BUSINESS

Ustream wins Streaming Media Readers’ Choice Awards

Hungarian-founded online video streaming service Ustream won in the category of “The Best Live Video Platform” as part of the Streaming Media Readers’ Choice Awards this year for the second time in a row. The award, which is distributed by Streaming Media magazine, was voted on by its users.

BUSINESS

CPI Hungary sees an increase of 20%

CPI Group member CPI Hungary (formerly called Ablon) says it sees signs of the office market recovering after an increase of 20% in leased premises in the Business Center 91 Office Building.

ECONOMY

ÁKK raises offer for floater; T-bill yields steady

The Government Debt Management Agency (ÁKK) sold HUF 45 bln of securities at auction on Thursday, HUF 5 bln more than planned.

ECONOMY

MNB puts 2015 general gov't deficit over target

The National Bank of Hungary estimated Hungary's general government deficit would reach 2.5% of GDP next year in an analysis of the 2015 budget bill published today. The projection is slightly over the 2.4% target in the budget bill submitted by the government.

BUSINESS

Masterplast to invest €400,000 in expansion

Masterplast, one of the leading manufacturing and trading companies of thermal insulation materials in the Central- East-European region, announced today that it would be expanding its plant located in Szabadka, Serbia.


BUSINESS

RBI books big loss in Hungary on borrowers' relief legislation

Raiffeisen Bank International (RBI), the parent of Hungarian Raiffeisen Bank, booked a €301 mln loss at its business in Hungary in the first three quartrers, chiefly due to being bound to pay compensation to retail clients under borrowers' relief legislation approved in the summer, an earnings report published today reveals.

BUSINESS

MOL, MVM bid for majority stake in Slovenske Elektrarne

Hungarian oil and gas company MOL announced today that its Slovakian unit Slovnaft and Hungarian state-owned Hungarian Electricity Works (MVM) made a joint non-binding offer for a 66% stake in Slovakia's biggest electric energy company, Slovenske Elektrarne, which is currently owned by Italian ENEL, Hungarian news agency MTI reported. 

ECONOMY

LMP founder pulls stunt at tax office

Founder and former member of the LMP party, Gábor Vágó, and a group of activists filled the Hungarian Tax Authority’s (NAV) customer service office on Dób utca in Budapest yesterday to enquire as to whether tax head Ildikó Vida had resigned yet, nol.hu reported.

ECONOMY

Szijjártó: Russia important partner

Hungary considers Russia an important partner, Foreign Minister Péter Szijjártó said before talks with counterpart Sergey Lavrov in Moscow on Wednesday. This was Szijjártó's first visit to Russia as foreign minister and he said he believes that Russia plays an exceptionally important role in energy supplies to central Europe.

BUSINESS

Exedy announces HUF 7.3 bln expansion in Hungary

Japanese clutch and torque converter maker Exedy Corporation is spending HUF 7.3 bln to expand its base in Hungary, CEO Koji Akita said on Wednesday, according to news agency MTI.

ECONOMY

Simola: MOL's balance sheet is strong, INA sale still an option

MOL has built up a strong balance sheet for acquisitions, while the sale of its Croatian subsidiary, INA, was still an option, József Simola, chief financial officer of Hungarian oil and gas group MOL, said in an interview with CNBC on Wednesday.

BUSINESS

Hungarian state purchase EU funding software company

The Hungarian state closed a deal to buy privately owned software company Welt 2000 Kft., which developed and owns the software that manages the EU tendering processes and distribution of funds, which amount to approximately HUF 1 trillion per year, Hungarian news portal 444.hu reported yesterday.

ECONOMY

Aradszki: South Stream the only option

Hungary aims to start building its stretch of the Russian-backed South Stream gas pipeline next year despite European and U.S. opposition, because it sees the project is the only way to ensure supply, a senior Hungarian government official told Reuters on Wednesday. 

ECONOMY

BUX rise hardly slows

The Budapest Stock Exchange's main BUX index finished up 0.78% at 17,585.79 Wednesday, after rising 0.80% Tuesday. It is down 5.27% from the end of last year, after it rose 2.15% in 2013.

ECONOMY

Forint up on interbank market

The forint was trading at 305.31 the euro late Wednesday on the interbank forex market, up from 305.84 late Tuesday. At 305.75 the euro early Wednesday, the forint moved between 304.39, a six-month high, and 305.92.

POLITICS

PM: Hungary should be loyal to EU, NATO allies

As a member of NATO and the European Union, "Hungary should be loyal to its allies, but take all steps to defend its economic interests stemming from its geopolitical situation," Prime Minsiter Viktor Orbán said in an address to the Hungarian Diaspora Council in Budapest today, according to MTI.

BUSINESS

Spectrum Equity, Accel Partners invest $57 mln in Prezi

Two American growth equity firms, Spectrum Equity and Accel Partners, have invested a combined $57 mln in Prezi, a presentation software company founded by Hungarians, CEO Péter Árvai informed Hungarian news agency MTI.

BUSINESS

Szatmári Malom inaugurates HUF 1.8 bln mill

Szatmári Malom announced the inauguration of a HUF 1.8 bln mill in Kadarta in northwestern Hungary today.

BUDAPEST

Green Social encourages environmental networking

Budapest's seventh Green Social, set for 7pm on Wednesday, December 3, brings together an international group of environmentally minded business people, experts and activists for an informal gathering at the popular Kirakat bar in Budapest.

BUSINESS

Holcim to sell Hungarian unit

Swiss-based building materials company Holcim said it is planning to sell its Hungarian unit as its recent merger with French peer Lafarge placed it in a dominant position in several European regions, Hungarian business daily Napi Gazdaság announced today.

expert opinion

Get yourself connected to stay ahead of the competition

Get yourself connected to stay ahead of competition

Nick Kós

Country Managing Partner at PwC Hungary

Eurolingua Translations Your translation agency in Hungary! 20 years of experience and exceptional quality at the very best prices! Translations for personal use or corporate purposes. Try us now!