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Shocking news on insurance market - Unita to draft financial recovery plan
Shocking news on the insurance market. Unita, the company backed by Austria's largest insurer - Wiener Stadtische, must submit a financial recovery plan to the Insurance Supervision Commissi...
LG changes strategy to double sales
In an attempt to boost operations on the Romanian market, South-Korean group LG Electronics has enforced a change in strategy. Whereas the group has worked only with distributor Romanel in t...
OTE to focus on Cosmorom
OTE officials yesterday said the company "is planning to focus on identifying an efficient financial strategy for Cosmorom, its Romanian mobile telephony subsidiary," according to a Reuters...
Leasing soars to record-highs, only to fall flat in 2002
The Romanian leasing market, that is the cumulated value of all contracts, will reach 1.5 billion euros in 2002. This forecast was repeated all through last year by the players and analysts...
Past scandals force companies to re-register
All the companies not nationally represented will have to change their names in case they include the "national", "institute" and "Romanian" words, following a Government decision recently e...
Ministries no longer allowed to contract foreign loans
The Romanian ministries will no longer be able to contract foreign loans on their own and then ask the Finance Ministry to simply secure the credits, which they have been doing so far, in ac...
Sicomed and Sanex to shed jobs
Whereas the employees of state-owned companies are blocking the roads demanding compensations worth 36 monthly salaries, two major Romanian companies, Sicomed Bucharest and Sanex Cluj (which...
Supermarkets to take GFS beyond 70m euro
GFS Group last year made 50 million euro (1,620bn ROL) turnover in Romania, up from the 35 million euros the year before. GFS' turnover will reach 70 million euros in 2003, that is 40% more...
Interest rates for deposits likely to stay put in the next months
Perhaps some of the most frequently asked questions by those who chose the domestic currency for their banking deposits are: How will rates evolve? Will they keep dropping? Will they stay pu...