Magyar English News (RSS 2.0)

Latest Statistics: Investments, Industrial Prices, Unemployment

August 29. 2014.

Central Statistical office

- Volume of investments increases by 21.2% in 2nd quarter 2014. Read full report.

- Industrial producer prices rise further - As an aggregate effect of domestic and export price changes, industrial producer prices rose by 0.5% on average in July 2014 compared to the previous month. Read full report.

- Unemployment rate is 7.9% - In May–July 2014, the number of unemployed people was 354 thousand, 92 thousand fewer than in the same period of 2013. Read the full report.

 

Budapest Hungary Gets Its First Bitcoin ATM

August 27. 2014.

cryptocoins news

Hungary’s first Bitcoin ATM can now be found in downtown Budapest inside of the well known coffee house Club Anker. The Octarine Labs-owned ATM was manufactured by the Lamassu company and will change Hungarian Forint banknotes into Bitcoin in 15 seconds and aims to accommodate those who are afraid of personal Bitcoin or online exchange bitcoin dealings. More...

Hungary Strives To Be Central Europe's Start-up Capital By 2020

August 27. 2014.

AFP - Yahoo

From a sleek, modern office in the middle of Budapest's old town, Ustream provides live video streaming to clients such as Samsung and Sony. Nearby, Prezi has created a zooming presentation tool that even U2 singer Bono used last year for a talk on global poverty. These are just two of about 200 start-ups which have sprung up in Hungary in recent years, with the government pushing for the nation to become central Europe's start-up capital by 2020. More...

Hungary’s Orban Bashes Liberal Immigration Policy

August 25. 2014.

WSJ Emerging Europe - By Veronika Gulyás

Hungary’s Prime Minister Viktor Orban on Monday lashed out against immigration, setting one of the main policy objectives of his next term in power after winning parliamentary elections in April. More...

Russian Ban Hits Hungarian Pork, Poultry Sectors

August 22. 2014.

The Pig Site

Russian sanctions are expected to harm USD 100 million in Hungarian agricultural exports. The Hungarian pork and poultry sector will be hit hardest by the Russian ban. More...

Hungary Could Set Up Public Utility Holding Next Year - Fidesz Official

August 28. 2014.

portfolio.hu

As the next round of government-mandated utility tariff reductions the retail price of electricity will be taken 5.7% lower as of 1 September. This is not the end of the line, though, and the price of industrial power will also have to be cut, said Szilárd Németh, the person responsible for utility tariff reductions in the ruling Fidesz party, at a press conference on Thursday. More...

Analysis: This Is Why Hungary's Public Debt Remains High

August 27. 2014.

Portfolio.hu

Do you know why Hungary's government debt jumped to a high level? And why it got stuck there? Is it because of the IMF credit Hungary utilised it the past? Or because the central bank needed funds to top up foreign currency reserves? While these are the typical answers, neither are actually true. However, the answer still remains relevant - if for no other reason, because Hungary's debt rate stood near the all-time high halfway through the year 2014. More...

Hungary Holds Key Rate After Two Years of Monetary Easing

August 26. 2014.

Bloomberg - By Zoltan Simon

Hungary’s central bank kept the main interest rate unchanged at a record low, in line with its guidance for a holding pattern until the end of 2015 following two years of monetary easing. More... 

Read the Central Bank's statement in full

Hungary Seeks Warmer EU-Russia Ties To Aid Business

August 25. 2014.

Reuters - Reporting by Marton Dunai; Editing by Robin Pomeroy

The Hungarian prime minister who said Europe had "shot itself in foot" by imposing sanctions on Russia, told diplomats on Monday he would seek support from other EU countries for a push to improve relations with Moscow. More...

Ernő Rubik Presented With Highest State Award

August 21. 2014.

On 20 August, Hungary’s national holiday marking the country’s founding, President of the Republic János Áder presented internationally renowned inventor Ernő Rubik with the Order of Saint Stephen. The award is presented in recognition of the most prestigious special merit in the interests of the country, an outstanding life’s work and significant honours acquired within the international arena. Nobel Prize winning author Imre Kertész has also received the highest state award at the proposal of Prime Minister Viktor Orbán. (Photo: MTI Gergely Botár)