Czechia is poised to start a massive construction of solar and wind power plants to secure cheap and ecological electricity supply, Environment Minister Petr Hladik (KDU-CSL) told members of the press on Thursday. “We have the resources for this: it is possible and realistic,” Hladik said, as he unveiled a
Poland outstretched all of its EU peers for growth in the first quarter of 2023, the bloc’s official statistics office Eurostat reported in its revised data. In Central and Eastern Europe (CEE) – and Europe as a whole – Poland had the highest growth rate of 3.8%, ahead of Croatia
A massive mobilisation of Polish opposition voters and leaders estimated at up to half a million people took to the streets of Warsaw to protest the country’s nationalist government on Sunday, 4 June, Gazeta Wyborcza reported. Poland’s ruling Law and Justice party (PiS) party is currently seven percentage
The EU’s official statistics office Eurostat details the effects of the bloc’s sanctions and trade restrictions regarding Russia in the wake of its invasion of Ukraine on February 24, 2022, in its latest report. Eurostat notes that exports and imports both remain below pre-invasion levels. In terms of
Hungarian investment holding Oriens is fast becoming a major player in Czech retail, Slovak business daily Hospodarske Noviny (HN) reports. Oriens has private equity investments in Czechia, Hungary and Slovakia. Having fully acquired Flosman in 2021, it now plans to take over the shops of peer Pramen CZ. The Pramen
European Commission President Ursula von der Leyen called Moldova “the political heart of Europe”, when she met Moldovan President Maia Sandu in the capital city of Chisinau at the second Summit of the European Political Community on Wednesday 31st May. Von der Leyen thanked Moldova for showing “solidarity, which you
Leaders in Central and Eastern Europe (CEE) congratulated Turkish President Recep Tayyip Erdogan after his re-election on Sunday, 28 May, after a tough election campaign that posed a significant challenge to his two-decade-long rule. Having sealed another five years in power, Erdogan holds a position of considerable influence in regional
Only 4.48 million EU citizens aged 15 to 29 found themselves unemployed last year, according to the latest data from the EU’s official statistics agency Eurostat. This constituted 6.3% of those in that age group, a historic low since 2009, it added. The lowest rate in Central
“Romania, and Europe, have lost the battle with China in certain segments, such as battery production, but we are trying to recover this gap,” Romanian Economy Minister Florin Spataru said on Thursday 25 May, state news agency Agerpres reported. “How do we manage to have a balanced approach in the
Having committed to becoming the first climate-neutral continent by 2050, the EU faces a major challenge and companies will have to play a part in this, Slovak business daily Hospodarske Noviny (HN) wrote in a wide-ranging article on the implications of environmental, social, governance (ESG) goals. The bloc’s ESG
Electric and hybrid cars are gaining ground in Romania, as the segment represented over 20% of all new cars sold in the country in the first four months of 2023, digi24.ro reports, citing data from the Association of Automobile Manufacturers and Importers (APIA). Sales of electric cars have consequently
The Polish automotive industry grew by over 21.5% last year to hit an all-time high of EUR 39.7bn, Gazeta Wyborcza reported, citing analytics company AutomotiveSuppliers.pl. This is not only the result of an improved economy, but also inflation, the Polish daily wrote. The automotive industry remains a
Hungary has vetoed EUR 500mn worth of arms funding from the EU to Ukraine, Italian media first reported on Monday, which the government spokesperson’s office then confirmed. The funding would be the eighth transfer from the European Peace Framework (EPF) to finance arms shipments to the country since Russia
Former Slovak Central Bank (NBS) deputy governor Ludovit Odor was sworn in as the country’s interim prime minister this week. Odor’s appointment ended six months of political limbo, and he is expected to lead his 15-member caretaker cabinet until national elections are held on 30 September. Watershed moment
Romanian President Klaus Iohannis promulgated the revised law that lays down a “solidarity contribution” from the “excessive profits” of energy companies, on Friday 12 May. The new provisions were much softened compared to the initial version, which was deemed “unconstitutional” by a furious OMV Petrom, the Romanian integrated oil company
Sharply falling energy prices are good news for the population and almost all market segments and the population alike, but large energy companies can be less happy, Hungarian business website Portfolio reported. The explains the price falls as due to an “exceptionally mild” winter and European’s successful decoupling from
The Czech government announced “Czechia in Shape”, a new tax package to reduce the state budget deficit on Thursday 11 May. The package, designed to cut debt by CZK 94bn (EUR 4bn) in 2024 and CZK 150bn in 2025, includes a range of measures such as raising the pension age
Poland’s state-controlled oil company, PKN Orlen, is facing significant losses due to the EU banning Russian crude oil. The company is struggling to find alternative supplies for its Czech refinery and is losing millions of dollars every day, Polish daily Gazeta Wyborcza reports. PKN Orlen CEO Daniel Obajtek told
The Council of the European Union will send another EUR 1bn in support for ammunition and missiles for Ukraine as it increases the financial ceiling of its European Peace Facility (EPF) to EUR 7.98bn, it announced Friday, 5 May. The assistance under the EPF will further contribute to strengthening
The purchasing power of salaries in Hungary is falling due to record-high inflation, local business outlet Portfolio reported, citing the “devastating picture of consumption” in recent data from the Hungarian Statistics Office (KSH). At the beginning of 2023, the purchasing power of earnings fell 7-8% in Hungary, after wage increases
The European Commission (EC) will propose a law to speed up weapons production in Europe, EC President Ursula von der Leyen said after a meeting with Czech President Petr Pavel in Prague on Tuesday, 2 May, Czech daily Hospodarske noviny (HN) reported. She said in a statement: “I am glad
Poland has signed with the UK a GBP 1.9bn export agreement to roll out a British short-range air defence system, the latter government announced on Friday, 28 April. According to the agreement, the UK will equip Poland with 22 air defence batteries with UK Common Anti-Air Modular Missiles (CAMMs)
Estonia had the highest employment rate in Central and Eastern Europe (CEE) of 81.9% in 2022, according to the recently released data of the EU statistics agency Eurostat. Just behind the Baltic country were Czechia, with 81.3%, and Hungary (80.2%). The middle grouping of the EU member
“There will be more and more renewable energy in Poland and other European countries,” E.ON Polska president Andrzej Modzelewski said in an interview with Gazeta Wyborcza published on Saturday, 29 April. The energy company executive told the Polish daily that “at E.ON, unlike at other operators, we are
Agriculture Minister Zdenek Nekula is right when he says Czech farmers are overplaying the role of Ukrainian wheat on their current travails, according to analysts cited by Czech business daily Hospodarsk Noviny (HN). In contrast to Poland, Slovakia, Bulgaria and Hungary, Czechia has rejected the idea of banning imports from