Hungary

Windfall taxes imposed by Hungary to assist plug the government's budget deficit are requiring business to pay more for nothing, the president of energy group MOL said on Sunday. MOL is Hungary's most significant business profits earner and CEO Zsolt Hernadi's remarks come two weeks after Prime Minister Viktor Orban's government extended windfall taxes on some sectors to increase public revenue. Hungary has had a hard time to contain its budget deficit because the COVID-19 pandemic, with the shortage averaging nearly 7% of economic output over the previous 4 years, well above European Union typical levels. This month, Orban's federal...

Hungarian stateowned energy corporation MVM will buy a 5% stake in Azerbaijan's Shah Deniz gas field, it said in a statement on Wednesday. Hungary, a landlocked nation, has been importing natural gas primarily from Russia even after its intrusion of Ukraine in 2022, which led many European nations to look for option sources of energy materials. Obtaining a stake in this gas field offers us (Hungary) a. defense from big energy cost swings, Hungarian Foreign. Minister Peter Szijjarto stated previously in the day in Baku during. a joint press conference with his Azeri counterpart, revealing. the acquisition. As Azerbaijan is...

Proposed new European sanctions targeting transhipments of Russian melted natural gas (LNG) are not likely to effect Asian purchasers, Kadri Simson, European Commissioner for Energy, told reporters in Tokyo on Monday. As part of a 14th package of sanctions on Russia over its war on Ukraine, the European Union proposed to ban re-loading services by EU facilities for trans-shipment of Russian LNG to third nations. This does not impact imports into the EU. The EU would likewise ban new investments and the provisions of goods, innovation and services by EU operators for the completion of LNG jobs under building such...

Hungary's federal government has chosen to fine-tune a formula imposed on fuel traders to suppress costs, omitting some central European countries from the basis of contrast, Prime Minister Viktor Orban informed public radio on Friday. Orban's government said recently it was providing fuel traders two weeks to adjust their rates to the central European average, as part of a wider federal government price-setting intervention following last year's inflation rise. Nevertheless, in an evident action back from the pressure used on fuel traders, Orban stated the government was now focused on bringing prices in line with those in neighbouring nations, omitting...

Hungary's federal government is providing fuel traders two weeks to change their rates to the central European average, Economy Minister Marton Nagy was priced quote by the index.hu outlet as telling a news conference on Wednesday. Prime Minister Viktor Orban's government ditched a fuel rate cap in December 2022 after a lack of imports and panic purchasing resulted in sustain scarcities, but guaranteed it would intervene again if fuel rates increased above the regional average. On Tuesday, the nationwide bank said fuel rate margins had actually expanded because the cap was ditched, going beyond not just their previous levels however...

Hungarian Prime Minister Viktor Orban's cabinet will talk about fuel rates again on Wednesday regardless of a recent fall in rates driven by federal government pressure on traders to line up costs with levels in other places in the region, the economy minister stated. Orban's federal government ditched a fuel price cap in December 2022 after an absence of imports and panic purchasing resulted in scarcities, however earlier this year raised the possibility of another intervention if fuel rates go beyond the central European average. Shares in Hungarian energy group MOL have actually fallen about 1% considering that the federal...

White wine maker Csaba Torok, who grows olives on Hungary's warm southern slopes near Lake Balaton, thinks his trees from southern Europe have discovered an effective new home as Europe's environment gets warmer. Torok, 55, got his first three little olive trees from Spain around 2008. 2 froze to death the first winter but one endured, triggering Torok to purchase around 200 more throughout the years to plant in his vineyard on Hegymagas, a volcanic butte development with bright slopes, ample rain and abundant soil. I see these trees as an integral part of the future landscape here, Torok said,...

Climate change has actually made rainstorms like the one that caused terrible floods in main Europe this month two times as most likely to take place, a report stated on Wednesday, as its clinical authors prompted policymakers to act to stop international warming. The worst flooding to strike main Europe in a minimum of two years has actually left 24 individuals dead, with towns scattered with mud and debris, buildings damaged, bridges collapsed and authorities entrusted to a bill for repair work that faces billions of dollars. The report from World Weather condition Attribution, a global group of researchers that...

Hungarian farmer Laszlo Batki was close to harvesting his crops of organic tomatoes, peppers, radishes and lettuce when the swollen River Danube flooded the majority of his small plot simply north of Budapest this week. Batki's vegetables required carefully supporting during a. summer season afflicted by drought, and then the floods struck. With. little bit delegated salvage, he stated he would make a huge loss this. year. This implies a loss of earnings ... likewise, we can't plant new. crops as previously planned, and we can't begin preparing the. soil for next year, the 36-year-old stated, standing in water up....

