Romania

UNCHAIN Fintech Festival 2024 in Nagyvárad-Oradea: finance meets future in CEE

unchain fintech festival 2023

This summer, Oradea (Nagyvárad, Romania) isn’t just a city – it’s the beating heart of fintech innovation in Central Eastern Europe (CEE). The UNCHAIN Fintech Festival is back, transforming the historic fortress into a dynamic hub where the future of finance and technology converges in a spectacular outdoor setting. With an agenda packed with high-quality content, interactive sessions, and networking opportunities, this event is where the future of fintech is shaped.

A Festival Like No Other

Imagine a place where the financial industry’s brightest minds and leading technology providers converge. That’s UNCHAIN for you.

With four content stages, three interaction areas, and more than three parties and private events, we’re setting the stage for a festival that’s as informative as it is enjoyable.

Incredibly beautiful Nagyvárad (Oradea):

Hot Topics on the Table

This year’s discussions will cut to the core some of fintech’s best topics:

  • Payments 3.0: a leap towards more seamless, instant, and interoperable payment methods, integrating technologies like blockchain and real-time payments.
  • AI in Finance: how AI and machine learning algorithms are being used to predict market trends, enhance customer service through chatbots, and streamline operations.
  • Open Finance: the potential for innovation in data sharing and connectivity between banks, fintech, and other financial institutions.
  • Digital Transformation: the adoption of digital technologies to modernize operations, improve customer experiences, and create new business models.
  • Regulation: the latest developments in fintech regulation keeping pace with the ever evolving fintech landscape.
  • Insurtech: paving the way for a more efficient, accessible, and customer-centric insurance industry and leveraging the latest technologies to solve longstanding challenges in the sector.
  • Digital Banking: the evolution of neobanks, the integration of financial services into non-financial platforms and how new technologies are enabling banks to offer more personalized, efficient, and secure services.

Who You’ll Meet

With over 50 international speakers from more than 30 countries and 40+ sessions, the festival promises rich insights and perspectives that span the entire spectrum of financial technology and innovation.

Speakers hail from the highest structures of central banks, leading fintech firms, and technology companies. They bring with them a wealth of knowledge and experience, ready to go into the most pressing issues and exciting opportunities facing the financial sector today.

Joining the dialogue will be 500+ business delegates representing 250+ unique companies, making UNCHAIN not just an event but a nexus for networking and collaboration. The festival boasts an impressive 70% representation from the banking and financial industry, including CEOs, upper management, and key decision-makers.

Ecosystem Players & Innovators

From the fintech ecosystem growth network to the most disruptive CEE fintech startups, UNCHAIN is a melting pot of innovation.

Attendees will have the chance to engage with:

  • Banking and Financial Institutions
  • Fintech Innovators
  • Technology Providers
  • Professional Services Firms

Why You Can’t Afford to Miss It

UNCHAIN Fintech Festival isn’t just another conference. It’s a unique opportunity to go into the heart of financial innovation, surrounded by the old walls of Oradea Fortress. It’s where casual conversations turn into innovative ideas and where the future of fintech is not just discussed but shaped.

Join The Discussion

Ready to be part of the future of finance? Tickets are flying off the shelf. Secure your spot at the UNCHAIN Fintech Festival on 19-20 June 2024 and be where the world of finance meets the future. Visit the website for more information.

Read also:

  • Here are the top festivals in 2024 in Hungary – PHOTOS and more in THIS article
  • Hungarian national bank governor attacks Hungarian government in unprecedented way

PHOTOS: Culture Palace of Marosvásárhely became sublime

Culture Palace of Marosvásárhely became sublime

Marosvásárhely (Târgu Mureș) is one of the cultural and educational centres of the Hungarian community living in Transylvania, Romania. Now, the astonishing Culture Palace of the city has been beautifully renewed. Check out the details and some photos in our article below.

According to turizmus.com, the iconic Culture Palace of Marosvásárhely was inaugurated this Thursday. The restoration and renovation work lasted four years, and thanks to that, one of the most scenic Transylvanian monuments can shine in its original glory.

Culture Palace of Marosvásárhely became sublime
Photo: MTI

The Art Nouveau-style palace in the city’s main square is iconic in Marosvásárhely. Ferenc Péter, the President of the Assembly of Maros County, said that the project required extreme caution not to harm the building in any way.

Building the palace was the dream of Marosvásárhely’s Mayor György Bernádi, who led the city between 1902–1912 and 1926–1929. Mr Péter said their task was to preserve it and renew it, meeting the requirements of this age. Interestingly, the work was financed by the county assembly and the European Union. The EU support was EUR 1.2 million from the project’s EUR 2.2 million cost.

The palace is an outstanding masterpiece of the Central European Art Nouveau

He said they should fill the palace with heartwarming performances. He also expressed hope that the building would be in its place even one hundred years later.

Bulcsú Ötvös Koppány, the director of the Maros County Museum, said that the palace has been serving cultural purposes for 111 years. Now, it shines in its former glory again.

Culture Palace of Marosvásárhely became sublime
Photo: MTI

Art historians regard the palace as one of the outstanding masterpieces of the Central European Art Nouveau. Even Viennese papers praised its beauty then.

The building hosts a museum, a library and a Philharmonic Orchestra.

