Magyar English News (RSS 2.0)

Magyar Telekom Launches M-Wallet In Hungary

November 26. 2014.

Mobile World Live

Following a one-year pilot programme run by the Hungarian Mobile Wallet Association, Magyar Telekom, a subsidiary of Deutsche Telekom, has launched a mobile wallet service called Telekom MobilTarca.  And the operator’s two local rivals — Vodafone and Telenor — are keen to follow. More...

Hungary Keeps Main Rate at Record Low 2.1% for 4th Month

November 25. 2014.

Bloomberg - By Zoltan Simon

Hungary’s central bank left its benchmark interest rate unchanged at a record low for a fourth month, in line with its guidance for steady borrowing costs until end-2015 following two years of easing. More...

Hungary Rejoins Moscow-Based International Banking Group

November 24. 2014.

Budapest Business Journal

The Council of the International Investment Bank (IIB) supported the renewal of Hungary's membership in the bank at its November 20-21 meeting in Sofia, the National Economy Ministry said. The request received unanimous support from the representatives of member countries. Members of Moscow-based IIB, established in 1970, are: Bulgaria, the Czech Republic, Cuba, Mongolia, Romania, Russia, Slovakia and Vietnam. More...

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...

Picture Of The Day: Hungary “Innovations & Inventions” Coin Series Continues

November 26. 2014.

The National Bank of Hungary has issued their latest coin in the popular “Innovations, Engineers & Inventions” series, with this coin paying homage to one of Hungary’s most celebrated engineers – Abraham Ganz (1814 – 1867) whose name today is still revered and a part of the landscape of today’s modern industrialized Hungary. Originally born in Embrach, Switzerland, Ganz is considered one of the country’s most prolific inventors and a pioneer of heavy industry which transformed the Kingdom of Hungary as well as that of the Austro-Hungarian Empire into one of the most important sources for large and heavy precision machinery during the latter half of the 19th century. More on Coin Update's website.

Moody's: Hungary's Economic Growth Prospects Have Improved, But Debt Likely To Reduce Only Gradually

November 25. 2014.

Hungary's (Ba1 stable) medium-term economic growth prospects have improved, though they remain low and complicate the government's efforts to reduce its substantial debt burden, says Moody's Investors Service in a recently published report. However, the rating agency notes that the country's high wealth and economic and financial integration within Europe and its foreign-owned banking sector support its credit profile.  More...

Hungary Not To Restart Gas Flows To Ukraine Before Filling Up Storages - Minister

November 24. 2014.

Hungary will not be able to restore reverse natural gas flows to Ukraine before it filling up its own storage units with gas, Development Minister Miklós Seszták said on Monday. 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...