Hungary Budapest Business Journal

Thu, 23 Jan 2020 10:00:00 GMT
Hungary, Indonesia set up USD 500 mln investment fund
Indonesia and Hungary will establish a USD 500 mln joint investment fund to support the participation of Hungarian companies in big Indonesian infrastructure investments in transport and water management in the coming years, Minister of Foreign Affai...

Thu, 23 Jan 2020 09:30:00 GMT
Births drop in Latvia for four consecutive years
The birth rate has been declining in Latvia for four years in a row. Provisional data of the Central Statistical Bureau (CSB) show that 18,589 births were registered in 2019, which is 725 births fewer than in 2018.

Thu, 23 Jan 2020 09:05:00 GMT
MNB reprimands 4iG, MTel for violating rules on market abuse
The National Bank of Hungary (MNB) on Thursday said it fined listed IT company 4iG HUF 5 million for keeping an inaccurate record of the timing of its failed acquisition of T-Systems Magyarország, according to state news wire MTI.

Thu, 23 Jan 2020 08:45:00 GMT
Hungary committed to supporting EU accession of Balkans
Minister of Agriculture István Nagy attended the Western Balkans Ministerial Conference on Rural Development in the framework of the Berlin Ministerial Conference on Agriculture, saying that he considered it an excellent initiative to support countr...

Thu, 23 Jan 2020 08:00:00 GMT
EUR 1.72 bln invested in real estate last year
Last year, EUR 1.72 billion was invested in the domestic real estate market, according to the latest analysis from real estate services firm CBRE, writes

Thu, 23 Jan 2020 07:30:00 GMT
Serbia repaying old debts regularly
A total EUR 241.64 million worth of old loans - principal and interest - matures in 2020, according to National Bank of Serbia (NBS) records of debts from the era of the former Yugoslavia, which Serbia will be repaying until 2041, state news agency T...

Wed, 22 Jan 2020 15:26:00 GMT
Bosnia’s Federation annual inflation rate flat in December
Bosnia’s Federation consumer price index remained unchanged on an annual comparison basis in December, after rising by 0.2% in November, the entity’s Agency for Statistics (BHAS) said on Monday.

Wed, 22 Jan 2020 15:00:00 GMT
ÁKK sells HUF 40 bln of bonds at switch auction
The Government Debt Management Agency (ÁKK) sold HUF 40 billion of bonds maturing in 2026 and 2031, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, state news wire MTI reports.

Wed, 22 Jan 2020 14:40:00 GMT
Gen govʼt deficit reaches 122% of full-year target for 2019
Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 1.219 trillion deficit at the end of December, the Finance Ministry confirmed in a second reading on Wednesday, state news wire MTI reports.

Wed, 22 Jan 2020 14:00:00 GMT
Banks spend HUF 30 bln-40 bln preparing for instant payments
Hungarian banks have invested HUF 30 billion-40 bln in infrastructure upgrades to prepare for the launch of system-wide instant payments on March 2, the chief secretary of the Hungarian Banking Association Levente Kovács said at a press conference o...

Wed, 22 Jan 2020 13:30:00 GMT
Croatia jobless rate falls in December
Croatia’s unemployment rate declined to 7.9% in December 2019 from 9.6% in the corresponding month of the previous year, figures from the Croatian Bureau of Statistics (Crostat) show. 

Wed, 22 Jan 2020 12:45:00 GMT
Office leasing demand record high in 2019, BRF says
The Budapest Research Forum (BRF) says that the office vacancy rate across the Budapest office market has reached a record low of 5.6% in Q4 2019, with total leasing demand throughout 2019 amounting to 637,120 sqm, the highest annual volume on record...

Wed, 22 Jan 2020 12:10:00 GMT
Professor compares eurozone to Hotel California
Eurozone is like Hotel California, where you can check in but never leave, Berkeley Professor Barry Eichengreen said at the National Bank of Hungaryʼs (MNB) 2020 Lámfalussy Lectures Conference.

Wed, 22 Jan 2020 12:00:00 GMT
ÁKK to buy back USD 1 bln of government bonds, says Varga
The Government Debt Management Agency (ÁKK) will be buying back USD 1 billion of high-interest rate government bonds, Finance Minister Mihály Varga told state news wire MTI on Tuesday.

Wed, 22 Jan 2020 11:30:00 GMT
Estonia producer prices decline in December
Estonia’s producer prices declined in December, data from Statistics Estonia (SE) show. The producer price index (PPI) fell 1.2% year-on-year in December, following a 0.9% decline in November.

