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OTPʼs PortfoLion Invests USD 5 mln in Hungarian Startup Starschema

02. 21. 2018. 18:32

bbj.hu

Venture capital fund manager PortfoLion, a member of the OTP Group, Hungaryʼs biggest commercial lender, is investing USD 5 million in big data company Starschema, PortfoLion said yesterday, as reported by national news agency MTI. More...

Deputy Prime Minister: Hungary Against EU Plans to Tighten Gun Regulations

02. 21. 2018. 18:15

Hungary Today

Hungary is joining forces with the Czech Republic and Poland to counter European Union plans “to tighten gun rules on the excuse of the fight against terrorism”, Deputy Prime Minister Zsolt Semjén said.  More...

STATISTICAL UPDATE: Average Gross Earnings Amounted to HUF 297,000

02. 20. 2018. 16:19

Central Statistical Office

In December 2017, average gross earnings amounted to HUF 327,700, 13.5% higher than a year earlier. In January–December 2017, average gross earnings amounted to HUF 297,000 and average net earnings to HUF 197,500. In the twelve months of the year, both gross and net earnings grew to the same extent, by 12.9% 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

MOL Posts Outstanding Profit in Fourth Quarter

02. 20. 2018. 16:16

MTI via bbj.hu

Hungarian oil and gas companyʼs fourth-quarter net income rose 76% year-on-year to HUF 76.6 billion, lifted by higher revenues and a reduced financial loss, shows an earnings report released Tuesday morning and summarized by state news wire MTI. More...

Market Leader REHAU Expands Business in Hungary

02. 20. 2018. 16:11

HIPA Press

REHAU, the world's market leader automotive polymer supplier is building a new manufacturing plant in Hungary. Provider of polymer-based solutions, REHAU will manufacture lacquered external components in the new plant for the automotive industry. The EUR 150 million investment will help the facility to become one of the world's most state-of-the-art plants. The project assisted by the Hungarian Investment Promotion Agency (HIPA), will create approximately 700 new jobs in the upcoming years. More...

Hungarian Cryptocurrency to be Launched in March

02. 20. 2018. 00:16

bbj.hu

The Korona Development Team presented Korona, the Hungarian cryptocurrency, at a press conference at the weekend. The developers claim that it will differ from pseudo currencies, which are not suitable for actual transactions, according to a press release sent to the Budapest Business Journal. More...

Hungary's 'Mészáros & Co.' Remains Interested in Local Telenor Arm

02. 16. 2018. 20:23

Portfolio.hu

Hungary’s Konzum Nyrt., an interest of Lőrinc Mészáros, an ally of Prime Minister Viktor Orbán, maintains its interest in the telecommunications sector, Chairman-CEO Gellért Jászai told InfoRadio in an interview late on Thursday. He added that if Telenor’s local operation does indeed go up for sale, it could be a potential investment target for his company. The banking and insurance markets are also strategic businesses where Konzum would like to expand in, he said. More...

Better Off in Berlin? Think Tank Argues that Wage-Rent Ratio Worse in Budapest than in Many Western Capitals

02. 16. 2018. 20:19

Hungary Today

At a recent event, experts from the Civitas Institute, a Budapest-based think tank, discussed the challenges facing young Hungarians who are at the beginning of their professional careers. Particular attention was paid to the financial struggles that, from a certain perspective, make it more financially attractive for Hungarians to live in London or Berlin than in Budapest. More...

This Solar-Powered Sidewalk Can Charge an Electric Vehicle

02. 15. 2018. 21:24

Digital Journal / By Karen Graham

As efficiency and durability in solar panels improves, we're seeing them installed in more and more creative places. Budapest, Hungary-based startup Platio has installed solar pavers on a sidewalk, paired with a charging station for electric cars. More...

Company of Former GE Hungary Head to Buy GE Lighting EMEA

02. 15. 2018. 15:27

Budapest Business Journal

The company of the former chairman of the Hungarian unit of General Electric (GE), Jörg Bauer, has agreed to buy GEʼs lighting business in Europe, the Middle East, Africa and Turkey, as well as its global automotive lighting business, GE announced on Wednesday. The sides did not reveal the transaction price. More...

Current Account Surplus Up in Q4

02. 14. 2018. 14:42

MTI- Econews via Budapest Business Journal

Hungary had a current account surplus of EUR 884.7 million in the fourth quarter of 2017, up from EUR 805.8 mln in Q3, state news wire MTI-Econews calculated from preliminary balance of payments data released by the National Bank of Hungary (MNB) on Wednesday. More...

STATISTICAL UPDATE: Economic Performance Grows by 4.4%

02. 14. 2018. 14:38

Central Statistical Office

The gross domestic product of Hungary was up by 4.4% according to raw data and by 4.8% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2017 compared to the corresponding period of the previous year. The main contributors to the growth were market-based services and construction. In 2017, GDP rose by 4.0%. Details...

Hungary Lowering VAT On Food

02. 13. 2018. 17:16

by Ulrika Lomas, Tax-News.com, Brussels

The Hungarian Government has said that it will continue its policy of reducing rates of value-added tax on various foodstuffs in 2018 to boost domestic agriculture and reduce food prices. The Ministry of Agriculture said in a recently published statement that additional VAT cuts on food will follow up those introduced on January 1 this year, when VAT on pork offal and by-products and fish was reduced from the standard rate of 27 percent to five percent. More...

Hungary Allots EUR 1 Bn for Investors in the Philippines

02. 13. 2018. 17:04

Philippine Daily Inquirer

Hungary has allotted 1 billion euros (or more than P63.48 billion) for companies that plan to do business with the Philippines, following a recently concluded trade and investment mission in the European country, top officials said. More:

STATISTICAL UPDATE: Construction

02. 12. 2018. 14:29

Central Statistical Office

The volume of construction output was 35.0% higher in December 2017 than the low base a year earlier. Based on seasonally and working day adjusted indices, construction output increased by 3.9% in December compared to the previous month. In 2017, construction output grew by 29.6% year-on-year. In the year as a whole, construction producer prices rose by an average of 5.2% compared to 2016. Details

Fine Arts Museum to Reopen Later this Year

02. 12. 2018. 14:20

Hungary Today

This year, exhibitions of Frida Kahlo, Francis Bacon, Lucian Freud and the School of London, and Dezső Korniss, among others, will be on display at the Hungarian National Gallery (MNG) and the Museum of Fine Arts. The latter institution will reopen after three years of renovations in October. More...

STATISTICAL UPDATE: External Trade

02. 09. 2018. 14:41

Central Statistical Office

In EUR terms, both exports and imports were up by 2.5% in December 2017 compared to the same period of the previous year. Trade surplus increased by EUR 12 million. The turnover may have been influenced by the fact that the number of working days was 2 days fewer in December 2017 than a year earlier. In 2017, exports were up by 8.4% and imports by 11%, and the trade surplus was EUR 8.2 billion. Details...

New Hungarian Smartphone App Helps People With Language Disorders Speak

02. 09. 2018. 14:35

Hungary Today

Verbalio, a Hungarian tablet and smartphone application created by the young developer Balázs Zsombori, is a widely accessible and easy-to-use program which helps people with spoken language disorders to communicate with others.  More...

Szijjártó Boasts Record Investment Promotion in 2017

02. 08. 2018. 16:26

Budapest Business Journal

“The largest ever number and highest ever value of investment arrived in Hungary last year via the government’s investment promotion system; 96 projects brought a total of EUR 3.5 billion in investments,” Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference Wednesday to announce an investment by Turkish-owned concern Metyx. More...

Hungary Launches Fraud Probe into EU-Funded Projects

02. 08. 2018. 16:16

Politico - By Zach Sayer

Public lighting projects funded by the European Union and run by a company once co-owned by the son-in-law of Prime Minister Viktor Orbán are under investigation by Hungarian authorities after the European Anti-Fraud Office (OLAF) found “serious irregularities” and “conflict of interest” in the contracts, Reuters reported. More...

Best Creative Projects of 2017: Highlights of Hungary Awards Announced

02. 07. 2018. 15:56

Hungary Today

The fifth awards ceremony of Highlights of Hungary, the first and only creative collection that selects its nominees on a professional basis but without the boundaries of categories, was held on 1 February at the József Katona Theatre. Ten projects were selected and awarded on the basis of public votes of 15,000 people. More...

INSIGHT: Enter the Robots - Automation Fills Gaps in East Europe's factories

02. 07. 2018. 15:45

Reuters - Gergely Szakács

Plant manager Gabor Kiraly remembers the meeting a couple of years ago when he and his Austrian bosses learnt how severe the worker shortage in Hungary was about to become - it was, he said, a “shocking realisation”.  More...

eBay Increasingly Attractive for Hungarian Entrepreneurs

02. 06. 2018. 16:39

bbj.hu

E-commerce is booming in Europe, new data released by the eBay online marketplace shows. Close to 10,000 Hungarian sellers have registered on eBay since 2015, of which 2,725 were last year. More...

Hungary’s Tourism Industry has been Steadily Growing Over the Past Seven Years

02. 06. 2018. 16:34

Hungary Today

The managing director of Hungary’s tourism agency (MTU) has said that the country remains a top destination, attributing its record of safety as a reason that visitors are drawn here. Zoltán Guller told a news conference that guest nights had grown by 50% since 2010, amounting to 30 million last year. He added that commercial accommodation revenue increased by 112% compared with seven years earlier. More...

