ECONOMY

ÁKK sells HUF 40 bln of three-month T-bills at auction, as planned

The Government Debt Management Agency (ÁKK) sold HUF 40 bln of discount three-month T-bills at auction on Tuesday, in line with the original offer, Hungarian news agency MTI reported today.

POLITICS

Rogán proposes raising face value of residency bonds

The face value of special government bonds that accelerate applications for permanent residency by foreign nationals could be raised to €300,000. The proposal was submitted in parliament yesterday by Fidesz parliamentary group chairman Antal Rogán.

BUSINESS

Chinese-Hungarian investment seminar in Budapest

Potential Chinese investors took part in a seminar held yesterday in Budapest by the Hungarian Investment Promotion Agency (HIPA). The event was organised within the framework of the Investment incentive program launched by HIPA in cooperation with the Bank of China.

POLITICS

Hungary, Jordan discuss trade

Hungarian Prime Minister Viktor Orbán met with Jordanian House Speaker Atef Tarawneh in Budapest yesterday, the PM's press chief informed Hungarian news agency MTI.

BUSINESS

Court postpones Sberbank loan contracts decision

The Budapest Municipal Court postponed a decision on contract changes by Russian-owned Sberbank until September 16 at a hearing yesterday.

BUSINESS

Airport-Debrecen at 100,000 passengers this year

Annual passenger numbers at Airport-Debrecen, an international airport in the east of Hungary, reached 100,000 yesterday.

BUSINESS

2,300 firms certified as consumer-friendly

Some 2,300 companies have been awarded a consumer-friendly seal of approval since Hungary's National Consumer Protection Agency (NFH) started acknowledging law-abiding businesses that rank high in terms of customer satisfaction, agency head István Pintér said yesterday.

ECONOMY

170,000 e-tills connected to tax office

Hungarian businesses have started using more than 170,000 tills that communicate directly with the national Tax and Customs Authority (NAV) of Hungary, the National Economy Ministry announced yesterday, a day after the deadline for putting the tills into operation.

BUSINESS

Wizz Air passenger numbers top 15 mln

Hungarian low-fare airline Wizz Air's passenger numbers reached 15 mln in the twelve months to the end of August, a new record, the company announced today.

ECONOMY

New car registrations climb 14% in August

The number of new passenger car registrations in Hungary reached 4,766 in August, up 14.4% year-on-year, the Hungarian Association of Vehicle Importers (MGE) announced today, citing figures from Datahouse.

ECONOMY

Home sales up 27.2% in August

Some 8,978 homes were sold in Hungary in August, up 27.2% from the same period last year, real estate broker Duna House's estimate revealed today.

ECONOMY

Purchasing Managers Index down in August 2014

Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) fell to 51.0 points in August from 56.6 points in July, the index-compiling Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim) announced today.

ECONOMY

Hungarian banknotes to get a revamp

New Hungarian banknotes will be printed in the upcoming period of 2014-2018, the National Bank of Hungary (MNB) announced today, adding that the newly issued banknotes will be harder to counterfeit.

ECONOMY

Tractor sales booming

Sales of tractors climbed 71% to over 3,200 in H1, compared to the same period last year. About 1,800 tractors were sold in the first half of 2013, according to data published by the Hungarian Leasing Association.

BUSINESS

Hungarian-Chinese joint venture to make wine barrels

A new Hungarian-Chinese joint venture will produce oak wine barrels in China. The joint venture is owned by Trust Hungary Zrt. and Chinese Huai Lai Amethyst Manner Co. who signed an agreement yesterday in Budapest. Each company holds 50 % of the shares.

BUSINESS

Bábolna TETRA breeds two new chicken hybrids

Poultry company Bábolna TETRA has bred two new chicken hybrids in a HUF 590 mln project in partnership with the Kaposvár University, the company told MTI on Friday.

BUSINESS

ELMŰ-EMÁSZ revenue falls in H1

Electricity distributors EMÁSZ and ELMŰ had decreased revenue in y.o.y. terms in the first half of 2014, while EMASZ's net profit rose y.o.y. and ELMŰ's declined, the companies' consolidated IFRS reports for the period published on Friday evening show.

BUSINESS

MNB withdraws license of Alba Takarék bank

The National Bank of Hungary (MNB) has withdrawn the operating license of savings cooperative Alba Takarékszövetkezet after an investigation revealed serious deficiencies in the cooperative's functions, the MNB announced on Friday.

ECONOMY

Analysts: Russia-Ukraine conflict hurts forint

Analysts attribute fluctuations in the rate of the Hungarian currency to developments in the conflict between Russia and Ukraine. The forint weakened on Friday morning, nearly reaching 316.5 against the euro before starting to firm.

BUDAPEST

Addressing pervasive work-place discrimination

Around half of all Hungarian workers report experiencing discrimination at work, according to a survey released recently. This compares poorly with Western Europe, where 35% of workers report discrimination. Read the full story from our print edition here.