Hungary
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.
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.
Hungary’s central bank keeps rates steady at 6.5%, reaffirms cautious outlook
The Monetary Council of the Hungarian National Bank left the base rate on hold at 6.5% while keeping the interest rate corridor unchanged at a monthly policy meeting on May 27, fully in line with projections.
Viktor Orban may have lobbied to bring Italian Supercup to Budapest in secret Saudi meeting
Hungarian Prime Minister Viktor Orban met privately with Saudi Crown Prince Mohammed bin Salman in Riyadh in October 2022, just months after MbS took on the role of prime minister.
Slovak PM Fico slams German Merz for his comments on EU taking action against Hungary and Slovakia
Slovakia’s populist Prime Minister Robert Fico slammed German Chancellor Friedrich Merz for stating that Germany could propose EU block the EU funding for Hungary and Slovakia if the two countries diverge from EU policies.
Hungarian banks warn of fallout from Putin-style 'transparency bill' on financial system
Hungarian banks have sounded the alarm over the government's controversial Putin-style 'transparency bill', warning that it is already fuelling capital flight and eroding confidence in the domestic financial system.
Czech PPF bosses are ready to take on Netflix and HBO in PPF’s home markets
PPF executives say the group's local content gives it a competitive advantage over international players in small CEE markets.
Hungary's Viktor Orban escalates anti-Ukrainian rhetoric, citing threat of economic and security collapse
Hungarian Prime Minister Viktor Orban has escalated his campaign against Ukraine's accession to the EU over the past weeks, warning that it would divert vast amounts of funds away from existing members and imperil Hungary's security and economy.
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BLOG: Efforts to tackle methane emissions continue, despite Trump’s regulatory rollback
Momentum behind improved methane monitoring, quantification and mitigation continues to build in the US – even without the same regulatory pressure.
Europe's troublemakers meet in Belgrade
Hungarian Prime Minister Viktor Orban met Serbian President Aleksandar Vucic in Belgrade on May 23, in a display of solidarity between two of Europe’s most defiant political figures.
Hungary's richest see €5bn surge in wealth, with Orban allies among biggest gainers
Hungary’s 100 wealthiest individuals saw their combined fortunes surge by a record HUF2tn (€5bn) over the past year, lifting the total above HUF11tn for the first time, according to the 24th annual edition of the 100 Richest Hungarians ranking.
The EU prepares a Plan B to sidestep Hungary's veto of Ukraine's accession bid
Brussels is preparing Plan B to side step Hungary’s veto of Ukraine’ accession to the EU, European Pravda reported on May 21. The initial legal steps have already been taken, though they remain undisclosed, according to multiple EU sources.
Record temperatures around the world – Statista
A heat wave is sweeping across South Asia, with temperatures having reached 44°C in India’s Jaipur and 50°C in Pakistan’s Shaheed Benazirabad in April, Statista reports.
US envoy urges Europe to reduce reliance on Moscow and Beijing at Budapest security conference
US chargé d'affaires Robert Palladino in a Budapest conference said the US wants Europe to step up and contribute more significantly to Ukraine’s defence, and he wants a Europe that is not dependent on Moscow or Beijing.
Hungarian lawmakers approve withdrawal from ICC
Lawmakers approved Hungary’s withdrawal from the International Criminal Court (ICC) on May 20 with 134 votes in favour and 37 against. The Orban government has become the first EU country to leave the Hague-based institution.
Data centre power use expected to increase 20-fold in next five years
The first data centres consumed as much power as 20,000 homes, but the largest today use the same amount of power as100,000 homes, and are on track to burn up 5mn households' worth of power by 2030 – the same amount of power that Japan consumes.
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Brazil poultry sector hit as bird flu prompts global export bans
Brazil, the world's largest poultry exporter, has confirmed its first outbreak of highly pathogenic avian influenza on a commercial farm, triggering immediate import bans from major markets including China and the EU.
EC slashes Hungary's growth forecast to lowest in region, below tepid EU average
Hungary's economic recovery remains sluggish, with the country projected to significantly underperform its Central European neighbours in both growth and investment, according to the European Commission's spring forecast.
Viktor Orban makes huge political misstep in supporting Simion, Hungarian analyst says
The outcome has been a defeat for Viktor Orban as ethnic Hungarians overwhelmingly supported the pro-European candidate, Nicusor Dan.
Hungarian fertilser maker agrees with bondholders on extending €200mn debt
Hungary’s leading fertiliser maker Nitrogemuvek, owned by businessman Laszlo Bige, has reached an agreement with investors holding 75% of its €200mn bond package on a 60-day extension of the debt after the company missed a deadline last week.