German property prices fall at record rate
Prices are falling fast in the second quarter, but overall, housing costs are still sky-high for Germans
Slovakia: Ukraine’s WTO complaint against grain import ban is unfounded
Slovakia says it will maintain its ban on Ukrainian grains
Romania mulls building massive electricity link to Hungary to export green energy
Romania hopes to be a regional electricity exporter by 2030
Zelensky: Ukraine will respond in ‘civilized manner’ to Poland, Hungary and Slovakia’s grain bans
Ukraine is already planning to sue Hungary, Poland and Slovakia
‘We’re all in the red’ – Siemens head warns China’s wind power industry set to conquer Europe
China could crash Germany’s wind turbine market — a story the German renewable energy sector has already seen play out before
Price gouging: Ukraine and Croatia are charging Hungary enormous transfer fees on oil
Ukraine and Croatia are “abusing their positions,” warns MOL, Hungary’s state-owned energy group
Hungary will maintain ban on Ukrainian grain regardless of EU decision
The current EU import ban expires on Friday
Russia Black Sea blockade: Ukraine redirects grains exports to Adriatic Sea but its proving more costly
Rail transfer to Adriatic ports adds a significant amount in transport costs for Ukrainian grain
Unemployed migrants and Germans have little incentive to work as left-wing government introduces blitz of welfare increases
Germany is pushing for a welfare state while lamenting the lack of people who want to work
Hungary announces €50 million automotive investment
The South Korean-Canadian joint venture will make parts for electric cars
Germany: Record amount of shrinkflation and deceptive packaging helps hide inflation from consumers
Over 1,000 products have utilized deceptive packaging to hide price increases in the last five years
Germany suffering due to obsession with green energy and bureaucracy, industry federation president claims
Federation of German Industries President Siegfried Russwurm criticized the federal government for lacking the courage to break outdated rules
Some BRICS nations want their own currency to replace the dollar, but will it actually happen?
The U.S. dollar boasts a 90 percent share of global foreign currency transactions
Trouble ahead: Shock indicator reveals German economy could be headed towards a crash
Germany entered recession this year, with critics pointing to policies from the country’s left-wing government as fueling the crisis
UK planes are still running on Russian jet fuel, according to new British ad campaign
The campaign is aimed at a loophole in the Russian oil embargo
France extends the lifespan of its biggest nuclear power plant
France is Europe’s largest exporter of nuclear power
German family firm survived WWI, WWII, and hyperinflation, but current government policies are ‘more problematic’ than previous crises
The family firm is 500 years old, but can it survive Germany’s current government?
Dutch economy follows Germany into recession
The Netherlands becomes the latest European country to fall into recession this year
Hungarian watchdog starts probe into Booking.com payment delays
Thousands of guest accommodation providers are waiting for their money
Unlike Europe, China must now fight deflation
Deflation is a recurring problem for the Chinese economy
Ukraine accuses Bacardi of ‘war sponsoring’ after company triples its profits in Russia
Bacardi has been making a killing in Russia throughout the ongoing conflict
German restaurants could lose big as preferential VAT rates expire
12,000 businesses could face failure if the preferential VAT rate is abolished at the end of the year as planned
Dozens of grain ships blocked on Danube after Russian drone attacks
After the Black Sea agreement expired, the Danube remains the main export route for Ukrainian grain
Baltic countries to sever links with Russian power grid
The three small countries are still part of the Moscow-controlled BRELL network
Hungary to welcome up to 300,000 migrant workers under strict conditions to fill gaps in labor market
The migrants, mostly from the Far East and Central Asia, will be issued temporary visas with no permanent right to settle in Hungary
Hungary sees record-high tourism
Foreign tourists continue streaming into Hungary
Russia may hinder Romania’s large-scale offshore gas project
Romania’s potential for energy independence is a thorn in Russia’s side
Hollywood film industry strike could hit Hungary’s GDP
