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ÁKK buys HUF 13 bln of bonds at reverse auction

BUDAPEST: The Government Debt Management Agency (ÁKK) bought a combined HUF 13 bln of bonds before maturity at a reverse auction on Wednesday, over the HUF 10 bln plan. ÁKK bought back HUF 1.6 bln of 2016/D bonds, which mature on December 22, 2016. Bids reached HUF 4.6 bln. Average yield was 0.90%, 4 bp under the six-month secondary market ... Read More »

Buchl Hungária completes HUF 416 mln investment

BUDAPEST: Buchl Hungária, a unit of the German company that processes car manufacturer Audiʼs industrial waste, wound up a HUF 416 mln investment, managing director Árpád Gömöry said today, according to Hungarian news agency MTI. The investment was supported with a HUF 150 mln European Union grant. Through the investment the company purchased shredding and briquetting machines and also installed ... Read More »

Hungary factoring market grows 35% in H1

BUDAPEST: Gross turnover of factoring companies in Hungary rose 35% to HUF 550.7 bln in the first half from the same period a year earlier, the president of the Hungarian Factoring Association said today. In 2014, factoring market turnover rose 14%, mainly on the back of a single new bank-owned factor, said Ferenc Csáki. This year, growth is expected to ... Read More »

ÁKK sells HUF 35 bln of three-month bills

BUDAPEST: The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at auction today, in line with the original offer. Primary dealers submitted bids of HUF 48.8 bln for the papers. Average yield was 0.96%, 9 bp over the secondary market benchmark, which matures about two week later, but just 1 bp over the yield at ... Read More »

Hangarian MNB continues cutting, sets base rate at 1.35%

BUDAPEST: The Monetary Policy Council (MPC) the National Bank of Hungary decided at a rate-setting policy meeting today to keep the pace of its easing cycle started in March and cut the base rate with 15 bp to 1.35%, Hungarian news agency MTI reported. The Monetary Council issued guidance for further “slight” easing after the policy meeting in June. Earlier, ... Read More »

Hunagay’s average gross monthly wage HUF 242,700 in May: KSH

BUDAPEST: The average gross monthly wage in Hungary was 242,700 in May, representing year-on-year growth of 3.5%, which was slightly slower than the previous month’s year-on-year growth of 3.6%, data released by the Central Statistical Office (KSH) reveal today. KSH data suggest that average gross earnings were the highest in financial and insurance sectors, at HUF 499,300, and the lowest ... Read More »

ÁKK sells HUF 31.5b of securities at auction

BUDAPEST: The Government Debt Management Agency (ÁKK) sold a combined HUF 31.5 bln of securities at auction on Thursday, less than planned. ÁKK sold HUF 24 bln of discount twelve-month T-bills, under the original HUF 30 bln offer. Primary dealers bid for HUF 37.9 bln of the papers. Average yield was 0.99%, 2 bp over the secondary market benchmark but ... Read More »

Hungarian Béres Gyógyszergyár to invest HUF 3.2b in plant

BUDAPEST: Hungarian pharmaceutical company Béres Gyógyszergyár will invest HUF 3.2 bln at its unit in Szolnok, central Hungary, with HUF 1.6 bln being derived from government funding, Hungaryʼs foreign minister Péter Szijjártó said yesterday, according to Hungarian news agency MTI. Béres will increase production capacity, add 1,600 sqm to its production area and 400 sqm to its logistics warehouse, install ... Read More »

Wittmann Robottechnikai invests HUF 500m in Hungary

BUDAPEST; Austrian-owned Wittmann Robottechnikai completed a HUF 500 mln expansion at its plant in Mosonmagyaróvár, northwestern Hungary, in an investment of adding injection moulding machines to its product palette, Nikoletta Rácz, a company representative, told Hungarian news agency MTI yesterday. According to the representative the current investment doubled production area at the base to 2,500 sqm, and as a result ... Read More »

Budapest office space market falls to almost 14% in Q2- 2015

BUDAPEST: The vacancy rate on Budapestʼs office space market fell 3.4 percentage points to 14.2% in the second quarter from the same period a year earlier, the Budapest Property Consultants Coordination Forum (BIEF) said yesterday. The rate was lowest, at 8.8%, in the south of the Buda side of the capital. The rate was 16.3% along Váci út, one of ... Read More »

