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Pants put stockings out of business
Embracing the Western fashion, Romanian women are leaning towards comfortable clothing and tend to forsake elegance. They favour pants over skirts, which has led to dwindling sales of stocki...
RWE backs out, upsets PricewaterhouseCoopers' plans
German RWE Group's decision to freeze all acquisitions in Eastern Europe, including that of Electrica's Muntenia Sud branch has upset consultant PricewaterhouseCoopers' plans. The consulting...
Vorkink out, Anand in
Indian-born Seth Anand will be the new World Bank director for Central and Southern Europe and also handle the relations with Romania, effective August 15. He replaces Andrew Vorkink who wil...
Copos out of phase with authorities' plans
After having made money from electronics, pastry and electrical engines, businessman George Copos is now betting tens of millions of dollars on tourism, albeit out of phase with the authorit...
Kvaerner IMGB out of the red?
Although it took five years from privatisation, IMGB Bucharest held by Anglo-Norwegian Kvaerner Group could end the year loss-free or even with a small profit. Also starting this year the co...
Alahdad out, Saadat in
Change of highest-ranking official in World Bank's Romanian Bureau. As of August, Pakistani-born Owaise Saadat will officially become World Bank's resident representative in Bucharest. He is...
Romanians pay for three out of ten CDs, BSA says
Software piracy rate in Romania went down five percent in only one year, reaching 70% by late 2002, as announced by the Business Software Alliance (BSA), the association representing the sof...
SIFs, about to be left out of capital market law
The National Securities Commission (CNVM) will submit the consolidated capital market law draft to Parliament this month. The Financial Investment Companies (SIF) risk being left out of this...
IMF: conduct reform, watch out for slippages
The development of the Romanian economy is still far from the stable growth image constantly presented by the authorities. Behind the macroeconomic statistical data lurks an unrestructured e...