Listed car seller AutoWallis on Wednesday announced the issue of a EUR 20m, ten-year bond in a private placement.
AutoWallis’ expansion
AutoWallis will use the proceeds from the issue to fund its expansion abroad and acquisitions. The car seller said it planned to make 2-3 acquisitions a year in the coming years.
AutoWallis is present in 16 countries in Europe and announced its biggest acquisition yet, of Czechia’s MILAN KRAL, in November. The company plans to plough around HUF 80bn into its business by 2028, boosting annual revenue to HUF 750bn and EBITDA to HUF 40n by 2028, double the levels in 2023.
AutoWallis counts Alpine, BYD, Dacia, Isuzu, Farizon, Jaguar, Land Rover, MG, Saab parts, Renault, SsangYong and Opel among the brands in its wholesale portfolio. Brands in the retail portfolio include BMW cars and motorcycles, BYD, Dacia, Isuzu, Jaguar, KIA, Land Rover, Maserati, MINI, Nissan, Opel, Peugeot, Renault, SsangYong, Suzuki and Toyota. It represents the Sixt rent-a-car brand in Hungary and operates its carsharing and fleet management business under the wigo aegis. AutoWallis also owns the vehicle listing sites JoAutok.hu and AUTO-LICIT.HU.
Listed Hungarian car seller AutoWallis on Friday announced an agreement to buy 100pc of Czech peer MILAN KRAL GROUP, in the company’s biggest acquisition to date.
The transaction further bolsters AutoWallis’spresence in Czechia’s “generally more profitable” market, the company said. It added that new car sales in Czechia were over 244,000 in 2023, nearly double the number in Hungary.
Revenue of MILAN KRAL GROUP was the equivalent of HUF 50bn in 2023, compared to AutoWallis Group’s turnover of HUF 366bn. MILAN KRAL HOLDING sells and services the BMW, Mercedes-Benz, Mercedes-Benz Truck and Ford brands, and services the Opel brand. It also has its own used car business under the brand auto.pro.Tebe.
Photo: FB/Autowallis
The transaction is expected to close in December, pending approval by the Czech competition authority and the fulfillment of other conditions.
In the summer, AutoWallisacquired another Czech retail business: Stratos Auto’s three BMW dealerships.
AutoWallis earnings fall on higher costs
Net income of listed car seller AutoWallis fell 54pc year-on-year to HUF 4.7bn in Q1-Q3 as acquisition-related costs weighed, an earnings report released on Friday shows. Revenue edged up 3pc to HUF 291.2bn. Revenue of the wholesale division fell 5pc to HUF 161.3bn, while revenue of the retail business climbed 16pc to HUF 123.6bn.
Cost of goods sold inched up 2pc to HUF 240.6bn, nearly in tandem with sales, while cost of services increased 30pc to HUF 16.2bn, boosted by spending on marketing and acquisition-related costs. Payroll costs jumped 35pc to HUF 14.2bn as headcount climbed because of acquisitions and wage rises. CEO Gábor Ormosy said full-year sales were expected to exceed last year’s in spite of the current macroeconomic environment.
Read also:
German companies in Hungary worried about growing costs, decreasing consumption – read more HERE
Hungary’s 2025 budget to focus on housing support, family subsidies, and tax cuts, saysminister
Hungary is ready to develop further the successful cooperation among the Visegrád Group — Hungary, Czechia, Poland and Slovakia — and strengthen trade and economic ties, Minister of Foreign Affairs and Trade Péter Szijjártó said at a conference in Budapest on Thursday.
Addressing the Visegrád 4 Business Conference, Szijjártócalled V4 cooperation an “important element” of Hungary’s foreign policy strategy, his ministry said in a statement. He added that the V4 had improved the positions of its members on the European stage.
He warned against initiatives in the EU to decouple the economies of the East and the West and pointed to the V4’s earlier negative experience with blocs. Isolation can cause “serious damage” to Europe’s economy, he said, adding that Hungary was an advocate for connectivity and had adopted a policy of economic neutrality.
He said Hungary had become a “meeting point” for investments from the East and the West and was home to manufacturing bases of all three premium German car brands and five of the ten biggest Asian battery makers.
He said the V4 should concentrate on “pragmatic issues” and noted that Slovakia was now Hungary’s second-biggest trade partner, while Poland was the third-biggest and Czechia the sixth-biggest.
The Hungarian forint is at a 4-month low against the American dollar. The exchange rate stands around 370/USD these days. The last time it was that high was in June. What can we expect? Will the euro continue to strengthen as well?
Hungarian forint struggling against euro, dollar
The Hungarian forint started a weakening period again in the last few weeks. The EUR/HUF currency exchange rate is slowly but unstoppably climbing again. Even though the EU’s official currency was at a one-year low on 26 May at 384.39/EUR, it is above 400/EUR again, and it seems we have to get used to that exchange rate. The forint has been around 400 since the beginning of this month.