Culture Palace of Marosvásárhely became sublime
A glass window of Ferenc Liszt in the palace. Photo: MTI

The subcontractor renewed the main facades of the building with its roofs. They replaced the broken tiles with products from the Zsolnay Porcelain in Pécs, the original supplier. In the mirror room, they renewed the interior and mended the organ. The glass windows depict Szekler sagas and legends.

Read also:

  • Check out the 8 most beautiful castles near Budapest – Read more and check out the photos HERE
  • Hungarian Renaissance palace beautifully restored and open to visitors – Details and photos in THIS article

Here are some more photos:

Culture Palace of Marosvásárhely became sublime
Photo: MTI

BREAKING: Hungarian Wizz Air launches six new flights from Budapest! – UPDATED

Wizz Air plane Ukraine All You Can Fly

Based on information shared by a Hungarian air travel news portal Facebook page, Wizz Air is set to launch six new flight routes from Budapest to various European destinations. Here’s what we already know about this exciting announcement.

According to Budflyer, Wizz Air is gearing up to start operations on these new routes starting from June, connecting Budapest to several European cities.

To Yerevan, Armenia, Wizz Air will operate three flights per week, with the first flight scheduled for 17th June. Ticket prices will start from EUR 41.4, as reported by Pénzcentrum.

The additional destinations and their respective details are as follows:

  • Brussels, Belgium (from 19 June with five planes per week, tickets starting from EUR 41.4),
  • Brassó-BraÈ™ov, Romania (Brasov, from 18 June, three times a week, tickets starting from EUR 15),
  • Bucharest Otopeni, Romania (from 17 June every day, tickets starting from EUR 25.5),
  • Stuttgart, Germany (from 18 June, five times a week, tickets starting from EUR 25.5),
  • Valencia (from 17 June, three times a week, tickets starting from EUR 31.2).
According to the travel news Facebook page, these new flights are already available for booking through the Hungarian budget airline’s system. The announcement comes as a surprise, considering Wizz Air‘s recent focus on addressing issues with Pratt & Whitney engines, resulting in several grounded planes awaiting maintenance. We detailed these issues in our previous article HERE.

We will continue to update this article as more information regarding the expansion becomes available.

Wizz Air figures

In addition, Pénzcentrum reports that the Hungarian low-cost carrier will increase flight frequencies between Paris and Budapest leading up to and during the Olympic Games and European Championships. Daily flights between the two capitals are planned from 16th June to 30th September. They also mentioned plans to transport gold medallists on their dedicated “Gold Plane” using their newest and most modern aircraft for these events. József Váradi, Wizz Air’s CEO, announced in a morning press conference that two more planes will be arriving in Budapest this summer. Mr Váradi added that in 2023, the airline experienced a 32% growth with 60.3 million passengers.

UPDATE: Wizz Air announces frequency boosts to European destinations from June

In a recent announcement, Wizz Air, the Hungarian low-cost carrier, touted as Europe’s fastest-growing and most environmentally sustainable airline, disclosed its plans to enhance its service offerings. The airline revealed intentions to integrate two state-of-the-art Airbus A321neo aircraft into its Budapest fleet by June, expanding its fleet to 16 planes in Budapest and an additional aircraft at Debrecen International Airport.

This expansion marks a significant milestone for Wizz Air, catapulting it to unprecedented fleet size and consolidating its position as the foremost market leader in Hungary, boasting a 38% share.

Apart from the aforementioned six new destinations, Wizz Air will increase flight frequencies to several European destinations, including Athens, Alicante, Basel, Glasgow, Madrid, Malta, Milan, Naples, Nice, Rome, Thessaloniki and Tirana.

As a result, Wizz Air’s capacity will exceed its 2023 level by 15%, facilitating transportation for an estimated 6.67 million passengers. This milestone also positions the budget airline as Hungary’s largest employer in history, generating over 4,000 job opportunities.

UPDATE 2 – Wizz Air CEO: Ryanair CEO was ‘under the influence of drugs’

That is what József Váradi said about Michael O’Leary: he was probably under the influence of narcotics when he said a couple of days ago that the Irish low-cost airline was Hungary’s market leader. Mr Váradi told hvg.hu that their market share was 38%, clearly beating Ryanair’s 26%.

O’Leary called the leadership of Wizz Air liars and added they had no chance to compete with Ryanair in the Hungarian market.

Mr Váradi said Wizz Air is Hungary’s market leader and they are Hungary’s flag carrier.

Read also:

  • Exciting news: Wizz Air continues Mediterranean Riviera route from Hungary – Read more HERE
  • Hungarian Wizz Air receives bad news: panic over losing thousands of passengers – Details in THIS article

Russian official: Europe to change its tune when Russian troops are on the borders of Hungary…

vladimir putin speech victory day russian president

A Russian official talked about what would happen if their troops were on the borders of Poland, Romania, Hungary and Slovakia.

Europe’s approach to Russia in the security dialogue will become more constructive when the Russian military approaches the eastern EU states bordering Ukraine, Konstantin Gavrilov, head of the Russian delegation to the Vienna talks on military security and arms control said, according to Mandiner.

He added that

the heat will die down when troops are stationed at the borders of Poland, Romania, Hungary and Slovakia. The tone will be completely different.

In an interview with Tucker Carlson, Russian President Vladimir Putin said something else. He denied that Russia was expanding, said that it would not attack Poland or Latvia, and that those who talk about it are misleading their own citizens.

