Kategória: PORTFOLIO.HU – Online Financial Journal
It would take a brutal crisis to tame Hungary this year
The Hungarian economy should hit the break really hard so that its actual annual economic growth would not exceed current expectations considerably. Even in a…
Hungary’s construction may be facing major downturn, latest data show
After the past two record-breaking years, this year the Hungarian construction industry seems to be switching to a slightly lower gear. In the first three…
Hungarian government allocates all available EU funds, then hits the breaks
Hungarian authorities allocated no more than 57 billion forints worth of new European Union funds in April 2019, which is one of the slowest paces…
OECD to release updated estimates for Hungary this week
After a busy week, the macroeconomic calendar for the next seven days is almost totally empty. There is one meaningful event Hungary should definitely keep…
What has the EU ever done for us?
“What is Europe doing for us, concretely? Why should we vote”. This is in substance what my nieces asked me recently when discussing about the…
Are vehicle plants in Hungary at risk? – Why? It's really worth operating here!
A report by German daily newspaper Handelsblatt on Sunday caused quite a ruckus, as it said multiplying challenges are forcing luxury carmakers BMW and Daimler…
Hungary's Orbán wants to buy mid-range air defense missiles from USA
Hungary’s Prime Minister Viktor Orbán has urged U.S. President Donald Trump during his Washington visit to launch the extraction of Romanian natural gas on the…
Csányi's Bonafarm to invest over EUR 300 million in Hungary
Hungarian agribusiness Bonafarm, an interest of OTP Bank Chairman-CEO Sándor Csányi, plans to carry out efficiency-boosting and capacity expansion projects worth nearly 100 billion forints…
BMW assures Hungary factory plans unaffected by sector woes
German carmaker BMW has assured Hungary that its investment in a new factory in the eastern part of the country (Debrecen) remains on track, the…
LGBT adoption is selfish – PM's chief of staff
Gergely Gulyás, the minister leading the Prime Minister’s Office, concurred with Speaker of the National Assembly László Kövér who likened paedophiles to gay people trying…
Digitalisation, young people can bring about next overhaul of financial sector
The digital revolution has appeared in the financial sector as well, after having disrupted the media and musical industries. In order to stay competitive, employers…
Normal homosexuals do not consider themselves equal – Kövér
“Normal homosexuals” try to adapt and do not want equivalence, and there is no difference between paedophiles and gay people who demanding the right to…
Three things may force Hungarian cenbank to turn around
It would take inflation north of 4.0%, the forint to depreciate over 330 versus the euro and a steepening yield curve as more inflation premium…
U.S. plans no sanctions against Hungary's Mészáros – Ambassador
The United States does not plan sanctions against Lőrinc Mészáros, the U.S. Ambassador to Hungary David Cornstein told local broadcaster ATV late on Wednesday, denying…
Three large U.S. enterprises to expand operations in Hungary
Three large U.S. enterprises, ExxonMobil, National Instruments and Flowserve have decided to expand their operation in Hungary, announced Minister of Foreign Affairs and Trade Péter…
Hungarian economy grows faster than any other EU member state
The Hungarian economy was in a bombastic form in the first quarter of 2019, and it jumped right on top of the European Union’s growth…
U.S. prepares sanctions against Hungarian PM associates
The U.S. administration has readied sanctions against close associates of Hungary’s Prime Minister Viktor Orbán, on the basis of the Global Magnitsky Act, investigative journalism…
Expansion of Mercedes plant in Hungary suspended
The expansion of the Mercedes plant in Kecskemét, Hungary has been put on hold temporarily, local news portal index.hu learned from Daimler’s headquarters in Stuttgart,…
This is how much the Hungarian economy grew in the first quarter
Hungary’s gross domestic product grew by 5.2% year-on-year in January-March, according to figures adjusted seasonally and for working days, the Central Statistical Office (KSH) reported…
