Kategória: PORTFOLIO.HU – Online Financial Journal
No systemic risk buffer requirement for banks in Hungary any longer
The National Bank of Hungary (MNB) has announced on Friday that it no longer requires CIB Bank Zrt. to maintain a systemic risk buffer as…
No overheating, no need to beef up stability of financial intermediary system in Hungary
The credit market is growing in a sound structure and at a sustainable pace; therefore, using the countercyclical capital buffer for increasing the shock absorbing…
Hungary electricity consumption sets new record
Hungary’s electricity consumption reached a new record on Thursday, according to data by Mavir Hungarian Transmission System Operator. On Friday, Mavir reported a record-breaking electricity……
Wage growth in Hungary's public sector falls behind dramatically
For the first time in a few years, Hungary’s Central Statistical Office (KSH) did not record a double-digit wage growth in the economy in April…
Hungary gov't securities creep towards historic low
The interest rate of 10-year Hungarian treasury bills has dropped more than 50bp over the last two months, largely owing to global factors. This has…
Delivery of thousands of flats delayed by a year or more
Difficulties in the construction sector and limited capacities are creating challenging conditions for developers, and the delivery of an increasing number of new homes are…
Is this the end of the wage boom in Hungary? Here are the latest figures
Real wages have not increased at such a low pace in Hungary as in April 2019 for two years. This is relating to a slight…
EU extends sanctions against Russia by six months
European Union ambassadors have officially prolonged for another six months economic sanctions imposed on Russia for its actions in Ukraine, the press service of the…
Ford to lay off 12,000 people in Europe
Ford has announced on Thursday the launch of a new business model in Europe that will come with laying off 12,000 employees by the end…
Bad news by ACEA: passenger car registrations are to decline this year
In the side-lines of its annual general meeting in Brussels on Thursday, the European Automobile Manufacturers’ Association (ACEA) revised its forecast for 2019 passenger car…
Will the Hungarian economy explode or cool down?
Hungary’s macroeconomic outlook is surrounded by both upside and downside risks, the central bank (MNB) said in its quarterly Report on Inflation on Thursday. In…
High pressure at work – Hungary cenbank publishes updated estimates
The Hungarian economy can grow by 4.3% in 2019 and by 3.3% in 2020, central bank (MNB) staff projected in the bank’s quarterly Report on…
Is Hungary really such a great success story?
It is easy to point out that economic divergences, structural characteristics and vulnerability, particularly to capital flows, can vary widely across countries and therefore that…
European Court approves Hungary's ad tax
The General Court of the European Union on Thursday annulled the Commission’s decision finding that the Hungarian advertisement tax was incompatible with the EU State…
20 million jobs to be lost worldwide in next 10 years
According to a recent study by Oxford Economics, 20 million jobs will disappear globally by 2030, with those working in manufacturing at the highest risk,…
Merging Hungarian operations of Vodafone, UPC draws closer
Vodafone plans to buy the German, Hungarian, Romanian and Czech operations of Liberty Global, which requires the approval of the European Commission. Inside sources indicate…
Risk of economy overheating is “very low” – cenbank Deputy Governor
Hungary’s economy is in a high-pressure phase with strong wage and output growth, but the risk of overheating is very low as investments are booming…
Vodafone to merge Hungarian operations with UPC
Vodafone plans to buy the German, Hungarian, Romanian and Czech operations of Liberty Global, which requires the approval of the European Commission. Inside sources indicate…
4iG wins HUF 2.7 bn gov't contract
Publicly traded IT group 4iG has won a HUF 2.7 billion public procurement contract to supply and service office IT equipment for MVMI Informatikai Zrt.,…
22,000 square metre of office space change hands on Váci Road
Warburg-HIH Invest Real Estate has acquired an LEED Platinum certified new office building in Budapest on behalf of an open-ended special AIF of an institutional…
Hungary Mol to raise fuel prices again
Hungarian oil and gas group Mol is to raise the wholesale list price of 95-octane gasoline by HUF 2 per litre and the price of…
Gender pay gap remains wide in Hungary, firms seek solution
Women remain in disadvantage to male counterparts on Europe’s labour markets, as they continue to be paid less for the same job, although any sex-based…
Hungary blocks release of GRECO corruption report
Hungary did not authorise the publishing of the annual report by the Council of Europe’s anti-corruption body GRECO, according to a Hungarian MEP. The Czech…
Hungarians still pay by cash out of habit, survey finds
Nearly half of Hungarians pay by cash out of habit, while most households have a debit card and know how to pay by card, a…
INSANT VIEW – Hungary central bank remains on the sidelines
The National Bank of Hungary (MNB) kept both the base rate and the overnight deposit rate unchanged on Tuesday, in line with market expectations. Regarding…
Europe braces for heatwave
Several European countries including France, Spain and Germany have issued public warnings regarding dangerous high temperatures as authorities seek to prevent heat-related deaths, the Financial……
