Central Europe / News

Czech CEZ’s Turkey-listed JV restructures $854mn loan with Yapi Kredi Bank

Akin Nazli in Belgrade November 12, 2019

Markets, meanwhile, draw breath as Erdogan prepares for November 13 White House meeting with Trump. Betting is that the two strongmen will reach an accommodation.

Moscow has the second highest road rage score in the world

Ben Aris in Berlin November 12, 2019

Mister Auto released a survey of which cities in the world are the best and worst to drive in that found Moscow has the second highest road rage index in the world, after only Ulaanbaatar.

Far-right marches in Warsaw to celebrate Poland’s Independence Day

Wojciech Kosc in Warsaw November 12, 2019

Tens of thousands of people joined the 10th Independence March, an annual event that has gained notoriety because it is organised by far-right parties and groups seen as gaining strength in Poland.

Germany fails to protect Nord Stream 2 from EU gas laws

bne IntelliNews November 11, 2019

Germany’s Bundestag parliament has failed to pass a bill that would have helped shield the controversial Nord Stream 2 gas pipeline project from recent amendments to the EU’s gas directive.

Chinese interested to invest in flying car from Slovakia

Nelly Tomchikova in Prague November 6, 2019

Chinese investors might be interested in the flying car of Slovak designer Stefan Klein, as the Slovak News Agency learned at this year's China International Import Expo opened on November 5 in Shanghai.

PPF Group of richest Czech Kellner posted a profit increase of 160% y/y in 1H19

Nelly Tomchikova in Prague November 6, 2019

PPF Group of Czech billionaire Peter Kellner reported net profit growth of 160% year-on-year to CZK14.6bn (€573mn) in 1H19, compared to CZK5.6bn (€220mn) the company earned in 1H18

EU’s top court rules Poland’s judiciary reform breaks EU law

Wojciech Kosc in Warsaw November 5, 2019

The ruling is yet another blow to the ruling right-wing populists from PiS who came to power in 2015 with promises of overhauling the judiciary.

Central Europe shrugs off Western Europe’s slowdown

Ben Aris in Berlin November 4, 2019

Western Europe is rapidly sliding into recession, but after a five-year-long boom, Central Europe is holding out.

Czech-Slovak billionaires Kretinsky and Tkac become the largest shareholders in Metro AG

Nelly Tomchikova in Prague November 4, 2019

EP Global Commerce Group (EPGC) of Czech billionaire Daniel Kretinsky and Slovak investor Patrik Tkac increased their share in German retailer Metro AG to 29.99% by acquiring 7.3% of Haniel ́s shares, becoming Metro ́s largest shareholder

Erdogan makes an enemy of VW’s trade unions

bne IntelliNews November 1, 2019

Labour representatives “repudiate approval” of automaker’s plan to build plant in Turkey while violence in Syria continues.

Hungary drops plans for politically influenced administrative courts

bne IntelliNews November 1, 2019

Budapest will scrap plans to set up a separate system of public administration courts, which had been in the crossfire of international organisations.

Czech PPF Group sold quarter of its stake in Hungarian Telenor

bne IntelliNews November 1, 2019

PPF Group of the richest Czech Petr Kellner sold a 25% stake in the Hungarian radio communications company Telenor, which includes Telenor Hungary and Telenor Real Estate, to Antenna Hungaria.

Warm relations between Budapest and Moscow confirmed at Putin's latest Hungary visit

bne IntelliNews October 31, 2019

Hungarian PM Viktor Orban defended his country's close ties with Russia and talked of Hungary’s position in a regional context “in the triangle between Moscow, Berlin and Istanbul” — with no mention of Brussels.

Belarus deploys troops in Lithuanian direction amid NATO maneuvers

bne IntelliNews October 29, 2019

Belarus has "reinforced the nation's border” and "stationed more ground troops in the Lithuanian direction” in reaction to NATO exercises and the deployment of a contingent of US armed forces in neighbouring country near the border with Belarus, the

Bratislava in the running to host the Volkswagen Passat plant moved from Turkey

Nelly Tomchikova in Prague October 29, 2019

Slovakia's capital Bratislava might be considered as host to the mooted German Volkswagen Passat production plant that is now looking for a home after the company announced it would not build the €1bn plant in Turkey, sources told German weekly Autom

Baltic Pipe clears last major hurdle as Denmark grants offshore construction permits

Wojciech Kosc in Warsaw October 27, 2019

The Baltic Pipe is a major element in Poland’s plan to wean itself off Russian gas, which currently covers around two-thirds of the country’s demand.

Bulgaria’s competition watchdog bans sale of CEZ’ assets to Eurohold

Denitsa Koseva in Sofia October 24, 2019

Czech utility's second attempt to offload its Bulgarian assets is blocked by regulator, which warns deal would cause a "significant deterioration" of market competition.

Slovak tourism posted the highest number of overnight stays since 2006

Nelly Tomchikova in Prague October 24, 2019

Tourism in Slovakia broke a record in August, when hotels and guesthouses reported 2.5mn overnight stays, the most since 2006 when the Slovak Statistical Office started reporting monthly data

GE Hitachi Nuclear Energy announces cooperation with richest Pole on small modular reactor for Synthos

Wojciech Kosc in Warsaw October 22, 2019

GE Hitachi Nuclear Energy has signed an agreement with Poland’s chemical giant Synthos, owned by the richest Pole Michal Solowow, on the potential construction of a small modular reactor.