Posted in PORTFOLIO.HU - Online Financial Journal

Hungary retail gov't securities fly high at HUF 8,500 bn in July

The stock of forint-based retail government securities was nearly HUF 8.500 bn at the end of July, the Finance Ministry said. This represents a HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Retail gov't securities fly high at HUF 8,500 bn in July

The stock of forint-based retail government securities was nearly HUF 8.500 bn at the end of July, the Finance Ministry said. This represents a HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary budget deficit reaches HUF 350 bn by end-July

Hungary’s general government posted HUF 37.2 billion surplus in July 2019, the Finance Ministry announced on Friday. The central budget, excluding local government’s, had a…

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Posted in PORTFOLIO.HU - Online Financial Journal

Average account at Treasury holds almost HUF 6 mn in savings

The number of client accounts and the size of assets managed have increased greatly at Hungary’s State Treasury in the first six months of 2019….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint approaches new 2.5-yr low vs. USD even more

Hungary’s forint hit a new 12-month low versus the euro and a 2.5-year low against the US dollar on Friday, i.e. its slide continues. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint eases further, hits 2.5-year low versus USD

Hungary’s forint hit a new 12-month low versus the euro and a 2.5-year low against the US dollar on Friday, i.e. its slide continues. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to invite tenders in more than a dozen EU economic development programmes

In addition to the allocation of economic development EU funds gaining momentum in recent weeks, more than a dozen new calls to tender are expected…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary forint may rebound or hit new all-time low versus euro

Hungary’s forint eased to its lowest level this year versus the euro on Thursday and started Friday trading at 328. The question is whether it…

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Posted in PORTFOLIO.HU - Online Financial Journal

Where's the rivalry? BMW, Mercedes and Audi to team up – paper

BMW and Daimler have recently announced that they are to join forces on automated driving, and German weekly business news magazine Wirtschaftswoche has learned that…

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Posted in PORTFOLIO.HU - Online Financial Journal

Where's the rivalry? BWM, Mercedes and Audi to team up – paper

BMW and Daimler have recently announced that they are to join forces on automated driving, and German weekly business news magazine Wirtschaftswoche has learned that…

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Posted in PORTFOLIO.HU - Online Financial Journal

Swiss fintech startup becomes USD 1 bn unicorn, might set up shop in Hungary too

A Swiss fintech startup has boosted its value to over one billion U.S. dollars, and all with the help of private investors. It is now…

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Posted in PORTFOLIO.HU - Online Financial Journal

Rating assigned to leading Hungarian construction company, major bond issuance may follow

The National Bank of Hungary (MNB) launched its corporate bond programme in July 2019, in scope of which it is buying bonds issued by Hungarian…

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Posted in PORTFOLIO.HU - Online Financial Journal

International Campus to build two huge dormitories in Budapest

Global property developer International Campus will enter the Hungarian market with the construction of two large private dormitories in Budapest. The two buildings, to be…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian medtech teams could become European success stories

Two Hungarian teams of researchers won EUR 25,000 each at the third annual EIT Health InnoStars Awards startup competition: InSimu Ptient, which develops medical training…

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Posted in PORTFOLIO.HU - Online Financial Journal

EU funding gets Mohács new HUF 680 mn market hall

The city of Mohács, South Hungary has built a HUF 680 million market hall to replace an earlier open-air market, Mayor József Szekó said. There…

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Posted in PORTFOLIO.HU - Online Financial Journal

May the workforce be with you!

A common solution to the chronic workforce shortage seen in the entire region nowadays is that one company provides labour to another. However, one should…

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Posted in PORTFOLIO.HU - Online Financial Journal

BlackRock stake in Hungary's Richter below 5%

Gedeon Richter, Hungary’s leading pharmaceutical producer, has announced that BlackRock’s holding in the company decreased below the 5% threshold. Richter announced on Wednesday that… Powered…

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Posted in PORTFOLIO.HU - Online Financial Journal

What types of savings fell victim to Hungary's 'superbond'?