STATISTICAL UPDATE: Retail

02. 05. 2018. 13:10

Central Statistical Office

In December 2017, the volume of sales in retail shops increased by 4.7% compared to the same period of the previous year. In 2017, the volume of sales – according to calendar adjusted data – was 4.8% higher than in 2016. Details

Hungary Central Bank's Nagy Affirms Loose Policy Stance - Newspaper

02. 05. 2018. 12:53

Reuters

The National Bank of Hungary expects to keep monetary conditions loose for the foreseeable future, with the base rate remaining steady until the end of 2020, Deputy Governor Marton Nagy told the daily Vilaggazdasag in an interview published on Monday. More...

STATISTICAL UPDATES: Industrial Prices; External Trade

02. 02. 2018. 15:50

Central Statistical Office

- Industrial producer prices as a whole were 3.9% higher in December 2017 than in the same period of the previous year. Domestic output prices increased by 3.6% on average, within which the prices of manufacturing, representing a weight of two-thirds, rose by 5.2%. Details...

- In November 2017, the export volume increased by 5.0%, the import volume by 6.8%, and the surplus was EUR 713 million, EUR 84 million less than the figure in November last year. In the first eleven months of 2017, the external trade surplus was EUR 7.7 billion. Details...

Viktor Orbán Keeps a Close Eye on his Financials

02. 02. 2018. 14:00

bbj.hu

Prime Minister Viktor Orbán increased his savings by HUF 251,000 in 2017, Bertalan Havasi, press officer of the Prime Minister, said on Wednesday, cited by current affairs news portal hvg.hu. His declared wealth is dwarfed by the rapidly accumulating riches of Lőrinc Mészáros, his close ally and mayor of his birthplace, Felcsút. More...

TRAVEL NEWS: Mobile Sauna; Sziget; Budapest Sights

02. 01. 2018. 15:16

- Budapest has created the ultimate sauna, and it’s a bus on the banks of the Danube. A refitted bus on the banks of the Danube is offering pop-up sauna sessions for tired tourists who can’t keep up with the Budapest party scene. More on The Calvert Journal.

- No Glastonbury this year? No problem - head to Sziget in Budapest instead. Stop being gutted Glastonbury isn't happening this year. There's a better festival with cheaper beer, cleaner toilets and warmer weather - and you need to get involved. More on Liverpool Echo.

- Reconsider Budapest for its castles, markets and cuisine. The capital of Hungary may not be a gay stronghold, but thrives as a gastronomical, historical and architectural gem. More on GayStarLoves.

Indonesia's Telkom Invests in Hungary-Based Mobile Payments Company

01. 31. 2018. 16:35

Nikkei Asian Review

Indonesia's state-owned telecommunications company on Wednesday said it has agreed to buy a 30.4% stake in a Hungary-based mobile payment service provider. Telekomunikasi Indonesia, known as Telkom, will pay $6 million for the shares in Cellum Global.

Accenture Expands Business in Hungary

01. 31. 2018. 16:25

Budapest Business Journal

After hiring an additional 150 employees in Hungary last year, the local unit of global professional services firm Accenture is looking at hiring a further 200 in 2018. In addition, it is expanding its Accenture Technology Services and Accenture Digital capabilities in Hungary via the new Accenture Advanced Technology Center in Budapest. More...

Opinion: How The European Union Became Divided On Russia

01. 31. 2018. 12:00

ZeroHedge / Authored by Xander Snyder via MauldinEconomics.com

Last week, the prime ministers of Hungary and Bulgaria criticized EU policy toward Russia for being too harsh. The European Union imposed sanctions against Russia in response to Moscow’s intervention in Ukraine, but Hungary and Bulgaria are concerned that the EU’s continued anti-Russia stance could pose a security threat and does not benefit either country. More...

STATISTICAL UPDATES: Employment, Unemployment

01. 30. 2018. 16:19

Central Statistical Office

In the period of October–December 2017, the employment rate of people aged 15–64 increased to 68.8% and the unemployment rate decreased by 0.7 percentage point to 3.8%.

The employment rate among the population aged 15–64 was 68.2% in 2017, 1.6 percentage points higher than in 2016, while the unemployment rate was 4.2%, 1.0 percentage point lower than in the previous year. 

Hungary’s Central Bank Holds Rates after Easing Debut Mishap

01. 30. 2018. 16:15

Bloomberg / by Marton Eder

Hungary’s central bank left interest rates unchanged on Tuesday, as monetary policy makers looked to put their latest round of unconventional easing back on track after initial efforts to push long-term interest rates lower misfired. More...

Use of Robots Increasing in Domestic Industry

01. 29. 2018. 15:30

Budapest Business Journal

The number of industrial robots in operation in Hungary saw a 13% increase in 2016 compared to the previous year. Over the period 2011-2016, the growth was even higher at 18%, and the pace is expected to continue, according to the International Federation of Robotics (IFR). More..,

Telenor CEE Sale Edges Closer; Company Investigated in Hungary

01. 29. 2018. 15:24

Broadband TV News

Telenor has announced that it has received “expressions of interest” for its mobile operations in Central and Eastern Europe. At the same time, it has, along with Magyar Telekom, found itself the subject of an investigation in Hungary on suspicion of collusion in connection with a broadband frequency tender. More...

 

Nets Wins Contract for Instant Payments in Hungary

01. 26. 2018. 15:34

FinExtra

Nordic payments processor Nets has won an international tender to provide an instant payments system to Hungarian ACH Giro. Wholly-owned by the Hungarian central bank, Giro has a near monopoly on interbank payments and clearing in the country. The ACH went to tender for the new instant payments framework last year, following a a market-wide consultation conducted between the central bank and payment stakeholders in the spring of 2016. More...

OPINION: Google, Facebook Bad for Innovation, Democracy, says George Soros

01. 26. 2018. 12:00

Financial Express

Calling Internet "monopolies" such as Google and Facebook an obstacle to innovation, billionaire investor George Soros has warned that social media companies can have adverse consequences on the functioning of democracy. More...

Coca-Cola to Build Giant Plant in Dunaharaszti

01. 25. 2018. 17:08

hvg.hu / bbj.hu

Coca-Cola HBC Magyarország is increasing by half the area of its manufacturing base in Dunaharaszti, on the southwestern outskirts of Budapest, creating its largest production facility in Central Europe, according to news portal hvg.hu. More...

Hungary's MOL Launches Car-sharing Service for Budapest

01. 25. 2018. 17:00

Reuters

Hungary’s MOL launched a car-sharing service on Thursday in Budapest as part of the oil and gas company’s efforts to diversify into mobility services. The fleet will initially include 300 Volkswagen Up cars as the company seeks to adapt its traditional fuel retailing operations to meet future demand for electric vehicles, MOL said. More...

The Questions Investors Are Asking After Hungary's Sell-Off

01. 24. 2018. 17:26

Bloomberg / By Marton Eder

The dust is settling on Hungarian fixed-income markets. After a nervous start to the central bank’s unconventional easing last week, the bond and swap markets have pared their worst declines in more than a year. Investors are now guessing what is next in policy makers’ efforts to lower long-term borrowing costs. More...

Continental Launched Latest Development in Hungary

01. 24. 2018. 12:00

HIPA Press

As a result of a comprehensive EUR 20 million development project, ContiTech Magyarország, belonging to the Continental Group, has expanded production in Nyíregyháza. The German automotive giant, one of the top 5 suppliers in the world, has started the manufacture of automotive cooling and heating pipes, installed modern caoutchouc mixture production lines, while, the air bellow manufacturing capacity increased, and the infrastructure expanded with a 2,000 m2 warehouse complex and a 4,500 m2 logistics hall. More...

Hungarian Film “On Body and Soul” Nominated For Oscar

01. 24. 2018. 08:00

We Love Budapest / by Kata Fári

Ildikó Enyedi’s extraordinary “On Body and Soul” was announced today as a nominee in the Best Foreign Language Film category. The announcement was made in a live broadcast from the Samuel Goldwyn Theater at the Academy’s headquarters in Beverley Hills. “On Body and Soul”, a peculiar love story exploring the relationship between men and women, will also be the first ever Hungarian feature on Netflix to be screened next month. More...

General Govʼt Deficit Confirmed at 169% of 2017 Target

01. 23. 2018. 18:25

bbj.hu / MTI

Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 1.974 trillion deficit at the end of December, thus reaching 169.2% of the HUF 1.166 tln full-year target, the Ministry for National Economy confirmed in a second, detailed reading of data on Tuesday, as reported by state news wire MTI. More...

Austria to Sue EU over Allowing Expansion of Hungary Nuclear Plant

01. 22. 2018. 18:39

Reuters

Austria said on Monday it planned to sue the European Commission for allowing Hungary to expand its Paks atomic plant, saying it did not view nuclear energy as the way to combat climate change or as being in the common European interest. More...

Labor Shortage Continues to Push Hungarian Wages up

01. 22. 2018. 18:29

Budapest Business Journal / CSO

The average gross wage in Hungary rose 13% year-on-year to HUF 322,955 in November, the Central Statistical Office (KSH) said on Friday. Net wages grew at the same pace as gross wages, also climbing 13% to HUF 214,764. More...

Israeli co Enlight to Buy PV, Wind in Central Europe

01. 22. 2018. 18:23

Renewables Now

Israeli investment firm Enlight Renewable Energy Ltd (TLV:ENLT) has agreed to purchase the rights to 57 MW of solar projects in Hungary and is also negotiating a 105-MW wind acquisition in Central Europe. More...

Budapest’s Corvinus University Honors Renowned Hungarian Economist János Kornai

01. 19. 2018. 16:48

Hungary Today

Over the course of 2018, Corvinus University is hosting a series of events to honor internationally acclaimed economist János Kornai, who turns 90 on Sunday, January 21. The series started off with a conference, at which Professor Kornai gave a speech, alongside leading economists, who examined the impact his ideas on the eurozone and his analyses comparing the economics of socialism and capitalism. More...

