Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian households keep savings in cash, bank account

Net lending of households was equivalent to 5.8% (HUF 2,283 bn) of quarterly GDP in the four quarters to Q2 2018 and to 6.3% (HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary public debt reaches 74.5% of GDP in Q2

Hungary’s general government consolidated gross debt stood at 74.5% of GDP at the end of the second quarter, the third quarter in a row when…

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Posted in PORTFOLIO.HU - Online Financial Journal

E.ON Hungary signs HUF 1.6 bn laptop deal with 4iG

HUMANsoft, a dully owned subsidiary of publicly traded IT group 4iG, has signed an EUR 5 mn (HUF 1.6 bn) deal to supply IT equipment…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary faces shortage of cleaners

Labour shortage in the cleaning industry, which employs upwards of 50,000 people, is at least 20%,Világgazdaság reported on Friday. Labour shortage has been a problem…

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Posted in PORTFOLIO.HU - Online Financial Journal

Property funds drive growth in Hungary investment market in July

The share of property funds in the domestic investment market grew to 20.7% in July as assets managed by investment funds in Hungary neared HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to pay extra pensions this fall if growth keeps up

Hungarian pensioners can expect a so-called pension premium if economic growth makes it possible, the Finance Ministry told state news wire MTI on Thursday. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary debt manager sells HUF 61.5 bn in bonds

Hungary’s Government Debt Management Agency (ÁKK) allotted 61.5 billion worth of government bonds at its biweekly auctions on Thursday instead of the planned HUF 50…

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Posted in PORTFOLIO.HU - Online Financial Journal

Fuel sales continue to grow in H1 in Hungary despite high prices

Sales at Hungarian fuel stations continued to grow in the first half as motorists bought 8.2% more fuel than in H1 2017, the Hungarian Petroleum…

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Corporate loan stock up 15% y/y, Hungary central bank says

Corporate lending is at a new peak as the stock of debt owed by domestic businesses grew nearly 15% over a year to the highest…

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Trade unions outraged over gov't bureaucrat axe plan

It is unacceptable for the government to announce a 15 to 20% cut in central public administration headcount without prior talks and impact studies, the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol to raise diesel prices on Friday

Hungarian oil and gas group Mol is to raise the wholesale list price of diesel fuel by HUF 3 per litre on Friday, while leaving…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol to lower diesel prices on Friday

Hungarian oil and gas group Mol is to raise the wholesale list price of diesel fuel by HUF 3 per litre on Friday, while leaving…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary external financing capacity lower in Q2

Hungaryʼs net external financing capacity – the combined surpluses of the current and capital accounts – was EUR 1.38 billion in the second quarter of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Malfunction at Hungary's Paks nuclear plant lowers output

Hungary’s Paks nuclear power plant on Tuesday said it had lowered output of one of its four blocks due to an unspecified electrical malfunctioning, according…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to ban Kaspersky from gov't computers

Hungary will ban the use of products from Kaspersky Lab, a Russian company accused of using its software to spy on U.S. government agencies, on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary households' share stock HUF 586 bn in June

The stock of shares owned by households rose 1.6% in June from the end of May to HUF 585.9 bn and was more than 44%…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to cut public administration 15 to 20%

The government of Hungary is planning to reduce headcount in the public administration from the current 14,000, with an estimated 15 to 20% of jobs…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Q2 GDP up 4.4% y/y

The performance of the Hungarian economy was 0.9% higher in the second quarter than in the first three months of 2018, the Central Statistical Office…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary central bank keeps banking system liquidity level at HUF 1.9 trillion

The National Bank of Hungary (MNB) has allotted HUF 75 billion of swaps against euros at a fine-tuning tender on Monday, keeping the total stock…

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Posted in PORTFOLIO.HU - Online Financial Journal

Investors oversubscribe Takarék CMBs at auction

Mortgage Bank Takarék Jelzálogbank (formerly FHB) sold HUF 18 bn worth of its 10-year covered mortgage bonds at today’s auction, the bank announced. Takarék, the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary leasing market soaring amidst higher interest rates

