Magyar English News (RSS 2.0)

Statistical Update: Industrial Producer Prices Decreased By 3.2%

March 31. 2015.

Central Statistical Office

In February 2015, industrial producer prices decreased by 3.2% on average as a result of changes in export and domestic prices compared to the same month of 2014. Within this, domestic sales prices fell by 4.7% and export sales prices by 2.3%. In January–February 2015 as a whole, industrial producer prices were 2.1% lower than in the same period of the previous year, domestic sales prices decreased by 4.6% and export sales prices by 0.7%. Read full report.

Amendment On Brokerages Approved

March 31. 2015.

In the wake of recent brokerage scandals, the Hungarian Parliament today approved amendments to legislation that broadens the scope of liability assigned to brokerages, Hungarian news agency MTI reported. More...

Special Report: Inside Hungary's $10.8 Billion Nuclear Deal With Russia

March 30. 2015.

Reuters / By Krisztina Than

Its currency is wounded and its economy besieged by sanctions, yet Russia still has money to spare for potential allies overseas. Even as it scrabbles for foreign funds, Moscow is poised to make a 10 billion euro ($10.8 billion) loan to Hungary, one of the European Union members most sympathetic to it. More...

China, CEE Countries Launch Promotion Year For Tourism Cooperation In Hungary

March 27. 2015.


China and Central and Eastern European (CEE) countries Thursday officially launched a year-long event to promote tourism cooperation between the two sides. More...

Hungary MKB Bank May Indeed Be Recapitalised With Taxpayer Money

March 27. 2015.

Hungary’s state-owned banks like MKB need further capital injections to make them healthy for re-privatisation, the Governor of the country’s central bank (MNB) in a lecture organised by the European Economics and Financial Centre in London on Thursday. This is a most peculiar remark for when the state acquired the bank in September MKB still had capital of around HUF 300 billion, which was about more than double the necessary volume. According to a Reuters report, Matolcsy also talked about monetary policy, saying he would not be happy with a 0% base rate. More...

Memory Of Hungarian PM, Cabinet Chief Fails On Brokerage Scandal

March 31. 2015.

The Quaestor story remains in full swing in Hungary. New details are being brought to light every day. As it turns out the luxury cars owned by the daughters of Csaba Tarsoly, the head of Quaestor, could have been seized too. The list of confiscated assets includes the ETO Park and the ETO Stadium in the northwest town of Győr. Cabinet state secretary András Giró-Szász said it is no big deal if the Prime Minister or his cabinet minister incorrectly remember a few dates a month after an event. More...

Hungary Among Countries Most Vulnerable To External Shocks

March 30. 2015.

We often hear Hungarian politicians complaining that the credit rating agencies have been failing to take into consideration the great achievements of the cabinet, arguing that the country’s economic fundamentals would warrant putting Hungary’s sovereign credit ratings back into investment grade. Although Standard & Poor’s has recently upgraded Hungary , the country remains in junk grade at all three major credit rating agencies (S&P, Fitch, Moody’s). An assessment published by The Economist perhaps will shed light on the reasons for this. More...

Szeged To Welcome HUF 2.5 Bln Incubator

March 30. 2015. / MTI

The local council and the University of Szeged, in southeastern Hungary, are planning to establish a HUF 2.5 bln business incubator in the science park adjacent to a European Union-funded superlaser center, city mayor László Botka said today according to Hungarian news agency MTI. More...

Szijjártó: Ecuador Sees Hungary As Its Regional Trading Center

March 27. 2015.

From now on, Ecuador will consider Hungary its regional trading hub in eastern Europe and Hungary will soon open an embassy and a trading house in Quito, Foreign Minister Péter Szijjártó said after talks with Ecuadorean government officials. More...

Hungary May Lower Special Levies On Telecom Sector - EcoMin Varga

March 26. 2015.

Hungary may review special taxes levied on the telecommunciations sector, said Economy Minister Mihály Varga on Wednesday. He cited rising economic growth and improving public finances as the facilitators of this possible action, but did not elaborate on the potential timing. More...