Magyar English News (RSS 2.0)

More Heavy Blows To Land On Hungarian Banking Sector

November 21. 2014.

Hungary’s ruling Fidesz party submitted a new amendment proposal to the law on foreign currency loans. More...

New Rules Could Drive Supermarket Chains Out Of Hungary, Lobby Says

November 20. 2014.

Reuters / By Gergely Szakacs and Christian Lowe

Multi-national supermarkets could be driven out of Hungary, a trade lobby said on Wednesday, after the government raised their inspection costs and threatened to shut them down if they fail to make a profit for two years. More...

Hungary Tech Firm Prezi Raises $57 Million, Eyes Acquisitions

November 19. 2014.

Reuters / By Marton Dunai

U.S.-Hungarian company, which makes online tools for creating presentations, has raised $57 million in financing from U.S. private equity firm Spectrum Equity and existing investor Accel Partners. More...

Rosetta Programme Catapults Hungary To The World’s Frontline

November 18. 2014.

Ministry of National Development Press Office

The landing of the Philae lander is a pan-European success story in which Hungary has had an outstanding role thanks to prominent representatives of the national scientific and business communities. The Government finds it important to support space research as it may facilitate the participation of Hungarian small and medium enterprises as well as university and academic research institutions in similar projects. More...

Hungary's EcoMin Varga Explains Why Tax Hikes Are Needed

November 17. 2014.

Hungary’s Economy Minister, Mihály Varga, talked on Sunday evening about the electronic toll collection (ETC) system, the hike to the advertising tax, the special tax on tobacco companies, tax authority chief Ildikó Vida and the attacks against the NAV. He has also announced that the state is to grant a HUF 60 billion guarantee so that the renovation of Metro 3 in the capital city could start as soon as possible. More...

Hungary's Orbán: We'll Choose Our Own Path With Russia

November 20. 2014.

Hungary's Prime Minister Viktor Orbán, seen by some in Brussels and Washington as cosying up to the Kremlin, said his country would not be forced to pick one side or another in a Cold War-style standoff in Europe. More...

Suzuki Hungary To Return To Two-Shift Production In December

November 19. 2014.

The Hungarian unit of Japanese carmaker Suzuki Motor Corp will return to two-shift production in December from one shift, the CEO has told a press conference. Ryoichi Oura also said the serial production of the new Vitara model will be launched in January next year.  More...

Russia's Relations With Hungary Warm As Ties With West Chill

November 19. 2014.

Reuters / By Gabriela Baczynska

President Vladimir Putin hailed Hungary as one of Russia's most important partners on Wednesday, giving his seal of approval to a budding relationship with a Soviet-era ally that is worrying some of its European Union allies. More...   Further reading from Reuters: Hungary says South Stream pipeline only way

Hungarian Lawmakers Pass Tax Package For 2015

November 18. 2014.

Hungarian lawmakers voted 128:30 in favour of tax proposals for 2015 on Tuesday. The final version no longer includes a proposal for an "Internet tax", but there are still various tax hikes MPs have passed today. More...

Hungary GDP Growth Decelerates But There Is No Drama

November 14. 2014.

Hungary’s economic output grew by 0.5% quarter on quarter in the July-September period, the Central Statistical Office (KSH) has reported on Friday. According to figures adjusted for working days, GDP grew by 3.2% year on year, it added. The consensus estimate for annual GDP growth in a Portfolio poll was 2.9%, i.e. the market was expecting a major slowdown compared to a 3.9% growth in the second quarter. More...   Further reading: Q3 GDP: Hungary likely to move from leader to laggard