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 […]
"We stand on the threshold of 2024 full of expectation and hope, confident that we can face our tasks with renewed energy, vitality and momentum," the President of the Republic, Katalin Novák said in her New Year's greeting broadcast by public media after the singing of the National Anthem on Monday. "We trust in talent, […]
The Budapest Stock Exchange (BSE) index rose by 38.42% to 16,826.25 points compared to last year's close, ending this year's trading session at 60,620.01 points. The BUX closed the last week of three trading days of the year with a 0.54% rise to 325.61 points, with total turnover exceeding HUF 13.6 billion. The leading shares […]
American businessman, investor and philanthropist Bill Gates – in his capacity as Co-chair of the Bill & Melinda Gates Foundation – has listed the most important events of 2023 in a Facebook post, and mentioned Hungarian biochemist Katalin Karikó's Nobel Prize in the first place. “There’s no question these are challenging times, but I remain […]
In a potentially groundbreaking move, Hungarian Prime Minister Viktor Orbán has accepted an invitation from Ukrainian President Volodymyr Zelenskyy for a future bilateral meeting. This would mark a significant development in their strained relationship since Russia's invasion of Ukraine in February 2022. Announcing the acceptance during an annual international news conference in Budapest, Orbán revealed […]
The year 2023 saw inflation peak for more than a quarter of a century and then fall sharply in the second half of the year. The hard part is yet to come, however, as disinflation could slow significantly in 2024, so there is a real risk that price rises could still be stuck at significantly […]
According to an international survey, Hungarians are more in favor of the transition to green energy, including solar power plants and wind farms, than the European average, and this is also true when it comes to renewable power plants near their homes/gardens, the financila newssite portfolio.hu reports. However, the answers to the question on the […]
The Budapest Stock Exchange (BSE) share index fell this week on rising turnover, closing at 60,294.40 points on Friday, 74.78 points or 0.12% lower than a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 133.7 billion, up from HUF […]
The first Hungarian Lynx air defense weapon has been completed at the Zalaegerszeg plant in south-western Hungary, the Ministry of Defense said in a statement sent to MTI. They recalled their information on Thursday that according to their latest agreement with their strategic partner Rheinmetall, they are developing an air defence system for the Hungarian […]
