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Croatia real GDP growth slows in Q4, c.bank says

The available monthly indicators suggest that Croatia’s real gross domestic product (GDP) growth slowed in the fourth quarter of 2019, while the labor market continued…

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Hungary farm sector output reached HUF 2.789 tln in 2019

Gross output of Hungaryʼs agriculture sector rose 3.56% to HUF 2.789 trillion last year, state news wire MTI reports, citing data by the Central Statistical…

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Enterprise birth rate above EU average

The enterprise birth rate in Hungary stood at 12.9% in 2017, well above the European Union average, according to recently released data by statistical agency…

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Bulgaria average gross monthly wage rises in Q4

The average gross monthly wage in Bulgaria has increased by an annual 12.1% to BGN 1,313 (EUR 671) in the fourth quarter of 2019, the…

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Hungary state debt at 64.8% of GDP at the end of 2019

Hungaryʼs state debt (without Eximbank data) stood at 64.8% of GDP at the end of December 2019, down from 66.5% of GDP at the end…

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Romania January inflation at 3-month low

Romania’s consumer price inflation eased to its lowest level in three months in January after rising in the preceding month, figures from the National Institute…

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Orbán announces climate plan, blasts Soros in address

Prime Minister Viktor Orbán delivered his annual state-of-the-nation address yesterday at the Castle Garden Bazaar, talking about topics such as the governmentʼs climate protection plan,…

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Wizz Air suspends flights to Odessa

Low-cost airline Wizz Air will suspend flights to Odessa from late March to early June for security reasons, according to azuzlet.hu. Powered by WPeMatico

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S&P changes outlook on Hungary rating to ʼpositiveʼ from ʼstableʼ

S&P Global Ratings on Friday changed the outlook on Hungaryʼs “BBB” sovereign rating to “positive” from “stable”, state news wire MTI reports. Powered by WPeMatico

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Fitch affirms Hungary ʼBBBʼ rating; outlook ʼstableʼ

Fitch Ratings on Friday affirmed Hungaryʼs ʼBBBʼ sovereign rating, two notches over the investment grade threshold, with a ʼstableʼ outlook, state news wire MTI reports….

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Number of yearly marriages above EU average

The average number of marriages per 1,000 inhabitants stood at 5.2 in Hungary in 2018, somewhat above the EU average of 4.4, according to a…

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Hungary to extend USD 50 mln in tied aid to Rwanda

Hungary will extend USD 50 million in tied aid to Rwanda, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting with his…

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Hungary could start taking deliveries of Azeri gas from 2023

Hungary could start taking deliveries of 1 billion-2 bln cubic meters of gas from Azerbaijan from 2023, Minister of Foreign Affairs and Trade Péter Szijjártó…

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Construction output increased by 21.7% in 2019

According to raw data, construction output was 2.7% higher in December 2019 than a year earlier, according to Central Statistical Office (KSH). Powered by WPeMatico

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50 SMEs Eligible for Hungarian Multi-Program

About 50 micro, small and medium-sized enterprises are expected to enter this year’s Hungarian multi-program (MMP), said Balázs Szepesi, Deputy State Secretary for Economic Development…

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Czech ČEZ plans to build car battery ‘gigafactory’

Czech power company ČEZ plans to build a “gigafactory” for batteries for cars in North Bohemia in the coming years that would use lithium discovered…

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More Hungarians open securities accounts with Treasury

The balances of retail government securities accounts at the Hungarian State Treasury rose to HUF 2 trillion last year from HUF 500 billion in 2013,…

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AutoWallis discloses theft at BMW dealerships

Listed car seller AutoWallis on Friday disclosed that inventory with a value of “at most HUF 250 million” was “illegally removed” from the lots of…

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Lamborghini order lifts Schäfer-Oesterle Kft. revenue

Net revenue of leather car interior maker Schäfer-Oesterle Kft, based in Bonyhád (139 km southwest of Budapest), rose 30% to EUR 31 million last year,…