The instruments that suffered the most due to the spin Hungary’s new retail government bond took households’ investments in the early summer were investment funds,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary shows best performance since before IMF bailout

Hungary’s general government gross debt declined to under 70% of gross domestic production, a level it has not been since before the country had taken…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary postal service prepares for third largest investment ever

Hungary’s postal service Magyar Posta is preparing to make an investment worth tens of billions of forints in package processing, the daily Világgazdaság reported. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Fitch: Prospects of euro adoption in Hungary in foreseeable future remain remote

Euro adoption in central and eastern European (CEE) countries would be positive for their sovereign creditworthiness, Fitch Ratings says in a new report. It added,…

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Hungary glowing red in Europe's growth map

Last week, EU member states have posted their latest GDP growth data, which revealed that growth was highest in Hungary both on a quarterly and…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary June construction growth highest in EU

In June, seasonally adjusted production in the construction sector remained unchanged in the euro area (EA19) compared with May and decreased by 0.3% in the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Do you care about Hungary's debt? A few more days and you'll know more

Hungary’s macro calendar is not exactly packed this week, given that there will be only three working days due to a two-day holiday. On global…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarians withdraw immense sums from real estate funds

Hungarians have never before withdrawn so much from real estate funds than in July 2019. According to the latest data, nearly 74 billion forints ended…

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Posted in PORTFOLIO.HU - Online Financial Journal

Construction industry drives Hungarian leasing market growth

As the construction industry is growing at record pace, businesses in the sector are making substantial upgrades. Hungarian leasing companies financed HUF 14.35 bn in…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary might be made an even bigger star in a few hours

Over the last few years, we got used to credit rating agencies giving credit (no pun intended) for Hungary’s economic performance, and taking the country’s…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary among least forested EU countries, Eurostat says

Hungary is lagging well behind the EU average in terms of forested areas even accounting for its small size, according to a Eurostat survey released…

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Posted in PORTFOLIO.HU - Online Financial Journal

4iG wins HUF 1.2 bn Budapest Bank contract

Hungarian IT group 4iG has signed a high-value contract Budapest Bank on 14 August 2019, 4iG announced on the Budapest Stock Exchange website. The framework…

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Posted in PORTFOLIO.HU - Online Financial Journal

Investors raise USD 11 million for Hungarian V2X startup

Hungarians-founded Commsignia, Inc., a market leader in V2X (Vehicle-to-Everything) solutions, announced the closing of a USD 11 million (cc. HUF 3.2 billion) fundraising round led…

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Posted in PORTFOLIO.HU - Online Financial Journal

Yields fall to record lows at Hungary's bond auctions

Over the last few days, we have been witnessing a sharp decline in Hungarian yields on the secondary market, and the bond auction by the…

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – Two rating agencies to review Hungary's debt ratings on Friday

Both Fitch and S&P have the opportunity to review Hungary’s sovereign debt rating on 16 August. Despite some improvements in macro data, there is only…

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László Diósi appointed Chairman of OTP Bank's new Moldovan unit

László Diósi, who has been the head of OTP Bank’s Romanian subsidiary for 14 years, has been appointed Chairman of the Board of Directors at…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary in talks to buy new military cargo jets

Hungary is in talks with Brazil to buy KC-390 medium-sized military transport aircraft, according to local papers, Hungarian news portal Jogalappal spotted. KC-390, a medium-weight,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Banks pencil in nearly 50,000 job cuts this year

Banks across the globe have announced more than 48,500 job cuts this year as the outlook for the economy weakens, data collected by Bloomberg show….

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Posted in PORTFOLIO.HU - Online Financial Journal

INSTANT VIEW – Analysts address Hungary's upside GDP surprise

The CE4 expanded at an average 4.1%oya rate in 2Q19, a similar pace to the past year or so, defying the Eurozone’s slowdown. Growth was…

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Posted in PORTFOLIO.HU - Online Financial Journal

Yields on Hungarian government bonds keep on plummeting

The reference yield on Hungary’s 10-year benchmark government bond fell another 22 basis points to a new all-time low of 1.47% on Wednesday, data on…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary beats the whole of Europe

Hungary’s showed the best economic performance in the European Union in the second quarter of 2019 both in annual and in quarterly terms, a report…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary gov't takes credit for 1.6pp of Q2 GDP growth

