A collection of 357 posts
The meeting of the parliamentary speakers of the Visegrad Four (V4) countries scheduled for this Friday (25 November) has been cancelled after legislative leaders from Czechia and Poland announced they would not attend the event, citing Hungary’s friendly relations with Russia, Czech new website Seznam Zpravy reported. Czech Speaker
For the ninth consecutive year, Estonia has the best tax regime of the Organisation for Economic Cooperation and Development (OECD) countries, according to the latest International Tax Competitiveness Index (ITCI). Of the index’s top ten countries, five from Central and Eastern Europe (CEE) were included. Estonia’s top ITCI
Hungary will find out whether it will receive its EUR 7.2 bn pandemic recovery fund payment on 22 November, Bloomberg reports, citing inside EU sources. After over a year of discussions, in September the European Commission (EC) froze the funds due to concerns regarding the rule of law in
Household electricity prices rose year-on-year in the first half of 2022, from EUR 22 per to EUR 25.30 per 100 kWh on average, according to the latest report by Eurostat. Meanwhile households across the bloc saw gas prices climb from EUR 6.40 to EUR 8.60 per 100
Hungarian Prime Minister Viktor Orban and Georgian Prime Minister Irakli Garibashvili signed a strategic partnership agreement and discussed responses to the energy crisis in Budapest on Thursday. A key point on the agenda was the possibility of transiting electricity from Azerbaijan to Hungary via Georgia and Romania. Orban said a
Romanian lorry drivers urged their government to “relentlessly lobby” for the country to join the Schengen zone on Monday, asserting that preventing lengthy delays at its border with Hungary would increase freight volumes by around 20%. On Monday, Europa 2002 Haulier Employers’ Association chairman Adrian Pop echoed the sentiments of
The loan-book performance of banks in Central and Eastern Europe (CEE) is set to worsen as interest rate hikes take their toll on the loan repayment capacity of borrowers, according to a report released by Moody’s on Thursday. The credit rating agency notes that although CEE region’s inflation
The forint rebounded against both the US dollar and euro late Monday, on news that Russian-state-run energy company Gazprom has agreed not to collect payment on Hungary’s gas usage this winter. As per the deal, announced by the Hungarian Energy Board MVM earlier Monday, Hungary can delay payment for
As national currencies shed value across Central and Eastern Europe (CEE) on Thursday, the Hungarian forint fell hardest, to historic lows of 423 to the euro and 437 to the US dollar. The forint led a slump in eastern European financial markets as worries over the fallout from Russia’s
German carmaker Volkswagen (VW) may close its plants in Central and Eastern Europe (CEE) if the natural gas shortage persists beyond this winter, procurement manager Geng Wu said. Volkswagen will consider bringing factories closer to the point of sales, in the medium-term, Wu added, citing the worldwide shortage of microchips
Hungarian Sinologist Tamas Matura argued in his recent report for CEPA that China wields little influence in Hungary, despite the Hungarian government’s decade of support for Beijing in the EU. However, shortly after the release of the CEPA report, China’s CATL announced plans to build a EUR 7.
The European Commission (EC) recommended the rescinding of 7.5 billion euros worth of cohesion funds from Hungary on Sunday, unless it enacts reforms that address rule of law issues in the country. After weeks of intensive dialogue between the EC and officials from Prime Minister Viktor Orban’s government,
Ryanair CEO Michael O’Leary said his budget airline has no plans to withdraw from Hungary but will cease some services in the winter months in response to the government’s “idiotic” windfall tax on airlines, at a press conference in the Hungarian capital of Budapest on Tuesday. The move
As the September 21 deadline approaches, leaders in Brussels are split on whether to finally unlock billions of euros that have been withheld from Hungary due to concerns about the rule of law and corruption in the country. In addition to around EUR 6bn that Hungary was earmarked to receive
As the EU accelerates its shift to electric vehicles by outlawing internal combustion engines by 2035, the auto industries in Central Europe are transiting to e-mobility. Battery plants can play a key role in the absorption of manpower as conventional car making is phased out, while pulling in new electronic