Posted in PORTFOLIO.HU - Online Financial Journal

INSTANT VIEW – Hungary cenbank leaves door wide open for tightening

In line with the market consensus, the Monetary Council of the National Bank of Hungary has not modified either its main policy rate or the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Matolcsy secures parliamentary backing for 2nd term at helm of c.bank

György Matolcsy has won support by Parliament’s Economic Committee on Tuesday for his second six-year term at the helm of Hungary’s central bank (MNB). At…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary c.bank pledges to keep watching inflation like a hawk

After leaving monetary conditions on hold on Tuesday, the Monetary Council of the National Bank of Hungary (MNB) has reiterated almost verbatim its official statement…

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Siemens joins large petchem project of Hungary's Mol

Siemens will be supplying seven modular power distribution substations for the new chemical complex of Hungarian fuels group Mol, after it received one of its…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary central bank delivers rate decision

In line with the market’s call, the Monetary Council of Hungary’s central bank (MNB) has not changed interest rates at its monthly policy meeting on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's population shows fastest decline in this millennium

As a result of the number of live births and deaths, Hungary’s population shrank by 41,300 people in 2018, the Central Statistical Office (KSH) reported…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's population shows fastest decline in this millenium

As a result of the number of live births and deaths, Hungary’s population shrank by 41,300 people in 2018, the Central Statistical Office (KSH) reported…

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Posted in PORTFOLIO.HU - Online Financial Journal

Merrill Lynch to be no more

Bank of America Corp. will drop the 104-year old name Merrill Lynch from its investment-bank brand, while keeping the name Merrill for wealth management, as…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to create rules against corporate tax evasion

The Hungarian government plans to work out regulations that will prevent multinational companies from escaping public burdens, a state secretary in charge of tax issues…

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Posted in PORTFOLIO.HU - Online Financial Journal

BKV's reported wage hike “pathetically small” – trade union

The United Transportation Trade Union (EKSZ) finds the planned 5% wage hike at the Budapest Transport Company (BKV) enfuriatingly small. EKSZ President Gábor Naszályi responded…

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Posted in PORTFOLIO.HU - Online Financial Journal

Bad news for motorists: fuel prices to be raised again in Hungary

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…

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Posted in PORTFOLIO.HU - Online Financial Journal

Fitch upgrades Hungary to 'BBB'

Fitch Ratings has upgraded Hungary’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘BBB’ from ‘BBB-. The outlook is stable. The second upgrade within a…

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Posted in PORTFOLIO.HU - Online Financial Journal

Final countdown begins: Hungary c.bank to do an about-face

After it turned out two weeks ago that tax-adjusted core inflation, a key metric of the National Bank of Hungary (MNB), reached the critical level…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank chief will have a busy day on Tuesday

Although the central bank’s (MNB) policy meeting on Tuesday is unlikely to bring much excitement, MNB Governor György Matolcsy will make his appearance not only…

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Posted in PORTFOLIO.HU - Online Financial Journal

What is Romania's No.1 private medical firm up to after Hungarian takeover?

A special transaction has been carried out recently on Hungary’s private medical services market. MedLife, which is listed on the Romanian stock market, acquired a…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary central bank chief to attend nomination hearing next Tuesday

National Bank of Hungary (MNB) Governor Gyögy Matolcsy will attend a nomination hearing in Parliament’s Economic Affairs Committee next Tuesday (26 February) at 9 A.M.,…

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Multiyear record in oil and gas production propels Hungary's Mol

Hungarian oil and gas group Mol has published its earnings report for the fourth quarter of 2018 along with its full-year results on Friday. In…

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Posted in PORTFOLIO.HU - Online Financial Journal

Lufthansa lands EUR 135 million investment in Hungary

Lufthansa Technik AG, member of Germany’s Lufthansa Group, has initiated the establishment of a new site for the repair and overhaul of aircraft engine parts…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian Mercedes plant begins manufacture of new CLA model

The Mercedes-Benz factory in Kecskemét will remain the cradle of the company’s CLA model: following the success of the CLA Coupé introduced in 2013, the…

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Continental opens AI development centre in Budapest

Germany’s Continental has opened its first artificial intelligence development centre in Budapest on Thursday. The company chose Hungary because of its existing car industry environment….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to offer new interest-free loan without credit check

