Central Europe / News

Danske Bank to waive profit from suspicious transactions in Estonia

bne IntelliNews July 19, 2018

An investigation has been launched after media reports that much as €7.1bn may have been laundered via the bank’s Estonian operations.

Hungary's Hell Energy takes on export markets

Levente Szilagyi in Budapest July 17, 2018

Hell Energy has become the second largest soft-drink maker in Hungary after Coca-Cola and is rapidly expanding abroad.

Trump gives Eastern Europe hope and pain at Nato summit

Wojciech Kosc in Warsaw July 13, 2018

US president appeared to have sided with countries from the EU’s eastern flank on issues like Nord Stream, but he was quick to deliver some worrisome messages as well.

Hungary's labour shortage even greater challenge than thought

bne IntelliNews July 10, 2018

Nine out of 10 companies in the manufacturing sector say a labour shortage could force them to cut output, a problem exacerbated by Hungary's declining demographics.

China seeks to warm up relations with EU at 16+1 summit in Sofia

Denitsa Koseva in Sofia July 8, 2018

China wants to set closer economic ties with the European Union after a trade war has erupted between the East Asian powerhouse and the US.

Slovakia's Presov and Czechia's Prague rated the best cities in Europe for doing business

Jaroslav Hroch in Prague July 8, 2018

The World Bank Group’s study Doing Business in the European Union 2018 said that the most business-friendly city in Slovakia is the country's third largest city Presov, while the capital Prague is the top spot in Czechia.

Over €7bn reportedly laundered through Danske Bank in Estonia

bne IntelliNews July 5, 2018

The money laundering scandals in Eurozone members Estonia and neighbouring Latvia are an embarrassment for the European Central Bank, which is coming under fire for overlooking problems in the Baltic states.

Hungarian PM's main foe throws in the towel, sells businesses and retires

bne IntelliNews July 5, 2018

Billionaire Fidesz cashier turned harsh Orban critic Lajos Simicska is selling his entire business empire, including his media holdings, in a deal that will have enormous political and economic implications.

Coming US-EU trade war threatens CEE auto industry

Clare Nuttall in Bucharest July 4, 2018

Cars account for a whopping 60% of Slovakia's exports to the US, and a hike in tariffs on German auto exports would hurt components manufacturers across the CEE region.

Poland’s Supreme Court crisis intensifies

Wojciech Kosc in Warsaw July 4, 2018

Protests erupted in cities across Poland in defence of the Supreme Court's independence, while the European Commission has launched an infringement procedure that could see Warsaw stripped of its voting rights in the EU.

Hungary's central bank stands firm in face of rising yields, weaker forint

bne IntelliNews July 4, 2018

The MNB hopes to sit out the storm without giving in to market expectations of an end to its dovish policies, but bond yields have continued to creep up higher.

Poland’s Supreme Court showdown pushes conflict with EU closer to head

bne IntelliNews July 3, 2018

Judges of Poland’s Supreme Court were expected to show up to work on July 3, the day on which a highly contested law forcing them to retire is taking effect.

Central, Southeast Europe growth slowdown led by “overheating” Romania and Turkey

bne IntelliNews July 2, 2018

Growth has passed its peak across most countries in Central and Southeast Europe, with the region expected to make a gradual slowdown, research from Vienna-based wiiw finds.

Visegrad Four claim EU migration summit as their own success

Wojciech Kosc in Warsaw July 2, 2018

In the context of the current political instability in the bloc, EU leaders decided to do away with the compulsory quota system of relocating refugees and migrants, which has been long opposed by the V4 countries.

Romania faces critical skills shortage

bne IntelliNews June 29, 2018

Employers across CEE are struggling to find workers with the skills they need, but the problem is worst in popular nearshoring locations Romania and Bulgaria, a ManpowerGroup study finds.

Private equity giant Advent buys Prague-based drug maker Zentiva for €1.9bn

Jaroslav Hroch in Prague June 28, 2018

Advent aims to create an independent European leader in generic drugs after completing one of the Czech Republic's largest ever acquisitions.

Poland tones down Holocaust complicity law

Wojciech Kosc in Warsaw June 28, 2018

Warsaw backed down on the controversial law after months of international outrage, especially from Israel and the US.

Czech president appoints second government led by populist Andrej Babis

Jaroslav Hroch in Prague June 27, 2018

Czechia finally gets a new government of Babis' Ano in coalition with the CSSD, but the latter has already been criticised for bowing to pressure not to insist on its preferred candidate for foreign minister.

Czech government supports same-sex marriages bill

bne IntelliNews June 27, 2018

In a first for Central and Eastern Europe, the Czech government supported a cross-party bill on same-sex marriage, but it faces strong opposition from conservatives.

Czech Ano introduced ministerial candidates, but justice candidate criticised

Jaroslav Hroch in Prague June 23, 2018

Caretaker PM and Ano leader Andrej Babis' nomination for justice minister, Tatana Mala, drew ire as Mala has been battling both the right-wing opposition and Ano's coalition partner.