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Covalact manager likely to invest in agritourism
Ioan Balan, who in mid-2007 sold his entire stake in dairy producer Covalact to US investment fund SigmaBleyzer, in a deal put at 7 million euros, says he is likely to invest part of the cap...
Erste forecasts banking assets to triple by 2011
"The total assets of the Romanian banking system are expected to increase more than three times by 2011, whilst in Serbia assets will double," estimates Rainer Munz, head of research and dev...
Nokia relocates production to Romania
Finnish company Nokia will lay off 2,300 employees from its Bochum plant in Germany and focus production at its new plant in Jucu, Cluj county. Nokia has voiced plans to shut down the Bochum...
Intesa Sanpaolo: Nothing to buy on the market
On the Romanian banking market, there is nothing to buy at the moment, explains Corrado Passera, CEO at Italy's Intesa Sanpaolo group, which ranks third in the eurozone in terms of market ca...
Zapp to see investments after takeover by Arab group Saudi Oger
The takeover of Romanian company Telemobil (operator of the Zapp network) by the group owned by the family of the former Lebanese Prime Minister Rafic Hariri - one of the richest families in...
CEOs receive bonuses worth up to 50,000 euros
The heads of multinationals present on the domestic market at the end of last year received bonuses of up to 35% of their annual gross base salaries, which accounted for an average of 50,000...
Nokia to assemble 5 mobiles per second in Cluj
Finland's Nokia, the world's largest manufacturer of mobile phones, is poised to launch manufacturing operations at its new Romanian plant on February 11. The factory will assemble five mobi...
Mutual fund assets up 50% to 270m euros in 2007
Net investments in mutual funds amounted to over 60 million euros in 2007, and acted as the main driver for an increase in assets. Mutual funds reported an over 50% asset increase, to 954.2...
Asirom prepares to manage voluntary pensions
Asirom, an insurance company controlled by Austrian group Vienna Insurance, will enter the market of voluntary pensions this year, through Asirom-Concordia, a company where it holds over 99%...