BUSINESS

Herbro initiates HUF 1 bln hatchery investment

Hungary-based agribusiness Herbro yesterday inaugurated a HUF 1 bln technology investment at its hatchery in Hernád, near Budapest, Hungary’s Ministry of Agriculture reported.

ECONOMY

MNB starts buying Chinese bonds

The National Bank of Hungary (MNB) yesterday announced a decision to invest "a small portion" of its foreign exchange reserves in Chinese government securities, Hungarian news agency MTI reported.

POLITICS

Lázár: Fostered workers to be allowed leave for seasonal employment

The Hungarian government is planning to allow fostered workers temporary leave for seasonal work during the summer months, Cabinet Chief János Lázár said yesterday at his regular weekly press conference.

BUSINESS

Ericsson to open collaborative innovation space in Budapest

Swedenʼs Ericsson announced the opening of a collaborative workspace at its research and development base in Budapest. The "Ericsson Garage" will offer "representatives from operators, academia, start-up companies and players from other industries as well as local communities" a place to innovate, Ericsson said. 

BUSINESS

Metecno to invest €25 mln in Hungary

Buildings material manufacturer Metecno will spend €25 mln to construct two plants in Hungary by the spring of 2017, the managing director of the companyʼs local unit said yesterday. Swedsteel-Metecno managing director Alyyan Nabeel said the first plant, which will make wall and roof coverings as well as drainpipes, will be completed in Q1 2016. 

ECONOMY

Forint fairly stable on interbank market

The forint was trading at 309.36 to the euro late Thursday on the interbank forex market, slightly down from 309.10 late Wednesday. At 309.26 to the euro early Thursday, the forint moved between 308.25 and 309.54, after a more than three-month low at 309.94 Wednesday intraday.

ECONOMY

BUX hovers around breakeven

The Budapest Stock Exchangeʼs main BUX index finished down 0.16% at 22,445.82 Thursday, after rising 1.65% Wednesday. It is up 34.94% from year-end, after losing 10.40% last year.

ECONOMY

Saint-Gobain creates architecture award for Hungarian university students

Saint-Gobainʼs Hungarian group of companies founded a new award for architecture university students on the occasion of its 350th anniversary, the company announced in a press release today.

ECONOMY

Coding competition to open for girls

Skool, an independent Hungarian organization, the University of ELTE and Facebook are jointly organizing a coding competition, entitled Scratchmeccs, for young ladies between the ages of 12-16.

ECONOMY

Deposit insurance fund head to become chief of investor insurance fund

The managing director of the National Deposit Insurance Fund (OBA) will take over operative leadership of the Investor Protection Fund (Beva), Beva announced today.

BUSINESS

Wabererʼs inaugurates HUF 600 mln retreat

Hungarian road haulage company Wabererʼs International today inaugurated a HUF 600 mln corporate retreat on the shores of Lake Balaton, in Balatonvilágos, Hungarian news agency MTI reported.

ECONOMY

The NFM offers tenders to replace old washing machines

The National Development Ministry (NFM) is offering HUF 500 mln non-refundable financial support to replace household washing machines in Hungary, as the continuation of tenders for new refrigerators, freezers, windows and boilers, the ministry said in a press release today.

BUSINESS

C&W renews Budapest Bank’s office lease

Hungarian state-owned Budapest Bank, represented by global real estate advisor Cushman & Wakefield (C&W), renewed a lease for its 8,200 sqm office at Csaba Center in Békéscsaba, Hungary, C&W said in a press release today.

ECONOMY

ÁKK sells HUF 65.5 bln of bonds auction, well over HUF 47 bln plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 65.5 bln of bonds at auction today, well over the planned HUF 47 bln as demand from primary dealers exceeded expectations.

POLITICS

Orbán, Varga meet transport association leaders

Hungary’s Prime Minister Viktor Orbán and National Economy Minister Mihály Varga met leaders of the Hungarian Road Transport Association this morning to discuss the situation in the industry, Orbán’s press chief Bertalan Havasi told Hungarian news agency MTI.

BUDAPEST

Budapest Marriott Hotel offers catering tender

Budapest Marriott Hotel is offering $40,000 in financial support in the form of a tender to contractors interested in opening a catering establishment in the Danube Promenade area, with a total area of 100 sqm, the hotel announced in a press release today.

ECONOMY

KSH: Hungary’s investment volume falls 4.5% in Q1

Investment volume in Hungary saw a year-on-year decrease of 4.5% in the first quarter this year following a y.o.y. growth of 1.9% in the fourth quarter last year, with investments adding up to HUF 816.5 bln at current prices, data published by Hungary’s Central Statistics Office today reveal.

ECONOMY

KSH: Unemployment drops to 7.6%

The April unemployment rate in Hungary was 7.6%, which is 0.5% lower than it was a year ago in April, Hungary’s Central Statistics Office (KSH) said today. These figures count government workers who make less than minimum wage for doing menial public service tasks as being employed.

ECONOMY

Oberbank sees best year ever in Hungary in 2014

Last year, the Hungarian branch of Austrian Oberbank’s profit was "in the millions of euros preceded by a single digit", chairman-CEO Franz Gasselsberger told journalists in Budapest yesterday.

BUSINESS

Moodyʼs assigns (P)Ba1 debt rating to MFB bonds

Moodyʼs Investors Service yesterday assigned a provisional (P)Ba1 long-term foreign-currency senior unsecured debt rating to Hungarian state-owned MFB’s (Hungarian Development Bank) planned Euro-denominated bond issuance, the ratings agency said in a press release.

expert opinion

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