Hungary's national flag was hoisted on Sunday morning in front of the Parliament in Kossuth Lajos Square in Budapest, in the presence of the President of the Republic, Katalin Novák, on the occasion of the August 20 state holiday. The flag was raised to the sound of the Hungarian National Anthem by the Hungarian Defense […]
The stock index of the Budapest Stock Exchange (BSE) rose slightly this week, closing at 56,232.21 points on Friday, up 117.80 points or 0.21% from a week earlier, MTI reported Sunday morning, long with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 53.54 billion, up from HUF 89.22 […]
Based on prices so far, it looks like October is the best time to fly within the continent, the business news portal napi.hu notes. Not only schools ring the bell early September, but that's when most Hungarians fly, according to September and October bookings at the Czech travel technology company site Kiwi.com. London in September […]
Europe's most modern and sophisticated tank factory was built at a world record speed within the Group, providing Hungary with outstanding defense capabilities, Rheinmetall's President, Armin Papperger said at the inauguration of the company's Zalaegerszeg plant (SW Hungary) on Friday. The President said Hungary is part of the European air defense initiative and has the […]
Around 700 tents and other camping equipment left behind by visitors at the Sziget Festival and donated to charity will be given to people in need, the Hungarian Charity Service of the Order of Malta told MTI on Friday. According to the statement, 20 institutions and volunteer groups of the Hungarian Charity Service of the […]
According to preliminary financial accounts data, the net financing needs of the general government in Hungary amounted to HUF 697 billion in the second quarter, or 3.8% of GDP, compared with 11.4% in the previous quarter and 1.6% a year earlier, the National Bank of Hungary (MNB) said on Friday. In the year to the […]
Hungary unexpectedly plunged deeper into recession, recording the longest period of economic contraction in at least 28 years as the war in Ukraine and the government’s economic policy stifle growth. Despite government statements to the contrary, economists are warning that growth may not pick up in the second half of the year, leading to a […]
There is little talk of a Hungarian stock that has consistently beaten even the US stock market over the past 10 years. It is the US dollar-denominated share of Állami Nyomda (ANY Security Printing Company), an expert from Concorde Értékpapír Plc. writes on the financial portal portfolio.hu. Perhaps the most stable company on the Hungarian […]
The real estate development firm CORDIA International Ingatlanfejlesztő Zártkörűen Működő Részvénytársaság has informed investors on the website of the Budapest Stock Exchange in relation to CORDIA 2026/I HUF Kötvény and CORDIA 2030/I HUF Kötvény ('Cordia Bond') about converting the company to Societas Europea private company limited by shares. As the statement points out, CORDIA's Board […]
The National Bank of Hungary (MNB) will increase the amount of euro liquidity offered on swap tenders, the central bank said on Wednesday. The tenders will be announced with a total amount of EUR six billion, instead of EUR five billion. As the financial website portfolio.hu notes, MNB is committed to achieving the inflation target […]
We can't complain, this year's Sziget festival has a realistic total of 420,000 visitors, even if it is 30,000 less than last year. In 2022, the two-year hiatus due to COVID generated a huge demand for festival-going, Sziget's chief organizer, Tamás Kádár told MTI on Wednesday. "During the two missed seasons, there was a huge […]
Hungary’s gross domestic product decreased by 2.4% according to raw data and by 2.3% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2023 compared to the corresponding period of the previous year, the Central Statistical Office (KSH) reports. Analysts note that this Hungarian GDP data is the third worst […]
The layoffs at IBM's Vác plant (north of Budapest) will be carried out gradually in consultation with the works council and the union until the end of production activities, scheduled for the first quarter of 2024; production will be transferred to Mexico, and some of the Vác employees will be transferred to other IBM units, […]
The volume of industrial production declined in June 2023 in Hungary by 3.8%, year-on-year. Based on working-day adjusted data production fell by 6.1%. Analysts note that industrial production has been declining in the country for seven months now. Production dropped in the majority of the manufacturing subsections, at the same time production volume grew in […]
The MNB's statistical balance sheet for July is out: cash holdings have fallen, foreign claims and government deposits have risen, and the banking system is holding good reserves. The average stock of cash in circulation continued to fall in July, according to fresh data from the National Bank of Hungary (MNB). There is HUF 19.6 […]
