2002. The data supplied by the National Statist...