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Companies: There’s life after insolvency. Consultants: Don’t rely on banks

Most of the companies that went insolvent stand high chances of avoiding bankruptcy, but to do it they must not expect financing from [... more]

Fabryo expects to boost market share this year

Varnish and paint producer Fabryo Corporation, held by investment fund Oresa Ventures, intends to boost its market share to 25% this year, compared with just [... more]

Who’s vying for the most eagerly awaited infrastructure project, the tube in Drumul Taberei?

Businessmen Ovidiu Tender, Radu Ouatu, Florea Diaconu and Alexandru Horpos compete with international giants in the construction sector to achieve [... more]

Caroli-Campofrio merger removes Ovidiu Wencz from new management structure

Ovidiu Wencz, general manager of charcuterie producer Tabco-Campofrio, will not be part of the management of Caroli Foods Group, formed by the merger of the [... more]

Romanians at Allview are working on a mobile phone with GPS, 3G and WiFi

Visual Fan, a Brasov-based company with 3 million euros in annual turnover, which manufactures and sells electronic products under its own brand Allview, [... more]

Lukoil expects 2% decline in fuel market, if things stay the same

Lukoil Romania, the third largest player on the local fuel market, which owns around 300 petrol stations with over one billion euros in turnover, believes [... more]

Emporiki: 18m-euro loss in 2009

Emporiki Bank, local subsidiary of Emporiki Bank Greece, a member of French group Credit Agricole, posted an 18.3 million-euro loss last year, more than [... more]

How Grigore Chis wants to change one of the largest brokerage firms on the market

Broker Cluj is currently focusing its strategy on attracting young, well-informed clients, who trade online, as well as on “awakening” the firm's [... more]

Two of the six hundred 400,000-euro Ferrari cars bought by Romanians

Two Ferrari 599 GTO models worth above 380,000 euros are set to be delivered on the Romanian market this year by Forza Rossa, the importer of the Italian [... more]

Bankers say they will turn on retail lending spigot just a little

Bankers do not expect to grant too many retail loans this year and say housing and consumer loans will increase by around 10% in 2010 after stagnating last [... more]

Efraim Naimer wants to reach 6m-euro turnover with Platinum Asigurari

Efraim Naimer, one of the key-people in the field of insurance in the past ten years, targets gross underwritten premiums worth 5-6m euros for this year for [... more]

IMF chief expected in Bucharest on March 30

International Monetary Fund managing director Dominique Strauss-Kahn is expected on a short visit to Bucharest on March 30; this is the second visit to [... more]

Companies with 850m-euro business insolvent

As part of its new anti-crisis plan, the Government should announce the creation of a national investment fund fuelled by minority stakes the state holds in [... more]

Google organises a seminar to promote Romanian tourism

Google, owner of the world's most popular search engine, will organise a seminar in partnership with the National Association of Travel Agencies in [... more]

Humanitas posts 30% lower turnover, to 7m euros

The Humanitas group, which includes the Humanitas Publishing House, Humanitas Fiction, distribution company Librariile Humanitas and Humanitas Multimedia, [... more]

Matache Macelaru on the verge of insolvency

Principal Company, which makes the Salonta and Matache Macelaru charcuterie products, is one step from insolvency after Buzau Court of Law last week decided [... more]

Atay, Garanti Bank: Partnership with GE Money will continue in Romania

The Romanian subsidiary of Garanti Bank will continue its partnership with GE Money subsidiaries, although US giant General Electric has recently voiced its [... more]

Leasing down by 72%

Leasing has been the hardest hit market by the financial crisis, with financing granted last year for the acquisition of cars, buildings and equipment [... more]

Nestlé’s boss sees no reasons for performance deterioration in 2010

The Swiss-born manager appointed at the helm of Nestlé Romania a year ago, Jacques Reber, expects people to talk less about the crisis starting the third [... more]

Dusu cousins offer 8.2m euros to take over Socep Constanta

Businessmen Niculae and Ion Dusu, owners of Celco Constanta, the second biggest player on the ACC market, want to pay 8.2m euros to acquire 65.48% in Socep [... more]

Ford Europe: Our credibility among Romanians improved after we started production in Craiova

Ford Europe's vice-president in charge of sales, Ingvar Sviggum, expects Romania to revert to increases of as much as 25% on the car market in the next [... more]

Yields between 7 and 170% for mutual funds in the past year

Equity funds have generated yields like in their good times, of as much as 170% in the past year, but nevertheless investors have preferred to shelter their [... more]

Dramatic situation for NBFIs: One in three loans is loss making

Non-performing loans ended up amounting to one third of the portfolio of non-bank financial institutions (NBFIs) double as much as in the summer of last [... more]

Apartment prices are half of what they were when the crisis started

The collapse of the housing market started two years ago, after prices reached an all-time high in March 2008, of almost 2,100 euros/square metre, which [... more]

Zara shareholders come up with 3m euros to develop Romanian stores

Spanish group Inditex, owner of the Zara clothing brand, has increased the share capital of two of its local divisions, Zara Home and Massimo Dutti RO by [... more]

Agricola Bacau poultry producer boosts exports to 20% of its business

Agricola Bacau, the second-largest poultry producer after Transavia, increased the percentage of exports from 12% to almost 20% of its production in the [... more]

Money is no longer invested in equity funds

Investors are no longer enticed by the three-digit yields of equity funds, preferring non-risky investments in monetary funds and in bonds, which in the past [... more]

Banks and NBR paid 630m-euro taxes in 2009

Commercial banks paid 1.2 billion RON (300 million euros) in profit tax, data sent by the National Fiscal Administration Agency to ZF [... more]

Banks and NBR paid 620m-euro taxes in 2009

Commercial banks paid 1.2 billion RON (290 million euros) in profit tax, data sent by the National Fiscal Administration Agency to ZF [... more]

Victor Ponta’s solutions for economic rebound

The new PSD (Social-Democratic Party) leader Victor Ponta believes the introduction of the 16% flat profit tax by the liberal government was one of the worst [... more]

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