Hungary

Hungary’s election committee clears Magyar’s bid to run in EP election

Tamas Csonka in Budapest April 15, 2024

The former Fidesz insider has shaken up the political status quo as he is now polling at 14-15%, in third place.

CEE falling inflation trend comes to an end

bne IntelliNews April 12, 2024

After spiking to 20-year highs thanks to the pandemic and Europe’s Russian induced energy crisis, inflation rates across the EU have tumbled in recent months. That trend has ended and CEE central banks are expected to hike rates again in 2H24.

Hungary announces postponement of investments to meet new deficit target

Tamas Csonka in Budapest April 12, 2024

Analysts calculate that the postponement of HUF675bn (€1.73bn) of state investments will not be enough and that some HUF1.1 trillion of fiscal consolidation is required to keep the revised target of 4.5% of GDP this year.

Viktor Orban blasts Migration Pact as "another nail in the coffin" of EU

bne IntelliNews April 12, 2024

"The MigrationPact is another nail in the coffin of the European Union. Unity is dead, secure borders are no more. Hungary will never give in to the mass migration frenzy! We need a change in Brussels in order to StopMigration!" Orban said.

MOL opens largest green hydrogen plant near Budapest in CEE region

bne IntelliNews April 12, 2024

Hungarian oil and gas giant MOL has inaugurated one of Europe's largest green hydrogen plants and the biggest in CEE to support refinery operations at its facility south of Budapest from a €22mn investment.

Hungary’s CPI edges lower, but price pressures remain in service sector

Tamas Csonka in Budapest April 12, 2024

Consumer prices in Hungary rose 3.6% y/y in March, but services' prices rose almost 10%.

COMMENT: The Three Seas Initiative's digital imperative

Dominykas Tuckus in Vilnius April 12, 2024

While digital infrastructure in the region is growing, support infrastructure designed to handle the growth in demand is what requires investment.

IEA: Methane emissions at an all-time high need to be reduced by 75% by 2030 at a cost of $170bn

International Energy Agency April 11, 2024

Methane emissions are 80 times more damaging than carbon dioxide. Rather than falling, they are currently at an all-time high and rising. The IEA says they need to fall by 75% by 2030 if the Paris Accord targets are going to be met.

The EU is preparing a new, fourteenth package of sanctions

Ben Aris in Berlin April 11, 2024

The EU is preparing a new fourteenth package of sanctions that is slated for adoption in the coming months, but is unlikely to introduce any new products and will focus mostly on enforcing the existing thirteen rounds of sanctions.

E.ON building big solar farm for BMW's Hungarian EV plant

Tamas Csonka in Budapest April 11, 2024

BMW is building a €1bn vehicle plant and a €1bn battery plant in Hungary's fastest-growing industrial hub.

Where Nato has an enhanced forward presence

bne IntelliNews April 10, 2024

On Monday, 8 April, Germany sent an advance team of 20 soldiers to Lithuania, laying the groundwork for the recently discussed establishment of a permanent brigade in the Nato country, Statista reports.

Europe exits the winter heating season with record gas stocks

Newsbase April 9, 2024

The EU has exited the heating season with a record volume of gas in storage, following another mild winter and as a result of reduced industrial demand and a concerted effort by policymakers to boost stockpiles.

Grid bottlenecks on the way in Europe?

Anna Fleck for Statista April 9, 2024

A new analysis by the energy think-tank Ember has found that several countries in Europe could soon face bottlenecks in their national transmission energy grids, as more solar and wind power will be generated than these networks have capacity for.

Summer starts as EU gas tanks start to fill again

Ben Aris in Berlin April 8, 2024

Winter is over, as the EU gas tanks switch from withdrawals to filling mode again in preparation for next winter. Injection into the gas tanks started on April 1, a week earlier than in 2023 and started at an all-time high record level of 59.3% full.

Magyar steps up as challenger to Orban in largest anti-government protest since 1988

Tamas Csonka in Budapest April 8, 2024

The demonstration is a huge defeat for Fidesz, which has tried desperately to discredit Magyar, bit it is also a huge slap in the face for the opposition, which has been unable to gather a crowd similar to Saturday's rally.

Orban’s son-in-law and Russian oligarch reportedly attempted to buy stakes in Spar

Tamas Csonka in Budapest April 5, 2024

The bids were allegedly part of a campaign by the Hungarian government to force the retailer to allow businessmen close to the Orban regime to enter the company.

Russian hard discounter eyes Hungarian retail market

bne IntelliNews April 2, 2024

Svetofor faces challenges in its supply chain due to war and sanctions, but is going ahead with plans to expand in Eastern Europe.

Where is green tech made in Europe?

Ben Aris in Berlin April 1, 2024

Europe is home to more than 400 clean tech manufacturing plants, but the distribution is uneven and a few large countries dominate the business of making equipment needed to produce green energy sources.

Labour costs in Western Europe still four times higher than in Romania and Bulgaria

Iulian Ernst in Bucharest March 28, 2024

Bulgaria has the EU's lowest labour cost, while Romania still lags well behind Poland and Hungary.

Former Fidesz insider presents damaging evidence to prosecutor's office in high-profile corruption case

bne IntelliNews March 28, 2024

Peter Magyar posts secretly recorded conversation with his ex-wife and former justice minister Judit Varga, indicating high-ranking government officials manipulated evidence in a major corruption case.

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