Number of online shoppers close to 5.4mn in Hungary

bne IntelliNews May 23, 2019

Online sales in Hungary are growing at a pace three-fold that of retail sales, around 17-18%, and accounted for 4.5% of total retail sales turnover last year, eNet found.

Voters prepare to punish their ruling parties in European Parliament elections

bne IntelliNews May 22, 2019

Following domestic political scandals in several Central and Southeast European member states, many voters just want to give their ruling parties a kicking in this week's EU-wide vote.

Hungary has EU's highest rate of increase in new residence permits

bne IntelliNews May 21, 2019

Budapest eased restrictions on the employment of non-EU citizens in an effort to manage the labour crunch.

First phase of ZalaZone race track inaugurated in Western Hungary

bne IntelliNews May 20, 2019

The Zalaegerszeg race track, one of its kind in the CEE region, has been specifically designed to test autonomous, connected, and electric vehicles.

MOL teams up with InoBat on hydrogen fuel cell development

bne IntelliNews May 20, 2019

The Hungarian company is pursuing alternative investments in line with its long-term strategy as it seeks to decrease dependence on its core business.

Hungary's stellar Q1 GDP growth puts it first in Europe

bne IntelliNews May 16, 2019

GDP growth reached a 19-year high of 5.3%, with the industrial sector unfazed by a slowdown in eurozone economies or the strike at Audi's Gyor factory.

Facebook bans ads of Hungarian government-friendly media conglomerate

bne IntelliNews May 16, 2019

Mediaworks, which is closely aligned with the ruling conservative Fidesz, says there are "political and ideological reasons" for the decision.

Vehicle sector output shifts to higher gear, lifting Hungary's industrial output

bne IntelliNews May 15, 2019

The automotive sector, which has the largest weight in the industrial sector, boosted output by 12.8% y/y in March, the highest rate in two-and-a-half years.

Donald Trump praises Hungary's efforts to curb migration at meeting with Vikor Orban

bne IntelliNews May 14, 2019

"You're respected all over Europe ... a little bit controversial, but that's okay,” US president tells Hungary’s illiberal prime minister.

PM Viktor Orban's family and friends feature heavily on Hungarian rich list

bne IntelliNews May 10, 2019

Orban's close associate Lorinc Meszaros is ranked second on list that also includes PM's son-in-law Istvan Tiborcz and Istvan Garancsi, the owner of the premier's favourite football team.

Golden keys to the EU’s back door

Clare Nuttall in Glasgow May 9, 2019

While EU members are taking steps to end or phase out investment for citizenship programmes, the opposite is happening in some potential future members.

Hungary unveils long-term energy and climate change plan

bne IntelliNews May 9, 2019

New strategy based on nuclear and renewable energy aims to cut greenhouse gas emissions by as much as 85% compared to 1990 levels by 2050.

Hungary and Russia amend loan agreement on Paks nuclear power plant

bne IntelliNews May 7, 2019

Budapest opened talks on rescheduling the Russian loan for the Paks expansion when it became clear that the new blocks would not start operations in 2025-2026 as originally planned.

COMMENT: Chinese engagement in CESEE: paper dragons and false inevitabilities?

Gunter Deuber of Raiffeisen Research in Vienna, Marcus How of Vienneast in Vienna May 3, 2019

The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.

Orban and Salvini united against migration at Budapest meeting

bne IntelliNews May 3, 2019

While their political parties are from different families, it’s clear that the two leaders see eye-to-eye on some important fundamental issues as they meet ahead of this month's European Parliament elections.

Poland leads CEE charge against “centralised” and “multi-speed” EU

Wojciech Kosc in Warsaw May 2, 2019

Warsaw wants the EU to devolve more powers to national governments and opposes deeper integration of some – mostly Western – member states in specific policy areas.

15 years on from 2004 wave of EU accessions, convergence but a patchy overall record for CEE countries

Clare Nuttall in Glasgow May 1, 2019

15 years after eight CEE states entered the EU, there have been significant economic gains, but in recent years this has been accompanied by a backsliding on democratic reforms.

Hungarian PM Viktor Orban’s friend seals €2.3bn railway contract with Chinese firms

bne IntelliNews April 29, 2019

RM International, a company owned by Lorinc Meszaros, is part of the consortium picked to upgrade the railway line connecting Budapest and Belgrade.

Orban deepens Sino-Hungarian strategic partnership at BRI summit

bne IntelliNews April 29, 2019

Foreign policies based on democracy export are "counter-productive" and "destabilising", says Hungarian Prime Minister Viktor Orban as he pursues deeper ties with Beijing.

COMMENT: CEE Fintech Atlas: Old narratives are changing, innovations may flow now from East to West

Gunter Deuber of Raiffeisen Research in Vienna April 25, 2019

After nearly three decades since the end of the socialist experiment many countries in Central and Eastern Europe (CEE) have made enormous progress, but they are still catching up to their western peers. But not in fintech.