ECONOMY

KSH: Hungary's PPI down 0.6% in June

Industrial producer prices edged down by 0.6% in June, after declining 1.1% in May, the Central Statistics Office (KSH) reported yesterday.

BUSINESS

Richter revenue outlook worsens slightly

Hungarian drugmaker Gedeon Richter expects its revenue – calculated in euros – to fall 6-7% this year, CEO Erik Bogsch said on Thursday, after the company published second-quarter earnings.

OPINION

Australia’s climate tragedy

Australia’s repeal of its carbon laws is the culmination of some sorry chapters in Australian politics and policy, but is by no means the end of the story.

ECONOMY

Ministry to publish tobacco concessions data

Following a court ruling, the Ministry of National Development is publishing the public information regarding tobacco concessions on August 1, the ministry announced in a press release yesterday.

BUSINESS

Richter Gedeon's Q2 mixed; net profit up

Richter Gedeon, Hungary's largest pharmaceutical manufacturer, reported a 45.3% increase in its second quarter net profit, which was higher than analysts had anticipated, the company announced today.

ECONOMY

E-commerce booms in Hungary

Though electronic commerce reaches only 3% in Hungary as compared to Austria’s 9%, the growth of the e-commerce has been greater than traditional commerce for the past years, CBRE reported yesterday.

BUSINESS

BBJ in print: Investment tips and tourism report

Do you know where to invest in Hungary and what kind of risks to expect now that the base lending rate has hit bottom? Do you know what flooring firm and what fitness guru are planning IPOs on the Budapest Exchange? Do you know how many tourists visit Budapest compared to Balaton? Find out Friday, August 1 in the print edition of BBJ!

ECONOMY

Four new drugs banned

From the beginning of this week “four new psychoactive substances are being included the so-called C list as designer drugs; consequently, the police may initiate the respective proceedings following their confiscation”, the Ministry of Human Resources revealed in its latest publication.

ECONOMY

MNB publishes guideline for FX loan contracts

The National Bank of Hungary (MNB) has published a guideline for recalculating retail loan contracts after legislation voided the use of exchange rate margins.

ECONOMY

MOL protests leak of INA recording

Hungarian oil and gas company MOL on Wednesday expressed its strong disapproval of the leak of a recording of talks it held with the Croatian government over peer INA. Croatian daily Vecernji list published a report on the talks based on the leaked recording. 

BUDAPEST

MOL's green gas station in Buda wins award

A solar powered MOL gas station in Budapest's District XII was awarded the Energy Globe National Award (EGNA), the company reported on Tuesday. 

ECONOMY

KSH: Jobless rate unchanged at 8.0%

The average unemployment rate among Hungarians between the ages of 15 and 74 was 8.0% in April-June, unchanged from the March-May period, the Central Statistics Office (KSH) reported yesterday. 

ECONOMY

ÁKK sells HUF 50.5 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) sold primary securities dealers HUF 50.5 bln of bonds maturing in 2022 and 2023 for papers that run until 2016 at a switch auction on Wednesday, about half of the original offer, Hungarian news agency MTI reported today.

ECONOMY

Number of children could impact pension

The Demographic Roundtable's recent proposal to take the number of children and their attained level of education into account in the calculation of their parents' pension is compatible with the government's family policy, thus Parliament could adopt the proposal in September, Christian Democratic People's Party (KDNP) Parliamentary Group Chairman Peter Harrach told the daily newspaper Magyar Nemzet on Tuesday.

ECONOMY

KSH: Hungarians take fewer domestic trips

Although Hungarians' daily spending rose in 2013, total spending on domestic tourism was little changed from 2012, as both the number of trips and the time spent declined considerably, the Central Statistics Office (KSH) said in its fresh publication. 

POLITICS

House speaker notes centenary of WWI

Europe will only have a future if its nation states are based on Christian morals, creative work and fair international cooperation, House Speaker László Kövér said on Monday, according to hvg.hu.

BUSINESS

Erste: FX law cuts assets by more than 10%

The net assets of Erste Bank Hungary dropped more than 10% by the end of June from the end of 2013 as a result of provisioning made necessary by a recently-passed law on debt relief, the bank announced.

ECONOMY

GVH levies fines of more than HUF 3 bln in H1

Hungary’s Competition Office (GVH) reported on its website that it levied fines of HUF 3.2 bln on offenders in the first half of 2014.

POLITICS

Ombudsman asks gov't to discuss Norway funds

The governments of Hungary and Norway must consult on the interpretation of an existing contract that governs the management of Norway Funds, the ombudsman for basic rights was reported as saying.

BUSINESS

K&H analysis: Enterprise sector improves

Judging by the K&H corporate growth index, the expectations of domestic enterprises improved, K&H Bank reported in its analysis published today. The growth in expectations is chiefly the result of the positive perception of the macro environment, according to the report.

expert opinion

Australia’s climate tragedy

Australia's climate tragedy

by John Connor

The Mark News