Central Europe is paralyzed with heavy torrential rain that has caused widespread flooding in many regions. Watch to know more.

Europe: Floods Wreak Havoc with Overflowing Rivers, Widespread Power Outages

As devastating floods continue to wreak havoc in Central Europe, the European union has announced ten billion dollars in cohesion funds for the flood-hit countries.

Devastating floods ravage Central Europe

Devastating floods have swept through Central Europe, claiming 17 lives and destroying numerous homes. The unprecedented disaster has left communities struggling to cope with the aftermath as rescue efforts continue. Stay tuned for the latest updates on this tragic situation.

Devastating Floods Ravage Central Europe: 17 Lives Lost, Several Homes Destroyed

The death toll in the extreme weather and flooding let loose by storm Boris in central Europe has risen to 22. This comes after three more victims were reported in Poland and one in Austria.

'Boris' Storms Through Central Europe, Death Toll Rises to 22

Flooding sparked by Storm Boris in Central Europe has burst dams, Knocking out power and killing at least 18 people as more people were evacuated. Watch to know more.

Floods batter Central Europe, at least 18 dead

Central Europe: Flood furry kills seven in Central Europe

In the heart of Central Europe, despite a slight ebb in inflation, shoppers remain hesitant and cautious about their spending habits, reflecting a deeper-rooted uncertainty in the region's economic recovery.<o:p></o:p>

This is based on a Reuters report. <o:p></o:p>

Last week's frenzy over a technical glitch that momentarily offered an Electrolux oven at a mere 1 per cent of its list price in Hungary exemplifies the desperation for bargains amid ongoing economic challenges.<o:p></o:p>

According to Peter Toth, head of Central and Eastern Europe South sales area at Electrolux, weak consumer sentiment persists in 2024 as individuals gravitate towards lower prices and defer non-essential purchases. <o:p></o:p>

This sentiment echoes across the region, where governments hoped a surge in consumer spending would counterbalance weakened export demands and revitalise the economy.<o:p></o:p>

Despite expectations for recovery, both the Czech Republic and Hungary faced economic setbacks, with the former revising its growth forecast downwards due to sluggish consumption. <o:p></o:p>

Even Poland, anticipated to witness significant wage increases, experienced mixed consumer spending patterns in January, reflecting a cautious approach towards expenditure.<o:p></o:p>

Economists at Bank Pekao expressed scepticism regarding the Polish consumer's potential, predicting a year dominated by savings rather than a consumption surge. <o:p></o:p>

While some sectors like vehicle sales saw growth, others, including clothing, faltered, indicating a nuanced economic landscape.<o:p></o:p>

Tomas Prouza, President of the Czech Trade and Tourism Association, anticipates a gradual rebound in consumer demand, particularly in leisure and higher-quality goods, towards the latter half of the year. <o:p></o:p>

However, pessimism looms, with a PricewaterhouseCoopers survey revealing subdued revenue growth expectations among Hungarian executives.<o:p></o:p>

Witold Orlowski, Chief Economic Advisor at PwC Poland, doesn't foresee an imminent consumer boom in Central and Eastern European countries.<o:p></o:p>

Lukasz Kozlowski, chief economist at the Federation of Polish Entrepreneurs, predicts a modest recovery in retail trade for 2024, albeit hindered by potential reinstatement of food sales tax and sustained borrowing costs.<o:p></o:p>

Additionally, the lingering psychological impact of Germany's economic weakness, the region's primary export destination, casts a shadow over consumer behaviour. <o:p></o:p>

Pawel Ropiak, an economist at Polish lender BGK, highlights that despite supportive fiscal and monetary policies, consumer spending may remain subdued, as inflation eroded savings, fostering a culture of caution.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

In the heart of Central Europe, despite a slight ebb in inflation, shoppers remain hesitant and cautious about their spending habits, reflecting a deeper-rooted uncertainty in the region's economic recovery.