Measures taken by the government, including in particular the six-year wage agreement, the government’s competitiveness package, the support to Hungarian families to acquire homes, and…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian private health provider deploys high-tech screening robot

Hungary is the first country in the CEE region to use Kryptor Gold, the most advanced screening robot, in its private healthcare after the Czeizel…

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Posted in PORTFOLIO.HU - Online Financial Journal

Negative yields do not reflect economic strength, Fitch says

Negative yields on global government debt reveal a distorted market rather than the strength of a country’s economic profile, credit rating agency Fitch has warned….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary Mol lowers fuel prices further

Hungarian oil and gas group Mol has lowered the wholesale price of 95-octane gasoline by HUF 9 per litre and that of diesel fuel by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Czech companies cannot resist to Hungary's solar power frenzy

The combination of a slow-down in state subsidies at home and an increased demand for solar power in Hungary is leading many Czech companies to…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarian meat processor expands capacity on HUF 740 mn EU grant

Hungarian meat company Privát-Hús Ltd. has recently carried out a two billion forint complex property and technological development project to boost its output capacity, the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary may ban drivers using phones for life

Anyone using their smartphone while driving should be banned from traffic once and for all, traffic security expert Endre Dobrocsi said on public television M1…

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Posted in PORTFOLIO.HU - Online Financial Journal

Where has the huge superbond revenue ended up?

The HUF 1,400 income from subscriptions of the Hungarian Government Security Plus (MÁP+) has not really been reflected in government account deposits at the National…

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Posted in PORTFOLIO.HU - Online Financial Journal

The only way forward for Hungary is down? Economy reaches turning point

Hungary’s economic output grew by 4.7% year on year in the second quarter of 2019, according to the consensus forecast of analysts polled by Portfolio….

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Posted in PORTFOLIO.HU - Online Financial Journal

Is it starting? New orders down, industrial production declines in Hungary

The volume of industrial production declined by 1.8% month on month in Hungary in June 2019, according to second estimate figures published by the Central…

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Posted in PORTFOLIO.HU - Online Financial Journal

Chinese investments in Europe down 80% in H1

Chinese investment in Europe has plummeted by 80% in the first half of the year compared with the same period in 2018, according to a…

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – German problems seen cracking CE3 resilience

The Central European economies have weathered Germany’s malaise with ease so far, but cracks are beginning to show, and as Europe’s manufacturing powerhouse shows no…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungarians' new 'pet bond' meter over HUF 1.5 trillion

According to the latest weekly statistics, a total of HUF 1,586 billion worth of Hungarian Government Security Plus (MÁP+) have been subscribed since the launch…

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Posted in PORTFOLIO.HU - Online Financial Journal

Superbond moves huge assets but nothing can trump cash in Hungary

The further spread of cash has not been successfully stopped in July, either, even though the new Hungarian Government Security Plus (MÁP+) continued to draw…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary steps up EU grant allocations in July

The number of new EU grant winners jumped from about 250 in June to 600 in July, the highest even monthly figure, indicating that the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary construction output growth drops in June

The volume of construction output in Hungary grew by 1.7% month on month in June 2019. As the Central Statistical Office (KSH) recorded contraction in…

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Posted in PORTFOLIO.HU - Online Financial Journal

ANALYST VIEW – Record high target price for Hungary's OTP

J.P. Morgan has raised its target price for Hungary’s OTP Bank on Monday. The new TP is almost 25% higher than OTP’s current share price…

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Posted in PORTFOLIO.HU - Online Financial Journal

Prenatal loans bring HUF 3 bn revenue for Takarék

The Takarék Group has reported high demand for the government’s new prenatal loan, a part of its family protection package, as customers applied for HUF…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary fuel prices drop on Friday

Hungarian oil and gas group Mol has lowered the wholesale price of 95-octane gasoline by HUF 6 per litre and that of diesel fuel by…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's OTP posts record Q2 profit

OTP Bank posted HUF 105 billion revenue for the second quarter, a new record for the company. Revenue and profit were both boosted to record…

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Posted in PORTFOLIO.HU - Online Financial Journal

Why has the EU tackled big online platforms? – The answer is here

Online platforms have rapidly changed the way in which businesses can connect with their consumers. Nowadays companies can easily offer products and services that are…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's budget still in exceptional state

Hungary’s general government posted a HUF 37.2 billion cash-based surplus in July, according to preliminary figures form the Finance Ministry. The exceptional part is the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Huawei scandal, lower gov't orders eat into Magyar Telekom Q2 revenue

Magyar Telekom’s second quarter revenue was roughly in line with expectations, while profit exceeded analysts’ expectations. Management has not amended its targets for the year….