EU adopts package to reduce financial system risks
The European Union is putting in place a new framework which will strengthen the banking union and reduce risks in the financial system. The European…
German multinational firm with Hungarian operation starts layoffs
Automotive industry supplier Mahle, which also operates in Hungary, is starting a cost-cutting scheme. The fourth-largest German supplier is axing every tenth position at its…
Japanes companies mull investing hundreds of billions of forints in Hungary
An administrative state secretary of Hungary’s Ministry of Foreign Affairs and Trade has held talks with Japanese companies that plan investments worth several hundred billion…
Hungary PM “feeling nostalgic” after visiting Trump in Oval Office
Hungary’s Prime Minister Viktor Orbán called U.S. President Donald Trump a “strong and ambitious leader” in a video uploaded to his Facebook page. Donald Trump…
Hungarian PM Orbán meets U.S. President Trump in Oval Office
U.S. President Donald Trump has welcomed Hungarian Prime Minister Viktor Orbán in the White House late on Monday. Whereas Orbán was the first foreign leader…
Hungary's construction sector maintains huge momentum
The volume of Hungary’s construction output was 67.6% higher in March 2019 than in the same month of 2018. The main reason behind the shockingly…
Hungary's economic growth seen sky-high in January-March
The Hungarian economy most likely fared excellently in the first quarter of 2019. The monthly production and consumption data suggest that the country’s gross domestic…
Hungarian fund managers divided over Mol
Benchmark stock indices rose on both sides of the Atlantic Ocean. The general index of the Budapest Stock Exchange (BSE) reached a new all-time high…
German carmakers may rivisit expansion plans – paper
BMW and Daimler are forced to make some cutbacks therefore they will need to water down plans for the expansion of production in Hungary, German…
Risk of overvalued house prices rises sharply in Budapest
The Hungarian housing market continued to expand, accompanied by strong demand in 2018. House prices rose by 15.2% year on year, faster than in 2017….
Hungarian business climate index rises to all-time high
Hungarian businesses continue to have a positive assessment of the domestic business climate, according to a survey of 2,817 corporate executives by the Hungarian Chamber…
Jaws may drop on Hungary's data release on Wednesday
The key data in Hungary this week is without a doubt the Central Statistical Office’s (KSH) first-quarter GDP release due on Wednesday, and we might…
German multinational to invest nearly EUR 100 mn in Hungarian plant
Germany’s Infineon Technologies AG, a world leader in semiconductor solutions, is to invest 32 billion forints (EUR 98.9 mn) in its Cegléd-based plant in Hungary….
Slovenia's central bank green-lights Mol takeover bid for Slovnaft
The National Bank of Slovenia (NBS) has approved the voluntary public offer Hungarian fuels group Mol made to the shareholders of Slovnaft for all outstanding…
Hungary Richter profit leaps in the first quarter of 2019
Gedeon Richter, Hungary’s leading drugs producer, beat the consensus estimates of analysts polled by Portfolio both in terms of revenues and gross profit in the…
Bulgarian, Ukrainian operations drive OTP earnings higher
Hungary’s OTP Bank boosted its profit considerably in the first quarter of 2019 compared to Q1 2018. Now the bank’s books already include the numbers…
Chart reveals exceptional position of Hungary's state budget
It is difficult to see Hungary’s budget situation clearly due to the financing of projects by the European Union, but now we are shedding light…
Magyar Telekom records splendid first-quarter revenues
Magyar Telekom, Hungary’s leading telecommunications group, had a great start in 2019, as regards its revenues. It has recorded growth in every segment, driven mainly…
Hungary reports 2nd best budget balance for April
Hungary’s general government posted a surplus of 102.9 billion in April, the Finance Ministry presented its preliminary figures on Thursday. The surplus was larger than…
Is this the U-turn, or consumer prices will keep on rising in Hungary?
