A collection of 353 posts
The future of a multi-billion dollar Budapest-Belgrade rail construction has been thrown into doubt after Hungary redirected its equipment and workforce to address a deteriorating railway line between Budapest and Gyor, west Hungary. According to reports, the Chinese have ceased financing the construction, and their employees halted work. Companies owned
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 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
Central and Eastern Europe (CEE) countries Croatia, Hungary, Poland and Lithuania were among the 13 EU member states to request loans from the European Recovery Fund’s Recovery and Resilience Mechanism (RRF), the European Commission announced Friday. The deadline for submissions of loan requests from the NextGenerationEU fund’s resources
Hungary will send money to Republika Srpska (RS) to cover funds that Germany withdrew earlier this year due to the separatist policies of President Milorad Dodik, according to the leader of the majority-Serb entity of Bosnia and Herzegovina (BiH). After visiting Budapest last weekend, Dodik held a press conference and
German munitions company Rheinmetall proclaimed its unit for armoured vehicles as Europe’s most advanced plant when it inaugurated the new factory in Zalaegerszeg, western Hungary, on Friday, 18 August. Amongst other military hardware, the high-tech facility will make the Lynx, the world’s most advanced infantry fighting vehicle (IFV)
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
Hungarian President Katalin Novak reiterated her country’s support for a peace deal with Russia in a speech at the opening ceremony of the 2023 World Athletics Championships in Budapest on Saturday, 19 August. Novak, a close confidante of Hungarian Prime Minister Viktor Orban, said “in the next nine days,
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
Only 6% of Ukrainian diesel imports come from Hungary, the head of Hungarian energy giant MOL said at a conference on Saturday, 29 July. MOL CEO Zsolt Hernadi was responding to a recent article by Netherlands daily Handelsblatt, which said MOL’s oil deliveries to Ukraine have doubled in the
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
The top 11 inflation rates in the EU were in Central and Eastern Europe (CEE) countries in June 2023, according to new data figures published by Eurostat, the EU’s official statistics office. All of the EU member states in CEE registered inflation over the EU average of 6.4%
Increased attention has been drawn to the eastern Mediterranean region by energy companies and European governments in recent weeks, Financial Mirror wrote in an analysis of gas supply to Europe in the aftermath of Russia’s invasion of Ukraine last February. Despite reduced Russian gas flow due to the conflict
Central and Eastern European (CEE) countries may hinder the EU’s ability to meet its climate goals, according to campaigners who are concerned about their National Energy and Climate Plans (NECPs). European Commission President Ursula von der Leyen has emphasised the European Union’s commitment to achieving a net-zero power