Read also:

Hungarian OTP Bank leaves Romania after 20 years

Hungarian OTP Bank leaves Romania after 20 years

The Hungarian financial giant, one of Central Europe’s biggest banks, OTP Bank, will leave Romania after 20 years of service.

According to 444.hu, the OTP Bank entered the financial market of Hungary’s Eastern neighbour in 2004. Yesterday, they announced they would leave it, selling all their assets to the biggest Romanian bank, Banca Transilvania. The Hungarian media outlet learned that the transaction will reach almost EUR 350 million. The deal is closed, but several Romanian authorities, including Romania’s national bank, must approve it. If they give the green light, Banca Transilvania (which means Transylvanian Bank in Romanian) will convert all OTP bank subsidiaries and integrate them into their network. They even promised to keep multi/bilingual service where it is necessary.

Sándor Csányi, the Chairman and CEO of OTP Bank, said “[o]ur local bank has come a long way in the 20 years we have been in Romania, and we have achieved substantial organic growth in recent years, but it has become clear that we cannot achieve our strategic growth target without acquisitions. And there is little prospect of potential acquisitions in the foreseeable future.”

Market leader buys OTP Bank subsidiaries

Banca Transilvania is the market leader in Romania’s financial sector. Its Chairman of the Board of Directors declared that the acquisition would strengthen their leading position and contribute to the consolidation of the Romanian banking market. He added that they would welcome all OTP clients and employees to the BT.

The OTP Group’s brand name will temporarily remain in place to ensure a smooth transition for customers and colleagues until the merger is completed. In the meantime, OTP Bank Romania and its subsidiaries will continue honouring their commitments to their clients as well as providing professional services of the highest quality level, the joint statement of the two banks said.

Terms and conditions for OTP Bank clients will not change, so they will have nothing to do with the during and after the merger.

OTP Bank Romania S.A. controls 2.64% of the Romanian market in terms of total net assets. It currently serves close to 420,000 retail customers and more than 22,000 Corporate / SME customers thanks to its 1,800 employees, and a network of 96 branches, the banks’ statement said.

Banca Transilvania is the largest bank in Romania and South-Eastern Europe with more than 4 million customers and around 10,000 employees.

Read also:

  • Wizz Air suspends 21 flights in Romania – Read more HERE
  • Hungary’s OTP bank removed from list of international war sponsors

PHOTOS: Hungarian Renaissance palace beautifully restored and open to visitors

princes' palace gyulafehérvár

The former seat of the Principality of Transylvania (Erdélyi Fejedelemség), the restored princes’ palace in Gyulafehérvár (Alba Iulia), was opened to the public for the first time on Monday, the museum said in a statement on Thursday.

Renovated and open to public

In one of the most important monuments of Transylvania, the Museum of the Principalities of Transylvania is housed by its current owner, the Municipality of Gyulafehérvár. Founded last year, the institution, which is attached to the mayor’s office, opened its doors to visitors on Monday, 5 February, although later, it will be closed on the first day of the week, turizmus.com reports based on MTI.

The basic exhibition is free to visit in February.

princes palace gyulafehérvár
A room in the renovated princes’ palace in Gyulafehérvár on 5 February 2024. Source: MTI/Kiss Gábor

According to the news portal G4Media.ro, the official opening took place on Saturday, 3 February, with the participation of the Romanian Minister of Culture Raluca Turcan.

The permanent exhibition presents the historical periods and key events of the castle and palace, illustrating the transformation of the buildings in each period. It also introduces some of the historical figures who guide visitors through the rooms as “virtual curators”.

Among them is the Hungarian Queen Isabella Jagiellon, buried in St Michael’s Cathedral in Gyulafehervár, who built a Renaissance centre in the palace during her stay. Two more exhibitions will be opened later, focusing on important figures in Transylvanian history: princes, princesses, governors.

princes palace gyulafehérvár2
The building of the restored princes’ palace in Gyulafehérvár on 5 February 2024. Source: MTI/Kiss Gábor

Renovation with EU funding

The renovation of the palace started in 2018 with EU funding. Although it was due to be completed in 2021, the work was only finished last December. Of the initial investment, estimated at EUR 5 million, EUR 4 million was provided by the EU, with the local government covering the significant additional cost. According to earlier reports in the local press, the renovation also revealed 16th century rococo wall paintings in the halls.

princes' palace painting
Painting in the restored princes’ palace in Gyulafehérvár on 5 February 2024. Source: MTI/Kiss Gábor

The precious monument, located in the castle of Gyulafehérvár, has been owned by the city since 2009 and was previously used by the Romanian army. The palace near the Roman Catholic cathedral was built in the 15th century, and was enlarged and rebuilt in the 16th and 17th centuries. Initially the property of the Transylvanian bishopric, it became the property of the new principality in 1542.

The princes of Transylvania ruled the country from here for almost 150 years.

Most of the building was converted into barracks by the Habsburg administration after 1690 and was used by the army for more than three centuries. The eastern wing of the complex was returned to the Roman Catholic Church in 1716 and is still the seat of the Archdiocese of Gyulafehérvár. It was renovated with the support of the Romanian state between 2008 and 2011.

Read also:

Hungarian President: Hungary is a good ally of the USA

Hungarian President Katalin Novák and Joe Biden

Local residents in Békés County “highly await” the accession of neighbouring Romania to the EU’s borderless Schengen zone which Hungary supports, President Katalin Novák said in an interview published by local daily Bekes Megyei Hirlap on Saturday.