In the heart of Central Europe, despite a slight ebb in inflation, shoppers remain hesitant and cautious about their spending habits, reflecting a deeper-rooted uncertainty in the region's economic recovery. This is based on a Reuters report. Last week's frenzy over a technical glitch that momentarily offered an Electrolux oven at a mere 1 per cent of its list price in Hungary exemplifies the desperation for bargains amid ongoing economic challenges. According to Peter Toth, head of Central and Eastern Europe South sales area at Electrolux, weak consumer sentiment persists in 2024 as individuals gravitate towards lower prices and defer non-essential purchases. This sentiment echoes across the region, where governments hoped a surge in consumer spending would counterbalance weakened export demands and revitalise the economy. Despite expectations for recovery, both the Czech Republic and Hungary faced economic setbacks, with the former revising its growth forecast downwards due to sluggish consumption. Even Poland, anticipated to witness significant wage increases, experienced mixed consumer spending patterns in January, reflecting a cautious approach towards expenditure. Economists at Bank Pekao expressed scepticism regarding the Polish consumer's potential, predicting a year dominated by savings rather than a consumption surge. While some sectors like vehicle sales saw growth, others, including clothing, faltered, indicating a nuanced economic landscape. Tomas Prouza, President of the Czech Trade and Tourism Association, anticipates a gradual rebound in consumer demand, particularly in leisure and higher-quality goods, towards the latter half of the year. However, pessimism looms, with a PricewaterhouseCoopers survey revealing subdued revenue growth expectations among Hungarian executives. Witold Orlowski, Chief Economic Advisor at PwC Poland, doesn't foresee an imminent consumer boom in Central and Eastern European countries. Lukasz Kozlowski, chief economist at the Federation of Polish Entrepreneurs, predicts a modest recovery in retail trade for 2024, albeit hindered by potential reinstatement of food sales tax and sustained borrowing costs. Additionally, the lingering psychological impact of Germany's economic weakness, the region's primary export destination, casts a shadow over consumer behaviour. Pawel Ropiak, an economist at Polish lender BGK, highlights that despite supportive fiscal and monetary policies, consumer spending may remain subdued, as inflation eroded savings, fostering a culture of caution. (With inputs from Reuters)

Central European shoppers remain cautious amid economic uncertainty despite inflation dip

Storms battered parts of Southern and Central Europe, France, Italy and Austria. All reported casualties are caused by heavy rain. The storms followed by an intense heatwave affected most of Europe.

Storms batter South and Central Europe, kills at least 12

With some relaxation to lockdown restrictions, which are in place due to coronavirus crisis, film production is expected to resume in Hungary and the Czech Republic, Central Europe's biggest production hubs, in the coming Summer. 
 
"The shows that left is all starting to formulate calendars on the basis of expectations...that would allow them to move forward," the agency quoted Adam Goodman of Mid Atlantic in Budapest as saying.

Also read:&nbsp;<a href="http://13.235.153.162/entertainment/us-cinemas-to-not-reopen-even-after-new-federal-guidelines-by-donald-trump-293554" hreflang="en">US cinemas to not reopen even after new federal guidelines by Donald Trump</a> 
 
He expects to begin prepping for his international clients in June and July to commence shooting by September. 
 
Mid Atlantic Films and Stillking Films have co-produced titles including Sony's 'Spider-Man: Far From Home', Warner Bros. and Sony's 'Blade Runner 2049', 20th Century Fox's 'The Martian', and also Netflix's 'The King'.

Also read:&nbsp;<a href="http://13.235.153.162/entertainment/china-to-open-over-200-cinema-halls-in-shanghai-this-weekend-288992" hreflang="en">China to open over 200 cinema halls in Shanghai this weekend</a> 
 
"People within the film industry in the Czech Republic are cautiously optimistic," said Stillking's David Minkowski, who oversees productions in both countries. 
 
The shooting production in both Hungary and the Czech Republic were halted during March as a safety measure to combat the spread of coronavirus. 
 
Bringing ease on the lockdown restrictions many production houses, cinemas, and other institutions are planning to resume their work.One among them is cinemas in Hong Kong which are set to reopen from Friday but under proper security measures. 
 
