Singapore is famous for its steady growth rate of GDP and a booming foreign trade. The country, often called "young tiger" has managed to evolve its exports from labor-intensive to high value-added products.

As a demonstration of further expansion into the American market, Hungary opened a trade house in New York in the early days of May. It will serve as a new gateway for Hungarian companies in the United States. Officials consider more offices to set up elsewhere in the country.

Nearly half of all family businesses in the CEE region plan changes in ownership within the next 5 years. But most of them don’t have clear processes in place for this turnover and require restructuring to be competitive in the future.

Hungary's public debt has never been over HUF 25,000 billion - until now. According to the Hungarian Debt Management Center, a recent increase of 1,377 bn brought it over the 25,000 bn level. Government officials cliam the increase is only temporary.

A recent report suggests that the typical amount sent by migrant workers back to their home country ranges from USD 1,500 to USD 3,200 annually. In 2014, Hungarians transferred to their families back home some USD 4.5 billion.

The Belgian Business Club in Hungary Association (Belgabiz) was officially presented on Thursday in Budapest, aiming to provide information-gathering services for companies interested in the development of Hungarian-Belgian economic relations.

The Hungary-Japan Economic Club (MJGK) was founded in 1971 to assist with information, events and contacts (companies and individuals) interested in economic co-operation between Hungary and Japan and to aid in the improvement of those relations.

European Chamber’s Competitiveness Index lists the countries based on the Global Competitiveness Index (GCI) improvement from the global financial crisis in 2008 to the present. Switzerland, Germany and Scandinavian countries are competitively dominant in Europe, Macedonia and Bulgaria are far behind.

As a result of the amendment of legislation on the advertising tax, this levy is to generate more revenues than what the cabinet had previously estimated, the financial website portfolio.hu quotes local daily newspaper Népszabadság.

A mild recovery is forecast for 2015, with growth set to reach 1% in 2016, spurred by EU-funded investments. Fiscal consolidation needs and limited structural reforms, however, continue to hold back potential growth. Employment is still expected to stagnate in 2015 - according to the analysis and forecast of the European Commission.

The number of new car registrations jumped in Hungary by 21% year on year in April 2015, the financial website portfolio.hu quotes JATO Dynamics. The top-selling brand was Ford, as it took the lead in sales to businesses, with Suzuki on top among private buyers.

Addressing the challenges of the global economy's transition from the linear model to the circular economy, EuCham European Chamber is hosting the Green Economic Forum on May 11 in Budapest. Attending is free of charge for accepted registrants.

The number of businesses involved in vocational training is set to rise from 7,000-8,000 to 20,000 in Hungary and the government says it will set up training centers in the capital and in major cities around the country from July this year.

Hungarian government ministers have ordered an immediate halt to construction of the section of the M4 motorway between Abony and Fegyvernek in Eastern Hungary as they claim the European Commission had raised concerns over suspected cartel activity.

The Hungarian-Chinese Chamber of Economy (ChinaCham Hungary) celebrates 10th anniversary this year. On this occasion, the President of the organization, Ernõ Petõ was interviewed for the recent China country focus section of Diplomacy & Trade.