A collection of 48 posts
On Tuesday, Hungary’s parliament passed a so-called pedophile law, which critics say is actually directed at the LGBT community and also restricts freedom of expression. Introduced by the ruling Fidesz party which has a two-thirds majority in parliament, the legislation includes a public register of convicted sex offenders and
As its first attempt to test financial markets, the European Commission on Tuesday announced it had raised EUR 20 billion in 10-year bonds successfully. The EU wants to finance the EU27’s COVID-19 crisis recovery. Speaking to the press, EC president Ursula von der Leyen said that the inaugural transaction
China poses security challenges to NATO, which will engage the country to address them, according to an official statement from the organization following US president Joe Biden’s first NATO summit as president on 14 June. The Atlantic defense alliance also recognized Beijing’s nuclear military buildup as a threat.
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
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
The United States has imposed sanctions on three Bulgarians and 64 companies linked to them, over their alleged corrupt activities. The three businessmen are former lawmaker and media mogul Delyan Peevski, government official Ilko Zhelyazkov and fugitive gambling tycoon Vassil Bozhko. Those blacklisted are banned from the US financial system,
A key element of the “Green Deal,” on 10 June EU environmental ministers meeting for the last occasion of Portugal’s EU presidency approved a strategy for adaptation to climate change. Some of the aims of the adaptation strategy, according to Portugal’s minister of environment and climate action, João
In a global effort against “tax avoidance,” finance ministers from the G7 countries meeting in London last weekend have agreed on overarching rules that will oblige multinational corporations to pay a greater share of their global tax obligations. As part of their deal, the G7, a grouping of some of
A so-called “digital identity wallet,” which would grant access for all European citizens to public and private services through their mobile phones, was proposed by the European Commission on Thursday. The EU body argues the COVID-19 pandemic showed the need for more user-friendly online services. Via the proposal, the Union
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
Exiled businessman Mikhail Khodorkovsky at a public hearing of the European Parliment told to MEPs: Russia has recruited allies in Angela Merkel’s German chancellor’s “inner circle” so as in the Austrian intelligence services. One of the earliest and most well known Russian ologarch, Khodorkovsky with his UK-based pro-democracy
Ahead of the EU foreign ministers council meeting on Monday, a working document entitled “EU reinforced engagement in the Western Balkans” details the region’s disillusionment with the slow, stop-and-go European Union enlargement process. The diplomatic paper comes in the wake of a political storm over a series of phantom
President Radev handed over a mandate to the second-largest political force in Parliament, There Is Such a People (TISP), to form a government, following GERB-UDF failed to find coalition partners and secure a majority. The party immediately returned it as they would not like to enter into any coalitions with
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
On 22 April, Ford Europe announced it would invest USD 300 million in Romania to build new light commercial vehicles in its Craiova plant starting from 2023. The Romanian investment was announced weeks after Ford having disclosed it would turn its factory in Cologne, Germany into its European EV automotive