Hungary c/a surplus reaches €232 mln in Oct

Hungary's current-account surplus reached €231.6 mln in October, down from €865.5 mln in September and €263.7 mln in August, data published by the National Bank of Hungary today reveals.
EconomyTuesday, 08:00, December 16, 2014 Read more

KSH: Trade surplus exceeds €373 mln

Hungary’s trade surplus in October exceeded €373 mln, with exports falling by 2.1% to €7.512 bln and imports increasing by 2.3% to €7.139 bln, the Central Statistics Office (KSH) reported in a first reading of data today.
EconomyTuesday, 10:25, December 9, 2014 Read more

Goodfriend: Hungary needs true energy independence

“Hungary's energy independence was threatened by the plan to build a second gas pipeline from Russia, as well as by the aim to boost the role of nuclear energy,” U.S. charge d'affairs André Goodfriend said according to Hungarian daily Népszava. He added that “the United States is working on helping Hungary to create energy independence”.
PoliticsMonday, 10:00, December 8, 2014 Read more

Colleen Bell named U.S. Ambassador to Hungary

The U.S. Senate yesterday voted to approve the appointment of television producer Colleen Bradley Bell as U.S. Ambassador to Hungary. Now she must take her oath of office in Washington DC, and present her credentials to the Hungarian president before beginning service.
PoliticsWednesday, 12:40, December 3, 2014 Read more

Lions and Donkeys: An Inside Account of U.S. Military Mistakes

There’s a story of two Germans discussing their adversaries in the blood-soaked trench combat of the Great War. Gruff General Erich Ludendorff paid tribute: “The English soldiers fight like lions.” “True,” Colonel Max Hoffman replied, “but don’t we know that they are lions led by donkeys.”
OpinionWednesday, 08:00, December 3, 2014 Read more

U.S. envoy urges Hungary-Croatia agreement over INA

A U.S. government representative called on both Croatia and Hungary to reach a consensus over the future of Croatia's oil and gas group INA, a subsidiary of its Hungarian peer, MOL, MTI reported yesterday.
BusinessWednesday, 08:30, November 19, 2014 Read more

Croatia selects mediator for talks with MOL

The Croatian government authorized Economy Minister Ivan Vrdoljak to select a mediator who would help the government's and Hungarian oil and gas company MOL's negotiators to find a solution for INA, Croatian news agency HINA reported today quoting an unnamed source.
Monday, 14:45, November 17, 2014 Read more

Budapest trolley bus purchase contract signed

A HUF 18 bln contract under which the consortium of Skoda and Solaris Bus & Coach will supply 108 new trolley buses for Budapest was signed on Friday, according to Hungarian news agency MTI.
BudapestMonday, 08:55, November 17, 2014 Read more

Current account surplus jumps to €866 mln in September

Hungary's current account surplus reached €866 mln in September, data published by the National Bank of Hungary on Friday shows. The monthly surplus, which means Hungary is owed more than it owes, rose sharply from €264 mln in August and €374 mln in July. 
EconomyMonday, 08:40, November 17, 2014 Read more

Varga: No justification for Tax Authority head’s ban from U.S.

VAT fraud accusations cannot justify banning National Tax Authority head Ildikó Vida from the United States, National Economy Minister Mihály Varga said in an interview with news channel HírTv on Saturday. 
Monday, 08:15, November 17, 2014 Read more

PM: U.S. memo a meaningless 'scrap of paper'

“If it was not in English I would think it was written by the opposition,” Hungary’s Prime Minister Viktor Orbán said this morning in reference to a memo that was reportedly given to the Ministry of Foreign Affairs from the American Embassy.
PoliticsFriday, 09:40, November 14, 2014 Read more

Memo details U.S. corruption complaints

The Hungarian government this afternoon published a document containing a timeline of U.S. Embassy efforts to address corruption in Hungary. The timeline, which was reportedly sent from the embassy to the Ministry of Foreign Affairs and Trade on November 6, describes U.S. complaints about corruption here as far back as February 2012.
PoliticsThursday, 20:20, November 13, 2014 Read more

U.S. Embassy: Our main concern is democracy

In response to the Hungarian foreign minister's charge that America is guilty of a "gross lie" when it accuses Hungary of not abiding by the European legal system, the U.S. Embassy in Budapest released a statement today saying that its main concern is democracy and that it will continue a "constructive" dialogue with the foreign ministry.
PoliticsThursday, 16:10, November 13, 2014 Read more

KSH: Trade surplus hits record in September

Soaring exports helped Hungary post a record-high €952.7 mln trade surplus in September, the Central Statistics Office (KSH) said in a first reading of data today. KSH said exports rose by 5.8% to €7.744 bln, while imports were up by 5.0% at €6.792 bln. The surplus grew by €99 mln as compared to September 2013.
EconomyFriday, 13:10, November 7, 2014 Read more

October surplus cuts ten-month general gov’t deficit to 82.2% of full-year target

Hungary's cashflow-based general government, excluding local councils, had a HUF 35 bln surplus in October, reducing the ten-month gap to HUF 809.6 bln or 82.2% of the full-year target, the National Economy Ministry said in a first reading of data yesterday.
EconomyFriday, 08:35, November 7, 2014 Read more

The U.S., Cuba and Ebola: A Common Enemy

On October 28, the United Nations General Assembly voted overwhelmingly for the 23rd year in a row to condemn the United States’ tough embargo on Cuba as a unilateral interference in free trade. Coincidentally, the UN system is tackling the devastating spread of the Ebola virus in West Africa and urging states to contribute medical and financial resources to stem the outbreak.
OpinionTuesday, 09:00, November 4, 2014 Read more

U.S. against sale of MOL’s INA stakes to Gazprom

The U.S. opposes the sale of MOL’s 49% stake in INA – Croatia’s largest energy company – to Russian energy giant Gazprom, a Reuters’ analysis revealed on Saturday. According to the news agency, U.S. diplomacy is attempting to block the transaction that would allow Gazprom to establish itself within the EU between partly state-owned MOL and partly state-owned INA.
EconomyMonday, 10:25, November 3, 2014 Read more

KSH: Trade surplus revised up

Hungary had a €279 mln trade surplus in August, down €217 mln year-on-year, the Central Statistics Office (KSH) revealed in its second estimate report today. Exports were down 1.7% and reached €7.3 bln. Imports were up 3.9% at €5.7 bln.
EconomyFriday, 13:30, October 31, 2014 Read more

A hostile climate

On October 13, U.S. Secretary of Defense Chuck Hagel delivered a major address on climate security at the Conference of the Defense Ministers of the Americas in Lima, Peru. During his speech, he announced the release of the U.S. Department of Defense’s (DoD) most comprehensive Climate Change Adaptation Roadmap to date.
OpinionFriday, 09:20, October 31, 2014 Read more

Szijjártó meets U.S. managers in Washington

Enjoying a day away from the heat of the U.S.-Hungary fracas about corruption, Hungarian Minister for Foreign Trade and Foreign Affairs Péter Szijjártó met with top officials of U.S. corporations in Washington yersterday.
PoliticsWednesday, 14:20, October 22, 2014 Read more