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IMF delegation to tackle soaring trade deficit, surge in lending
The economic growth estimated for the first half of 2003 was 0.2% smaller than the 5% originally stipulated in this year's budget, said Finance minister Mihai Tanasescu. The underperformance...
Underground economy, close to 8bn euros
The underground economy - those economic activities partially or completely left out of the accounting books - accounts for 18% of the Gross Domestic Product, said Valentina Ungureanu, head...
Foreign legal advisors called in to assist in Cosmorom war
The "war" over the future of mobile telephony operator Cosmorom, waged by its two shareholders, Greek company OTE and the Romanian State seems far from being worked out and has reached the f...
Greenspan's estimates send dollar higher, euro slips to two-month low
The US dollar yesterday climbed to the last two months' record-high against the single European currency (1.1125 USD/EUR), following an optimistic assessment of the American economy prospect...
Ruling party uses next year’s budget to secure electoral victory
The ruling party will use next year's budget to back up the ample social programme announced by the Social-Democrat Party (PSD), comprising measures needed to win over the voters for next ye...
New additions to Whirlpool's product line
Whirlpool Romania became the official importer of Polish home appliances brand Polar, which targets the middle and middle to low-end segment. The American group, which accounted for more tha...
Star Foods, from potato chips to women's accessories
Better known to consumers both as a producer and distributor of potato chips and snacks, Star Foods Romania has decided to invest on the non-food market as well. The company is planning to b...
Noble Ventures now looking to get $350 million from the Romanian State
U.S. company Noble Ventures has raised the amount requested as damages from the Romanian State in the lawsuit it filed in Washington, after having been ousted from Resita Steel Mill (CSR). T...
Sales in instalments to produce effects as soon as of next year
The furniture market will increase 10% for its second consecutive year, despite of a somewhat poorer exports performance for the first part of this year, analysts in the field estimate. The...