The Polish automotive industry grew by over 21.5% last year to hit an all-time high of EUR 39.7bn, Gazeta Wyborcza reported, citing analytics company AutomotiveSuppliers.pl. This is not only the result of an improved economy, but also inflation, the Polish daily wrote. The automotive industry remains a
Hungary has vetoed EUR 500mn worth of arms funding from the EU to Ukraine, Italian media first reported on Monday, which the government spokesperson’s office then confirmed. The funding would be the eighth transfer from the European Peace Framework (EPF) to finance arms shipments to the country since Russia
Former Slovak Central Bank (NBS) deputy governor Ludovit Odor was sworn in as the country’s interim prime minister this week. Odor’s appointment ended six months of political limbo, and he is expected to lead his 15-member caretaker cabinet until national elections are held on 30 September. Watershed moment
Romanian President Klaus Iohannis promulgated the revised law that lays down a “solidarity contribution” from the “excessive profits” of energy companies, on Friday 12 May. The new provisions were much softened compared to the initial version, which was deemed “unconstitutional” by a furious OMV Petrom, the Romanian integrated oil company
Sharply falling energy prices are good news for the population and almost all market segments and the population alike, but large energy companies can be less happy, Hungarian business website Portfolio reported. The explains the price falls as due to an “exceptionally mild” winter and European’s successful decoupling from
The Czech government announced “Czechia in Shape”, a new tax package to reduce the state budget deficit on Thursday 11 May. The package, designed to cut debt by CZK 94bn (EUR 4bn) in 2024 and CZK 150bn in 2025, includes a range of measures such as raising the pension age
Poland’s state-controlled oil company, PKN Orlen, is facing significant losses due to the EU banning Russian crude oil. The company is struggling to find alternative supplies for its Czech refinery and is losing millions of dollars every day, Polish daily Gazeta Wyborcza reports. PKN Orlen CEO Daniel Obajtek told
The Council of the European Union will send another EUR 1bn in support for ammunition and missiles for Ukraine as it increases the financial ceiling of its European Peace Facility (EPF) to EUR 7.98bn, it announced Friday, 5 May. The assistance under the EPF will further contribute to strengthening
The purchasing power of salaries in Hungary is falling due to record-high inflation, local business outlet Portfolio reported, citing the “devastating picture of consumption” in recent data from the Hungarian Statistics Office (KSH). At the beginning of 2023, the purchasing power of earnings fell 7-8% in Hungary, after wage increases
The European Commission (EC) will propose a law to speed up weapons production in Europe, EC President Ursula von der Leyen said after a meeting with Czech President Petr Pavel in Prague on Tuesday, 2 May, Czech daily Hospodarske noviny (HN) reported. She said in a statement: “I am glad
Poland has signed with the UK a GBP 1.9bn export agreement to roll out a British short-range air defence system, the latter government announced on Friday, 28 April. According to the agreement, the UK will equip Poland with 22 air defence batteries with UK Common Anti-Air Modular Missiles (CAMMs)
Estonia had the highest employment rate in Central and Eastern Europe (CEE) of 81.9% in 2022, according to the recently released data of the EU statistics agency Eurostat. Just behind the Baltic country were Czechia, with 81.3%, and Hungary (80.2%). The middle grouping of the EU member
“There will be more and more renewable energy in Poland and other European countries,” E.ON Polska president Andrzej Modzelewski said in an interview with Gazeta Wyborcza published on Saturday, 29 April. The energy company executive told the Polish daily that “at E.ON, unlike at other operators, we are
Agriculture Minister Zdenek Nekula is right when he says Czech farmers are overplaying the role of Ukrainian wheat on their current travails, according to analysts cited by Czech business daily Hospodarsk Noviny (HN). In contrast to Poland, Slovakia, Bulgaria and Hungary, Czechia has rejected the idea of banning imports from
Poland’s pursuit of nuclear energy took another step forward last week as Polskie Elektrownie Jadrowe (PEJ) applied to the Polish Climate Ministry for a “decision-in-principle” on the construction of the country’s first large nuclear power plant. The decision would confirm that the investment in the plant is in
Czech President Petr Pavel called for a “joint and balanced” strategy between the US, Europe, and other democracies to address China’s growing economic and political power while avoiding divisive lines between them, on Friday 21st April. During a visit to Brussels, Pavel discussed EU-US-China relations with European Council President
Romanian Minister of Agriculture Petre Daea expressed solidarity with farmers from Poland, Hungary, Bulgaria and Slovakia – who all unilaterally stopped Ukrainian farm imports last week – after meeting his Ukrainian counterpart Mykola Solsky on Friday, 21 April, digi24.ro reported. However Daea said “we must make the rules together, not enter
Czechia’s largest investment group PPF has acquired internet and television content provider Nej.cz from billionaire Karel Prazak’s Kaprain group. PPF made the purchase of Nej.cz, which has almost a quarter of a million active customers, through its Cetin concern, Hospodarske noviny (HN) reported. Prazak sold Nej.
Slovakia has donated 13 MiG-29 fighter jets to the Ukrainian forces, Slovak state news agency TASR reported on the morning of Monday, 17 April. The transfer of the last nine Soviet-era fighters, aimed at supporting Ukraine in its defence against Russian military aggression, was completed recently, after the initial four
The EU’s mooted ‘critical raw materials (CRM) law’ would strengthen the EU’s autonomy by reducing its reliance on third countries for the supply of essential minerals for green energy and modern industry. Proposed recently by the European Commission (EC), the legislation would mean the reopening of mines earlier
Croatia had the highest share of tourism in total gross value added (GVA) at 11%, EU statistics office Eurostat finds in a newly released report entitled “Tourism Satellite Accounts in Europe”. GVA is output produced after deducting the intermediate value of consumption, or gross domestic product added to product subsidies,
Poland and Hungary have temporarily ceased importing Ukrainian grain and other agricultural produce, defying warnings from the EU that unilateral action would violate its trade policy. Following Poland and Hungary, the Slovak government also announced that it would temporarily restrict the import of grain and other products from Ukraine, citing
Polish energy giant Orlen announced the completion on Friday 7 April of the process of implementing remedies, and Lotos Terminale finally becoming the property of fuel importer Unimot. The sale was the last stage in the implementation of conditions set by the European Commission (EC) for merging Orlen with Lotos,
Farmers are organising protests across Romania on Friday 7 April to express dissatisfaction with the European Commission (EC) approach market distortions caused by the war in Ukraine, local website digi24.ro reported. A joint statement of Romania’s four main farming federations said they were sending “a new appeal to
The EU has reached a provisional agreement on increasing the number of charging stations for electric vehicles (EVs) and alternative fuels, as it seeks to reduce the transport sector’s carbon footprint, Romanian outlet digi24.ro wrote. The deal will send a clear signal to EU citizens that easy-to-use recharging