News
Slump in vehicle sector hits Mercedes’ operation in Hungary
Mercedes-Benz Manufacturing Hungary reported a 40% drop in profit as production fell 20% at its Hungarian base, mirroring the slump in the automotive sector.
Watchdog warns of Kyrgyzstan using security apparatus to “dismantle independent journalism” after detentions
President’s spokesman claims those detained were writing “hit pieces against the state”.
African Development Bank elects former BADEA chief, finance minister of Mauritania as president
Sidi Ould Tah, who recently stepped down as Arab Bank for Economic Development in Africa (BADEA) president, must find fresh financing to offset Trump's tariffs and the likely loss of $555mn in US funding.
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Slovakia's central bank governor found guilty of bribery
Governor of the National Bank of Slovakia Peter Kažimír has been found guilty of bribery in a high-profile case and has been fined €200,000, which can be turned into a one-year prison sentence if not paid.
Nissan's Oppama Plant in Japan faces uncertain future as restructuring efforts take toll
Opened in 1961 on a former Japanese naval airfield, the facility was key in transitioning Yokosuka's economy from military to civilian, in the process manufacturing iconic models like the Bluebird.
White House orders cessation of semiconductor tech sales to China
The announcement caused initial stock declines for Synopsys, Cadence and potential acquisition target Ansys. Meanwhile, Chinese EDA firms like Empyrean Technology, Primarius and Semitronix are expanding their market presence.
Hungary extends cap on markups until end of August, retailers warn of mass closures
Hungary's government has extended a mandatory cap on markups for a range of food products until the end of August in a bid to contain inflation, despite pledging to phase out the measure at the end of May.
Sanctioned Georgian interior minster resigns
Opponents of the ruling Georgian Dream party suggested Vakhtang Gomelauri's departure could signal a growing rift within the Georgian legislative, as anti-government, pro-EU protests continue nightly in Tbilisi.
Gulf States, China dominate ASEAN Summit with a pledge to strengthen ties
Meeting in the Malaysian capital, Kuala Lumpur, the GCC, China and the 10-member Association of Southeast Asian Nations issued a joint declaration committing to “chart a unified and collective path towards a peaceful, prosperous and just future.
Watchdog warns Montenegro's UAE development deal puts EU accession at risk
Environmental groups and sections of civil society have criticised the deal as a potential land grab that threatens natural resources and democratic oversight.
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Brazil's airline Azul files for Chapter 11 bankruptcy to restructure pandemic debt
Brazilian airline Azul has filed for Chapter 11 bankruptcy protection in the US as it seeks to restructure billions of dollars in mostly pandemic-era debt.
Bulgarians divided on euro adoption
Bulgaria has set a target date of January 1, 2026 for euro adoption, but the government's commitment to Eurozone entry faces political opposition.
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El Salvador’s Bitcoin splurge risks derailing $120mn IMF payout
The IMF struck a staff-level agreement with El Salvador, paving the way for nearly $120mn in funding pending executive board approval. But tensions persist as the country continues buying Bitcoin in defiance of the fund's conditions.
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Latin America faces investment drought as fiscal space shrinks, ECLAC says
ECLAC report highlights the region's struggle with low public investment amid mounting debt pressures.
Poland's presidential candidate Nawrocki lurches to the extreme right, seeking support ahead of crucial run-off vote
Poland’s radical right-wing Law and Justice (PiS) party’s presidential election candidate Karol Nawrocki has swung to the far right in the last days of campaign, as he seeks to pick up every single vote in the extremely tight race.
US admits to 500 troops in Taiwan testing Beijing’s red lines
The US has admitted that it has approximately 500 military personnel stationed in Taiwan, breaking previous pledges not to post soldiers on the contested island.
EU states condemn Hungary over law banning Budapest Pride, urge Brussels to take action
Seventeen EU member states have issued a joint statement condemning Hungary’s recent legal measures that ban Budapest Pride, warning that the legislation infringes on fundamental rights and contradicts core European values.
Polish presidential frontrunner Nawrocki sues publication for alleging he was a pimp
Karol Nawrocki, a presidential candidate of the radical right-wing Law and Justice (PiS) party, has sued Onet, a news website, for a report that alleged he used to arrange prostitutes for guests at the Grand Hotel in Sopot while working as a guard.
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China shifts from global banker to leading debt collector
Once the primary provider of capital across much of the world, Beijing now finds itself at the receiving end of record repayments, particularly from some of the world’s poorest and most vulnerable nations.
CPAC brings MAGA message to Poland ahead of presidential vote
Poland’s southeastern town of Jasionka hosted the first Polish edition of the Conservative Political Action Conference (CPAC) on May 27.