Hungary is the second-largest European location for U.S. studios after London
Germans have ‘moral obligation’ to give up living standards and wealth, claims Green Party MP
Despite Germans facing growing poverty, a high-earning Green Party MP says Germans should give away more of their wealth
Russia has won the oil war
The West doesn’t seem too keen to enforce its $60 price cap on Russian crude
Germans should prepare for ‘tough years ahead’ due to energy transition, Green economy minister warns
The green transition coupled with rising energy prices will slow down the German economy
Chinese firm builds €1.5 billion car battery plant in Hungary
Hungary is on track to double last year’s record foreign investment
Russia targets European wines and Norwegian seafood with import duty hikes
The Russian government is seeking to punish “unfriendly” countries
Hungary will defy Brussels to defend its farmers against Ukrainian grain
The EU ban on Ukrainian grain currently expires on Sept. 15
Hungarian central bank: Adoption of the euro now outweighs benefits of national forint currency
This is a sharp turn in the bank’s euro accession policy
Risk of German de-industrialization is ‘very great’ due to increase in red tape and ‘problematic’ energy transition, leading CEO claims
Toralf Haag, the CEO of Voith Group, sat down with Die Welt to discuss the woes of German industry
Czech national debt soars above 3 trillion crowns for first time in its history
The debt translates to each Czech citizen owing 280,574 crowns
After grain deal collapses, Russia and Turkey discuss Black Sea grain shipments for ‘countries most in need’
Russia says Ukraine used the agreement for commercial gains
Hungary’s Hell Energy drink company launches AI-designed recipe
The secret AI-generated recipe is reportedly kept in a Swiss vault
‘The roof is on fire – Volkswagen in crisis as switch to e-cars destroys profitability
VW’s electric car business has turned into a disaster
Putin warns grain deal may be coming to an end, deal set to expire today as last ship leaves port
The Turkish president says he and Putin are “on the same page” regarding an extension
China’s export ban on green energy minerals hits EU leaders hard
The Chinese move has completely paralyzed the EU leadership, writes Hungarian commentator Béla Ákos Révész
German inflation rises for first time in three months
Food prices remain the leading factor driving inflation
Germany needs 1.5 million migrants per year and they don’t need to speak German, says head of government’s Council of Experts
Migrants need not speak German either, she claims
Italy’s Meloni slams EU central bank’s rate hike campaign
The Italian prime minister said “the medicine is worse than the disease”
‘European taxpayers must not become milk cows’ – Austrian conservatives decry EU’s Ukraine spending bonanza, warn €50 billion will be ‘huge burden’ on citizens
FPÖ MEP asks why the EU is supporting Ukraine to such an extent without the consent of Austrian taxpayers while these taxpayers are forced to accept austerity
‘Cash is freedom and protects against a surveillance state’ – German politicians warn against left-wing interior minister’s new war on cash
“Concerns about organized crime must not be used to enter into mass surveillance of citizens”
Hungary set to become world’s second-biggest producer of this vital technology
Although Hungary is only a country of 9.7 million people, when current investments are completed, Hungary will be the world’s second-largest manufacturer in this field
How the EU plans to control the military industry in each member state
The EU wants a say in how much each member state’s arms companies produce and to what countries those weapons are exported
PM Orbán: Hungary’s economic opening to the East bears fruit
Hungary’s PM meets three key Asian economic players in one day
EU extends ban on import of Ukrainian grains
European farmers get three more months of respite from Ukrainian grain dumping
High inflation sees purchasing power of Czech workers decrease by 7% in a year
The headlines will say wages are up, but the reality makes for different reading
This is what is in Hungary’s 2024 budget
The budget will continue to subsidize utility bills and has a massive increase in military spending
Elon Musk says China and the US are ‘Siamese twins’
This was Musk’s first trip to China in three years
Eurozone remains fragile as recession fears reemerge, ECB review warns
The ECB’s latest financial stability review warned the eurozone cannot afford to be complacent in the face of new challenges and market pressures