Hungarian Wittmann Robottechnikai invests HUF 500 mln

BUDAPEST: Austrian-owned Wittmann Robottechnikai completed a HUF 500 mln expansion at its plant in Mosonmagyaróvár, northwestern Hungary, in an investment of adding injection moulding machines to its product palette, Nikoletta Rácz, a company representative, told Hungarian news agency MTI yesterday. According to the representative the current investment doubled production area at the base to 2,500 sqm, and as a result ... Read More »

Hungarian Béres Gyógyszergyár to invest HUF 3.2 bln in plant

BUDAPEST: Hungarian pharmaceutical company Béres Gyógyszergyár will invest HUF 3.2 bln at its unit in Szolnok, central Hungary, with HUF 1.6 bln being derived from government funding, Hungaryʼs foreign minister Péter Szijjártó said yesterday, according to Hungarian news agency MTI. Béres will increase production capacity, add 1,600 sqm to its production area and 400 sqm to its logistics warehouse, install ... Read More »

Hungaryʼs construction sector output up 2.3% in May: KSH

BUDAPEST: Output of the construction sector in Hungary saw a year-on-year rise of 2.3% in May, decelerating from a y.o.y. growth of 10.8% growth in the previous month, the Central Statistics Office (KSH) said today. In year-on-year terms, the number of newly constructed buildings decreased by 5.0%, while civil engineering works rose by 8.7%, the statistics office said. According to ... Read More »

Hungary’s agricultural producer prices fall 8.1% in May: KSH

BUDAPEST: producer prices in Hungary saw a year-on-year 8.1% fall in May, with prices of crops dropping by 6.7% and prices of livestock and animal products down by 10.4%, the Central Statistics Office (KSH) said today in a first release of data. KSH said that cereal prices decreased by 16% and price of potatoes by 44%, while the price of ... Read More »

ÁKK exchanges HUF 16 bln of bonds at switch auction, less than planned

BUDAPEST: The Government Debt Management Agency (ÁKK) exchanged HUF 16 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 50 bln plan. ÁKK exchanged HUF 4.5 bln of 2024/B bonds for 2017/A bonds and a further HUF 11.5 bln of the 2024/B bonds for 2017/B bonds. Bids by ... Read More »

Hungarian Utilities price cuts save households HUF 334 bln

BUDAPEST; Hungarian government-mandated utilities price cuts in 2013-2014 saved Hungarian households approximately HUF 334 bln, state secretary János Fónagy reportedly said at a press conference today. According to the state secretary, reductions are expected to save a further HUF 240 bln by the end of this year. Hungarian news agency MTI noted that the government earlier mandated the cuts in ... Read More »

Hungarian Travel insurance premiums up 8% to HU 2.4b in Q1-2015

BUDAPEST: Travel insurance premiums saw a year-on-year rise in revenue of 8% in the first quarter of this year, reaching HU 2.4 bln, Hungarian economic daily Világgazdaság said today, citing data from the Hungarian Insurers Association (MABISZ). Demand also saw a rise for supplemental coverage, such as cancellation of travel plans, the paper noted, based on data by MABISZ. Overall ... Read More »

Budapest Bank taps FGS financing for almost HUF 100b of outlays

BUDAPEST: State-owned Budapest Bank has used cheap financing from the second phase of the National Bank of Hungaryʼs Funding for Growth Scheme (FGS) for almost HUF 100 bln of outlays, the lender said today. The bank signed a total of 3,700 contracts for credit. About 60% of the loans were for investments. Read More »

Budapest Airport passenger numbers up 11.8% in June 2015

BUDAPEST: Passenger numbers at Budapest’s Liszt Ferenc International Airport saw a year-on-year rise of 11.8% in June, reaching 966,297, and growing by 11.8% in the first half, Mihály Hardy, the communications director for operator Budapest Airport told Hungarian news agency MTI today. He also noted that take-offs and landings rose by 6.7% and load factor averaged at 81.3%.Hungarian-owned low-cost airline ... Read More »

Hungary’s trade surplus reaches €505 mln in May: KSH

BUDAPEST: Trade surplus in Hungary came to €504.7 mln  in May, with exports climbing 2.5% to €7.216 bln and imports edging down 0.7% to €6.711 bln, a first reading of data released by the Central Statistics Office (KSH) today reveals. The share of European Union Member States was 79% in exports and 76% in imports, KSH said. In January – ... Read More »