LOSSES
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Energy Trader Makes Four Times More Money Than Hidroelectrica
While the Romanian state’s most valuable asset, Hidroelectrica, is insolvent, companies that buy energy at below market prices and sell it on make significant profits, ending up with turnove...
Outcome Of A Decade Of Secrets: Direct Contracts Cost Hidroelectrica EUR1.5B In Lost Profits
In 2001, the newly incorporated Hidroelectrica, the cheapest electricity producer created by the reorganization of the Romanian energy system, signed its first direct contract to sell power,...
How Much Bankers Get Back From A Loan In Default
Bankers manage to get back only 30% of unsecured consumer loans that default, with the rest amounting to losses, according to a study by the Romanian central bank BNR, conducted on a quarter...
A 7-Magnitude Quake In Romania Would Cause Property Damages Of EUR4.8B - Survey
An earthquake similar in intensity to that which shook Romania back in March 1977 might cause real estate damages of EUR4.8 billion, considering that the total value of homes in Romania is e...
Mandatory Pension Fund Administrators’ Losses Up 55.3% In 2010, To RON45.97M
Romanian mandatory private pension fund (Pillar II) administrators registered losses of 45.97 million lei (about EUR11 million) in 2010, up 55.3% compared to the previous year, according to...
Brutaru’s Disastrous Term At Tarom’s Helm: Loss Of Over EUR130M In Two Years
Ruxandra Brutaru’s two-year term at the helm of state-run airline Tarom has seen the company cumulate EUR134 million in overall loss, the negative record of the last decade.
Tabara: Cucumber Producers To Be Reimbursed Up To EUR247,200
Romanian cucumber producers will receive up to EUR247,200 as partial reimbursement for their losses estimated at around EUR9 million, Agriculture Minister Valeriu Tabara said Monday.