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☆ Czechs and Slovaks see storms disrupt traffic and cut power
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +1 min

Feb 4 (Reuters) - Gale-force winds and snow storms cut power supplies to thousands of Czech households on Saturday and closed the main east-west highway in Slovakia, officials and local media said. In Slovakia's Zilina region, authorities called on people to stay indoors and avoid non-essential travel, especially to the north of the country, as winds reached more than 120 km per hour in the Tatra mountains. A section of the D1 highway near the Tatra mountains was closed for several hours after around 30 cars were caught in an accident due to heavy snowfall, local media reported. In the Czech Republic, 15,000 households were still without electricity in the afternoon - down from around 90,000 in the morning - after strong winds brought down trees and disrupted the grid, while dozens of train services were canceled, CTK news agency reported. Reporting by Robert Muller; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ ECB set to raise rates again in May, policymakers say
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

While neither would specify where rate hikes could end, Simkus said the ECB could be approaching a peak. "I think that we are already moving towards that terminal rate." Indeed, analysts polled by the ECB expect the euro zone central bank to eventually conquer inflation - but not for another two years. Markets currently price the terminal rate at 3.35%, suggesting that some investors see just a 25-bp move after the already signalled March move, while others see 50. Companies surveyed by the central bank were planning to raise prices at a slower pace and with less conviction.

This would take the rate the ECB pays on bank deposits to the highest level since November 2008, after a steady climb from a record low of -0.5% in July. Reuters GraphicsThe ECB said in December that rates would be increased "at a steady pace" until it is happy inflation is heading back down to its 2% target. BNP Paribas also thought the ECB might take out the reference to a "steady pace" of rate hikes or offset it so that a 50-basis-point increase would be "not predetermined (but) still a possible outcome". And an ECB survey showed banks were tightening access to credit by the most since the 2011 debt crisis - usually the harbinger of lower growth and slowing inflation. To some observers, this meant the ECB would be wise not to commit to any future policy move.

[1/9] Czech presidential candidate Petr Pavel and his wife Eva Pavlova react at his headquarters, after results are announced for the country's presidential election, in Prague, Czech Republic January 28, 2023. Pavel, a 61-year-old retired general running for office for the first time, won 58.3% of the vote with all voting districts reporting final results, defeating billionaire ex-premier Andrej Babis, a dominant but polarising force in Czech politics for a decade. Pavel has also fully backed continued support for Ukraine in its defence against Russia's invasion. Babis, 68, a combative business magnate who heads the biggest opposition party in parliament, had attacked Pavel as the government's candidate. Ukrainian President Volodymyr Zelenskiy congratulated Pavel on his election on Twitter and said he looked forward to close cooperation.

LONDON, Jan 23 (Reuters) - Global aluminium production rose by a marginal 2.0% last year, a rate of growth that was down from 2.7% in 2021 and the slowest since 2019, according to the International Aluminium Institute (IAI). Global aluminium production by region change versus 2021EUROPE POWERS DOWNWestern European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. As ever more smelters switch to green energy sources, global aluminium production is ever more dependent on seasonally variable power availability. Such regional adjustments are now part and parcel of the global aluminium production landscape but they have injected a new degree of volatility into aluminium's previously slow-changing supply side.

☆ Referendum in Slovakia fails to bring early vote closer
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

Jan 22 (Reuters) - A referendum in Slovakia failed to open a path to early elections after most voters avoided the polling stations on Saturday, quashing the opposition's plan to bring the contest forward. Only one popular vote - on joining the European Union - has passed the threshold since Slovakia's independence in 1993. An early election can be held in Slovakia if the constitution is changed to permit parliament's four-year term to be shortened. Such a change of constitution would need approval by a referendum or by at least 90 votes in the 150-seat parliament. Political parties are due to hold another round of talks on Sunday evening, where they will discuss prospects for holding early elections which could take place before the summer or in autumn.

☆ Shiffrin claims 78th World Cup win, closes on record
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

Dec 27 (Reuters) - American Mikaela Shiffrin claimed her 78th World Cup victory in the giant slalom in Semmering, Austria on Tuesday, taking her to within four wins of compatriot Lindsey Vonn's women's record of 82. Shiffrin clocked a combined time of two minutes 7.18 seconds to beat Slovakia's Petra Vlhova by 0.13 and Italian Marta Bassino by 0.31. "You hope that you're in the right shape, and you can bring the right intensity from the start, and I felt really good today. Shiffrin's last win in the discipline came just over a year ago, in Courchevel, France in the build-up to the Beijing Olympics. The 27-year-old has racked up four wins this season and leads the overall World Cup standings by 205 points from Italy's Sofia Goggia.

President Caputova will dismiss the cabinet but ask it to stay on until she at some point appoints a new one. SaS joined a leftist opposition party in bringing the no-confidence vote, accusing the government of not helping people cope with the higher energy costs. The political clash has prevented support for Heger's 2023 budget plan, which includes spending to offset energy prices. Sulik told a televised briefing SaS wanted to back the creation of a new government and did not support calling early elections. The poll-leading opposition party Hlas, though, called early elections the only option.

