The Austrian lender, which has become more and more reliant on its Russian business over the years, is still rethinking its presence in the country.
Russian pipeline gas flowing to Europe dipped to a record low in January, down 30% compared with supplies in December, while experts warn that there could be significant further downside risk to the country’s deliveries.
wiiw believes that most countries of the region have “probably already digested” most of the economic shock caused by the Ukraine war, provided Russia does not escalate the conflict further.
The weak macroeconomic backdrop and the spectre of possible recession are likely to stifle M&A in the coming months, according to the annual CMS/Emis Emerging Europe M&A Report.
The countries on Nato’s eastern flank believe they are now leading the debate on how to confront the Kremlin, as demonstrated by the row over supplying modern battle tanks to Ukraine.
Referendum initiated by opposition Smer-SD party on shortening parliamentary term fails because of low turnout.
Despite the intense pressure being brought on Berlin to allow Europe’s Nato members to send their advanced Leopard 2 tanks to Ukraine, a summit at the Nato Ramstein airbase failed to approve the measure.
Talks to begin on holding early elections this autumn.
Europe faces another energy crisis that may start in the summer, leading gas and power prices to spike again. Europe won this winter’s battle in the energy war with Russian President Vladimir Putin, but will receive even less gas than last year.
Last year was a disaster for Europe as Putin’s energy war wreaked chaos on Europe’s economies by sending up gas prices 20-fold, fuelling run-away inflation and an energy crisis that drove millions into poverty. Another crisis could be coming.
The European Bank for Reconstruction and Development invested a record €13.1bn into its Emerging Europe and Eurasia region in 2022, the bank announced on January 12.
Hundreds of protesters currently trying to halt the continued development of a coal mine in Germany – which would involve the destruction of the now abandoned village of Lützerath – are putting pressure on the government to phase out coal use.
There is an old joke that the role of economic forecasters is to make astrologers look good. Forecasting GDP or inflation for the upcoming year with any degree of accuracy is virtually impossible, but there are some scary signs appearing.
In a pessimistic scenario, Budapest and Warsaw could once more unite against Brussels, and the region could suffer a new wave of self-defeating populism as the cost of living crisis bites.
Hungary, Czechia, Poland, Slovakia and Romania all plan new reactors and many countries are also looking at small modular reactors for the future.
Plastic waste has become a key issue in the fight against climate change. As experts and activists debate the merits of recycling versus reducing plastics overall, petrochemical companies should speed up their plans to recycle plastic waste.
Eight countries in Europe recorded all-time high temperature records for January on New Year’s Day this year. The following data draws from the visualization of meteorologist Scott Duncan and reports by the BBC, Statista reports.
Major Western banks had already adjusted their regional portfolio allocations back to Central Europe so the Ukraine war has not forced a complete reassessment of business strategies.
The only hope is that after early elections the right will actually start to think about what compromises need to be made to solve the worsening crisis that the country is about to experience.
To reduce carbon emissions, Europe aims to transition travellers from planes to trains. Its extensive rail network and the growing consumer demand for greener transport solutions provide a clear opportunity.