01.27.2012

The costs at which banks borrow from one another have fallen significantly in the past few weeks thanks to the abundant liquidity on the interbank market and clients whose interest rates are being more

01.19.2012

Romanian chemical company Oltchim (OLT.RO) Thursday said it will establish a payment schedule for its debt to energy supplier Electrica, a day after the latter has terminated an agreement signed in more

01.16.2012

The debts of Romanian state-owned railway administrator CFR SA to the state budget and the risk fund, amounting to 4.5 billion lei (over EUR1 billion) at the end of 2011, will be written off by the more

01.16.2012

Romanian state-owned electricity supplier Electrica reduced volumes delivered to chemical company Oltchim (OLT.RO), because of a debt worth more than EUR100 million, and it is summoning the company to more

01.11.2012

Dairy maker Tnuva Romania’s bid for insolvency was postponed Tuesday, and the court will rule in the matter on February 21, a deadline by which the company may be foreclosed for debts worth more more

12.31.2011

Romania’s exports continued to increase in 2011, driven by foreign demand, though they slowed down in the second half, given the turmoil caused the sovereign debt crisis in the euro zone countries, more

12.30.2011

The sovereign debt crisis that threatens to choke the euro zone and the entire European Union with it, calls for steps throughout the entire Europe to contain it by cutting government spending. In more

12.22.2011

Romanian state-run coal mining company Compania Nationala a Huilei (CNH) will transfer its non-viable mines to the national tax authority ANAF in exchange for having its debt to the consolidated more

11.22.2011

The pressure on leu interests will go up again and the government will remain trapped in short-term funding on the local market. In a worst case scenario, Romania might end up borrowing money from the more

11.15.2011

The debt funding gap on commercial real estate in Romania stagnated at some $2 billion in the first nine months, namely 5% of the overall investment, a percentage similar to the one in UK, but lower more

11.11.2011

Officials with Nokia Romania said Friday they are working with authorities to analyze the situation and reach a satisfying outcome after the tax authority impounded its assets over a $10 million debt more

11.11.2011

Finnish mobile giant Nokia breached legislation by requiring tax exemptions for imports of electronic parts although the products were already assembled and came from outside the EU from countries more

11.11.2011

Romania’s tax authority ANAF impounded Nokia’s assets in Jucu, northwestern Romania, for a $10 million debt the Finnish mobile giant has amassed in unpaid custom taxes, ANAF chief Sorin Blejnar more

11.10.2011

More than half of Romanians (56%) say they barely manage to cover their current expenses and almost a quarter (24%) say they are in debt, according to a study by GfK Romania, which points out that more

11.09.2011

Romanians should be aware that they are responsible for some of the country’s foreign debt of EUR90 billion, central bank governor Mugur Isarescu said Wednesday. more

10.31.2011

The Romanian Senate's leadership on Monday took note of a letter reporting the existence of a German historic debt to Romania and a special committee will be set up to analyze the issue, said Senate more

10.31.2011

Romania’s public debt rose to 207.57 billion lei (EUR48 billion) in August, from RON204.63 billion a month earlier, Finance Ministry data showed Monday. more

10.31.2011

From 2005 until 2010 Greece’s public debt as a percentage of GDP grew from 100% to 150%. In less than a year, the debt went up by a further ten percent, and is currently at 160% of GDP, which more

10.28.2011

Romania’s Government has assigned an extra 315 million lei (EUR73 million) to local authorities in 36 localities to help them pay off debts to heat suppliers, the Governments aid in a press release. more

10.25.2011

Romania pays similar interest rates on its sovereign bonds as Spain and is perceived as less risky than Italy or Hungary, but trades outside neighbor Bulgaria. more

10.25.2011

The government’s interest spending, which has tripled in the last three years, will continue to rise, making it into an important risk factor for fiscal control. Payment obligations will increase more

10.18.2011

A typical debtor to a bank is male, aged 30 to 34 years, lives in Bucharest and holds a loan in lei, according to data from the Credit Bureau, the institution that collections information on loans to more

10.11.2011

The flawed state management translates into losses of EUR1.3 billion each month (EUR18 billion per year) as Romania lacks three main abilities: the skill to attract EUR400 million that it should take more

10.10.2011

Second tier banks, which used to deal with non-performing loans on their own, are now selling their receivables to specialized debt collectors so as to be able to move employees handling collection to more

10.05.2011

Romania’s funding needs will remain high next year, as UniCredit analysts estimate it will reach EUR22.4 billion, EUR5.7 billion (34%) higher than this year. more