Here are the long weekends in Hungary in 2020
In 2020, the only four-day weekend – apart from Christmas and Easter – will be around 20 August in Hungary, a decree published in the…
Hungary will not accept more than 15% EU budget cut, minister says
After the United Kingdom leaves the European Union, member states will have access to 11 to 15% less in EU funding during the 2021-2027 budget…
At last, some good news about Hungarians' willingness to have children
The number of live births rose 2.5% year on year in Hungary, and the number of deaths declined by 3.6% in April 2019, the Central…
“This is a very moderate tightening” – Hungary c.bank in a wait-and-see mode
Hungarian central bank (MNB) Deputy Governor Márton Nagy, and managing directors Dániel Palotai and Barnabás Virág have held an ‘expert talk’ with analysts and journalists…
Hungary cenbank raises GDP, CPI estimates
The National Bank of Hungary (MNB) has raised its GDP and inflation estimates in its quarterly Report on Inflation to be released on Thursday. The…
Here's why the Hungarian cenbank has not raised O/N depo rate further
Regarding the outlook for inflation, data to be received in the second half of the year will be decisive, the National Bank of Hungary (MNB)…
Hungary cenbank holds policy meeting
The Hungarian central bank’s (MNB) Monetary Council has on Tuesday left interest rates on hold. The MPC’s official statement coming up at 3 P.M. still…
Hungary cenbank to flood markets with information today
The meeting of the Hungarian central bank’s (MNB) Monetary Council offers much excitement today, considering that the rate-setting body needs to take a lot of…
Hungarians loyal to brands but can be tempted, Nielsen survey finds
Disloyalty levels are on the rise among the world’s consumers, with just 8% of people considering themselves to be committed loyalists when it comes to…
Hungary to reduce waste through new strategy
The goal of the new waste management strategy currently under preparation is to significantly reduce municipal waste from its current annual level of 3.8 million…
Hungarians suscribe nearly HUF 900 billion of new 'super bond'
Hungarians bought 529 billion forints worth of the new retail bond, the Hungarian Government Security Plus (MÁP+), in the first week after its launch, and…
Hungary to put off anti-money laundering deadline by four months
The government will extend the deadline for checking the identity of bank account holders by four months instead of the two the Banking Association requested….
Hungary's food industry received over HUF 300 bn of EU funds since 2014
The food industry is regarded as a strategic sector therefore the size of European Union grants received in the current fiscal cycle since 2014 has…
Suzuki takes Hungarian market by storm, has ambitious plans for 2019
The Hungarian operation of Japanese carmaker Suzuki has presented its detailed figures for 2018, which showed that 27% more Suzuki models were sold in Hungary…
Austria's AVL to set up new local HQ, R&D facility in Hungary
The foundation stone for Austrian automotive group’s new HUF 12.5 bn (EUR 39 million) headquarters and research and development centre in Hungary has been laid…
Suzuki takes Hungarian market by storm, has ambitious plans for Esztergom
The Hungarian operation of Japanese carmaker Suzuki has presented its detailed figures for 2018, which showed that 27% more Suzuki models were sold in Hungary…
Austria's AVL to set up new local HQ, R&D facility in Hungary
The foundation stone for Austrian automotive group’s new HUF 12.5 bn (EUR 39 million) headquarters and research and development centre in Hungary has been laid…
Number of home purchases rise in Budapest
About 26% more homes were sold by developers in Budapest in the spring of 2019 than in the winter of 2018/2019, according to the Budapest…
Szolnok to receive second bridge on Tisza
Vehicle traffic has multiplied in Szolnok, making the construction of a second bridge on the River Tisza justified. The Hungarian government has earmarked HUF 1.67…
OTP receives treasury shares from employee ownership organisation
OTP Bank’s Employee Stock Ownership Plan Organisation transferred 422,702 shares to OTP Bank on June 21, 2019, based on the Remuneration Policy of ESOP Organization,…
Hungary could become global biofuel powerhouse
Hungary and the Visegrád countries have substantial untapped capacity in the use of field crops and other biomass in energy generation, so much so the…
thyssenkrupp to expand operation in Hungary
German technology group thyssenkrupp is to build a camshaft manufacturing plant in Pécs, southern Hungary, with a 17.4 billion forint (EUR 53.73 mn) investment. Hungary’s…
Hungary explains hindering EU climate deal
The Hungarian government’s information centre has published an explanatory statement on Friday after playing a major role in the failure of a European Council agreement…
Hungary to build port and logistics base in Italy
Hungary is building a port and a logistics base in Trieste, Italy so that Hungarian companies exporting overseas can ship their produce rapidly and without…
Hungary cenbank to make terribly difficult call
The National Bank of Hungary (MNB) is expected to keep the base rate on hold at 0.9% at uts upcoming meeting on Tuesday (25 June),…
EU summit adopts strategy agenda 2019-2024
Leaders of EU member states adopted a new strategic agenda for the 2019-2024 period at Thursday’s summit. The agenda identifies four main priorities for EU…
World's second biggest bank comes to Hungary
