Central Europe / News

EU court stuns Poland’s PiS with order to suspend ejection of judges

Wojciech Kosc in Warsaw October 19, 2018

European Court of Justice makes move in row over politicisation of the judiciary as Poles get set to vote in local elections.

Poland’s local election gives opposition a chance to challenge PiS

Wojciech Kosc in Warsaw October 19, 2018

Poles will vote on October 21 to decide who will be in charge of their districts, towns and regions for the next four years. But the importance of the vote goes far beyond that.

Poland signs 20-year contract for US LNG

bne IntelliNews October 18, 2018

State-controlled gas company PGNiG is building a portfolio of LNG supply deals as Poland works to diversify its gas supplies and reduce dependence on imports from Russia.

Hungarian central bank buys 2,300 bars of gold, raises gold reserves ten-fold

bne IntelliNews October 17, 2018

Hungary's central bank talked earlier of the need to keep gold reserves at a location that "ensures safety in case of geopolitical crises”.

Hungarian government to abruptly phase out home savings funds

bne IntelliNews October 16, 2018

Hungarians are rushing to sign up for new contracts ahead of a parliament vote expected to take place on October 16.

Hungary's residency bond programme cost taxpayers €92mn

bne IntelliNews October 9, 2018

Budapest had no reason to raise finance "from residency bonds sold to rich foreigners", as it could have raised funds from the market at more favourable rates, says damning report from Transparency International and FRIB.

Moneta, Air Bank and Home Credit to create third largest Czech bank

bne IntelliNews October 9, 2018

Richest Czech Petr Kellner to own fifth of new listed lender after €750mn deal.

Pro-Russian party wins Latvia election but new government could be long in the making

Wojciech Kosc in Warsaw October 8, 2018

Previously other parties have united to prevent Harmony forming a government but the fragmentation of the votes cast means coalition negotiations will be difficult.

Shake-up looming in Latvian election

Wojciech Kosc in Warsaw October 5, 2018

Māris Kučinskis' patchwork coalition has never been a strong set-up and is now vulnerable to the rise of populist and anti-establishment KPV.

UK foreign secretary alienates CEE by likening EU to Soviet Union

Wojciech Kosc in Warsaw October 2, 2018

Jeremy Hunt scores own goal as he angers politicians in countries that had been advocating a lenient approach to Brexit.

Further delay to Paks nuclear power plant expansion

bne IntelliNews October 1, 2018

Russian Rosatom, which is expanding the power plant in Hungary's biggest ever investment project, received no valid bids to extend Paks' cooling canal system.

No surprise as Czech National Bank hikes rates by 0.25pp with another increase in sight

Jaroslav Hroch in Prague September 27, 2018

Analysts forecast the central bank will hike the rate one more time in November, after raising it for three consecutive months.

Russian-Hungarian consortium inks €1bn rolling stock deal in Egypt

Levente Szilagyi in Budapest September 27, 2018

Transmashholding-Hungary will deliver 1,300 passenger carriages to Egyptian National Railways, which is overhauling the countryʼs old railway system.

Orban's private jet use causes controversy

bne IntelliNews September 26, 2018

Hungarian PM frequently used a Bombardier luxury private jet to attend football matches, trips organised by an oligarch who won a streak of lucrative state contracts.

FTSE Russell promotes Poland to league of developed markets

Wojciech Kosc in Warsaw September 26, 2018

The promotion is the first FTSE Russell has made in nearly a decade and also marks the first ever upgrade to developed status for a country located in CEE.

European Commission sues Poland for Supreme Court takeover

Wojciech Kosc in Warsaw September 25, 2018

The move will add more tension to the already strained relationship between the European Union and Poland's populist Law and Justice government.

Hungary's leading mineral water producer to double production capacity

Levente Szilagyi in Budapest September 24, 2018

New plant and bottling line opened in central Hungary, as the owner of iconic brand Szentkiralyi pursues regional expansion in cooperation with sector rival Kekkuti.

Czech Transparency International urged Brussels to investigate Czech PM Babis over conflict of interest

bne IntelliNews September 20, 2018

The Czech branch of Transparency International (TI) urged the European Commission to launch an investigation into graft allegations against the Czech populist Prime Minister Andrej Babis (Ano). TI claims that Babis is in a conflict of interest over h

Danske Bank CEO resigns as investigation reveals €200bn channeled through Estonian branch

Wojciech Kosc in Warsaw September 20, 2018

The Danske Bank money laundering case highlights lax control over money flows in Estonia and is an embarrassment for the Eurozone authorities.