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Bosnia retail trade grows in December

Retail sales in Bosnia and Herzegovina jumped 7.3% year-on-year in December, up from a 4.1% rise in the previous month, according to figures released by…

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Wizz Air ends Budapest-Frankfurt flight

Wizz Air has announced that it will cease offering flights between Budapest and Frankfurt from April 30, the low-cost airline told Hungarian news site index.hu. …

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Deloitte Hungary appoints new tech advisory partner

Big Four firm Deloitte Hungary announced the appointment of Dániel Kiss as partner of its technology advisory branch, effective February 3, according to a press…

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Budapest One Business Park named Europa Design WELL Project of the Year

Budapest One Business Park was named the Europa Design WELL Project of the Year 2019 at the EuropaProperty CRE gala, in recognition of its interior…

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Czech c. bank hikes key interest rate unexpectedly

The Czech National Bank raised its key interest rate unexpectedly on February 6, after holding it unchanged for five policy sessions in a row.  Powered…

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Hungary gender pension gap below EU average

In 2018, women in Hungary received a pension that was on average 16% below that of men, meaning that the gender gap in pensions was…

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KitKat Gold to debut in Hungary

Nestlé announced bringing KitKat Gold to Hungary, making the country one of the first European markets of the candy bar, according to a press release…

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Czech industrial production falls in December

The Czech Republic’s industrial production declined further and its trade deficit increased in December, figures from the Czech Statistical Office (CZSO) show. Powered by WPeMatico

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Opus makes offer for E.ON Hungária energy trader

Listed holding company Opus Global on Monday said it submitted a binding offer to buy E.ON Energiakereskedelmi (Eker), the energy trading unit of E.ON Hungária,…

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Trade surplus at EUR 134 mln in December

In EUR terms, the value of exports decreased by 0.8% and that of imports went up by 2.6% in December 2019 compared to the same…

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Labor costs weigh on construction companies in Poland more than ever

Business confidence among Polish construction companies tumbled early this year, with the heaviest burden, as perceived by the enterprises, coming from labor costs and tax…

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DUIHK Investment Climate Survey open for participation

The German-Hungarian Chamber of Industry and Commerce (DUIHK) is set to publish its Investment Climate Survey 2020 in April. The online questionnaire is now available…

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Hévíz 12th in European Destinations of Excellence ranking

The Hungarian spa town of Hévíz, home to Europeʼs largest thermal lake, has been voted the 12th best place to visit in this yearʼs European…

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Poland to hold presidential elections in May

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Tourism nights, sales revenues up in December

In December 2019, the number of nights spent by international tourists increased by 13% and that of nights spent by domestic tourists decreased by 3.4%…

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Gen govʼt shows January surplus

Hungaryʼs cash flow-based general government balance, excluding local councils, had a HUF 90.4 billion surplus in January, the Finance Ministry said in a preliminary reading…

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Lithuania HICP inflation accelerates further in January

Lithuania’s EU measure of inflation accelerated for a third straight month in January, flash estimates from the Statistics Lithuania (LS) showed on January 30. Powered…

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ChocoMe: from a home-grown enterprise to a globally renowned chocolate empire

You have probably heard the brand name “chocoMe”. Over the last few years the press has been loud with the various awards and accolades this…

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BBJ Expat CEO of the Year 2020 gala gallery

Pictures from the BBJ Expat CEO of the Year 2020 gala. More will soon be available by following this link. Powered by WPeMatico

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Croatia retail sales rise in December

Croatia’s retail sales rose in December after easing in the previous month, data from the Croatian Bureau of Statistics (Crostat) showed. Powered by WPeMatico

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Spar joins NKM EV charger network

Spar announced the integration of its 33 EV chargers built last year into the Mobiliti system of NKM Mobilitás Kft. meaning that the chargers could…

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Hungary PMI falls to 52.5 in January

Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) fell to 52.5 points in January from 53.9 in December, the Hungarian Association of Logistics, Purchasing and Inventory Management…

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PPI rises 2.4% in December, up 2.1% in 2019

Industrial producer prices as a whole were 2.4% higher in December 2019 than in the same period of the previous year, according to a report…

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Qatar Airways suspends flights to China

Qatar Airways has taken the decision to suspend flights to mainland China starting today, until further notice due to significant operational challenges caused by entry…

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The number of non-EU workers in Slovakia increases

About 78,300 foreigners worked in Slovakia in the end of 2019, local media reported citing data of the Central Office of Labor, Social Affairs and…

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AutoWallis vehicle sales up 21.1% in 2019

Listed auto trader AutoWallis says that it managed to grow its total number of vehicle sales by 21.1% in 2019 to 6,008, based on preliminary…

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Graphisoft seeks clearance for EUR 33 mln structured share repurchase

Graphisoft Park, a listed company that owns and operates a business park in the north of Budapest, has called a general meeting for March 2…

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Romanian jobless rate falls to 4-month low in December

Romania’s unemployment rate edged down to 3.9% in December compared to 4% in the previous month, the Bucharest-based National Institute of Statistics (INS) said on…

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Price of pork skyrockets

The price of pork has increased significantly in recent months and, according to the supermarket chains speaking to Magyar Nemzet, the effect of the increase…

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400,000 Poles in UK without settled status, Polish daily says

About 400,000 Poles living in the United Kingdom have not yet applied for “settled status”, which would allow them to stay in the country after…

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Cisco: Tech Trends for 2020 and Beyond

The Budapest Business Journal talks with Cisco Hungary general manager Ottó Dalos about the tech trends that will define the upcoming decade. Powered by WPeMatico

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Mercedes Hungary: production at full capacity

Demand for Mercedes-Benz compact cars is buoyant worldwide, with a full capacity production program for the German premium car manufacturer in Kecskemét (90 km southeast…

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Hungary importing less electricity

Gross domestic electricity consumption reached 45.66 TWh in 2019, an increase of 243 GWh, or 0.53% from 45.41 TWh in 2018, according to the website…

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Hungarian-based Global Automotive Software Supplier NNG on Automotive Industry Trends

The continuous development of the software industry is having a powerful impact on a growing number of other sectors. In the years ahead, software solutions…

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Melanie Seymour named Expat CEO of the Year

BlackRockʼs Melanie Seymour took home the BBJ Expat CEO of the Year award at the sixth annual Top Expat CEO Gala, held at the Corinthia…

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Szentkirályi-Kékkuti celebrates year of record sales

Mineral water and soft drinks company Szentkirályi-Kékkuti Ásványvíz Kft. closed 2018 with HUF 17.2 billion in revenues, up almost 10% since 2017, while also doubling…

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1 in 5 firms see compliance with GDPR as impossible – EY

Most companies are unable to fully satisfy the terms of the EUʼs General Data Protection Regulation (GDPR), and about one-fifth of firms believe that it…

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BP Szeged SSC headcount approaching 500

The headcount of BPʼs shared services facility in Szeged, southern Hungary, is closing in on the landmark number of 500, only one-and-a-half years after its…

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Investment fundsʼ net asset value up 5% in 2018

Net asset value (NAV) of investment funds in Hungary rose 5% to total some HUF 6.932 trillion in the twelve months to the end of…

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Business confidence down, consumer confidence up in February

Economic research institute GKIʼs Economic Sentiment Index, its combined gauge of consumer and business confidence, fell by 0.4 of a point to 6.7 in February,…

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Business confidence worsens, consumer confidence improves in February – GKI

Economic research institute GKIʼs combined gauge of consumer and business confidence fell 0.4 point to 6.7 in February, falling for the second month in a…

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Tarlós recommends flight ban between midnight and 5 a.m.