‘Cash is printed freedom’ – 530,000 Austrians demanded right to cash payments be added to constitution, but they are being betrayed, says FPÖ
A world without cash would lead to “financially incapacitated” citizens, argues the Freedom Party of Austria (FPÖ)
Germany enters recession after economy contracted by 0.3% in Q1
Germany had initially reported zero growth for the first quarter of 2023, but this has since been revised to a second consecutive quarter of contraction, triggering a technical recession
UK inflation drops below double digits, but soaring food prices remain a cause for concern
Many staple food items are over 30 percent more expensive in British supermarkets than they were this time last year
Germany’s ruling coalition is sacrificing the country’s future and welfare by banning nuclear power, MEP warns
Closing Germany’s nuclear plants was a “totally irrational” move, claims Alternative for Germany (AfD) MEP Steffen Kotré
‘A threat against Hungary’s sovereignty’ – Hungarian foreign minister slams Zelensky’s shocking alleged plan to blow up vital oil pipeline and cripple Hungary’s economy
Zelensky’s plan to blow up a vital oil pipeline for Hungary has sent Hungarian-Ukrainian relations to a new low
Former Czech president joins critics in slamming Fiala’s austerity package
The former Czech head of state called the plans “a disjointed patchwork of more than 50 ideas” that will only fuel citizen dissatisfaction
Hungary blocks Ukraine’s EU weapons funding over Zelensky’s plan to blow up key pipeline to cripple Hungary’s industrial sector
Hungary is retaliating against Ukraine as tensions rise
Former Czech PM Babiš will reverse Fiala’s unpopular austerity measures if reelected
The opposition leader accused Czech Prime Minister Petr Fiala of creating a toxic environment for businesses and workers after announcing a slew of tax hikes
Chinese automotive firms agree to invest €3 billion in Hungary
China should not be treated as a risk, said Hungary’s foreign minister
Hungary outraged by leaked Ukrainian plans to blow up vital oil pipeline
Hungary’s energy security would take a major hit if Ukraine went through with a plan to destroy a key Russian pipeline
Construction production across Czechia dropped sharply in the past year
Fewer houses and roads are being built in the Czech Republic
Fears of German recession grow after sharp decline in industrial output
The automotive sector, considered the jewel of German industry, suffered the largest decline in month-over-month industrial output, down 6.5 percent
Sanctions cut Russian tourism to Hungary to almost nothing
The number of Russian tourists at Lake Balaton dropped to just 5 percent of their pre-Covid numbers
Ukraine puts Hungary’s OTP Bank on ‘international war sponsor’ list
Ukraine is singling Hungary out despite banks from across the West struggling to exit the Russian market
Germany: Green politician calls for unlimited mass immigration and more taxpayer cash to fund migrants
Aminata Touré, who is the integration commissioner for the state of Schleswig-Holstein, wants to see an even more liberal migration and asylum policy in Germany
Dark web raid: Europol arrests nearly 300 suspects, seizes €51 million in illegal funds
The joint operation involved nine countries, including Germany, Great Britain and the United States
EU withholding billions in funding is damaging Hungary’s economy, says Hungarian finance minister
The EU also owes Hungary at least part of the extra costs incurred for border protection, which shields Western Europe from migrants
Green hypocrisy: Germany shuts down its last 3 nuclear power plants only to end up buying nuclear-generated electricity from France
Germany closed all its nuclear plants, but happily buys power from French nuclear plants
German coalition parties still divided over sale of Hamburg port to China, Greens say it was ‘illegal’
The German economic ministry claims the sale was illegal under current German law
8 MEPs issue statement against Ukrainian grain dumping
Solidarity with Ukraine doesn’t mean abandoning our own farmers, according to the MEPs
Germany’s green energy delusion has an enormous environmental and economic price tag
One cannot speak of a green energy shift while increasing CO2 emissions, writes columnist Gergely Kiss in daily Magyar Nemzet
Hungary, Serbia prepare contract to build cross-border oil pipeline to secure Russian oil
Experts say it will be extremely difficult to prepare for the next winter
