News

Orban tries to save face after EU summit

Tamas Csonka in Budapest February 2, 2024

Hungarian Prime Minister Viktor Orban was given assurances that the question of Budapest's blocked funds, around €22bn, would be handled impartially.

New Polish government dismisses Orlen chief as clean-up after PiS continues in state companies

Wojceich Kosc in Warsaw February 2, 2024

Investigations launched into sell-off of assets in Lotos merger, and company’s lowering of fuel prices before the election last year.

Ukraine’s bought some breathing space after EU signs off on €50bn support package

bne IntelliNews February 2, 2024

All 27 leaders of EU member states agreed on an additional €50bn support package for the so-called Ukraine Facility within the EU budget, European Council President Charles Michel announced on February 1.

Russia oil product exports fall by a third due to Ukrainian drone attacks on refineries

bne IntelliNews February 2, 2024

Russia is increasingly struggling to maintain the export of oil products after at least half a dozen long-distance Ukrainian drone attacks on refineries caused fires causing temporary halts in production at facilities across western Russia.

Rheinmetall takes over Romanian military vehicles plant to increase footprint on Nato's eastern flank

Iulian Ernst in Bucharest February 2, 2024

Dusseldorf-based military equipment company has strengthened its presence in Central and Eastern Europe since the start of the Ukraine war.

Procter & Gamble staff held hostage in Turkish factory in “Gaza protest” freed

bne IntelliNews February 1, 2024

Police staged a raid nearly nine hours into the standoff when the gunman took a bathroom break.

Former shareholders in Russian iron ore plant facing extortion charges in failed attempt to cash in on Russia sanctions wave

Ben Aris in Berlin February 1, 2024

The former minority shareholders of a major Russian iron ore mining company have encountered what may be the final setback in their 17-year attempt to pressure the company’s new owner to pay them compensation for a disputed buy out deal.

Orban backs down again and lets Ukraine aid go ahead

Robert Anderson in Prague February 1, 2024

The Hungarian strongman had come under huge pressure since he vetoed the EU package at a summit before Christmas.

RBI 2023 profits down by a third as it reports Strabag swap deal is 'on track'

Robert Anderson in Prague February 1, 2024

Controversial swap deal with Oleg Deripaska would allow the Russian oligarch to monetise his frozen 28% stake in Austrian construction firm Strabag, while enabling RBI to withdraw €1.5bn of Russian profits.

Duda–Tusk war continues as president signs 2024 budget but sends it to top court for review

Wojciech Kosc in Warsaw February 1, 2024

President refers budget to PiS-dominated Constitutional Tribunal because two of its MPs were prevented from voting because they were in jail.

Romanian government fears losing at least $2bn in Rosia Montana gold project litigation

Iulian Ernst in Bucharest February 1, 2024

Canada’s Gabriel Resources has been seeking between $2bn and $6.5bn in compensation after the Rosia Montana gold mining project was blocked by the Romanian authorities.

CEE’s logistic giant building new base near CATL and BMW factories in eastern Hungary

bne IntelliNews February 1, 2024

Hungarian logistics company Waberer's is building a 20,000-sqm logistics centre in one of the most dynamic regions in eastern Hungary to serve the needs of automotive suppliers,

EU to renew Ukraine’s trade access, but introduces an agricultural “safety brake”

Ben Aris in Berlin February 1, 2024

The European Commission intends to extend Ukraine’s access to EU markets at the summit this week but will introduce restrictions on some key agricultural products to protect members state’s domestic markets, UBN reported on January 31.

Favourite Westinghouse ejected from Czech nuclear tender

Albin Sybera January 31, 2024

Czech premier announces French EDF and South Korean KHNP will be asked to submit binding offers for up to four new units at the Dukovany and Temelin nuclear power plants.

Serbia’s Komercijalna Banka quits Kosovo after switch to euro

Valentina Dimitrievska in Skopje January 31, 2024

The euro became Kosovo's exclusive currency from February 1, ending the longstanding practice of dinar transactions in majority-Serb parts of the country.

Ukraine hits historic high in Transparency International annual Corruption Perceptions Index, up three points to 36 out of 100

bne IntelliNews January 31, 2024

Ukraine reached a historic high in Transparency International annual Corruption Perceptions Index (CPI) in 2023, improving its score by three points to reach 36 out of a possible 100.

Hungary’s central bank opts for smaller-than-expected rate cut amid rising risks

Tamas Csonka in Budapest January 31, 2024

MNB says risks surrounding global disinflation and volatility in international investor sentiment led the rate cut to be limited to 75bp.

Corruption Perception Index “paints troubling picture” of Central Asia

bne IntelliNews January 30, 2024

Though Uzbekistan is hailed as a “significant improver”, Transparency International says region as a whole struggling with “dysfunctional rule of law, rising authoritarianism and systemic corruption”.

Turkey sinks to lowest ever score on Corruption Perceptions Index

bne IntelliNews January 30, 2024

Country has few democratic checks and balances, insufficient laws against corruption and a reluctance to enforce such laws, says Transparency International.

Hungary remains most corrupt country in EU, Transparency International finds

Tamas Csonka in Budapest January 30, 2024

Viktor Orban's government has made little effort to restore the rule of law and fight corruption, which are the preconditions to continue to enjoy EU funds.

Dismiss