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.
Hungary was the top European destination for Chinese foreign direct investment for the second consecutive year in 2024, according to a report by the Hungarian Investment Promotion Agency.
Mercedes-Benz Manufacturing Hungary reported a 40% drop in profit as production fell 20% at its Hungarian base, mirroring the slump in the automotive sector.
Governor of the National Bank of Slovakia Peter Kažimír has been found guilty of bribery in a high-profile case and has been fined €200,000, which can be turned into a one-year prison sentence if not paid.
Hungary's government has extended a mandatory cap on markups for a range of food products until the end of August in a bid to contain inflation, despite pledging to phase out the measure at the end of May.
Poland’s radical right-wing Law and Justice (PiS) party’s presidential election candidate Karol Nawrocki has swung to the far right in the last days of campaign, as he seeks to pick up every single vote in the extremely tight race.
Seventeen EU member states have issued a joint statement condemning Hungary’s recent legal measures that ban Budapest Pride, warning that the legislation infringes on fundamental rights and contradicts core European values.
Karol Nawrocki, a presidential candidate of the radical right-wing Law and Justice (PiS) party, has sued Onet, a news website, for a report that alleged he used to arrange prostitutes for guests at the Grand Hotel in Sopot while working as a guard.
Poland’s southeastern town of Jasionka hosted the first Polish edition of the Conservative Political Action Conference (CPAC) on May 27.