The total amount financed in the Hungarian leasing market was HUF 329 bn, up 18% from a year earlier. The Hungarian Leasing Association attributes the…

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Posted in PORTFOLIO.HU - Online Financial Journal

20% of Hungarian pensioners would work at least part-time – GKI

80% of Hungarian pensioners would not undertake income-generating activities at all, while 11% would prefer a part-time job, according to a representative survey by economic…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary June industrial production up 4.2% y/y

In June 2018, the volume of industrial output grew by 4.2% year-on-year, the Central Statistical Office (KSH) said on Monday. Based on working-day adjusted data,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Analysts expect slightly lower Q2 GDP growth in Hungary – POLL

The growth of the Hungarian economy may have begun to slow in the second quarter, but GDP growth could still have been above 4%, according…

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Posted in PORTFOLIO.HU - Online Financial Journal

Wages in Hungary healthcare sector rise 20% in a year

Wages in Hungary’s healthcare sector rose 20% over a year, Magyar Idők reported on Friday. Looking behind the numbers, we see that dynamic growth has…

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Posted in PORTFOLIO.HU - Online Financial Journal

2018 the year of fridge sales in Hungary

There is currently a boom in refrigerator sales, according to a joint market survey by economic think tank GKI and electronics retailer Euronics published on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary OTP posts record Q2 profit at HUF 91 bn

OTP Bank had consolidated after-tax profit of HUF 89.5 bn in the second quarter, its best ever quarter, the company announced at the Budapest Stock…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary construction volume up 28.2% in June

The volume of construction output was 28.2% higher in June 2018 than a year earlier based on raw data, the Central Statistical Office (KSH) said…

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Standard & Poor's, Fitch to review Hungary credit rating in August

Two major credit rating agencies may review Hungary’s rating before the end of August. A top official of the National Bank of Hungary (MNB) recently…

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Number of foreign visitors slightly down in June

In June 2018, the number of nights spent by international tourists decreased by 1% and that of nights spent by domestic tourists increased by 0.2%…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's exports jump unexpectedly in June

Hungary’s foreign trade surplus amounted to EUR 1,070 million in June, with exports at a historic high and trade in both directions growing dynamically, figures…

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Posted in PORTFOLIO.HU - Online Financial Journal

Cryptocurrency not legal tender, Hungary FinMin says

Cryptocurrencies do not qualify as legal tender, electronic cash, financial instrument, or cash equivalent, Hungary’s Finance Ministry said in a written statement sent to online…

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Hungary Magyar Telekom reports sharp rise in revenues

Magyar Telekom, Hungary’s leading telecommunications group, has reported higher-than-expected revenues and in-line EBITDA for the second quarter of 2018. Magyar Telekom published its Q2… Powered…

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Posted in PORTFOLIO.HU - Online Financial Journal

Proof that Hungary is close to a balanced budget

The Hungarian government has recently made a big deal out of pre-financing EU projects from public funds, and it has not been spending like there’s…

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Posted in PORTFOLIO.HU - Online Financial Journal

European Public Prosecutor's Office now has 22 members

Despite its initial hesitance Malta has joined the European Public Prosecutor’s Office (EPPO) as the 22nd member, the European Commission announced on Tuesday. The addition…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's much-awaited inflation data land

Consumer prices rose 3.4% year on year in Hungary in July, the Central Statistical Office (KSH) reported on Wednesday. Analysts polled by Portfolio projected 3.3%…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary accumulates massive budget deficit by the end of July

The deficit of the Hungarian budget was not outstanding (HUF 70 bn) in July, but the cumulated balance is now close to HUF 1,500 billion….

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Posted in PORTFOLIO.HU - Online Financial Journal

Will Hungary's Magyar Telekom change its dividend guidance?