Mooreland Partners Advises Balabit on Sale to Quest Software

01. 19. 2018. 16:39

Nasdaq

Mooreland Partners (www.moorelandpartners.com), the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to Hungary-based Balabit in its sale to leading Texas-based security software vendor One Identity, a Quest Software business. The transaction was publicly announced and closed on January 17, 2018. More...

New Issues, Issuers Key to Stock Exchange Strategy in 2018

01. 18. 2018. 15:25

bbj.hu / MTI

The Budapest Stock Exchange (BÉT) needs new issues and new issuers as it continues to build up Hungaryʼs capital market, the bourseʼs Chairman-CEO Richárd Végh said at a press conference on Thursday, as summarized by state news agency MTI.  More...

German Health Care Company B. Braun Expands in Gyöngyös

01. 18. 2018. 15:13

Hipa.hu

One of the main players in the Hungarian healthcare sector, German-owned B. Braun Medical will expand its capacity with an EUR 100 million investment in Gyöngyös. At the new plant 407 new jobs will be created. More...

Ministry, Central Bank Expect 4% GDP Growth in 2017

01. 17. 2018. 17:56

bbj.hu

Both the Ministry for National Economy and the National Bank of Hungary (MNB) expect GDP growth of around 4% in 2017, according to statements made recently by representatives of the two institutions. The central bank also forecasts growing investments. More...

 

 

Szijjártó Claims a “New Phase” in US-Hungary Relations Has Arrived

01. 17. 2018. 17:50

Hungary Today

Hungarian Foreign Minister Péter Szijjártó, starting an official visit to Washington, DC, has claimed that a new phase in Hungary-US ties has arrived. The minister argued that significant changes were afoot at the State Department. More...

TOURISM: Tourism Guest Nights up More than 8% in November

01. 16. 2018. 18:32

bbj.hu

In November 2017, the number of nights spent by international tourists in commercial accommodation in Hungary rose 8.7%, while nights spent by domestic tourists rose 5.6% compared to a year earlier, according to monthly figures released by the Central Statistical Office (KSH). Total gross revenues of accommodation establishments grew 16% year-on-year. More...

STATISTICAL UPDATES: Consumer Prices; Farm Prices; Construction

01. 15. 2018. 16:36

Central Statistical Office

- Consumer prices were 2.1% higher on average in December 2017 than a year earlier. In 2017 as a whole, consumer prices rose by 2.4% on average compared to the previous year. Details

- Agricultural producer prices were 7.7% higher in November 2017 than in the corresponding period of 2016, which was made up of increases of 8.6% in the price of crop products and 6.4% in the price of live animals and animal products. Details...

- The volume of construction output was 30.7% higher in November 2017 than the low base a year earlier, while output slightly dropped compared to the previous month. Details

TSI: Europe Is Rising in the East

01. 15. 2018. 14:00

OZY / By Dan Peleschuk

...A dozen countries in Central and Eastern Europeare trying to eliminate a key hole in their infrastructure that experts believe has held back their economic development. The Three Seas Initiative (TSI) aims to foster closer regional cooperation in building a network of highways, railways and gas terminals — a new connectivity architecture supporters say will better integrate the region with the rest of Europe. More...

MNB Governor Calls for Competitiveness-Boosting Reforms

01. 12. 2018. 19:18

Budapest Business Journal

National Bank of Hungary (MNB) Governor György Matolcsy called for comprehensive competitiveness-boosting reforms in Hungary, with a further reduction of the personal income tax as a key element, in an interview published in Thursdayʼs issue of weekly Figyelő, summarized by state news agency MTI. More...

Warsaw and Budapest vs Brussels: Who Will Prevail?

01. 12. 2018. 18:51

EURACTIV

The Polish government is still relying on Hungary’s Viktor Orbán to cover their backs. But this particular alliance may not last forever. EURACTIV Czech Republic takes a look at the story ahead of what could be a defining year for how the EU treats its problem kids. More...

Orbán: if EU Doesnʼt Pay, Hungary Will Turn to China

01. 11. 2018. 18:48

bbj.hu / MTI

Central Europe still has substantial handicaps to overcome due to a development gap in infrastructure and it would turn to China if the European Union cannot give financial support, Prime Minister Viktor Orbán told a forum of leading German companies in Berlin on Wednesday, as reported by state news wire MTI. More... - Read also China’s Stealthy Advance in Balkans Should Worry EU on Balkan Insight.

INVESTMENT NEWS: Biomass; Car Battery; Airport Hotel

01. 11. 2018. 18:08

- A subsidiary of Veolia Environnement SA (EPA:VIE) has closed the acquisition of a 98% stake in the operator of a biomass-fueled combined heat and power (CHP) plant in Hungary. More on Renewables Now

- Japanese battery maker GS Yuasa Corp said on Thursday it would set up a factory in Hungary that would assemble automotive lithium ion batteries. More on Reuters

- In less than 18 months, a new on-site airport hotel has opened at Budapest Airport’s Terminal 2. The ibis Styles Budapest Airport Hotel offers 145 rooms, a restaurant, a bar and ample conference facilities, within walking distance of the airport terminals. More on BUD Online

Purchasing Power Data Reveal Regional Differences

01. 10. 2018. 16:39

bbj.hu

Per capita purchasing power in Hungary was HUF 1.2 million on average in 2016, economic research institute GKI said on Wednesday, based on data gathered from the Central Statistical Office (KSH) and National Tax and Customs Administration (NAV). More...

Hungarian and Polish NGOs Urge EU Funds Against Crackdown

01. 10. 2018. 08:00

EUObserver / By

Civil society groups under attack in Hungary and Poland urged the EU on Tuesday (9 January) to set up a fund geared towards NGOs that are protecting European values in member states. NGOs in the two central European countries, where what Hungarian prime minister Viktor Orban once boasted was 'illiberal democracy' has taken a hold, have called for the creation of a so-called "European Values Instrument" that would support civil society groups that are promoting democracy, human rights and rule of law. More...

STATISTICAL UPDATE: External Trade

01. 09. 2018. 17:48

Central Statistical Office

In EUR terms, exports were up by 6.1% and imports by 7.8% in November 2017 compared to the same period of the previous year. Trade surplus decreased by EUR 79 million. Details...

Hungary Delays Int'l Conference as Yiannopoulos Presence Sparks Controversy

01. 09. 2018. 17:42

bne Intellinews

A Visegrad Group conference on the Future of Europe scheduled for January 23-25 in Budapest will be put off until after the Hungarian general election in April after the invitation of British political commentator Milo Yiannopoulos sparked controversy. More...

STATISTICAL UPDATES: Retail; Industrial Output

01. 08. 2018. 16:29

Central Statistical Office

- In November 2017, the volume of sales in retail shops grew by 6.4% compared to the same period last year. In January–November 2017, the volume of sales was 4.7% higher than in the corresponding period of the previous year. Details...

- In November 2017, the volume of industrial output rose by 3.4% year-on-year. Details...

Sample Hungary's Excellent Wines While In Budapest

01. 08. 2018. 16:20

Forbes / Tom Mullen

Hungarian wines have improved in the past decades, and some are now superb. Four fifths of the country's wines are white, and many of the fewer reds are both elegant and bold. You can arrange to visit wineries in the countryside, or sample a range of vintages in a major city, such as Budapest. More...

Budapest Party District to Hold Referendum on Pub Opening Hours

01. 05. 2018. 16:02

Euronews

Budapest party district to hold referendum on pub opening hours. Some residents in the 7th district of Elisabeth Town say the district is attracting the wrong type of tourism. More...

Hungarian AI Car Project Receives Significant Investment

01. 05. 2018. 15:54

Budapest Business Journal

AImotive, a self-driving technology startup headquartered in Budapest, has announced the closing of a USD 38 million/EUR 32 mln Series C funding round, its third injection of investment capital from outside sources. The car testing has already begun in Budapest. More...

AImotive, a self-driving technology startup headquartered in Budapest, has announced the closing of a USD 38 million/EUR 32 mln Series C funding round, its third injection of investment capital from outside sources. The car testing has already begun in Budapest.

STATISTICAL UPDATES: Employment; Gov't Expenditure

01. 04. 2018. 14:58

Central Statistical Office

- In the period of September–November 2017, the employment rate of people aged 15–64 increased to 68.8%. Details - The unemployment rate decreased by 0.7 percentage point to 3.8% in the same period. Details

- The deficit of the general government sector in the 1st–3rd quarters of 2017 was HUF 139.6 billion, 0.5% of GDP according to preliminary data. The balance deteriorated by HUF 301.0 billion or by 1.1 percentage points as a proportion of GDP compared to the same period of 2016. The change in the balance was due to a larger increase in expenditures than in revenues. Details

Turnover on Budapest Stock Exchange Rises Sharply

01. 03. 2018. 18:00

portfolio.hu

Turnover on the Budapest Stock Exchange (BSE) grew in annual terms both in December 2017 and the whole of last year. As regards the local investment service providers, Concorde recorded the largest turnover. More...

Hungary, Poland Demand Bigger Say in EU, Reject its Migration Policy

01. 03. 2018. 17:55

Reuters

The European Union’s migration policy has failed, Hungary’s Prime Minister Viktor Orban said on Wednesday, as he and his Polish counterpart demanded a bigger say in the bloc’s future. More...

New and Higher Child-Care and Tax Benefits from the 1st of January

01. 02. 2018. 21:58

Hungary Today

Increase in child-care benefits, tax benefits, added support for mortgage holders, options forrelief on student loan payments, and new procedural code are among the several legal changes in Hungary from the 1st of January. The government has also introduced the so-called “Umbilical Cord” program, which will support Hungarian babies born abroad. More...

