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Bucharest Stock Exchange Sees Worst August In Four Years
The capitalization of the companies listed on the Bucharest Stock Exchange fell by 11.7 billion lei (EUR2.6 billion) in August because of the panic among investors.
Financial Market Turmoil Halves Mandatory Pension Fund Yields
The high volatility on the financial markets halved the yields of the mandatory private pension funds to an average of 3% this year.
Romania’s Banking System Lost One Fifth Of Branches And Employees Since 2008
Almost seven years from the onset of the economic crisis, the banking system has lost one fifth of the jobs and offices. A number of 14,282 people left the system and 1,349 offices and branc...
Retail Euro Loans See Spectacular Decline
Retail euro loans, which include both consumer and mortgage loans, have seen such a significant decline that banks are now selling EUR15 million worth of loans a month compared with EUR200 m...
Non-Resident Deposits Down At Six-Year Low
Non-residents’ medium and long-term deposits, which are mostly a form of support from parent banks abroad, stood at EUR5.4 billion (24 billion lei equivalent) at the end of June, down EUR500...
Major Energy Markets Showing Signs Of Rebound
The major energy markets, fuel and electricity, showed signs of rebound in the first half after years of decline. Gas consumption, on the other hand, did not, given the hard times the local...
Cheap Oil Hurts Grup Servicii Petroliere’s Business
Grup Servicii Petroliere (GSP), the offshore drilling company of Constanta businessman Gabriel Comanescu, expects revenue to drop by more than 20% this year mainly because of the abrupt decl...
Ford Romania’s Revenue Down 17% In 2014
Ford Romania, the second most important carmaker in Romania, posted EUR912 million revenue last year, down 17% on 2013, according to Finance Ministry data.
Insurers’ Aggregate Loss Down To RON36m In 2014
Local insurance companies posted 36 million lei (EUR8 million) aggregate loss in 2014, down from the more than RON1.3 billion in 2013.