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2020-04-02  06:38
CIJ Romania
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Company News

Ideal Projects Services buys three office...

Ideal Projects Services has acquired three office buildings in Cluj-Napoca for €30m, according to profit.ro. The sellers were local entrepreneurs Raul Ciurtin and Florin Maris. The transaction, among the 10 biggest announced on the Romanian real estate market in 2019, included Vivido Business Center, Advancity Business Center and Cube Office. The tenant mix features several multinatio...
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2020-04-01  13:22
CIJ Serbia
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Economy

Renar: Let construction support the economy

The construction industry could help prop up the Slovenian economy, says the director of the Construction Chamber at the Slovenian Chamber of Commerce. Joze Renar called on public officials to work with the private sector to allow construction work to move forward in Slovenia wherever possible. He claims that if proper safety measures are respected for workers, the ability to allow ...
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2020-04-01  12:37
CIJEurope.com
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Economy

Real income rose 5.6% for Czechs in 2019

Czechs enjoyed real income growth of 5.6 percent in 2019, the fastest pace over the course of a year in two decades. Accordingly, the increased wealth led to a rise of 3.4 percent in consumption. The Czech Statistics Office (CSU) writes that companies spent 6.5 percent more on labor costs overall, though this didn't hurt the profit levels across the board. "The profitability...
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2020-04-01  12:32
CIJEurope.com
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Company News

Online retail pain confirmed by Zalando losses

The German online fashion giant Zalando made an operating loss that will exceed the expected €28m for the first quarter of 2020 and the company admitted that its original forecast for 2020 could no longer be relied upon. It probably goes without saying that it failed to meet the 19 percent growth in sales that it had predicted. The company's announcement demonstrates it's no...
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2020-04-01  12:22
CIJEurope.com
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Company News

3-stripe cheapskates: Adidas refuses to pay...

In an effort to prevent the collapse of its retail network, Germany came up with new legislation that enables stores to defer rent payments for the month of April. Adidas has decided to test whether the rules apply to everyone by announcing that it would not pay rent in its German stores, nor would it pay the rent later. The footwear giant, which critics point out has billions sitting...
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2020-04-01  12:04
CIJEurope.com
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Economy

MKIK unveils measures to fight economic...

The Hungarian Chamber of Industry and Commerce (MKIK) has suggested a number of measures the government can introduce to help the economy recover from the coronavirus. MKIK is proposing the government use grant money and credit to be repaid in 2021 or 2022 to preserve jobs and manage unemployment. It is also suggesting that the small business tax be lowered from 12 percent to 9 percen...
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2020-04-01  11:53
CIJ Serbia
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Economy

Montenegrin banks are prohibited from...

The Council of the Central Bank of Montenegro has proposed banning banks from paying out dividends to their shareholders. The move is part of a wider series of temporary measures designed to mitigate the negative effects of the new virus corona on the country's financial system. While no dividends can be paid, payments in the form of shares in the bank would still be acceptable, ...
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2020-04-01  11:51
CIJEurope.com
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Economy

Panic buying finished in empty Bratislava

Shopping fever is over in Bratislava. When they go outside, residents of Bratislava are heading for the parks or to walk along the river with facemasks donned. But the panic buying of just a couple weeks ago is over and the streets are virtually empty. Lidove noviny writes that the endless traffic jams that have accompanied the city's rapid development have disappeared as if by m...
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2020-04-01  11:51
CIJ Serbia
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Economy

Pandemic could hit Slovenia harder than...

Slovenia's gross domestic product (GDP) could fall anywhere between 6 percent and 16 percent in 2020, warns the country's central bank. It wrote that this would make the potential impact of the coronavirus pandemic significantly worse than for the country than the 2008 global financial crisis. Slovenia's GDP dropped 8 percent a decade ago due to its high dependence on e...
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2020-04-01  11:50
CIJ Serbia
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Economy

Serbian PM proposes €5.1bn aid package

Serbia's Finance Minister Sinisa Mali has unveiled a €5.1bn financial aid package to support the country's economy and try to maintain employment. He divided the package into a series of measures targeting tax relief, direct subsidies, liquidity support and direct cash payments to citizens. In addition to allowing companies to defer tax payments currently owed and to pay the...
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