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Pleasant past, murky future at Budapest Bank

March 22, 2017, 5:14 pm
Hungary’s state-owned Budapest Bank posted 13.1 billion forint after-tax profit in 2016, slightly below the previous year’s print. Lending grew at a dynamic rate of 11%, and Budapest Bank plans... 

Raiffeisen Hungary really steps on it

March 22, 2017, 3:11 pm
A period of consolidation and stabilisation at the Hungarian unit of Austria’s Raiffeisen bank has come to an end. The bank reported 15.7 billion forint forint for 2016, double the profit posted... 

EU court rules against Hungarian road toll system

March 22, 2017, 1:23 pm
The European Court of Justice (ECJ) ruled on Wednesday in favour of two transport companies that challenged Hungary’s toll system. The ECJ ruled that the fine imposed on two transport companies... 

Hungary nuclear referendum questions blocked

March 22, 2017, 12:05 pm
Hungary’s National Election Committee (NVB) has rejected the authentication of questions submitted by green party LMP to be asked in a referendum about the expansion of the Paks nuclear power plant.... 

Hungary wants Heineken to change star on label back to white

March 22, 2017, 8:52 am
János Lázár, cabinet chief for Prime Minister Viktor Orbán, wants every lawmaker in Parliament to fall in behind ‘lex Heineken’ in order to “protect Hungary’s national interests".... 

Hungary Fidesz party is all for further tax reductions in 2018 - Kósa

March 21, 2017, 5:02 pm
The Hungarian government is expected to submit its draft bill on next year’s budget to Parliament on 26 April, said Lajos Kósa, caucus leader of the ruling Fidesz party, told a press conference on... 

Major changes in Hungary OTP management in 2-3 yrs - Csányi

March 21, 2017, 3:40 pm
OTP Bank, Hungary’s largest bank by assets, has gotten extremely close to acquiring a bank in Montenegro, and it is also interested in a Romanian and in a Ukrainian bank, Chairman-CEO Sándor Csányi... 

Hungary savings co-operatives to be merged into 12 regional associations

March 21, 2017, 2:36 pm
Hungary’s 52 savings co-operatives are to merge into 12 regional savings associations by the end of 2017, according to a joint statement published by Takarékban and the Integration Organisation of... 

Will Hungarian lawmakers revoke 'lex Heineken'? "Bollocks!"

March 21, 2017, 12:10 pm
The withdrawal of ‘lex Heineken’ is impossible, said János Lázár, minister leading the Prime Minister’s Office, in an interview with commercial broadcaster ATV on Tuesday. The other person... 

Negative yield at Hungary's short T-bill auction

March 21, 2017, 11:49 am
The lowest accepted yield on Hungary’s 3-month discount Treasury Bill has come to -0.01% at the Government Debt Management Agency’s (ÁKK) weekly auction on Tuesday. This is the first time we... 

Gov't may back down on plan to effectively ban Heineken in Hungary

March 21, 2017, 9:28 am
Even the lawyers of Hungary’s ruling Fidesz party cannot provide sound arguments in favour of a bill dubbed “lex Heineken", thus the cabinet has dropped a plan to sweep the Dutch brewer’s... 

Hungary OTP to pay HUF 190 dividend per share on 2016

March 21, 2017, 8:38 am
Hungary’s OTP Bank is to pay 190 forint dividend per share from 2016 profits, the proposals for the Annual General Meeting showed on Tuesday. The AGM is to be held on 12 April. OTP is to hold... 

UniCredit sells bad mortgage loan portfolio in Hungary

March 20, 2017, 5:24 pm
UniCredit has announced on Monday it sold 42.7 billion forints worth of non-performing mortgage portfolio to an unidentified Hungarian financial enterprise. The following statement was released by UniCredit.... 

Did Hungary breach agreement with banks?

March 20, 2017, 4:51 pm
The European Bank for Reconstruction and Development (EBRD) responded amicably to the amendment of the Judicial Enforcement Act by the Hungarian Parliament by which - to Portfolio’s best knowledge... 

Hungary EcoMin would not rush into roughing up retail chains

March 20, 2017, 1:51 pm
Hungary’s Economy Minister Mihály Varga would not rush with changing legislation that would be to the detriment of the retail sector, at least a remark by the minister showed on Monday. Asked... 

Hungary forint bulking up but may soon run out of steam

March 20, 2017, 10:55 am
The Hungarian forint may move to weaker levels over the next few weeks and months due to the central bank’s (MNB) loose monetary policy and increased global risks, according to the latest analyses.... 

Gross wages jump 10% in Hungary in January

March 20, 2017, 9:00 am
As a result of a drastic minimal wage hike, gross wages in the Hungarian economy rose sharply by 10% year on year in January 2017, the Central Statistical Office (KSH) reported on Monday. At the same time... 

Audi Hungarian revenue down 10% in 2016

March 17, 2017, 9:46 pm
Revenues of the Hungarian unit of German carmaker Audi dropped by 10% year on year in 2016, the company reported. Audi Hungaria Zrt. posted revenues of HUF 7.136 billion in 2016, down from HUF 7.906... 

German automotive supplier to invest EUR 21 mn in new Hungarian plant

March 17, 2017, 4:10 pm
German automotive manufacturing company ElringKlinger is to invest some 21 million euros (6.5 billion forints) to build a new factory in Kecskemét, Hungary, creating 700 new jobs over a period of a few... 

Hungarian fuels group Mol to double network of filling stations in Serbia

March 17, 2017, 2:25 pm
Hungarian oil and gas group Mol is expand in Serbia, the Chief Executive of Mol Serbia told a press conference on Friday when announcing the company’s 2016 results. Mol aims to double the number... 
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