In the Czech Republic, Andrej Babiš and his ANO party won the parliamentary elections on October 3–4, 2025, receiving about 34.7% of the vote. Petr Fiala’s party, which previously led the Spolu coalition, came in second with ~23.4% of the vote. The election results were analyzed by the Experts Club information and analytical center.
Babiš faces a difficult task in forming a coalition: his party did not win a single-party majority, and cooperation with right-wing and populist parties — the SPD (Freedom and Direct Democracy) and the Motorists movement — is being considered.
Babiš has promised to increase social benefits, reduce taxes, and focus more attention on intra-European issues. He has repeatedly criticized substantial military and material assistance to Ukraine and promised to review the Czech Republic’s participation in the initiative to supply ammunition to Kyiv. At the same time, Babiš is trying to position himself as a pro-European politician, although his rhetoric often aligns with nationalist and Eurosceptic forces.
Several possible consequences for Ukraine can be identified from the results of the Czech elections:
1. Reduction of preferential support and military aid. The new government may seek to reduce the Czech Republic’s contribution to collective assistance to Ukraine or review its financial commitments, especially regarding the ammunition supply program. Babiš has already stated that he intends to “reduce support.”
2. A change in diplomatic tone. The Czech Republic may shift the focus of its foreign policy away from confrontation with Russia, especially if the government seeks more pragmatic relations within the EU and Central Europe.
3. Increased influence of right-wing and populist movements in the region. Babiš’s victory could stimulate the growth of nationalist and Eurosceptic parties in neighbouring countries and increase tensions over Kyiv’s policies in Central Europe. The Czech Republic may join the camp of countries that criticise sanctions or delay common European decisions.
4. Risks for Ukraine’s integration. The Czech Republic’s change of course could affect support for Ukraine within the EU, influence “stabilization funds,” and lobbying for European support at the pan-European level.
The current changes in the Czech Republic are a key indicator of how quickly the political landscape of Central Europe is changing. It is important for Ukraine to monitor the format of the coalition that will be formed and the foreign policy program of the new Czech cabinet.
Earlier, the Experts Club information and analytical center called the elections in the Czech Republic one of the most important in the world in 2025. A video about elections around the world is available on YouTube:
According to Serbian Economist, Hungary is preparing to tighten tax supervision in a number of economic sectors, including real estate rentals through online platforms, delivery and courier services, and cryptocurrency transactions.
According to Daily News Hungary, the Minister of Economy has submitted two bills to parliament that would require foreign platforms to provide Hungarian tax authorities with detailed data on users and their transactions starting in 2026.
The following will be subject to regulation:
1) private individuals renting out apartments through Airbnb and similar services;
2) couriers and drivers working with Wolt, Uber, and other platforms;
3) investors trading cryptocurrencies through Revolut, Binance, and other exchanges.
Tax authorities will have direct access to information about the income of Hungarian individuals and legal entities, bypassing the self-declaration system.
According to the documents, service providers will be required to provide the company name, registered address, tax number, and personal data (name, date of birth, transaction volume).
Experts note that Hungary’s initiative is not limited to combating landlords — it covers the entire digital economy segment, where control was previously difficult.
“The aim is to create a system of transparency that will increase tax revenues without raising base rates,” the government notes.
Analysts believe that the new rules could affect the rental market in Budapest and other major cities. For foreign citizens living in Hungary and renting apartments through Airbnb, tax risks and administrative obligations will increase.
“Until now, many foreigners have used Hungary as a platform for investing in the rental business. Now, some of them may reconsider their strategy, which in the long run will lead to a reduction in the supply of short-term rentals and, possibly, an increase in prices in the long-term segment,” real estate market experts note.
Hungary is traditionally considered one of the EU countries with relatively low corporate taxes (9%), but the upcoming tightening of control over the digital economy shows the government’s desire to expand the tax base.
CRYPTOCURRENCIES, HUNGARY, real estate rental, tax supervision
Moldova is launching a new visa category for digital nomads, designed for professionals who work remotely.
The visa is intended for foreigners who can confirm their remote work and stable income.
It is valid for up to one year with the possibility of extension, allowing holders to work and live in the country between trips.
Requirements include proof of income above a certain threshold, medical insurance, and no criminal record.