Hungary’s core inflation adjusted the effects of indirect taxes decelerated to 3.4% yr/yr in April from 3.5% in March, breaking a six-month ascending trend and…
OTP to report further growth in Q1 profits – analysts
Hungary’s OTP Bank is to release its earnings report for the first quarter of 2019 early on Friday. Analysts project an increase in key earnings….
Hungary records large foreign trade surplus again
Hungary’s exports in euro terms grew by 4.9% year on year, while imports increased by 5.6% in March 2019, the Central Statistical Office (KSH) reported…
Hungary's inflation accelerates further in April
Consumer prices rose 3.9% year on year in Hungary in April 2019, the Central Statistical Office (KSH) reported on Thursday. Analysts polled by Portfolio projected…
They are the richest people in Hungary
Sándor Csányi, Chairman-CEO of OTP Bank, is the richest person in Hungary with a wealth of 360 billion forints on the list of the 100…
Hungary's Richter to report impressive profit growth for Q1
Gedeon Richter, Hungary’s leading drug maker, is set to release its earnings report for the first quarter of 2019 early on Friday. The median forecast…
CO2 emissions decreased moderately in Hungary in 2018
In 2018, carbon dioxide (CO2) emissions from fossil fuel combustion significantly decreased by 2.5% in the European Union, compared with the previous year, Eurostat, the…
Poverty decreases considerably in Hungary
In 2018, 6.2 % of the population or around 31 million people in the European Union (EU) were severely materially deprived, Eurostat data showed on…
Hungary to expand further, while world economy hits the breaks
Growth in the EBRD regions is expected to slow down in 2019 and accelerate some in 2020, reflecting global economic processes, particularly the sharp slowdown…
Some EU members ask to step up climate action – leaked “non-paper”
While Hungary has just set climate targets that are less ambitious than the respective goals of the European Union, eight EU member states have launched…
Import of old cars continues to bloom in Hungary
Imports of used cars grew further in Hungary in the first quarter, and 61% of the imported vehicles were older than ten years, Das WeltAuto…
Hungary's industry remains on growth trajectory
Hungary’s industry continued its dynamic growth in March 2019 and its production rose 1% over February, according to data adjusted seasonally and for working days,…
CEU signs cooperation agreement with Technical University of Munich
Central European University (CEU) has sign an agreement with Technical University of Munich (TUM) on the cooperation between the two universities in Budapest on Tuesday….
White House confirms visit by Hungarian PM Orbán
U.S. President Donald Trump will welcome Hungarian Prime Minister Viktor Orbán at the White House on 13 May, the White House confirmed on Tuesday. The…
Erste Hungary starts 2019 with robust results
Including the payment of the bank tax for the full year, Erste Bank Hungary posted 9.4 billion forint pre-tax profit in the first quarter of…
Commission warns Hungary could hit growth ceiling
After a strong 2018, Hungary’s economic expansion appears to be running into capacity limits, while productivity gains remain modest, the European Commission said in its…
A single chart that shows how Hungarian households flee the worst
The share of variable interest rate housing loans has declined to 5% within new loans in the first quarter of 2019, central bank (MNB) data…
Hungary ÁKK chief to be EBRD Director
Hungary’s Economy Minister Mihály Varga has invited Government Debt Management Agency (ÁKK) Chief Executive Officer György Barcza to serve as member of the Board of…
Unexpected boom at housing loans, personal credit skyrocket
March proved to be an extremely strong month in terms of retail lending in Hungary, proving wrong projections for a massive slowdown at the start…
Renewable power capacity stalls for 1st time since turn of millennium
After nearly two decades of strong annual growth, renewables around the world added as much net capacity in 2018 as they did in 2017, an…
Hungary's Magyar Telekom has no problem with sales
Hungary’s leading telecommunications group, Magyar Telekom, is set to publish its earnings report for the first quarter of 2019 after the closing bell on the…
Orbán's dream? 'Team Csányi' has already done it!
