Taiwan will set up a USD 200 million investment fund for Lithuania to offset economic pressure from China, it announced Thursday. Taiwan’s Deputy Foreign Minister Tseng Wen-Sheng said “Taiwan & Lithuania are like-minded partners bound by an unshakeable belief in freedom and democracy. We’ll overcome China‘s threat
In our second deep dive into the Baltic tech business scene, CET looks at startups that take physical health and psychological well-being equally seriously, especially in the wake of the global pandemic outbreak in 2020. Finding a niche Modern health startups are increasingly tailor-made for different audiences and groups. While
Aspirant EU-member Moldova could receive EUR 150 million from the bloc after the European Commission approved funding on Tuesday. The EU will extend EUR 30 million in grants and EUR 120 million in preferential loans over the next two years if the Chisinau government fulfils commitments to improve governance and
In our first deep dive into the innovative Baltic startup scene, we look at companies with new approaches to recycling, reforestation, oil disposal and even nuclear energy . Fighting deforestation with satellites Estonia’s Single.Earth was founded two years ago based on a belief that it is possible to save
EU High Representative Josep Borrell said the European Union will act decisively if Russia commits further acts of aggression against Ukraine, ahead of a two-day visit to the Eastern European country on Tuesday. Tensions are high between Ukraine and Russia, which has amassed around 100,000 troops on Ukraine’s
This week The Central European Times investigates the startup scenes of the three innovative but diminutive Baltic countries Estonia, Latvia and Lithuania, whose small size makes companies open and internationally oriented from day one. Read our exclusive reports on environmental startups in the Baltics here, healthtech startups here and cutting-edge
The European Commission (EC) is considering classifying investments in nuclear and natural gas as sustainable under its new “green taxonomy” regulations , it said in a statement on 1 January. Brussels aims to cut Europe’s carbon emissions to zero by 2050. While green stock and bond portfolios do not currently
Hungarian Family Minister Katalin Novak accepted ruling Fidesz’s nomination for her to become president of Hungary on Tuesday. Novak, 44, tweeted “To represent Hungary, to serve the whole Hungarian nation – I am preparing for this challenging task with faith, spirit and heart. I respectfully accept the nomination as President
Central and Eastern Europe’s premier budget air carrier appears to have initiated a significant pull-back in terms of where it flies. Based in Budapest, Wizz Air has cut flight service to 84 destinations, with Western Europe seeing most of the reductions. The airline has confirmed to Simple Flying that
The so-called ‘Open Balkans’ initiative to ease movement, travel and trade restrictions between Albania, North Macedonia and Serbia has taken a big leap forward. Leaders from all three countries – Albanian Prime Minister Edi Rama, Macedonian Prime Minister Zoran Zaev and Serbian President Aleksandar Vucic, – met today in Albania, signing six
Polish MPs have voted through a bill restricting non-EU ownership of media outlets that would force US conglomerate Discovery to sell off its interests in the country, including liberal news channel TVN24. The ‘lex TVN’ would strike a further blow against independent news media in Poland, where ruling PiS party
The European Commission (EC) granted conditional marketing authorisation (CMA) for the Nuvaxovid jab on Monday after it was greenlit by the European Medicines Agency. The US-developed vaccine joins Pfizer/BioNTech, Moderna, AstraZeneca, and Johnson & Johnson on the list of EU-approved jabs. “This is our first protein-based vaccine”, Stella Kyriakides,
Construction of the Mateševo-Smokovac section of Montenegro’s 41-kilometre long Bar-Boljare highway is set to be finished in January 2022. Now, how the country’s largest-ever infrastructure project, built and financed by Chinese interests, will be paid for remains in question. Not only has Montenegro’s largest-ever infrastructure project gone
Bulgaria had a 32.9% increase in agricultural labour productivity (ALP) in 2021, the highest rise registered in Europe, according to new agriculture data published by Eurostat. ALP is the net-value added by agricultural goods and services by the equivalent of a full-time worker, presented in real terms adjusted for
China is allegedly pressuring Continental AG to stop using components made at the German car parts manufacturer’s subsidiary in Lithuania in retaliation for the Baltic country allowing Taiwan to open a de facto embassy in its capital Vilnius, Reuters reports. Continental AG, one of the world’s largest car
The Balkans region of south-east Europe has attracted at least 135 China-linked projects worth at least EUR 32 billion in the last decade, according to a new report by the Balkan Investigative Reporting Network BIRN. In a wide-ranging investigation entitled “China in the Balkans: Controversy and Cost”, the outlet found
The EU is rewriting its energy infrastructure investment rules to fully align them with its Green Deal programme. The three main arms of the EU – the European Council, European Parliament and European Commission – have revised the “TEN-E” framework and are set to agree on the removal of funding of oil
French President Emmanuel Macron underlined that energy policy is now a major priority for Europe when he met the leaders of the Visegrad Four countries – Poland, Czechia, Hungary and Slovakia – in Budapest this week. Hungarian Prime Minister Viktor Orban agreed that securing Europe’s energy independence is one of the
EU lawmakers overwhelmingly adopted a position in favour of the Digital Markets Act on Wednesday, which would put constraints on “gatekeeper” tech companies such as US tech giants Amazon, Apple, Facebook, Google and Microsoft. MEPs voted 642 in favour and 8 against, with 46 abstentions. Under the new rules big
Moldovan President Maia Sandu said in no uncertain terms that her country will pursue EU accession ahead of today’s Eastern Partnership summit. “We will insist that it is our choice and we would like other countries to respect that choice,” Sandu told Reuters. Moscow is fully aware of this
“I am convinced that Bulgaria will be a totally different place four years from now,” Kiril Petkov pledged on Monday, when he was sworn in as prime minister. Petkov, who served as minister of economics in the recent caretaker government and then ran on a “zero tolerance for corruption” election
Slovakia has by far the lowest wealth inequality in Central and Eastern Europe (CEE), with a Gini score of 50.3, the Global Wealth Report 2021 published by the Credit Suisse Research Institute reveals. Slovakia even ranks as having the lowest wealth inequality in Europe
Hungary is not likely to gain access to EU pandemic recovery funds before elections take place next spring, said French President Emmanuel Macron, who paid a visit to Budapest on Monday. Macron said the EU would not send any stimulus fund payments to Hungary because the country is not showing
Dimitar Kovachevski is set to become North Macedonia’s next prime minister after the ruling SDSM party voted him as its new leader on Sunday. The 47-year old economist and deputy finance minister defeated two other contenders for the post. Kovachevski will soon also replace his ally Zoran Zaev as
Germany will not allow the commencement of the operation of the Nord Stream 2 (NSII) gas pipeline if Russia steps up aggression towards Ukraine, Germany’s new Foreign Minister Annalena Baerbock said on Sunday. The Greens party politician explained that Berlin’s stance on the pipeline, which Russian state-owned energy