OPINION: Europe Should Support China-CEE Cooperation

01. 02. 2018. 21:31

Center for Strategic and International Studies / By Dr. Chen Xin (Executive Vice President and MD, China-CEE Institute in Budapest)

...The European Union is still building the single market at the core of European integration. Strong transportation infrastructure will promote the flow of people, goods, services, and capital, the famous “four freedoms” of the single market. It will also have spillover effects for social and economic development in the towns through which the roads and trains pass.... Full article

Five Top Seasonal Skating Locations In Budapest

12. 29. 2017. 22:27

XpatLoop

Winter is well and truly here in Hungary, and with this season comes the chance to enjoy an abundance of artificial ice rinks in the capital during the holidays. Some come with stunningly historical backdrops, others are cool and trendy spots to (slip;) slide and glide with friends or family. The best ones also provide a fine selection of snacks and drinks to keep your energy levels high while you dance (fail;) on ice. All these top options provide hire services so you can easily get your skates on, and entrance is free at many places. More...

Budapest Christmas Fairs; a Good Business for Exhibitors

12. 29. 2017. 22:21

bbj.hu

Christmas fairs in Budapest are spectacular and a major tourist attraction in December. The organizers of the Christmas fair in Vörösmarty tér expect 800,000 visitors in this season, of which 70% will be foreign tourists. Online portal index.hu made an analysis of the costs and profits that exhibitors can expect. More...

“We Shall Do Our Utmost To Ensure That Europe Remains European” – Hungarian PM Viktor Orbán Christmas Message In Full

12. 28. 2017. 16:54

Hungary Today

“This year, a historical task has been put before European countries: defending Christian culture”, Hungarian Prime Minister Viktor Orbán wrote in his Christmas message published by right-wing daily Magyar Idők over the holiday weekend. Below we are sharing the full English translation of the original Hungarian text. More...

Clash Between Poland, Hungary and EU Biggest Challenge for 2018: Guardian

12. 28. 2017. 07:00

Polish Radio

The conflict between Brussels and two countries, Poland and Hungary, may be the greatest challenge for the European bloc in the upcoming year, Jon Henley,a journalist with “The Guardian” daily wrote on Wednesday. More...

Parragh: Stronger Chambers – Greater Social Prestige

12. 27. 2017. 14:06

HCCI Press

At a year-end meeting of the leaders if Hungarian regional and bilateral chambers, HCCI President László Parragh spoke about past achievements and future tasks of the Hungarian Chamber of Commerce and Industry. Mr. Parragh underlined that the prestige and weight of the chamber network has considerably increased in 2017. (To continue clock on the title line)

 

Tens Of Thousands Disappear Every Year As Hungary’s Population Decline Continues

12. 22. 2017. 18:51

Hungary Today

Hungary’s population decline was 5.1 percent lower in October this year than a year before but it was 22 percent higher in the first ten months of 2017 than in the same period of 2016, the Central Statistical Office reported on Thursday. More...

PM Orban - Hungary Will Block Any Punitive EU Action on Poland

12. 22. 2017. 18:43

Reuters

Hungarian Prime Minister Viktor Orban on Friday said that Hungary sees a strong Poland as a vital component of a central European caucus within the European Union, and so will block any action to suspend Poland’s voting rights in the EU. More

MNB Sets Mortgage Bond Purchase Scheme Cap

12. 21. 2017. 16:46

bbj.hu / MTI

The National Bank of Hungary (MNB) will cap its purchases of mortgage bonds at 70% in a scheme to be introduced early next year, the central bank said on Thursday, as reported by state news agency MTI. The MNB said it will start buying mortgage bonds on the secondary market in January, and on the primary market in February. More...

SCIENCE: Global Warming Could Prompt Surge In Migration to the EU, Study Warns

12. 21. 2017. 00:00

LEASURE: Ice Skating on Hotel Rooftop in Budapest

12. 20. 2017. 17:37

Travel & Leisure / Andrea Romano

Ice skating is a fun winter activity on its own, and it’s even better with a gorgeous view. On top of the Hotel President in Budapest, Hungary, visitors can find one of the best views in Europe while also taking a skate around a custom-built ice rink on the terrace. More...

STATISTICAL UPDATE: Earnings

12. 20. 2017. 17:29

Central Statistical Office

In October 2017, average gross earnings amounted to HUF 295,800, 12.8% higher than a year earlier. ... In the first ten months of the year, both gross and net earnings grew to the same extent, by 12.8% compared to the same period of the previous year. Details

MNB Expects Faster Growth, Level Inflation in 2018

12. 19. 2017. 16:18

portfolio.hu

The National Bank of Hungary (MNB) improved its GDP forecast in its latest inflation report released today, while inflation is expected to be lower than projected this year. The central bank now sees 3.9% GDP growth in 2017 and expects the momentum to carry through to next year. Growth is only forecast to slow down in 2019, when the GDP will grow an estimated 3.2%. More... - MNB Press Release

Sleepless Locals Tire of Budapest Party Paradise

12. 19. 2017. 14:00

AFP

Bigger than Prague and some say more beautiful, Budapest's belle epoque boulevards, cafes and locals playing chess in steaming outdoor thermal spas have long attracted tourists. But for some locals the city's tourism sector is booming too literally. More...

STATISTICAL UPDATE: Construction; Retail

12. 18. 2017. 18:28

Central Statistical Office

- The volume of construction output was 38.1% higher in October 2017 than the low base a year earlier. Based on seasonally and working day adjusted indices, construction output grew by 6.0% in October compared to the previous month. Details...

- In October 2017, the volume of sales in retail shops grew by 6.3% compared to the same period last year. In January–October 2017, the volume of sales was 4.5% higher than in the corresponding period of the previous year. Details...

ENERGY: Eni Sells its Gas Distribution Operations in Hungary

12. 18. 2017. 12:00

WebWire

Eni and MET Holding AG signed an agreement to sell 98.99% of Tigaz Zrt to MET, including Eni’s gas distribution operations in Hungary through its participations in Tigaz DSO and Turulgaz. More...

Another Week, Another EV Battery Factory Announced In Hungary

12. 15. 2017. 18:41

Seeking Alpha / Zoltán Bán

Japanese company GS Yuasa Corp just announced it will build an EV battery plant in Hungary.  It is the third company to decide on such an investment in Hungary. A number of other investments into EV capacity in Hungary and other East European countries suggests European car makers are gearing up to produce high volumes at lower cost. More...

Tesla Wooed by Hungary With Tax Breaks, Report Says

12. 15. 2017. 18:37

Automotive News Europe / - Reuters

Hungary's foreign minister has met Tesla executives during a tour of Silicon Valley and explained to them the tax breaks and other incentives offered to automakers in the eastern European country, national news agency MTI reported. More...

MACDON to be Acquired by Hungarian Equipment Manufacturer Linamar

12. 15. 2017. 08:00

Linamar Press Release via Agrimarketing.com

Linamar Corp. (TSX:LNR) today announced that it has entered into a definitive agreement to acquire 100% of the outstanding equity interests of MacDon and its Group of Companies for an aggregate purchase price of C$1,200 Million, less the assumption of small transaction related expenses, and subject to certain customary adjustments.More...

TRAVEL: Five Things to Do in Budapest for an Enchanted Winter City Adventure

12. 14. 2017. 16:37

Argophilia /

A city with pulsating nightlife, charming parks, stunning architectural landmarks, and museums that will inspire, surprise and even provoke, Budapest is a year-round destination. Somehow, Budapest managed to rank among Condé Nast Traveler’s Paul Rubio’s The Best Places to Go This Winter and it’s the only European destination to make the list. More...

Pannonhalmaʼs Benedictines Enter Hotel Business

12. 14. 2017. 16:29

bbj.hu

A 300-year-old building complex that is part of the Benedictine Archabbey of Pannonhalma, a UNESCO World Heritage Site in northwest Hungary, is to be expanded into a four-star hotel through an investment of HUF 5 billion. The government will support the project with a HUF 2.95 bln grant. More...

Family Donates Szapáry Bequests to National Museum

12. 13. 2017. 15:59

source: MTI

Former Ambassador to Washington and National Bank Vice President György Szapáry and Benedek Varga National Museum Director (left) at a press viewing of an invaluable collection of paintings, photographs and historic documents donated to the National Museum by members of the old noble Szapáry family. (MTI Photo Tibor Illyés)

One Planet Summit: Presidents Of Hungary, France Discuss Paris Climate Accord

12. 13. 2017. 15:46

Hungary Today

Hungarian President János Áder held consultations with French counterpart Emmanuel Macron on implementation of the Paris climate accord on Tuesday, before the opening of the One Planet Summit. More...

Five things you (probably) didn’t know about the EU’s “Lagging regions”

12. 12. 2017. 19:52

The World Bank

Economic growth does not evenly spread within countries: some regions benefit, while other regions lag behind. This is as true in the European Union (EU) as in most other parts of the world, despite significant convergence efforts in the EU. The leading regions in Europe have, on average, 2.3 times the GDP per capita of their poorest counterparts. More...

Hungarian Startup receives Czech Investment

12. 12. 2017. 08:00

Budapest Business Journal

Petr Kellner, the wealthiest businessman in the Czech Republic, will invest EUR 6 million in Barion Payment Zrt., a Hungarian online and mobile payment startup. The management of Barion will remain in place, according to a report published by online news portal index.hu. More...

Agriculture Delivers ‘Average’ Performance in 2017

12. 11. 2017. 16:35

Budapest Business Journal

The volume of agricultural output decreased by 6.1% in 2017, with crop production down 8.6% and livestock production 3.2% lower than in 2016, according to a first estimate of the performance of Hungaryʼs agricultural sector this year, released by the Central Statistical Office (KSH) on Monday. More... Full statistical report

Budapest to Host International Cyber Security Contest in 2018

12. 11. 2017. 16:27

Hungary Today

Budapest will host an international cyber security competition on 24-25 January 2018, organisers said. The event is based on the earlier National Cyber Competition, with participants from all around Europe and expanded with a rebranded SecOps Europe IT Security Conference. More...

