VISEGRAD BLOG: An easing of trade tensions but still an uncertain situation for export-oriented Central Europe

Clare Nuttall in Glasgow November 27, 2020

The upcoming Biden presidency in the US is expected to lead to an easing of trade tensions that have been particularly damaging for Central Europe’s small export-oriented economies, but it doesn’t herald a return to the old, globalised world.

Hungary and Poland reaffirm united stance on veto, keeping up pressure on EU

Tamas Szilagyi in Budapest November 27, 2020

Right-wing leaders of Hungary and Poland met in the Hungarian capital to coordinate their strategy after they blocked the EU's €1.8 trillion budget and coronavirus recovery package.

Von der Leyen tells Poland and Hungary to contest rule of law link to EU money in court

Wojciech Kosc in Warsaw November 26, 2020

Warsaw and Budapest are blocking the adoption of the EU’s €1.8 trillion budget for 2021-2027, including the €750bn recovery plan to reinvigorate the bloc’s economy after the coronavirus (COVID-19) pandemic.

MEPs urge European Commission to act against Hungarian media financing in North Macedonia and Slovenia

Valentina Dimitrievska in Skopje November 26, 2020

MEPs suspect “gross interference” in democratic process in North Macedonia by Hungarian companies close to PM Viktor Orban’s inner circle.

Kahoot pays $31mn cash for Tallinn-based Hungarian learning startup

Tamas Szilagyi in Budapest November 25, 2020

The acquisition is part of Kahoot’s strategy to expand into new areas of learning, whether at school, work or home.

George Clooney says Hungarian government lied about his connections to Soros

Tamas Szilagyi in Budapest November 24, 2020

Hungarian government likely to come off poorly from clash with Hollywood actor that puts the international spotlight on its politics.

Rosatom's €12.5bn nuclear plant expansion in Hungary moves forward

Tamas Szilagyi in Budapest November 23, 2020

Hungary's energy regulator MEKH issued an electricity implementation licence for the construction of two new blocks at the Paks nuclear power plant in a fast-track procedure.

Attack of the Debt Tsunami: global debt soars to a new all-time high

Ben Aris n Berlin November 19, 2020

The coronacrisis has sent already record-high levels of global debt soaring to giddying new levels, reports the Institute of International Finance (IIF) in a note released on November 18.

Viktor Orban says he blocked EU budget over migration “blackmail”

Tamas Szilagyi in Budapest November 19, 2020

Hungarian PM's spin doctors claim Budapest is being punished for position on migration as he faces backlash at home and from his neighbours for vetoing EU budget and recovery fund.

Cisco expands cloud-based services with acquisition of high-flying Budapest-based startup

bne IntelliNews November 16, 2020

Takeover of Kubernetes-focused Hungarian startup Banzai Cloud is Cisco's second cloud-native-focused acquisition in two months.

Poland and Hungary block EU budget over rule of law link

Wojciech Kosc in Warsaw November 16, 2020

The unanimity required during the process gives Poland and Hungary some leverage in negotiations but is also risky in case Brussels finds a way of circumventing the defiant duo.

Vehicle production puts Hungary's industry on a stable footing in September

Tamas Szilagyi in Budapest November 12, 2020

Industrial output in Hungary grew 2.2% y/y in September, rising for the first time since February.

Hungarian government submits controversial constitutional amendments after parliament approves state of emergency rules

Tamas Szilagyi in Budapest November 12, 2020

Given emergency powers to tackle coronavirus, government immediately attempts to ban adoption by same-sex couples and change election rules.

Hungarian court rules against Digi in 5G tender exclusion case

bne IntelliNews November 12, 2020

Budapest Metropolitan Court ruled in favour of the authority when it rejected the application of Romanian-based telecommunication company Digi to register for participation in a 5G spectrum auction in 2019.

Hungary's government makes u-turn and imposes tough new restrictions as country faces spike in new COVID-19 infections

Tamas Szilagyi in Budapest November 9, 2020

Latest measures fall short of those seen during the first wave of the pandemic, but signal a clear shift away from some of the most lenient policies pursued in the region.

After betting everything on a Trump victory, Hungarian PM congratulates US president-elect Biden on Sunday

Tamas Szilagyi in Budapest November 8, 2020

Hungary’s illiberal leader openly endorsed Trump before the US election and admitted he had "no plan B" for a Biden win, while Hungarian pro-government media outlets remained in denial.

CEE Banking Sectors: In crisis and recovery mode at the same time

Gunter Deuber of Raiffeisen Research in Vienna November 6, 2020

There is positive news for all Central and Eastern Europe (CEE) commercial bankers, market observers and investment bankers. The fresh 2020 CEE Banking Report by Raiffeisen Research paints an encouraging picture of banking in CEE.

Rising COVID-19 cases put intense pressure on CEE healthcare systems

bne IntelliNews November 5, 2020

New restrictions imposed in countries struggling with a vicious second wave of the pandemic.

Hungary in talks with China, Russia and Israel to buy vaccine as fatalities surge

bne IntelliNews November 2, 2020

Hungary is seeing an exponential rise in new cases and people needing hospital treatment, but the government is reluctant to introduce restrictions.

VISEGRAD BLOG: The Central European populists rooting for Trump

Clare Nuttall in Glasgow October 31, 2020

For Central Europe's "illiberal democrats", US President Donald Trump’s re-election would be an affirmation that there is no stopping the global resurgence of the right wing.