OTP will buy one more bank and then rest some, Chairman-CEO Sándor Csányi has said recently, suggesting that the acquisition tour started in 2014, in…
Hungary's forint eases amidst dour global investor sentiment
Hungary’s forint kicked off the week by weakening slightly versus the euro and it remains north of 323. Moody’s could have given the HUF some…
Number of new homes up 1.5 times in Budapest in first quarter
In the first quarter of 2019, 3,661 new dwellings were built in Hungary, 7.9% more than a year earlier. The number of homes to be…
Hungary's forint eases after disappointing Moody's shrug
Hungary’s forint kicked off the week by weakening slightly versus the euro and it remains north of 323. Moody’s could have given the HUF some…
Key macro data to be released in Hungary this week
A host of macroeconomic data for March will be released in Hungary before the first-quarter GDP figure, which will draw us a pretty accurate picture…
Ranking of Hungarian brokerages shows cut-throat competition
Hungarian stocks had a swell April; the BUX index and OTP rose to new all-time highs and Richter had a nice run too. Turnover, however,…
Euro adoption not on Hungary's agenda – FinMin
On Friday, Finance Minister Mihály Varga has presented Hungary’s updated Convergence Programme submitted to the European Commission a few days ago. At a press conference,…
Euro adoption not on Hungary's agenday – FinMin
On Friday, Finance Minister Mihály Varga has presented Hungary’s updated Convergence Programme submitted to the European Commission a few days ago. At a press conference,…
What should we know about OTP's newest acquisition
In line with previously announced plans, Hungary’s OTP Bank made an acquisition in Slovenia. It has bought SKB, another Societe Generale’s operation, as the French…
Record production, new wells unable to remedy Mol’s biggest headache
Hungarian oil and gas group Mol has released its earnings report for the first quarter of 2019 on Friday. In an adverse external environment Mol…
Hungary's OTP buys fourth-largest bank in Slovenia
Hungary’s OTP Bank has announced on Friday that it is buying a bank in Slovenia. The new asset, however, is not the previously reported Abanka…
Hungary's residential real estate market in great shape
13,492 homes were sold in Hungary in April 2019, according to the latest estimate of real estate agency holding Duna House. The number of real…
Hungary's OTP to buy one more bank in Slovenia and then take five
Hungary’s OTP plans to buy one more bank in Slovenia and then hang up the gloves for a while, Chairman-CEO Sándor Csányi told news portal…
Hungary's Finance Minister to show us the next five years
Hungary’s Finance Minister Mihály Varga is to publish the updated Convergence Programme submitted to Brussels earlier this week on Friday morning. Portfolio will report live…
Hungary set to lose gas pipeline dispute with Austria
The third phase of an open season on the Hungary-Slovakia-Austria corridor failed last week, suggesting Hungary’s plan to divert the BRUA project into Slovakia is…
Uber returns to Slovakia after over a year
Uber has returned to Slovakia, but only to Bratislava for the time being. The company’s general manager for Central and Eastern European region, however, said…
Hungary's manufacturing sector on a roll despite European griefs
Hungary’s manufacturing purchasing manager index (PMI) picked up to 54.9 points in April 2019 form 52.4 in March. This kind of performance is interesting because…
It's official: Hungarian PM Orbán is expected in Washington
Hungary’s Prime Minister Viktor Orbán will meet U.S. President Donald Trump in Washington on 13 May, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó…
Budapest's Liszt Ferenc Airport is closed down
The Liszt Ferenc International Airport in Budapest has been closed down, Budflyer said on its Facebook page. The portal said a FedEx aircraft leaked hydraulic…
Donald Trump to welcome Hungary's Orbán shortly
Hungary’s Prime Minister Viktor Orbán is to meet U.S. President Donald Trump in the White House in mid-May, whistle blower website Átlátszó has learned from…
Hungary Mol seen past some torpid times
Hungarian energy group Mol is set to release its first-quarter 2019 earnings report on 3 May. Analysts project its Clean CCS EBITDA to show a…