KAJAHU is Food Together

12. 08. 2017. 16:43

Budapest Business Jurnal

Cruising in Budapest downtown, hungry city dwellers may stop by and discover a restaurant that looks like an ordinary one from outside, but the moment you enter you find there is more to it than at first meets the eye. More...

STATISTICAL UPDATE: External Trade (October); Prices

12. 08. 2017. 16:32

Central Statistical Office

- In EUR terms, exports were up by 11.8% and imports by 17.0% in October 2017 compared to the same period of the previous year. Trade surplus decreased by EUR 275 million. Details...

- Consumer prices were 2.5% higher on average in November 2017 than it was this time last year. The highest price increases over the past year were measured for alcoholic beverages and tobacco as well as food. Details

Deficit Above 140% of Full-year Target

12. 07. 2017. 16:53

BBJ / MTI

Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 1,639.0 billion deficit at the end of November, lifted by advance payments on European Union funding, the Ministry for National Economy said in a preliminary release of data on Thursday, as summarized by state news wire MTI. More...

EU Steps up Pressure on Hungary over Soros School, NGO Laws, Migration

12. 07. 2017. 16:48

Reuters

The European Union’s executive on Thursday stepped up its pressure on the nationalist government of Prime Minister Viktor Orban in Hungary over its treatment of immigrants, non-governmental groups (NGOs) and a liberal school. More...

STATISTICAL UPDATES: Industrial Output; Retails

12. 06. 2017. 16:11

Central Statistical Office

- In October 2017, the volume of industrial output rose by 7.6% year-on-year. Details...

- In October 2017, the volume of sales in retail shops, according to both raw and calendar-adjusted data, grew by 6.3% compared to the same period last year.  In January–October 2017, the volume of sales – was 4.5% higher than in the previous year. Details

Hungary’s MOL Group Mulls UK North Sea Exit, Report Says

12. 06. 2017. 16:07

Energy Voice

Hungarian oil firm MOL Group is weighing up the sale of its UK North Sea business, just four years after its arrival in the basin, a news report said. More...

Capital Buffer Requirement for Hungarian Banks will Increase as Planned

12. 05. 2017. 15:32

Portfolio.hu

Conforming to the previous decision of the MNB’s Financial Stability Board, the capital requirement for systemically important institutions has become effective from 2017 and will gradually increase over a four-year period, the National Bank of Hungary (MNB) announced. According to the central bank’s annual review, it is not warranted to change the original schedule; therefore the capital buffer requirement will increase in 2018 as planned. With the gradual approach the MNB in addition to maintaining financial stability supports lending as well. More...

Hungarian Q3 GDP Growth Revised up to 3.9%

12. 05. 2017. 15:08

Budapest Business Journal

Hungaryʼs volume of gross domestic product rose an unadjusted 3.9%, or a seasonally and calendar-adjusted and reconciled 4.1%, in the third quarter of 2017 from a year earlier, according to a second reading of data published by the Central Statistical Office (KSH) on Tuesday. The primary contributor to growth, as before, was market-based services. More...

Hungary Eager to Buy More Oil from Iran

12. 04. 2017. 15:12

Mehr News Agency

After a meeting with Iranian Oil Minister Bijan Namdar Zanganeh, Hungary’s Minister for National Economy Mihaly Varga declared that his country is willing to increase its oil purchases from Iran in the future. More...  More on Iran-Hungary relations: Hungarian tourists enthusiatic to visit Iran: Varga; Tehran, Budapest to form joint chamber of commerce (photo: Minister Varga after signing a co-operation agreement with Iran's minister of Health and Medical Education Hassan Qazizadeh Hashemi)

 

SEC Signs Energy Research Tie-up with Hungary Group

12. 04. 2017. 15:06

Trade Arabia

Saudi Electricity Company (SEC) has signed an agreement with MVM Hungarian Electricity Groups develop researches in the field of electric energy generation, traditional and renewable energy, training and developing projects. More...

STATISTICAL UPDATE: External Trade

12. 01. 2017. 15:35

Central Statistical Office

In September 2017, the export volume increased by 3.3%, the import volume by 4.6%, and the surplus decreased by EUR 28 million compared to the same month of the previous year. On the basis of calendar adjusted data, the export and import volumes increased by 5.6% and 7.1%, respectively. In the first nine months of 2017, the external trade surplus was EUR 6.5 billion. More...

Central Bank: Profitability Of Hungary’s Banking Sector Reaches Pre-Crisis Levels

12. 01. 2017. 15:30

Hungary Today

Hungarian banks profitability remained extremely high in the first half of 2017, although this is still due mainly to unsustainable, one-off items, the National Bank of Hungary (MNB) said in its biannual Financial Stability Report. More...

Spar Hungary To Open New Food Preparation Plant

11. 30. 2017. 16:36

European Supermarket Magazine

Spar Hungary has announced the construction of a new food preparation plant in the town of Üllő, in central Hungary. The the construction of the new facility is on the site of an existing Spar logistics centre. The company will invest over HUF 1.2 billion (€3.8 million), which includes HUF 250 million (€800,000) for technology and equipment, according to the retailer. More...

S. Korea's SK Innovation Will Build EV Battery Plant in Hungary

11. 30. 2017. 16:31

Automotive News Europe /   / Reuters

South Korea's SK Innovation will invest 840.2 billion won ($777 million) to build an electric vehicle battery plant in Hungary to meet demand from automakers in Europe. SK Innovation, which owns South Korea's top refiner SK Energy, plans to break ground in February 2018 and start production from early 2020, the company said in a statement. More...

China’s STO Express to Launch Budapest Freighter Flights

11. 30. 2017. 16:27

AircargoNews

Chinese logistics company STO Express is to launch scheduled B747 freighter flights to Budapest, following the signing of a cooperation agreement with the airport and Turkish and European third party logistics specialist, Ekol. STO has named the Hungarian gateway as its preferred European hub to deliver e-commerce products arriving from China, in an agreement signed at the annual conference of the “16+1 cooperation” initiative, comprising China and 16 countries from the Central and Eastern European (CEE) region. More...

Spotlight: Chinese Premier's Hungary Visit Further Enhances Bilateral Ties, China-CEE Cooperation

11. 29. 2017. 17:00

XinhuaNet

Chinese Premier Li Keqiangon Wednesday wrapped up his four-day visit to Hungary with enhanced bilateral ties and China-Central and Eastern Europe (CEE) cooperation. During his talks with Hungarian Prime Minister Viktor Orban on Tuesday, Li said China is committed to further advancing bilateral cooperation so as to lift bilateral relationship to a new high. More...

Chinese Tech Giant HUAWEI Presents New Smart City Concept In Budapest

11. 29. 2017. 16:57

Hungary Today

Huawei has introduced its new smart city concept, which uses leading ICT technologies, on the Huawei Smart City Summit 2017 in Budapest. More...

European Figures Tell Brussels to Cut Funding for Hungary

11. 29. 2017. 12:00

Budapest Business Journal

Four senior European figures have called on European Commission President Jean-Claude Juncker to cut off funding to Hungary until “basic democratic freedoms are reinstated,” in a letter exclusively obtained by Euronews, the multilingual news media service headquartered in Lyon, France. More...

Investments in Hungary Take Off in the Third Quarter

11. 28. 2017. 18:49

portfolio.hu

The volume of developments in the Hungarian economy rose 18.3% year on year in the third quarter of 2017, the Central Statistical Office (KSH) reported on Tuesday. Although the growth rate is below the H1 print, it remains high compared to the low base. More...

OECD Raises Hungary GDP Growth Forecasts

11. 28. 2017. 17:16

bbj.hu / MTI

The Organisation for Economic Co-operation and Development (OECD) has raised its GDP growth forecasts for Hungary in its biannual Economic Outlook released on Tuesday, according to a summary by Hungarian news agency MTI. More... - OECD Summary and Full Report

China Hits Roadblocks in Central Europe

11. 27. 2017. 16:43

Politico / By

China’s seduce-and-divide strategy in Central Europe is getting a reality check. For years, Beijing has promoted heavy investments and a particular diplomatic format — called 16+1 — to build its influence with a cross-section of 16 Central and Eastern European countries, some that belong to the EU or NATO, some to neither. Chinese Premier Li Keqiang and Hungary’s Prime Minister Viktor Orbán on Monday open the sixth China-Central and Eastern Europe summit in Budapest. (Photo by MTI: The Chinese and Hungarian PM at their joint press conference after the summit) More...  Read also: Chinese premier announces establishment of China-CEEC Inter-Bank Association

Despite a Shortage of Workers, Hungarian Employers Still Unwilling to Embrace Remote Jobs

11. 27. 2017. 12:00

Hungary Today

Writing for Hungarian daily Magyar Nemzet, Gábor Sarnyai reports that, based on questions he posed to some of the country’s largest employment agencies, domestic companies remain wary of embracing the concept of employees working from home, despite the advantages such a practice may bring. More...

Quintessentially Launches in Budapest

11. 24. 2017. 18:01

Budapest Business Journal

One of the world’s leading luxury lifestyle management companies, Quintessentially, has expanded to Hungary.  Founded in London in 2000, it has since opened 65 other offices abroad, and describes itself as the “global expert in all things luxury”. More...

