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Budapest Hosts World Seed Congress As Hungary Retains Anti-GMO Stance

May 22. 2017.

Hungary Today

Innovation is key to ensuring sustainable seed production and mitigating the effects of global challenges, including climate change, Hungarian Foreign Minister Péter Szijjartó told the World Seed Congress in Budapest on Monday. More...

Trumpeting ‘One Belt, One Road,’ China Bids To Lead ‘Globalization 2.0’

May 19. 2017.

Mirror Business (Sri Lanka) / By Michael Holtz

High-speed railways in Indonesia and Hungary. Deep-water ports in Pakistan and Sri Lanka. Gas pipelines across central Asia. All are part of what is arguably the largest overseas development drive ever launched by a single nation. More...

500 Staff Face The Axe as Teva Cans Hungary Plant

May 18. 2017.

Pharmafile

Israeli pharmaceutical firm Teva has announced that it plans to cease operations at a manufacturing plant in Gödöllő in Budapest, Hungary, leaving 500 staff facing the axe. More...

Hungary's Public Debt Bounces Back in Q1

May 17. 2017.

Portfolio.hu Readers please note that although portfolio's English news service is now chargeable, this news item is accessible free of charge.

Hungary’s general government consolidated gross debt at nominal value was 74.6% of GDP at the end of the first quarter of 2017, down from 74.1% from the end of 2016, the central bank’s (MNB) preliminary financial accounts data showed on Wednesday. It is noteworthy regarding households that their financing capacity, i.e. the difference between their new liabilities and receivables, has been diminishing for several quarters now. It is also interesting that households’ currency and deposit stock decreased slightly in Q1, whereas their holdings of government securities increased markedly. More...

Hungary and China Elevate Bilateral Ties as Leaders Meet in Beijing

May 15. 2017.

Hungary Today

Hungarian Foreign Minister Péter Szijjártó told wire service MTI that the Chinese government has decided to elevate its bilateral ties with Hungary to the level of “comprehensive strategic partnership”, the highest rank in China’s diplomatic relations. More... (Photo: Chinese President Xi Jinping (R) meets with Hungarian Prime Minister Viktor Orban in Beijing announcing the establishment of a comprehensive strategic partnership - Xinhua/Rao Aimin)

STATISTICAL UPDATE: Earnings January-March

May 19. 2017.

Central Statistical Office

In the first three months of the year, both gross and net earnings grew by 11.0% compared to the same period of the previous year. Rises of 15% in the minimum wage and 25% in the guaranteed minimum wage as well as salary adjustments affecting specific areas of the public sector and the employees of state owned public service companies had an impact on earnings growth. Details...

Korean Parts Makers Acquire Plants in Hungary

May 18. 2017.

The Korea Herald

Two South Korean auto parts companies have acquired plants in Hungary in a move to better supply their products to major customers, a trade promotion agency said Thursday. Shinheung SEC and Youngshin Components have recently wrapped up the process to separately acquire local manufacturing facilities near Hungary's capital city of Budapest to produce car battery and air conditioner compressor parts, respectively, the Korea Trade-Investment Promotion Agency KOTRA said in a statement. More...

Parliament Approves Ad Tax Hike

May 17. 2017.

bbj.hu

An increase in Hungaryʼs advertising tax from 5.3% to 7.5% was approved by Parliament on Tuesday morning. The proposal put forward a fortnight ago by Lajos Kósa, parliamentary group leader of the governing Fidesz, was supported by 117 MPs, with 58 against. More...

STATISTICAL UPDATE: GDP 1st Quarter

May 16. 2017.

Central Statistical Office

The gross domestic product of Hungary was up by 4.1% in the 1st quarter of 2017 compared to the corresponding period of the previous year. The main contributors to the growth were industry and market-based services. Details

IMF Welcomes Hungaryʼs Economic Performance, But Calls for R

May 15. 2017.

Budapest Business Journal

In a statement issued Friday following regular Article IV consultations, executive directors of the International Monetary Fund (IMF) praised Hungary for its continued strong economic performance but noted that still high external and public debt levels call for rebalancing the policy mix and advancing structural reforms, Hungarian news agency MTI reported. More...