Mayor of Budapest István Tarlós said he would recommend closing Ferenc Liszt International Airport to flights between midnight and 5 a.m. to keep noise down,…

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KKI presents roundtable on last 100 years of Austria

The Institute of Foreign Affairs and Trade (KKI) is organizing a pubic lecture titled “100 years of the Austrian Republic: Lessons and Outlook from a…

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Fitch upgrades Hungary to ʼBBBʼ; outlook ʼstableʼ

Fitch Ratings raised Hungaryʼs long-term foreign and local currency Issuer Default Ratings (IDRs) from “BBB-” to “BBB”  at a scheduled review late Friday evening. The…

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More European funds to support energy efficiency in residential buildings

The European Local Energy Assistance (ELENA) facility will benefit from EUR 97 million of new funding from the European Commission for residential buildings, with the…

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Govʼt decides on developments in 440-450 villages

Hungaryʼs government took decisions on “economic development matters” affecting 440-450 villages at a cabinet meeting on Wednesday, Prime Minister Viktor Orbán said in a weekly…

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Oxford University Press opens Budapest tech center

Oxford University Press opened its most recent tech center in Budapest; it will strengthen OUPʼs technological capabilities by contributing to digital developments and supporting its…

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3 out of 10 Hungarians changed jobs due to workplace stress

About three out of ten employees in Hungary have already changed jobs due to workplace stress, with most preferring to deal with tense situations by…

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Ticket sales for direct Shanghai-Budapest flights start in June

Sales of tickets for direct flights between Budapest and Shanghai are set to start on June 7, marking a milestone in Budapest Airportʼs (BUD) efforts…

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Enmech Hungary invests HUF 6.4 bln in capacity expansion

Automotive parts manufacturer Enmech Hungary is investing HUF 6.4 billion in expanding production capacity at its base in Pécel on the outskirts of Budapest, Minister…

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Microsoft Hungary names Mattheisen new general manager

Microsoft Hungary has announced the appointment of former Magyar Telekom CEO Christopher Mattheisen as general manager, effective March 4, 2019, according to a press release…

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Gerald Grace named Invitech CEO

Business IT solutions provider Invitech has announced the appointment of Gerald Grace as Chief Executive Officer. Gerald succeeds David Blunck, who will leave the company…

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Hungaryʼs state debt 70.9% of GDP, including Eximbank

Hungaryʼs national debt as a percentage of GDP reached 70.9% at the end of last year, down from 73.4% at the end of 2017, preliminary…

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ALLEA reinforces call for academic freedom of MTA

The European Federation of Academies of Sciences and Humanities (ALLEA) has repeated its call to protect the institutional autonomy and academic freedom of the Hungarian…

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Slovenia to cancel hydroelectric plants along Mura

Sloveniaʼs Minister of the Environment Jure Leben has announced a decree that will cancel the construction of eight previously planned hydroelectric power plants along the…

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MNB sets date for old HUF 10,000 bill withdrawal

The National Bank of Hungary (MNB) will withdraw old HUF 10,000 bills at the end of this year, a decree published in the latest issue…

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The music of nations presents France

The concert series of the Sinfonietta Pannonica Ensemble, representing the style and tunes of various nations through each performance, will offer a deeper insight into…

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S&P upgrades Hungary to ’BBB’; outlook ’stable’

Standard & Poor’s Global Ratings, one of the three big ratings agencies, has upgraded Hungary’s sovereign rating to “BBB”, two notches over the investment grade…

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Dunaferr raises wages by 13% on average

Iron- and steel group Dunaferr announced it will raise the salary of its employees by an average of 13% in 2019, after signing a deal…

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Work permit quota for non-EU nationals set at 57,000 in 2019

Hungaryʼs Minister of Finance has set the quota for work permits issued to foreign nationals from countries outside of the European Union at 57,000 for…

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Farmgate prices up 5.8% in December – KSH

Farmgate prices in Hungary were up 5.8% year-on-year in December 2018, the Central Statistical Office (KSH) said today, Hungarian news agency MTI reports. Powered by…