☆ A Patriot missile battery from the US could create new headaches for Russia in Ukraine and throw a wrench into its terror campaign
▼ + stars: | 2022-12-14 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Ukraine is reportedly slated to receive a US-made Patriot missile defense battery. The US is poised to send Ukraine a Patriot missile defense battery that is already stationed overseas. According to the Center for Strategic and International Studies' Missile Defense Project, it is the primary air and missile defense system that the US has in its arsenal. Patriot missile defense system at Schwesing military airport in Germany on March 17, 2022. A NATO Patriot air defense missile system stands at Slovakia's Sliac air base on April 27, 2022.

☆ The G-7 may cap Russia's oil price — but it won't dent Moscow's war chest, analysts say
▼ + stars: | 2022-11-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

(Photo by JOE KLAMAR / AFP)The Group of 7 nations are in talks to cap Russian oil at $65 and $70 a barrel — but analysts say it likely won't have a significant impact on Moscow's oil revenues even if it's approved. Russia has threatened to it will not supply oil to countries setting and endorsing the price cap. In a note on Thursday, he said that current Russian oil shipments face minimal disruption from the European Union denying shipping and insurance services. He agreed that the discussed price cap won't make much of a dent or deter Moscow in its war against Ukraine. "Russia's seaborne oil exports have increased to China, India and Turkey at the expense of advanced economies following the Ukraine war," he added.

☆ Shiffrin claims second World Cup slalom win of weekend
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +1 min

[1/3] Alpine Skiing - FIS Ski World Cup - Slalom - Levi, Finland - November 20, 2022 Mikaela Shiffrin of the U.S. celebrates after winning the women's slalom competition Jussi Nukari/Lehtikuva via REUTERSNov 20 (Reuters) - American Mikaela Shiffrin won her second slalom of the weekend on Sunday to secure the 76th World Cup victory of her career. The 27-year-old triumphed again in Levi, Finland ahead of Switzerland's Wendy Holdener (+0.28), with Slovakia's Petra Vlhova (+0.68) in third. World Cup overall champion Shiffrin is now five wins behind Lindsey Vonn, who tops the women's list of most World Cup race victories, and 10 behind Ingemar Stenmark of Sweden for the overall record. "I really didn’t expect today, even after the first run, everyone who is racing is so strong right now," Shiffrin told reporters. Reporting by Tommy Lund in Gdansk, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Shiffrin starts the season with her 75th World Cup win
▼ + stars: | 2022-11-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] Alpine Skiing - FIS Ski World Cup - Slalom - Levi, Finland - November 19, 2022 Mikaela Shiffrin of the U.S. celebrates vicory alongside second placed Sweden's Anna Swenn Larsson and third placed Slovakia's Petra Vlhova Jussi Nukari/Lehtikuva via REUTERSNov 19 (Reuters) - Mikaela Shiffrin won the first race of the Alpine ski season in Levi, Finland, to secure the 75th World Cup victory of her career on Saturday. World Cup champion Shiffrin won the slalom in front of Sweden's Anna Swenn Larsson (+0.16), with Petra Vlhova (+0.20) from Slovakia taking third place. "It’s the first race of the season and I’m feeling good with my skiing, my skis felt amazing," the 27-year-old American said. "It was a nice feeling on the first run, I felt pretty good, but I was holding back a little bit. "On the second run I made adjustments and it felt like a really good pace and tempo.

☆ Hungary foreign minister says Druzhba pipeline can be restarted soon
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hungary's Minister for External Economy and Foreign Affairs Peter Szijjarto gestures during a General Affairs meeting in Luxembourg June 22, 2021. John Thys/Pool via REUTERSBUDAPEST, Nov 16 (Reuters) - The Druzhba oil pipeline can likely be restarted within a short time as the pipeline itself had not been damaged, Hungarian Foreign Minister Peter Szijjarto said in a video on his Facebook page on Wednesday. Szijjarto also said, after talking with the Polish foreign minister, that Hungary was waiting further information from Poland on the results of their investigation into the blast that occurred in Poland near the Ukrainian border. Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline had been temporarily suspended on Tuesday, according to oil pipeline operators in Hungary and Slovakia. "Its somewhat reassuring news that according to current information, the Druzhba pipeline itself was not damaged, only one element of the infrastructure that operates the pipeline, a power station," Szijjarto said.

BUDAPEST/PRAGUE, Nov 15 (Reuters) - Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline has been temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. The Druzhba pipeline network originates in Russia and splits in Belarus into Ukraine, where it splits again, supplying several countries in Eastern and Central Europe that depend on that oil, including refineries in landlocked Hungary, Slovakia and the Czech Republic. Czech pipeline operator MERO has not observed disruptions so far in the flow of oil through the Druzhba line, a spokeswoman said on Tuesday. Polish pipeline operator PERN said late on Tuesday that oil is flowing normally via the Polish section of the line. The Druzhba pipeline network originates in Russia and extends into Eastern and Central Europe.

