Business

Insurance still an optional extra for Romanian homeowners

by Craig Turp July 12, 2010 Bucharest

 One morning three years ago – having recently moved into a new apartment – we were phoned by our baby (she was a baby at the time) girl’s nanny, who was in a bit of a panic. Water was cascading down several walls from the apartment upstairs. Oh joy. We rushed home, and while we [...]

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Basescu’s Romania: Arse and elbow in new mix-up

by Craig Turp March 2, 2010 Bucharest

 From the government that brought you a compulsory profit tax on losses, and a tax on fast food comes another wonderful initiative designed to see thousands more Romanian companies close: all Romanian companies (no matter their size) must hire not one, but two full time accountants. Yes, you read that correctly. More than 40 MPs, [...]

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Empty blocks set to dominate Bucharest skyline for years to come

by Craig Turp January 20, 2010 Bucharest

 This headline popped up on the Mediafax wire this morning: One-third of 6,000 Bucharest apartments finished in 2009 still for sale. One-third? As anyone who has passed by any of these new developments will tell you, they look like ghost cities: almost empty. The idea that two-thirds have been sold strikes us as overly optimistic. [...]

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Bucharest Life 2009

by Craig Turp January 4, 2010 Bucharest

 A week or so late, here is Bucharest Life’s Review of the Year that was 2009. January A new government, led by Traian Basescu and Little Emil Boc, installed following parliamentary elections at the end of 2008, introduces, amongst other moves of sheer political genius, a compulsory profit tax for small companies (even those that [...]

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Notes on the sales figures of Romanian ‘quality’ newspapers

by Craig Turp June 23, 2009 Business

 Firstly, it should be noted that in any other country these newspapers, classified ‘quality’ in Romania, would be called mid-market. Romania has no genuine quality newspapers, leaving aside the niche, business dailies. Adevarul, the clear market leader (as it bloody well should be, given the money that’s been thrown at it in promotions and marketing) [...]

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Just Fancy That!

by Craig Turp June 4, 2009 Business

 What you can read about ING bank on the front page of HotNews.ro right now… And what you can’t… UPDATE: Hot News has added the ‘ING to close operations in 10 countries’ story to its front page, but you have to scroll a long way down to see it. —

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Just Fancy That!

by Craig Turp March 12, 2009 Business

 “The last thing Romania will do is take a loan from the International Monetary Fund (IMF). We can finance the budget deficit with money set aside by the European Union for non-euro countries.” Romanian President Traian Basescu, January 16, 2009 “We are taking a loan from the IMF because we have no idea how the [...]

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