BUSINESS

K&H Bank: SME sentiment deteriorates

K&H Bank's latest index of SME confidence fell 5 points from the previous quarter to -15 in the fourth quarter of last year due to pessimism regarding taxes and the accessibility of European Union funding, Hungarian news agency MTI reported today.

ECONOMY

MNB buys property at auction for HUF 2.7 bln

The National Bank of Hungary (MNB) today said it had acquired property in the capital's District II at an open auction held by the Hungarian Academy of Sciences (MTA), for the starting price of HUF 2.7 bln, Hungarian news agency MTI reported today.

ECONOMY

ÁKK sells HUF 70 bln of securities at auctions, HUF 10 bln more than planned

The Government Debt Management Agency (ÁKK) sold a combined HUF 70 bln of securities at auctions on Thursday, HUF 10 bln more than planned. ÁKK sold HUF 40 bln of discount twelve-month T-bills, as announced. Primary dealers bid for HUF 58 bln of the securities.


ECONOMY

Report: Hungary’s economic acceleration indicator increases

The Hungarian business daily Világgazdaság-compiled measure of economic and financial indicators entitled Acceleration Indicator (GYIA) rose by a year-on-year 2.78% in January, the paper reported today, following the y.o.y. 0.73% rise in December.

BUSINESS

Constitutional Court rejects request to annul some parts of retail loan contracts law

Hungary's Constitutional Court on Thursday rejected a request to annul some parts of legislation on retail loan contracts. The request was made based on the argument that the legislation violated the principles of the division of power and legal security.

OPINION

Paris Terrorist Attacks: A Godsend for Marine Le Pen?

The deadly Paris attacks earlier this month – carried out by the Kouachi brothers at Charlie Hebdo and by Amedy Coulibaly against a kosher supermarket – were clearly launched in the name of radical Islam.

ECONOMY

Gov't, baker negotiations on prices break down

Representatives of the Hungarian government, the Hungarian Bakers Association and the National Association of Food Processors failed to reach an agreement on the price of baked goods during negotiations yesterday.

BUSINESS

Swiss Krono Group to build €95 mln particle board plant in Hungary

The Swiss Krono Group is set to begin construction this spring on a €95 mln particle board plant in Vásárosnamény, in northeastern Hungary, with the aim of turning out oriented strand board (OSB) from the following spring, board member Max von Tippelskirch said yesterday.

BUSINESS

FHB Bank CEO raises stake in bank to nearly 25%

A64, the asset management company owned by FHB Bank CEO Zoltán Spéder, purchased 2,991,200 FHB shares on January 23, bringing A64's stake in FHB to 16,172,668 shares or 24.597% of voting rights, the lender reported on the website of the Budapest Stock Exchange yesterday.

ECONOMY

Hungary declared free of pseudorabies

Hungary has been declared free of the viral swine disease pseudorabies, also known as Aujeszky's disease, in a unanimous decision by European Union member states, state secretary Robert Zsigó said yesterday.

ECONOMY

Hungarian doctors in search of higher salaries abroad

With doctors’ salaries as much as ten times higher in the U.K, Sweden, Norway and Germany, it’s no surprise that skilled medical professionals are leaving Hungary for greener pastures, the Guardian online reported yesterday. 

BUSINESS

Government: We didn’t initiate talks with RTL

Recent talks between leading TV channel RTL Klub and the government were not in fact initiated by the government, news portal origo.hu revealed yesterday citing unnamed government sources.

BUSINESS

IKEA finds workaround to Sunday closures

In an attempt to circumvent the new legislation forcing shops to close on Sundays, Swedish furniture retailer IKEA has found a fair solution. Rather than lay off staff, it will instead extend store hours throughout the remainder of the week, online news portal vg.hu reported yesterday.

BUSINESS

Hotel in Szarvas Hungary undergoes HUF 370 mln expansion

The Liget Wellness and Conference Hotel located in Szarvas in southeastern Hungary, will expand its premises with a spa and recreation wing to the tune of HUF 370 mln, hotel director Tamás Bogdán told state news agency MTI

BUSINESS

LAplast makes HUF 300 mln upgrade in recycling technology

LAplast Pet Recycler is undertaking a HUF 300 mln technology investment at its base in Tiszaújváros in northeastern Hungary, project manager Gábor Berki said on Wednesday, MTI news agency reported. 

BUSINESS

Smartphone usage on the rise in Hungary

The percentage of Hungarian mobile phone users with smartphones rose almost ten points to 39% last year, according to a representative survey by Kutatópont.

ECONOMY

BUX down, but Germany, monetary policy hopes support

The Budapest Stock Exchange's main BUX index finished down 0.20% at 16,918.99 Wednesday after rising 0.36% Tuesday. It is up 1.71% from year-end, after losing 10.40% last year.

ECONOMY

Forint mixed on interbank market

The forint was trading at 312.78 to the euro late Wednesday on the interbank forex market, down from 311.09 late Tuesday. At 311.27 to the euro early Wednesday, the forint moved between 310.24 and 312.86, after a five-day low of 313.30 Tuesday evening and a nearly seven-week high at 306.44 on Monday intraday. It hit an all-time low at 327.62 on January 15.

ECONOMY

Constitutional court annuls court ruling on MNB fine for market manipulation

The Constitutional Court annulled on Tuesday as unconstitutional a January 2014 court ruling, which declared justified a fine levied by the National Bank of Hungary (MNB) on news portal Napi.hu and daily Napi Gazdaság for illegal market manipulation, Hungarian news agency MTI reported today.

ECONOMY

KSH: Unemployment falls to 7.1%

The unemployment rate in Hungary for individuals between the ages of 15 and 74 fell to 7.1% during the October-December period, down from September-November’s 7.2% and from 9.1% from the same period last year, the Central Statistics Office (KSH) reported today.

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Paris Terrorist Attacks: A Godsend for Marine Le Pen?

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