Interview: Chinese-Operated Trade Hub in Hungary Facilitates Cooperation with European Businesses

11. 24. 2017. 17:54

Xinhuanet

A trade hub established by a Chinese enterprise in Hungary has been acting as a "matchmaker" between Chinese and European businesses, and is poised to further facilitate bilateral trade cooperation as the Belt and Road Initiative continues to unfold, the company's CEO has said. More... Read also: Hungary joins China-CEE Fund

Number of Restaurants in Budapest Decreases, While Those that Remain Perform Well

11. 23. 2017. 17:51

Hungary Today

Many entrepreneurs are attracted to the idea of opening a restaurant in Budapest, but many of them end up closing their doors quickly, according to data service company Opten. More

CEE MARKETS: Debt Sales Draw Robust Demand, Hungarian Yields Set Record Lows

11. 23. 2017. 17:44

Reuters / By Sándor Pető

Hungarian long-term government bonds traded at record low yields on Thursday after their first auction since the central bank announced measures to push yields lower. Debt auctions in Prague and Warsaw also drew robust demand. More...

MNB Reaches for Unconventional Monetary Policy Tools

11. 22. 2017. 16:29

bbj.hu

The Monetary Council of the National Bank of Hungary (MNB) has decided to introduce two unconventional monetary policy tools from January 2018, the council said in a statement on the central bankʼs website after yesterdayʼs rate-setting meeting. As expected, the council also decided to keep the key rate on hold at 0.90%. More...

Commission Told Hungary How to Win Approval for Russia-backed Nuclear Plant

11. 22. 2017. 16:24

EurActive / By Jorge Valero

The European Commission assisted Hungary in finding the right loophole in the EU public procurement rules to get the green-light for the construction of the Russian-backed Paks II nuclear power plant, according to internal documents seen by EURACTIV.com. More...

Hungarian Scientists Identify New Gene Linked to Rare Neurological Disease

11. 21. 2017. 21:21

Hungary Today

Hungarian scientists have identified a new gene linked to a rare neurological condition, muscular dystrophy,  after more than two years of research. Mária Judit Molnár, head of Genomic Medicine and Rare Disorders at Semmelweis University, told public news channel M1 that the patient linked to the research suffered from muscular dystrophy and balance disorder and her children showed symptoms of autism and schizophrenia. .More...

Hungary Rewards Highly Cited Scientists With Bonus Grants

11. 21. 2017. 21:08

Nature / Alison Abbott

Some top researchers prosper in Hungary as country tries to improve its international standing in science. Earlier this year, cell biologist Attila Reményi was facing his toughest decision since returning to his native Hungary a decade ago. With his generous start-up funding about to run out, should he downsize his lab? More....

Hungarian PMO Chief on “Soros Plan”, EU Conflicts, and the Economy

11. 20. 2017. 16:04

Hungary Today

At his weekly press briefing last Thursday, János Lázár, head of the Prime Minister’s Office, discussed various recent political issues related to Hungary.  These included the state of the Hungarian economy, the government’s various disputes with the European Union, as well as Poland’s conflicts with the bloc, and the ongoing ‘National Consultation’ over the so-called “Soros Plan.” Details Read also from Reuters:
Soros says Hungarian government lying in attacks against him

OPINION: The Real Tax Scandal Is Unfolding in Europe

11. 20. 2017. 15:58

Süddeutsche Zeitung / By Ulrich Schäfer

The Paradise Papers show how EU member states use fiscal trickery to deny their neighbors much-needed tax revenues. This is at least as damaging to EU cohesion as the nationalism and lack of solidarity displayed when it comes to redistributing refugees. More...

The Hungarian Model Works

11. 17. 2017. 18:11

Prime Minister's Press Office

“The Hungarian model works and we Hungarians have no intention of replacing it”, Prime Minister Viktor Orbán said at the EU Social Summit on Friday in Gothenburg. More...

Indiaʼs SMG Opens Car Bumper Plant

11. 17. 2017. 18:04

bbj.hu / MTI

Indian automotive industry supplier Samvardhana Motherson Group (SMG) inaugurated a bumper plant in Kecskemét, central Hungary, on Thursday, Hungarian news agency MTI reported. It will supply German car maker Daimlerʼs plant in the city. More...

Hungarian Minister Highlights Opportunities for Cooperation with Cuba

11. 16. 2017. 16:00

Prensa Latina

Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto asserted that modernization of economy in Cuba opens a great spectrum of opportunities in several areas for the companies in his country. In statements to the Hungarian news agency MTI, published by national media outlets, he remarked that participating in that process offers many advantages, especially because, unlike the United States, the European Union (EU) does not maintain a regime of sanctions against Cuba. More...

TRAVEL: Six of the Best: Budapest Markets

11. 16. 2017. 12:00

Traveller

Drenched in culture, Budapest is a place with a keen sense of the exotic, reflecting Hungary's Magyar distinctiveness within Europe. This unique soul reveals itself in the dynamic parade of life that revolves around an important part of Budapest life – its markets. More...

Preliminary MNB Data Indicate Q3 Drop in External Financing Capacity

11. 15. 2017. 16:58

bbj.hu / MTI / MNB

Hungaryʼs net external financing capacity slightly exceeded EUR 1.4 billion in the third quarter of 2017, dropping from an all-time quarterly peak of EUR 3.1 bln in Q2 and from a year earlier, state news wire MTI calculated from monthly preliminary balance of payment data published Tuesday by the National Bank of Hungary (MNB). More...

 

Spar Hungary Launches Health App

11. 15. 2017. 08:00

European Supermarket Magazine

Spar Hungary has launched a free app aimed at consumers looking to improve their health and wellbeing. The ’30 Napos Életmód Program’ (30-day lifestyle change) mobile app is part of the retailer's 'Lifestyle Change' programme. It gives users access to dietary plans developed by nutritional experts, exercise training programmes, and other useful tips to help them reach their goals, the retailer says. More...

 

STATISTICAL UPDATE: Economic Performance Grows by 3.6%

11. 14. 2017. 16:01

Central Statistical Office

The gross domestic product of Hungary was up by 3.6% according to raw data and by 3.8% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2017 compared to the corresponding period of the previous year. The main contributors to the growth were market-based services. The volume of GDP rose by 3.7% in the first three quarters of 2017 compared to a year earlier. Details - Read also Minister Varga's comments in bbj.hu

Nestlé’s Latest Purina Expansion Completed

11. 14. 2017. 15:48

HIPA Press

In the past seven years, Nestlé has invested EUR 140 million in total in developments in Bük. As a result, the local plant of Nestlé Purina has become one of the biggest pet food factories in Europe. More than 90 per cent of its output is exported. The number of local employees reaches 900. The latest, 5,000-square metre manufacturing hall building was inaugurated by Minister for National Economy Varga Mihály. More...

Croque Bourgogne Lays Cornerstone of Escargot Plant

11. 13. 2017. 19:51

bbj.hu / MTI

Francesʼs Croque Bourgogne-IMOFI-Bourgogne Gastronomie group laid the cornerstone of a HUF 6.5 billion escargot processing and frozen pasta products plant in Kisvárda, northeast Hungary, on Friday, state news agency MTI reported. More...

HBO Launches an Over-the-Top Streaming Service in Central Europe

11. 13. 2017. 19:43

TechCrunch

HBO is launching an over-the-top subscription streaming service in parts of Central Europe, parent company Time Warner announced today. The move will allow viewers in Hungary, Romania, the Czech Republic and Slovakia to stream HBO programming – including its original series, documentaries, movies and more – alongside HBO Europe’s local content. More...

U.S. Launches Media Fund for Hungary to Aid Press Freedom

11. 13. 2017. 19:29

Reuters

The United States said on Monday it would fund rural media outlets in Hungary to help train and equip journalists in defense of an independent media it sees subject to growing pressure and intimidation. More...

Opel Promises No Closures or Layoffs

11. 10. 2017. 18:49

bbj.hu / MTI

A plan unveiled on Thursday by German automotive manufacturer Opel to harness synergies with its new owner, Franceʼs PSA Group, will not involve plant closures or layoffs, Opel said in a statement cited by Hungarian news agency MTI. More...

How the Shop of Possibilities Helped Sell Budapest – and Attract Talent

11. 10. 2017. 18:39

Little Black Book / Laura Swinton

When POSSIBLE CEE were looking to recruit international talent to their Budapest office, they figured that they might have to try something a bit more creative than the usual LinkedIn spree if they were to reach a wider pool of people. They knew that Budapest might not be top of mind for people looking for their next career move – but that the beautiful city has lots to inspire inquiring minds. (Photo: Giovanni Pintaud of POSSIBLE Budapest)  More...

STATISTICAL UPDATE: Prices

11. 09. 2017. 17:42

Central Statistical Office

Consumer prices were 2.2% higher on average in October 2017 than this time last year. The highest price increases over the past year were measured for alcoholic beverages and tobacco as well as food. More...

STATISTICAL UPDATES: Retail; External Trade; Industrial Output

11. 08. 2017. 16:00

Central Statistical Office

- In September 2017, the volume of sales in retail shops increased by 5.4% according to raw data and by 6.0% adjusted for calendar effects compared to the same period of the previous year. ...In January–September 2017, the volume of sales – also according to calendar adjusted data – was 4.3% higher than in the first nine months of 2016. Details...

- In EUR terms, exports were up by 5.5% and imports by 6.7% in September 2017 compared to the same period of the previous year. Trade surplus decreased by EUR 36 million. Details

- In September 2017, the volume of industrial output rose by 5.4% year-on-year. Details...

Digestifs Lead Hungarian Spirits Preferences

11. 08. 2017. 14:00

bbj.hu

Hungarians spend more than HUF 80 billion per year on spirits. However, despite being the national drink, pálinka does not rank highest among Hungarian consumersʼ preferences, research by Nielsen shows. More...