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's exports, foreign trade balance down in June

Surplus on external trade in goods was EUR 556 million in June, the Central Statistical Office (KSH) said on Thursday. Although the figure seems impressive…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary CPI 3.3% in July

Prices rose 3.3% in July, the Central Statistical Office (KSH) said on Thursday. The figure is roughly in line with expectations. CPI dropped from 3.9%…

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Hungary Richter wonderdrug to be distributed in Asia

Mitsubishi Tanabe Pharma Corporation’s subsidiaries in the ASEAN region obtained the regulatory approval of cariprazine for the treatment of schizophrenia in Singapore and in Thailand,…

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4iG to join Hungary central bank's bond scheme

4iG intends to take part in the Bond Growth Scheme launched by the National Bank of Hungary (MNB) on 1 July 2019, the company announced…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary slaps Wizz Air with another HUF 300 mn fine

Hungarian low-cost carrier Wizz Air has been fined HUF 300 million for causing damages to customers, the Prime Minister’s Office announced on Wednesday. The Budapest…

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Posted in PORTFOLIO.HU - Online Financial Journal

Market expects record Q2 profit from OTP

Hungary’s OTP Bank will publish its earnings report for the second quarter early on Friday and is expected to post a record revenue and profit….

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Posted in PORTFOLIO.HU - Online Financial Journal

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

UBS has on Wednesday lowered its target price for Hungary’s OTP to HUF 15,200 from HUF 15,250 previously. UBS has changed its target price for…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary CPI may have peaked in May – POLL

Hungary’s consumer price index may have reached its highest point of the year in May, and analysts polled by Portfolio expect no more increase in…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary's industry hits the brakes in June

The volume of industrial output was 1.8% below the May level according to seasonally and working-day adjusted indices, and was 1.4% lower than in June…

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Posted in PORTFOLIO.HU - Online Financial Journal

Budapest hotel market prepares for boom

Four new hotels have opened in Hungary in the first half with a total of 590 new rooms, chiefly in and around Budapest, the latest…

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Posted in PORTFOLIO.HU - Online Financial Journal

57% of Hungarians in favour of the euro, EU survey finds

Confidence in the European Union and optimism regarding the future have not been this high since 2014, according to the latest Eurobarometer survey , made…

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Management sells AutoWallis shares

Board member Andrew John Prestas sold 84,388 AutoWallis C-series ordinary shares in an over the counter deal, the company announced on the Budapest Stock Exchange…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary central bank eases liquidity at swap tender

The National Bank of Hungary (MNB) held FX swap tenders for one, three, six and 12 months maturities yesterday, allotting HUF 26.52 billion combined. With…

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Hungarian drugmaker Richter projects slight growth in sales this year

The management of pharmaceutical company Richter expects revenue from pharmaceutical sales to increase 2 to 3% this year and group-level revenues to increase by 5…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary to buy more Munkácsy paintings

The Hungarian government plans to buy another collection of Hungarian painter Mihály Munkácsy and intends to set up a Munkácsy museum to exhibit the works…

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Posted in PORTFOLIO.HU - Online Financial Journal

Vraylar sales in U.S. boost Richter Q2 result

Hungarian pharmaceutical company Richter Gedeon has exceeded market expectations in the second quarter with regard to revenue and gross margin. The company’s flagship drug, Vraylar,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary healthcare unsuited to demographic growth, central bank chief says

“We do not understand that given the current working of the public healthcare system, we cannot achieve a demographic turnaround, György Matolcsy, Governor of the…

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Demand for Hungary's superbond keeps falling

According to the latest weekly statistics, the Hungarian Government Security Plus (MÁP+) has had its weakest period so far as only HUF 82 billion of…

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Posted in PORTFOLIO.HU - Online Financial Journal

Richter expected to post higher revenue, lower profit in Q2

Hungarian pharmaeutical company Richter Gedeon will release its earnings report Tuesday morning. According to Portfolio’s own consensus, analysts unanimously anticipate increased revenue, while net… Powered…

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Erste Hungary posts HUF 28.3 bn H1 profit

Erste Bank Hungary had pre-tax profit of HUF 28.3 billion in the first half, up 22% year on year, the bank said at a press…

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Hungary's Set Group to buy 20% of itself

Publicly traded Set Group will buy 10 million of its own shares after the company’s EGM approved the plan, the company announced late on Friday….