The Hungarian government’s new childbirth incentive loan, HUF 10 million available to newlywed couples, will not be tied to income and will be offered to…

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Posted in PORTFOLIO.HU - Online Financial Journal

Demand still hot for Hungarian T-Bills

Hungary’s Government Debt Management Agency (ÁKK) allotted HUF 30 billion worth of 12-month discount Treasury Bills at its biweekly auction on Thursday, and it raised…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's Rába hit hard by steel and energy prices in Q4

Publicly traded vehicle manufacturer Rába managed to increase its revenue 7.2% yr/yr to HUF 13.9 billion in Q4 2018, but steeply rising raw material and…

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Posted in PORTFOLIO.HU - Online Financial Journal

Wages grow 11.3% in Hungary in 2018

Wages in Hungary rose further in December, with annual growth coming to 11.3%, the Central Statistical Office (KSH) said on Thursday. Real wages rose 8.3%…

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Hungary's Magyar Telekom to pay higher dividend

The management of Hungarian telco Magyar Telekom recommends paying a higher dividend on last year’s profit after the company performed above expectations in Q4 2018,…

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Posted in PORTFOLIO.HU - Online Financial Journal

A few more days and Hungary may celebrate again

After Standard & Poor’s upgraded Hungary’s sovereign credit ratings last week, Fitch Ratings’ decision will come this Friday (22 February). Analysts at ING see a…

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Posted in PORTFOLIO.HU - Online Financial Journal

Infertile couples may be exempted from interest on Hungary's new loan

Hungary’s Ministry of Human Capacities has shared on Wednesday new bits of information about a HUF 10 million loan facility newlyweds planning to have children…

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Posted in PORTFOLIO.HU - Online Financial Journal

Tesla to open store in Budapest

When Hungary’s Prime Minister Viktor Orbán announced during his state of the nation address on 10 February that a 2.5 million forint subsidy will be…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to raise yield on short-term gov't securities

The yield is to be raised to 2.5% from 2.0% on Hungary’s Half-yearly Government Bond and to 3.0% from 2.5% on the 12-month Government Bond,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary launches new anti-Brussels, anti-Soros campaign

Hungarian Prime Minister Viktor Orbán’s government has launched yet another taxpayer-funded campaign earlier this week, accusing Brussels of promoting migration plans that “threaten… Powered by…

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Hungary Mol raises fuel prices

Hungarian oil and gas group Mol has raised the wholesale list price of 95-octane gasoline and diesel by HUF 5 per litre each on Wednesday….

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Posted in PORTFOLIO.HU - Online Financial Journal

S&P upgrades Hungary's OTP Bank, as well

Following an upgrade of sovereign ratings on Hungary to ‘BBB’ on 15 February, Standard and Poor’s has raised its long-term and short-term resolution counterparty ratings…

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Posted in PORTFOLIO.HU - Online Financial Journal

Orbán's 'family protection' scheme unlikely to stop demographic decline

The major demographic support package announced by Hungary’s Prime Minister Viktor Orbán on 10 February is unlikely to stop Hungary’s demographic decline, but the measures…

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Posted in PORTFOLIO.HU - Online Financial Journal

10 things we know about Orbáns demographic scheme and 10 we don't

The most promising element of Hungarian Prime Minister Viktor Orbán’s 7-point ‘family protection action plan’ is a 10 million forint interest-free loan that young couples…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary is still facing serious risks even after upgrade – S&P

Although Standard & Poor’s upgraded Hungary’s credit ratings last Friday, risks to the economy remain and these would need to be managed by additional measures,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary is stil facing serious risks even after upgrade – S&P

Although Standard & Poor’s upgraded Hungary’s credit ratings last Friday, risks to the economy remain and these would need to be managed by additional measures,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Short Hungarian T-bills bought at nearly 0% again

Hungary’s Government Debt Management Agency (ÁKK) allotted HUF 25 billion worth of 3-month discount Treasury Bills at its weekly auction on Tuesday. The average yield…

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Posted in PORTFOLIO.HU - Online Financial Journal

Thrilling days await Hungary's Magyar Telekom

Magyar Telekom is set to release its earnings report for the fourth quarter of 2018 on Wednesday, and management will hold a presentation for investors…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary FinMin sets launch date for economic protection action plan

