BUSINESS

MVM finalizes purchase of RWE stake in Főgáz

State-owned Hungarian Electricity Works (MVM) today announced the transfer of HUF 41 billion to purchase a 49.83% stake in gas distributor Főgáz from Germany-based utility company RWE. With the transfer and subsequent regulatory approval, the acquisition is reportedly closed...

BUSINESS

KDB confirms Strabag/Swietelsky superlaser center tender win

A consortium of Strabag MML and Swietelsky Magyarország has been officially named the winner of a tender to erect a superlaser center in Szeged with a bid of net HUF 25.9 billion after an appeal from the runner-up...

BUSINESS

Windows XP phase-out to cost billions in healthcare

Another reason to hate Windows: Local media has reported that with 90% of all healthcare-related systems currently saddled with the XP operating system will need have hardware and/or software upgraded, “thanks” to the pulling of Microsoft support, at a reported cost of several billion forints...

OPINION

Manila’s partial case in South China Sea

China is now facing challenges to its maritime claims, as the Philippines has just filed a lawsuit to the International Tribunal for the Law of the Sea against China over a dispute concerning its fishing rights in the South China Sea...

ECONOMY

Vehicle makers boost industrial output in February

A strong performance by Hungary's vehicle manufacturers again continued to lift industrial output in February, a second reading of data published by the Central Statistics Office (KSH) on Monday shows...

ECONOMY

Election campaign remnants to stay

Parties and candidates running for the elections have three weeks remaining to make the remnants of their campaign disappear from public places. In case posters are not removed, the local councils must take steps...

ECONOMY

National Development Ministry: Hungary's gas supply secure

Natural gas supplies are secure according to the statement made by the National Development Ministry on Friday, despite the havoc that Russian president Vladimir Putin’s letter caused.  The Ministry ensured Hungary that there is enough gas sruplus in the storages.

ECONOMY

Analysts: Hungary CPI to accelerate despite soft March data

Hungary's consumer inflation is set to jump higher later this year on the back of base effects stemming from the previous utility price cuts, London-based emerging markets economists said after softer-than-expected CPI data for March had been released on Friday...

POLITICS

Election 2014: Fidesz supermajority, LMP seats confirmed

The Fidesz party’s two-thirds parliamentary supermajority in the April general election was confirmed Saturday after the official counting of 99.99% of valid votes. Also of note was green-centered LMP, the fourth-place finisher in the popular vote, retaining its five seats...

BUSINESS

Burgeoning electric car market on uphill road

After the disappointment of the boom that never came, the market for electric cars is taking a steadier path towards global growth. Hungary is lagging behind other countries, but the government is aware of the situation and private sector involvement here is also giving enthusiasts hope...

ECONOMY

Inflation in Hungary at 0.1% in March

March was yet another month of low inflation in Hungary, with the Central Statistics Office (KSH) today reporting consumer prices increasing by 0.1% year-on-year. Decreased prices in utilities, motor fuels, clothing and consumer durable goods were offset by rises in alcohol and tobacco...

POLITICS

Martonyi: Hungary set to transport gas into Ukraine

Hungary stands ready to transport gas into Ukraine and the technical means for doing so are at its disposal, Foreign Minister János Martonyi has stated, with his ministry further reiterating that “Hungary firmly supports Ukraine’s territorial integrity...”

OPINION

Negotiating uncertainty in Pakistan

With a clear political vision, categorical demands for the release of prisoners, and for space in what it calls its “area of influence,” the banned terrorist outfit Tehreek-e-Taliban Pakistan (TTP) is slowly moving towards securing political legitimacy...

BUSINESS

Infocommunications authority halts media group merger

The competition authority has halted the merger of the Ringier and Axel-Springer media groups until the National Media and Infocommunications Authority (NMHH) takes a stand in the matter, another delay for the transaction amid investigation as to its very legality...

POLITICS

Final vote count could deny Fidesz 2/3, LMP seats

Election news: A final vote tally could put Fidesz below the two-thirds parliamentary previously held and/or eliminate LMP representation altogether; the ruling party and DK announce EU parliament candidates; and Fidesz received a huge majority of ballots cast from abroad -- no, really huge...

ECONOMY

€755 million in EIB financing for Hungary in 2013

The European Investment Bank (EIB) signed €755 million in credit-contracts to finance projects in Hungary in 2013 and 7.4 billion since 2008; the majority of such funding received last year went toward completion of the fourth line of the Budapest subway...

BUSINESS

MNB operating costs to double in 2014

The National Bank of Hungary (MNB) targets operating costs of HUF 29.4 billion this year, the first full year following its merger with financial market regulator PSzÁF last October, a report by the central bank’s supervisory board shows...

POLITICS

ECJ rules against tax-free exemption for pálinka distillers

Now this one could hurt: The European Court of Justice made official today the long-rumored striking down of a Hungarian law exempting taxes on small-scale pálinka production. A reported 15 million liters of the national tipple could be affected...

ECONOMY

Tourist stays, accommodation revenue up in February

Official figures released by the Central Statistics Office (KSH) today say that in February, accommodation establishments in Hungary saw an 11% year-on-year rise in arrivals; international and domestic tourist nights rose 9.2% and 12%, respectively, for the month...

BUSINESS

HUF 170 million logistics base inaugurated

Germany-based fastener maker Ferdinand Gross inaugurated a HUF 710 million (approximately €2.32 million) logistics base in the Tatabánya industrial park in northwest Hungary yesterday...

expert opinion

Manila’s partial case in South China Sea

Shen Dingli

Professor, Associate Dean, Institute of International Affairs,
Fudan University

“Philippines is telling the world an incomplete story...”

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