The trend is the same concerning the American dollar. Despite being at a 6-month low in August and September, the American currency reached a 4-month high in October with HUF 368-370/USD. The American dollar peaked in June and April, with exchange rates above 370/USD. In January, we only had to pay HUF 344.7 for a dollar.
Forint-USD. Photo: PrtScr/Google
Forint-euro. Photo: PrtScr/Google
According to the MTI, the forint traded at 400.05 to the euro around 10:00 in the morning on Friday, little changed from its rate of 400.23 late Thursday. The forint edged up to 369.07 from 369.33 against the dollar. It firmed to 425.81 from 427.10 to the Swiss franc.
Hungary’s risk remains high
Barnabás Virág, the deputy governor of the Hungarian National Bank, said at the annual conference of Portfolio yesterday that the American economy was in unexpectedly good shape. Therefore, the FED can introduce a moderate interest rate reduction course. The result is a strengthening dollar against the euro, which is bad news for emerging currencies like the forint.
Meanwhile, Hungary’s risk margin increased compared to the second half of the 2010s. Our risk margin is higher by 140 base points than it was then. Risk evasion from investors is strengthening, and geopolitical conflicts are escalating, which is not good news for emerging markets like Hungary because investors move their money to the safest currency in the world, the American dollar. If the USA gets involved in one of the conflicts, the EUR/HUF exchange rate can easily exceed the 410 level, hvg.hu wrote.
Will the weakening of the forint continue? Photo: Pexels
Sometimes even a well-formed sentence is enough
Mr Virág added that the Hungarian National Bank might keep its base interest rate decrease programme halted even after October. That statement helped the forint to strengthen from 402/EUR to 400/EUR.
The forint is in bad shape even compared to regional currencies
HVG tried to explain why the forint has lost so much of its value compared to other regional currencies (Polish zloty, Czech koruna, etc.) since 2004. They shared two shocking pieces of data as an introduction. When Hungary joined the European Union (1 May 2004), we had to pay HUF 250 for one euro. Currently, that exchange rate is 400, which means it lost 60% of its value.
Meanwhile, Czechia’s koruna strengthened. In 2004, they paid 32 koruna for one euro. Now, the exchange rate is only 25.3. Comparing the Hungarian currency with the koruna is even more shocking. In May 2004, a Czech koruna cost 7.74 forint, while now we have to pay 15.86. That is a more than 100% weakening.
High state debt, Orbán’s supermajorities, huge state investments
One of the reasons is the high Hungarian state debt and the fact that 30% of it is in foreign currency. If the forint weakens, our state debt grows instantly. For example, compared to H2 2023, the Hungarian state debt grew by HUF 504.1 billion in H1 2024.
Another reason is the government’s already announced pre-election money transfers. In 2022, the Orbán cabinet generated Europe’s biggest inflation by distributing thousands of billions of forint, gaining the fourth consecutive supermajority. Péter Magyar’s Tisza Party is just 2% behind Fidesz. Therefore, the Orbán government may prepare an even more significant money transfer before the elections in 2026.
Investing in Hungary is even higher because of the huge investments of the Orbán regime, like buying Budapest Airport or building the Belgrade-Budapest railway line.
New budget only after US presidential elections
The Hungarian government regularly says the weak forint boosts the exports and the economy. However, HVG argues that its disadvantages are far greater than its advantages.
The Orbán government places the country’s diplomatic and economic future in Trump’s victory in the November presidential election. For example, the government will only submit the 2025 budget after the election. In the last 14 years, annual budget bills were always submitted the previous May. That meant, of course, that the government regularly amended the budget since the 2025 budget accepted by the parliament e.g. in May 2014 needed several modifications in the next year.
Hungary’s future is highly dependent on Trump’s victory in November. Photo: FB/Orbán
Read also:
Good news from the Hungarian economy: National Bank prepared to protect the Forint, inflation likely to fall – read more HERE
Hungarian central bank launches new 200-forint coin alongside commemorative coins – PHOTOS and details HERE
Prime Minister Viktor Orbán personally greeted former Czech President Milos Zeman on the occasion of his 80th birthday, the PM’s press chief said in a statement on Saturday.
Illustration. Photo: FB
The Czech press said that Zeman’s birthday celebration was held in Hluboka nad Vltavou on Saturday evening, and numerous Czech and foreign politicians were invited.
Slovak premier Robert Fico arrived on Friday evening, and it was expected on Saturday that Slovak President Peter Pellegrini, Polish President Andrzej Duda and Orbánwould also attend.
On Friday afternoon, Orbán had meetings in Ceske Budejovice with the leader of the ANO party Andrej Babis, the former Czech PM.