EBRD Projects Brighter Future for Hungary

11. 07. 2017. 12:00

portfolio.hu

The European Bank for Reconstruction and Development (EBRD) has revised up sharply its 2017 economic growth forecasts, with higher export levels, a revival in investment and firmer commodity prices supporting a broad-based upswing. The near-term economic outlook has improved in Hungary on the back of cuts in the rates of corporate income tax and social security contributions as well as increases in minimum wages for skilled and unskilled workers, the bank added. More...

DHL Express Inaugurates New Center in Budapest

11. 07. 2017. 10:00

bbj.hu

International express mail service provider DHL Express has opened a new center in Budapest, according to a press release sent to the Budapest Business Journal. The company joins two other DHL business units, DHL Global Forwarding and DHL Freight, at the Budapest Airport Business Park. More...

OPINION: Why Europe's Newest Pipeline Won't Work Without Russian Natural Gas

11. 06. 2017. 16:48

Sputnik

Slovakia and Hungary have signed a Memorandum of Understanding on building the Eastring pipeline. Speaking to Sputnik, Sergey Pravosudov, head of the Moscow-based Institute of National Energy, remained cautiously optimistic about the project, which Western countries alleged may help contain "Moscow's gas blackmail." More...

Royal FrieslandCampina Opens Financial SSC in Budapest

11. 06. 2017. 16:38

bbj.hu

Dutch dairy products company Royal FrieslandCampina has opened a new regional financial shared services center (SSC) at the CityZen Office Building on Váci út in Budapest. The company plans to expand the office in the near future, according to a press release sent to the Budapest Business Journal. More...

STATISTICAL UPDATE: Improving Sentiment in Construction

11. 03. 2017. 16:41

Central Statistical Office

In the first three quarters of 2017, 7,981 new dwellings were built, 52% more than a year earlier. The number of dwellings to be built based on issued dwelling construction permits and simple declarations grew by 33% to 28,411 compared to the first three quarters of 2016. More...

Kall Ingredients Opens HUF 45 bln Isoglucose Plant

11. 03. 2017. 16:31

bbj.hu

Hungarian-owned food industry company Kall Ingredients inaugurated a HUF 45 billion isoglucose plant in Tiszapüspöki, east-central Hungary, on Monday. Government website kormany.hu claimed the project is the largest food industry investment of its kind since the fall of communism. More...

LOGISTICS: New Rail Service from Budapest to Changsha

11. 02. 2017. 13:18

Int'l Transport Journal

In a further move to expand eastbound rail routes from Europe, the Russian railfreight operator Far East Landbridge (FELB), a subsidiary of RZD Logistics, has created a weekly service from Hungary to China. The high speed container train leaves the Budapest terminal on Mondays, and arrives at the Xianing railway terminal in Changsha (China) some 20 – 22 days later. More...

STATISTICAL UPDATE: External Trade

11. 02. 2017. 13:14

Central Statistical Office

In August 2017, the export volume increased by 7.3%, the import volume by 9.5%, and the surplus decreased by EUR 101 million compared to the same month of the previous year. In the first eight months of 2017, the external trade surplus was EUR 5.6 billion. Details...

Cushman & Wakefield to Open New Centre in Budapest

11. 02. 2017. 12:00

HIPA Press

The region's leading real estate brokerage company, Cushman & Wakefield, will establish a Portfolio Services Centre in Budapest. Primarily young people with higher education degrees and proficiency in foreign languages are invited to the 250 new jobs to handle regional real estate portfolios of major clients directly from Budapest. Details...

STATISTICAL UPDATE: Industrial Producer Prices

10. 31. 2017. 17:25

Central Statistical Office

Industrial producer prices as a whole were 4.1% higher in September 2017 than in the same period of the previous year. Domestic output prices increased by 4.8% on average. Details

German Firms in Hungary Increasingly Optimistic

10. 31. 2017. 17:20

bbj.hu

German companies operating in Hungary continue to feel satisfied and optimistic about their business, a recent survey by the German-Hungarian Chamber of Industry and Commerce (DUIHK) shows. In almost all answers, managers were even more optimistic than the already very good results of the chamberʼs survey published in April. More...

“Lex CEU”: China and Hungary Sign Agreement to Keep Chinese Medical University in Budapest

10. 31. 2017. 17:10

Hungary Today

Yesterday, the Chinese and Hungarian governments signed an interstate agreement to ensure the continued operations of the Heilongjiang University of Chinese Medicine in Budapest under Hungary’s amended higher education law, the controversial “Lex CEU.”  More...

GKI Sees Little Change in Economy in 2018

10. 30. 2017. 14:26

bbj.hu

Trends in the Hungarian economy in the first half of the year have continued in the past few months, and no substantial change can be expected until mid-2018, says a study by GKI Economic Research Co. It adds that the fastest-growing sector in the Hungarian economy will be construction in both 2017 and 2018. More...

Hungarian Spy Agencies to Probe ‘Soros Empire’

10. 30. 2017. 14:20

New Europe / By Beata Stur

Hungary’s Prime Minister Viktor Orban is continuing his controversial crackdown against billionaire philanthropist George Soros. The PM has called on his country’s spy agencies to investigate the “Soros empire” of non-governmental organisations (NGOs) that criticise the government’s policies. More...

 

 

Competitiveness Still a Major Problem for Hungarian SMEs

10. 27. 2017. 16:24

bbj.hu

Hungary continues to lag behind the other Visegrád countries (Czech Republic, Poland, and Slovakia) in SME per capita labour productivity, the National Bank of Hungary (MNB) said in the first publication of its Competitiveness Report on Friday. More...

OPINION: Eastern Europe’s Yawning Gap

10. 27. 2017. 16:16

Carnegie Europe / Judy Dempsey

NATO and the EU are failing to address the fundamental weaknesses of their policies toward Eastern Europe.... It is the the lack of security that prevents the countries of the Lands Between from completing their post-Soviet transformation. The EU and NATO have yet to grasp the role they can play in completing this transformation. Full article

EV Charging Stations Continue to Proliferate

10. 26. 2017. 15:03

bbj.hu

Charging stations for electric vehicles are rapidly spreading across Hungary. Prices of electric vehicles are still high, but are expected to start dropping in the near future, according to a report by economic daily Világgazdaság. More...

EU Commission Clears Hungary's Investment Aid for MOL Plant

10. 25. 2017. 16:55

Reuters

The European Commission on Wednesday cleared 131 million euros ($154.12 million) of investment aid Hungary granted to oil and gas company MOL for expanding a plant in the North of the country. More...

Hungary's Central Bank Hints at More Easing to Come

10. 25. 2017. 16:51

BNE Intellinews

The Monetary Council of the Hungarian central bank, the Magyar Nemzeti Bank (MNB), kept its key interest rate on hold at 0.9% and the interest rate corridor unchanged at its meeting on October 24. That leaves the door open for further monetary easing. It also left the overnight and one-week collateralised loan rates at 0.9% and the overnight deposit rate at -0.15%, moves that were broadly in line with expectations. More...

Hungarian PM Orbán Draws Parallel Between 1956 And Today’s Politics

10. 24. 2017. 13:43

Hungary Today

“If freedom and national independence are lost, then we will be, too,” Hungarian Prime Minister Viktor Orbán said at a state commemoration of Hungary’s anti-Soviet uprising of 1956 in front of Budapest’s House of Terror Museum. More... - Also from Hungary Today: Hungarian Opposition Leaders Strongly Slam Orbán Government On 1956 National Holiday

Hungarians Among Stevie Awards Laureates

10. 24. 2017. 13:37

Budapest Business Journal

More than 130 representatives of companies and organizations around the world participated on Sunday in the 14th edition of the Annual International Business Awards, known as "the International Stevies." Hungarian companies were among the winners. More...

Becton Dickinson Inaugurates HUF 6 bln Plant

10. 20. 2017. 16:04

bbj.hu

U.S. medical technology company Becton Dickinson inaugurated a HUF 6 billion plant in the industrial park of Tatabánya, west of the capital, on Thursday, state news wire MTI reported. More...

Massive Job Cuts Planned by Siemens May Benefit Hungary

10. 20. 2017. 15:28

portfolio.hu

Siemens AG is starting what could be its largest round of job cuts in at least two years and may close several sites as part of a reorganization plan, people familiar with the matter said. The downsizing will have a huge impact on the business in which the foundation stone of a new plant was laid in Hungary in June. According to German press, the focus of the layoffs will be Germany. More...

Europe’s ‘Unicorns’ Awarded Thousands of Euros to Boost Innovation

10. 19. 2017. 19:19

EurActive / By Paola Tamma

Europe’s most innovative start-ups include a belt that tells you where to go, lego-like modular solar panels and smart chemicals that give wood a second life. But ‘unicorn’ companies are a rare species in Europe: EURACTIV went to Budapest to learn what the EU does to breed more of them. More...

Ericsson and Magyar Telekom demonstrate First 5G Link in Hungary

10. 19. 2017. 19:00

WebWire

Ericsson and Magyar Telekom are preparing for a 5G future with a joint demonstration of 5G New Radio. The first implementation of its kind in Hungary achieved download speeds of 22 Gbps. More...

Hungarian Bravado in Savings: Not Toeing the CEE Line

10. 18. 2017. 16:17

portfolio.hu

In the Central and Eastern European region, Hungarians are the least satisfied with the amount of their savings and they are the most helpless as well: Hungarians have rearranged their savings the least as a low interest environment prevailed. More...

Worldʼs Largest Rail Brake Factory Inaugurated in Budapest

10. 18. 2017. 16:14

bbj.hu

German-owned brake maker Knorr-Bremse Rail Systems Budapest inaugurated a HUF 5.28 billion expansion at its base in Budapest on Tuesday, state news wire MTI reported. More...