The China Construction Bank, the second largest bank globally with assets worth more than USD 3,400 billion, will open a branch office in Hungary, Reuters…
EU climate summit fails to set 2050 target
As expected, there was no unanimous decision at Thursday evening’s EU summit on whether the EU should become climate neutral by 2050, Reuters reported citing…
Secrecy? It's no use. Giant citric acid factory to be built in Hungary
Preparatory works for the construction of a citric acid factory in Szolnok, a project in the making for eight years, could have already started, Hungarian…
No use of secrecy – Giant citric acid factory to be built in Hungary
Preparatory works for the construction of a citric acid factory in Szolnok, a project in the making for eight years, could have already started, Hungarian…
Wizz Air threatened with “heaviest penalty possible” by Hungarian official
A consumer protection procedure has been initiated against Hungary-based discount airline Wizz Air, the minister leading the Prime Minister’s Office told a press conference on…
Hungary cenbank to invest FX reserves in new portfolio
Following a decision by the Monetary Council of the National Bank of Hungary (MNB), a dedicated green bond portfolio within the Bank’s foreign exchange reserves…
Hungary may put off key anti-money laundering deadline – Gulyás
If banks in Hungary request it, the cabinet may postpone the deadline for identity checks, Gergely Gulyás, the minister leading the Prime Minister’s Office, told…
How sick euro area slowdown will make Hungary and CEE?
Whereas bad and worse macroeconomic releases have been piling up in Western Europe, the Central and Eastern European region shows quite a convincing resilience, without…
Hungary debt manager to take measures on liquidity shortage
The Government Debt Management Centre (ÁKK) has offered to repurchase retail government securities from banks that ended up with such a week ago, but will…
It is revealed at last how many firms struggle with Hungary's gravest problem
An article by Portfolio has altered the picture on Hungary’s labour shortage, showing that surveys can be misleading, and in fact the number of companies…
Hungary to keep record of festival-goers
It will be mandatory to keep records of the personal data of all visitors to major music festivals, according to a bill submitted by MPs…
Hungary provides 2,500 schools with broadband Wi-Fi using EU funds
Under the digital education strategy, schools will receive 51,000 laptop computers, 31,500 tablets, 5,000 projectors and 14,000 desktop computers, Bence Rétvári, state secretary at the…
Hungary's OTP beaten in race for Slovenia's Abanka
Slovenia will sell its third-largest bank Abanka to the country’s second-largest bank Nova KBM, which is owned by U.S. investment fund Apollo, state-owned Slovenian Sovereign…
Hungarian economy powerful, but we have some bad news
Hungary’s convergence to developed Western European economies continued in 2018, but in terms of consumption per capita the country fared extremely poorly. Hungary’s GDP expressed…
Hungary cenbank takes action to ease liquidity shortage
The National Bank of Hungary (MNB) has held a technical one-week foreign exchange swap tender providing forint liquidity on Wednesday. Banking sector liquidity fell temporarily,…
Construction of Croatian LNG terminal is in Hungary’s interest – minister
“The construction of the Croatian liquid natural gas (LNG) terminal on the island of Krk is in Hungary’s interests”, Minister of Foreign Affairs and Trade…
Hungary Wizz Air to buy 20 new aircraft from Airbus
Hungary-based discount airline Wizz Air has announced on Wednesday that it is to purchase 20 Airbus A321XLR aircraft. Wizz Air announced today that, as part…
Clearest warning sign in years – Labour market seen split in two
For the first time in many years, the number of vacancies has not risen in Hungary in annual terms. This is the first, albeit rather…
EU urges Hungary to step up climate efforts
As plans of European Union member states are currently falling short both in terms of renewables and energy efficiency contributions, reaching the EU’s overall climate…
Labour shortage at Lake Balaton – Half of the business may go belly-up
It is becoming increasingly difficult for businesses at Lake Balaton to recruit new staff. They claim this has to do with the fact that prices…
Moody's upgrades Hungarian banks
The bank’s Baa3 long-term and its Prime-3 short-term foreign currency deposit ratings, its Prime-2 short-term local currency deposit rating, its Baa1 long-term local and foreign…
Budapest Stock Exchange introduces itself in Shanghai
The first Hungary Investor Day was held last week in Shanghai, under a co-operation between the capital markets of Hungary and China. Richárd Végh, the…
Budapest Stock Exchange makes introduction in Shanghai
The first Hungary Investor Day was held last week in Shanghai, under a co-operation between the capital markets of Hungary and China. Richárd Végh, the…
Commission unhappy with draft energy and climate plans
As plans of European Union member states are currently falling short both in terms of renewables and energy efficiency contributions, reaching the EU’s overall climate…
Hungary absolute return funds nearly HUF 100 bn in the red in 2019
May was the first month this year when assets managed by Hungarian investment funds decreased. Absolute return funds saw the biggest fall in assets, followed…
OTP chief Csányi exercises stock option
Sándor Csányi, Chairman-CEO of Hungary’s OTP Bank has excercised a stock option under the bank’s preferential share purchase programme on Monday, OTP announced on Tuesday….