Magyar Telekom, Hungary’s leading telecommunications group, is set to release its earnings report for the second quarter of 2018 on Wednesday. Analysts polled by Portfolio…

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Hungary budget deficit may overshoot target – state secretary

It would not come as a surprise if Hungary’s cash flow-based budget deficit exceeded the target at the end of the year, but that would…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank faces new test, and so does the forint

Hungary’s inflation picked up to 3.3% year on year in July from 3.1% in June, project analysts polled by Portfolio. Although fuel prices were the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Yield on Hungary's short T-bill edges closer to zero

Hungary’s Government Debt Management Agency (ÁKK) allotted 50 billion forints worth of 3-month discount Treasury Bills at its weekly auction on Tuesday, instead of the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's industry loses growth momentum

The volume of Hungary’s industrial production decreased by 1.2% month on month in June. IP was up by a modest 3.1% in annual terms, the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Budapest Stock Exchange brokerage rankings rearranged

Turnover was weak on the Budapest Stock Exchange (BSE) in July. Several brokerages saw their turnover drop to the half or the third of the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's forint gets stuck above 320 versus euro

Hungary’s forint reached its strongest level of the last 1.5 months when it crossed south of 320 last Friday and its started Monday’s session there,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's forint gest stuck above 320 versus euro

Hungary’s forint reached its strongest level of the last 1.5 months when it crossed south of 320 last Friday and its started Monday’s session there,…

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Posted in PORTFOLIO.HU - Online Financial Journal

EU+ records 15% drop in number of asylum applications in H1

The number of applications for international protection lodged in the EU+ in June 2018 registered a slight decrease compared to the previous month, and there…

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Posted in PORTFOLIO.HU - Online Financial Journal

Fuel prices to be lowered in Hungary on Wednesday

Hungarian oil and gas group Mol is to lower the wholesale list price of 95-octane gasoline by 2 forints and the price of diesel by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's rating upgrade is timely – cenbank Deputy Governor

Another credit rating upgrade is due for Hungary and it may receive it as soon as next week, central bank (MNB) Deputy Governor Márton Nagy…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's forint weakens, crosses north of 320 versus euro

Hungary’s forint reached its strongest level of the last 1.5 months when it crossed south of 320 last Friday and its started Monday’s session there,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Moody's upgrades ratings of Erste Bank Hungary

Moody’s Investors Service has upgraded Erste Bank Hungary’s ratings on Friday. Moody’s as upgraded Erste Bank Hungary’s long-term and short-term local-currency bank deposit… Powered by…

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Hungarian data release could affect forint this week

The key macroeconomic release in Hungary this week will be the July inflation data by the Central Statistical Office (KSH) on Wednesday. The CPI print…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint firms back to 320 versus euro

Hungary’s forint has opened the week south of 320 versus the euro, maintaining its strength obtained on Friday. The US dollar is on the way…

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Posted in PORTFOLIO.HU - Online Financial Journal

OTP buys banks in Bulgaria, Albania – Was it worth it?

Hungary’s OTP Bank is on the right track to see through the management’s plans. They set the goal of buying five banks in two years,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarians happy to take their earnings to the stores

Although retail sales growth in Hungary edged lower to 6.1% year on year in June from 7.7% in May, this marks only the return to…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol raises the stakes – This is how higher oil prices affected it

Hungarian fuels group Mol reported better-than-expected profit figures for the second quarter of 2018. Its Clean CCS EBITDA, the item most closely watched in the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Investors do not crush each other to buy Hungarian bonds

Hungary’s Government Debt Management Agency (ÁKK) allotted 63.5 billion worth of government bonds at its biweekly auctions on Thursday instead of the planned HUF 50…

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Posted in PORTFOLIO.HU - Online Financial Journal

An ambitious partnership with the UK after Brexit

The Brexit train has picked up speed over the last few weeks, as the British government has finally tabled its exit plan. It was, however,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Profit of Hungary's Richter takes off in Q2

Gedeon Richter, Hungary’s leading pharmaceutical manufacturer, has published higher-than-expected numbers on its key profit rows in its earnings report for the second quarter of 2018…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol enters plastics recycling business

Hungarian fuels group Mol and German recycling technology company APK have signed a strategic co-operation agreement in Merseburg on Wednesday, aspiring “to become leaders in…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary OTP Bank buys banks in Bulgaria, Albania

Rumours that surfaced on Wednesday have proven correct: Hungary’s OTP Bank has signed an agreement with Societe Generale to buy its Bulgarian assets, as well…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Richter seen reporting profit boom for Q2

Gedeon Richter, Hungary’s leading pharmaceutical producer, is set to release its earnings report for the second quarter of 2018 early on Thursday. Analysts are split…

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Posted in PORTFOLIO.HU - Online Financial Journal

It is mind-boggling what house prices do in Hungary

Residential property prices in Hungary rose by an average of 5.4% in nominal terms in the first quarter of 2018 over Q4 2017, according to…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint fumbles, adiós 320!

