The National Bank of Hungary hiked interest rates this week, becoming the first monetary authority in the European Union to start monetary tightening as it seeks to tame inflation in the aftermath of the COVID pandemic. The bank indicated it would continue to raise borrowing costs due to inflation risks. The Monetary Council of the […]
According to Skanska’s survey, nowadays, nearly half of office workers in CEE countries go to the office every day, and now they have specific preferences regarding their workplace. These include a quiet space and high office standards (e.g. safety, relaxation, working in open air) which are most frequently indicated key factors in the region that […]
The amount of claims paid out due to Covid exceeded HUF 700 million in Aegon Insurance's life and accident insurance portfolio. As a result of the coronavirus, the terms and conditions of the insurance policies have been significantly modified in some areas for the benefit of the customers. A press release by the company says […]
In its latest publication, the National Bank of Hungary (MNB) presented and summarized its responses with which was able to successfully handle the crisis caused by the coronavirus pandemic. Governments and central banks have responded with historical scale crisis management measures to the pandemic broke out in early 2020. The former launched a number of […]
Hungarian biochemist Katalin Karikó and her fellow researchers Drew Weissman, Philip Felgner, Uğur Şahin, Özlem Türeci, Derrick Rossi and Sarah Gilbert are to receive this year's Princess of Asturias Award for Technical and Scientific Research for their achievements in developing a vaccine against the SARS-CoV-2 coronavirus, the cause of the COVID-19 pandemic. According to a […]
Domestic electricity consumption has soared to record levels in the heatwave, and in the coming days the summer peak load on the Hungarian electricity system could be broken again, the financial website portfolio.hu reports. Looking at the summer of 2021, it was for the first time this Monday at noon that the national system load […]
After an unprecedented rise in April, the GKI economic sentiment index continued to as-cend in May and June, but most recently only within the statistical margin of error. This brings the index back to its level at the beginning of last year preceding the pandemic. According to a survey conducted by GKI Economic Reserarch Institute […]
On the occasion of the Victory Day of the Republic of Estonia, the country's ambassador to Hungary, Kristi Karelsohn hosted a garden partyin the garden of the Embassy in the Buda Hills this Tuesday. Attended by dozens of fellow ambassadors and other guests, the event was the first major diplomatic reception in Hungary after the […]
Euronet, a cash dispenser company that has been active mainly in city centers and near tourist destinations, has entered a new field: they are targeting settlements and neighbourhoods where cash has typically been scarce. With the rise of digitalisation and online banking, there are fewer and fewer bank branches and ATMs, but cash is still […]
The heat alert ordered by the National Medical Officer Cecília Müller has entered into force. According to the government decree, this is considered an exceptional weather situation and justifies the imposition of exceptional measures. According to the forecast of the National Meteorological Service, the heat will continue in the coming days, with a peak in […]
National Bank of Hungary (MNB) governor György Matolcsy said he believes the 5.9-percent-of-GDP deficit target in the 2022 budget is "a mistake" and could set the country up for "persistently high inflation." He wrote in an online column this Monday that "Parliament has approved the 2022 budget and its target for a 5.9-percent-of-GDP deficit. I […]
Cultural events await visitors in the ports of the Danube Bend, north of Budapest, for more than two months until the end of August. MAHART PassNave Passenger Shipping Ltd., in cooperation with the Ministry of Human Resources, is organizing the Danube Bend Arts Festival for the first time this year, which will offer a colourful […]
The Hungarian pharmaceutical firm Gedeon Richter Plc. announced this Monday that it signed a multi-party agreement to divest its wholesale operation to Grin-Farm S.R.L. and its retail operations to BIRIVOFARM S.R.L., both in the Republic of Moldova. Richter as a majority owner of both the wholesale and the retail operations is entitled to approximately 62% […]
A 100-kilogram Soviet aerial bomb was defused and another aerial bomb remnant was found by the Hungarian Armed Forces in the Danube near the Chain Bridge on Sunday morning. After retrieving the device found in the Danube riverbed, the bomb disposal team identified it as a 100-kilogram Soviet aerial bomb. The sharp nose fuse of […]
The Hungarian Energy and Public Utility Regulatory Authority (HEA) has published its report summarizing the preliminary energy statistics of last year. According to the report, Hungary continues to rely heavily on imports, but solar power generation has increased significantly. As the report points out, a significant part of Hungary's primary domestic energy use was provided […]
