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Half of Flanco likely to be sold for $20-25m
A consortium comprised of investment funds DBG and Polish Enterprise Fund IV may take over 50% in Flanco by yearend, under a transaction estimated at $20-25 million, according to sources clo...
Romanians not keen on voting new Constitution, PSD resorts to emergency measures
Ruling party PSD (Social Democrat Party) had a rough day yesterday, as Saturday, on the first day of the referendum for the Constitution amendment, only 14.29% of the almost 18 million voter...
Banks, companies, eager to boost credit card market
Even though the consumer credit boom in the last twelve months has yet to induce a similar trend on the credit card market, the Romanian banks, either on their own or working in concert, are...
Conferences as strategy to get FDI
Had it not been for foreign investments, Hungary would not have been ready for accession in 2004, Kalman Mizsei, UNDP's regional director for Europe and CIS said during the opening of the "S...
Daewoo Bank to invest $3m
The new Daewoo Bank shareholders, namely the group controlled by Italian businessman Giovanni Andrea Innocenti, are planning to invest over $3m next year in the bank's development. The money...
Exchequer wants banks to check clients' accounts
The Exchequer relies on substantial support from banks for collecting its debts from the taxpayers failing to pay their obligations to the budget, as of next year. The Fiscal procedure code...
Annual inflation likely to exceed 14% official target
Inflation in Romania can still go beyond two percent in one month, which makes the National Bank of Romania's plans to have a full-year one-digit inflation rate even harder to materialise. T...
Howard Johnson Grand Plaza to use all-stars approach
Located downtown Bucharest, the Howard Johnson Grand Plaza hotel - the former Dorobanti, which needed 20 million dollars to climb to four stars, is preparing to enter the market with a uniqu...
BCR first to up interests
National Bank of Romania can give itself a pat on the back again, even though partly: the message it wanted to convey by the 1% rise in its benchmark interest on the monetary market has reac...