Economy

Orbán Calls for Economic Breakthrough with Sweeping Tax and Housing Reforms
February 23, 2025
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Orbán Calls for Economic Breakthrough with Sweeping Tax and Housing Reforms

Hungarian Prime Minister Viktor Orbán has announced a series of bold measures aimed at revitalizing Hungary’s economy ahead of the 2026 national election. His government plans to launch a “100 new factories” initiative to boost employment, along with what Orbán described as “Europe’s biggest tax reduction programme.” The reforms include doubling tax breaks for families with children, introducing an income tax exemption for mothers with two or three children, and capping housing loan interest rates at 5%. Additional steps to rein in soaring food prices and expand student housing are also on the agenda, as Orbán seeks to balance growth, full employment, and fiscal responsibility.

St Pancras Unveils Plans for Direct Trains to Germany, Switzerland, and France
February 23, 2025
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St Pancras Unveils Plans for Direct Trains to Germany, Switzerland, and France

London St Pancras Highspeed, in partnership with Getlink, is set to expand its international rail connectivity, with proposals to introduce new direct routes from London to major European cities. The proposal aims to boost capacity from 1,800 to nearly 5,000 passengers per hour, offering competitive travel times of under six hours to destinations such as Cologne, Frankfurt, Geneva, Marseille, and Zurich. The move is expected to intensify competition in the cross-Channel market and drive low-carbon mobility

Türkiye and Italy Aim to Bolster Investment Partnership in High-Tech Sectors
February 18, 2025
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Türkiye and Italy Aim to Bolster Investment Partnership in High-Tech Sectors

Türkiye and Italy are set to deepen their investment cooperation in high-tech industries, with a focus on defense, aviation, and space. In a joint news conference in Istanbul, Turkish Industry and Technology Minister Mehmet Fatih Kacır and Italy’s Minister for Enterprises and Made in Italy Adolfo Urso highlighted the strategic value of this enhanced partnership. Key developments include the historic acquisition of Piaggio Aerospace by Turkish drone manufacturer Baykar, increased bilateral trade, and plans to leverage Türkiye’s technological advancements and dynamic workforce to attract further Italian investment.

Catalonia Unveils Plan to Boost Auto Sector and Dominate Spain's EV Scene
February 18, 2025
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Catalonia Unveils Plan to Boost Auto Sector and Dominate Spain's EV Scene

The Catalan government, led by President Salvador Illa, has unveiled a sweeping strategy aimed at transforming the regional automotive sector and accelerating the shift to electric vehicles. The plan, designed to mobilize €1.4 billion in public-private investment, includes a fivefold expansion of the charging network from 9,000 to 45,000 stations electrification of 90% of the regional public fleet, and incentives for individuals and companies to switch to emission-free vehicles.

Eastern Europe Boosts Minimum Wages as Germany Lags Behind
February 18, 2025
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Eastern Europe Boosts Minimum Wages as Germany Lags Behind

A recent study shows that statutory minimum wages have risen significantly in several Eastern European countries, with Romania and Bulgaria increasing their rates by 23% and 16%, respectively. In contrast, Germany saw only a modest 3.3% increase, ranking at the bottom of the EU for wage growth.

Microsoft Announces €622mn Investment in Cloud and AI Infrastructure in Poland
February 17, 2025
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Microsoft Announces €622mn Investment in Cloud and AI Infrastructure in Poland

Microsoft has committed to investing approximately €622 million by June 2026 to expand its hyperscale cloud and artificial intelligence (AI) infrastructure in Poland. The investment, which will also boost cybersecurity through a collaboration with the Polish National Defense, aims to enhance digital competitiveness, stimulate job creation, and accelerate AI adoption across the country.

UK Firms Mull Biggest Layoffs in a Decade as Business Confidence Slumps
February 17, 2025
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UK Firms Mull Biggest Layoffs in a Decade as Business Confidence Slumps

UK employers are bracing for the largest round of redundancies in ten years as business confidence hits record lows. With impending tax rises and higher employment costs including increased national insurance contributions and a 6.7% hike in the national living wage surveys by the CIPD and the FSB reveal that nearly a third of employers plan to reduce headcount. The drop in sentiment comes amid concerns over weakening consumer demand, rising inflation, and uncertainty surrounding future government policies.

World Unrest Pushes Gold Price to Record High
February 16, 2025
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World Unrest Pushes Gold Price to Record High

Gold has surged past $2,900 an ounce for the first time, defying expectations by setting new record highs despite rising interest rates and a strong dollar. Traditionally, gold should underperform when rates are high and the dollar is strong, yet its dramatic rise more than $1,000 an ounce since October 2023 and tenfold since 2000 signals deep investor unease amid geopolitical uncertainty and inflationary pressures. Meanwhile, the widening gap between gold and silver prices raises questions about whether silver might offer a more attractive hedge in the current environment.

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