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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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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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ÁKK sells HUF 75 bln of three-month T-bills, over plan

The Government Debt Management Agency (ÁKK) sold HUF 75 billion of discount three-month T-bills at auction on Tuesday, raising its original offer by HUF 25…

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Retail sales increase 4.3% in April

Retail sales in Hungary rose 4.3% year-on-year in April, the Central Statistical Office (KSH) said in a first reading of data on Tuesday. Growth slowed…

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Stats office confirms Q1 GDP growth at 4.4%

The volume of gross domestic product was 4.4% higher in Hungary in the first quarter of 2018 than in the corresponding period of the previous…

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Opus Global to secure majority in KALL Ingredients

Holding company Konzum said Tuesday it has agreed to acquire a 45% stake in KALL Ingredients, and to transfer the stake as a contribution in…

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Banks see similar rises in corporate, retail lending in April

Non-financial companies were net borrowers of HUF 51 billion in April, lifting Hungarian banksʼ corporate lending stock to HUF 6.78 trillion, show monthly data released…

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Master brewer and barista to talk finances

The owners of brewery Hara’Punk Brewing and coffee house A Kávé Háza will talk about their paths to success and responsible financial decisions at an…

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Hungary PMI rises to 55.4 in May

Hungaryʼs seasonally adjusted Purchasing Managersʼ Index (PMI) rose to 55.4 points in May, up from 53.3 points in April, state news wire MTI reported.  An…

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Wizz Air fleet at Budapest reaches 100 aircraft

Hungarian low-cost airline Wizz Air added the 100th aircraft to its fleet in Budapest on Monday. Wizz Air has committed orders for a further 268…

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Wizz Air fleet reaches 100 aircraft

Hungarian low-cost airline Wizz Air added the 100th aircraft to its fleet in Budapest on Monday. Wizz Air has committed orders for a further 268…

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Máv Symphony Orchestra gives free concerts

Marking the last month of its 2017/18 season, the Máv Symphony orchestra gave free concerts at several Budapest locations from 3 p.m. on Saturday (June…

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Coloplast Completes Third Phase of Factory in Nyírbátor

The newly built production hall of Danish-owned medical products company Coloplast was inaugurated in Nyírbátor (265 km east of Budapest) on May 25, marking the…

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ÁKK sells HUF 50 bln of six-week bills at auction

The Government Debt Management Agency (ÁKK) sold HUF 50.0 billion of discount six-week “liquidity” T-bills at auction on Monday, in line with the original offer….

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Balatonfüred seminar on emerging political trends

The Tihany Center for Political Analysis has announced a seminar for students entitled “Political parties, tendencies and challenges in Europe in the 21st century” from…

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External trade surplus shrunk in March

In March 2018, the export volume decreased by 3.2% and import volume by 0.5% year on year. The surplus was EUR 567 million, EUR 255…

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European commissioner calls for dropping the Stop Soros draft

The Hungarian Parliament will discuss on Tuesday the bill dubbed “Stop Soros”. The aim of the law is to defend the national sovereignty and prohibit…

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GDPR Considerations in M&A Transactions

The General Data Protection Regulation (GDPR) came into force on May 25 and introduced unified EU rules on personal data protection. Powered by WPeMatico

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Bosch Hungary revenues top HUF 1.3 tln in 2017

German engineering giant Boschʼs turnover in Hungary rose 13% to HUF 1.304 trillion last year, and it also targets double-digit revenue growth this year, the…

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Hungarian Skybaby enters energy drink market

A new Hungarian energy drink, Skybaby, will be available commercially from this month, coming in three flavors. Powered by WPeMatico

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EC to fund motorway to the Romanian border

The European Commission has announced EUR 265 million in Cohesion Fund support for the construction of a section of motorway connecting Budapest with the Romanian…

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German companies satisfied with Hungarian business environment

German companies operating in Central and Eastern Europe are satisfied with the economic situation, according to a recent study conducted by the German Chamber of…

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Hungarians spend HUF 83,000 per month

Hungarians spent on average HUF 82,900 last year. Most of this was spent on utilities and food, but expenses were higher in all categories –…

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Kalunba to organize Hungarian language classes for expats

Kalunba, an organization dedicated to providing assistance to refugees, is to organize language courses for the expat community, as its funding dwindles. Powered by WPeMatico

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Italian festival brings La Dolce Vita to Budapest

