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Economy

Greece’s Competition Commission fines French, US Cosmetics firms for “distorting competition”

Greece’s state competition watchdog has fined six prominent cosmetics firms, including Estee Lauder, L’Oreal and Christian Dior, some €19 million (SR83.98 million) for distorting competition. The Hellenic Competition Commission said Wednesday it had found “anti-competitive agreements between wholesalers of luxury cosmetics” aimed at fixing retail prices. According to AFP, Estee …

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Former ATE Bank executives charged for loans without collateral and guarantees

Greece’s corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece (ATE) for approving loans over a 10-year period to construction company ATTIKAT as well as to a private citizen who did not meet the necessary requirements. The cost incurred by the …

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