Search Results for: Hungarian

BY KEITH NUTHALL

THE SIZE of the planned international investment in Ukraine’s gas distribution system has been revealed in a European Bank for Reconstruction & Development (EBRD) memorandum: up to US$3 billion maybe pumped in. Money would start flowing with a US$300 million working capital loan from the EBRD for purchasing gas, repayable after this winter heating season.…

BY KEITH NUTHALL

INTERNATIONAL talks are underway to secure Ukraine funding to pay Russia for natural gas to ensure deliveries to Europe can be guaranteed this winter.

The European Commission, the International Monetary Fund (IMF), the World Bank, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have been meeting with Russian and Ukraine officials to head off a repeat of last winter’s supply crisis.…

BY KEITH NUTHALL

THE UKRAINE government has secured a major loan package designed to secure its reliability as a winter suppler of gas to Europe through improving its gas storage and distribution. The European Commission welcomed the deal, which it helped broker.…

BY KEITH NUTHALL

THE EUROPEAN Union’s (EU) RAPEX consumer alert service has warned of another dangerous candle product designed to look like a sweet treat: in this case nine candles in various forms imitating pastries. They were made in China and were detected and withdrawn from sale by Hungarian consumer authorities.…

BY KEITH NUTHALL

THE DEPENDENCE of the European Union (EU) on imports to meet oil supply needs will rise to 95% by 2030, a European Parliament report has claimed. This will expose the EU to strategic dangers through buying oil from unstable or potentially hostile countries in the Middle East and from Russia, it warned.…

BY ALAN OSBORN

The European Commission has added three new items to its lists of quality food products with protected designation of origin (PDO) and protected geographical indication (PGI) rights, namely Hungarian salami – "Budapesti téliszalámi," Polish cheese – "Wielkopolsky ser sma?ony"…

BY KEITH NUTHALL

THE EUROPEAN Commission has announced it wants Euro 3.5 billion of the general European Union (EU) economic recovery plan it announced in November spent on energy investment. It has proposed spending Euro 1.75 billion on gas and electricity interconnection projects; Euro 500 million on offshore wind power; and Euro 1.25 billion on carbon capture and storage.…

BY MARK ROWE

FOLLOWING the extended frenzy that saw multinational companies move into eastern Europe in the 1990s and early 2000s, several markets in the region are approaching the maturity of western Europe. And while Russia lags behind in general terms, the micro-economies of Moscow and St Petersburg are similarly saturated by high-end brands and developed consumer choice and tastes.…

BY CHRIS JONES

EUROPEAN Union (EU) telecommunications Commissioner Viviane Reding faces significant opposition to her proposals for increasing the European Commission’s power of veto over national telecoms regulations (NRAs) and the creation of a new Europe-wide regulatory agency.

NRAs in the 27 member states, which together form the European Regulators’ Group (ERG), have made it quite clear that any attempt by Reding to undermine their authority will face fierce resistance.…

BY KEITH NUTHALL

MERCEDES-BENZ can now push ahead with building a new manufacturing plant in Hungary, having secured permission from the European Commission to receive Euro 111.5 million in cash and tax breaks from the Hungarian government. The money will help Mercedes-Benz Hungary meet the Euro 800 million cost of building a plant in Kecskemét, the Dél-Alföld region.…