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.
Elon Musk's mother, Maye Musk, re-shared a post about the Craiova Christmas Market on X on Monday, December 1. She described the event as "beautiful" and included three emojis in her caption. The original post highlighted that the Craiova Christmas Market was taking place in a safe environment. "No concrete barriers. No armed guards. No […]
Real estate developer Globalworth has begun construction on Green Court D, the fourth building in its Green Court office complex in Bucharest’s Aurel Vlaicu area. Scheduled for completion in 2027, the project is now in its preliminary phase, which includes enclosure works and excavation for the basement structure, the company said. The new building will […]
Romania’s National Committee for Emergency Situations decided to distribute drinking water from the state reserves to 13 localities in the counties of Prahova and Dâmboviţa. The area was severely impacted by a drop in water levels at the Paltinu Dam, leading to problems in the water distribution system and affecting over 100,000 people, local hospitals, […]
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