After meaningful appreciation on Tuesday, the forint has eased on Wednesday versus the euro, and so it drifted further from a psychological level at 320….

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Posted in PORTFOLIO.HU - Online Financial Journal

Takeover of Telenor's CEE assets concludes

PPF announced at the end of March that it is taking over the telecommunication assets of Telenor in Central and Eastern Europe, specifically in Bulgaria,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary manufacturing PMI picks up slightly in July

Hungary’s manufacturing purchasing manager index (PMI) edged up to 53.1 points in July from 52.9 in June, the Hungarian Association of Logistics, Purchasing and Inventory…

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Hungary Mol raises motor fuel prices again

Hungarian oil and gas group Mol has raised the wholesale list price of 95-octane gasoline by 5 forints and the price of diesel by HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint en route to 320 versus euro

While the question on Tuesday was whether the forint is able to cross the support at 322 versus the euro or not, while it is…

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Posted in PORTFOLIO.HU - Online Financial Journal

Reporting season kicks off in Hungary – Richter is first in line

Hungary’s listed companies are to soon start publishing their second-quarter earnings reports. Richter is the first in line early on Thursday, to be followed by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint appreciation reaches end of the road

Hungary’s forint moved to stronger levels versus the euro on Tuesday morning and crossed south of 321, which marks a 1.5-month high. Meanwhile, the euro…

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Posted in PORTFOLIO.HU - Online Financial Journal

Investors still queuing up for Hungarian treasury bills

Hungary’s Government Debt Management Agency (ÁKK) allotted 60 billion forints worth of 3-month discount Treasury Bills at its weekly auction on Tuesday instead of the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint quietly firms versus euro

Hungary’s forint moved to stronger levels versus the euro on Tuesday morning and crossed south of 321, which marks a 1.5-month high. Meanwhile, the euro…

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Posted in PORTFOLIO.HU - Online Financial Journal

BMW to build plant in Hungary with 1 billion euro investment

German carmaker BMW is to build a manufacturing plant in Debrecen, eastern Hungary, the Minister of Foreign Affairs and Trade announced on Tuesday. Here’s the…

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Hungary Mol enters public transport sector

Hungarian oil and gas group Mol has acquired a majority shareholding in busmaker ITK Holding Zrt., which is headquartered in Budapest and operates a plant…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint flirts with key level versus euro

Hungary’s forint is virtually glued to 321.6 versus the euro. It has hardly moved from there since Monday afternoon, and that is why this level…

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Posted in PORTFOLIO.HU - Online Financial Journal

Less salt in bread, more tax on tobacco – Hungarian gov't plans leaked

Hungary’s national institutions have completed the public health programmes, local daily newspaper Népszava reported on Tuesday. These will be tabled at the Ministry of Human…

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Hungary Richter gets news about flagship product Esmya

Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced on Monday that the European Commission implemented a decision concerning the marketing authorisations of Esmya, one of……

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint appreciation halted at 322 vs. euro

Hungary’s forint kicked off this week by firming against the euro and the cross is already around 322. Meanwhile, the euro starts the week close…

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Posted in PORTFOLIO.HU - Online Financial Journal

Wages for blue-collar workers take off in Hungary

Physical workers, skilled and semi-skilled employees, earned gross 1,000 forints per hour on average in Hungary in the second quarter of 2018, Trenkwalder found by…

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Is this the end of the housing boom in Hungary?

