Hungarian government paid Wizz Air €14mn to fly in PPE from China

Tamas Szilagyi in Budapest July 6, 2020

Foreign ministry reveals cost of bringing medical equipment to Hungary— but won't comment on why the government picked Budapest-based no-frills airline for the flights rather than specialised cargo carriers.

Economic sentiment in CEE picks up in June, but still deeply depressed

bne IntelliNews June 29, 2020

The economic sentiment indicators started to pick up again in June across Central and Eastern Europe (CEE), but there are big differences between the countries as they start to recover from the coronacrisis at their own speeds

Romanian online retailer eMAG begins expansion in Hungary

bne IntelliNews June 25, 2020

Romania's largest online retailer plans to open three more showrooms in Hungary and reach a turnover of €300mn in the country.

VISEGRAD BLOG: Returning migrants but no COVID baby boom for emerging Europe

Clare Nuttall in Glasgow June 23, 2020

What does the coronavirus pandemic mean for the region's dismal demographics?

Hungary's central bank surprises market with first rate cut in four years

Tamas Szilagyi in Budapest June 23, 2020

The central bank's goal is to stimulate the economy, benefitting from disinflationary trends and the easing of volatility on global markets.

Global pandemic is boon for ESG funds, outperforming their brown peers

Ben Aris in Berlin June 22, 2020

The coronavirus (COVID-19) pandemic has been a boon for environmental, social and governance (ESG) funds, 85% of which are now outperforming their non-ESG peers, according to a paper released by the Institute of International Finance (IIF)

Illicit cigarette consumption declines in eastern EU states

Clare Nuttall in Glasgow June 20, 2020

KPMG report says fewer contraband cigarettes flowing into the EU, but growth in illegal factories within the bloc.

Emerging Europe banks face surge in distressed loans when COVID support measures expire

bne IntelliNews June 18, 2020

Vienna Initiative report warns banks heading for a "cliff-edge effect of new distressed borrowers", followed by successive waves of new NPLs.

Hungarian MPs vote to end government’s special powers

bne IntelIiNews June 17, 2020

Budapest adopted legislation granting extraordinary powers to the government for an unlimited period raised concerns about future of democracy and fundamental rights in Hungary.

VISEGRAD BLOG: The COVID-19 pandemic may actually strengthen Central and Eastern Europe's position in Europe

Marek Belka and Piroska Nagy-Mohácsi of the LSE June 16, 2020

The COVID-19 pandemic may actually strengthen Central and Eastern Europe in relative economic terms to the rest of Europe, argue Marek Belka and Piroska Nagy-Mohacsi (LSE), with Poland being one of the big winners

CEE banks heading for one of their worst crises in 10 years

Clare Nuttall in Glasgow June 15, 2020

Post-COVID-19, banks in Central and Southeast Europe expect demand for financing to contract sharply, credit standards to tighten and an increase in NPLs, a new EIB survey shows.

Central and Southeast Europeans have highest tolerance for corruption among EU members

bne IntelliNews June 14, 2020

People from the new EU member states that joined from 2004 onwards are more likely to think it is acceptable to do a favour, give a gift or give money to get something from a public administration, shows a new survey from Eurobarometer.

Hungary’s automotive industry output plunges 80% in April on shutdowns

bne IntelIiNews June 13, 2020

Suzuki, Daimler and Audi closed their Hungarian operations in April. The three companies have a combined 5% share of the country's GDP.

Hungary's richest man retains title with net worth of €900mn

bne IntelliNews June 13, 2020

Chairman-CEO of CEE's leading bank OTP, Sandor Csanyi, who also has vast interests in agriculture and the food industry, retained his position as Hungary's richest man.

Emerging markets enjoying their strongest crisis bounceback ever

Ben Aris in Berlin June 11, 2020

Emerging markets (EM) stock markets are enjoying their strongest crisis bounceback ever, as coronavirus (COVID-19) infections stabilise and governments remove two-month-long lockdowns.

bne's Despair Index paints a mixed picture during the corona storm

Ben Aris in Berlin June 9, 2020

We have updated bne IntelliNews Despair Index, which better reflects what damage something like the coronacrisis does to the bottom half of society in the countries of New Europe. While the index has ticked up, the damage is limited so far.

Hungarian tourism collapses in April

Tamas Szilagyi in Budapest June 7, 2020

Hungary's tourism sector had a record year in 2019, but suffered an immediate blow after border restrictions were introduced from mid-March. Industry insiders say it will take years to recover.

Hungary moves to online invoicing to combat shadow economy

Tamas Szilagyi in Budapest June 7, 2020

Measures to reduce the size of the shadow economy have produced significant benefits already. The value-added tax gap is estimated to have decreased from 21% in 2013 to around 9% in 2018.