Photo Courtesy bne IntelliNews

The European Union's executive body has officially informed Hungary of the launch of the rule-of-law conditionality mechanism that can suspend transfers of EU funding to Hungary.

The move demonstrates that the EU is not planning to give way on Hungary's violation of EU values, despite Prime Minister Viktor Orban's landslide victory in a flawed election at the weekend.

The prospect of Hungary losing EU funds has rattled markets. The benchmark BUX index tumbled 3.6% to 43,787 points. The forint sank nearly 2% to 376 against the euro after the news.

Talks on the disbursement of Hungary's Recovery and Resilience Facility (RRF) are still ongoing.

The Hungarian government had been given the chance to respond to concerns aired by the EC and the body had analysed its answers. The European Commission had come to the conclusion that it must take the next step, President Ursula von der Leyen said at the session of the European Parliament on April 5.

"With Hungary, we've been very clear the issue is corruption, and we have been very clear on the Article 7 procedure," von der Leyen said, referring to another mechanism earlier launched against the country that could suspend its EU voting rights.

In March, members of the European Parliament adopted a resolution giving their backing to the European Court of Justice's ruling in February that dismissed challenges by Hungary and Poland against the new rule of law conditionality regulation. The ruling allows the 27-nation bloc to suspend support payments to member states if they breach rule of law principles.

Hungary and Poland launched their cases after the EU introduced its rule of law conditionality mechanism in 2020, a regulation that links EU funds to adherence to the rule of law in the bloc.

"There are infringements also on other topics. We have been discussing with Hungary questions that are concerning the Resilience and Recovery Fund. Here the main requirement for reform is the anti-corruption question, and we are at the moment being not able to find a common ground and to conclude," Ursula von der Leyden added.

Hungary has requested €7.2bn in funding from the EU’s recovery fund, but Brussels has yet to approve the country’s plan and kept the money back, citing the lack of transparency in public procurements and the risk of corruption. Based on Hungary’s 2020 and 2021 economic performance, the final amount of RRF funds, if approved by the Commission, would come to €5.9bn.

Two weeks before the election, Hungarian Prime Minister Vikor Orban asked for RRF's loan facility, citing the adverse impact of the Ukraine war on the economy, the refugee crisis, and sanctions.

The government turned down the €9bn loan last year, but was forced to make a U-turn on the question as Hungary’s economy is facing the fallout of a massive pre-election spending spree and the slowdown caused by the war.

Weeks before the outbreak of the war, the government had calculated a budget adjustment of around HUF2 trillion (€5.4bn) over two years, of which HUF500bn-700bn would have come from EU funds. The government turned to the EU for help funding the pay rise of teachers. This would be unprecedented, as the EU has never disbursed funds to member countries to finance pay hikes in the public sector. 

The Commission has signalled that it is willing to be flexible in providing assistance to Hungary to manage the influx of refugees from Ukraine. Budapest is expected to receive some €400mn from the REACT-EU fund soon.

The launch of the rule-of-law mechanism came just two days after the landslide victory of the ruling Fidesz party, which won 54% of the vote and got 68% of the seats, securing the fourth straight supermajority.

In his victory speech, a jubilant Orban told his supporters that Fidesz had to overcome in the campaign the left at home, the international left, the bureaucrats in Brussels, the money of the Soros empire, but he also named Ukrainian President Volodymyr Zelenskyy.

Brussels is "singing the same old song" as the Hungarian leftwing, Gergely Gulyas, the head of the Prime Minister's Office responded to the decision, calling for the European Commission to "return to its senses and to dialogue".

"Don't punish Hungarian voters because they've expressed an opinion in the election and on the matter of the child protection act that Brussels doesn't like," Gulyas said.

The anti-LGBT referendum on Sunday was invalid as less than 50% of eligible voters cast ballots. The referendum was a vote on child protection laws, but critics say the questions amounted to discrimination against the LGBT community. Contrary to what the government said, the European Commission has denied that the legislation played any part in withholding EU funds.

The opposition parties concurred that the controversial legislation was approved with the sole purpose of diverting attention from the rampant corruption and serious backsliding of democratic values. Source: bneIntelliNews

Military aircraft has intercepted and neutralized 34 terrorists at Mangoro Village, a border community between Kaduna and Niger states.

Military sources said the Air Component of Operation Thunder Strike following credible information that at about 2 pm on 30 March 2022, about 70 terrorists on 40 motorcycles and some on foot were sighted moving towards the Akilibu – Sarkin Pawa Road, near Mangoro Village, scrambled an aircraft to intercept and neutralize the terrorists.

He said, “As the aircraft approached the scene, several terrorists were seen running in disarray on sighting the aircraft, abandoning their motorcycles to take cover within nearby bushes.

“The terrorists were subsequently engaged in different waves with rockets while those fleeing were mopped up with canons decisively.

