The representatives of the Competition Council carried out unannounced inspections at the headquarters of several commercial banks on Tuesday, suspecting that the financial institutions colluded with each other to set loan interest rates, official sources told Hotnews. Also according to Profit.ro, the inspectors of the Competition Council descended, on Tuesday, on the offices of the commercial banks in the country, they being suspected of cartel-type agreement in connection with reports in the Credit Bureau. The control, carried out until late Tuesday evening, was aimed at gathering evidence to prove the anti-competitive agreement, with bankers’ computers, e-mails and telephones being checked. Last year, in November, the competition institution carried out unannounced inspections at 10 banks, suspected of having formed a cartel to establish the ROBOR index, according to which part of Romanians’ loans are calculated. Unannounced inspections are authorized by the Bucharest Court of Appeal. Inspectors thus aim to obtain information and documents necessary to clarify whether or not an anti-competitive practice exists. Unannounced inspections are an important step in the investigation procedures of possible anti-competitive behavior, but do not represent a pre-judgment regarding the companies’ guilt. If the Competition Council finds a violation of the competition rules, the companies involved risk fines of up to 10% of the turnover. Companies that cooperate with the competition authority under the leniency program can obtain immunity from the fine or substantial reductions of it.
Rallies meant to show Romanians’ support for EU membership will take place on March 15 in Bucharest and several other cities. The rallies, held under the name Euromanifest, are not associated with any party or candidate. Instead, they are the result of a civic initiative organized by people who believe in democracy, freedom of expression, […]
IBM announced the opening of a new Innovation Lab in Bucharest in collaboration with Amazon Web Services (AWS). Located at the IBM Client Innovation Centre, the lab is set to serve clients from 22 countries, offering hands-on access to cutting-edge technologies, including agentic AI and generative AI solutions built using Amazon...
Hanul lui Manuc, Carul cu Bere, Curtea Berarilor, and Arcade Cafe, all very well-known restaurants located in Bucharest’s central and touristic Old Town, were temporarily closed by inspectors from the National Authority for Consumer Protection (ANPC). Inspectors found multiple violations, including improper food storage, unsanitary kitchen utensils, and frozen food with ice deposits. Fines totaling […]
Crin Antonescu, the candidate backed by the Romanian coalition made up of the Social Democrats (PSD), Liberals (PNL), and the Hungarians Alliance (UDMR), said he is “unwavering” after submitting his candidacy file for the presidential elections on Sunday, March 9. Antonescu promised he would unite and strengthen the nation in front of supporters and critics, […]
Romania’s National Meteorological Administration (ANM) announced that a mass of air containing Saharan dust will reach Romania starting on Tuesday morning, March 11. Between March 9 and 13, the southwesterly air circulation will favor the advance of an air mass loaded with dust particles of Saharan origin from North Africa towards southeastern Europe and over […]
Romanian mountaineer and guide Teofil Vlad has successfully climbed the highest peaks on all seven continents, completing the prestigious Seven Summits challenge. His final ascent took place on March 7, when he reached the summit of Carstensz Pyramid in West Papua, Indonesia, marking the completion of a journey that began more than 20 years ago,
