Magyar English News (RSS 2.0)

Üdvözöljük a

Hungarian Chamber of Commerce



News From The Gas Field: Pannon Fuel; New LNG Terminal; Ukraine Import

July 27. 2016.

- Pannon Fuel is anticipated to begin the construction of 39 compressed natural gas (CNG) stations in Hungary in fall, the Hungarian Association for Gas-Fueled Transport (MGKKE) said, Hungarian news agency MTI reported today. More on

- A liquefied natural gas terminal (LNG) will be added to the port of Csepel on the Danube in the south of Budapest by the end of 2019, the Hungarian Association for Gas-Fueled Transport (MGKKE) said, according to a report today by Hungarian news agency MTI. More

- Ukraine increases imports of European gas. More on UAWire.

Chinese Electric Bus Maker To Build Plant In Hungary

July 26. 2016.

China's BYD, the world's biggest manufacturer of electric buses, has begun construction of its Hungarian assembly plant in Komárom, according to unconfirmed sources. The investment could be very lucrative to the company, but Hungary could also profit from it. More...

Wages May Stop Rising Soon - Raiffeisen

July 25. 2016.

Portfolio / Raffeisen

As a result of the labor shortage that has surfaced over the past year or two, wages in Hungary have began an upward climb, although the gap to other Visegrád countries remains around 15 to 20%. In the short term, the lack of workers is likely to maintain fast wage dynamics, but only competitive businesses will be able to afford these wage hikes, while others with worse starting positions will enter a vicious circle and fall increasingly behind, analysts at Raiffeisen Bank said in their quarterly assessment, adding that the current fast wage outflow is expected to slow gradually. More...

Hungary's First-Half Budget Figures Offer Some Pecularities

July 22. 2016.

Hungary posted a sizeable budget deficit in June, but that was announced two weeks ago. What is more important is what processes were in the background. More...

Szijjártó Signs Deals With Three US Companies

July 21. 2016.

Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó signed deals with three US-based companies for investments that are expected to create hundreds of jobs in Hungary, the minister said yesterday during his visit to Washington, according to Hungarian news agency MTI. More...

Hungarian Mortgage Market Picks Up In H1

July 27. 2016.

In line with earlier projections, K&H Bank expects new loans worth HUF 500 billion this year in the entire market segment, while subsidies from the CSOK home creation program for families are expected to reach HUF 40 billion. K&H, which holds about a sixth of the mortgage market, expects certain regulations to be loosened or clarified over the coming months. More...

Report Sees CEE Continuing To Outperform

July 26. 2016.

GDP growth of 3.1% in Central and Eastern Europe (CEE) in 2015 was nearly double the 1.6% growth seen in the eurozone countries. At the same time, long-term estimates see Hungary’s GDP growing by 2.1%, according to a joint press release issued today by Skanska Group, Dentons, JLL, and ABSL. More...

GKI: Hungary Economic Sentiment Index Up In July

July 25. 2016.

The economic sentiment index compiled by think tank GKI rose markedly in July, with both business and consumer expectations improving, although both figures remain below the January 2016 level. More...

Hungary Eyes Second Investment Grade In The Autumn

July 22. 2016.

BNE Intellinews / By Blanka Zoldi

With two rating agencies’ reviews scheduled for this autumn, Hungary is hoping for a second investment grade that could convince cautious investors to return to the country. After Standard & Poor's suggested  that it is unlikely to follow Fitch in upgrading Hungary in its scheduled review in September, the focus has turned to Moody’s. The rating agency left Budapest on tenterhooks at its last review in the wake of Brexit, but the market expects Moody’s to upgrade the country’s sovereign in November. More...

Mass Emigration Weighs Down On The Whole Of Europe - IMF

July 21. 2016.

During the past 25 years, nearly 20 million people are estimated to have left Central, Eastern and Southeastern Europe... The large-scale emigration - through its externalities - may also have slowed growth and income convergence in CESEE economies... The Fund’s economists also made recommendations. More... - Full report on IMF's home page.