The Spanish government has vetoed Hungarian consortium Ganz-MaVag’s attempt to purchase Spanish train manufacturer Talgo, citing national security concerns, local media reported. Ganz-Mavag, which includes Hungary’s state fund Corvinus, made a EUR 619mn public tender offer for the maker of the iconic Alta Velocidad Espanola (AVE) high-speed trains
The new Polish deposit container-deposit system will launch in the autumn and be operated by eight enterprises, not six as earlier reported, although only three are currently licenced. The Polish Ministry of Climate and Environment said it will increase inspections in the lead up to the systems going operational in
As the EU assesses its defence strategies amidst escalating geopolitical tensions, South Korea has emerged as a significant player in the Central and Eastern Europe (CEE) defence market. Korea makes strategic defence exports to CEE South Korea’s defence industry has gained notable traction in CEE, where countries are upping
Romanian Prime Minister Marcel Ciolacu has requested that his country’s upcoming European Commissioner focuses on economic policies, following a meeting with European Commission (EC) President Ursula von der Leyen in Brussels on Thursday. “I want a portfolio that is highly relevant, given that we are the sixth largest country
Indian Prime Minister Narendra Modi discussed collaborations on AI and startups with Poland during his recent tour of Central and Eastern Europe (CEE). Modi’s visits to Poland and Ukraine, occurring just weeks after a contentious meeting with Russian President Vladimir Putin in Moscow, highlight India’s attempt to maintain
Hungary is rushing to safeguard its energy security following Ukraine’s sanctions on Russian oil company Lukoil, and is in active discussions to guarantee alternative supply routes, according to the country’s top diplomat. Szijjarto concerned over energy supplies Despite protests from Budapest and Bratislava, the European Commission (EC) has
In total 6 of 17 countries from Central and Eastern Europe (CEE) made the top 50 for fastest internet speeds, with an average download speed of 76.58 Mbps, placing it the 4th global region. CEE’s top performers were Slovakia, Hungary, and Romania, with average speeds of 145.19
Transport was on the agenda when Lithuanian Prime Minister Ingrida Simonyte, Latvia Prime Minister Evika Silina, and Estonian Prime Minister Kristen Michal met in Klaipeda, west Lithuania, at the weekend. The Rail Baltica, a high-speed rail connection across the Baltic states, is encountering significant challenges and rising costs, drawing concern
Enlight Renewable Energy, a prominent player in the green energy sector, began production and sales at its EUR 43.29mn Tapolca solar project in west Hungary 60MW ahead of schedule on 31 July. The Tapolca project will meet the annual needs of about 30,000 Hungarian households, selling electricity at
The September 26, 2022 sabotage of the Nord Stream pipelines, a major European energy conduit running from Russia to Germany, remains shrouded in controversy and suspicion nearly two years after the explosions. Investigations have so far failed to definitively pinpoint the perpetrators, but recent reports have added a new complexity
As tens of thousands of Serbians rally in opposition to the contentious lithium mining project planned by company Rio Tinto in Jadar, west Serbia, an alternative is being investigated elsewhere in Central and Eastern Europe (CEE). A crucial material for enabling the EU to meet its 2030 climate goals may
Serbian police forcibly removed demonstrators from railway stations protesting the lithium mining project planned by company Rio Tinto, in the country’s capital Belgrade on Sunday August 11. President Aleksandar Vucic’s government last month authorised the British-Australian global mining group to establish Europe’s largest lithium mine – and reportedly
Adoption of zero-emission vehicles gaining traction in Central and Eastern Europe (CEE), according to Erste Group’s macroeconomic report for August 2024. The Austrian financial service provider’s analysis sees varied economic trajectories and fluctuating trade balances across CEE, as Slovenia reported a trade deficit of EUR 0.64bn in
Support for introducing the euro in Poland has decreased in the last year, pollster SW Research found, in a survey commissioned by the Economic Freedom Foundation. The proportion of Poles who back joining the eurozone in Poland “in the coming years” decreased year-on-year, from 34.9% in 2023 to 30.
Polish Prime Minister Donald Tusk advised caution to European politicians calling for Hungary’s expulsion from the Schengen area, as it could in turn lead to its departure from the EU, on Friday, 9 August. Schengen member Hungary’s unilateral easing last month of visa requirements for citizens of Russia
Central and Eastern Europe (CEE) could be closing in on an energy standoff as Hungary and Slovakia have threatened to restrict or even suspend electricity supplies to Ukraine in response to its recent decision to halt crude oil transits of Russian supplier Lukoil, Hungarian state news channel M1 reported on
The expansion and modernisation of the NATO air base in Constanta, south-east Romania, symbolises the country’s growing strategic importance to NATO and the US, regional expert Ronald H. Linden writes in an article entitled “Romania is America’s new indispensable ally in Eastern Europe” in US politics daily The
Kosovo President Vjosa Osmani was involved in an altercation that became a diplomatic incident in Skopje, North Macedonia, where airport security demanded she hand over her mobile phone for scanning, on Thursday, 1 August. The incident began after the Kosovar head of state refused to hand her mobile phone to
Polish growth private equity firm bValue has successfully raised EUR 90mn for its third fund, significantly boosting its investment capacity. Particularly keen on exploring investment opportunities in Romania, bValue has a strategic focus on software, IT services, and e-commerce, and plans to invest between EUR 5mn and 15mn per project.
Central and Eastern Europe (CEE) is making notable strides in the e-commerce arena, driven by increasing digital adoption and a burgeoning online market, according to a recent analysis by Polish IT solutions provider Exorigo Upos. In 2023, CEE’s e-commerce penetration was 55%, lagging Western Europe’s 80%, underscoring the
The new report on rule of law and governance by the European Commission (EC) gives a mixed picture on Central and Eastern Europe (CEE) anti-corruption efforts, judicial independence, media freedom, and legislative practices. The EC’s Rule of Law Report 2024, its 5th, included assessments of developments in Bulgaria, Czechia,
Hungary has borrowed EUR 1bn (approximately USD 1.1bn) from Chinese banks earlier this year, according to the country’s debt management agency, AKK, local business website Portfolio reported, based on public data. The loan, taken on 19 April, is a 3-year, floating-rate agreement with the China Development Bank, the
Bulgaria has extended a helping hand to Hungary in managing the fallout from Ukraine’s recent ban on the transit of oil from Russia’s Lukoil, Hungarian Foreign Minister Peter Szijjarto, announced in Bucharest, Romania, on Wednesday 24 July. Szijjarto detailed how he and Bulgarian Energy Minister Vladimir Malinov had
Despite only starting its EU rotating presidency on 1 July, Hungary has already made it one of the more memorable of these ordinarily uneventful 6-month tenures. Hungarian Prime Minister Viktor Orban spent the first week of his presidency on a self-styled “peace mission”, when he visited Ukrainian President Volodymyr Zelenskyy,
Slovakia and Hungary have vehemently criticised Ukraine’s recent decision to halt the transit of Russian Lukoil oil to Hungary, with Hungarian Foreign Minister Peter Szijjarto describing it as “incomprehensible and unacceptable”. These sanctions prevent Lukoil from renting the Druzhba (Friendship) pipeline for transit purposes. As approximately 70% of the