BUSINESS

Eximbank, Belarus in $10 million credit agreement

The Hungarian Export-Import Bank (Eximbank) and the Development Bank of the Republic of Belarus signed a $10 million purchasing-credit agreement in Budapest yesterday...

ECONOMY

Mild weather helps up construction output 28.3% y.o.y. in February

The Central Statistics Office (KSH) today released some figures showing a pretty decent showing by Hungary’s construction industry in February: To wit, KSH reports a 28.3% year-on-year increase in production for the month over February 2013...

POLITICS

EC advances three infringement procedures against Hungary

The European Commission on Wednesday said it took three infringement procedures against Hungary to the next level. The procedures concern antitrust law for the farm sector, excise duties on spirits and trade of tobacco products...

BUSINESS

MVM Ovit lands HUF 14 billion contract in Jordan

MVM Ovit, a unit of the state-owned Hungarian Electricity Works (MVM), today announced its winning of a nearly HUF 14 billion contract with Jordan’s National Electric Power Company to build a 185-kilometer power line network in Amman... 

BUSINESS

Prezi to release Hungarian-language version of software

BBJ would typically wish Hungary-based SaaS producer Prezi congratulations on reaching its fifth anniversary, but it seems the company is already celebrating in its own fashion: Namely, by releasing a Hungarian-language edition of its increasingly popular presentation software.

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...

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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