She paid a visit to the county in south-eastern Hungary which formed part of the president’s programme visiting every county to learn first-hand about local affairs.

In the interview, Novák said with Romania’s accession maintaining contact “between Hungarians on both sides of the border will be much easier, and economic cooperation could also be further boosted”. “Nurturing good relations with its neighbours is in Hungary’s fundamental interest, also because of the Hungarian communities living there,” she said.

In connection with this year’s US elections, Novák said that depending on who will enter the White House, “prospects may change as regards the war in Ukraine” and “as regards the intensity and quality of Hungarian-US relations as well”. The president called the United States an important ally for Hungary, adding that “Hungary is a good ally that fulfills its obligations”, and “expects respect and a readiness for mutual understanding” within a non-hierarchic alliance.

Read also:

  • New US travel sanctions against Hungary? – Read more HERE
  • Hungarian top court finds so-called castle law unconstitutional

Speaking about Ukraine, Novák said the war had claimed several tens of thousands of lives with the number of Hungarian victims constantly increasing.

“More and more people started to agree with the position Hungary has represented since the beginning, namely that the only proper solution is to establish peace,” Novák said, adding that even the Ukrainian president has started to draw up a peace formula, with Hungary participating in the efforts.

Official: This European city is now the largest base of Wizz Air

bucharest hotel continental

Romania is also ahead of Hungary in the air, with Bucharest replacing Budapest as Wizz Air’s largest base last year.

Bucharest is Wizz Air’s largest base in 2023

Bucharest replaced Budapest as Hungarian low-cost airline Wizz Air’s largest base last year, Ziarul Financiar reports. According to the Hungarian News Agency (MTI), Wizz Air’s Bucharest base has 17 aircraft, with an average of 2,400 flights a month to and from Bucharest. Meanwhile, in the case of Budapest, that number is around 2,000.

Two more aircraft will be added to the Bucharest base in the near future. “This investment will bring the total number of planes at the Bucharest base to 19, employing 800 people. This is the largest base for Wizz Air, which will strengthen its leading position in Romania with a market share of 57%,” the airline said.

Read also:

Six Wizz bases in Romania

Wizz Air Romania EU
Photo: FB/Wizz Air

Wizz Air operates six bases in Romania: in addition to Bucharest, in Cluj-Napoca (Kolozsvár), Sibiu (Nagyszeben), Timișoara (Temesvár), Iași (Jászvásár) and Craiova. From these airports, they operate more than 170 flights, both domestic and international. International flights fly to 24 destinations. Last year, nearly 13 million people flew on Romanian Wizz Air flights, compared to only 8.5 million a year earlier.

Competition Authority to probe Wizz Air

On a less positive note, the Hungarian Competition Authority (GVH) has opened proceedings against the airline over suspicions that important information may have been withheld from passengers. The agency has noticed that between December 2022 and May 2023, returning passengers with a return ticket were not able to complete the free online check-in on their mobile phones due to the specificities of the website’s mobile view.

As a result, affected passengers had to pay a EUR 40 airport check-in fee. Wizz Air responded in a statement, saying that they had already solved the technical problem, which they had also notified to the GVH.

Wizz flights to resume

March 2024 will see two Wizz Air flights resume. On 1 March, the first flight to Tel Aviv after months will take off. On 31 March, the first flight to Chișinău after a year will take off. The latter route was launched back in March 2022, but was suspended on 14 March 2023 due to the uncertain security situation caused by the Russian-Ukrainian war.

Orbán cabinet would like Romanian Hungarians’ party to resume place in the Bucharest government

Hungarian government Minister János Lázár

A Hungarian government official on Friday stressed the “great importance” of the ethnic Hungarian RMDSZ party performing well in this year’s European Parliament, local government and general elections, and resuming its place in the Romanian government.

The Hungarian government would not interfere with “how Transylvania Hungarians define their own future” but it offered its help, János Lázár, the construction and transport minister, told maszol.ro in a video interview.

“Hungarians must grasp that we can’t vote in their place… Everyone must go and vote if they want to protect their national interests,” Lázár said.

Read also:

Romanian PM Ciolacu: let’s forget the nonsense that Transylvania is not Romanian land

Romania PM Marcel Ciolacu

Prime Minister Marcel Ciolacu, situated not far from the Hungarian border, explained his vision of Hungarian-Romanian coexistence and cautioned that as the elections draw near, voices in Romania will attempt to sow discord among communities by playing the national card.

Transylvania is undoubtedly Romanian land; we are integral members of the European Union, and Hungary shares this affiliation. Both Romania and Hungary, bound by NATO membership and enduring agreements, are committed to a lasting partnership. Let’s put this nonsense to rest once and for all that Transylvania (Erdély) is anything but Romanian territory

Ciolacu said at a meeting of the Satu Mare (Szatmár) County branch of the Social Democratic Party (PSD) on Friday evening, as reported by maszol.ro.

In this election year, PSD president emphasised the importance of preventing the erosion of unity among people in mixed marriages due to divisive rhetoric that may emerge during the campaigning period. He underscored that

the era of emotionally charged discourse about Transylvania is over, and it is the political actors’ duty to normalise public discussions about the region.