“Feedback from local sources around Mangoro Village disclosed that 17 motorcycles including 34 dead bodies as well as 14 locally fabricated guns belonging to the terrorists were recovered”.

He however could not confirm if the said terrorists are responsible for the attack on the Abuja-Kaduna bound train.

“It is unclear if the terrorists were part of those that attacked and killed 8 passengers days ago on board a Kaduna bound train,” he said.

The locals while commending the military for their improved swiftness to emergencies also charged them to ensure they apprehend those behind the murder of passengers of the Kaduna bound train. 

The director of public relations and information Air Cdre Edward Gabkwet when contacted said the NAF aircrafts are carrying out series of interdictions in the region and recording great successes.

In a related development, 45 terrorists of the Islamic State  of the West African Province (ISWAP), were killed in ambush by its affiliates, Jama’at Ahl as-Sunnah lid-Da’wah wa’l-Jihad faction of Boko Haram in the North East of Lake Chad, top security analyst said.

The attack according to the source was led by one Mohammed Ari, a deadly spiritual warfare commander of JAS- loyal to the Bakura Buduma, in Yauma Wango and Ngaama, in Abadam local government area (LGA) of Borno State in March 24 and 28, 2022.

The top security analyst in Lake Chad,  Zagazola Makama has obtained a video showing the brutal mass execution of the ISWAP fighters in an operation which lasted more than four hours.

The 6:64 minutes amateur video, shows the  terrorists mostly aged between 15-20,  dressed in a unique attire with their heads tied with red materials.

Before they were killed, Boko Haram disarmed the ISWAP of their weapons and paraded them to a nearby position, apparently a march to their graves, then shot them at close range.

One terrorist was heard saying ‘don’t spare any of them.’ The terrorists later began cutting the throats of the ISWAP, while others were burnt alive inside their Hilux trucks.

The footage later showed bodies lying face-down in the sand and others that were burnt beyond recognition. The Buduma terrorists were later seen celebrating the victory on motorcycles and chanting Allahu Akhbar.

The bloodbath between the two groups of the terrorists has continued to rage especially in the axis of Lake Chad, Abadam, Niger Republic, Sambisa Forest and Mandara Mountain with hundreds of casualties recorded so far on both sides within the last one year.

On February 26, the Buduma insurgents ambushed and  killed one Abu-Sadiq Burubouru,  Gabara/Galta close to Mandara Mountain in the South of Borno.

On Feb 9, another fight broke out  between the ISWAP terrorists and Bakura Buduma faction at Tumbus of  Bazarkowo Island in deep Lake Chad.

On Feb 15, Muhammed Ari, spiritual warfare commander of JAS Bakura faction was declared  wanted for spearheading onslaught against ISWAP in Kaduna Ruwa, Tumbum Ali, Kirta, Sabon Tumbu, Kwatalo and Mardas general area of the LCB.

Commanders who participated in the attack included the Khayd of the Budumas led by Malam Abdul Faruk, an indigene of Chad Republic and his 2nd in Command one Malam Kaka Modu also a Buduma from Nguimi, Niger Republic.

ISWAP later coordinated a reprisal attack headed by  Amir Mohammed Mustapha, Jubril, Muhammed Yusuf, Malam Hassan, Malam Ba’ana among others, in company of hundreds of fighting militants and killed about 20 JAS terrorists in Tumbum Gini, Kiri Kiri and Kwantan Mota.  By Tarkaa David and Francis Okoye, Leadership

MORE investment deals have been sealed between Zimbabwe and Rwandese investors as the three day Zimbabwe -Rwanda Trade and Investment Conference ended in Harare this Wednesday.

As the curtain comes down on the Zimbabwe Rwanda Trade and Investment Conference which started on Monday, it has emerged that the deliberations have been largely successful as more business and investment deals have been sealed.

This was revealed by Zimtrade Chief Executive Officer, Mr Allan Majuru at a joint news conference held in Harare this Wednesday.

“This was a fruitful event that will harness trade ties between the two countries and I can tell you that apart from the MOUs which were signed on the first day of the conference we have further come up with deals including in mining where Rwanda has signalled a huge interest to invest in. We have also come up with deals in energy generation as well agro-processing and this is courtesy of this summit,” he said.

Deputy Chief Executive Officer of Rwanda Development Board, Zephanie Niyonkuru described their tour as defining moment in opening up investment avenues between Zimbabwe and Rwanda.

“So far, part of our delegation and most of the business people who came with us have clinched investment deals with their counterparts here in Zimbabwe, but I am impressed by the opportunities that lie in the area of financing where our Financial Centre can become a conduit to strike some structured finance deals with our trading partners especially given the fact that Financial Centres are not so common in this Southern part of Africa,” said Niyonkuru.

Impressed by the local investment landscape and opportunities, Mr Niyonkuru revealed that part of their delegation has extended its stay in Zimbabwe to explore more investment opportunities in the country. - Owen Mandovha, ZBC News