Magyar English News (RSS 2.0)

Samvardhana Motherson Begins HUF 31 Bln Plant Construction In Hungary

November 30. 2015.

bbj,hu / MTI

Samvardhana Motherson Group, an Indian automotive industry supplier, laid the cornerstone on Friday for a HUF 31 billion plant in Kecskemét, central Hungary, national news agency MTI reported. More...

This Is How Much Pressure Hungary Is Putting On The Environment

November 30. 2015.

Eurostat has timed the release of infographics tackling greenhouse gas emissions, how the different sector contribute to GHG emissions, fossil fuel energy consumptions and the status of forests for the United Nations Framework Convention on Climate Change (UNFCCC). Click here for a larger picture.

Hungarian, Chinese Business Partners Seal Deals Worth Nearly $2 Bln

November 27. 2015.

Budapest Business Journal / MTI

Hungarian and Chinese companies signed contracts with a combined value of almost $2 billion in Beijing yesterday, Hungarian news agency MTI reported today.  More...

Hungary Hunts Loopholes For Nuclear Project

November 26. 2015.

BNE INTELLINews - By Olesya Oleshko

Batting away a double-barrelled blast from the EU, Hungary insists it will plough on with the Russian-funded expansion of the Paks nuclear plant. However, that hardly looks a realistic solution. Budapest potentially faces huge fines and long project delays should it try to simply ignore Brussels, and will likely launch a hunt for loopholes to smuggle the project through, suggest analysts. More...

Hungary Amends Bank Tax Law as Government Offers Lending Reward

November 25. 2015.


Hungary presented plans to cut a special bank levy, offering additional rewards for lenders that boost credit and attempting to bring the legislation in line with European Union demands. The bill sets out a reduced tax rate of 0.31 percent in 2016 from the current 0.53 percent for bank assets exceeding 50 billion forint ($170 million), with an upper limit on payments, according to the draft posted on parliament’s website. An extra cap is pledged for later years for banks who increase lending. More..

Iran, Hungary Sign Several Documents On Mutual Co-op

November 30. 2015.

Trend News Agency- By Fatih Karimov

Hungary’s Prime Minister Viktor Orban, heading a delegation of representatives of 95 firms arrived in Tehran Nov. 30 to discuss bilateral ties with senior Iranian officials including President Hassan Rouhani. It is the first visit of a Hungarian prime minister to the Islamic Republic in the last 27 years. Iran and Hungary signed eight memorandums of understanding (MoU) on mutual cooperation, Iran’s state IRINN TV reported. More...

Hungary Banking Sector Breaks Even In Q3

November 27. 2015.

Hungary’s credit institutions closed the third quarter with HUF 1.3 billion after-tax profit, the central bank (MNB) said in its latest report on Friday. This practically means breakeven. The MNB has once again pointed out that by the end of September, the ratio of domestically controlled credit institutions’ balance sheet total to the banking sector’s balance sheet total rose to 57.2%. More...

STATISTICAL UPDATES: Retail; Investments

November 26. 2015.

Central Statistical Office

- In September 2015, the volume of retail sales, according to both raw and calendar-adjusted data, grew by 5.1% compared to the same period last year. Details.

- The volume of investments in the national economy decreased by 3.4% in the 3rd quarter of 2015 compared to the high base a year earlier. Details.

China Railway Group Team Wins $1.6 Bln Hungary High-Speed Rail Contract

November 25. 2015.


A consortium led by China Railway Group (CRG) has been awarded a 10 billion yuan ($1.57 billion) contract to build the Hungarian section of a railway linking Budapest with Serbia's Belgrade, in China's first high-speed rail win in the European Union. More...

The Budapest Cafe Perking Up A Former Red Light District

November 25. 2015.

BBC News -

It's Tuesday night and the Lumen Cafe in Budapest's 8th district is jumping. ... Peter had plucked up the courage to quit his job at an advertising agency - only to find himself launching a venture at the precise time a financial storm was about to wreck economies and companies around the globe. He and three partners stumped up €15,000 (£10,600; $16,000) to get the business off the ground. More...