Similarly, after keeping the doors of the film sets shut for a long period of time in the wake of coronavirus crisis, Rome's film industry is also partially set to reopen, but under heightened restrictions.

With some relaxation to lockdown restrictions, which are in place due to coronavirus crisis, film production is expected to resume in Hungary and the Czech Republic, Central Europe's biggest production hubs, in the coming Summer.

With some relaxation to lockdown restrictions, which are in place due to coronavirus crisis, film production is expected to resume in Hungary and the Czech Republic, Central Europe's biggest production hubs, in the coming Summer. "The shows that left is all starting to formulate calendars on the basis of expectations...that would allow them to move forward," the agency quoted Adam Goodman of Mid Atlantic in Budapest as saying. Also read: US cinemas to not reopen even after new federal guidelines by Donald Trump He expects to begin prepping for his international clients in June and July to commence shooting by September. Mid Atlantic Films and Stillking Films have co-produced titles including Sony's 'Spider-Man: Far From Home', Warner Bros. and Sony's 'Blade Runner 2049', 20th Century Fox's 'The Martian', and also Netflix's 'The King'. Also read: China to open over 200 cinema halls in Shanghai this weekend "People within the film industry in the Czech Republic are cautiously optimistic," said Stillking's David Minkowski, who oversees productions in both countries. The shooting production in both Hungary and the Czech Republic were halted during March as a safety measure to combat the spread of coronavirus. Bringing ease on the lockdown restrictions many production houses, cinemas, and other institutions are planning to resume their work.One among them is cinemas in Hong Kong which are set to reopen from Friday but under proper security measures. Similarly, after keeping the doors of the film sets shut for a long period of time in the wake of coronavirus crisis, Rome's film industry is also partially set to reopen, but under heightened restrictions.

Central Europe's production hubs may reopen studios in summer

It`s the kind of manoeuvring that might make the Game of Thrones` shrewdest operator Tyrion Lannister feel right at home.&nbsp;As streaming giants Amazon, Netflix and Hulu prepare to splash out on their next fantasy blockbusters and dystopian dramas, Central European countries are slugging it out to get a grab a slice of their bumper production budgets. 
 
Experienced crews, lower labour costs and generous production incentives have long attracted international filmmakers to the Czech Republic and Hungary but other countries in the region are now getting into the game. 
 
The Czechs and Hungarians are both considering raising their incentives after Romania approved a production rebate of up to 45 percent in 2018 and Poland introduced a 30 percent cash rebate in February to keep pace with its neighbours. 
 
A new European Union directive due to come in this year is also expected to spur investment as it will require video-on-demand platforms selling to European audiences to ensure at least 30 percent of their catalogues are European works.&nbsp; 
 
"This is a new era," said Agnes Havas, chief executive of the Hungarian Film Fund told Reuters, noting that the Netflix series "The Crown" and Amazon Prime Video`s "Hanna" were shot in Hungary.&nbsp; 
 
"What we see is we started at 30 percent (incentives) and now we are looking at the other countries in Europe and we will evaluate the situation and see whether we should potentially think about raising it again in the future." 
 
BITG media analyst Rich Greenfield estimates Amazon will spend $5 billion to $6 billion in 2019 on content with Netflix laying out about $15 billion - and a significant portion of the Netflix budget will flow overseas.&nbsp; 
 
"We are aware there is a shift in global production and you can`t ignore the big streaming companies," Anna Dziedzic of the Film Commission Poland told Reuters. In 2018 Netflix filmed "1983" in the country, the company`s first original Polish Netflix series. 
 
"They are one of the biggest players now. You have to adjust to the changing environment and you have to have them in mind," Dziedzic told Reuters. 
Amazon and Netflix declined to comment on their plans in the region. 
 
GAME OF THRONES EFFECT 
 
A landscape dotted with castles and rolling countryside makes central Europe a versatile setting for increasingly popular historical and fantasy shows looking to cash in on the success of series such as "Game of Thrones". 
 
