BUSINESS

Online music sales climb 50% in Hungary

Online music sales in Hungary rose 50% to almost HUF 500 million last year, data from the Hungarian Association of Record Publishers (MaHaSz) show...

ECONOMY

€24 billion net EU funding for Hungary in 2007-2013

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, with some 99.8% of public investments financed from EU funds...

BUSINESS

Beer sales, output down; excessive excise tax blamed

Beer sales dropped 4.45% year-on-year in 2013, according to statistics compiled by the Association of Hungarian Brewers from top domestic producers, and output was down 2% y.o.y. to 6.185 million hectoliters.

ECONOMY

Ministry predicts 8% to 24% increase in FDI in 2014

Foreign direct investment could increase up to 24% year-on-year to €3 billion in 2014, not including large individual transactions such as transit investments or state purchase of energy companies, according to the National Economy Ministry...

BUSINESS

Registered businesses up just 1.2% y.o.y. for 2013

The number of registered business entities in Hungary rose 1.20% year-on-year to 1,827,692 in 2013, according to statistics released by the Central Statistics Office (KSH). The data show 112,999 new businesses were registered last year and 91,702 were deregistered...

POLITICS

Croatia PM: INA-MOL dispute could become “arena”

Croatian PM Zoran Milanović warned in a television interview this week that differences between his country and Hungarian interests over Croatia-based oil-and-gas company INA threaten to become an “arena” for “a war in which I don't want to fight...”

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...

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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