Drug makers could pay Hungary central budget HUF 100 bn in 2020
Increasing the budget of the drug fund is required but not sufficient in order to improve our position relative to other Visegrád countries, Péter Holchacker,…
Hungary to re-negotiate Paks 2 contract with Russia
Hungarian Finance Minister Mihály Varga is holding talks in Moscow to amend the financing contract of the Paks 2 nuclear power plan between Russia and…
Hungary bank branch network streamlined by 16%
380 bank branches were closed in Hungary in the 12 months up to the end of March 2019, which corresponds to a 15.9% reduction, but…
Hungarian gov't master plan unveiled – Major tax cuts may be mulled
The Hungarian government projects the best budget deficit trajectory of all times for the following years, the budget outlook for 2020 shows. The detailed figures…
Hungary's advertisement tax appears to be scrapped for good in 2020
We’ve already learned from Hungary’s Finance Minister Mihály Varga that the government will suspend the collection of the advertisement tax between 2020 and 2022, but…
Hungary online utility bill service quadruples profit
Online utility billing platform operator Díjnet Zrt. increased its profit by nearly 300% last year, with net profit of HUF 176 million compared to HUF…
Opus shareholding in 4iG drops to under 10%
Opus has announced on Monday that its voting rights in 4iG declined to 9.95% from 13.79%, previously. As a result of the termination of securities…
President-CEO buys controlling stake in Hungarian IT group
Following an agreement between tycoon Lőrinc Mészáros and Gellért Jászai, president-CEO of exchange-listed IT group 4iG Nyrt., Jászai has gained a controlling stake in the…
Budapest spas install 1,000 solar panels using EU funds
The energy modernisation of the Palatinus and Paskál spas in Budapest has been completed by the beginning of the summer season, for a combined cost…
Budapest spas install 1,000 solar panes using EU funds
The energy modernisation of the Palatinus and Paskál spas in Budapest has been completed by the beginning of the summer season, for a combined cost…
All eyes on Washington this week
The next few days will uneventful in Hungary, while there will be an abundance of central bank policy meetings abroad. Investors will keep a close…
Sunday shopping ban may return to Hungary
Retailers may voluntarily shorten their Sunday opening hours by a unified policy decision if customers are willing to accept the change, which would benefit employees…
Hungary records huge EU funds inflow in May
Hungary has paid 108 billion forints worth of EU funds to tender winners in May, which is the largest volume disbursed since December 2018. By…
China's CMC to start construction of mammoth solar park in Hungary
The China National Machinery Import & Export Corporation (CMC), specialised in the import and export of mechanical products, is to start the construction of a…
Hungary signs gas interconnection pipeline deal with Serbia
An intergovernmental agreement has been signed in Budapest on Friday about a co-operation regarding the construction and operation of a natural gas interconnection pipeline crossing…
Hungary Fidesz MP wants Pride March banned
István Boldog, deputy leader of the parliamentary group of Hungary’s ruling Fidesz party, asked his fellow MPs to “do everything to prevent the next Pride…
Hungary's OTP said to be one of the bidders for Slovenian bank
OTP Bank, Hungary’s largest lender, and investment fund Apollo have made bids for Slovenia’s Abanka, Slovenian daily newspaper Delo reported on Friday. Investment fund Apollo…
'Zombie companies' hold 150,000 employees captive in Hungary
There are still untapped reserves in the Hungarian labour market and the near future could bring major changes, guests invited to InfoRádió’s ‘Dialogue on the…
Telemedicine service launched in Hungary
The Teladoc Health group, listed on the New York stock exchange, is introducing its virtual medicine service in Hungary through its local unit, the company…
Spectacular chart shows massive gasoline displacement by plug-in cars
With the spread of plug-in vehicles, motor fuel savings have increased substantially in the last few years in the united States. According to a recent…
Tesco to stay in Hungary
At Thursday’s AGM of British retail chain Tesco, shareholders asked President John Allan whether the company would still have Eastern European operations in 2020, to…