Hungary c.bank seems to be relaxed about inflation developments
The monetary policy stance of the Hungarian central bank (MNB) will continue to be accommodative, the Monetary Council said in its post-meeting statement after leaving…
Hungary c.bank reaffirms focus on Inflaton Report, stresses cautious approach
The monetary policy stance of the Hungarian central bank (MNB) will continue to be accommodative, the Monetary Council said in its post-meeting statement after leaving…
Erste Bank Hungary to pay HUF 20 billion dividend
Erste Bank Hungary is to distribute 20 billion forints (EUR 61.94 mn) as dividend from 2018 profits, the bank’s annual general meeting has decided. Shareholders…
Opus can also benefit from Budapest-Belgrade rail link
Over the last few days, more violent swings in the share price of Opus and Konzum were caused by reports that RMI International Zrt. –…
EU-funded Irrigation development projects raise interest in Hungary
Almost a quarter of the estimated 1,000 irrigation system development projects funded by the European Union have already been awarded in Hungary, according to a…
ANALYST VIEW – Raiffeisen raises target price for Hungary's OTP
Raiffeisen has raised its target price for Hungary’s OTP, but its recommendation remains ‘Hold’. Raiffeisen has raised its target price for OTP to HUF 13,200…
Hungarian Development Bank posts after-tax profit of nearly HUF 2 bn
The Hungarian Development Bank (MFB) posted 1.906 billion after-tax profit in 2018, with total assets of 1227.993 billion, shows the bank’s annual report, according to…
Hungary Mol to raise motor fuel prices
Hungarian oil and gas group Mol is to raise the wholesale list price of 95-octane gasoline by HUF 5 per litre and that of diesel…
Hungary's OTP seen eyeing takover in Croatia again
Hungary’s OTP Bank may be interested in buying up to two more financial institutions in Croatia, local daily newspaper Jutarnji list reported on Monday. One…
Hungary's central bank is fine for now, but could face dilemma later
Considering the rhetoric curveball the Hungarian central bank (MNB) has thrown after its policy meeting in March, the Monetary Council is almost certain not to…
Almost everyone is employed in Hungary
A total of 4.497 million people worked in Hungary in the first quarter of 2019, 62,000 more than in the same period of 2018, while…
Truncated week does not mean lack of key releases
The week ahead is teaming with macroeconomic data releases, with key information scheduled for every single day. While Hungarians will have a day off on…
Mészáros revealed as winner of Budapest-Belgrade railroad tender
RM International Zrt., a holding of government-friendly billionaire Lőrinc Mészáros, will build the rail link between Budapest and Belgrade, Serbia in consortium with two Chinese…
Hungary, CEE resistant to German slump, London analysts say
The economies of EU member states in the Central and Eastern European region proved to be resistant to the effects of Germany’s slowing economic growth…
Hungary stops receiving Russian oil
Ukraine’s oil pipeline operator JSC Ukrtransnafta suspended transit shipments of Russian crude oil through the Druzhba (Friendship) main pipeline late on Thursday, saying the oil…
Hungary to do away with 'tin shed' terminal at Ferihegy airport
The Hungarian government has submitted a list of 77 demands to Budapest Airport, operator of the capital’s Ferenc Liszt International Airport (formerly known as Ferihegy),…
Hungary to promote Chinese relations in Europe
Hungary is ready to promote the development of Europe-China relations as a whole through the platform of cooperation between China and Central and Eastern European…
Strike looms at Hungarian Audi plant
German carmaker Audi is once again drifting close to a strike at its Győr-based plant in northwest Hungary, as employees are seeking a deal on…
Hungary records 3rd lowest number of live births in February
The number of births in Hungary dropped 4.7% year on year in February 2019, while there were 1.8% more deceases, according to preliminary data reported…
China's CMC mulls massive investment projects in Hungary
The China National Machinery Import & Export Corporation (CMC), specialised in the import and export of mechanical products, is to carry out energy-related investments of…
