Hungary
European Commission in no rush to step in and settle Lukoil transit ban dispute
Ukraine’s recent sanctions have barred Lukoil from using the country for transit, affecting both Hungary and Slovakia.
Plants absorbing less carbon dioxide in 2023, accelerating global warming
Plants and trees' ability to absorb carbon dioxide fell dramatically in 2023, due to increased heat stress in vegetation, a new study revealed.
EC formulates serious shortcomings for Hungary in the rule of law report
The EC formulates serious shortcomings for Hungary in the rule of law report. Hungary has made some progress on the European Commission’s recommendations made in last year's rule of law report, but there are still serious shortcomings.
Slovakia threatens Ukraine with retaliation over halted Russian oil imports
Ukraine’s tightened sanctions against Russian oil giant Lukoil have led to a decreased flow of Russian oil into Hungary and Slovakia.
Hungarian digital lender Granit Bank taps Romanian market for cross-border services
After dynamic growth in recent years, Granit Bank is making its first international move, says CEO Eva Hegedus.
How energy intensive are data centers?
While countries like China and the United States had the highest electricity demand by a considerable margin, a new player that rivals the consumption of some of the biggest economies and is bolstered by the ongoing AI hype and data center use.
Earth records hottest year since records began
Sunday, July 21 was the hottest day ever recorded globally in 100,000 years according to the EU climate monitoring service Copernicus, warning that the Climate Crisis is accelerating.
Hungary to block disbursement of European Peace Facility to Ukraine until Lukoil delivery issues resolved
Hungary has been blocking the disbursement of the next European Peace Facility tranche for more than a year.
Hungarian central bank moves in line with forecast with 25bp rate cut
The central bank is likely to carry out 1-2 more rate cuts this year, bringing the rate to 6.25-6.50%, which would still be the highest among its CEE peers.
Six out of nine “planetary boundaries” have been crossed and a tenth has appeared
Six out of the nine “planetary boundaries” that track how close humanity is coming to the environmental disaster have been crossed. And now there might be a tenth boundary: the amount of oxygen in oceans is starting to fall.
MOL’s chief fumes over "temporary" windfall tax and criticises Viktor Orban's economic policy
MOL’s chief Zsolt Hernadi, an ally of Viktor Orban, strongly criticised the government’s windfall taxes, which were supposed to be phased out in 2023 but will be maintained for energy companies, retailers and banks in 2025.
Hungary faces energy crisis, after Ukraine cuts off Russian oil deliveries
Hungary's Foreign Minister Peter Szijjarto has warned that a durable solution is urgently needed following Ukraine's decision to cut off oil deliveries from Russia’s Lukoil, causing a significant disruption to Hungary's oil supply.
Hungary's solar capacity climbs over 6,700 MW
Demand for new solar panels surged after the government reduced utility subsidies for households in August 2022.
The eurozone's recovery is losing momentum, according to poll
The latest economic data indicates that the eurozone's recovery is losing momentum, with industrial production continuing to drag on growth and sentiment indicators suggesting a weakening in the strong momentum seen earlier this year.
Hungarian PM defends “peace mission” slammed by EU and Nato officials
Political leaders in Brussels said Viktor Orban had no authority to represent the EU in talks that included a trip to Moscow.
European Commission President Ursula von der Leyen vows to build a Defensive Europe following her re-election
The European Parliament has re-elected Ursula von der Leyen to a second term as President of the European Commission on July 18, who vowed to build a “Defensive Union” to counter Russia’s aggression.
MEPs slam Hungarian PM Orban's Moscow trip, call for repercussions
MEPs overwhelmingly backed resolution condemning visit as a “blatant violation of EU treaties and common foreign policy”.
COLLINGWOOD: Atlanticists vs. Autonomists - The battle for the strategic future of the European Union
In Europe’s capital cities and among its elites a great but undeclared battle is being fought for the future of the European Union. One side is heavily outgunned. The other side is dominant. But the race is on.
Investment into green energy to top $2 trillion in 2024 for first time – IEA
The world now invests almost twice as much in clean energy as it does in fossil fuels, according to a report by the International Energy Agency (IEA), but there are major imbalances in investment with Emerging Markets lagging the developed world.
Europe headed for mini-ice age as AMOC tipping point approaches – paper
A recent study finds that the AMOC (Atlantic Meridional Overturning Circulation) is on course to stop flowing, at the latest, within the next 75 years, causing a mini-ice age in Europe and could disrupt the entire planet's weather patterns.