BUDAPEST

High-altitude pizzeria builds fame and a following

FROM THE MARCH 27-APRIL 9 PRINT EDITION: Beyond the edge of Óbuda, a former news anchor runs a popular bar and eatery that has become a magnet for locals and the media set.

OPINION

An Easy Target: Homophobia For Political Ends

Nigeria’s lively civil society is not known for consensus. So it is striking that every organization, interviewed by Human Rights Watch seems to agree on this: Outgoing president Goodluck Jonathan signed the Same Sex Marriage (Prohibition) Act into law in January 2014 to boost his election prospects and distract his country from its security woes.

OPINION

No Manʼs Land: Women Plan Peace March Across Koreaʼs DMZ

On May 24, 2015, which is International Women’s Day for Peace and Disarmament, 30 women peacemakers from 15 countries plan to walk across the Demilitarized Zone (DMZ) that separates North and South Korea. This will be an important first step in establishing a peace process and supporting Koreans who are working towards reconciliation and hoping to reunite their families.

OPINION

The price of peace: Why war is bad for people but good for business

Some truths are best left unsaid, particularly in polite company. So it came as somewhat of a surprise when an analyst at Deutsche Bank posed the following question to Marillyn Hewson, the CEO of Lockheed Martin, in a recent conference call with investors: “If the U.S. does move toward the normalization with Iran over nuclear activities, does that in any way impede what you see as progress in the foreign military sales front there?” The question carries additional weight now that Iran has agreed to a framework deal that would curb its nuclear activities for the next decade and beyond.

BUSINESS

SAP brings its startup program to Hungary

Software giant SAP is now launching its startup program in Hungary. “Those who enter the program will not only be able to develop individual applications for one of the most well-known big data technology companies, but they will also help applicants take their products to the market” Manju Bansal (pictured), leader of SAPʼs global startup program, told the Budapest Business Journal.

ECONOMY

ÁKK sells HUF 51 bln of bonds at auction, slightly more than planned

The Government Debt Management Agency (ÁKK) sold a combined HUF 51 bln of bonds at auction today, HUF 3 bln more than planned, Hungarian news agency MTI said.

BUSINESS

MNV signs cooperation agreement with Korean peer

The Hungarian National Asset Management Company (MNV) yesterday signed a cooperation agreement with its Korean peer KAMCO, MNV told Hungarian news agency MTI today.

BUSINESS

Competition office fines dietary supplement manufacturer

Hungaryʼs Competition Office (GVH) fined dietary supplement manufacturer Dr. Fachet Egészségügyi és Szolgáltató HUF 1.6 mln on charges of misleading advertising.

ECONOMY

MNB: Forint conversions reduce retail lending stock of Hungarian banks in March

The retail lending stock of Hungarian banks fell significantly in March from the previous month primarily due to the effect of forint conversions and settlements of foreign currency loans between banks and their loan holders, fresh data from the National Bank of Hungary (MNB) shows.

ECONOMY

KSH: Hungary’s PPI down 2.4% in March

Industrial producer prices in Hungary saw a decrease of a year-on-year 2.4% in March, with domestic prices falling 3.4% and exports prices down by 1.8%, the Central Statistics Office (KSH) said today.

ECONOMY

MNB: Corporate lending stock of Hungarian banks fall in March

Corporate lending stock of Hungarian banks fell in March from the previous month as companies made loan repayments and the value of loans diminished, fresh data from the National Bank of Hungary (MNB) shows.

POLITICS

Kovács vows action on Guardian article

The Hungarian government will take “the necessary steps” against UK daily newspaper The Guardian for an article that made “untrue statements” about Prime Minister Viktor Orbán’s comments on the death penalty and illegal immigrants, government spokesperson Zoltán Kovács told MTI late yesterday.

BUSINESS

Syngenta to open financial center in Budapest

Swiss pesticide and seed company Syngenta is planning to launch a European financial center in Budapest in July, which would create 60 jobs for highly qualified staff, the company said in a statement yesterday. 

ECONOMY

BSE shareholders approve HUF 95-per-share dividend

Shareholders of the Budapest Stock Exchange (BSE) unanimously approved payment of a HUF 95-per-share dividend on last yearʼs earnings at an annual general meeting yesterday. The BSE will pay a HUF 514 mln dividend on last yearʼs HUF 520m net profit. 

POLITICS

Govʼt to make free lunch for poor children mandatory during summer break

The Hungarian government is planning the introduction of mandatory free hot lunches for all children from low-income households during the summer break as of next year, Hungarian economic daily Napi Gazdaság reported yesterday. 

ECONOMY

National Mobile Payment Company to test passenger info, e-ticket system

Hungarian state-owned National Mobile Payment Company is developing a unified passenger information and electronic ticket system for multimodal public transport all around the country, Mihály Veres CEO said yesterday. 

BUSINESS

Wabererʼs revenue increases 10% in 2014

Revenue of Hungarian road haulage company Wabererʼs International rose 9.7% to 496.2 mln in 2014, the company told Hungarian news agency MTI yesterday.

BUSINESS

Szentkirályi partners with Italian strategic investor

Hungarian mineral water bottler Szentkirályi Ásványvíz has merged into a joint venture majority-owned by Italyʼs Pasquale family, the owners announced in Budapest yesterday. 

BUSINESS

Wuppermann lays cornerstone of €100 mln steel plant in Hungary

Germanyʼs Wuppermann laid the cornerstone of a €100 mln steel pickling and hot-dip galvanizing plant at the port of Gönyű, northwestern Hungary, on the Danube, yesterday.

ECONOMY

Forint falls further versus the euro

The forint was trading at 302.79 to the euro late today on the interbank forex market, down from 300.93 late yesterdayAt 300.98 to the euro early today, the forint moved between 300.86 and 303.20 after a third one-month low in three days at 304.40 Monday morning.

expert opinion

If you are not growing, you are dying

If you are not growing, you are dying

by Roland Keller

Business Optimisation Expert

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