☆ Slovakia's InoBat eyes electric vehicle battery plant in Serbia
▼ + stars: | 2022-11-14 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said. InoBat has said it wants to build a gigafactory in western Europe and one in eastern Europe. Last month InoBat said it had signed a declaration of intent with Spain's government to build a gigafactory in Valladolid. The company aims to build battery production capacity in 4 GWh increments starting in 2025 - costing around 350 million euros each - as contracts are signed. Ideanomics is an investor in InoBat, as are mining group Rio Tinto (RIO.L) and Czech utility CEZ (CEZP.PR).

It wants 3.8 billion pounds ($4.4 billion) to build a gigafactory in northern England but its plans are hanging by a thread as it struggles to lure enough investment. French battery startup Verkor, for example, announced on Wednesday that it had raised 250 million euros ($249 million) to fund a megafactory. The European Battery Alliance (EBA) acknowledges Asian firms, and Chinese companies in particular, are likely to increase their market share in the coming years, helped by their track record and offtake agreements. "Even if we have the production in Europe, it doesn't mean we have the know-how or the control," she said. The EU has approved 6.1 billion euros since 2019 in funding by member states for battery research and innovation while Britain has a 1 billion pound fund to support investments in EV supply chains.

☆ ECB policymakers stick with hike plans even as recession looms
▼ + stars: | 2022-10-28 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. But policymakers on Friday appeared to be on message that rates will keep going up. Investors now see ECB rates peaking at around 2.75%, above levels near 2.5% seen on Thursday after the ECB's rate hike and language tweaks. RECESSIONThe policymakers' reinforcement of the rate hike message comes as a recession now looks almost certain, and will likely prompt a barrage of further criticism from European leaders. But ECB chief Christine Lagarde pushed back on the criticism on Thursday, arguing that breaking inflation was the ECB's chief mission and governments could help by providing targeted support for the most vulnerable.

☆ Slovakia's InoBat intends to build electric vehicle battery factory in Spain
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MADRID, Oct 19 (Reuters) - Slovakia's battery manufacturer InoBat said on Wednesday it had signed a declaration of intent with the Spanish government to set up an electric vehicle battery factory in the city of Valladolid in central Spain. The declaration of intent is not a finalised agreement and other locations, including the United Kingdom, remain under consideration for its Western European gigafactory, the company added in a statement, explaining that it plans to make a decision on the location before the end of the year. According to the Spanish Industry Ministry, the plant is expected to cost 3 billion euros ($2.94 billion) and would create more than 2,000 direct jobs. InoBat considers Valladolid an attractive location due to its wealth of talent, access to renewable energy, proximity to equipment manufacturers and strong transport links. ($1 = 1.0206 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Inti Landauro, editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

☆ 'Radicalised teenager' killed two outside Slovakia gay bar - PM
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

People embrace one another near the site of a shooting in Bratislava, Slovakia October 13, 2022. REUTERS/Radovan StoklasaBRATISLAVA, Oct 13 (Reuters) - A "radicalised teenager" shot dead two people outside a gay bar in Slovakia's capital Bratislava, Prime Minister Eduard Heger said. A gunman killed two people and wounded another near the Teplaren bar in the city centre on Wednesday evening, police said. "I strongly condemn a murder of two young people shot dead in Bratislava last night by a radicalised teenager," Heger wrote on Twitter. Slovak media reported the main suspect had posted messages with the phrases "hate crime" and "gay bar" hashtagged on Twitter.

Strengthening the case for another 75 basis point increase, German inflation jumped to 10.9% this month, far beyond expectations for a reading of 10%. "There is no easing in sight, and next year the inflation rate is only likely to fall because energy prices are unlikely to rise again as strongly as this year, partly due to government intervention," Commerzbank economist Ralph Solveen said of the German inflation figures. While few governors ventured to estimate where interest rate hikes could end, de Cos said that models suggest a significantly lower terminal rate than markets now expect. "On the basis of current information, the median terminal rate value across models is at 2.25%-2.50%," de Cos said. Rate hike talk is intensifying even as recession fears rise.

☆ Slovak parliament approves NATO membership for Finland, Sweden
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Sept 27 (Reuters) - Slovakia's parliament on Tuesday ratified the entry of Finland and Sweden to NATO, becoming one of the last countries to back the military alliance's expansion. Finland and Sweden sought to join NATO this year in response to Russia's invasion of Ukraine. In the 150-seat parliament, 126 lawmakers supported Finland's entry, and 124 voted in favor of Sweden's membership bid. Hungary's parliament has the motion on Finland and Sweden's NATO membership on its agenda, but no date is set as lawmakers return after a summer recess. Russia, which calls its actions in Ukraine "a special military operation", sees the entry of Finland and Sweden as a destabilising move.

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