After wielding its veto power at an EU summit in December to stop the proposed €50-billion fund for Ukraine, known as the Ukraine Facility, Hungary suspended a vital life-line for the war-torn country. As the EU searches for ways to revive negotiations on the package, Hungary signaled it may throw its support behind the initiative […]
Veolia Group companies in Hungary and Poland have acquired a 53% majority stake in THERMOWATT Energetikai és Építőipari Ltd., a company developing an innovative technology for the recovery of thermal energy from wastewater, the group said. The statement also revealed that a further 46% stake was acquired by GloCap I Economic Development Private Equity Fund, […]
The Hungarian President of the Republic, Katalin Novák held a New Year Reception for Ambassadors and other mission leaders accredited to Hungary in the Museum of Fine Arts in Budapest. She recalled that there will be elections in Europe this year, giving 400 million European citizens the opportunity to set the direction of European politics. […]
The Budapest Stock Exchange's (BSE) share index, the BUX, closed at 62,804.52 points on Wednesday, up 882.9 points or 1.43%, the second all-time high this week, MTI reported Wednesday afternoon. Turnover on the stock market was HUF 20.5 billion, with the leading shares performing mixed compared to the previous day's close. According to Zoltán Árokszállási, […]
The Centrale multifunctional building complex will be built on one of the Hungarian capital's main intermodal hubs, the Puskás Ferenc Stadion underground station, at Budapest’s prime sports, entertainment, and culture district, and in the middle of the Hungária Boulevard office corridor. The 29,000-sqm GBA development, with its unique architectural and forward-thinking solutions, will offer commercial […]
Last year, the number of users of Wallis Car Sharing Plc.'s service wigo increased by almost 30% to over 100,000, with customers covering 15 kilometers in an average 52-minute trip, for a total of 8 million kilometers, the same as in 2022, the company told MTI on Monday. According to the information sheet, the number […]
Both voluntary and private pension funds in Hungary ended 2023 with returns well above inflation. According to calculations by the financial website enpenzem.hu, the vast majority of pension funds grew by 20% or more in 2023, making up for losses in 2022. The National Bank of Hungary (MNB) expects annual average inflation to be around […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 61,454.62 points on Friday, up 1.38% to 834.61 points from a week earlier, MTI reported Sunday morning with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 33.6 billion, up from HUF 13.6 billion the […]
As we usher in the new year, Hungary finds itself at the crossroads of fiscal challenges and economic resilience, with the government acknowledging a significant overshooting of its budget deficit estimate for 2023. The implications of this unexpected development reverberate beyond national borders, impacting investor confidence and raising questions about the credibility of Hungary's fiscal […]
Industrial producer prices were 6.6% lower on average in November 2023 compared to one year earlier. Domestic output prices were cut by 1.9% and non-domestic output prices by 8.9%, the country's Central Statistical Office (KSH) reports. The development of industrial producer prices was influenced among others by the annual strengthening of the forint against the […]
OTP Bank Plc. has announced on the website of the Budapest Stock Exchange that the Metropolitan Court of Registration has registered a capital increase at Merkantil Bank Plc. Accordingly, the registered capital of Merkantil Bank Plc. was increased to HUF 3,000,000,000 from HUF 2,000,000,000. Merkantil Bank started its operations in 1988 as a subsidiary bank […]
Vajda-Papír Ltd. has acquired a majority stake in Vajda-Papír Scandinavia AS, a Norwegian company that has been part of the Vajda-Papír Group for more than ten years, Attila Vajda, Managing Director of Vajda-Papír Ltd., told MTI. He justified the transaction on the basis of economic considerations, improving efficiency and the creation of a large corporate […]
This year marks the 100th anniversary of the founding of the National Bank of Hungary (Magyar Nemzeti Bank – MNB), which is commemorating the past 100 years with special programs, events and publications. A Tuesday statement by MNB says that the independent national bank is one of the most important symbols of Hungary's sovereignty, and […]
The editors of Condé Nast Traveller, one of the world's leading travel magazines, have again compiled a list of the world's most stunning hotels. The carefully selected 2024 Gold List includes the Four Seasons Hotel Gresham Palace in Budapest. As the magazine points out, this collection of 68 resorts and hotels represents hundreds of hours […]
In accordance with Prime Minister Viktor Orbán's decision, the Ministry of Economic Development continues its activities under a new name, the Ministry of National Economy, from January 1, the Ministry told MTI on Monday. The aim of the transformation is for the Ministry to support the government's primary economic policy goal for 2024, the restoration […]