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Telekom Volt Fest announces full international lineup

Organizers of the Telekom Volt Festival, running between June 26-29, announced that its international lineup of performers is now complete, with the likes of Black…

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Pfizer signs cooperation agreement with SZTE

The University of Szeged (SZTE) has announced a cooperation deal with drugmaker Pfizer Gyógyszerkereskedelmi Kft., which will result in the universityʼs patients being able to…

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Foundation with 10% stakes in MOL, Richter to fund Corvinus Uni

A foundation that holds 10% stakes in Hungarian blue chips MOL and Richter is being established to fund Corvinus University of Budapest, the ministers of…

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New international law firm with CEE focus enters market

Collegium Bitai & Partners, a new law firm with a special focus on the CEE region, has entered the Hungarian market, according to a press…

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Hungary needs 4,000 MW of new power plant capacity in 15 years

Hungarian transmission system operator (TSO) MAVIR estimates that at least 4,000 MW of power plant capacity will have to built in the coming 15 years,…

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NAV to issue certificates for payroll tax exemptions

Hungaryʼs National Tax and Customs Authority (NAV) will start sending businesses certificates for employees eligible for payroll tax preferences on Monday, taking over the administrative…

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Mazars names CEE head of business development

Audit, accounting and consulting group Mazars has announced the appointment of András Bagyura as head of business development in the CEE region, incorporating ten countries,…

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No-deal Brexit complicates tax issues for companies, says Deloitte

Professional services firm Deloitte says that the increasing possibility of a no-deal Brexit might raise a number of questions, including tax issues related to cross-border…

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Orbán reveals radical family support package

Prime Minister Viktor Orbán unveiled a package of measures to support families with children at his annual state of the nation address on Sunday, including…

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Orbán reveals family support package

Prime Minister Viktor Orbán unveiled a package of measures to support families with children at his annual state of the nation address on Sunday, including…

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PINCE Gallery showcases Emese Kádár

Art gallery PINCE, located at Hajnóczy József utca 5 in Budapest, is presenting Emese Kádár’s exhibition entitled “No-line” from tomorrow at 6 p.m., the Facebook…

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PINCE Gallery showcases Emese Kádár’s exhibit

Art gallery PINCE, located at Hajnóczy József utca 5 in Budapest, is presenting Emese Kádár’s exhibiton called “No-line” tomorrow at 6 p.m., the Facebook site…

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Trócsányi in Bucharest: Hungary open to debate on rule of law

Hungarian Minister of Justice László Trócsányi participated in a meeting of EU justice ministers in Bucharest where he said Hungary is open to any debate…

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Energy sector has less than 5 years to transform – PwC

Less than five years are available for the energy sector to prepare for market changes generated by technological development and consumer trends, according to a…

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Telenor appoints corporate comms director

Telenor Hungary has announced the appointment of Attila Mészáros as its new corporate communications director, responsible for the sustainability area as well as internal and…

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Room for improvement in holiday e-tail – eNET

While both the Black Friday and Christmas shopping periods in 2018 could be considered commercially successful, there is still room for improvement and fine-tuning if…

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Over 50% of Budapest home purchases made for investment

The ratio of those buying a home in Budapest for investment purposes exceeded 50% in the past two months, listed real estate agency Duna House…

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General govʼt closes January with budget surplus

Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 244.5 billion surplus at the end of January, the Ministry of Finance said in…

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CEE no longer ‘Wild East’ of startup scene

The Central and East European region is no longer the “Wild East,” but serves as an important, growing part of the European startup community, with…

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Red Ball Theater brings ‘American entrepreneurial mindset’ to workshops

Red Ball Theater in Budapest aims at making communication “easy, fun, and cool” with a variety of workshops and programs, the theaterʼs founder Peter Mezey…

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Europ Assistance helps 6,000 stranded motorists

