Central Europe / News

Builder of Tallinn-Helsinki tunnel signs MOU with three Chinese contractors

Wojciech Kosc in Warsaw July 17, 2019

The Chinese financing company Touchstone Capital Partners is providing €15bn funding for the project that will become part of Beijing's Belt and Road initiative to link Asia with Europe.

Hungarian investors redeem savings from investment funds to buy new superbond

bne IntelliNews July 17, 2019

Investment funds recorded a record outflow of capital in June as households ploughed their savings to the new Map Plus retail bonds, which offer the highest returns at all stages of maturity.

Home Credit files for Hong Kong public offering

Nelly Tomcikova in Prague July 15, 2019

Consumer lender majority owned by Czechia's richest man Petr Kellner mulls Hong Kong listing that could raise more than $1bn.

Budapest Pride march ends peacefully as far-right protesters sealed off

bne IntelliNews July 8, 2019

For the first time pride participants were able to march without police cordons, while a group of counter protesters was kept away from the march by police.

Plane war: Czechia and Russia ban each others flights only to reinstate them the same day

Nelly Tomcikova in Prague July 3, 2019

The Russian Ministry of Transport unilaterally banned Czech airlines Ceske Aerolinie (CSA) from flying over Siberia on the Prague-Seoul route prompting Czechia to ban Russian flights to Prague

The biggest banks in the Czech Republic to support investments instead of paying sector taxes

Nelly Tomcikova in Prague July 2, 2019

The biggest banks in the Czech Republic, Ceská Sporitelna, CSOB bank, Komercni Banka and UniCredit bank confirmed that they are ready to invest up to CZK7bn (€274.9mn) in the National Development Fund

South Korean e-car battery maker to set up new plant in Hungary

Levente Szilagyi in Budapest July 1, 2019

Hungary wins yet another investment amidst stiff competition, bringing it one step closer to an annual HUF10 trillion in automotive industry production, he added.

Russian-born UK banker sells stake in Latvian boutique bank linked to regulatory controversies

bne IntelliNews July 1, 2019

PNB, earlier named Norvik, was at the centre of the controversy that embroiled Latvia’s central bank governor Ilmars Rimsevics in early 2018 and which has continued to haunt Latvia since.

Seven New Europe members of PACE walk out in protest against Russia’s readmission

Ben Aris in Berlin June 27, 2019

The decision has split the Council down the middle. Almost all of the western European members voted overwhelming to allow Russia back in. However, countries close to the Russian border voted against readmission.

Czechia's CTP takes €1.9bn loan to close CEE's largest ever real estate transaction

bne IntelliNews June 26, 2019

New loan significantly simplifies the company’s previous financing arrangements, securing funding of its industrial portfolio over the mid-term.

Labour shortages and costs halved the FDI in the Czech Republic in 2018

bne IntelliNews June 26, 2019

Foreign investors find it "extremely difficult" to find an available and qualified labour force in the Czech Republic, which discourages them from investing, says EY M&A specialist.

E.ON offers its assets in Czechia, Hungary and Germany for sale to overcome EC concerns over Innogy

bne IntelliNews June 26, 2019

German energy company E.ON offered to sell several assets to overcome the concerns of the European Commission over its bid for competitor Innogy’s network and retail assets.

Poland’s Supreme Court reform breaches EU law, the bloc’s top court rules

Wojciech Kosc in Warsaw June 25, 2019

Poland dropped the contested changes in December, but the European Commission pressed on with the case to enshrine in the EU’s legal order that any member state’s tinkering with the independence of the judiciary must be contained.

More than 250,000 gather in Prague for anti-government protest

Nelly Tomcikova in Prague June 24, 2019

A series of protests against the Czech Prime Minister Andrej Babis and his minority government culminated on June 23 with the biggest mass protest in Prague since the Velvet Revolution in 1989. More than 250,000 people gathered on Letna plain.

CEE states block EU ambitions to go carbon neutral by 2050

Wojciech Kosc in Warsaw June 21, 2019

A group of Eastern European member states said no to a carbon neutrality goal without guarantees that the cost of reducing emissions is offset to lessen the impact of the transition on their economies.

Czech energy company CEZ exits Bulgaria, faces a lawsuit from the Pirates at home

bne IntelliNews June 21, 2019

The Czech state-owned energy company CEZ Group sold its assets in Bulgaria to the local Eurohold company for €335mn after an earlier deal was blocked by regulators.