A total of 6,517 new dwellings were built in Hungary in the first half of 2018, 30% more than a year earlier. Based on issued…

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Posted in PORTFOLIO.HU - Online Financial Journal

Central banks have some fire power for this week too

Hungarian markets were keeping a close eye on the National Bank of Hungary (MNB) and the European Central Bank (ECB) last week, but it would…

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Ryanair cancels flights from Budapest

Ryanair has cancelled three of its flights flying from Budapest on the weekend without notifying passengers in advance. On Saturday, it cancelled the flights to…

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Posted in PORTFOLIO.HU - Online Financial Journal

This could cripple Hungary – Hundreds of thousands flirt with emigration

Up to 600,000 Hungarians are estimated to live abroad and almost as many of them plan to leave the country within a few years, shows…

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Posted in PORTFOLIO.HU - Online Financial Journal

Bringing VAT “back from the dead”

Companies are faced with countless situations where, for reasons beyond their control, they are unable to collect the money owed to them, including its VAT…

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Posted in PORTFOLIO.HU - Online Financial Journal

Unemployment rate hits new low, but more Hungarians seek work abroad

The rate of unemployment dropped to 3.6% in Hungary, while the employment rate reached the magic 60% in the 15-74 age group. The Q2 employment…

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Days of the European Commission are numbered – Orbán

The days of the European Commission are numbered, its mandate expires next May, said Hungary’s Prime Minister Viktor Orbán in an interview with public radio…

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Weak forint is no help “when you have to go out in the sun” – Varga

Two ministers of Hungarian Prime Minister Viktor Orbán’s cabinet have slammed the weak competitiveness of local corporates in their presentation in Tusnádfürdő (Baile Tusnad, Romania)…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol to report drop in Q2 profits – analysts

Hungarian fuels group Mol is set to release its earnings report for the second-quarter of 2018 next Friday (3 Auugust). According to analysts’ consensus estimate,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Speculators beat up Hungary's forint, and they remain ready to rumble

While July has brought some serenity into the life of Hungary’s forint, there are still major short HUF positions on the market: about 800 billion…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary 12-month T-bills scooped up at auction

Hungary’s Government Debt Management Agency (ÁKK) allotted HUF 45 billion worth of 12-month discount Treasury Bills at its biweekly auction on Thursday, instead of the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's latest birth stats disappoint

7,060 children were born in Hungary in May, 566 or 7.4% fewer than in the same month of 2017, the Central Statistical Office (KSH) reported…

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Do you use GPS on your smart phone? Prepare for huge changes!

Four more Galileo satellites were successfully launched on Wednesday. Now with a constellation of 26 satellites, the EU’s global satellite navigation system will provide a…

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Posted in PORTFOLIO.HU - Online Financial Journal

HUF corrects back to 325 versus euro – Which way will it go from here?

Hungary’s forint starts the day at around 325 versus the euro on Thursday, slightly firmer than its closing level on Wednesday. Turkey’s lira depreciated against…

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Posted in PORTFOLIO.HU - Online Financial Journal

INSTANT VIEW – Monetary conditions remain unchanged in Hungary

In line with the market consensus, the Monetary Council of Hungary’s central bank did not modify interest rates, leaving on hold the base rate (0.9%),…

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Hungary Mol to raise fuel prices after series of cuts

Hungarian oil and gas group Mol is to raise the wholesale list price of 95-octane gasoline and diesel by HUF 3 per litre on Friday….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Wizz Air modernises fleet with new aircraft

For the first time ever, the fleet of Hungarian low-cost carrier Wizz Air counts more than 102 aircraft. This was the end-Q1 reading, but by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Wizz Air complains about strikes and rising fuel prices

Hungary-based low-cost airline Wizz Air has reported growth again for the first quarter of FY2019. Revenues were up by one fifth, as the carrier expanded…

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Posted in PORTFOLIO.HU - Online Financial Journal

Should Hungary sack 100,000 employees from the public sector?

Employers in Hungary continue to believe that 100,000 people should be let go from the public sector in order to ease the shortage of labour….