Hungary’s economic stimulus package could be ready by the end of March or early April, Finance Minister Mihály Varga told InfoRadio late on Monday. They…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol seen exceeding annual goal despite oil price plunge

Hungarian oil and gas group Mol is set to release its earnings report for the fourth quarter of 2018 on 22 February. Analysts polled by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian Postal Services to sack hundreds of people

The Hungarian Postal Services (Magyar Posta) has agreed with the works council to carry out another mass layoff of about 300 employees in the spring…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary FinMin reveals two details from upcoming stimulus package

The Hungarian government is expected to present its economic protection programme in March or April at the latest. It will contain long-term measures rather than…

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Posted in PORTFOLIO.HU - Online Financial Journal

We'll find out this week how much Hungarians earned in 2018

The release of Hungary’s GDP data for the fourth quarter of 2018 last week will be followed by a series of other important figures both…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary delivers greater victory than hoped for

Hungary’s gross general government debt declined more than expected and was 70.9% of gross domestic product at the end of 2018, preliminary financial accounts data…

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – HUF 15,000 target price for OTP lands

J.P. Morgan has raised its target price for Hungary’s OTP. The new TP offers a 32% upside potential over the banking stock’s last closing price…

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Posted in PORTFOLIO.HU - Online Financial Journal

S&P upgrades Hungary's credit rating

Standard & Poor’s Global Ratings raised its long- and short-term foreign and local currency sovereign credit ratings on Hungary to ‘BBB/A-2’ from ‘BBB-/A-3’. The outlook…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to table yet another key measure in April – state secretary

Although remarks by Hungary’s Prime Minister Viktor Orbán and Finance Minister Mihály Varga earlier this week suggested that the cabinet has given up the target…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian businessman buys local McDonald's operation

McDonald’s Corporation has announced on Friday that a share sale and purchase agreement has been signed with Sándor Scheer, a partner keen to become the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol denies wage talk flop

Hungarian oil and gas group Mol has partly rejected a press report that trade unions have not accepted the management’s wage hike proposal for 2019…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol rejects wage talk flop

Hungarian oil and gas group Mol has partly rejected a press report that trade unions have not accepted the management’s wage hike proposal for 2019…

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Posted in PORTFOLIO.HU - Online Financial Journal

Trade unions reject wage hike offer by Hungary's Mol

Trade unions have said no to the wage hike proposal of Hungarian fuel group Mol for 2019 and 2020, about which they have informed the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Audi and E.ON build Europe's largest PV roof system in Hungary

The Hungarian arm of German carmaker Audi and German power company E.ON are together constructing Europe’s largest photovoltaic roof system on the building of Audi…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary automotive sector on the brink of historic achievement

As a result of the already scheduled and planned developments, the annual output of Hungary’s automotive industry can soon reach 10,000 billion forints, said the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Waberer's signs key deal, receives EUR 2.5 million

Hungarian hauler Waberer’s International Nyrt. has announced that it has signed a settlement agreement with the former owner of Link and Link Services that kept…

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Posted in PORTFOLIO.HU - Online Financial Journal

BlackRock signs co-operation agreement with Corvinus University of Budapest

Budapest’s Corvinus University signed a co-operation agreement with the local innovation and technology centre of the world’s largest asset manager, the American BlackRock. Co-operation… Powered…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary stellar economic performance propels it to top of EU rankings

Hungary’s economy was on fire in the fourth quarter of 2018, and with that it landed in the top three of the European Union growth…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary may receive huge 'award' shortly

The first of the large rating agencies to review Hungary this year is Standard & Poor’s. You might want to keep your eyes peeled on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Strike ends at Tesco, wage hike agreement reached

A strike by the staff of the payroll and accounting department of retail chain Tesco in Győr (northwest Hungary) has come to an end, as…

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Posted in PORTFOLIO.HU - Online Financial Journal

Another strike starts in Hungary

Workers at the Miskolc-based (northeast Hungary) plant of SEGA Hungary Ltd., some 2,500 of them, started an open-ended strike on Wednesday afternoon, local daily newspaper…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's latest GDP data delivers another surprise

Hungary’s gross domestic product grew by 4.8% year on year in the fourth quarter of 2018, according to data adjusted seasonally and for working days….