Expressing the PSD’s aspirations to secure the mayoralty in Satu Mare (Szatmárnémeti) and the presidency of the county council, Ciolacu anticipates increased collaboration between the RMDSZ (Hungarian Democratic Alliance of Romania) and the PSD at the local level. Gábor Kereskényi, a Hungarian national representing RMDSZ, presently serves as the city’s mayor.

Read also:

“In fact, (…) we are all Romanians of diverse ethnic backgrounds: Romanians, Hungarians, Ukrainians, Germans, living together in Romania. This diversity should be deemed as a blessing, not a cause for dispute that divides us,”

asserted the prime minister.

Ciolacu warned that in the upcoming 2024 election year, certain political forces will attempt to fracture communities in pursuit of a limited number of votes, however

“Romanians, Hungarians, Ukrainians and Germans know that these are simply provocations. God has bestowed upon us the purpose of building together, not dividing,”

he affirmed.

 

PHOTOS: President Novák recognises Transylvanian Bishop Kató with Hungarian Order of Merit

bishop kató katalin novák

President Katalin Novák recognised Reformed Bishop Béla Kató, of the Reformed Diocese of Transylvania, the head of the board of the Sapientia Foundation, with the Hungarian Order of Merit, Grand Cross, civil division, at the presidential palace on Friday.

In his laudation at the ceremony, Bishop Zoltán Balog referred to Kató as “a guideline to Catholics and Protestants, to all Christian communities seeking to preserve their Hungarian identity.”

The ceremony was attended by Prime Minister Viktor Orbán, House Speaker László Kövér, and Gergely Gulyás, the head of the PM’s Office.

Read also:

PHOTOS: Transylvanian city only European to rank among world’s top tourist destinations

brasov transylvania romania

Tripadvisor, one of the most renowned international travel portals, has ranked Brasov in Transylvania, Romania, among the top 25 tourist destinations in the world. Brasov is the only European city on the list.

The US-based travel portal Tripadvisor compiled the rankings based on tourists’ ratings. Brasov came in 21st place in the ranking, maszol.ro reports.

Read also:

“Smack in the center of Romania is Brasov, a harmonious mash-up of traditional charm and modern city life,” Tripadvisor writes of Brasov. “Ride a double-decker bus around the city to get your bearings and see the sites whiz by, then hop off to squeeze down Strada Sforii, the narrowest street in Europe. Take a day trip to see the fortified church of Prejmer, the Libearty brown bear sanctuary, and the deliciously ominous Bran Castle, otherwise known as Dracula’s Castle,” it adds.

About the list, Tripadvisor writes, “Travelers’ Choice Awards Best of the Best winners are destinations whose hotels, restaurants and things to do received a high volume of above-and-beyond reviews and opinions from our community over a 12-month period. Fewer than 1% of Tripadvisor’s 8 million listings are awarded Best of the Best, signifying the highest level of excellence in travel.”

Orbán expects a busy year in diplomacy in 2024

Robert Fico Viktor Orbán new ally oil transit citizenship agreement

Prime Minister Viktor Orbán said in an interview on Friday that he expected 2024 to be “a difficult and busy year” in terms of diplomacy.

Orbán told public radio that preparations had started “for a long march”, which included Hungary taking up the presidency of the Council of the European Union from 1 July, and this involved “intensive diplomacy”.

He said Slovak President Rober Fico’s recent visit to Budapest had been a highlight, and he noted that he had met Fico 33 times over the years. He added that he was glad to see “an old soldier” return because it is always easier to work together with a well-known partner than with a new one.

“New partners are not bad, either, as cooperation with the new Romanian prime minister offers great opportunities to improve bilateral ties,” he added.

Commenting on a visit by the prime minister of Vietnam, he said the rise of Asian countries was not a temporary trend, and the West must understand that it was not alone in dictating economic rules.

Orbán: ‘No money in the world’ to get Hungary allow migrants to enter

Prime Minister Viktor Orbán said in an interview on Friday that there was “no money in the world” that would get Hungary to allow migrants into Hungary and “take the country away from us”.

Orbán told public radio that Hungary would not allow circumstances to develop as they had done in western EU member states, citing “the threat of terror, crime and parallel societies”.

He said there was also “no money in the world” that could convince Hungarians “to hand over their children to LGBTQ”. “That would be impossible to imagine in Hungarian families”, where the raising of children “is exclusively the job” of the family and parents. “Nobody can take this away from them, especially not the school,” he added.

“They [the EU] cannot blackmail us with money in these matters because they are more important than money,” he said.

Commenting on the upcoming European elections, he compared Brussels to the French royal court, “where you can be charmed and where a separate language can be invented to discuss reality”. But, he added, at the time of the election, ordinary people “who don’t understand the Brussels jargon” must be addressed clearly, comprehensibly and directly.

He said MEPs were “fighting for re-election, and European Commission president Ursula von der Leyen “also has ambitions”, adding that she had stated clearly that EU funds were not being handed over to Hungarians for two reasons: because Hungary refused to allow migrants in and refused to allow LGBTQ activists among their children.

Orbán said that by any means possible, including financial pressure, the EU wanted Hungary to change its laws, “but this won’t work”. He also said that the EP election would be about the issues of “migration, our families and the war”.

Meanwhile, the prime minister said that the National Consultation public survey was an important exercise in taking joint action as well as addressing specific issues.

“Deep national thinking is very strong in Hungary,” Orbán said, adding that Hungarian national feeling of belonging went back a thousand years, whereas in Western Europe this was one or two hundred years.

