The Canadian Chamber of Commerce in Hungary (CCCH) that celebrated its 20th anniversary in 2013 promotes business for both Canadian and Hungarian companies. Diplomacy & Trade has recently carried this interview with its President, Nicholas Sarvari.

The Deutsch-Ungarische Industrie- und Handelskammer (German-Hungarian Chamber of Industry and Commerce – DUIHK) looks back at a history of over two decades. Diplomacy & Trade carried a recent interview with the President of the Chamber, Dale A. Martin.

Representatives of the ruling party Fidesz and its small satellite partner Christian Democrats voted this Tuesday to prohibit large-size retail shops from opening on Sundays. No impact study has preceded the ban that is believed to be leading to layoffs.

Compared with its very high October value, the GKI-Erste economic sentiment index adjusted for seasonal effects decreased slightly in November. Expectations remained unchanged in the business sector, whereas they declined among consumers.

Hungary’s gross general government debt was 85.1% of gross domestic product at the end of the second quarter of 2014. It is believed to be related to the peculiar course in Hungary’s debt financing and a correction of the end-2013 doctoring of debt figures.

The Hungarian Ministry of Agriculture says direct effects of the Russian measures on Hungarian agricultural exports are negligible, and primarily cause actual difficulties only to enterprises that export exclusively or to a major extent to Russia.

The recent Dutch country focus of Diplomacy & Trade featured an interview with the head of the Political and Economic Department who says the Embassy is prepared to act as an interlocutor between the Dutch business community and the Hungarian authorities.

The European Commission announced the first results of its new EUR 3 billion SME Instrument program, launched under Horizon 2020 to help innovative small firms get ideas from the lab to the market. The first winners include three Hungarian firms.

The Hungarian European Business Council, incorporating the most important international companies present in Hungary, has published its 16th annual report, calls on the Hungarian government to create "sustainable and inclusive growth".

Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to Hungarian forint (HUF) loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday.

After one and a half years of spectacular rise, the GKI-Erste economic sentiment index reached a peak in April. After a decrease in May, expectations improved slightly in the business sector in June, whereas the consumer confidence index continued to decline.

The Hungarian government will do everything in its power to help Hungary turn into not only a production but an innovation centre, Minister for National Economy Mihály Varga said at the general assembly of the Hungarian Association for Innovation.

The SME sector struggling in Hungary with a sharp rise in bankruptcies and a shattered structure of companies. That was one of the issues were addressed at the Portfolio CEE Private Equity & Corporate Finance conference in Budapest.

The Hungarian government projects 2.9% of GDP budget deficit for 2014 and over 3% economic growth for 2017 in its convergence program sent to the European Commission. The program was outlined to the press by Economics Minister Mihály Varga.

The European Commission is not suspending the payment of development funds for Hungary, but for now, Brussels will only pay the bills submitted by 15 April until every question about the country’s new tendering system is clarified.