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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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