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Hungary’s industrial output up 9.5% in November

BUDAPEST: Industrial output in Hungary increased by a year-on-year 9.5% in November, according to a first release of data published by Hungary’s Central Statistical Office (KSH) this morning. As compared to the same month of the previous year, the index adjusted for working days increased by 7.0%, KSH data show. Output was up by a year-on-year 7.3% in the first ... Read More »

Hungary signs for EIB loan for €500 million

BUDAPEST: Hungary signed for a €500 mln loan from the European Investment Bank (EIB) on Monday, state news agency MTI reported yesterday. The agreement was signed by EIB Vice President László Baranyay and National Economy Minister Mihály Varga. Varga said the preferential credit would make co-financing for European Union funded projects easier. Baranyay said the credit would support some €9 ... Read More »

Hungary Maastricht debt reaches 77.6% of GDP at end-Q1 of 2015

BUDAPEST: Hungaryʼs gross consolidated general government debt, calculated at nominal value, in line with Maastricht methodology, reached 77.6% of GDP at the end of the first quarter, down from 82.3% twelve months earlier, but up from 76.9% at the end of last year, a second reading of data released by the National Bank of Hungary (MNB) today reveals. Preliminary data ... Read More »

Hungary’s ÁKK sells HUF 30b of three-month bills at auction

BUDAPEST: The Government Debt Management Agency (ÁKK) sold HUF 30 bln of discount three-month T-bills at auction today, in line with the original offer. Primary dealers submitted bids of HUF 57.1 bln. Average yield was 1.01%, 2 bp under over the secondary market benchmark, and 4 bp under the yield at the previous auction of the bills one week earlier. Read More »

Hungary’s IT Services to add 400 jobs

BUDAPEST: Service center operator IT Services Hungary, a member of T-Systems and owned by Deutsche Telekom, expects to make at least 400 new hires in Hungary this year, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference today. IT Services Hungary currently employs more than 4,000 people in four cities in Hungary, the foreign minister said, ... Read More »

ÁKK sells HUF 40b of 3month bills at auction

BUDAPEST: The Government Debt Management Agency (ÁKK) sold HUF 40 billion of discount three-month T-bills at auction yesterday, in line with the original offer, Hungarian news agency MTI said. Primary dealers submitted bids of HUF 92.4 billion. Average yield was 1.32%, 1bp over the secondary market benchmark, and 7 bp under the yield at the previous auction of the bills ... Read More »

Hungary shortlists for Jaguar Land Rover plant

BUDAPEST: U.K.-based carmaker Jaguar Land Rover (JLR) is finalizing plans for its new Eastern European plant and has drawn up a shortlist of four host countries: Poland, Slovakia, Czech Republic and Hungary, the Financial Times reported on Saturday. JRL bosses have already named two specific areas in these four countries: one near Győr, northwestern Hungary, which would allow the company ... Read More »

Hungary GDP per capita remains 66% of average for EU states

BUDAPEST: Hungaryʼs GDP per capita, adjusted for purchasing power, was 66% of the average for all 28 European Union member states in 2013, a report released by Eurostat yesterday reveals. The data show the level was 108% of the EU28 average in central Hungary, where the countryʼs capital is located, but just 42% in the underdeveloped north and Great Plains ... Read More »

MNB fines three financial institutions HUF 7.5m

BUDAPEST: The National Bank of Hungary (MNB) fined MKB Bank HUF 4 million, Aegon Magyarország Hitel HUF 1 million and UCB Ingatlanhitel HUF 2.5 million on charges of missing the deadline for sending a portion of their foreign currency loan settlement letters to customers, the central bank told Hungarian news agency MTI today. Financial institutions had between March 1 and ... Read More »

Paks port to be developed for HUF 2.5b

BUDAPEST: The Paks port on the Danube, near Hungaryʼs sole nuclear power plant, is expected to undergo developments worth HUF 2.5 bln, largely supported with European Union funds, Tamás Németh, managing director of the company that owns the port, said yesterday. According to the managing director the facility could play an important role in the expansion of the Paks nuclear ... Read More »

