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Termoelectrica takes $200 million loan to stock up for winter
Termoelectrica SA, the leading electricity producer and the third-largest company in Romania will contract a $200 million loan in order to build the necessary fuel stocks for the winter of 2...
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...
Medas to take over Metropol
Insurer Mediteranea Assicurazioni (Medas) is to take over the 12,000 life insurance policies held by Metropol, the Romanian-based insurer that filed for bankruptcy. "Some of those policies h...
Romanians develop borrowing frenzy, banks happy to oblige
The banks kept meeting the demand for credits from individuals and companies in June, so that the balance went up to nearly 225,000bn ROL six months through the year, 25% above the December...
Electrolux logs 94% first half growth due to consumer credits
The strong growth in the sales of the home appliance retail chains following the introduction of the hire purchase has also influenced their main suppliers, i.e. the producers. World's leadi...
Oresa Ventures to sell outdoor advertising company Churchill Media
The consolidation of the outdoor advertising market, which started several years ago, may yield a surprise ending sometime in the next few months. Churchill Media, the market's third-largest...
New Fiscal Code draft likely to boost mortgage loans, home improvement market
If you wish to apply for a mortgage loan, perhaps it would be wise not to hurry: starting next year, the Tax Authority will accept the deduction of loan rates. They are not giving anything a...
IMF has some more issues to discuss
IMF's Bucharest office on Monday confirmed the new supplementary letter of intent with the Romanian Government was not finished yet. The fund expects to see "firm steps" to cut losses in the...
Tengelmann does come to Romania
Tengelmann Group, Germany's third leading distribution operator is planning to enter the Romanian retail market after having opened branches in Austria, Poland, Portugal, Spain, Czech Republ...