Czech President Petr Pavel has expressed concerns that leaders like Hungary’s Viktor Orbán are making it more difficult to establish the terms of peace for the ongoing Russia-Ukraine war. This is not the first time that the Czech head of state has criticised the Hungarian PM. Additionally, Pavel, in an interview with The New York Times, emphasised the need for Ukraine to be realistic about the likelihood of regaining its occupied territories in the near future.
Pavel: “This may sound appealing, but it’s not true”
According to Pavel, the pro-Russian stance of leaders such as Orbánis weakening European solidarity and will likely result in some Ukrainian regions remaining under Russian control for an extended period, even after the fighting ends, Index reports based on Pavel’s interview with the New York Times. “The most probable outcome of the war is that Russia will retain control over parts of occupied Ukraine, at least temporarily. But that ‘temporary’ period could stretch for years,” Pavel said. This view is increasingly shared by European officials, especially after Ukraine’s unsuccessful counteroffensives last year.
Source: Facebook/Petr Pavel
The Czech president criticised Orbán’s rhetoric on supporting Ukraine, calling it nonsensical. He argued that a swift end to the war was essential to prevent further depletion of Europe’s resources.
“The problem lies in populism. It’s easy to say we shouldn’t send weapons to Ukraine and peace will follow. But that’s not realistic,”
Pavel added, referencing Hungary’s repeated claims that Western allies and NATO are war-mongering, while Orbán has advocated for a peaceful solution.
Pavel dismissed the idea that only Orbán desires peace, stating that the Hungarian leader’s approach is misleading. “To constantly claim that everyone wants war, and you’re the only one seeking peace—it may sound appealing, but it’s not true. Unfortunately, many people don’t realise that such promises are not realistic,” Pavel remarked.
The “peace mission”: Orbán’s visit to Moscow
In July, Orbán became the first EU leader to visit Moscow since the invasion began, meeting with Russian President Vladimir Putin. This meeting followed a visit to Kyiv and was followed by a trip to Beijing earlier in the year. However, Orbán’s diplomatic tour did not result in any significant breakthroughs.
Photo: www.facebook.com/OrbánViktor
Ukraine’s territorial integrity and future are set to be central topics at this week’s NATO summit, where Ukrainian President Volodymyr Zelenskyy is expected to request continued military and political support from Western allies. Zelenskyy is also slated to present his victory strategy to U.S. President Joe Biden in Washington.
Pavel: “Neither side should expect total victory”
Pavel pointed out that neither side—Ukraine nor Russia—should expect total victory or defeat. Ukraine must come to terms with the reality that it may not regain all its territories, such as Crimea, which was annexed by Russia in 2014 and may never be returned. Conversely, Russia will have to relinquish its broader territorial ambitions over Ukraine. “The solution will likely fall somewhere in between,” Pavel noted.
While Ukrainian officials have signalled a greater openness to negotiations with Russia, they have also made it clear that any peace deal would come with a high price for Moscow, given the enormous loss of Ukrainian lives. However, a recent poll by the Kyiv International Institute of Sociology indicates that the Ukrainian public is increasingly leaning toward the idea of ceding territory if it would lead to an end to the fighting. In the war’s first year, only 8–10% of Ukrainians supported such a move; by May of this year, that number had risen to 32%.
Despite Ukraine’s hopes for a resolution, Western officials maintain that any peace negotiations will need to involve Russia, even as Zelenskyy looks for ways to conclude the war without Moscow’s direct involvement.
Hungary is sticking to its decision against delivering weapons to Ukraine, Gábor Böröndi, the chief of staff of the Hungarian Armed Forces, said on Saturday after a two-day meeting of NATO’s Military Committee.
The meeting of NATOchiefs of staff in Prague focused on the war between Russia and Ukraine, Böröndi said.
Böröndi: Hungary will not send weapons to Ukraine
Gábor Böröndi. Photo: MTI/Kocsis Zoltán
The chiefs of staff reviewed the current trends and actions and discussed the alliance’s so-called vigilance activity, including the preparation, training and cooperation of the battle groups set up in NATO member states, as well as the implementation of the approved defence plans, Böröndi said.
He said that in his address to the meeting, he had explained that Hungary supports Ukraine with non-lethal aid but was sticking to its decision against delivering weapons to its northeastern neighbour. Hungary, he added, was also continuing the training of the vigilance battle group comprising Hungarian, Croatian, Turkish and Italian troops set up in Hungary.
Regarding the mood at the meeting, Böröndi said expectations about the outcome of the war were not as positive as in the past.
He also said the question of how NATO can prepare itself to meet the challenges of the 21st century was becoming a more frequent topic within the committee.
Meanwhile, Böröndi said he had spoken with General Christopher G. Cavoli, NATO’s Supreme Allied Commander Europe, and the representatives of France and Croatia on the sidelines of the meeting.
