Hungarian-government-linked telco 4iG and Telecom Egypt will jointly construct an express subsea cable between Albania and Egypt. Telecom Egypt is a major subsea cable operator, and last October signed a Memorandum of Understanding (MOU) with 4iG. The cable will serve as a high-capacity, intercontinental connection linking Africa and Asia to
Germany’s business with Central and Eastern Europe (CEE) fell last year as the value of goods traded with the region’s 29 countries reduced by 6.5%, the Committee on Eastern European Economic Relations (CEEER) said on Wednesday, 7 February. German imports from CEE and Central Asia fell 9.
Ukraine is planned to be added to the Trans-European TEN-T transport corridor, enabling access to the rest of Europe for trains from Lviv, west Ukraine. The Mediterranean Corridor will be the only TEN-T line that completely links western and eastern Europe, starting from the southern coast of Spain, through Almeria,
The expansion plan of the new ammunition plant of Rheinmetall in Varpalota, west Hungary, has been underway since January, the German automotive and arms manufacturer has revealed. The extension will increase the size of the plant by 20 hectares to some 120 hectares and payroll to around 200 employees. The
German defence industry group Rheinmetall has acquired a 72.5% stake in Automecanica Medias from Romania, estimating that it will have an annual sales potential of up to EUR 300mn. The rest of the company’s shares will remain in private ownership. The contract still requires approval from the relevant
Polish farmers from Solidarity announced Friday that the trade union is planning a blockade of the country’s border crossings with Ukraine from Friday, 9 February, joining similar protests in Germany, France, Greece, Belgium, Ireland and Portugal. Farmers say they oppose rising costs, EU climate change measures, and “unfair competition
Business groups from Czechia and Taiwan signed a memorandum of understanding (MOU) on semiconductor cooperation in Taipei on Thursday, 1 February. At a seminar on semiconductor investments in Czechia, Taiwan semiconductor material supplier TOPOC Scientific Co and TeaLa signed the MOU with the Czech National Semiconductor Cluster (CNSC). TeaLa and
Hungarian Prime Minister Viktor Orban agreed to a EUR 50bn, 4-year package for Ukraine on Thursday, 1 February, after vowing to block the funds since December. The package is designed to financially keep afloat Ukraine’s hospitals and schools, as well as civil servants’ wages and pensions. Oban was reportedly
Romania has economically surpassed Greece, Hungary and is closing in on Poland, Romanian Economy Minister Stefan Radu Oprea underlined in a summary of his speech at an “Anti-RO-exit” event, against “extremist voices” who advocate for Romania leaving the EU. In a post that poses the question: “What would Romania’s
Hungarian Prime Minister Viktor Orban has asked his MPs to proceed with Sweden’s ratification as NATO member “at the first possible opportunity” in a climbdown from the delay tactics seen since the Scandinavian country officially asked to join the defence alliance in May 2022. Orban earlier pledged that Hungary
Foreign workers are increasingly replacing Hungarians across various sectors due to structural issues within the country’s economy. Government backing of lower-wage sectors such as auto and battery production, has forced highly skilled Hungarians abroad, and foreign workers are filling the void, local media wrote. Hungarian Prime Minister Viktor Orban’
Tractors and logging lorries flooded central Vilnius last week, as farmers protested a number of national agricultural policies. Local media reported the protesters’ six demands; including stopping the transit of Russian grain through Lithuania, which they claim is pushing down export prices. Another demand is the government waiving an EU
The number of battery-only electric passenger cars in the EU neared 3mn in 2022, up 55% from 1.9mn in 2021, according to the EU’s official statistics office Eurostat. In Central and Eastern Europe (CEE), Austria has the highest ratio of cars under two years of age, with 13%
More than 42,000 electric cars have been registered, so far, in Romania, of which around 16,800 only in 2023, 35% more than in 2022, according to research published Thursday. Researcher Lektri.Co was established in Timisoara in 2018, and operates 20 charging stations are present in Romania, Serbia,
From Hungary’s economic perspective, last year extended the trends observed in 2022, according to independent Hungarian think-tank Policy Solutions’s annual report. In Central and Eastern Europe, and Hungary in particular, inflation emerged as a paramount economic concern. In Hungary, inflation was of a scale unseen since the 1990s.