Hungarian-Chinese consortium wins mammoth Budapest-Belgrade railroad project
The tender invited for the renewal of the Budapest-Belgrade railroad has been successfully closed, the winner, a Chinese-Hungarian consortium, has been announced, and the offered…
Hungary divided – Success story can hardly continue
The number of employees grew by nearly 50,000 in Hungary last year compared to 2017. Because of the dynamic growth of the economy, corporations would…
8% yield in two years – Everything about Hungary's new retail gov't security
Hungary’s foreign currency debt is planned to be practically eliminated by 2025, Government Debt Management Agency (ÁKK) Chief Executive György Barcza told InfoRadio late on…
The taxation pitfalls of trading abroad
Thanks to the virtual mobility afforded by the internet, a growing number of people today are using online trading platforms to buy and sell foreign…
Orbán wants more Chinese capital investments in Hungary
The Belt and Road Initiative (also known as the One Belt One Road) fully matches Hungary’s national interests, said Prime Minister Viktor Orbán at a…
Hungary announces gigantic road construction scheme
The Hungarian government is to spend 3.2 trillion forints on the development of the country’s public road network by 2024. The lion’s share of the…
Price of diesel to go up in Hungary again
Hungarian oil and gas group Mol is to raise the wholesale list price of diesel by HUF 1 per litre on Friday, but the price…
Results of Hungary's 5G frequency tenders to be announced in the autumn
The results of fifth-generation (5G) spectrum sales will be announced by the National Media and Infocommunications Authority (NMHH) in the autumn, the President of the…
Corvinus University to be turned over to foundation
The legal preparatory process of the model change at the Corvinus University of Budapest has reached the home straight. “I have signed the Memorandum of…
Today is the big day for Hungary's Richter
Gedeon Richter, Hungary’s leading drugs producer, is the last of the blue chips on the Budapest Stock Exchange (BSE) to hold its annual general meeting…
Unexpected Eurostat warning could cause debt problem for Hungary
Eurostat, the statistical office of the European Union, has published government deficit and debt figures for 2018 on Tuesday. The notes to the release reveal…
Hungary puts pedal to the metal, catches up with CEE
Is the Hungarian economy skyrocketing? Or is it totally lagging behind? Well, it depends on how we look at it. In the story below, we…
Business confidence hits two-year low in Hungary
Whereas the economic sentiment index of Hungarian think tank GKI fell only slightly month on month in the first quarter of 2019, its decline in…
Post-holiday week – U.S. to reveal how its economy fared in the first quarter
A weekend elongated by Good Friday and Easter Monday is behind us, and the shortened week ahead of us does not offer a barrage of…
Vodafone Hungary Chairman György Back to retire
György Beck, Chairman of Vodafone Hungary, is to withdraw from his position upon the expiry of his mandate on 30 April 2019. Current Chief Executive…
Hungary to buy 3,000 electric buses – government official
The Hungarian government is to finance the acquisition of 3,000 electric buses in the current governing cycle, the minister leading the Prime Minister’s Office announced…
Supplier of Mercedes, BMW to start EUR 12.5 mn development in Hungary
Japan’s AGC has started to set up a new production line at its automotive glass plant in Tatabánya, Hungary. The project is to absorb over…
Future of Hungary's gas supply route becomes uncertain
The future of gas transmissions via Ukraine is uncertain therefore Hungary has signed an agreement with Gazprom to have the Russian company transmit gas Hungary…
Budapest office market en route to new peaks
The vacancy rate remains extremely low at 7.1% on the Budapest Office market. Although demand in the first quarter of 2019 dropped by more than…
New Takarékbank to be launched in Hungary on 6 May
By the merger of Mohácsi Takarék Bank Zrt., Pannon Takarék Bank Zrt., and B3 TAKARÉK Szövetkezet, the new universal large bank of Hungary’s new Takarék…