**Orban Loses: Hungary's Populist Era Ends as PM Concedes**

Prime Minister Viktor Orban has conceded defeat in Hungary's national election. He congratulated opposition leader Peter Magyar on his victory. Orban, a figure who inspired populist movements worldwide, could not overcome growing dissatisfaction among Hungarian voters. His party, Fidesz, has governed for over a decade. The result signals a major political shift in Central Europe. Peter Magyar's coalition campaigned on promises to reform the country's institutions and strengthen its ties with the European Union. A formal transfer of power is expected to begin in the coming days.