Wed, 22 Jan 2020 10:45:00 GMT
Banksy exhibition comes to Budapest
After Istanbul, Amsterdam, Antwerp, Melbourne, Auckland, Toronto, Berlin, Bucharest, Cluj-Napoca and Paris, Banksy, the worldʼs most famous graffiti artist, will finally be on display in Budapest, according to a press release sent to the Budapest Bu...

Wed, 22 Jan 2020 10:00:00 GMT
Government communications spending rises to HUF 28.2 bln
Each year the Prime Minister’s Office headed by Antal Rogán spends more on "government communications", which by the end of 2020 may exceed HUF 94.7 billion according to

Wed, 22 Jan 2020 09:30:00 GMT
S&P affirms Russia’s BBB-rating as stable
Standard & Poor said in a report that the outlook of Russia’s "BBB-" credit rating is stable. The agency affirmed Russia’s foreign currency long-and short-term sovereign credit rating at "BBB-/A-3".

Wed, 22 Jan 2020 08:45:00 GMT
Rents in Hungary rise 60% in 12 Years
According to Eurostat, average rents in Hungary have increased by more than 60% between 2007 and the third quarter of 2019, writes Rents have risen higher only in the Czech Republic and Lithuania, with the former rising by almost 80% an...

Wed, 22 Jan 2020 08:00:00 GMT
4th edition of Sirha Budapest coming in February
The fourth edition of the Sirha Budapest International HoReCa and Retail Show will be held between February 4-6 at the HUNGEXPO Budapest Fair Center, according to a press release sent to the Budapest Business Journal.

Wed, 22 Jan 2020 07:30:00 GMT
2/3 of Romanians retire before the legal age
The actual retirement age in Romania is 60 years and 6 months in the case of men and 58 years and 4 months in the case of women, about five years lower than the age limits stipulated by the law, the public pension house told, Romania-insid...

Tue, 21 Jan 2020 15:30:00 GMT
FDI into Bulgaria rises in Jan-Nov
Bulgaria recorded a net inflow of foreign direct investment of EUR 989.2 million in the January-November period of 2019, compared to a net inflow of EUR 521.6 million a year earlier, the country’s central bank says.

Tue, 21 Jan 2020 15:00:00 GMT
ÁKK sells HUF 37.5 bln of 3-month T-bills, over plan
The Government Debt Management Agency (ÁKK) sold HUF 37.5 billion of discount three-month T-bills at auction on Tuesday, raising its original offer by HUF 7.5 bln on continued strong demand by primary dealers, Hungarian news agency MTI reports.

Tue, 21 Jan 2020 14:30:00 GMT
Average accommodation booking value up 8%, says
The average reservation value reached HUF 49,400 last year at commercial accommodations in Hungary, representing an 8% increase year-on-year, according to a press release by online booking portal

Tue, 21 Jan 2020 14:15:00 GMT
Mineral water companies make sustainability commitments
Hungarian mineral water and soft drink makers pledged to increase the share of recycled plastics in bottles to 50% by 2030 and each company will launch their own campaign to popularize the selective collection of beverage packaging, the Hungarian Min...

Tue, 21 Jan 2020 13:50:00 GMT
EPAM Systems becomes 1st tenant of Forest Offices, Debrecen
EPAM Systems, a global product development, digital platform engineering, and digital and product design agency signed a 2,100 sqm new office lease contract in Debrecen’s newly developed Forest Offices last month, real estate firm Cushman & Wakefie...

Tue, 21 Jan 2020 13:30:00 GMT
EIB lending EUR 15 mln to back Bulgarian SMEs
The European Investment Bank (EIB) said on Friday it will expand support of small- and medium-sized enterprises in Bulgaria by providing a EUR 15 million loan to ProCredit Bank Bulgaria, a unit of Germany’s ProCredit Holding.

Tue, 21 Jan 2020 12:50:00 GMT
Prinzhorn unit Dunapack Packaging building plant near Budapest
Austriaʼs Prinzhorn Group has announced the start of preparations to build another packaging materials plant in Hungary, in Dunavarsány, on the outskirts of Budapest, state news wire MTI reports.

Tue, 21 Jan 2020 12:10:00 GMT
11.1% of households unable to pay utility bills on time
Some 11.1% of households in Hungary were unable to pay their utility bills on time in 2018, well above the European Union average of 6.6%, according to a recently released report by statistical agency Eurostat.

Tue, 21 Jan 2020 11:30:00 GMT
Highest EU inflation in December in Hungary, Romania
The euro area annual inflation rate was 1.3% in December 2019, up from 1% in November, according to figures released by Eurostat on January 17. A year earlier, the rate was 1.5%. European Union annual inflation was 1.6% in December 2019, up from 1.3%...