Central Europe / News

CESEE banks expect credit conditions to tighten and NPLs to rise

bne IntelliNews December 7, 2022

With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.

No confidence motion in Slovakia to be decided by independent MPs

Albin Sybera December 7, 2022

The political crisis comes at a time when unrest is growing at the political chaos and the botched response to the worsening cost of living crisis.

Hungary scraps fuel price cap after panic buying leaves pumps dry

Tamas Csonka in Budapest December 7, 2022

The chaos and the hike in prices are a huge embarrassment to Prime Minister Viktor Orban, who introduced the cap in November last year to ease rising inflation before the election.

Hungary blocks joint EU aid to Ukraine at Ecofin meeting

Tamas Csonka in Budapest December 7, 2022

Budapest has been holding up aid for Ukraine as well as EU approval of a minimum corporate tax as part of an attempt to unfreeze €7.5bn of Cohesion Fund money and €5.8bn of Recovery and Resilience Fund cash.

Czech financial group PPF records loss of €318mn for 1H22 due to exit from Russia

Albin Sybera December 7, 2022

In September the company announced it had completed the sale of Home Credit’s Russian branch and its subsidiaries to Russian-based investors as part of the “process of divesting all Russian assets”.

Latvia revokes Russian opposition TV station Dozhd’s broadcasting licence

bne IntelIiNews December 6, 2022

Following an on-air gaffe, Latvia's National Electronic Media Council (NEPLP) has cancelled Dozhd's (Rain's) licence for threatening national security.

Nerudova gains on Pavel and Babis in Czech presidential race

Albin Sybera December 5, 2022

Former university rector has tweeted that she does not wish to discuss her rivals' (controversial) pasts, "but our future".

Slovak government faces vote of no-confidence next week

Albin Sybera December 2, 2022

The vote comes as public support for the government has collapsed amid political divisions and defections and the perceived failure of the cabinet to get a grip on the worsening cost of living crisis.

Poland scrapes through to World Cup’s last 16 after humbling defeat by Argentina

Wojciech Kosc in Warsaw December 1, 2022

Poland go through group stage for first time for 36 years, with Croatia poised to join them as the only CEE teams to progress.

European Commission clears Hungary RRF plan but links payouts to 'super milestones'

Tamas Csonka in Budapest December 1, 2022

Commission also recommends keeping €7.5bn of Hungary's Cohesion Fund allocation frozen until the country takes steps to address concerns over the rule of law.

Hungary braces for further conditionality terms for release of €13.3bn in EU funds

Tamas Csonka in Budapest November 30, 2022

Commission set to approve Hungary’s plans to use €5.8bn of post-pandemic recovery fund money but it is likely to recommend continuing the suspension of €7.5bn in Cohesion Funds.

Czech presidential candidates reduced to nine after interior minister review

bne IntelliNews November 28, 2022

Twelve out of the 21 candidates who registered for the presidential election by the November 8 deadline were dismissed after the interior ministry reviewed the registrations, leaving all the businessmen heavyweights out of the race.

Hungary’s president visits Ukraine for first time

Tamas Csonka in Budapest November 28, 2022

Among Europeans, the proportion of Hungarians blaming Ukraine for the war is the highest.

Slovenians reject opposition challenge in triple referendum

Valentina Dimitrievska in Skopje November 27, 2022

Voters rejected opposition attempt to scrap changes to laws on public broadcaster RTV Slovenia, government structure and healthcare.

PPF agrees to sell two Home Credit operations in Southeast Asia

Albin Sybera, Robert Anderson in Prague November 25, 2022

Japan's MUFG to pay $615mn for Philippines and Indonesian businesses of PPF's consumer finance brand.

NGOs attack Czech cabinet proposal to give whistleblowers weak protection

Albin Sybera November 25, 2022

Government's belated proposal leaves out protection for anonymous whistleblowing or for whistleblowing of non-criminal transgressions.

V4 leaders meet as EC poised to take unprecedented action towards Hungary

Albin Sybera November 25, 2022

Hungarian premier Viktor Orban reiterated Hungary’s opposition to the EU’s efforts to raise cash for Ukraine on financial markets, and says its parliament will ratify Sweden and Finland's Nato membership in 'a month and something'.

Hungary faces suspension of EU funds, according to German press reports

Tamas Csonka in Budapest November 24, 2022

Budapest said to receive RRF funds but €7.5bn of Cohesion Funds will remain frozen.

Orban sparks diplomatic storm with football scarf featuring Greater Hungary

Tamas Csonka in Budapest November 23, 2022

Ukraine, Romania, Croatia, and Slovakia protested against the gesture, which comes at a time Hungary faces growing isolation in Europe.

EBRD warns of risk of 'zombification'

Robert Anderson in London November 22, 2022

Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.