"The types of shows being shot have dramatically changed," said David Minkowski, head of production at Stillking Films, which co-produced Amazon`s neo-noir fantasy "Carnival Row" and Hulu`s historical series "Das Boot", in the Czech Republic.

 
"Call it the Game of Thrones effect. A lot of it is fantasy or historical that naturally gravitates to this part of the world," he told Reuters, adding that the company was now working on fantasy drama "The Witcher" for Netflix. "The typical production centres are bursting at the seams." 
 
Dziedzic at the Film Commission Poland said she has also received requests from international companies wanting to use post-Soviet locations and brutalist Communist architecture for science fiction series. 
 
This has helped push international investment in regional production to record highs, leaving studios booked a year in advance and crews forced to turn away work, industry professionals say. 
 
"There is now an ever increased premium on local crew relationships and good access to infrastructure and studios which need to be planned up to 12 months in advance of production," added Stillking`s Managing Director Matthew Stillking. 
 
"It`s a boom time ... likely to last several years as the sector becomes more competitive with a perfect storm of increased consumer viewing demand and more platforms needing content to compete for customers."&nbsp; 
 
`IT WILL ROCKET` 
 
Foreign investment in the Czech film industry leapt nearly 1.2 billion crowns to a record 4.8 billion ($210 million) on 1,072 shooting days for 38 foreign series and films in 2018, according to the Czech Film Commission. 
 
Investment is expected to remain at that level or higher this year, though Czech plans to increase cash rebates on offer for film makers from 20 percent now could be a game changer. 
 
"It will rocket once the incentives are raised," Pavlina Zipkova, head of the Czech Film Commission, told Reuters. "The government has not increased it yet but we strongly believe it will happen later this year." 
 
In Hungary, spending on a total of 333 productions last year amounted to 110 billion forints (385 million), with 84 percent of the investment coming from international productions including Hollywood blockbusters "Terminator: Dark Fate" and "Gemini Man." 
 
This was up from 108 billion in 2017, when "Red Sparrow" and "Colette" were made in Hungary but Havas at Hungary`s Film Fund expects the new EU rules to accelerate the streaming-fuelled production boom.

The rise of streaming services has also shifted the types of productions in the region. Hungary attracts more blockbuster films these days while episodic series tend to gravitate towards the Czech Republic, said Tomas Krejci, founder of Milk and Honey Pictures and Prague Studios. 
 
This helped Prague Studio`s turnover jump more than 50 percent in 2018 - and Krejci predicts demand will remain strong as top notch crews shooting historical shows are more than a third cheaper than in rival countries such as Spain. 
 
"The demand for historical shows is getting stronger," Krejci said whose company has produced "Haunted" for Netflix and Amazon`s "Patriot" and the second season of "Lore." 
 
"Here it`s not just the phenomenal historic architecture but also the vast amount of props, costumes and local talent that make it cheaper and easier to make these kinds of shows." 
&nbsp;

It`s the kind of manoeuvring that might make the Game of Thrones` shrewdest operator Tyrion Lannister feel right at home. As streaming giants Amazon, Netflix and Hulu prepare to splash out on their next fantasy blockbusters and dystopian dramas, Central European countries are slugging it out to get a grab a slice of their bumper production budgets.

