The Competition Council authorized the transaction by which the Otto Group, through the companies EOS Credit Funding DAC and EOS Finance IFN S.A., intends to take over a portfolio of performing and non-performing loans from BRD Finance IFN S.A. The receivables portfolio includes all receivables resulting from all loan contracts concluded by BRD Finance IFN S.A. with his customers. BRD Finance IFN S.A., present on the market since 2004, has in its portfolio loans for the purchase of goods, credit cards, car loans and loans for personal needs. EOS Finance and EOS Credit are part of the EOS Group, an international provider of personalized financial services. The main activity of the company is represented by the acquisition of secured and unsecured debt portfolios. The EOS Group, in turn, is part of the Otto Group, a global group of providers of e-commerce, retail and related services. Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment. The decision will be published on the website of the national competition authority, after the removal of confidential information.
Romania was formally designated the 43rd country to join the US Visa Waiver Program (VWP) on Friday, January 10. According to the Romanian ambassador to Washington, Andrei Muraru, Romanian citizens will be able to travel to the US without the need for a visa starting March 31, 2025. "Romania becomes the first country in the […]
Cluj-Napoca, the city in Romania with some of the highest rents and a fast-growing IT industry, is closer to banning smoking in playgrounds and parks after mayor Emil Boc expressed his support for the measure. The mayor cited the prioritization of public health as the reason behind such a ban. He mentioned that he has […]
Romania's Sibiu County Emergency Clinical Hospital will receive a robotic system to prepare cytostatic drugs needed by cancer patients, along with other equipment, after the County Council obtained funds from the European Regional Development Fund. With an estimated value of EUR 1 million, the "Robotic Composition System for Sterile Preparations of Cytostatic Drugs" is among […]
Romania’s government adopted in its January 10 meeting a decision granting an extra day off to public sector employees at the beginning of May. Thus, Friday, May 2, will be an official day off for public sector workers, linking the legal holiday of May 1 (Labor Day) with the weekend (May 3-4). This...
The Ministry of Environment announced that 2024 was the hottest year in the history of Romania's meteorological records. Red alerts for heat waves began in June of 2024, with the longest consecutive periods of persistent and intense heat waves, six consecutive days, between July 13-18 and August 15-20. "The year 2024 is the hottest year...
Supporters of former presidential candidate Călin Georgescu gathered outside the Parliament Palace in Bucharest, which houses the Constitutional Court, on January 10, demanding a rerun of the second round of the presidential elections. The protest, dubbed "The Great Judicial Union," was initiated by Georgescu, who called on his supporters to challenge the election annulment, as […]