Battle over Ukrainian grain dumping shows the United States of Europe is moving closer to reality
Protection of domestic markets cannot be left in the hands of the EU, writes Hungarian columnist László Szentesi Zöld
The digital euro could usher in total state control
The digital euro is based on technology that could give the ECB and states extraordinary powers over our lives, writes Thomas Glavinic in Die Welt
UK inflation remains stubbornly high at 10.1%
The figures for March published by the Office for National Statistics (ONS) on Wednesday show the U.K. is now the only country in Western Europe with double-digit inflation
Intel postpones €17 billion chip plant in Germany, demands more money from Berlin as energy costs soar
The German government and U.S. chipmaker Intel both want a partnership on their own terms
Czechia won’t join Hungary, Poland, and Slovakia’s ban on Ukrainian grains
Czechia’s agricultural minister says a ban on food imports from Ukraine would go against the unified European market
Macron admits pension reform is undemocratic, but says he will implement it anyway despite mass protests
Macron has abandoned democracy to enact his controversial pension reform but has faced little criticism from Brussels
Germany closes its last 3 nuclear plants, ending an era of cheap and stable energy
Germans are divided on phasing out nuclear power
French pesticide ban benefits Russia and could lead to hunger in North Africa
The ban will effectively exclude French grain exports beyond the EU
Ryanair CEO slams Hungary’s plan to nationalize Budapest airport
O’Leary says state ownership already destroyed the country’s national airline
Hungary, Poland reject ‘extremely dangerous’ EU natural gas cutback extension
“Brussels is once again stealthily taking powers away from member states,” said Hungary’s top diplomat
French debt remains out of control, but the government’s main issue is that the public doesn’t seem to care
France’s national debt in relation to GDP remains far above its European rivals, and government attempts to address the issue have been met with mass demonstrations and riots
UK’s unexpected inflation spike raises concerns ahead of Bank of England’s interest rate announcement
Despite recent gradual decreases, the cost of living in Britain saw an unexpected rise last month of 10.4 percent year-over-year
‘Macron has taken the Republic hostage’ – As France descends into chaos, Marine Le Pen vows to lower French pension age if she becomes president
After Macron forced the retirement age from 62 to 64, Le Pen says she will allow some workers to retire as early as 60 if elected president
What war? Poland still doing €4.7 billion in business with Russia and is third-biggest exporter to Russia in Europe
Despite Poland’s hawkish war stance and criticism of Hungary’s position on the war, Polish exports worth billions continue flowing into Russia
Russia, Ukraine extend agreement on Black Sea grain exports but differ on length of agreement
The agreement was to expire on Sunday, and an accord was reached on Saturday with Turkish mediation
Inflation soars in Sweden as increase in food prices unmatched in 70 years
Prices for basic foods like eggs and milk rose by as much as 40 to 50 percent year-over-year in Sweden
Hungarian parliament voted best tourist destination in the world
Hungary as a country also boasts a good safety rating
Inflation in Poland reaches record high of 18% in February
According to the central office of statistics (GUS), the rate of inflation climbed to 18.4% in February from its January level of 17.2%
Opening Poland’s market to Ukrainian grain was a huge mistake, says former Polish agriculture minister
Marek Sawicki, former agriculture minister, has said that giving Ukrainian grain free access to the Polish market was a mistake that has cost Polish farmers
‘Hungary belongs to the Hungarians’ – PM Orbán says 500,000 workers needed but future jobs must be filled by Hungarians
Orbán also discussed Hungary’s national budget, the construction of gas-powered plants, and the state of the country’s automotive sector
3 natural gas deposits discovered in Hungary
The new wells will contribute to the country’s energy independence
Romania becomes Ukraine’s largest fuel supplier
Meanwhile, Ukrainian grain exports to Romania are causing problems for local farmers
Hungary moves to protect farmers from cheap Ukrainian grain while EU does nothing
Hungary is working to defend its agricultural market from Ukrainian dumping