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Posted in PORTFOLIO.HU - Online Financial Journal

Fate of the Hungarian forint in the balance again this week

As central banks around the world have fired off their shots in the last two weeks, we can now prepare for a calmer period. In…

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Posted in PORTFOLIO.HU - Online Financial Journal

This is a first in Suzuki's 27-year history in Hungary

New passenger car registrations were up 27% year on year in Hungary in July 2019. Suzuki played a key role in this strong performance, having…

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Posted in PORTFOLIO.HU - Online Financial Journal

New passenger car registrations remain robust in Hungary

A total of 15,284 new passenger cars were registered in Hungary in July 2019, 27% more than in the same month of 2018. In January-July,…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary cenbank restricts distribution of CFDs

In its decisions the National Bank of Hungary (MNB) strictly limited the retail distribution of contracts for differences (CFDs) by five domestic market participants that…

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July another weak month in Hungarian property market

There were 12,764 residential property deals made in Hungary in July, according to the latest monthly transaction estimate by real estate group Duna House. The…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary PM praises new EC President

“Keeping the ideological guerrillas away” and electing leaders with a pragmatic life instinct was a good decision, Prime Minister Viktor Orbán told public television M1…

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Hungary Mol Downstream delivers major upside surprise

Hungarian energy group Mol has published its earnings report for the second quarter of 2019 early on Friday. All of its key earnings exceeded analysts’…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary retail sales pick up again in June

Retail sales in Hungary picked up again in June after a surprisingly lacklustre May performance, according to data published by the Central Statistical Office (KSH)…

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Hungary's Tungsram to expand into Egypt

Hungarian lighting and tech multinational Tungsram and the Arab Organization for Industrialization (AOI) have signed a Memorandum of Understanding today in Cairo for the joint…

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Three unpublished corruption reports on Hungary see daylight

Three so far unpublished corruption reports on Hungary conceived by the Group of States against Corruption (GRECO), a Council of Europe member, have been brought…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary needs to step up foreign bribery offence against companies

The OECD Working Group on Bribery is concerned that Hungary has not commenced any foreign bribery investigations or prosecutions in over nine years since the…

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Budapest to introduce night-flight ban – mayor

As a result of legislative changes, air traffic in the airspace above Budapest will be eliminated completely between midnight and five A.M., announced Budapest mayor…

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Posted in PORTFOLIO.HU - Online Financial Journal

Liberty Global completes sale of operations to Vodafone

Liberty Global plc has announced that it has completed the sale of its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group…

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Posted in PORTFOLIO.HU - Online Financial Journal

Croatia hires new consultant on buyback of Hungarian Mol's stake in INA

Croatia has signed New York-based investment bank Lazard as the government’s new consultant on the buyback of Hungarian energy group Mol’s stake in oil company…

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Hungary to sell strategic gas reserve facility

The Hungarian Hydrocarbon Stockpiling Association (MSZKSZ) will acquire 100% of natural gas storage MMBF Zrt., the daily Népszava reported on Thursday. MSZKSZ, currently a minority…

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Hungary to nurture Hungarian multinationals

The Hungarian government will provide more than HUF 14 billion in non-refundable subsidies for business development under two new schemes in the Economic Development and…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary manufacturing PMI drops to three-year low

Hungary’s manufacturing purchasing manager index (PMI) dropped to 51.3 points in July 2019, the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM) reported on……

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European Commission should stick to execution, Hungary says

The European Commission is an executive body, not a political organisation, government spokesperson István Hollik said Wednesday evening on public television M1. In his view,…

