BUSINESS

CIG Pannonia shareholders vote to pay no dividend

Shareholders of Hungarian insurer CIG Pannonia decided to pay no dividend at an annual general meeting today. CIG Pannonia had net profit of HUF 82 mln last year, according to Hungarian Accounting Standards. 

BUSINESS

FHB shareholders vote to pay no dividend

Shareholders of FHB Mortgage Bank decided to pay no dividend at an annual general meeting today. FHB Mortgage Bank had a net loss of HUF 19.2 bln last year, according to Hungarian Accounting Standards.

BUSINESS

Carl Zeiss wins tender to supply Szeged superlaser with research microscope

Carl Zeiss Technika has won a tender to supply a fluorescence microscope for a European Union-funded superlaser center in Szeged, southeastern Hungary, the latest issue of the Public Procurement Gazette shows.

ECONOMY

Hungaryʼs fruit, vegetable harvest reaches almost 3 mln tons

Hungaryʼs fruit and vegetable harvest climbed to 2.97 million tons last year, owing to good weather, the head of professional association FruitVeB said today.

BUSINESS

Poli-Farbe turnover climbs 15% in 2014

Hungarian paint company Poli-Farbeʼs turnover climbed by 15% to HUF 9.2 bln last year, with after-tax profit rising by 59% to HUF 874 mln and production volume increasing by 8% to 40,700 tons, managing director Antal Szabó said at a press conference in Budapest today.

ECONOMY

Almost 300 register for anti-brain drain program

Hungaryʼs National Economy Ministry has received 282 applications for participation in a program it launched a week ago to lure young Hungarians working abroad back home, where their skills are needed, Hungarian news agency MTI reported today.

ECONOMY

ÁKK sells HUF 50 bln of three-month bills at auction, as planned

The Government Debt Management Agency (ÁKK) sold HUF 50 bln of discount three-month T-bills at auction today, in line with the original offer. Primary dealers submitted bids of HUF 88.1 bln.

ECONOMY

Association calls for transparency of tobacco shop windows

Hungary’s National Trade Association (OKSZ) proposed that the law regulating retail sales of tobacco products be amended to allow the removal of the cover foil from tobacco shop windows, OKSZ told Hungarian news agency MTI today.

POLITICS

Report: Farming minister could be replaced

It is highly probable that the replacement of Sándor Fazekas, Hungary’s Minister of Agriculture, was on the agenda of the last cabinet meeting, Hungarian online daily Napi Gazdaság reported yesterday, adding that, as the majority of the ministers are currently serving their second term, the transformation of the government has often been on the agenda of late.

ECONOMY

Hungarian-Mexican Business Forum Council meets in Mexico City

Hungaryʼs state secretary for economic diplomacy Levente Magyar co-chaired a meeting of the Hungarian-Mexican Business Forum Council in Mexico City today, Magyar told Hungarian news agency MTI on the phone.

ECONOMY

Gov’t to develop 760 kms of cycle paths in 2014-2020 EU funding period

Cycling-related developments of about 760 kms in length will be implemented in the 2014-2020 European Union funding program period, government portal kormany.hu said on the weekend, citing deputy state secretary Zsolt Becsey. 

BUSINESS

About 400 reports related to Kun-Mediator made to police

Approximately 400 reports have been made to the police in connection with Kun-Mediator, a travel agency that also promised returns on its clientsʼ investments, Zoltán Szabó, the spokesman for the local police headquarters in Szolnok, central Hungary, told Hungarian news agency MTI yesterday.

BUSINESS

Training spots in dual education system set to reach 20,000

The number of training positions with companies in Hungaryʼs dual education system could rise from 8,000 to 20,000 by 2018, deputy state secretary László Odrobina said at a meeting of the Komárom-Esztergom County business chamber on Friday.

ECONOMY

Russians top non-EU buyers of Hungarian real estate

Russians and Chinese are the top non-EU buyers of Hungarian real estate, mainly showing interest in residential developments, daily Magyar Nemzet said on Monday, citing data from the 2014 national statistics gathering program (OSAP). 

ECONOMY

Consumer, business confidence improves slightly in April

GKI-Ersteʼs combined gauge of consumer and business confidence climbed to minus 2.9 points in April from minus 3.6 points in March as both consumer and business expectations improved slightly, GKI announced Sunday. 

ECONOMY

Mecsekérc, AKMI win as sole bidders to do Paks drilling

The Hungarian companies of Mecsekérc Környezetvédelmi and Általános Kultúrmérnöki Iroda Szolgáltato (AKMI) won a tender to conduct preliminary core drilling at the site of the planned upgrade of Hungary’s sole nuclear power plant at Paks, an announcement in the Public Procurement Gazette shows. 

ECONOMY

BUX climbs to new high

The Budapest Stock Exchangeʼs main BUX index finished up 1.79% at 22,821.79, the highest since July 1, 2011, Monday after rising 1.68% Friday. It is up 37.20% from year-end, after losing 10.40% last year. It ended last week up 5.13% over the week after improving 0.83% over the previous week.

ECONOMY

Forint rebounds on interbank market

The forint was trading at 299.98 to the euro late Monday on the interbank forex market, up from 303.44 late Friday and 303.34 late Sunday. At 303.33 to the euro early Monday, the forint moved between 299.51 and 303.96 in the morning, a third one-month low in three days. Over last week, it fell 0.75% versus the euro after sinking 1.31% over the previous week.

BUSINESS

Farewell

Gábor Tordai passed away today after a prolonged illness, leaving behind his loving family, friends and colleagues. He was a pillar in the graphic team of our publishing office.

BUSINESS

MNB orders suspension of trade in TR Investment shares

The National Bank of Hungary (MNB) today ordered the suspension of the trade TR Investment shares for an indefinite period, because the company failed to publish its audited consolidated financial report for 2013, the central bank and market regulator said in a statement.

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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