In the past two months alone, almost 6,000 stranded motorists received roadside assistance from Europ Assistance Hungary, according to a press release sent to the…

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Govʼt to draft program protecting economy vs global slowdown

Government ministries are drafting plans that could become elements of a program to shield the economy from the impact of a global economic downturn, Finance…

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November trade surplus revised down to EUR 478 mln

The November trade surplus was revised downwards to EUR 478 million in a second reading of data released by the Central Statistical Office (KSH) on…

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Hungary eyes LNG imports from Italy via Slovenia

Hungary and Slovenia could apply jointly for European Union funding to connect their gas networks, allowing Hungary to import liquefied natural gas (LNG) from Italy,…

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Hungary PMI slips in January

Hungaryʼs seasonally adjusted Purchasing Managersʼ Index (PMI) inched down to 54.0 in January, from 54.3 in December, the Hungarian Association of Logistics, Purchasing and Inventory…

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Coworking in CEE event at MÜPA

The third “Europe & CEE Investment Briefing” in Hungary organized jointly by PropertyEU & TriGranit will be held at MÜPA Budapest (formerly known as the…

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MAITT opens new initiative on blood management

The Hungarian Society of Anesthesiology and Intensive Therapy (MAITT) is launching a new initiative with the National Blood Transfusion Service (OVSZ) to better manage the…

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KKI event on future of economic and monetary union

The Institute for Foreign Affairs and Trade (KKI), in cooperation with the State Secretariat for European Union Policies and Coordination of the Prime Minister’s Office,…

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Tungsram enters Europeʼs elite innovation club

Hungarian lighting company Tungsram has signed a cooperation agreement with leading European digital transformation organization EIT Digital, the company has told the Budapest Business Journal….

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Corporate lending stock falls in December

The corporate lending stock of Hungarian banks fell in December from the previous month on net repayments and revaluations, fresh data from the National Bank…

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DVM enters next phase of Margitsziget Health Spa Resort renovation

Danubius Hotels Group has entrusted DVM group with the next phase of renovations of its Health Spa Resort Margitsziget in Budapest. Powered by WPeMatico

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Moodyʼs removes affirmation from some M6 Duna notes

Moodyʼs Investors Service has removed the affirmation from the EUR 212 million Floating Rate Secured Notes due 2025 (ISIN XS0245906150) issued by M6 Duna Autópálya…

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Hungarians prepared responsibly for the holidays – Provident

Most people in Hungary spent the Christmas and New Year celebrations at home, and planned ahead for the related expenses, according to a survey by…

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Insurersʼ premium revenues climb 8% in Q1

First-quarter revenue from premiums of Hungarian insurers rose 8% year-on-year to HUF 275.6 billion, fresh data compiled by the National Bank of Hungary (MNB) show,…

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MNB clears Wallis buyout offer for Altera shares

The National Bank of Hungary (MNB) on Tuesday approved a mandatory public purchase offer for the outstanding shares of holding company Altera by Wallis Asset…

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Industrial output up 7.8% in April

In April 2018, the volume of industrial output increased by 7.8% year-on-year, according to a first estimate by the Central Statistical Office (KSH). Based on…

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Daimler breaks ground for second plant in Hungary

German carmaker Daimler laid the cornerstone of a EUR 1 billion plant at its base in Kecskemét (92 km southeast of Budapest) yesterday. Production at…

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Decathlon Hungary welcomes country manager

Diego Rango dʼAragona took over in May at the Hungarian branch of sports retail company Decathlon. He succeeds Gábor Pósfai in the position. Powered by…

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Become a gastronomy connoisseur in one year

The Culinary Institute of Europe is launching a one-year professional culinary arts training program. Registration is now open for the September course. Powered by WPeMatico

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Posted in Latest news - BBJ on the web

Plotinus launches share buyback ahead of delisting

Holding company Plotinus announced on Monday the launch of a share buyback program as part of the gradual delisting of its shares from the Budapest…

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