Stock exchange opens in Bucharest

Romania's first stock exchange since World War II opened on November 20 in Bucharest, Radio Bucharest and international agencies reported. A total of seven companies were quoted at the opening session, with five more due to appear in the near future, exchange officials said. Of the seven listed companies, only one is completely in private hands; the Romanian state still holds a 7 percent stake in the other six. The opening of a stock exchange was one of the conditions set by IMF for the granting of new credits to Romania. Initially, it will operate only once a week.

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