Central East Europe / News
Hungary's MOL signs onshore exploration agreement with Azerbaijan's SOCAR
MOL has signed key terms for an exploration, development and production sharing agreement with Azerbaijan’s state oil company SOCAR for the Shamakhi-Gobustan region of the country.
Vote of confidence on Tusk’s government set for June 11
Polish Prime Minister Donald Tusk will seek a vote of confidence in his government on June 11, following the narrow defeat of his presidential candidate Rafał Trzaskowski in the June 1 run-off election.
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Hungarian banks report record year in 2024 with €5bn consolidated profit
Hungary’s banking sector delivered a record-breaking year in 2024, with consolidated net profits reaching a record HUF2 trillion (€5bn).
President Nawrocki shakes Tusk government to the core
The four-party coalition of Prime Minister Donald Tusk appears to have been shaken to its foundations, as the fallout of June 1's presidential election has begun to spread on the following day.
PiS-backed Karol Nawrocki wins Poland’s presidential election
Karol Nawrocki, a political newbie backed by the radical right-wing Law and Justice (PiS) party, has won Poland’s presidential election, official results showed on June 2.
Hungarian central bank books €2bn loss in 2024
The Hungarian National Bank incurred a HUF789bn (€1.95bn) loss last year, according to the annual report of the central bank. While still substantial, this represents a sharp improvement from the record deficit of HUF1.76 trillion in 2023.
Moody's affirms Hungary's rating but flags risks of fiscal slippage and loss of EU funds
Moody's has reaffirmed Hungary's sovereign credit rating at Baa2 with a negative outlook in its latest scheduled review on 30 May, keeping the country just one notch above the lowest investment-grade category.
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UPDATE: late poll has turned Poland’s presidential race on its head, with populist Nawrocki now in front
A late poll, combining exit poll data with some official results, put Karol Nawrocki ahead with 50.7%, while Rafal Trzaskowski trailed at 49.3%, a 1.4 percentage point gap, shortly before midnight Poland time on June 1.
Rafał Trzaskowski ahead in Polish presidential election by margin too narrow to call winner, exit poll shows
Trzaskowski has secured 50.3% of the vote compared with Nawrocki’s 49.7%, with turnout at a high 72.8%. While the margin is razor-thin, election authorities are expected to confirm the result by tomorrow.
MOL to take majority stake in Hungary's leading engineering university
Hungary's MOL is set to take majority ownership in the state-owned company running Budapest University of Technology and Economics, Hungary's most prestigious engineering institution, for HUF50bn (€120mn).
Czech Justice Minister Blažek resigns after revelations his ministry accepted CZK1bn in bitcoins from drug dealer
Pavel Blažek’s resignation comes just four months before the October elections, which the opposition ANO party is widely expected to win.
Estonia’s Eurovision singer’s Espresso Macchiato teasing Italians goes wild
After finishing third in this year's Eurovision Song Contest, Estonian artist Tommy Cash has seen his hit single Espresso Macchiato break into both the Billboard Global 200 chart in the United States and the UK Top 40.
Lithuania hands over probe into American soldiers’ deaths to US authorities
Lithuania handed over the investigation into the deaths of US soldiers at the Pabrade military training area to American authorities, Chief of Defence Raimundas Vaiksnoras said.
COVID is back - a new "NB.1.8.1" strain is spreading across continents
The coronavirus (COVID-19) is back. Reports from health authorities around the world have detected a new highly contagious strain of the virus that has been spreading through Asia and has now reached Russia.
Hungary top European destination for Chinese FDI for second year in a row
Hungary was the top European destination for Chinese foreign direct investment for the second consecutive year in 2024, according to a report by the Hungarian Investment Promotion Agency.
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.
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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.
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.
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.
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.