Crisis? What crisis?

Hungary’s top 100 richest people have assets of more than HUF 2,000 billion – enough to build five projects with a cost tag similar to Metro 4.

May I take a look?

In a surprisingly fast move, Parliament accepted an amendment to limit the scope of data accessible to the public just one day after it was proposed by two MPs of governing party Fidesz.

Entrepreneurs for life

Once an entrepreneur, always an entrepreneur; even though they might have encountered huge challenges in starting and growing their businesses, the vast majority of entrepreneurs would do it all over again.

OTP seeks to grow even bigger

While others are looking to bail out from Hungary, OTP Bank is more than happy to pick up the slack thanks to its continued profitability and amassed stock of free liquidity.

Mondelez invests $19 mln at biscuits base

Snack maker Mondelez International, formerly known as Kraft Foods, is investing $19 million at its base in Székesfehérvár to install capacity for Milka brand chocolate biscuit sandwiches, Mondelez Hungaria managing director Iryna Shandaryvska said.

opinion

Tammy Nagy-Stellini

Managing Director, Hays Hungary

Hays Hungary launches 2013 Salary Guide and Market Overview

Your ad

Buy high quality china wholesale electronics, sports, health & beauty, home products and other wholesale products on DHgate.com

TradeBoss.com B2B Marketplace with an International Business Directory , a Middle East Business Directory and a European Business Directory

China Products

ECONOMY

Lithuania’s jobless rate rises modestly in Q1

Lithuania’s unemployment rate edged up to 13.1% in the first quarter from 13% in the fourth quarter, the Department of Statistics in Vilnius said on Friday. The latest figure was notably lower than 7.3% recorded in the first quarter last year.

BUSINESS

ELMŰ-ÉMÁSz profits slip in Q1

First-quarter profits of Hungarian electricity distributors ELMŰ and ÉMÁSz fell from a year earlier as revenue declined, the companies' consolidated IFRS reports published late Friday showed.

BUSINESS

SOCAR plans to build refinery in Turkey

Azeri state energy firm SOCAR plans to borrow about $4 billion from foreign banks to finance construction of a refinery in Turkey.

ECONOMY

Govt halves cap on chimney sweep fees

Hungary's government has decided to reduce the per-unit cap on chimney sweep fees by 50% to HUF 2,000 from July 1, the National Development Ministry said on Friday.

ECONOMY

Jobless rate in Slovenia falls in March

Slovenia’s jobless rate fell 0.2 percentage points to 13.4% in March, the first decrease since September 2012, the Slovenia Times reported Friday citing data from the Statistics Office.

BUSINESS

BayernLB in not hurry to sell MKB

The Bayerische Landesbank (BayernLB) has not given exclusivity to any of the potential buyers of its Hungarian subsidiary MKB bank

BUSINESS

German Gehrlicher Solar secures €85 mln funds for overseas expansion

German photovoltaic corporation Gehrlicher Solar has procured credit facility of €85 million ($109.5 million) for additional two years to fuel its US expansion plans.

BUSINESS

Hungary smartphone penetration reaches 29%

Twenty-nine percent of Hungarians owned smartphones at the end of last year, according to a survey by eNET-Telekom.

ECONOMY

Fitch downgrades Slovenia

Fitch Ratings downgraded Friday Slovenia’s long-term foreign and local currency issuer default ratings to BBB+ from A-, citing the deterioration of the macroeconomic and fiscal outlook, questions over bank recapitalization costs and political uncertainty.

BUSINESS

Pannon-Flax falls further into red in Q1 on rising sales costs, financial-transaction losses

Hungarian textile maker Pannon-Flax had after-tax losses of HUF 54.4 million in the first quarter of 2013, up from after-tax losses of HUF 38.5 million a year ago on increasing cost of sales and financial-transaction losses.

BUSINESS

Russia may cut Rosneft holding to 51%, PM says

The Russian government may cut the state’s holding in Rosneft, the nation’s largest oil company, to 51%, Prime Minister Dmitry Medvedev said on Sunday quoted by RIA Novosti.

BUDAPEST

Budapest plans pedestrian bridges, mayor says

Several pedestrian bridges spanning the Danube could be built in Budapest in the medium term, according to a study recently approved by the city council, mayor István Tarlós said on Thursday.

ECONOMY

IMF sees Cyprus growth in 2015, warns of pitfalls

Cyprus should return to growth in 2015 after three years of deep recession, the International Monetary Fund said on Friday, but will need to ensure that its sweeping austerity program does not slip off the tracks.

BUSINESS

EBRD supports Croatian pharmaceutical packaging producer

The European Bank for Reconstruction and Development will support Croatian pharmaceutical packaging producer Piramida with €3.6 million.

ECONOMY

Net household savings 5.6% of GDP in Q1

The net lending capacity of households - their net financial savings ratio - reached HUF 364 billion in nominal terms, or 5.6% of GDP in the first quarter of 2013, the National Bank of Hungary (MNB) said.

BUSINESS

Autogas sales in Latvia jumps in Q1

Autogas retail sales in Latvia rose 50% in the first quarter, compared to the same period of the last year, reported LETA/Nozare.lv, referring to data from the State Revenue Service.

ECONOMY

German-Hungarian business chamber celebrates anniversary

The German-Hungarian Chamber of Commerce and Industry celebrated its 20th anniversary at an event on Thursday. Speaking at the event, National Economy Minister Mihály Varga said Germany was Hungary's most important trade partner.

BUSINESS

British company plans to open R&D centre in Vilnius

UK’s IDScan Biometrics, a leading European provider of solutions for ID authentication, has chosen Lithuania to establish an R&D unit, wrote news2biz Lithuania.

BUSINESS

EBRD to help Serbia’s private sector

The European Bank for Reconstruction and Development is strengthening the private sector in Serbia by providing loans and leasing finance to small and medium-sized enterprises through local subsidiaries of UniCredit.

BUSINESS

Banks have till Feb 2014 to disburse investment loans under cbank scheme

Lenders who participate in the National Bank of Hungary's "Funding for Growth Scheme" must disburse just 30% of investment loans supported with the 0% refinancing from the central bank during the programme's run, from June 1 until August 30.