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Prenatal baby support is fun, but not the only interesting thing in Hungary

Erste Group chief executive Andreas Treichl said the ‘Japanisation’ of Europe is a serious problem. Treichl held a press conference on Wednesday on the occasion…

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Superbond has unprecedented impact on Hungarian bank deposits

A total of 235 billion forints were withdrawn from Hungarian bank deposits in June, most of which have presumably been reinvested in the new retail…

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Posted in PORTFOLIO.HU - Online Financial Journal

Wizz Air to pay HUF 250 million compensation to passengers

Hungary’s competition authority GVH has accepted an undertaking by Wizz Air, the fulfilment of which will ensure a compensation of about half a billion forints…

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Generali buys ERGO's Hungarian insurance portfolio

Generali has purchased the entire insurance portfolio of ERGO’s Hungarian insurance units in a group-level deal that also encompasses the Slovakian market, Generali said in…

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Hungary forint nears annual low

Following the 11-month low of 328 forints to the euro on Monday, the rate has stabilised near 327.5, but this apparent calm is expected to…

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Mol extends EUR 555 mn credit facility

Hungarian oil and gas group Mol has extended the maturity of an EUR 555 million revolving credit facility, the company announced on the Budapest Stock…

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Posted in PORTFOLIO.HU - Online Financial Journal

New company to enter Budapest Stock Exchange via Est Media

Hungary’s Est Media has announced on Tuesday that it is buying Delta Systems, one of the subsidiaries in Delta Group. This was the reason why…

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Foreign nationals buy 7,300 homes in Hungary in 2018

There were nearly 7,300 property deals registered in Hungary last year where the buyer was a foreign private individual. Although the total spending of non-Hungarians…

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Wage growth rebounds in Hungary in May

Average gross earnings in Hungary were 11.2% higher in May 2019 than a year earlier. With this the index returned to double-digit territory, i.e. the…

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98% of Hungarian hospital beds have no AC

Reacting to recent news coverage on the HVAC situation in hospitals, the Hungarian Hospital Association made a quick survey and found no reason to rejoice….

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Budapest Airport to appoint new CEO

Budapest Airport CEO Jost Lammers will leave his position at the end of the year to head the Munich international airport from 2020, state newswire…

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Hungary Mol seen reporting eroding profits in Q2

Hungarian fuels group Mol is scheduled to publish its earnings report for the second quarter of 2019 on 2 August, and 11 analysts have already…

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Posted in PORTFOLIO.HU - Online Financial Journal

European anti-fraud office to look into Microsoft Hungary case

OLAF is investigating possible fraud during the sale of software licences co-financed by the European Regional Development Funds and the European Social Funds, the European…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary 'superbond' sales exceed HUF 1.4 trillion

More than 1,400 billion forints worth of Hungary’s new retail government security (MÁP+) have been sold so far since 1 June 2019, the latest data…

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Price of diesel is to be raised in Hungary on Wednesday

Hungarian oil and gas group Mol will raise the wholesale price of diesel by HUF 3 per litre as of Wednesday, while the price of…

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Posted in PORTFOLIO.HU - Online Financial Journal

800,000 Hungarians have drinking problems – toxicologist

There are 800,000 alcoholics in Hungary, which means there is one in almost every family, toxicologist Gábor Zacher told public television M1 on Monday. Zacher…

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Surprising info about Hungarian expats revealed

Hungary’s unemployment rate dropped to a new all-time low of 3.3%, while the employment rate rose further in April-June 2019, the Central Statistical Office (KSH)…

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Posted in PORTFOLIO.HU - Online Financial Journal

Audi starts production of new model in Hungary

Audi has started serial production of its new Q3 Sportback model in Győr, adding a fifth model after the A3 Cabriolet, the TT Coupé and…

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Posted in PORTFOLIO.HU - Online Financial Journal

EU road fatality statistics still dreadful but show minor improvement

Although the situation has improved a lot over the last few decades, there are still a lot of fatal accidents on the roads of the…

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Posted in PORTFOLIO.HU - Online Financial Journal

Hungary PM envisions two more economic action plans

Should the Hungarian government’s assessment of the European economy’s prospects prove to be correct, Hungary will need a second economy protection action plan next spring…

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