A collection of 20 posts
Romania’s economy continued its robust post-pandemic recovery in the second quarter after already returning to pre-pandemic levels in the first quarter. The country’s gross domestic product (GDP) went up by 1.8% in the second quarter of this year compared to the previous quarter, marking the fourth consecutive
The leaders of the EU are planning to funnel hundreds of billons of euros into sustainable investments each year through banks and markets to create the first “climate-neutral continent” by the middle of the century. The related plans announced in the EU’s sustainable finance framework detail the next steps
As of 3 July, the European Union has banned the 10 most-found in waterways single-use plastic products (SUPs). The 10 most commonly found single-use plastic items on European beaches, alongside fishing gear, represent 70% of all marine litter. Therefore the EU member states have agreed to ban the most-used SUPs
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
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
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
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
European investments in artificial intelligence (AI) and blockchain technologies are way behind Chinese and American investments. In a report related to such competition, the European Investment Bank (EIB) has concluded that the EU has an annual investment shortfall of up to EUR 10 billion. The EIB reports that China and
Central Europe’s largest solar plant has been inaugurated in Kaposvár, southwest of the Hungarian capital Budapest. The 100-megawatt solar power plant was built by China National Machinery Import & Export (CMC), a Chinese company investing HUF 36 billion. The Kaposvár solar power plant increases Hungary’s photovoltaic capacity by
More than 60% of Hungarian start-ups are using some sort of “deep tech,” according to the Hungarian Start-up Report conducted by Microsoft among 232 local start-ups. The top verticals were AI, Big Data, Fintech, Analytics/BI, IoT, and Medtech. The study strengthens a preconceived notion that Hungary has better resources
Kyiv and Beijing both remain cautious towards full-scale cooperation despite a number of successful cooperative actions and the increasing trade seen in recent years. Still, some plans seem to be up in the air, or very little information is available on whether or not they are being implemented. 5G’s
It’s said that when times are tough one knows who their friends are. For Greece, it was Chinese interests (and credit) that came to the rescue of an economy that had been on the brink of disaster, and investment by China into a Greek port has turned it into
After an agreed takeover deal for Hungarian insurance company Aegon, a blocking of the transaction between Dutch Aegon and VIG in Austria has led to diplomatic tensions with Austria, the Netherlands, and the EU. Both Austria and the Netherlands have issued complaints about Hungary restricting the free flow of capital
Similar to its welcoming approach to Russia, Hungary’s government is greeting Chinese economic and trade interests with open arms – despite openly expressed concerns by its allies in Brussels and the West. 5G: whose technology? Despite pressure from the US not to do so, Hungary has welcomed Huawei’s participation