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Posted in PORTFOLIO.HU - Online Financial Journal

Ryanair cancels Budapest-Barcelona flight amid its biggest ever strike

Ryanair has cancelled its flight between Budapest and Barcelona on Wednesday evening. The Irish discount carrier has announced earlier that it was gearing up for…

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Mol, MFB, Eximbank launch new capital funds Hungary

Hungarian private equity firm Lead Ventures is looking to invest 100 million euros in the next five years to support the growth of game-changing companies…

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Unprecedented EU decision prevents Hungary from losing more funds

It is important to recognise that the European Commission has taken an unprecedented measure to limit financial losses for member states and without these Hungary…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary c.bank provides rationale for rate decision

The Monetary Council of the Hungarian central bank (MNB) said it would ensure the maintenance of loose monetary conditions by using the current set of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank holds policy meeting, forint hardly reacts

Investors will be watching Hungary’s central bank (MNB) closely today. The million dollar question for the monthly policy meeting is whether or not the rate-setters…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian central bank keeps rates on hold as expected

As expected, the Monetary Council of the National Bank of Hungary (MNB) has not changed either its “benchmark” policy rate (0.9%), or the overnight deposit…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to raise CSOK in smaller settlements

Hungary will raise the CSOK grant ((Family Housing Allowance Programme) in settlements with fewer than 5,000 inhabitants, the minister leading the Prime Minister’s Office announced…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary state railway co. to do away with sh*tty situation by 2035

Hungary’s state-run railway company MÁV has 2,260 passenger trains with 175,000 seats. Their average age is 35 years, but some are older than 50, the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Will Hungary's cenbank push HUF towards 320 or 330 today?

Investors will be watching Hungary’s central bank (MNB) closely today. The million dollar question for the monthly policy meeting is whether or not the rate-setters…

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – Hungary OTP seen reporting record profit

Hungary’s OTP Bank is to report exceptionally high 84 billion profit for the second quarter of 2018, HSBC projected on Monday. A quarterly profit of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank ahead of important decision, forint impact possible

Although the National Bank of Hungary (MNB) managed to get through the end-June plummet of the forint without jettisoning its stance and throwing in the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint eases to over 326 vs. euro

Hungary’s forint kicks off the week north of 325 versus the euro, after it recovered on Friday from around 327. The US dollar has failed…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary economic sentiment index rises to new all-time high in July

After its historic peak in June, the economic sentiment index of Hungarian think tank GKI rose further in July. According to an empirical survey conducted…

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Posted in PORTFOLIO.HU - Online Financial Journal

Eyes on Matolcsy and Draghi this week

The most important (scheduled) events this week will be two central bank meetings. In Hungary, the key event is the MNB policy meeting on Tuesday….

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – HSBC lowers target price for Hungary's OTP

HSBC has lowered its target price for Hungary’s OTP, but the new TP is still a lot higher than the banking paper’s current share price….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint starts week north of 325 vs. euro even after Friday gains

Hungary’s forint kicks off the week north of 325 versus the euro, after it recovered on Friday from around 327. The US dollar has failed…

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Posted in PORTFOLIO.HU - Online Financial Journal

Business linked to PM ally Mészáros wins EUR 180 mn procurement

R-Kord Ltd., a company linked to Lőrinc Mészáros, a gas-fitter turned billionaire and a key ally of Prime Minister Viktor Orbán, won a procurement procedure…

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EU grants major funding for railway development around Lake Balaton

The European Commission has decided on supporting a fifth major transport development project of Hungary on Friday. The EU executive announced that 193 million euros…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint firming fizzles out at 326 vs. euro

Hungary’s forint eased to 327 versus the euro on late on Thursday and a new all-time low is merely a step away from there. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint slumps to 327 vs. euro – Will it be able to recover?

Hungary’s forint eased to 327 versus the euro on late on Thursday and a new all-time low is merely a step away from there. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary FinMin talks forint weakening: More sensitive period ahead

The calm period that kept Hungary’s forint between 305 and 315 versus the euro has come to an end, said Finance Minister Mihály Varga. A…

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Posted in PORTFOLIO.HU - Online Financial Journal

Inflation skims more and more off Hungarian wage increase

Average gross earnings in Hungary rose by 10.9% year on year in May 2018, the Central Statistical Office (KSH) reported on Friday. Wages in the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to be hit the hardest by US-EU trade war – analyst

The crucial role of the auto industry plays in the Hungarian economy and the country’s deep integration in the European Union automotive value chain would…

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