Magyar English News (RSS 2.0)

EU Commissioner: Hungary Has No Excessive Macro Imbalances

February 26. 2015.

bbj.hu

No excessive macroeconomic imbalances were detected in Hungary during a comprehensive examination of risks perceived earlier in the country, Hungarian news agency MTI cited Pierre Moscovici, EU commissioner in charge of economic and financial affairs, taxation and customs late yesterday. More...

Latest Statistical Reports: Investment, Retail, Construction

February 26. 2015.

Central Statistical Office

Investments in the national economy in quarter 4 of 2014 rose by 1.9% compared to the 4th quarter of the previous year. The output value of investments amounted to HUF 1,787 billion at current prices. Read full report.

- According to preliminary data, the volume of retail sales rose year-onyear by a calendar adjusted 5.6% in December 2014. Read full report.

- In 2014, 8358 new homes were built, 15% more than a year ago. While the number of new dwellings increased in Central Hungary and in Transdanubia, the negative trend has not changed in the Eastern part of the country. Read full report.

Nomura Foresees Self-Assured Economy For Hungary In The Short Term

February 25. 2015.

bbj.hu/  Christian Keszthelyi

Nomura sees the Hungarian economy taking a positive turn in the short term which could extend into the middle of the year – based on rating expectations, growth and deleveraging as well as banking sector turnaround in government policy, the Japanese financial company said today in a press release. More...

Mol Seeks Output Boost, Acquisitions After Fourth-Quarter Loss

February 24. 2015.

Bloomberg Marton Ede and Edith Balazs

Mol Nyrt., the Hungarian oil refiner which posted its biggest quarterly loss in more than five years, is seeking to raise production by 10 percent and resume acquisitions after crude prices slumped. More...

Work Starts On O’Donnell + Tuomey’s €34m Budapest Scheme

February 23. 2015.

architectsjournal.co.uk

Work has begun on O’Donnell + Tuomey’s scheme for the Central European University in Budapest. The 35,000m² project, which started on site in January, involves both renovation and new-build work at the university campus.

 

Hungary Magyar Telekom To Buy Local GTS For EUR 42 m From Deutsche Telekom

February 26. 2015.

portfolio.hu

MTel’s Board of Directors has approved today to conclude a Share Purchase Agreement to acquire a 100% stake in GTS Hungary Ltd., the leading alternative ICT provider in Hungary, for a cash and debt free purchase price of approximately EUR 42 million (ca. HUF 13bn). More...   More on MTel: Hungary Magyar Telekom wants to make investors happy

Corinthia Hotel Budapest Launches The Grand Budapest Hotel Package

February 25. 2015.

Luxury Travel Magazine

Corinthia Hotel Budapest, originally the Grand Hotel Royal, launches a new package to celebrate the Oscar success of 'The Grand Budapest Hotel' and cinematic past and present of Hungary’s capital. The buzz around Wes Anderson’s ‘The Grand Budapest Hotel’ has been firmly reinstated – as the movie ran away with four Oscars. Did Anderson perhaps get his inspiration for this enchanting hotel when he stayed at and did a back-of-house tour at Corinthia Hotel Budapest in 2012? More...

ANALYST VIEW - Hungary No Longer Among Weakest Links In CEE - BofA/ML

February 24. 2015.

portfolio.hu

Three years on since the first Grexit scare, CEE direct exposure remains most concentrated in the Balkans, but CEE’s overall fundamentals have significantly improved to provide much better defense this time around, Bank of America Merrill Lynch has said in a research note published on 20 February. Bulgaria is most exposed via trade and banking channels, followed by Romania and Serbia. Elsewhere in CEE, vulnerability from the banking sector and/or external financing has markedly shrunk since 2012, particularly in Hungary, thanks to steady deleveraging across all domestic sectors, it added. More...

EC May Axe Hungary-Russia Nuclear Plant Deal

February 23. 2015.

Sputnik

The European Commission (EC) is looking into the legality of Hungary's contract with Russia to construct new units of the Paks nuclear power plant in central Hungary, the Financial Times reported Monday. More...

Hungarian Forint Best Performer In Region In February

February 23. 2015.

International Business Times

East European currencies have all reversed a portion of their January losses in February and moved off respective multi-year lows, but the Hungarian forint has been the best performer in the group. The market now waiting for rate decision and unemployment rate from Hungary this week with deepening deflation having increased the likelihood for another rate cut despite the central bank word to hold rates until the end of this year. More...