A collection of 242 posts
US rating agency Moody’s Investors Service has increased its outlook for Czechia from negative to stable, meaning a rating deterioration is not expected in the foreseeable future. Moody’s justified this as mainly due to Czechia’s significant reduction of risk in connection with gas supplies from Russia. The
Hungary remained the EU’s most inflationary economy with an annual rate of 9.6% in October, an EU statistics office Eurostat report released Friday 17, November revealed. On the upside, this was the first time Hungary’s inflation rate had fallen to single digits since April 2022. The EU’
Automotive and Transport has dropped to third place amongst large companies in CEE, as business sectors of Central and Eastern European (CEE) shifted in size, partly due to soaring commodities prices, the latest Coface CEE Top 500 study found. In its 15th annual study, the French insurance company collects data
Central and Eastern Europe (CEE) is becoming increasingly diversified, ING Bank writes in a new report on Poland, Czechia, Romania and Hungary. This diversification includes economic outlooks, inflation profiles and reaction functions of central banks, the Dutch bank added in its report entitled “One region but very different stories for
Volkswagen is putting its plans to construct a new electric vehicle (EV) “gigafactory” in Central and Eastern Europe (CEE) on hold due to a decline in demand EVs, VW Group Chairman Oliver Blume revealed. The group, which already has three gigafactories, had been considering the construction of a fourth, with
With energy-intensive industries to sustain, Central and Eastern Europe (CEE) is turning to nuclear power to simultaneously meet energy needs and climate targets. Nuclear looks set to be around 50% of the energy mix of several CEE countries within years. The war in Ukraine transformed Europe’s energy landscape, and
Poland, Slovakia and Hungary have come under criticism from the international community including the EU, Ukraine and Germany for extending prohibitions on Ukrainian agricultural imports. German Agriculture Minister Cem Ozdemir on Monday, 18 September, told the countries: “You show solidarity when it suits you. When you don’t like it,
The number of cars with a hybrid drive sold in Czechia increased by almost 41% to 25,987 in the first eight months of the year, according to current data from the Czech Association of Automobile Importers. Of these, plug-in hybrids sales grew by 69%, to 3,566 cars, while
The Central and Eastern Europe (CEE) insurance market reached a total of EUR 12.5bn by the end of the first quarter of 2023, a year-on-year rise of 10.2%. All CEE markets exhibited annual growth, led by Poland, with EUR 4.3bn gross written premium (GWP), followed by Czechia
The emerging economies of Central and Eastern Europe (CEE) are closing in on their Western neighbours thanks to the emergence of new technologies, and nowhere more so than Poland, according to Britain’s oldest independent research institute. CEE is likely to become a new centre of gravity of economic growth
Poland and Czechia are the leading countries in Central and Eastern Europe (CEE) for offering temporary protection status to Ukrainian refugees, according to new figures released this week by Eurostat. According to the EU’s official statistics agency, at the end of June, Poland was giving 977,740 people temporary
Foreign affairs parliamentary committee chairs from Central and Eastern European (CEE) countries including Czechia, Ukraine, Estonia, Latvia and Lithuania are amongst the signatories of an open letter calling for more criticism of Serbian President Aleksandar Vucic’s Kosovo policy. The letter to the EU and the US, seen by German
Emirates Telecommunication Group Company (e&) will buy a 50% plus one share in PPF Group’s telecommunications assets in Bulgaria (mobile operator Yettel Bulgaria), Hungary (Yettel Hungary), Serbia (Yettel Serbia) and Slovakia (O2 Slovakia). The United Arab Emirates-based telco holding company, formerly Etisalat, will pay EUR 2.15bn upfront
Unlike its regional peers, the forint weakened massively this week, as the Hungarian National Bank (MNB) continued to unwind the emergency measures around Europe’s most inflated currency, Hungarian business website Portfolio wrote. Against the euro and the dollar, the domestic currency suffered a significant devaluation, 1.8% against the
Czech Prime Minister Petr Fiala dismissed Hungarian Prime Minister Viktor Orban’s claim over the weekend that Czechia has “changed sides” regarding the EU, emphasising the importance of regional cooperation, rather than “absurd stigmas”. Speaking at the 32nd Baile Tusnad “Summer University” Orban had said Czechia is now aligned with