Household consumption expenditure decreased by an unprecedented 8% in the EU year-on-year in 2020, according to a new survey by the official EU statistics agency Eurostat. However as the EU-27 registered falls in household expenditure, only four countries in Central and Eastern Europe (CEE) were below the EU average 8%
Wholesale electricity prices reached all-time highs in Europe in the third quarter of 2021, spiking by 211% year-on-year, the European Commission (EC) reports. In Poland, Romania, Czechia, Hungary, Slovakia and Slovenia, average monthly prices for baseload power – the permanent minimum load that a power supply system is required to deliver
Hungarian Prime Minister Viktor Orban will visit Moscow on 1 February to discuss Rosatom’s expansion of Hungary’s sole nuclear power station in Paks,” his top diplomat revealed in an interview with Russian state news agency TASS. “We would like to see the two new reactors operational by the
MEPs voted through the Digital Services Act (DSA) in a plenary vote at the European Parliament on Thursday afternoon. The DSA could serve as a “new global golden standard for tech-regulation”, MEP Christel Schaldemose said. A key inclusion in the DSA was a ban on online advertisements targeting minors, as
The EU’s CO2 trading mechanism is a“roller-coaster” and fixed-price contracts would stabilise the situation and offer better conditions to electricity sellers, Estonia’s Prime Minister Kaja Kallas told Parliament on Tuesday. Soaring energy prices in the Baltic country have sparked debate inside the progressive Estonian governing coalition of
Price rises in Central and Eastern Europe (CEE) countries were mostly above the Eurozone average of 4.9% in November, as inflation surged at the highest rate for 25 years, according to the latest data of the Organisation for Economic Cooperation and Development (OECD). Lithuania had CEE’s highest year-on-year
The European Investment Bank (EIB) has suspended a EUR 200 million credit line towards the expansion of Hungary’s Budapest Liszt Ferenc International Airport over a failure to conduct any environmental impact assessments. The airport’s plan to extend the facility and increase passenger traffic by 50% over eight years
Serbia moved a small step closer to EU membership on Sunday when 60.5% of its voters cast their ballot in favour of changes to the judicial system in a referendum. President Aleksandar Vucic said the result represented “de facto progress on the rule of law, a theme which is
Universities in Poland, Austria, Czechia, Slovenia and Lithuania will all run projects under the EU’s new research and innovation programme which selected recipients this week. The European Research Council (ERC) will award a total of EUR 619 million to young researchers. Poland will receive eight grants, Austria six, Czechia
The liberal-conservative cabinet of Czech Prime Minister Petr Fiala was approved by a majority of MPs in a confidence vote that is obligatory for all incoming governments on Thursday. In all, 106 lawmakers backed Fiala’s government, while 87 opposed. Czech governments face this customary vote within 30 days of
European commercial aviation enjoyed an upturn last month, as the number of flights in the EU climbed 130% year-on-year. While the number of commercial flights was 166,990 in December 2020, the industry saw numbers of 383,720 last month. Flight volumes were 24% below the pre-pandemic levels in December
Polish oil and gas firm PKN Orlen will sell refinery assets to Saudi Aramco and swap petrol stations with Hungarian energy company MOL to clear the way for a takeover of Grupa Lotos, it announced Wednesday. Saudi Aramco will pay USD 255 million for a 30% stake in Lotos’ refinery
The “Fit for 55” plan to further slash CO2 emissions may cost Poland around EUR 190 billion, according to analysts at the state-owned Polish bank Pekao. The EU’s original target had been to cut reduce greenhouse gas emissions by 40% by the end of the decade, compared to 1990
Taiwan will extend a USD 1 billion credit line to Lithuania as a gesture of solidarity with the Baltic country, and to help to offset the trade embargo that China has imposed on it. The fund aims to develop Lithuania’s biotech, finance, semiconductor and satellite industries. “We recognise and
Hungary will hold an election on April 3 when nationalist Prime Minister Viktor Orban will compete with an opposition alliance fronted by a conservative outsider, Hungarian President Janos Ader announced Tuesday afternoon. While some of Orban’s policies since he won an election landslide in 2010 have been popular, most