Budapest is preparing for a significant flood surge, with the Danube’s water levels expected to rise dramatically in the coming days. According to the National Water Forecasting Service (Országos Vízjelző Szolgálat), starting Monday, the river’s water level will increase by roughly one meter per day, surpassing 800 cm by midweek. Current data shows the river’s level at 250 cm, and it’s predicted to reach as high as 850 cm, potentially triggering third-degree flood alerts. For comparison, the highest water level ever recorded was 891 cm.
Budapest to see restrictions due to the flood situation
Given these projections, authorities are considering closing off Margitsziget (Margaret Island) to both pedestrian and vehicle traffic, Portfolio reports. The lower embankment of the Pest side will likely be submerged by 17 September, while other sections, including the Buda side, will be closed from 8 PM on 16 September.
This surge comes after days of severe weather across Austria and parts of Central Europe. Heavy rainfall has caused significant flooding, particularly in Lower Austria and Burgenland. The storms have now reached western Hungary, prompting the Hungarian Meteorological Service (HungaroMet) to issue an orange alert for Sunday, warning of wind gusts reaching 110 km/h in some areas, Portfolio writes in another article.
Flooding in Austria
In Austria, the Lainsitz River has overflowed, flooding roads and disrupting train services between Amstetten and St. Valentin. Vienna has also faced challenges, with partial closures on metro lines due to water entering tunnels. Emergency evacuations are underway, and the Austrian army has been deployed to assist, Die Presse reports.
Es ist soweit: Erste Flüsse in Niederösterreich überschreiten nun die 30-jährliche Hochwassermarke – etwa die Lainsitz im Waldviertel.
Und die kommenden 48 Stunden bringen gerade im Osten noch einmal extreme Niederschlagsmengen.
(Bilder: Stadtgemeinde Weitra) pic.twitter.com/ZfekYSLqPt
Although forecasts indicate a reduction in rainfall over the next few days, strong winds continue to hinder recovery efforts in Austria. Winds in some regions have reached speeds of 121 km/h, particularly in higher elevations such as the Rax mountain station.
The situation in Czechia
Flooding in Czechia on 14 September. Photo: MTI/EPA/Martin Divisek
Flooding in Czechia on 14 September. Photo: MTI/AP/Petr David Josek
In Czechia, tens of thousands of people are being evacuated due to flooding. Nearly 3,000 people are leaving their homes in the Moravian-Silesian region, with thousands more evacuated from Opava. Both the Moravian-Silesian and Olomouc regions have declared states of emergency, and four people are missing due to the floods, according to Hospodarske Noviny.
Heavy rain continued overnight into Sunday, and forecasters warn that the combined water flow in areas such as Jeseníky, Krnov, and Opava may exceed levels seen only once in a century. Southern Bohemia is also facing severe conditions.
Sunday’s forecasts predict less rain than today, but in the Jeseníky Mountains, up to 80–100 mm of rain could still fall, according to Environment Minister Petr Hladík. The bad news is that more rain is expected on Monday, he added.
In Hungary, authorities advise residents in affected areas to avoid travel until conditions improve.
Arnold Schwarzenegger, the famous actor and former governor of California, made an appearance at Déryné, a restaurant popular among international celebrities in Budapest. His visit sparked curiosity as he wasn’t in Hungary for a film shoot like Morgan Freeman had been a few weeks earlier. The answer likely lies in Prague, where Schwarzenegger has been filming the second season of the Netflix series Fubar. Given the proximity to Budapest, it seems the actor decided to make a quick stop in the Hungarian capital, which he has visited several times before, including for the funeral of his friend Andy Vajna in 2019.
Schwarzenegger in Budapest
Schwarzenegger’s time in Budapest wasn’t just about food, though. He met with Hungarian Prime Minister Viktor Orbán at the Carmelite Monastery, the government’s headquarters, Telex reports. In a playful twist, the prime minister posted photos on his social media of Schwarzenegger sitting in his chair, captioned with, “This is just the beginning! 💪.”
Not long after, another post followed showing Schwarzenegger giving Orbán workout tips as the Hungarian leader jokingly pretended to lift weights in a formal shirt.
Despite leaving his workout gear at home, Orbán seemed to enjoy the impromptu fitness session. It’s well known that the prime minister has returned to regular training, reportedly using kettlebells ranging from 16 to 24 kilograms. The pair later visited Flex Gym in Budapest, where Schwarzenegger posed with a life-sized Terminator statue, solidifying the humorous and lighthearted tone of the day.
In a video shared later, Orbán was seen driving Schwarzenegger around Budapest, with the two chatting in the car. Orbán commented on how tourists who spotted Schwarzenegger likely had no idea who Orbán was, while the former governor playfully praised the prime minister for being an excellent driver.
Orbán posted a photo gallery on his Facebook page:
The role of territorial defence forces will increase in future and every nation has already gained experience in this field which they are ready to share at the current Moonstar 2024 multinational military exercise, the commander of the Hungarian army’s territorial defence forces said in a military base in western Hungary on Wednesday.