He said more than 1.5 million people returned questionnaires “because they thought it important for the country”.

It was better, he said, to assert interests together than separately. “The consultation proves that we are still a strong country and a strong nation”, he said, adding that this message “will be heard in Brussels”.

The prime minister said that after a difficult 2023, “we’re looking ahead to an easier, better year this year”.

Referring to the pandemic and the war in Ukraine, with “skyrocketing energy prices and sky-high inflation”, Orbán said: “We were tormented by the year 2023, but … we got through it”.

He said Hungarians had “solved this together” and this strengthened their ability to face the challenges of global economic competition which raises the quality of life in the country, “and makes us a successful nation”.

Hungary’s economy, he said, was “crisis-proof even without European Union funding” and had come through the hardest of periods. When EU money was “most needed” after the pandemic and during the current period of rising energy prices, it had not been forthcoming, he said. Nevertheless, Hungary solved both crises, he added.

Orbán said “it is good if there is EU money”, but the funding was not “a large amount relative to the size of the Hungarian economy”. He added that the EU money acted as a way of “speeding things up”, noting the wage hikes for teachers which could now be implemented over three years as opposed to six.

The prime minister went on to say that inflation had been pushed down from 25 percent to around 6 percent without EU help, and Hungary’s “future is bright” in terms of growth prospects this year. “We’ll be in the front row of European comparisons too,” he added.

He said the risk of a rebound in inflation in Hungary was “minimal”. The real question, he added, was whether economic growth would match the target rate and whether the central bank would be able to reduce interest rates at the planned pace.

Growth must be the common goal of the government and the central bank, and help must be offered to get investors to carry out more developments and create jobs, Orbán said. This, he added, required lower lending rates which, given the protection of the forint, the central bank would be able to guarantee this year.

The prime minister noted that Marton Nagy, the minister of economic development, is responsible for economic growth, so “he must arrange it”.

He confirmed that pensioners would again receive a 13th month pension this year. Every year “there is a serious discussion” with the finance minister as to whether the 13th month pension would be paid in one sum as pensioners expected. “This dicussion has already been held this year”, he said.

Meanwhile, Orbán said he expected 2024 to be “a difficult and busy year” in terms of diplomacy. Preparations, he said, had started “for a long march”, which included Hungary taking up the presidency of the Council of the European Union from July 1 to the end of the year, and this involved “intensive diplomacy”.

He said Slovak President Rober Fico’s recent visit to Budapest had been a highlight, and he noted that he had met Fico 33 times over the years. He added that he was glad to see “an old soldier” return because it is always easier to work together with a well-known partner than with a new one.

“New partners are not bad, either, as cooperation with the new Romanian prime minister offers great opportunities to improve bilateral ties,” he added.

He said he had many disputes with Fico in the past but they have almost all been resolved. “By now Slovak-Hungarian relations basically only have positive elements,” he added.

The number of border crossings on the Slovak-Hungary border have increased from around 10 to 40 over the past ten-plus years, he noted. Slovakia and Hungary, he added, agreed that crossborder life was special, and it was much better if people were connected rather than separated. A working team has been set up to prepare proposals on how to further improve the quality of life for people living near the border, he added.

“It was a good start of the year; we could hardly have received a more promising guest than the Slovak prime minister,” he said.

Commenting on a visit by the prime minister of Vietnam, he said the rise of Asian countries was not a temporary trend, and the West must understand that it was not alone in dictating economic rules.

He said reports put Vietnam, with 100 million inhabitants, among the ten fastest developing countries in the world. Hungary has long-standing relations with Vietnam and cooperation is good between the two countries, he added.

Asians, he said, were good at trade, and efforts were now under way to attract investments to Hungary.

Meanwhile, Orbán said he would receive the Moldavian prime minister in Budapest next week.

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CEE ministers press EC for steps to manage Ukraine grain glut

harvest tractor agriculture grain

Central and eastern European agriculture ministers have once again turned to the European Commission for support in managing the impact of market disturbances caused by the flood of grain imports from Ukraine, Minister of Agriculture István Nagy said on Monday.

In their letter to EC Executive Vice President Valdis Dombrovskis and European Agriculture Commissioner Janusz Wojciechowski, the agriculture ministers of Bulgaria, Hungary, Poland, Romania and Slovakia gave an outline of the market losses their countries’ agricultural products suffered due to Ukrainian grain imports, Nagy said in a statement.

He said the flood of cheap Ukrainian grain was forcing central and eastern European farmers out of their traditional export markets. The minister said that in addition to high production costs, price and revenue risks and adverse weather conditions, the influx of Ukrainian grain caused extra concern for farmers in the region.

Nagy said that because these five countries were key contributors to Europe’s food security given their grain exports, Brussels had a duty to take steps to protect their markets and give them the opportunity to exploit their export potential. One way of doing this, he added, was to introduce tariffs on the “most sensitive agricultural products”.

The minister said he and his counterparts were calling on the EC to prepare a report on how Ukraine’s agricultural production regulations comply with EU regulations.

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Hungarian Wizz Air wanted the EU to chastise the Romanian flag carrier

József Váradi Wizz Air CEO Hungary All You Can Fly

The Hungarian budget airline found fault with Tarom’s state bailout. That is because provided the Romanian airline had bankrupted during the COVID pandemic, there would have been other airlines which could have served Romanian passengers on the routes of the Romanian flag carrier. Of course, Wizz Air wants to conquer the low-cost market of Hungary’s Eastern neighbour. That is why they brought the case to the Court of Justice of the European Union (CURIA).

