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.
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,
Xella Romania, one of the leading players in the local construction materials market, announced the appointment of Petrișor Grindeanu as its new CEO. The transition also marks a new chapter for the company after 16 years of leadership under Marius Dragne. With over 25 years of experience in the construction materials industry and a vision […]
The sale of the San Sebastian painting by the Spanish artist El Greco, a work of art that was part of the collection of the Romanian Royal Crown, will remain blocked until the end of June, following legal debates between lawyers representing Romania and Christie's auction house, finance minister Barna Tanczos told Profit.ro. ...
Romanian athlete Andrei Rareș Toader secured the gold medal in the men's shot put event at the European Athletics Indoor Championships in Apeldoorn on Sunday, March 9. Toader achieved a personal best and set a new national record with a throw of 21.27 meters, surpassing his previous record of 21.21 meters set in Ostrava just […]
Smartree HRTech, a leading provider of integrated payroll and human resources software solutions, announced the appointment of Nicoleta Mihaiu as its new CEO. Mihaiu’s expertise and vision “will strengthen the management team and further solidify Smartree’s position as a market leader in payroll and HR software solutions,” the company said. “I am honored to join […]