Construction of Bridge Connecting Slovakia and Hungary Launched

10. 18. 2017. 15:59

The Slovak Spectator

On October 17, Slovak Prime Minister Robert Fico and his Hungarian counterpart Viktor Orbán ceremonially launched the construction of a cross-border bridge between Slovakia and Hungary over the Danube River, set to link the towns of Komárom on the Hungarian side and Komárno (in the Nitra Region, in the southwestern part of the country) in Slovakia. More...

STATISTICAL UPDATE: Construction

10. 17. 2017. 18:33

Central Statistical Office

The volume of construction output was 36.8% higher in August 2017 than the low base a year earlier. Output increased in both the construction of buildings and civil engineering works. Details...

Hungary Eases Pressure on International Universities in Soros Row

10. 17. 2017. 18:27

Reuters

Hungary has extended a deadline for a U.S.-accredited Budapest university founded by George Soros, philanthropist financier and prominent critic of Prime Minister Viktor Orban’s government, to comply with a new education law or face closure. More...

NGO Suing Hungarian Gov’t for Libel over Controversial ‘Survey’ on the “Soros Plan”

10. 17. 2017. 18:20

Hungary Today

The Hungarian Helsinki Committee, an NGO watchdog, is suing the government for libel and calling for the rollback of the  national consultation survey on the “Soros Plan.” The ‘national consultation’ itself, which is being promoted through a widespread state billboard and television campaign under the aegis of “Government Information”, claims a so-called “Soros plan” exists, and calls on Hungarians to express their opinions on it. More...

Hungary to Get World Bank Support on Labor Shortages

10. 16. 2017. 15:34

bbj.hu

Confronted with major labor shortages, the Hungarian government is continuously looking for new solutions. The latest is an agreement on technical support signed with the World Bank Saturday by Minister for National Economy Mihály Varga. More...

Many EU States Pursue Hypocritical Policy Toward Russia - Hungarian FM

10. 13. 2017. 17:35

Sputnik

Many EU states pursue a hypocritical policy toward Russia by supporting anti-Moscow sanctions while actively promoting trade and economic cooperation with the country, Hungarian Foreign Minister Peter Szijjarto said in an interview with Italy's Il Sole 24 Ore newspaper on Friday. More...

Hungarian State Buyer Snaps up Soured Mortgages in Bank Clean-up

10. 13. 2017. 17:23

Reuters / By Gergely Szakacs

Hungary is competing with foreign investors to buy non-performing loans from its banks as it pursues Prime Minister Viktor Orban’s policy of boosting state involvement in sectors such as banking, energy and retail. More...

Gender Equality Best in Sweden, Worst in Greece

10. 12. 2017. 16:15

EUobserver / By

Sweden and Denmark top the EU in terms of gender equality in society, while Greece and Hungary rank at the bottom. A report out on Wednesday (11 October) from the European Institute for Gender Equality, an EU agency in Lithuania, noted an overall "snail's pace" in progress towards gender equality in the EU when comparing 2015 to 2005. More...

STATISTICAL UPDATE: Prices

10. 11. 2017. 16:53

Central Statistical Office

Consumer prices were 2.5% higher on average in September 2017 than this time last year. The highest price rises over the past year were measured for alcoholic beverages and tobacco as well as motor fuels and food. Details...

Hungary EcoMin Submits Bill to Lower Social Contribution Tax

10. 11. 2017. 16:46

portfolio.hu

Hungary’s Economy Minister Mihály Varga has submitted a bill to Parliament on Tuesday that would lower the employers’ social contribution tax to 19.5% from the current 22% as of next year. More...

FT: Central Europe Is Becoming Power House Of European Economic Growth

10. 11. 2017. 15:59

Hungary Today

As the Eurozone’s Southern economies have switched to crisis-related divergence in the past decade, the economies of Central and Castern Europe (CEE), including Hungary’s economy, have become the bright spot of the European convergence story, according to a fresh article published on Financial Times. More...

 

GKI Projects GDP Growth of 3.8% in 2017, 2018

10. 10. 2017. 15:37

bbj.hu

Given the high rate of investments in Hungary, economic research institute GKI has raised its GDP growth forecast from 3.5% to 3.8% for both this year and the next. Despite the positive outlook, there are long-term risks too, GKI added. More...

Hungarian Scientists Among World’s Best, Nobel Laureate Economist Says

10. 10. 2017. 15:27

Hungary Today

“This is the first time I pay a visit to Hungary and I clearly see the impacts of the EU process on the country’s culture, institutions, ideas and education. At the same time I’m also feeling a fantastic intellectual buzz around here”, said Nobel laureate economist Thomas J. Sargent in a recent interview with Hungarian economy and finance news portal portfolio.hu. More...

STATISTICAL UPDATE: Retail; Industrial Production; External Trade

10. 09. 2017. 17:01

Central Statistical Office

- In August 2017, the volume of sales in retail shops, according to both raw and calendar-adjusted data, grew by 4.6% compared to the same period last year. In January–August 2017, the volume of sales was 4.0% higher than in the corresponding period of the previous year. Details....

- In August 2017, the volume of industrial output rose by 6.8% year-on-year. Details...

- In EUR terms, exports were up by 10% and imports by 13% in August 2017. Details...

INNOVATION: Hungarian Developers Put MAP Health Watcher on Market

10. 09. 2017. 16:00

Press Release

Developed by Hungarian medical and IT professionals and marketed simultaneously in Hungary and the US, the MAP Health Watch monitors six vital signs 24 hours a day, making it possible to detect emerging medical problems, such as heart disease and infection, even before they produce any visible symptoms. More...

EXPERT VIEW: The Tax Aspects of Hungarian Real Estate

10. 06. 2017. 17:30

bbj.hu

No wonder that real estate plays a major role in the overall M&A market, since these properties represent financial and emotional security too. Both buyer and seller try to maximize their cost-benefit ratio, and are dependent on reliable data. In this article we would like to give an insight into the specialties of real estate taxation in Hungary. Details

Rosatom's Paks Nuclear Project in Hungary Delayed

10. 06. 2017. 17:20

Reuters

Russian Rosatom’s 12.5 billion euro project to build two nuclear reactors at the Paks nuclear site in Hungary has been delayed by at least a year, Hungarian authorities said. More...

Hungary Issues Ten-Year EUR 1 bln Eurobond at 1.9% Yield

10. 05. 2017. 16:24

bbj.hu

Hungary has issued a ten-year EUR 1 billion eurobond at a yield of 1.9%, Minister for National Economy Mihály Varga said at a press conference on Thursday. Over-subscription was almost sixfold,  Varga added, as reported by state news agency MTI. More...

Top Banker Says Hungary May Adopt the Euro Sooner Than Expected

10. 05. 2017. 16:20

Bloomberg / By John Micklethwait,Zoltan Simon and Balazs Penz

Hungary may adopt the euro sooner than its government is willing to admit, as Europe’s renewed integration drive pulls even countries reluctant to join into the common currency, the nation’s top banker said. More...

Foster + Partners Reveals Budapest Plans

10. 04. 2017. 18:03

World Architecture News

Designs for MOL Campus, the new headquarters for the MOL Group, a global oil and gas company based in Hungary have been revealed. The new building is a vision for the workplace of the future that places sustainability at the heart of the campus. More...  Read also Budapest Skyscraper Sparks Controversy

Art Market Budapest 2017

10. 03. 2017. 15:43

Press Statement

Established in 2011, ART MARKET BUDAPEST, the international art fair presents a unique artistic composition in perhaps the most exciting exhibition halls and in one of the culturally most attractive cities in Europe, that, while it features some of the exhibitors welcomed even by the oldest art fairs, gives an emphasized presence to a younger generation of galleries and artists including the now emerging stars of the future. This year ART MARKET has selected Israel as guest of honor. The event will direct attention towards the high-level, yet internationally lesser-known Israeli art scene. More...

Corporate And Retail Lending Climb In August - MNB

10. 03. 2017. 15:24

bbj.hu / MTI

Hungarian banksʼ stock of corporate loans, as well as deposits, rose in August from the previous month, fresh data from the National Bank of Hungary (MNB) show. At the same time, the retail lending stock continued to climb in August, state news wire MTI reported. More...

STATISTICAL UPDATE: External Trade

10. 02. 2017. 15:41

Central Statistical Office

In July 2017, the export volume increased by 2.2%, the import volume by 8.4%, and the surplus decreased by EUR 379 million compared to the same month of the previous year. In the first seven months of 2017, the external trade surplus was EUR 5.1 billion. Details...

CEO of Hungary's Top Bank Vows to Buy Five Lenders by 2019

10. 02. 2017. 15:37

Bloomberg / ByJohn Micklethwait and Zoltan Simon

Hungary’s largest commercial lender is planning at least five bank takeovers in the next two years, seeking to profit from a wave of consolidation across the industry. OTP Bank expects to see the share of group revenue generated from outside the country rise to 70 percent after the deals from about 45 percent currently, Chairman and Chief Executive Officer Sandor Csanyi said in an interview in Budapest last week. More...

CEUʼs InnovationsLab Best Accelerator, Incubator in Hungary

09. 29. 2017. 14:47

bbj.hu

CEU InnovationsLab was named Best Accelerator and Incubator in Hungary at the Central European Startup Awards competition, and will represent Hungary in Sofia, Bulgaria in November at the Grand Finale of the CES Awards. More...

STATISTICAL UPDATE: Gov't Expenditure

09. 29. 2017. 14:38

Central Statistical Office

The surplus of the general government sector in the 1st half of 2017 was HUF 270.5 billion, 1.5% of GDP according to preliminary data, HUF 183.9 billion more or 1.0 percentage point higher as a proportion of GDP compared to the same period of 2016. Details... Also on this subject: VAT gap shrinking in Hungary