Moonstar 2024
Speaking to reporters in Hajmáskér, László Drót noted that Hungary and neighbouring countries had started to set up territorial defence forces during the past seven years.
“The Hungarian Armed Forces can gain from the experience of Poles in building up territorial defence systems at the exercise, and they can learn certain components of Hungary’s training method,” the commander said, adding that the participating troops were learning about the arms and methods of the other nations.
The Moonstar exercise also has Croatian, Slovenian and Czech observers present, said Drót.
“In a first chapter of Moonstar 2024, the Hungarian and US army held a joint shooting exercise at the beginning of the year,” he added.
According to a press release distributed at the scene, the current exercise is being held between Sept 2 and 13 with 190 Hungarian, Polish and Slovak territorial defence force reserves.
Gordon Bajnai, the former Prime Minister of Hungary between 2009 and 2010, talked about Hungary’s EU membership and a possible Huxit at a global security forum in Prague.
A new party-state is being born, says Bajnai
Bajnaitook power after Former PM Gyurcsány resigned as prime minister following the 2008 global financial crisis, which knocked the Hungarian economy down. Gyurcsány is still a leading Hungarian politician heading the Democratic Coalition. Between 2019 and February 2024, DK seemed to become the greatest challenger of PM Orbán’s regime in the 2026 general elections. However, Gyurcsány’srejection rate is so high in Hungary that experts claimed he would never gain power again.
Following the presidential clemency scandal, a new power arose in Hungary led by a previous Fidesz member and the ex-husband of Former Justice Minister Judit Varga, Péter Magyar‘s Tisza Party. Even though Gyurcsány is still a defining power in the opposition, his support is weakening by the day, and Péter Magyar’s star is rising following their almost 30% in the 2024 European parliamentary elections.
Photo: FB/Ferenc Gyurcsány
Mr Bajnai tried to return as the opposition’s leader in 2012 as the head of a coalition of leftist parties, organisations and background policymakers. However, he suffered a defeat in the 2014 general elections, following which he resigned from politics.
This is the reason why Bajnai kept repeating he was no longer a player in Hungarian politics at the Globsecglobal security forum in Prague. He participated in a talk of former state leaders, including Slovakia’s Mikulaš Dzurinda, Czechia’s Mirek Topolánek, and Austria’s Sebastian Kurz. They discussed the changing politics in Central Europe, 444.hu wrote.
Former PM Bajnai: Huxit possible, the Orbán government is working on it
Bajnai said there were structural changes in the Hungarian economy and the society’s mentality. He added PM Orbán aimed to create a society dependent on the Hungarian state because that transfers all the more power to politicians. The Orbán cabinet is building a new party state where the sole success criteria would be loyalty to the regime.
Gordon Bajnai: “I’m a Hungarian AND a European. And you?” Photo: facebook.com/BajnaiGordon
He said “cohabitation” with the EU would not last long. Now, the population is pro-EU, but many are working hard to change that.
However, following a possible Huxit, the Hungarian economy would collapse because German and Chinese carmakers would leave the country. Bajnai said there was no timed plan concerning a Huxit, but there was a strategy because the Orbán regime does not comply with the rules of the European Union.
The only other politician taking part in the forum was Balázs Orbán, the prime minister’s political director.
Read also:
World’s richest Hungarian shares when Huxit is most probable – read his prediction HERE
The Druzhba oil pipeline, which supplies Russian crude to Hungary, Slovakia, and the Czech Republic, will cease operations starting 1 January 2025, according to a statement by Mykhailo Podolyak, advisor to Ukrainian President Volodymyr Zelensky. This development aligns with Ukraine’s decision to halt Russian gas transit through the Brotherhood pipeline, as Ukraine has opted not to renew its contract with Gazprom, which expires at the end of the year.
Ukraine open to helping, but not with Russian gas
Druzhba pipeline. Photo: Creative Commons CC BY-SA 3.0
In the past, Hungary received gas via this route, but in anticipation of Russia’s invasion of Ukraine, the country redirected the flow to the Turkish Stream pipeline from the south. Currently, gas continues to flow through the Brotherhood pipeline from Hungary toward Ukraine. Podolyak indicated that Ukraine is open to transmitting non-Russian gas through this route, such as from Central Asia, if appropriate agreements are made, HVG reports.
Europe, he noted, has diversified its energy sources, reducing its reliance on Russia, which no longer plays the dominant role it once did. Podolyak emphasised that should countries want Kazakh or Azerbaijani gas, Ukraine would be ready to facilitate its transport as long as the necessary logistical and contractual frameworks are in place.
Druzhba pipeline to close next January
However, with the Druzhba pipeline’s closure looming, Hungary may face oil supply challenges. Currently, Hungary can only import oil via the Adriatic pipeline from Croatia, apart from the Druzhba line. This raises concerns about the country’s energy security, as reliance on a single pipeline could leave it vulnerable to fluctuations and price hikes.