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Posted in PORTFOLIO.HU - Online Financial Journal

OTP seen profiting greatly from Hungary's monetary tightening

Hungary’s OTP Bank is the top pick for Morgan Stanley in Central and Eastern Europe, as its economist expects significant tightening of Hungarian interbank rates…

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Posted in PORTFOLIO.HU - Online Financial Journal

Was Hungary able to break its own multi-decade growth record?

According to the consensus estimate of analysts polled by Portfolio, the Central Statistical Office (KSH) will report 4.5% (unadjusted) year-on-year GDP growth for the fourth…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's construction sector loses momentum by end-2018

The momentum of Hungary’s construction sector has abated slightly in December 2018, the volume of construction output dropped 2.4% month on month. Yet, last year…

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Hungary national e-ticket system to be functional by 2020

A uniform electronic ticket system in interurban passenger transport could be up and running nationwide in Hungary by the summer of 2020, the Ministry of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank could tighten monetary conditions as early as March

Hungary’s January headline CPI was stable at 2.7% year on year, but this masked an underlying uptrend. The downside came mainly from non-core items, while…

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Hungary's OTP among UBS top picks

Investors thinking about betting in emerging markets should look at Brazilian stocks, Mexican bonds and banks in the space, strategists and analysts told CNBC. Brazilian…

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PayPal launches free money transfer in Hungary

Global online payments system operator PayPal is launching a free money transfer service in Hungary, and Hungarians will be able to send euro and Swedish…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's demographic program could lock deficit above 2% after 2020

Better-than-expected revenues will keep Hungary’s public balance on track this year, but the uptake from the demographic program could lock the deficit above 2% after…

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Posted in PORTFOLIO.HU - Online Financial Journal

Sobering news: only new moms will be eligible for special credit

Hungary’s new 10 million forint interest-free loan may be taken out only by married women under 40 years of age who give birth within three…

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Posted in PORTFOLIO.HU - Online Financial Journal

György Matolcsy to remain governor of Hungary's central bank

Hungary’s Prime Minister Viktor Orbán plans to propose to President János Áder the nomination of György Matolcsy as Governor of the National Bank of Hungary…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary inflation reaches critical level, c.bank needs to move shortly

Whereas Hungary’s headline inflation remained flat at 2.7% year on year in January 2019, the central bank’s (MNB) measures of underlying inflation developments suggest that…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary January CPI flat, but there's a surprise

Consumer prices in Hungary rose by 2.7% year on year in January 2019, the Central Statistical Office (KSH) reported on Tuesday. This matches the consensus…

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Posted in PORTFOLIO.HU - Online Financial Journal

Digitalisation: Hungary stands out in Central and Eastern Europe

For most companies in Central and Eastern Europe, Digital Transformation spells growth, but Hungarian firms are even more optimistic than the average. According to two…

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Posted in PORTFOLIO.HU - Online Financial Journal

Wage agreement reached at Hungarian plant of Bosch

A one-year wage agreement has been reached between the employees and the management of the Robert Bosch plant in Hatvan (60 km east of Budapest)….

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Posted in PORTFOLIO.HU - Online Financial Journal

Fuel prices to be raised in Hungary

Hungarian oil and gas group Mol is to raise the wholesale list price of 95-octane gasoline and diesel by HUF 2 per litre each on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Here's the list of cars Hungarians may buy with major state subsidy

In his State of the Nation address on Sunday, Hungary’s Prime Minister Viktor Orbán promised a non-refundable subsidy of up to 2.5 million forints for…

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Posted in PORTFOLIO.HU - Online Financial Journal

5 sensational surprises about Orbán's new action plan

Hungary’s Prime Minister Viktor Orbán only outlined the government’s new family protection action plan on Sunday, while today state secretary Katalin Novák has shed light…

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Posted in PORTFOLIO.HU - Online Financial Journal

Orbán's new scheme to move fortunes – Who will benefit?