Romania gave EUR 37 million as a loan to Tarom, the country’s flag carrier, after the outbreak of the coronavirus pandemic. That is how they saved their airline from bankruptcy. Wizz Air believed that the help was prohibited state support and brought the case to the CURIA. But the EU’s Court of Justice gave right to Romania, Világgazdaság wrote.

In September 2022, we wrote that Wizz Air continued its lawsuit against Tarom. Furthermore, the Hungarian low-cost airline expressed it would take the Romanian competitor’s place if it went bankrupt as it did in the case of Malév. However, they would have only taken over certain flights, the airline’s company director added then.

Ryanair was also outraged in France

During the pandemic, several countries decided to help their flag carriers, which low-cost companies regularly slammed. For example, Ryanair complained about the bailout of Air France and SAS.

In the case of Wizz Air’s complaint about Romania’s EUR 37 million loan to their airline Tarom, the EU’s Court of Justice decided on Thursday and rejected Wizz’s claim. The court said Tarom’s bankruptcy would have affected several Romanian regions badly since the air connection would have terminated in that case.

The CURIA did not accept Wizz Air’s argument that competitor airlines would have filled that gap, Maszol wrote.

Before, Wizz Air turned to the EU’s CURIA because of the EUR 60 million bailout of Romanian Blue Air. However, that airline went bankrupt and is now in state ownership.

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Hungarians to have easier access to New York, Beijing – UPDATED

rsz_new_york united states

HiSky, a Romanian airline, will offer its passengers to travel from Kolozsvár (Cluj Napoca) to New York via Bucharest. Unfortunately, Hungary does not have a direct air connection to Transatlantic destinations due to political reasons, but its flight network to the East is extending. Now, a Beijing flight will commute more frequently to Budapest.

According to Budflyer, a Hungarian air travel news Facebook page, HiSky, a Romanian airline, will launch a non-stop flight to New York from Kolozsvár (Cluj Napoca) and Kisinyov (ChiÈ™inău, Romania’s Moldova region). The new flight will carry passengers from this June, and people will have to change flights in Bucharest.

You can already book your flight in HiSky’s system. Based on the plans, the average transfer time will be 1 hour and 10 minutes to New York and 1 hour and 35 minutes from the Big Apple.

Kolozsvár is Romania’s second biggest city with almost 300 thousand citizens, of which more than 10%, 33 thousand are Hungarians.

More flights to Beijing

Unfortunately, Hungary does not have a direct air connection to any US or Canadian cities. The last time it had was before the coronavirus pandemic. Experts suggest that is because of the tense relationship between the Orbán and the Biden cabinets. For example, the USA unilaterally terminated a taxation agreement and introduced restrictions concerning Hungarian passport holders.

Furthermore, the Biden administration and the US ambassador in Budapest regularly criticise Orbán. They believe the Orbán cabinet undermines NATO, and the EU struggles to support Ukraine in their fight against Russia. Meanwhile, Orbán regularly highlights that Ukraine has no chance of victory and Ukraine is one of the most corrupt countries, so nobody should invest money or weapons in that war.

Despite having no direct connections to the Transatlantic West, Hungary’s connections to the East expand unstoppably. Now, Air China announced they would increase the number of flights between Budapest and Beijing from two to three a week. The new timetable will be in effect from 4 April, airportal.hu wrote.

Boeing 787-9 Dreamliner aircrafts will fly between Budapest and the Chinese capital on Mondays, Thursdays and Fridays.

The planes will take off in Beijing at 2:50 AM local time and arrive in Budapest at 7.10 AM GMT. You can travel back to China at 12:20 PM and land in Beijing at 4:15 AM local time.

UPDATE – MTI: Eight direct flights between Beijing and Budapest

Air China launched its direct Budapest-Beijing flight in 2015 which had to be terminated due to Covid. The airline resumed its service in the summer of 2022 but suspended it again for a couple of months in March 2023, BA said in a statement. Direct flights twice a week were launched in June last year.

Two Chinese airlines, Air China and China Eastern Airlines, operate currently eight direct flights between Beijing and Budapest. Beside Beijing, the three other cities of Shanghai, Chongqing and Ningbo can be directly reached from Budapest, said BA, MTI wrote.

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These new motorways will be ready in Hungary in 2024

Motorway Hungary

Hungary will build new motorways this year: here is a list of them. However, the length of these newly-built segments will only be 30 kilometres in 2024. The first new segments will be inaugurated at the beginning of the year. They are the last section of the M6 and the last but one segment of the M44 motorways.

According to Világgazdaság, currently, ongoing building projects concern 123 kilometres of motorway. They will finish in the next few years. According to the economy-focused media outlet, in the next few weeks, 20 kilometres of the M6 motorway will be opened to traffic. The completion of M6 will help to travel to Croatia and Serbia more easily from Budapest. Furthermore, a segment of the M44 motorway between Szentkirály and Lakitelek will also be ready. The technical handover happened last December in that section, even though the deadline was months later.

In the second half of the year, the Sopron-Austrian border section of the M85 highway will also be ready. Unfortunately, neither the M6 nor the M85 continues after the border. But it is good news for many people that they reach the Croatian and the Austrian border.