Under the visa, holders will be able to take advantage of preferential tax treatment or special tax conditions depending on their place of residence.
The country seeks to strengthen its position as an attractive destination for IT and creative sector professionals. Digital nomads bring revenue to the economy through accommodation, rent, and consumption of services and goods. This further stimulates the development of infrastructure, coworking spaces, and international relations.
Moldova is joining the ranks of countries introducing special visa regimes to attract remote workers. Similar schemes are already in place in Georgia, Portugal, Estonia, and other countries seeking to strengthen their digital economies and diversify their sources of income.
Private JSC Novoselivskyi Mining and Processing Plant (NGZK, Kharkiv region) increased its net profit by 6.1% in 2024 compared to 2023 — reaching UAH 18.938 million.
According to the company’s annual report filed with the National Securities and Stock Market Commission, net revenue rose by 11.6% to UAH 168.553 million.
Retained earnings at the end of 2024 stood at UAH 86.672 million.
Founded in 2000, the plant specializes in sand, gravel, and clay extraction.
As of Q1 2025, Silica Holding LLC (Ukraine) owns 94.8205% of the company’s shares.
Authorized capital amounts to UAH 21.25 million.
The international vertically integrated pipe and wheel company Interpipe reduced its net profit by 16.6% year-on-year in January–June 2025, to $107.357 million from $128.740 million.
According to the company’s interim report, profit before tax decreased by 12.1% to $142.643 million, while operating profit dropped by 17.6% to $142.227 million. Revenue grew by 6.8% to $572.267 million.
At the end of June 2025, cash and equivalents totaled $263.166 million (compared to $292.093 million a year earlier).
Revenue from the pipe segment amounted to $436.844 million ($388.949 million in H1 2024), from the railway product segment – $122.252 million ($127.159 million), and from the steel segment – $170.643 million ($180.498 million).
Operating profit in these segments reached $78.289 million, $17.750 million, and $46.359 million respectively.
EBITDA for the pipe segment totaled $85.101 million ($50.856 million), railway products – $25.741 million ($25.347 million), steel – $54.884 million ($54.259 million), with total company EBITDA at $165.557 million ($130.273 million).
In 2024, Interpipe increased its net profit by 10.9% to $280.479 million and profit before tax by 12.2% to $327.191 million. Operating profit fell by 6% to $337.047 million, while revenue rose by 6.2% to $1.05 billion.
Cash at year-end 2024 amounted to $285.504 million (vs. $247.473 million in 2023).
Interpipe is a Ukrainian industrial company producing steel pipes and railway products. Its goods are supplied to over 50 countries. In 2024, the company paid UAH 5.5 billion in taxes.
Its structure includes five industrial facilities: Interpipe NTRP, NMTZ, Niko-Tube, Dnipromet, and the DniproSteel electric steelmaking complex.
The company employs about 9,500 people.
The ultimate owner of Interpipe Limited is Ukrainian businessman and philanthropist Viktor Pinchuk and his family.
Due to the full-scale war, the mining and metallurgical group Metinvest reduced its annual revenue from $10-12 billion to $5-6 billion, while remaining a profitable company, its CEO Yuriy Ryzhenkov said in an interview with the British newspaper The Times.
The war has significantly affected the financial performance of Metinvest, which sells a significant portion of its metal products in Ukraine and exports iron ore, flat-rolled products, and semi-finished products to 51 countries, including China, India, and the US.
According to Ryzhenkov, “before the war, the business usually had an annual income of $10-12 billion, and now this figure is around $5-6 billion. Despite this, the company remains profitable, and the CEO considers the impact of Trump’s tariffs to be insignificant.”
At the same time, it is noted that Metinvest’s largest enterprises were bombed and put out of operation, including the Mariupol metallurgical plants, which were one of the first battlefields. Metinvest’s revenue has halved, and its workforce has shrunk to around 50,000. Tens of thousands of people have lost their jobs at the group’s enterprises; 8,000 are now serving in the Armed Forces, and 764 employees have been killed.
Despite these losses, top management has managed to keep those who remained in the company motivated. Metinvest is one of the largest private donors to the Ukrainian army, and its steel is used for shelters and military equipment.
“Employees feel that they are part of the resistance. And they are proud of it,” said the CEO.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine—in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions—as well as in the European Union, the United Kingdom, and the United States. The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
