LOSS
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Tarom Loss At $22M In First 9 Months; Expected To Exceed $40M By Yearend
Romanian state-run airline Tarom’s losses amounted to $22 million in the first nine months of 2013 and are expected to reach at least $40 million by the end of the year, Nicolae Demetriade,...
Restructured Loans Trigger RON61M Loss For Romanian Banks In September
The Romanian banks reported a combined loss of 61 million lei (EUR13.7 million) in September, due to reclassifying restructured loans which triggered an increase in loan-loss provisions by R...
Losses Of Commercial Banks And Central Bank Strongly Affect Romania’s Budget Revenues
The Romanian state collected only 15.7 million lei from banks in the first nine months of this year as earnings tax (tax on profit), 18 times less than in the similar period of 2012, and cen...
Fraud Causes Romanian Insurers To Lose Up To EUR150M/Year - Association
Insurers in Romania lose about EUR150 million annually, or 10% of the value of underwritten premiums, because of fraud, Bogdan Andriescu, head of national association of brokers UNSICAR, sai...
Former Tnuva Farm Expands To 1,200 Cows, But It Still Posts Loss
The former Tnuva farm in Adunatii Copaceni, in Romanian southern county of Giurgiu, has reached a total 1,200 cows, but it’s still posting loss, owner Marin Boraciu said.
Ghetea Not Worried About Loss To Banking System Due To Swiss Loan Court Cases
Radu Gratian Ghetea, president of the Romanian Banking Association (ARB), says he is not worried about loss to the banking system as a result of court cases that could be brought by individu...
Oltchim Revenues Halve To EUR79M In January-August
Romanian insolvent state-owned chemical plant Oltchim Ramnicu Valcea (OLT.RO) registered total revenues of EUR79 million in the first eight months of 2013, down EUR73 million on the year, ac...
CFR Calatori 1H Loss Narrows To RON139M
Romanian state-owned railway passenger carrier CFR Calatori registered loss of 139 million lei (EUR31.6 million) in the first half of 2013, down from RON200 million in the similar interval a...
Greek Eurobank Posts 1H Loss Of EUR13.7M In Romania
Greek bank group Eurobank, owner of Bancpost, posted losses of EUR13.7 million in the first half of the year, after a net profit of EUR4.3 million in the fist quarter, the financial institut...