Archive » April 2009 » 09 April 2009 The english news from 09 April 2009
Demand for mortgages down 50%
The demand for mortgages dropped by more than 50 percent in the first quarter of 2009, compared to mid-2008, and lenders are giving the go-ahead for an even smaller percentage. While mortgage growth exceeded an annual 60 percent in 2008, new loans are no longer covering for monthly reimbursements…
Moody's: Romania will register a difficult economic recession
Moody's anticipates Romania will register a difficult economic recession, but it considers that it should avoid the collapse thanks to the relatively low debt of the private sector and the reduced dependence on foreign trade. "There is extensive proof that the economy slows down quickly now. The sectors directed towards export cut their production while the industry of constructions goes ever worse"…
Romania Cuts Almost 3,000 Jobs This Week
Romania will scrap over 24,125 jobs between April and October, almost 3,000 more than last week, the National Employment Agency ANOFM stated Wednesday. The bulk of layoffs will be operated in Bucharest (3,334), and in the counties of Prahova (1,599), Timis (1,468), Arges (1,399), Brasov (1,106), Cluj (1,070), Alba (999), Dambovita (986), Bacau (983) and Arad (901)…
Insurer Omniasig VIG to take over portfolio of Clal Romania after sale triggered by the crisis
The Israel-based group Clal wrapped up the sale of its insurance business in Romania, inking a 500,000 euro contract with several businessmen and announced the active insurance portfolio will be taken over by insurer Omniasig VIG. The tough economic context made the Israeli company give up supporting its Romanian branch which still needed a lot of investments, a release from Clal reads…