The fourth Italian Festival opened in Budapest on May 30, with events promoting a variety of products from Italy, and due to run until June…

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ÁKK sells HUF 40 bln of securities at auction, below plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 40.0 billion of securities at auction on Thursday, HUF 5 bln less than planned, state…

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Hungarian rosé wins prestigious U.S. wine award

The 2017 Sauska Rosé of Villány has been selected as “Best in Show” wine at The Rosé Competition 2018, under the auspices of the American…

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Factory gate avg. price rise slows to 2.7% y-o-y in April

Industrial producer prices were 2.7% higher in April 2018 than in the same month of the previous year. Domestic output prices increased by 3.2% on…

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Management buys out MET Group majority share

Benjámin Lakatos, the CEO of energy trader MET Group, has bought out his partners in the company to become majority owner. Lakatos had held a…

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Former MOL CEO Mosonyi passes away at 69

György Mosonyi, chairman of the supervisory board of Hungarian oil and gas company MOL, and a former CEO who oversaw a period of dynamic growth…

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Hungaryʼs Q1 investments up more than 17%

The dynamic expansion in investments that characterized 2017 has persisted into the first quarter of 2018. The volume of investments in the current quarter exceeded…

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Stock Markets and Cryptocurrencies

With current market capitalization of around USD 377 billion, Bitcoin and other cryptocurrencies cannot be ignored anymore. While institutional investors seem to have caught on…

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OECD predicts 4.4% GDP growth in Hungary this year

In its biannual Economic Outlook released on Wednesday, the Organisation for Economic Co-operation and Development (OECD) has raised its GDP growth forecasts for Hungary both…

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PropTech Already at the Doorstep of Real Estate Business

BlabDroids are tiny cute robots asking strange questions such as: “What would you do if there were no laws?” Terrible question for a lawyer, but…

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EC draft budget cuts cohesion allocation to Hungary by 20%

The European Commission is allocating cohesion funds of EUR 17.9 billion to Hungary at 2018 prices in its EU budget proposal for the period 2021-2027,…

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New measures to support the establishment and expansion of R&D centers

The Hungarian government introduced a new R&D cash incentive under its VIP cash grant system for large enterprises in 2017 in order to promote the…

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ÁKK exchanges HUF 16 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) exchanged three-year bonds maturing in 2019 and 2020 for HUF 16.0 billion of ten-year securities maturing in 2026 at…

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Hungaryʼs natural decrease slows in first quarter

In the first quarter of 2018, the number of live births was down 1.9% and the number of deaths 6% fewer than in the corresponding…

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MÁV sales revenue flat at HUF 152 bln in 2017

Net sales revenues of state-owned railway company MÁV totaled HUF 152 billion in 2017, little changed from the previous year, an annual report posted as…

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Outlays of ‘consumer-friendly’ home loans reach HUF 100 bln

The stock of Hungarian lendersʼ outlays of certified “consumer-friendly” home loans is expected to climb over HUF 100 billion by the end of May, the…

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Chinese street food market opens in Budapest

A Chinese street food market has opened in Kőbányaʼs Monori Center in District 10 of Budapest. A total of eight food stands serve an array…

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Magnus Aircraft tops out HUF 5.2 bln plant in Pécs

Hungaryʼs Magnus Aircraft topped out a HUF 5.2 billion plant it is building in Pécs (SW Hungary) on Wednesday.  The plant is expected to be…

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MNB puts all 2017 earnings into profit reserves

The National Bank of Hungary (MNB) generated HUF 38.3 billion profit in 2017, and, under the decision of its board, the full amount of the…

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Pompeo reiterates importance of ‘vibrant civil society’

Minister of Foreign Affairs and Trade Péter Szijjártó met U.S. Secretary of State Mike Pompeo in Washington on Wednesday. Statements released after the meeting indicated…

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Government softens GDPR regulation for SMEs

The government has submitted an amendment to the law on informational self-determination and freedom of information which stipulates that small and medium-sized enterprises (SMEs) would…

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French poultry processor acquires Hungaryʼs Tranzit

France’s largest poultry processor, LDC, will acquire Hungarian group Tranzit, LDC announced today. The acquisition will provide the company a production base in Hungary for…

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Hungaryʼs gov’t submits modified ‘Stop Soros’ package amidst criticism

The government submitted a modified version of a bill intended to crack down on NGOs that allegedly support illegal migration to Parliament on Wednesday. The…

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