Hungary
Global red warning lights are flashing as stagflation looms
The conflict in Ukraine and high inflation threaten the global economy with stagflation similar to that experienced in the 1970s, according to a new World Bank forecast.
Mystery aircraft crosses four Southeast European states
Unidentified aircraft ignored radio contact on route across Hungary, Romania and Serbia before landing in Bulgaria, where an investigation is underway.
CONFERENCE CALL: Globsec basks in Putin's humiliation
In contrast to previous conferences of the Bratislava-based security think-tank, there was a feeling that the West is no longer on the back foot and that now is the time to press home its advantage.
Russia's invasion of Ukraine pushes Eastern Europe further towards the West
But close to half of Globsec Trends 2022 poll respondents in Hungary, Bulgaria and Slovakia do not place primary responsibility on Russia for the war in Ukraine.
EU agrees to delist Russian orthodox leader from sanctions list after Hungarian pressure
The EU’s sixth sanction package against Russia can finally come into force, a month after it was first proposed.
bneGREEN: G7 sets decarbonisation goal for 2035
The G7 has agreed to “predominantly decarbonise electricity sectors by 2035,” and to end government financing for international coal-fired power generation and speed up the phase-out of unabated coal plants by the same year.
Services and industry lift Hungary’s Q1 growth to 8.2%
The outlook for the remaining part of the year is grimmer, due to the impacts of the war, the cutback in public investments and government transfers running out.
Orban wants Russian Patriach removed from EU's sanctions list
Hungary has continued to block approval of the sixth package of sanctions against Russia, this time over the inclusion of the head of the Russian Orthodox Church, Patriarch Kirill.
Hungary receives exemption from EU oil embargo
EU leaders have reached a compromise deal to ban Russian oil exports to the block's countries, putting maximum pressure on Russia to end its war against Ukraine, Charles Michel, President of the European Council, announced in the early hours of May 3
Geopolitics suspected behind Budapest pulling out of race to host ice hockey tournament without Russia
Finland and Latvia will host the 2023 Ice Hockey World Championships after Slovenia and Hungary withdrew their joint candidacy.
bneGREEN: Is coal killing us all?
Ending coal-fired power generation could prevent 14.5mn premature death from air pollution between now and 2050 and would create up to $16.3 trillion in economic benefits.
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Hungarian government to use windfall taxes to rein in deficit and preserve household energy price cap
The announcement is the first open admission by the government about the dismal state of public finances.
Hungarian government declares another state of emergency
Parliament passes tenth amendment to the constitution, giving the radical rightwing government the power to declare a state of emergency in the case of an armed conflict in a neighbouring country.
CEE companies weather the COVID-19 crisis
Prompt and decisive government intervention, financial lifelines and firms’ involvement in global value chains have helped minimise insolvencies, says EIB/EBRD report.
bneGREEN: Fossil fuel closures needed to stand any chance of meeting 1.5°C target
Ending new oil, gas and coal developments is not enough to reach net zero by 2050, according to new research. Instead, already built fossil fuel projects must be decommissioned early if climate change is to be limited to 1.5°C.
bneGREEN: More proof that climate change threatens lives and causes economic damage
Human activity has caused irrevocable damage to the climate, causing hundreds of billions of dollars of economic damage and threatening water and food supplies to millions of people.
Low base and pre-election handouts lift Hungary's GDP growth by 8.2% y/y in Q1
The impact of sanctions on Russia, higher financing costs and lower purchasing power amid rising inflation are likely to dent growth in the coming quarters.
Hungary’s leading IT firm teams up with Rheinmetall to develop digital combat system solutions
JV with 4iG aims to develop digital combat system solutions as well as ground and flight simulation systems for the provision of the most modern soldier training.
Hungary’s automotive sector sputters in March, but growth in electronics remains strong
Headline industrial output growth slows to 3.6% y/y, down from 4.8% in the previous month.
bneGREEN: Raising EU green targets will cost an extra €195bn
The European Commission is considering raising its renewable energy target for 2030 to 45% in new green plans to be published later in May.
