Central Europe / News

Calls for Czech spy chief and interior minister to resign as STAN corruption scandal widens

bne IntelliNews August 16, 2022

Newly appointed head of intelligence Karel Mlejnek admits knowing accused STAN party sponsor but says this has already been cleared by investigators.

Czech ANO party maintains strong poll lead

Robert Anderson in Prague August 15, 2022

However, French prosecutors are now looking into allegations of tax evasion over Babis' purchase of a luxury property there that were revealed in last October's Pandora Papers leak.

Hungary secures increase in Russian gas supply

bne IntelliNews August 15, 2022

Under the agreement, an extra 2.6mn cubic metres per day of gas will arrive in Hungary’s south from the TurkStream pipeline up until the end of August.

China's CATL to build €7.34bn battery plant in Hungary

bne IntelliNews August 15, 2022

The Hungarian government is seeking to attract the world's leading EV battery producers and suppliers to diversify dependence on traditional vehicle manufacturing.

Estonia and Latvia pull out of China-CEEC cooperation format

Linas Jegelevicius in Vilnius August 14, 2022

The CEEC platform, which was once called the 17+1, now has 14 members plus China.

Entain buys Croatia’s SuperSport as it expands into Emerging Europe

bne IntelliNews August 12, 2022

LSE-listed Entain acquires Croatian gaming and sportsbook operator SuperSport Group in a deal that values the company at €920m.

Russia resumes oil supplies to Slovakia and Hungary but imports to Czechia remain halted

bne IntelliNews August 11, 2022

Hungary's MOL group pays for Transneft's transit fee to Ukrtransnafta, ending cut-off caused by 'administrative glitch'.

Russia cuts oil flow via Ukraine's Druzhba pipeline, blaming sanctions for blocking transit payments

bne IntelliNews August 9, 2022

Cut-off will hit the Czech Republic, Hungary and Slovakia hardest, as they rely heavily on imports via the Druzhba pipeline.

Czech central bank ends cycle of increasing interest rates

Albin Sybera August 5, 2022

New governor calls halt to interest rate rises after nine hikes.

Row over Babiš' conflicts of interest set to spice up Czech presidential race

bne IntelliNews August 1, 2022

Government mulling asking former premier's Agrofert holding to return subsidies that EU has ruled it was ineligible to receive because of his conflicts of interest.

Czech government revises budget deficit up to CZK330bn

bne IntelliNews July 29, 2022

Civic Democrats continue to reject tax rises to close deficit swollen by COVID-19 pandemic and Ukraine war.

Drought damage to European grain harvest piles on top of Ukraine war impact

bne IntelliNews July 28, 2022

Extreme heat and droughts across several European countries have led to forecasts for this year’s harvests being reduced.

Off-the-scale wildfire devastates Czech Republic’s Bohemian Switzerland National Park

bne IntelIiNews July 27, 2022

Hundreds of firefighters have for five days battled worst fire in country’s modern history.

Hungarian central bank raises base rate to 14-year high

bne IntelliNews July 26, 2022

Focussed on fighting inflation, the MNB raised the base rate by 100bp to 10.75%, its highest level since December 2008.

Viktor Orban blasts EU sanctions in keynote speech marred by racist remarks

bne IntelliNews July 25, 2022

Hungarian strongman slams "ineffective" EU sanctions and says new strategies are needed to end the war in Ukraine, as he reaches out to US right wing.

ECB makes first rate hike in 11 years to contain inflation

bne IntelliNews July 22, 2022

Rate hike made in response to accelerating inflation after consumer prices in the Eurozone grew by 8.6% y/y in June.

Hungarian foreign minister in Moscow to secure additional gas deliveries

bne IntelliNews July 22, 2022

Peter Szijjarto visited Moscow with a government mandate to buy an additional 700mcm of gas from Russia in addition to the 4.5bcm under a long-term agreement with Gazprom.

Firefighters battle wildfires in Southeast Europe as heatwave spreads east

bne IntelliNews July 21, 2022

The heatwave that caused havoc in Western Europe is now moving north and east, with temperatures in Southeast Europe expected to peak over the weekend.

Lithuania’s foreign minister faces interpellation over Kaliningrad transit sanctions

bne IntelliNews July 20, 2022

Opposition MPs say they want answers about government's handling of EU sanctions on Russian goods transiting via Lithuania to the Russian exclave of Kaliningrad.

Hungarian MPs back resolution calling to scrap elected European Parliament

bne IntelIiNews July 20, 2022

Lawmakers in parliament dominated by Prime Minister Viktor Orban’s rightwing Fidesz want elected MEPs to be replaced by representatives appointed by the national legislatures of the 27 EU member states.