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Hungary ruling coalition passes 'slavery bill', court reform amidst scandal

December 12, 2018, 2:16 pm
Members of Hungary’s ruling Fidesz-KDNP coalition have adopted legislation on Wednesday that creates administrative courts which opposition parties claim will simply be “Fidesz courts", as... 

Concreting at Hungary's Paks NPP could start in 2019

December 12, 2018, 11:24 am
Rosatom expects to start concreting at Paks 2 nuclear power plant (NPP) in Hungary in 2019 and 2020, depending on license receipt time and project economics, Chief Executive Officer of the Russian nuclear... 

Major automotive industry investment to be brought to Hungary

December 12, 2018, 10:52 am
The Hungarian operation of Canada-based diversified global manufacturing company Linamar is bringing a 17.6 billion forint (EUR 54.42 mn) investment to the local automotive sector, to Békéscsaba, the Minister... 

Hungary's industry finally finds its footing

December 12, 2018, 9:00 am
Industrial production in Hungary grew by 2.0% month on month in October 2018, according to data adjusted seasonally and by working days, the Central Statistical Office (KSH) reported on Wednesday. In annual... 

Retail banking to be the next target of innovative fintech firms

December 12, 2018, 8:35 am
Innovative fintech firms are about to target retail banking after having disrupted the international payments space. It appears, however, that the competition for this business will not be as intense... 

Bank of China notes introduced to trading on Budapest bourse

December 12, 2018, 8:22 am
Bonds issued by the Hong Kong Branch of the Bank of China Limited will be introduced into exchange trading on the Budapest Stock Exchange (BSE) as of 12 December 2019, the bourse announced. According... 

Starbucks to open three more Hungarian units in 2018

December 11, 2018, 4:14 pm
U.S. coffee shop chain Starbucks will open three more units in Hungary this year, bringing the total number of outlets in its Hungarian network to 27, MTI reported on Tuesday. Starbucks is opening one... 

Hungary PM insists 'slavery bill' is in workers' interests

December 11, 2018, 2:04 pm
The government will not withdraw its proposed amendment to the Labour Code as it serves the interest of workers, Prime Minister Viktor Orbán said in an interview in Parliament on Tuesday, adding that while... 

Low demand, higher yields at Hungary T-bill auction

December 11, 2018, 12:47 pm
The Government Debt Management Agency (ÁKK) managed to sell only HUF 48 bn of the originally planned HUF 50 bn lot of 3-month treasury bills at its weekly auction on Tuesday. Yields rose from last week's... 

Hungary agriculture output up 3.1% in 2018

December 11, 2018, 11:26 am
The volume of output of agriculture grew by 3.1% in 2018, the Central Statistical Office (KSH) said on Tuesday. The volume of crop products rose 1.8% according to the first preliminary data, while livestock... 

Hungary's OTP buys own shares for HUF 2.2 bn

December 11, 2018, 10:48 am
Hungary’s OTP Bank bought another 200,000 own shares on the Budapest Stock Exchange (BSE) on Monday, the bank announced on Tuesday. The shares were purchased at a HUF 11,304 average price per... 

Hungary 3.1% November CPI shocks analysts (2)

December 11, 2018, 9:53 am
Consumer prices in Hungary were 3.1% higher on average in November 2018 than a year earlier, down from 3.8% in October, the Central Statistical Office (KSH) said on Tuesday. Analysts anticipated a 3.4%... 

OTP leads 2015-2018 CEE M&A ranking

December 11, 2018, 9:19 am
OTP has been the biggest buyer in the regional banking market for the past two years, ahead of the Polish government, Deloitte said in a freshly published study. Hungarian banks are highly profitable despite... 

Huge turnaround in Hungary: CPI has not done this for eight months

December 10, 2018, 4:44 pm
After Hungary’s annual inflation accelerated close to a six-year high in October 2018, consumer prices rose at a less drastic pace in November, mainly due to a sharp fall in oil prices, analysts... 

Tesco to open new Business Services Centre in Budapest

December 10, 2018, 2:05 pm
UK-based retail chain Tesco has announced on Monday that it is setting up a new Central European business service centre in Budapest, creating several hundreds of new jobs in Hungary. The Tesco Business... 

Hungarian fund managers name favourite stocks

December 10, 2018, 12:43 pm
Global stock markets have had a busy month in November, but despite trade war concerns and downside risks one of the main surprises was delivered by the Budapest Stock Exchange (BSE), as BUX entered December... 

Fate of Brexit to be decided this week

December 10, 2018, 9:50 am
It will turn out within a few days if any chance is left for Brexit if the British Parliament does not adopt the agreement, as then a hard Brexit or the reversal of the exit from the European Union could... 

Clouds are gathering over Hungary's banking sector

December 10, 2018, 8:48 am
Credit institutions in Hungary posted 425 billion combined profit in the first three quarters of 2018, down from HUF 483 bn in the same period of 2017. The contraction primarily has to do with less provision... 

Hungary's Orbán makes "confession" about wage hike plans

December 7, 2018, 3:43 pm
Hungary’s Prime Minister Viktor Orbán has addressed economic growth, wage hikes in the public sector and the expected direction of economic policy in his regular interview with public radio MR1 on... 

Planned wage hikes seen upsetting Hungary's budget in 2020

December 7, 2018, 2:36 pm
In recent weeks Hungarian ministers announced three waves of public sector wage increases that will affect the spending side of the budget. Analysts at OTP Research published a research note assessing... 
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