Central Europe / News

Hungary's opposition scores stunning upsets in local elections

Levente Szilagyi in Budapest October 14, 2019

Ruling Fidesz party loses Budapest after nine years. Overall results across country amount to first serious electoral reverse for Viktor Orban since 2010.

Poland’s PiS win general election but fails to increase its domination

Wojciech Kosc in Warsaw October 14, 2019

Poland’s ruling party Law and Justice (PiS) won the general election, an exit poll showed on October 13. PiS scooped up 43.6% of the vote that should give it another four years with a clear majority in the lower house of the Polish parliament, the Se

Bulgaria’s antitrust body starts in-depth probe into sale of CEZ’ assets

Denitsa Koseva in Sofia October 10, 2019

Probe into deal to sell CEZ' Bulgarian assets to local Eurohold follows collapse of earlier deal with Inercom that was blocked by regulators last year.

Czech government spent tens of millions of public money on foreign trips

bne IntelliNews October 10, 2019

Czech Prime Minister Andrej Babis (ANO) and his ministers have been busy traveling around the world, spending millions in public money on 290 business trips abroad.

Polish MEP Robert Biedron reportedly saves man and his 2-year-old son from a burning car

Wojciech Kosc in Warsaw October 9, 2019

Dramatic rescue by the first openly gay politician to win a parliament seat in Poland might just give the left-wing Lewica coalition some extra points in the general election on October 13.

Sex, corruption, cocaine, Hungary’s election campaign gets dirty

Levente Szilagyi in Budapest October 7, 2019

An anonymous blogger has released a sex video showing Zsolt Borkai, the Fidesz mayor of one of Hungary's largest cities, on a yacht with prostitutes less than one week before the local government elections, local media reported on October 6.

Pan-European wave of consolidation threatens to ground small Central, Southeast European airlines

Clare Nuttall in Glasgow October 4, 2019

Slovenian national carrier Adria Airways's decision to file for bankruptcy followed the demises of a series of other European airlines against the underlying trend of an air transport market in the throes of consolidation.

ECJ rules in favour of Polish borrowers in Swiss franc mortgage case

bne IntelliNews October 3, 2019

The ruling by the EU’s top court will allow mortgage borrowers to ask Polish courts to convert their loans into the local currency, and is expected to lead to more borrowers taking legal action against banks.

Hungary fills up gas storage facilities to full capacity

bne IntelliNews October 3, 2019

Foreign Minister Peter Szijjarto says move guarantees domestic supply security and allows Hungary to store gas for other countries, after Gazprom agrees to top up Hungary's gas reserves.

Poland cannot afford climate neutrality goal in 2050 minister says

Wojciech Kosc in Warsaw October 2, 2019

Poland’s energy sector would need €300bn-€400bn for transformation towards carbon-neutrality while the price tag for the entire Polish economy to meet the EU’s climate ambitions could be €700bn-€900bn, Energy Minister Krzysztof Tchorzewski said.

Hungary launches new investment incentives

Levente Szilagyi in Budapest October 1, 2019

Hungary has reached the limit of new job creation so the goal will shift from creating workplaces to strengthening technological development and R&D.

Czech Republic ranked 22nd most economically free country in the world, according to Economic Freedom Index

Nelly Tomchikova in Prague September 30, 2019

The Czech Republic was ranked as the 22nd most economically free country among the 162 countries in the world in 2018 (based on 2017 data), according to the Economic Freedom of the World Index published by Canadian institute Fraser.

European Parliament committee rejects Hungarian, Romania commissioners-designate

bne IntelliNews September 27, 2019

In an unprecedented development, MEPs Rovana Plumb and Laszlo Trocsanyi were rejected by the European Parliament Committee on Legal Affairs over conflicts of interest.

Czech PM Babis criticized Greta Thunberg for being hysterical at UN

Nelly Tomchikova in Prague September 27, 2019

The Czech Prime Minister Andrej Babis (ANO) denounced the speech of 16 year old climate activist Greta Thunberg at the General Assembly of the United Nations calling it “hysterical.”

Hungarian government ready to fight "brandy war" ahead of local elections

bne IntelliNews September 26, 2019

The Hungarian government will fight to reverse a ruling on taxing palinka, the traditional fruit brandy, a popular theme among rural voters where the ruling Fidesz party is expected to secure another landslide.

Two Czech companies among five fastest growing in EMEA

Nelly Tomchikova in Prague September 25, 2019

Czech companies Prusa Research and Kiwi.com are among the top 5 fastest-growing technology companies in Europe, Middle East and Africa region (EMEA).

Estonian police searching for ex-head of local Danske Bank unit

bne IntelliNews September 24, 2019

Police have warned that Aivar Rehe, who headed the branch at the centre of a €200bn money laundering scandal, may be in danger after he disappeared early on September 23.

Czech Prime Minister Andrej Babis falls two places to rank fourth richest man in a Czech-Slovak wealth ranking

Nelly Tomchikova in Prague September 24, 2019

The 2019 ranking of the 50 richest Czechs and Slovaks compiled by the Euro weekly shows some significant changes. While Czech billionaire Petr Kellner remains top dog, the Czech Prime Minister Andrej Babis (ANO) has fallen two spots to number four.

Hiventures partners with Budapest bourse to support IPOs

Levente Szilagyi in Budapest September 20, 2019

State-owned venture capital fund Hiventures will pick companies it deems bourse-ready from its portfolio and ready them for inclusion on the stock exchange's Xtend market.

Quality of life in Czechia higher than in the US, Deloitte study says

Nelly Tomchikova in Prague September 19, 2019

The quality of life in Czechia has overtaken that in the US, according to a new survey from Deloitte in cooperation with NGO Social Progress Imperative. Czech ranks 24th, the US ranks 26th