Magyar English News (RSS 2.0)

Hungary Richter, Magyar Telekom Have A Bright Future Ahead - Fund Managers

July 03. 2015.

The grim sentiment on global markets spilled over to the Hungarian stock market too in June, and - like its western peers - the BUX index also fared poorly last month. Fund managers surveyed by Portfolio, however, improved their outlook for the following months. They have become especially upbeat about Magyar Telekom and Richter, and the popularity of these two stocks has risen to the highest level in a long time. More...

Hungary Records Lowest Q1 Budget Shortfall Since 2000

July 02. 2015.

The deficit of Hungary’s general government sector was HUF 160.1 billion or 2.0% of gross domestic product (GDP) in the first quarter of 2015, according to preliminary data published by the Central Statistical Office (KSH) on Thursday. The gap is HUF 57.6 billion less, or 0.8 percentage point lower as a proportion of GDP compared to the same period of 2014. This was the strongest start of the year since 2000. The lower-than-base-period deficit stemmed from revenues increasing at a higher rate than expenditures, the stats office added. More...

Hungary Forint Gains On Greek "Capitulation"

July 01. 2015.

Hungary’s forint has not moved much in either direction versus the euro by 11 A.M. on Wednesday, but then a leaked letter by the Greek Prime Minister the HUF started to firm and reached its strongest level this week. The responses given by European leaders quickly sobered investors up, and now it seems the Greek government is desperately trying to get out of their predicament but can only do so much, and this will lead to more fluctuations on the markets. More...

Hungary: Government Seeks To Lure Young Expats Back Home

July 01. 2015.

While the authorities have been engaged in high profile attempts to block immigrants, including plans to build a fence along the border with Serbia, they are eager to entice Hungarians back to the country through the "Come home, young person!" scheme. More...

Hungary Pays GE Capital Almost 200 Billion Forints For Budapest Bank

June 30. 2015.

Corvinus International Investment Plc., member of the MFB Group, has paid USD 700 million for a 100% stake in Budapest Bank Zrt. to General Electric Capital Group, which transfers ownership rights of Budapest Bank’s total assets and interests to the Hungarian state. More...

Hungary Signs For EIB Loan For €500 Million

July 02. 2015.

Customs Today

Hungary signed for a €500 mln loan from the European Investment Bank (EIB) on Monday, state news agency MTI reported yesterday. The agreement was signed by EIB Vice President László Baranyay and National Economy Minister Mihály Varga. More...

Varga Encourages Diversification In Industrial Sectors

July 01. 2015.

National Economy Minister Mihály Varga warned against over-reliance on the automotive industry as an engine of economic growth while speaking at a business forum organized by the American Chamber of Commerce (AmCham) yesterday. More...

Hungry in Hungary: The Best Late-Night Dining in Budapest

July 01. 2015.

ForbesLife /

It’s always a trick finding a dependable late-night bite on the road in Eastern Europe, and especially so in a country with a notoriously fatty cuisine. More...

Statistical Updates: IPP, Earnings, Employment, Retail

June 30. 2015.

Central Statistical Office

- In May 2015, industrial producer prices were 1.0% higher than in the same period of the previous year. Details.

- In January–April 2015, average earnings increased by 3.9% compared to the same period of the previous year. Details.

- In March – May 2015, the number of employed people was 102 thousand more than a year ago. The employment rate of people aged 15–64 increased to 63.2%. Details. - In the same period, the unemployment rate decreased by 1.0 percentage point to 7.1%. Details.

- In April 2015, the volume of retail sales increased by 4.1% according to raw data and rose by 5.0% adjusted for calendar effects compared to the same period of the previous year. Details.

Hungary Eyes Saudi Market With Setup Of Halal Slaughterhouses

June 29. 2015.

Albawaba Business

Hungary is seeking to set up halal slaughterhouses so that it can sell livestock in the Saudi market. Saudi businesspeople should invest in and oversee these facilities, said Levente Magyar, minister of state for economic diplomacy at the Ministry of Foreign Affairs and Trade. He said Hungary has a $130 billion food products market. More...