Zsolt Hernádi, CEO of MOL, Hungary’s state oil company, has long warned of the risks associated with cutting off Russian oil imports due to the war in Ukraine. He argued that relying solely on Croatia for oil supplies is not only economically damaging but also leaves Hungary exposed to potential manipulation by Croatia. MOL has previously voiced concerns that Croatia could exploit this situation by increasing transit fees for the Adriatic pipeline, something MOL already considers excessive.
UPDATE: Ukraine clarifies position
By Friday afternoon, Podolyak reversed his statement, contradicting his earlier claims: read more HERE.
Hungarian league champions Ferencváros will fly the flag for Hungary in Europe this season after defeating Borac of Bosnia in the play-off round, but Paks and Puskás Akadémia will put away their passports for another year after both were knocked out of the European Conference League.
Ferencváros needed a penalty shootout to overcome Borac Banja Luka after Barnabás Varga’s penalty had cancelled out Grahovac’s extra-time opener following a goalless 90 minutes in the Groupama Aréna in Budapest, MLSZ said.
Indeed, the first leg in Bosnia had been a goalless draw too, but the 30 minutes of extra time in the second leg at least produced two goals, Grahovac’s against the run of play in the 104th minute and Varga’s spotkick seven minutes later after Manolovic had fouled Ferencváros’s Kady in the penalty area.
The ensuing shootout was typically dramatic, with Fradi prevailing 3-2 to secure a sixth consecutive season of group-stage football in European competition and the fourth in a row in the Europa League.
Puskás Akadémia vs Fiorentina
In Thursday night’s other fixtures invoving Hungarian teams, Puskás Akadémia held Italian giants Fiorentina to another impressive draw, Zsolt Nagy’s 97th-minute penalty kick cancelling out Moses Kean’s earlier strike to earn a 1-1 draw at home in the Puskás Aréna after a 3-3 result in Italy last week, only for the Felcsút club to lose the resulting penalty shootout 5-4.
Paks vs Mlada Boleslav
Meanwhile, Paks suffered a more comprehensive defeat at the hands of Czechia’s Mlada Boleslav, the good work of a 2-2 first-leg away draw last week going to waste as a 3-0 loss at home meant last season’s Hungarian Cup winners were knocked out 5-2 on aggregate.
Significant delays are expected in international trains arriving from Czechia and Slovakia over the coming days. Trains entering Hungary at Szob are generally delayed by 40-60 minutes.
The delays are due to maintenance work being carried out on the Czech railway network. As a result, until 29 August, international trains travelling to and from Budapest are running on modified schedules. Some services are also rerouted, resulting in longer travel times, according to an announcement by Mávinform on Sunday.
The notice further warned that trains entering Hungary at Szob may face delays of 40-60 minutes, with occasional longer delays also possible.
Changes affecting the international sections of the impacted trains can be found HERE.
The foreign ministry has contacted 165 Hungarian citizens living in Lebanon and offered them help to leave in the wake of a recent escalation of events in the Middle East; 18 Hungarian citizens and their family members are returning to Hungary in a joint operation with the defence ministry, the foreign minister said on Thursday.
Péter Szijjártósaid on Facebook that despite all the concerns raised in Europe, events in recent days had increased the risk of escalation in the Middle East conflict.
“Beyond promoting peace at all international forums and trying to prevent an escalation of events, the government’s primary responsibility … is to guarantee the safety of Hungarian people,” he said. As part of this effort, 165 Hungarian citizens staying in Lebanon were contacted by phone or electronically in the past few days, he added.
Photo: FB/Szijjártó
After receiving confirmation that they were all well, the ministry offered its help for their safest and fastest return to Hungary, provided by a Hungarian Army aircraft, he said. Eventually 18 Hungarian citizens accepted the opportunity, including seven children, and direct relatives of these Hungarian families, he said.
Photo: FB/Szijjártó
“It was unfortunately not the first such operation carried out in the region, and as it had been done before, we informed our allies about the Hungarian operation and told them that we could also help them with returning their citizens home,” he said.
A Hungarian Army aircraft has recently left Lebanon’s airspace carrying 18 Hungarians and 11 foreigners, including five Czech, a French and a Slovak citizens.
Photo: FB/Szijjártó
Read also:
Hungarian foreign minister: the EU should contact President Bashar al-Assad – Read more HERE
A cooperation of the Czech SOR and the Hungarian Ganz Transelektro Közlekedési Berendezéseket Gyártó Ltd. (GTKB) developed the Hungarian electric minibus. The new vehicle was manufactured in a Baja factory.
According to origo.hu, the new Hungarian electric minibus is 8 metres long and can carry 45 passengers. Its range is 300 kilometres. Hungarian engineers developed the bus’ engine and the software, while the chassis arrived from Czechia. The prototype made its first trip in Budapest’s City Park, and the Baja plant is ready to produce 50 of it yearly.