Hungary’s Prime Minister Viktor Orbán has announced a major demographic programme aimed at incentivising couples to have children, families to have more children, i.e. at…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's Orbán announces major scheme to boost population

Hungary’s Prime Minister Viktor Orbán has announced a major demographic programme aimed at incentivising families to have children and at boosting the country’s population. Women…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary will lay its cards on the table at last

Fourth-quarter GDP figures will be in focus this week without a doubt. The first growth estimates for October-December 2018 are coming out in Europe, including…

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Posted in PORTFOLIO.HU - Online Financial Journal

Critical data to be released in Hungary, c.bank is on pins and needles

The first inflation reading of the year is to be released next week. It could be crucial from the point of view that it might…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian fund managers find new top pick

The first months of 2019 was bustling for capital markets, and as stock market indices overseas rose the Budapest Stock Exchange (BSE) also kicked off…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary posts largest budget surplus of the last 20 years

Hungary’s Finance Ministry has released budget figures for January 2019 at an unusual time and form on Friday. The reason why it decided to deliver…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's foreign trade surplus erodes further

Hungary’s exports increased by 2.7% in euro terms and imports grew by 5.4% year on year in December 2018, the Central Statistical Office (KSH) reported…

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Posted in PORTFOLIO.HU - Online Financial Journal

Common e-ticket system for MÁV, Volán, BKK – Budapest mayor

If the Centre for Budapest Transport (BKK) does not contract for the new electronic ticket system, chances are high that the BKK will be abolished,…

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Posted in PORTFOLIO.HU - Online Financial Journal

UniCredit has smashing year-end, profit beats expectations

UniCredit posted 1.73 billion euro after-tax profit in the fourth quarter of 2018, greatly beating expectations. The Italian banking group’s Hungarian arm had EUR 177…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary has no problem selling government securities

Hungary’s Government Debt Management Agency (ÁKK) allotted 30 billion forints worth of 12-month discount Treasury Bills at its biweekly auction on Thursday, and it raised…

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Posted in PORTFOLIO.HU - Online Financial Journal

Demand for diesel cars plunges, electric cars increasingly popular in EU

In the fourth quarter of 2018, the share of diesel-fuelled cars declined in the European Union, while petrol and electric continued to further expand their…

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Posted in PORTFOLIO.HU - Online Financial Journal

EU sees much slower growth in Hungary in 2019 than cabinet

Whereas the European Commission retained its upwardly revised (Nov18) 2019 GDP growth estimate for Hungary (to 3.4% from 3.2% previously), the new projection is still…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's industry fares surprisingly well

The volume of Hungary’s industrial production rose 2.5% month on month in December 2018, the Central Statistical Office (KSH) reported on Thursday. The zigzags of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Details leaked about Hungarian PM Orbán's upcoming address

In line with Finance Minister Mihály Varga’s weekend remarks (“economic protection scheme”), Hungary’s Prime Minister Viktor Orbán is expected to announce economic stimulus measures… Powered…

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Hungary Richter quarterly profit plummets

Beating the market’s call, revenues of Hungarian drugs maker Richter rose to a new quarterly high in October-December 2018, as both domestic and U.S. sales…

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Posted in PORTFOLIO.HU - Online Financial Journal

Reporting season to kick off in Hungary – What to expect?

The reporting season is in full swing around the world, and Hungary’s listed companies are also going to start releasing their earnings reports for October-December…

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Fuel prices to be raised in Hungary on Friday

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

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Posted in PORTFOLIO.HU - Online Financial Journal

Yet another strike in Hungary's automotive sector

The National Trade Union of Employees Designed for Life (ÉTMOSz) has announced a two-our strike to be held at the Miskolc-based (northeast Hungary) plant of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Bosch learns from strike at Audi Hungaria, nods on union demands

A wage agreement has been reached at the Hungarian plant of German automotive supplier Bosch in Hatvan (some 60 km east of Budapest), and its…

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Posted in PORTFOLIO.HU - Online Financial Journal

Raiffeisen 2018 profit disappoints, bank to pay higher dividend

Raiffeisen Bank International (RBI) has published its preliminary results for 2018, reporting after-tax profit of 1.27 billion euros. Although the management of the Austrian banking…

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Posted in PORTFOLIO.HU - Online Financial Journal

Strike begins at Tesco Hungary

More than 17,5000 employees of Tesco Hungary are expected not to receive their January salary on time because the remuneration section of the closure-slated Győr-based…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's OTP buys bank in Moldova

Moldovan press reports were right: Hungary’s OTP Bank has announced on Wednesday that it has acquired a majority stake in the country’s fourth-largest bank, Mobiasbanca,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Yield on Hungary's short T-bill almost drops to zero again

Hungary’s Government Debt Management Agency (ÁKK) allotted HUF 25 billion worth of 3-month discount Treasury Bills at its weekly auction on Tuesday, at a lower…