One individual drowned in southwest Poland and thousands were evacuated across the border in the Czech Republic as heavy rains continued to damage main Europe on Sunday, causing flooding in numerous locations. A firemen taking on flooding in Lower Austria was also eliminated, Austrian Vice Chancellor Werner Kogler said on Sunday on social platform X as authorities stated the province, which surrounds Vienna, surrounding the Czech Republic and Slovakia, a. hot spot. Rivers overflowed from Poland to Romania, where 4. people were discovered dead on Saturday, after days of torrential. rain in a low-pressure system named Boris. Some parts of...

At least 4 individuals passed away and thousands of homes were harmed by flooding in eastern Romania on Saturday, officials stated, as rising river levels put authorities on alert in much of central and eastern Europe following days of downpour. More rainfall is forecast in the coming days in the Czech Republic, Poland, Slovakia, Hungary, southern Germany and parts of Austria, leading officials in some high-risk locations to implement emergency flood preparations. Citizens of some towns along the Czech-Polish border were left as rivers rose past alert levels while the Czech capital, Prague, which suffered disastrous floods in 2002, put...

A group of Hungarian lawmakers and agents of NGOs fulfilled on Wednesday on a driedout sandbank of the nation's 2nd river after the Danube to highlight the serious impact of a dry spell in July and August that damaged key crops. Water levels in the Tisza river dropped sharply after repeated heatwaves which likewise struck other European nations in what the EU's environment change tracking service states was the northern hemisphere's hottest summer season because records began. In Poland, the level of its longest river the Vistula, have been up to a record low, the meteorological workplace stated, leaving sandbanks...

Hungary's hottest July on record has actually forced a few of the nation's wine makers to begin gathering grapes in early August, approximately a month earlier than typical. Environment modification is having a serious effect on Hungary's. well-known winemaking industry, as increasing temperature levels might make. the country too hot for producing white wine, consisting of the. renowned Tokaji, researchers say. I do not remember ever gathering this variety of grape. this early ... we are at least a month early, said Laszlo Kerek,. a 35-year-veteran of grape growing in Balatonlelle, south of. Lake Balaton in western Hungary. Kerek, who...

A group of protesting Hungarian farmers lead two camels through downtown Budapest on Thursday, heading to the farm ministry in a quote to raise awareness of the severe impact of environment change on Hungary's. agricultural sector. The link between camels and the desert is apparent, demonstration. organizer Laszlo Kulcsar stated. That is why we considered this. idea to utilize camels to highlight the desertification of the. country. Environment modification postures an increasing hazard to Hungary,. specifically the main Homokhatsag region, a crucial. agricultural zone producing corn, grain and sunflowers,. researchers have alerted. The sector has suffered billion-dollar. losses in recent...

The European Commission is seeking more info on Hungary and Slovakia's request that it moderate a consultation treatment with Ukraine over interfered with oil flows from Russia, and has actually declined a threeday due date to respond to the nations' problem. Hungary and Slovakia wrote to the Commission on Monday, asking Brussels to action in after Kyiv positioned Russian producer Lukoil on a sanctions list, stopping supplies to the two countries through a pipeline that crosses Ukraine. Hungary's foreign minister Peter Szijjarto had said the European Commission had three days to react, after which the nations would take the concern...

The European Commission has actually drafted plans to initially exempt longhaul flights from rules on monitoring their nonCO2 emissions after global providers lobbied for an optout, files seen revealed. The EU is developing plans to require airline companies to track and report their contribution to environment change from January 2025 - not just from carbon dioxide, but likewise soot, nitrogen oxides and water vapour. Airlines' non-CO2 emissions add to global warming at least just as much as their CO2 output, according to the EU's. air travel security authority. A draft Commission proposition for the new guidelines, seen by. , would...

Renewable energy producer Rezolv Energy and British tidy power financial investment firm Low Carbon have actually secured loan centers of up to 291 million euros ($ 314. million) to finance the construction of an onshore wind farm in. Romania. The consortium of lenders included Erste Group, UniCredit. Group, the European Bank for Reconstruction and Advancement, as. well as the International Finance Corporation, Intesa Sanpaolo. Group, OTP Bank, Raiffeisen Bank International AG and Garanti. BBVA Romania. The first stage of the so-called VIFOR project in north-east. Bucharest will set up 192 megawatts (MW) of capacity and should. come online before the...

From his workplace in a. remote annexe, French rightwing lawmaker JeanPaul Garraud has. his sights set on a spot much closer to the decisionmaking. heart of the European Parliament. The chair of France's Rassemblement National (REGISTERED NURSE) lawmakers. anticipates nationalist and eurosceptic celebrations to surge in the June. 6-9 EU assembly election, providing a first taste of impact. in Brussels and Strasbourg, if other right and centre-right. parties work with them. Polls forecast extreme ideal celebrations will acquire throughout the EU,. consisting of France, Germany and Italy where lots of seats are at. stake, as voters annoyed by a cost...