The development of the minibus took three years, and the vehicle is designed to help public transport in big cities. Based on Origo, demand for such buses worldwide is significant.
Ganz developed an OpCharge-type charger and a 120 kW charging device.
Hungary electric car purchases see 3rd steepest growth in Europe in June
The number of green cars grew by an annual 123.8 percent to 864 in June, the third steepest climb in Europe, the energy ministry said on Facebook on Thursday.
Citing data compiled by European Automobile Manufacturers’ Association (ACEA), the ministry said the number of new passenger car registrations in Hungary rose by 23.9 percent year-on-year to 11,724 in June.
Hybrid electric and plug-in hybrid vehicles accounted for 44 percent of sales, cars with petrol engines made up 35 percent and vehicles with diesel engines 14 percent. Fully-electric vehicles accounted for 7 percent of sales.
In January-June, new car registrations in Hungary rose by 11.9 percent year-on-year to 63,337.
Read also:
BYD to have its first European electric car plant in Hungary – Read more HERE
Number of green vehicles up five fold in the last few years
Prime Minister Viktor Orbán on Sunday declared the start of a “new era”, announcing in Vienna a new European political pact with Herbert Kickl, the head of the Freedom Party of Austria, and Andrej Babis, the former prime minister of the Czech Republic, who heads the ANO party.
“One era of European politics started in 1989 with the dismantling of the Berlin Wall, and this era has concluded” with the outcome of the European Parliament elections, Orbántold a press conference held in Vienna. “This 25-year era is now over.”
Source: FB/Orbán
He added that the decisive moment of the new era was the formation of a new European political group, “which will change European politics”.
Below is the video of the announcement. PM Orbán wrote that the European people wanted peace, order and development. However, they got war, migration and stagnation from Brussels. Their aim is to enforce people’s will.
They want a European Parliament group
According to mfor.hu, the new European party does not mean they will have a group in the new session of the European Parliament. A prerequisite for that is having at least one MEP for seven member states, and an altogether number of 23 MEPs. Orbán’s Fidesz has 9 MEPs, FPÖ 6, while Babis’s ANO won seven seats on 9 June. Moreover, the three leaders highlighted that they waited for the newcomers. Kickl even said the new alliance might be larger than journalists would think now.
Orbán said the new block would soon become the biggest in the European Parliament. He even added that it would happen in just days. After that, “the sky is the limit”.
Meloni turned Orbán down before. Photo: FB/Orbán
Orbán’s new EU party against migration, federal Europe
The deadline for founding a new parliamentary group in the European Parliament is 4 July.
The new party also shared a manifesto. The core principles are the Europe of nations, protecting the member states’ sovereignty, the borders against illegal migration, people against all other possible harms. Furthermore, they would like to uphold the member states’ veto right.
New era in Europe, Orbán believes
“One era of European politics started in 1989 with the dismantling of the Berlin Wall, and this era has concluded” with the outcome of the European Parliament elections, Orbán told a press conference held in Vienna. “This 25-year era is now over.”
He added that the decisive moment of the new era was the formation of a new European political group, “which will change European politics”.
Orbán said a political force was being formed today that would soon become “the strongest grouping” of the European right wing.
“This will happen in a matter of days,” Orbán said “The sky’s the limit thereafter,” he declared. “European politics must be changed; Europe must change,” he added.
In 20 of the 27 EU member states, parties that promised change won the European parliamentary elections, he said. But “the Brussels elite resisted,” he said. “They didn’t accept” the outcome, he added.
“They don’t want change; they want to maintain the status quo. This is unacceptable,” Orbán said, adding that the new grouping would “bring about change in the face of the Brussels elite”.
War, migration, stagnation
Meanwhile, Orbán unveiled a new “Patriots’ manifesto” that outlined the grouping’s ideals and goals.
Orbán said the European economy was in a state of crisis and its weight in the world was declining, while the threat of terrorism and migration was a constant.
Referring to the war in Ukraine, he said no one had succeeded in preventing its outbreak and no one had managed to isolate it.
“We’re living in the shadow of the war’s escalation,” he said, adding that Europeans wanted peace, order and development, while “the Brussels elite is for war, migration and stagnation”.
Notwithstanding poor external conditions, “the bad political decisions of the current Brussels elite also contributed to this crisis,” he said, adding that Europe was “uncompetitive” and “we’re on the verge of a trade war with our most important potential trading partners and they mismanaged the green transition.”
“What we have in Brussels now is not green policies, but poisonous green policies,” Orbán said, adding these “will kill us rather than cure us”. “Today, more coal is used in Europe than before the green transition was started and prices are much higher, which ruins the economy,” Orbán said.
