Politics & Foreign Relations

   Economic News

   Business News

   Other News of Interest

   All stories

26th July, 2018

EU court says Hernadi may be extradited

The European Court of Justice (ECJ) ruled on Wednesday that Hungary had no basis for refusing to execute a European warrant for the arrest of MOL chairman and CEO Zsolt Hernadi.

Hungarian prosecutors argued that Hernadi could not be extradited to Croatia because an investigation found that no crime had been committed.

However, the Luxembourg court ruled that argument invalid, saying the execution of a European arrest warrant cannot be refused on the ground that a decision of the Public Prosecutor’s Office has closed a criminal investigation when, during that investigation, the requested person was interviewed as a witness only.

Croatian authorities issued the warrant after Hernadi was accused of giving a €10 million bribe to then Prime Minister Ivo Sanader in 2009 in order to have MOL gain a controlling stake in Croatian oil company INA.

Croatian authorities asked their Hungarian counterparts in 2011 to question Hernadi as a suspect and to deliver a summons to him.

Hungary did not comply. At the same time, the National Bureau of Investigation opened its own investigation into Hernadi, which was closed in early 2012 on the grounds that no crime had been committed.

Croatia then issued a European warrant for Hernadi’s arrest in 2013, after Croatia joined the EU.

However, the Hungarian authorities refused to execute the warrant on the ground that criminal proceedings had already been closed in Hungary in the matter.

After Hungarian authorities failed to execute another warrant issued by a Zagreb court in December 2015, the court asked the ECJ to rule on the matter.

In concluding, the ECJ said “the execution of a European arrest warrant cannot be refused on the basis of a decision of the Public Prosecutor’s Office, which closed an investigation opened against an unknown person, during which the person who is the subject of that arrest warrant was interviewed as a witness only, without criminal proceedings having been brought against that person and where the decision was not taken in respect of that person”.

The ECJ did not refer to Hernadi by name, but as AY, described as “a Hungarian national, is the chairman of the board of directors of a Hungarian company against whom criminal proceedings have been initiated in Croatia”. (24.hu; curia.europa.eu; napi.hu; portfolio.hu; profitline.hu; hvg.hu)
26th July, 2018

Digi targets investments of Ft 12-15bn

Infocommunications company Digi targets capital expenditures of Ft 12-15 billion this year, following its recent purchase of Invitel, the company announced.

That acquisition made Digi the leader in the television segment with a 30.4% market share.

The purchase also lifted the company to the number two position in the fixed-line internet and telephone segments, with market shares of 24.8% and 22.7%, respectively.

Digi acquired Invitel’s retail and small business subscribers a year ago for Ft 43 billion. The transaction was cleared by the Competition Office in May.

The number of Digi subscribers rose to 1.1 million and the company reported after-tax profit of Ft 2.2 billion last year on revenue of Ft 46.2 billion.

Digi is owned by Digi Communications, registered in the Netherlands and listed on the Bucharest Stock Exchange.

Digi Communications, majority owned by businessman Zoltan Teszari, is also a big player on the Romanian telecoms market through its subsidiaries RCS and RDS. (ma.hu; portfolio.hu; hvg.hu; 24.hu; napi.hu)
26th July, 2018

Ryanair flights cancelled

Irish budget airline Ryanair cancelled its Budapest-Barcelona flights for Wednesday and Thursday because of a strike.

Ryanair flight crews in Belgium, Portugal, Italy and Spain announced a two-day strike starting Wednesday, the biggest in the history of the airline.

Ryanair is also cancelling its two flights on Thursday evening between Budapest and Brussels Charleroi Airport.

On Tuesday, the Budapest Government Office launched a procedure against the airline. This comes after the second case in as many weeks when Ryanair forced passengers to leave checked-in luggage behind, citing the overload of its aircraft.

The announcement led to scrambles and many passengers chose not to board the plane. Many have launched complaints and sought compensation.

A Ryanair flight from Budapest arrived in Dublin without baggage on Monday, HVG reports. (propeller.hu; hvg.hu; 24.hu; napi.hu; portfolio.hu)

Contact Free Trial Subscription