A new, ground-breaking European Defence Industrial Strategy (EDIS) has been announced by the European Commission (EC). The EC said EDIS “sets a clear, long-term vision to achieve defence industrial readiness in the EU (for) when they are needed and in the quantities that are needed.” The strategy includes new programmes
Czech photovoltaic distributor Raylyst Solar is the most rapidly growing company in Europe, according to the latest rankings by UK daily the Financial Times and German data platform Statista. Czech entrepreneur Jan Kamenicek founded Raylyst in 2018, and the company now delivers photovoltaic panels in Czechia, Germany, Slovakia, Italy and
The rating for Romania’s long-term foreign currency debts is BBB- with a stable outlook, Fitch announced. According to the rating agency, the rating is due to Romania’s EU membership and associated capital inflows to support revenue convergence, external finances and macroeconomic stability. GDP per capita and human development
The indispensability of nuclear energy was one of few areas of consensus at the recent summit of the strained Visegrad Four (Poland, Czechia, Hungary and Slovakia) in Prague on Tuesday, 27 February. Over two years since Russia’s full-scale invasion of Ukraine, more and more countries in Central and Eastern
Hungarian MPs approved a proposal on ratifying Sweden’s accession to NATO with 188 in favour and 6 dissenting votes, on Monday, 26 February. Hungary was the last member of the defence alliance to vote through Sweden’s membership. NATO Secretary General Jens Stoltenberg tweeted “I welcome the Hungarian parliament’
The prime ministers of the Visegrad Four (V4) countries met in Prague, Czechia, for the first time in eight months, on Tuesday, 27 February. Created back in 1991, the V4 comprises around 65mn EU citizens, but for the last two years differences of opinion about Russia’s invasion of Ukraine
Hungarian Prime Minister Viktor Orban, in damage limitation mode after recent scandals and mass anti-government protests in Budapest, has proposed that Constitutional Court President Tamas Sulyok succeed Katalin Novak as head of state. Caucus leader for Orban’s Fidesz party Mate Kocsis said Thursday that the Hungarian premier had personally
As of next week Poland can begin to access the around EUR 60bn of previously suspended COVID:19 pandemic and green funding and some EUR 76.5bn from EU cohesion funds, European Commission (EC) President Ursula von der Leyen announced after meeting Polish Prime Minister Donald Tusk in Warsaw on
The Russian Justice Ministry on Tuesday, 20 February, named Radio Free Europe (RFE) as an “undesirable” organisation, effectively banning the US Congress-funded broadcaster from operating in Russia. Other media organisations pronounced as “undesirable” by Russia in recent years include Meduza, Novaya Gazeta Europe and Bellingcat. Anyone working for these organisations
Prime Minister of the Netherlands Mark Rutte is reportedly likely to succeed NATO Secretary General Jens Stoltenberg in October, as the US on Wednesday 21 February joined the group of two-thirds of member countries who back his nomination. Although US President Joe Biden has not publicly backed Rutte, one of
Tens of thousands of protesters rallied against the presidential pardon scandal in Budapest on Friday evening. The catalyst for the protests is what the BBC described as “the biggest threat to (Hungarian) Prime Minister Viktor Orban’s rule since he returned to power in 2010”. Papal visit prompted controversial pardon
Blue Air’s restructuring plan has failed to restore its long-term viability and the Romanian state must return the EUR 33.84mn it gave to the Romanian airline during the pandemic, as it was incompatible with EU state aid rules, the European Commission (EC) announced. Romania bailed out struggling airline
Poland will drop the USD 1.3tn (EUR 12.08) reparation demand made by the right-wing nationalist PiS government, which Polish Prime Minister Donald Tusk’s centre-left coalition toppled late last year. The country will instead seek compensation in areas such as mutual defence and revamping historic buildings, Polish Foreign
EU candidate country North Macedonia will hold early parliamentary elections on 8 May, the House speaker Jovan Mitreski announced on Wednesday, 14 February. The first round of the presidential election will be on April 24 while the second will be on the same day as the parliamentary ballot. After pressure
An Estonian intelligence report released Tuesday warns that Russia is preparing to wage war on the West for a decade, as the Kremlin announced that Estonian Prime Minister Kaja Kallas has been added to the country’s wanted list due to the “destruction” of monuments to Soviet soldiers. Estonian State
Hungarian President Katalin Novak resigned on live TV on Saturday evening, in connection with her controversial pardon issued last year for a man convicted of covering up child sexual abuse. When Pope Francis I visited Hungary last April, Novak gave clemency to the deputy director of a state-run children’s
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