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If the Government decides to raise the single tax to 20% and VAT to 25%, the new housing stock will become unaffordable for most Romanians, and put a crimp on developers’ construction plans,...
Fitch Ratings said Romania could join the euro area in 2015, alongside Bulgaria, Hungary, Latvia, and Poland according to Fitch’s EMU Convergence Report.
BSE’s most traded stocks posted modest gains at closing today, but the five financial investment companies gave up 2.05% on average.
The governor of the National Bank of Romania and minister of Public Finances will meet chairman of the Senate and leaders of the chamber today at 13:00.
The most actively traded stocks at BSE moved sharply higher, while financial investment companies recorded the biggest rise, of 13.57%.
OMV Petrom (BSE:SNP), Romania’s largest company by revenues, said its first-quarter net profit rose 60% to 807.4 million lei (€196.1 million).
The list of countries with the highest default risk changed in the last month, with some euro countries joining the top.
Romania and the Central and Eastern Europe (CEE) region continue to be affected by the global recession and as the downturn hit these countries later than the U.S. and Western Europe, it is quite...
The European Parliament called in particular on Bulgaria and Romania, in a report adopted yesterday, to build up their administrative capacity to manage EU funding, remove existing or potential...
ING said the Government’s austerity plan that includes cuts in wages, pension and unemployment benefits are much more efficient than raising taxes, in terms of medium and long-term economic...
FrieslandCampina Romania appointed Peter Snautzer as chief executive of the company. He will succeed Ian Gearing who left his post in April.
The National Bank of Romania set a reference rate of 4.1874 lei/euro today, up 0.1% from yesterday, the highest rate in four months, after poor overnight trade.
The five financial investment companies fell sharply today, posting 6.5% decline at closing, and wiped out all the gains made at the beginning of the year.
The alternative to raising single tax and VAT announced by president Traian Basescu envisages a drastic cut in state spending. The Government’s plan to comply with the deficit targets under...
Romania’s trade deficit widened 28% in March from the same period of last year, to €856.6 million (3.5 billion lei).
Assets of Romanian banking system dropped 0.08% year-on-year in the Jan-Mar 2010 period to €78.13 billion. In local currency, the industry’s assets fell 3.2% to 320 billion lei,...
The International Monetary Fund (IMF) has revised its economic growth projections for Romania from 1.3% to zero or even below, to -0.5%, but said it expects the economy to recover by yearend, IMF...
Unemployment dropped in April to 8.07% from 8.36% a month earlier, and from 5.7% in the same period of last year, according to data from the labor agency.
European Commission delegation chief, Fabienne Ilkovitz, warned that the Commission will disburse the next tranche under the IMF-led aid deal to Romania only if the Government puts in place its...
The number of bankruptcy filings surged 27% in 2009, from 14,483 in 2008 to 18,421, according to a study by Coface.
The National Bank of Romania set a reference rate of 4.1641 lei/euro, down 0.56% from the four-month high reached Friday, as other currencies in the region had a similar trend versus their European...
The Supplemental Letter of Intent and the Technical Memorandum signed yesterday with the International Monetary Fund and European Commission unveil new austerity measures of the Government.
Romania’s annual inflation rate accelerated to 4.28% in April, driven by a jump in food and services prices coupled with the depreciation of the local currency, data from the National...
The Ministry of Economy said it would soon begin valuation and the required disclosure documents for the listing of 10-15% equity of national gas company Romgaz at the Bucharest Stock Exchange.
UniCredit group set up Financing & Advisory department, in an effort to improve the advisory services to its corporate customers in Romania.
The minister of economy and trade, Adriean Videanu said he would meet in Turkey at Istanbul with the Turkish minister of energy and natural resources Taner Yildiz to discuss the Nabucco gas...
Romanian National Securities said it authorized the subsidiary of the asset manager Franklin Templeton Investment Management Ltd in today’s session.
30-day loan delinquencies reached €880 million in March (3.6 billion lei) 2.6-fold higher than year-ago level, and 27% higher than end-2009.
With the worldwide economic crisis making strategic risk management a key issue for business leaders, a new survey from PricewaterhouseCoopers suggests internal audit has the right company-wide...
The National Bank of Romania set a reference rate of 4.1756 lei/euro today, up 0.28% from Monday, as other currencies in the region fell against their European counterpart.
RBS has set up a financial education program in Romania, MoneySense that is run for over 15 years and is one of the largest financial and business skills program in UK and Ireland.
Stocks at the Bucharest Stock Exchange fell across the board today, after a broad rally yesterday on all indices.
Romania’s largest fixed-line telecom carrier said its total revenues for the three months period ending March 31 dropped 3.3% year-on-year, from €201.4 million to €194.8 million.
Approximately 500 pensioners took part in a picket in front of the Cotroceni Palace in Bucharest from 10:00, after the government announced sweeping spending cuts, including the 15% drop in...
Cosmote, the third largest mobile telecom carrier in Romania, said its revenues for the three-month period ending March 31 increased by 13.3% year-on-year, from €101.3 million to €114.8...
UniCredit Tiriac Bank said its first-quarter net profit dropped 50% year-on-year to 64 million lei (EUR 16 million) in a period of stagnant market and growing credit risk.
Technical consumer goods market dropped 24.9% in the first quarter compared with the year-ago period, according to the latest GfK TEMAX research.
Sports apparel retailer Decathlon has leased 2.2 hectares plot of land in Era Shopping Park retail park where it will open a new store by the end of the year, the developer of the park, Omilos...
What are the advantages of pre-letting, when and how you negotiate the lease contract, what traps and tricks are hidden in a lease agreement and taxes imposed on revenues from rents are among the...
Romania’s first-quarter Gross Domestic Product fell 2.6% from the same period of last year, and 0.3% from the fourth quarter 2009.