It`s the kind of manoeuvring that might make the Game of Thrones` shrewdest operator Tyrion Lannister feel right at home. As streaming giants Amazon, Netflix and Hulu prepare to splash out on their next fantasy blockbusters and dystopian dramas, Central European countries are slugging it out to get a grab a slice of their bumper production budgets. Experienced crews, lower labour costs and generous production incentives have long attracted international filmmakers to the Czech Republic and Hungary but other countries in the region are now getting into the game. The Czechs and Hungarians are both considering raising their incentives after Romania approved a production rebate of up to 45 percent in 2018 and Poland introduced a 30 percent cash rebate in February to keep pace with its neighbours. A new European Union directive due to come in this year is also expected to spur investment as it will require video-on-demand platforms selling to European audiences to ensure at least 30 percent of their catalogues are European works. "This is a new era," said Agnes Havas, chief executive of the Hungarian Film Fund told Reuters, noting that the Netflix series "The Crown" and Amazon Prime Video`s "Hanna" were shot in Hungary. "What we see is we started at 30 percent (incentives) and now we are looking at the other countries in Europe and we will evaluate the situation and see whether we should potentially think about raising it again in the future." BITG media analyst Rich Greenfield estimates Amazon will spend $5 billion to $6 billion in 2019 on content with Netflix laying out about $15 billion - and a significant portion of the Netflix budget will flow overseas. "We are aware there is a shift in global production and you can`t ignore the big streaming companies," Anna Dziedzic of the Film Commission Poland told Reuters. In 2018 Netflix filmed "1983" in the country, the company`s first original Polish Netflix series. "They are one of the biggest players now. You have to adjust to the changing environment and you have to have them in mind," Dziedzic told Reuters. Amazon and Netflix declined to comment on their plans in the region. GAME OF THRONES EFFECT A landscape dotted with castles and rolling countryside makes central Europe a versatile setting for increasingly popular historical and fantasy shows looking to cash in on the success of series such as "Game of Thrones". "The types of shows being shot have dramatically changed," said David Minkowski, head of production at Stillking Films, which co-produced Amazon`s neo-noir fantasy "Carnival Row" and Hulu`s historical series "Das Boot", in the Czech Republic. "Call it the Game of Thrones effect. A lot of it is fantasy or historical that naturally gravitates to this part of the world," he told Reuters, adding that the company was now working on fantasy drama "The Witcher" for Netflix. "The typical production centres are bursting at the seams." Dziedzic at the Film Commission Poland said she has also received requests from international companies wanting to use post-Soviet locations and brutalist Communist architecture for science fiction series. This has helped push international investment in regional production to record highs, leaving studios booked a year in advance and crews forced to turn away work, industry professionals say. "There is now an ever increased premium on local crew relationships and good access to infrastructure and studios which need to be planned up to 12 months in advance of production," added Stillking`s Managing Director Matthew Stillking. "It`s a boom time ... likely to last several years as the sector becomes more competitive with a perfect storm of increased consumer viewing demand and more platforms needing content to compete for customers." `IT WILL ROCKET` Foreign investment in the Czech film industry leapt nearly 1.2 billion crowns to a record 4.8 billion ($210 million) on 1,072 shooting days for 38 foreign series and films in 2018, according to the Czech Film Commission. Investment is expected to remain at that level or higher this year, though Czech plans to increase cash rebates on offer for film makers from 20 percent now could be a game changer. "It will rocket once the incentives are raised," Pavlina Zipkova, head of the Czech Film Commission, told Reuters. "The government has not increased it yet but we strongly believe it will happen later this year." In Hungary, spending on a total of 333 productions last year amounted to 110 billion forints (385 million), with 84 percent of the investment coming from international productions including Hollywood blockbusters "Terminator: Dark Fate" and "Gemini Man." This was up from 108 billion in 2017, when "Red Sparrow" and "Colette" were made in Hungary but Havas at Hungary`s Film Fund expects the new EU rules to accelerate the streaming-fuelled production boom. The rise of streaming services has also shifted the types of productions in the region. Hungary attracts more blockbuster films these days while episodic series tend to gravitate towards the Czech Republic, said Tomas Krejci, founder of Milk and Honey Pictures and Prague Studios. This helped Prague Studio`s turnover jump more than 50 percent in 2018 - and Krejci predicts demand will remain strong as top notch crews shooting historical shows are more than a third cheaper than in rival countries such as Spain. "The demand for historical shows is getting stronger," Krejci said whose company has produced "Haunted" for Netflix and Amazon`s "Patriot" and the second season of "Lore." "Here it`s not just the phenomenal historic architecture but also the vast amount of props, costumes and local talent that make it cheaper and easier to make these kinds of shows."

The 'Game of Thrones' effect: Central European film industry on a roll

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