EU aims to improve work-life balance for parents are carers
The European Council on Thursday adopted a Directive on work-life balance for parents and carers which aims to increase the participation of women in the…
European Council sets out to improve working conditions in EU
The European Council on Thursday adopted a directive which will make working conditions across the EU more transparent and predictable. The new law introduces new…
Hungary pays out HUF 360 bn in agricultural subsidies
HUF 360 billion, or 35% of the HUF 1,300 billion Regional Development Operational Programme, has already been paid out in subsidies to a total of…
Raiffeisen shareholders approve huge dividend raise
Shareholders of Raiffeisen Bank International AG (RBI) approved at the Annual General Meeting on Thursday a dividend payment of 93 eurocent per share, which marks…
Hungary transport emission plans score lowest in EU
The Hungarian government is by far showing the worst performance in the European Union when it comes to meeting plans to reduce transport emissions compared…
Look how family-friendly Hungary really is!
+36-70-3622605 Ádám Ráchel Sweden, Norway and Iceland occupy the top three places in the league table of national, family-friendly policies, Unicef reported on Thursday. All…
Hungary prepares for no-deal Brexit
A ‘no-deal’ Brexit is a real but undesired possibility, the European Commission acknowledged in its fifth Brexit Preparedness Communication published on Wednesday, taking stock of…
Hungary to allow no private students from 2020
The government of Hungary has submitted a bill to amend the national public education act, the Ministry for Human Capacities (EMMI) said in a statement….
Fintech start-up Revolut launches app in Australia
Fintech start-up Revolut has launched the Beta version of its app in Australia on Thursday, marking its first expansion outside of Europe. The company said…
NPL ratio halves in EU over the last three years
Efforts to reduce risks in the banking sector of the European Union have been fruitful, the latest European Commission data show, and the stocks of…
Hungary Mol to slash fuel prices on Friday
Hungarian oil and gas group Mol is to lower the wholesale list price of 95-octane gasoline by HUF 9 per litre and the price of…
Visegrad Four Premiers to hold extraordinary meeting in Budapest – paper
The Visegrad Four countries are to hold an extraordinary meeting for the heads of government on Thursday in Budapest. The objective of the informal meeting…
Heaven and hell: What have vehicle manufacturers gone through in Hungary?
Car and engine manufacturers in Hungary had a hard year in several regards but can be said to have weathered the storm, with the exception…
Publisher of Blikk, Glamour targeted in M&A deal
Global investment firm KKR announced on Wednesday that it will buy German publishing giant Axel Springer for EUR 6.8 billion, Bloomberg reported. KKR will offer…
Hungary sells HUF 500 bn of new super bond in a week
Hungary’s new retail government security, the Hungarian Government Security Plus (MÁP+) is popular and successful, with more than HUF 500 billion sold in a single…
Aldi to charge for single-use plastic checkout bags
Germany retail chain Aldi has announced that customers will now need to pay one eurocent per plastic bag in its stores in Germany, and that…
Hungary's digital progress in line with EU average
Hungary’s digital economy and society have developed in line with the EU average over the past few years, the European Commission said in its latest…
Hungary to lower social contribution tax from July
Hungary’s social contribution tax rate is to be lowered by two percentage points and in a related measure the simplified contribution to public revenues (ekho)…
More than 300,000 Hungarians work at Germany companies
The number of jobs created by German companies in Hungary exceeds 300,000, said the country’s Minister of Foreign Affairs and Trade on Tuesday. Péter Szijjártó…
Barely known company may become Hungary's largest oil producer
The largest oil reserve of the last thirty years have been discovered in Hungary, in the Southern Transdanubia region. After scaling up production, the investing…
Euro adoption support rises sharply in Hungary
The share of Hungarians in favour of introducing the euro has jumped seven percentage points to 66% in April 2019, the European Commission’s latest Eurobarometer…