Death road to be replaced by motorway

Hungary’s “death road”, main road nr 4, will also become a motorway on its entire length. Work is in progress on 34.29 kilometres there, between Törökszentmiklós and Kisújszállás. M4 is connecting the Romanian border with Budapest. Traffic is heavy there, especially because of the many trucks and lorries commuting there and shipping goods between the East and the West.

The Törökszentmiklós-Kisújszállás segment costs HUF 133.9 billion (EUR 354 million), and Duna Aszfalt has 36 months to finish it. Therefore, it will be probably ready by 2026 summer. Provided that happens, only a relatively short, 60 kilometres segment connecting Berettyóújfalu and Kisújszállás will remain single-lane.

M49 will provide faster access between the Hungarian Nyíregyháza and Szatmárnémeti (Satu Mare) in Romania. A 45-kilometre-long segment of it in Hungary will connect Nyíregyháza with the Romanian border. Szatmárnémeti is just approximately 10 kilometres away from the border. Work started in Hungary in early 2023. The contractor is Duna Aszfalt. The first section between Nyíregyháza and Ököritófülpös is 28.15 kilometres and will be ready by 2026 autumn. The procurement process for the second stage connecting Ököritófülpös with the border is ongoing. Therefore, the relevant contracts might be signed this summer.

On the M44 motorway, a shorter, 4.6 kilometres long section was ready in December. The building of a longer, 32.2 km section between Szentkirály and Kecskemét started in 2022 by Hódút Ltd. It will be ready by early-2025.

Budapest-Bosnia on motorway

M85 will reach the Austrian border this year. However, the project was more difficult than expected because the consortium of contractors (Dömpet Ltd, Pannon-Doprastav Ltd and Subterra-Raab Ltd) had to build a 780-metre-long tunnel. The original cost was HUF 50 billion (EUR 132 million), which grew by HUF 4.5 billion (EUR 11.9 million) lately. This investment will be ready this autumn.

M6 will connect the Croatian border with Budapest this January, but the Croatian continuation of the road is not ready yet. 4.5 kilometres of it is in Croatia and will be ready by 2025. Then, you can travel on the motorway between Budapest and the Bosnian border.

Motorway length in Hungary became longer than in Austria. In Hungary, you can use 1850 kilometres. In Austria, that is “only” 1749 kilometres.

However, there is a halt in motorway building in Hungary. Between 2019 and 2021, the network extended by 430 kilometres. Between 2022 and 2024, that will be below 150 kilometres. That is probably because of the difficult economic situation in Hungary with high inflation, decreasing consumption and problems with the Hungarian budget.

That is why we cannot be sure when the government-promised M76 (Zalaegerszeg) and M100 projects will start.

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Refuelling in Hungary? Fuel is cheaper in almost all neighbouring countries

MOL fuel station

In January, Mol will increase the price of fuel in two instalments by a total of HUF 41, to take account of the increased excise duty. According to a report by Világgazdaság, even with the first increase introduced on 1 January (which is HUF 20), it is already more expensive to fill up in Hungary than in practically any other neighbouring country.

As we reported before, Mol will implement the increase in excise duty on fuel in two steps, with the HUF 20 change on 1 January followed by a HUF 21 price change on 15 January. After that, domestic petrol and diesel prices will be among the highest in the region. According to the report of Világgazdaság, even now, after the first price increase, fuel prices are already higher in Hungary than in most neighbouring countries.

According to Holtankoljak, the lowest price of petrol in Hungary on 4 January was HUF 523 (EUR 1.38) per litre, and HUF 555 (EUR 1.46) for diesel. The average prices are HUF 561 (EUR 1.48) and HUF 599 (EUR 1.58). In the middle of the month, these retail prices will rise by a further HUF 21 per litre.

Refuelling in Croatia

In Croatia, the government reduced the excise duty on fuel and capped the profit margin for traders last spring, effectively making fuel an officially priced product. Currently, a litre of standard fuel of both types costs EUR 1.4.

Thanks to the price cap, Hungarians living near the border have been regular visitors to Croatian petrol stations for some time, Világgazdaság writes. On an average tank of fuel, you can save up to HUF 3-4000 (EUR 8-11) there.

Even cheaper elsewhere

However, fuel prices are even cheaper in Bosnia and Herzegovina. Thus, while Hungarians fill up in Croatia, Croatians go to their neighbour. There, a litre of petrol costs HUF 450 (EUR 1.19) and the same amount of diesel costs HUF 460 (EUR 1.21).

Fuel in Slovenia

At about the same time as Croatia, the Slovenian government also intervened in fuel prices, using almost the same model as Zagreb, Világgazdaság reports. In Slovenia, petrol costs HUF 520 (EUR 1.37) per litre, and diesel costs HUF 560 (EUR 1.48). As a result, Hungarian cars are becoming more common at Slovenian petrol stations.

According to Világgazdaság, regional fuel prices are as follows:

Regional fuel prices

Prices in HUF (EUR)

Petrol Diesel
Croatia 532 (1.40) 532 (1.40)
Bosnia and Herzegovina 450 (1.18) 460 (1.21)
Slovenia 520 (1.36) 560 (1.47)
Slovakia 589 (1.55) 570 (1.50)
Serbia 562 (1.47) 627 (1.65)
Romania 508 (1.33) 544 (1.43)

Source: Világgazdaság

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