A collection of 122 posts
To curb inflation, the Central Bank of Hungary (MNB) on Tuesday raised its base rate by 30 basis points to 0.9% from 0.6% – slightly exceeding forecasts. Via this move, Hungary may be the first EU member state to initiate a cycle of rate hikes aiming to combat growing
The European Environmental Agency makes annual comparative reports on air quality in all of the main European cities. The good part is, they make it publicly available through an interactive map, which we’ve embedded below. Check your hometown, holiday destination, or any other place that comes to mind. The
Meeting the EU’s 2030 climate targets poses a huge challenge for Central European countries, especially for coal-dependent Poland. But it is also helping the country with a population of 40 million to modernize. Thwarted by the highest electricity prices in Europe, and pressured by EU environmental regulations, Poland has
Global warming will not only wreak havoc on the global economy but could also result in dire economic consequences for Hungary and other countries in Central & Eastern Europe. G7 economies, for example, could lose USD 5 trillion a year, or 8.5% of their GDP by 2050, if global
Shortly following the monumental changes to their governmental systems and economies, countries in Central & Eastern Europe did see their wages grow steadily – but over 30 years later it is apparent that average employee pay in the region can still be even half of that seen in the West of
Romania’s economy will grow by 6% this year, fully reversing the 3.9% contraction caused by the COVID-19 pandemic last year, according to an updated Global Economic Prospects published by the World Bank. The global outlook remains subject to significant downside risks, including the possibility of additional COVID-19 waves
Poland says that closing down its open-pit brown coal mine in Turow would be an “energy disaster.” Even so, the European Commission is lining up behind the Czech Republic in an ongoing fight with its neighbor against the expansion of the mine, which is run by Poland’s state-run company
Europe looks to return to normal as the first major international sport event, the UEFA 2020 football championship, is about to kick off this Friday, 11 June. While the continent’s ailing tourism sector is expecting some kind of boost, one wonders whether it is not too early to open
Hungary’s OTP Bank has acquired a 100% stake in Slovenia’s Nova KBM after signing a purchase agreement with former shareholders of Apollo Global Management (former 80% owner) and the European Bank For Reconstruction and Development (20% owner). The deal is the most significant acquisition in the history of
As in most countries in Central & Eastern Europe (CEE), the competitiveness of the Hungarian economy heavily depends on car production. In recent years, however, the sector has had to face challenges like the potentially growing market of electric cars, as well as the COVID-19 pandemic. New European climate and
EU member states have approved a EUR 17.5 billion fund which aims to help some countries wean themselves from polluting industries like coal mining and others with high emissions, moving them towards green industries in the push to achieve net zero GHG emissions. The so-called Just Transition Fund (“JTF”
Slovakia has been a great beneficiary of automotive industry expansion in recent decades. However, its high exposure to the global car market, and the ongoing far-reaching transformation of the industry may endanger the country’s outlook in this regard and reveal weaknesses in Slovakia’s economic growth model. “This is
This week, Romania announced that it was ditching coal, thus joining the majority of EU member states that have made a pledge to phase out their coal industries. Romania’s plan sees a total coal phase-out by 2032. In the meantime, in 2022 the country will come up with legislation
Czech prime minister Andrej Babiš should be indicted over charges of fraud involving European Union subsidies, according to a recommendation by Czechia’s national police, who made their announcement about Babiš on Monday. Prosecutors there said they had received an updated police investigation into his alleged involvement in fraud estimated
The net sales of Hungary’s MVM Group amounted to HUF 1,835 billion last year, which is EUR 71,8 million higher than in 2019 and an increase of 91% compared to 2016, János Sum, Deputy Chief Financial Officer of MVM Zrt said told the press. Other numbers are