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Continental To Cut Almost 900 Jobs In Romania
Germany’s Continental Group, the largest actor in the Romanian automotive industry, with almost 20,000 employees, has announced a number of streamlining steps that will affect about 870 jobs at its ContiTech and Automotive units in Romania.
Government Adopts Ordinance On Curbing Budget Deficit
The government on Monday announced the adoption of the emergency ordinance aimed at curbing budget deficit to 7% in 2025, as undertaken before the European Commission.
Orange Asks OTE for EUR24M Price Cut for Telekom Fix
France's Orange Group, one of the biggest players in the global communications market, has asked Greece’s OTE to lower the final price for the majority stake in former fixed-line monopoly Ro...
Alro Slatina Officially Announces Production Cut Due to Rising Power Prices
Aluminum smelter Alro Slatina (ALR.RO), the largest consumer of electricity in Romania, announced on the Bucharest Stock Exchange on December 27, 2021, that its aluminum production would dec...
Central Bank Understands Need For Cash, Banks Should Not Expect Further Cut In Minimum Reserves
Romania’s central bank is in no hurry to give banks cash by cutting minimum mandatory leu reserves, since it does not know whether the shortage of cash on the local interbank market will las...
Tourism Minister Aims To Cut VAT To 9% For Travel Agencies
Tourism Minister Mircea Titus Dobre said, at an event organized by the National Association of Tour Operators (ANAT), that he wants to cut the value added tax to 9% for travel agencies.
Fondul Proprietatea Cancels 179 Mln. Shares To Reduce Share Capital
Investment fund Fondul Proprietatea (FP.RO) has reduced its share capital from RON9.3 billion to RON9.2 billion by cancelling 179 million own shares acquired by the fund.
Bancpost Cuts Required Down Payment On Mortgage Loans In Lei And Euro
Bancpost, one of the largest Greek-held banks on the Romanian market, has decided to reduce the down payment required on mortgage loans in lei to 25% from 33%.
Romania’s Public Debt Up RON20B One Year After VAT Cut
Romania’s direct public internal and external debt reached 278 billion lei (EUR61.7 billion) at the end of May 2016, having gone up by RON20 billion on the end of May 2015, according to Fina...