Hungary island in liberal ocean
He said change was now under way in Europe, with several European governments having folded in light of the EP election results. This was proof that democracy only worked on a national level. National governments resigned “but the Brussels elite resisted because Brussels is not a democratic construct,” he said.
“Three parties are here before you: the strongest Austrian party, the strongest Czech party and the strongest Hungarian party,” the prime minister said. “They are taking responsibility” to launch this new grouping, he declared.
Orbán drew a distinction between politics in Hungary and “Brussels”, saying Budapest wanted to stop illegal migration, represented “the traditional family” and believed in national sovereignty.
He called Hungary an “island of difference in the great European liberal ocean”.
Orbán said he had learned from Babis that “ideas do not stand on their own; ideas must be combined with success in government, and he called Babis “the best finance minister in Europe”, who had performed “a minor financial miracle” before going on to become a successful prime minister.
Read also:
Despite PM Orbán’s protest, Ursula von der Leyen will lead the European Commission – Read more HERE
Fatal accident in PM Orbán’s convoy! – PHOTOS and details HERE
People have voted for change yet, even so, “they have been betrayed by the Brussels elite”, Prime Minister Viktor Orbán said in Saturday’s issue of daily Magyar Nemzet, adding: “We will continue to build cooperation between European right-wing parties in spite of the pro-war pact.”
Orbán: European order vanishing
“Europe is in crisis. Christian civilisation that determines the framework of our lives is disappearing,” Orbán said, adding that the European Union was in a state of decline and the bloc had been losing its economic significance for the past three decades.
“The European order has been vanishing in front of our eyes,” he said, pointing to a growing threat of terrorism and deteriorating public safety. He said that in international politics “peace, order and development” had been replaced by “war, migration and stagnation”.
Orbán said matters had been made worse by “a multitude of poor decisions taken by the Brussels bureaucracy in recent years”. He insisted that Europe was drifting a war from which it could gain nothing but had “everything to lose”.
Viktor Orbán on 12 June 2024. Photo: MTI/Máthé Zoltán
EU competitiveness weakened
The prime minister said “Brussels bureaucrats are sending the money of European taxpayers to Ukraine” and “have shot European companies in the foot” with sanctions, driven inflation up and pushed millions of European citizens into a cost-of-living crisis.
Also, they had weakened the continent’s competitiveness through tax raises and mismanaged the green transition, he said, adding that Europe was using more coal, and energy was more costly than five years ago.
Orbán said European farmers were protesting on a daily basis and inferior-quality, cut-price Ukrainian farm produce was flooding the market.
He noted that the enlargement of the EU with Western Balkans countries has stalled, arguing that the bloc needed the new member states and their economic momentum more than ever.
Due to a mismanaged migration policy, he said illegal migrants continued to flood the Schengen area. Yet Brussels “is penalising countries such as Hungary that stop the migrants and want to force them to take the migrants in,” he added.
Orbán said the Brussels bureaucrats failed to consider the interests of ordinary people and instead tried to force their own ideals such “poisonous” green policies and multiculturalism on them.
Photo: facebook.com/orbanviktor
Pro-peace parties won on 9 June
Orbán said it had been clear before the European parliamentary elections that, in light of the spiralling war in Ukraine, change was needed in Europe, adding that “the overwhelming majority” of voters had opted for parties promising change instead of “a pro-war” stance. In 20 out of 27 member states, sovereigntist or right-wing parties that campaigned with the promise of change claimed victory, he insisted.
European voters had made it clear that they wanted an end to the war in Ukraine, an end to migration, and the European economy back on a path of growth, Orbán said. As expected, people started “taking Europe back”, but “the Brussels bureaucrats launched a counter-attack”. The socialists and liberals, “who are interested in maintaining the status quo”, joined forces with the European People’s Party, and, ignoring the choice of the European people, concluded “a shameful pact”, Orbán said, insisting that the sole aim of the “pro-war pact” was to keep the Brussels elite in power.
The prime minister said the task of the right-wing parties was to enforce the will of European voters, adding that they would continue to build an alliance of European right-wing parties in spite of “the pact of the elite”.
“The right-wing parties must create strong European parliamentary groups and build cooperation between them,” he said. There will be two key events on Sunday, he said, adding that “we must look to Paris and Vienna,” adding that a big step has been taken towards change in America, too. “If everything goes to plan and God helps us, by the end of the year, the patriots will have a majority in the whole of the Western world,” Orbán said.
Orbán to meet European right-wing party leaders in Vienna on Sunday
Prime Minister Viktor Orbán will meet Herbert Kickl, the leader of the Austrian Freedom Party, and Andrej Babis, the former Czech prime minister, on Sunday in Vienna, the prime minister’s press chief said in a statement. Talks will focus on deepening relations between European right-wing parties, the statement added.
Read also:
Future sanctions from Brussels over budget deficit not the only reason for concern for Hungary – Read more HERE
Biden administration deeply concerned by Hungarian government institution – Details in THISarticle
