Hungary’s battery manufacturing sector, heralded as a pillar of the manufacturing sector, has posted combined annual losses of nearly $112mn, as weakening global demand and shifting trade dynamics hit the industry hard.
The decision to hold follows a cut of 50bp in May, the first reduction in NBP’s interest rates since 2023. The Polish inflation rate came in at 4.1% y/y in May, easing from 4.3% y/y the preceding month.
Budapest’s transport and finance committees have convened an emergency session to assess the fallout from the government’s recent measures, which local leaders say have pushed the capital to the verge of financial collapse.
Warsaw Mayor Rafał Trzaskowski said he had no regrets about his presidential campaign and that he gave it everything he had, speaking publicly for the first time since his narrow defeat to Karol Nawrocki in the June 1 election.
The Czech Supreme Administrative Court has lifted the blocking of the contract between the South Korea Hydro & Nuclear Power and the Czech side for the major €16bn Dukovany nuclear power plant enhancement.
Hungarian Prime Minister Viktor Orban has vowed to “do everything” in his power to prevent Ukraine from joining the European Union, he said in a social media post on June 3, escalating tensions over the bloc’s enlargement policy.
MOL has signed key terms for an exploration, development and production sharing agreement with Azerbaijan’s state oil company SOCAR for the Shamakhi-Gobustan region of the country.
Polish Prime Minister Donald Tusk will seek a vote of confidence in his government on June 11, following the narrow defeat of his presidential candidate Rafał Trzaskowski in the June 1 run-off election.
Hungary’s banking sector delivered a record-breaking year in 2024, with consolidated net profits reaching a record HUF2 trillion (€5bn).
The four-party coalition of Prime Minister Donald Tusk appears to have been shaken to its foundations, as the fallout of June 1's presidential election has begun to spread on the following day.
Karol Nawrocki, a political newbie backed by the radical right-wing Law and Justice (PiS) party, has won Poland’s presidential election, official results showed on June 2.
The Hungarian National Bank incurred a HUF789bn (€1.95bn) loss last year, according to the annual report of the central bank. While still substantial, this represents a sharp improvement from the record deficit of HUF1.76 trillion in 2023.
Moody's has reaffirmed Hungary's sovereign credit rating at Baa2 with a negative outlook in its latest scheduled review on 30 May, keeping the country just one notch above the lowest investment-grade category.
A late poll, combining exit poll data with some official results, put Karol Nawrocki ahead with 50.7%, while Rafal Trzaskowski trailed at 49.3%, a 1.4 percentage point gap, shortly before midnight Poland time on June 1.
Trzaskowski has secured 50.3% of the vote compared with Nawrocki’s 49.7%, with turnout at a high 72.8%. While the margin is razor-thin, election authorities are expected to confirm the result by tomorrow.
Hungary's MOL is set to take majority ownership in the state-owned company running Budapest University of Technology and Economics, Hungary's most prestigious engineering institution, for HUF50bn (€120mn).
Pavel Blažek’s resignation comes just four months before the October elections, which the opposition ANO party is widely expected to win.
After finishing third in this year's Eurovision Song Contest, Estonian artist Tommy Cash has seen his hit single Espresso Macchiato break into both the Billboard Global 200 chart in the United States and the UK Top 40.
Lithuania handed over the investigation into the deaths of US soldiers at the Pabrade military training area to American authorities, Chief of Defence Raimundas Vaiksnoras said.
The coronavirus (COVID-19) is back. Reports from health authorities around the world have detected a new highly contagious strain of the virus that has been spreading through Asia and has now reached Russia.