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Posted in PORTFOLIO.HU - Online Financial Journal

Tesco to eliminate non-recyclable packaging also in Hungary

Tesco is taking another step towards environmentally friendly operation. It has announced that it has committed to making all packaging fully recyclable or compostable by…

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Posted in PORTFOLIO.HU - Online Financial Journal

International Investment Bank to move headquarters to Budapest

An agreement has been signed on Tuesday between the International Investment Bank (IIB) and the Hungarian government on moving the headquarters of IIB to Budapest….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary receives unprecedented threat from Germany

Hungary’s hardline government was the only European Union member state that disrupted preparations for the first summit between the bloc and the League of Arab…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary, Slovenia jointly apply for EU funding for gas pipeline interconnection

Hungary and Slovenia are jointly applying for European Union funding for the interconnection of their natural gas pipeline networks, which would enable Hungary to purchase…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary ordered to pay Sodexo about EUR 73 million

The Hungarian state has been ordered by an arbitration court to pay Sodexo an award of about 73 million euros for forcing the vouchers company…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarians did not go on pre-Christmas shopping spree apparently

The growth in Hungary’s retail sales continued to decelerate in December 2018. The volume of sales in retail shops increased by 4.1% year on year,…

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Posted in PORTFOLIO.HU - Online Financial Journal

One-week strike in Hungary causes major loss for Audi

More than ten thousand cars were never made in Audi AG’s central manufacturing plant in Ingolstadt, Germany due to the one-week strike held at the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Change in the executive management of Hungary's Richter

Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced on Tuesday that from 5 February, CEO Gábor Orbán will act as chief of technical services, until…

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Hungarian new car market seen soaring in 2019

On the basis of the state of the economy, the Association of Hungarian Vehicle Importers (MGE) expects around 160,000 new passenger cars to be registered…

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Will Budapest Bank be sold to a foreign investor?

Although Erste and KBC had both expressed interest in buying Budapest Bank from the Hungarian state, it is unlikely that Prime Minister Viktor Orbán’s cabinet…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary c.bank chief: Hungary will adopt the euro

Hungary will join the euro area -eventually, sometime in the next few decades, said György Matolcsy, Governor of the National Bank of Hungary (MNB) at…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's OTP seen entering a new market

Hungary’s OTP Bank may acquire a majority stake in Moldova’s Mobiasbanca, member of Societe Generale Group, according to Moldovan press reports. OTP’s management is expected…

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Posted in PORTFOLIO.HU - Online Financial Journal

We'll soon have the full picutre on how Hungary fared in 2018

We’ll have to wait a few more days for Hungary’s fourth-quarter (2018) GDP data, but some statistical releases for December are already in the pipeline…

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Posted in PORTFOLIO.HU - Online Financial Journal

We'll soon have the full picutre of how Hungary fared in 2018

We’ll have to wait a few more days for Hungary’s fourth-quarter (2018) GDP data, but some statistical releases for December are already in the pipeline…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Richter signs license and supply deal

Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced on Monday that it has inked a license and supply deal with Pantarhei Bioscience BV to commercialise…

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Posted in PORTFOLIO.HU - Online Financial Journal

Cut-throat competition for first place among Hungarian brokerages

After some turbulence at the end of 2018, stock markets in developed economies started to rise slowly at the start of 2019, and the BUX…

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Posted in PORTFOLIO.HU - Online Financial Journal

Noerr has advised AEW Europe on acquisition financing of retail unit Luxus Aruhaz in Budapest

Noerr has advised AEW Europe on the acquisition financing of the prestigious “Luxus Aruhaz” retail unit at Vorosmarty square in the heart of Budapest. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

New Partner Appointment at Noerr in Budapest

Viktor Füzi (39) has been appointed Associated Partner at Noerr’s Budapest office. Viktor has been with Noerr for over 2,5 years and has been advising…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarians rush to lenders, but something odd happens in December

In 2018, Hungarian households took out exactly as much home loans and 1.5-times as much personal credit than in the record year of 2008. According…

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Posted in PORTFOLIO.HU - Online Financial Journal

Europe is in trouble, but Hungary's manufacturing sector is still fine

Hungary’s manufacturing purchasing manager index (PMI) continues to suggest that the domestic industry is in a good shape. This is positive in light of the…

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