Hungary GDP per capita remains 66% of average for EU states

BUDAPEST: Hungaryʼs GDP per capita, adjusted for purchasing power, was 66% of the average for all 28 European Union member states in 2013, a report released by Eurostat yesterday reveals. The data show the level was 108% of the EU28 average in central Hungary, where the countryʼs capital is located, but just 42% in the underdeveloped north and Great Plains ... Read More »

Hungary GDP per capita two-thirds of E28 average, adjusted for purchasing power

BUDAPEST: Hungaryʼs GDP per capita, adjusted for purchasing power, was 66% of the average for all 28 European Union member states in 2013, a report released by Eurostat yesterday reveals. The data show the level was 108% of the EU28 average in central Hungary, where the countryʼs capital is located, but just 42% in the underdeveloped north and Great Plains ... Read More »

Hungary GDP per capita two-thirds of E28 average, adjusted for purchasing power

BUDAPEST: Hungaryʼs GDP per capita, adjusted for purchasing power, was 66% of the average for all 28 European Union member states in 2013, a report released by Eurostat yesterday reveals. The data show the level was 108% of the EU28 average in central Hungary, where the countryʼs capital is located, but just 42% in the underdeveloped north and Great Plains ... Read More »

Hungary leasing market swells by 20% in Q1-2015

BUDAPEST: The value of leases in Hungary increased by more than 20% to HUF 107 billionin the first quarter as compared to the same period in 2014, the Hungarian Leasing Association said yesterday, Hungarian news agency MTI reported. The value of leases for production equipment was up 36% at HUF 57 bln. Association members signed more than 18,000 new contracts ... Read More »

Hungary leasing market swells by 20% in Q1-2015

BUDAPEST: The value of leases in Hungary increased by more than 20% to HUF 107 billionin the first quarter as compared to the same period in 2014, the Hungarian Leasing Association said yesterday, Hungarian news agency MTI reported. The value of leases for production equipment was up 36% at HUF 57 bln. Association members signed more than 18,000 new contracts ... Read More »

Hungary plans to open trading house in Serbia

BUDAPEST: The Hungarian National Trading House (MNKH), established by the Hungarian state to explore opportunities for Hungarian companies on foreign markets, will open an office in Belgrade this year, MNKH executive in charge of the Western Balkans László Szabó said yesterday, Hungarian news agency MTI reported. Two new offices are also set to open in Subotica and Novi Sad, northern ... Read More »

Jordan, Hungary exports reaches JD2m, increases trade cooperation

AMMAN: Jordan Europe Business Association (JEBA) President Issa Murad and Hungarian ambassador to Jordan Csaba Czibere met Tuesday to discuss expanding economic and trade cooperation among private sector institutions in the two countries. Murad said cooperation between both countries’ private sectors are wide ranging and can be used for establishing joint investments and focus on the advantages and expertise offered ... Read More »

Hungary’s OTP to pay HUF 170b on borrowers’ relief

BUDAPEST: Hungary’s OTP Bank expects rebates and refunds due under borrowers’ relief legislation as well as the effect of the conversion of FX mortgages into forints to add up to HUF 170 bln, deputy-CEO László Bencsik said at a press conference today, according to Hungarian news agency MTI. The deputy-CEO noted that OTP has already awarded clients HUF 111 bln ... Read More »

Hungary plans to open trading house in Serbia

BUDAPEST: The Hungarian National Trading House (MNKH), established by the Hungarian state to explore opportunities for Hungarian companies on foreign markets, will open an office in Belgrade this year, MNKH executive in charge of the Western Balkans László Szabó said yesterday, Hungarian news agency MTI reported. Two new offices are also set to open in Subotica and Novi Sad, northern ... Read More »

Hungary’s BUX up 0.05% at 22,742.94 on 8th May

BUDAPEST: The Budapest Stock Exchangeʼs main BUX index finished up 0.05% at 22,742.94 Friday, after falling 0.52% Thursday. It is up 36.73% from year-end, after losing 10.40% last year. With euro zone markets already picking up sharply, the Budapest parquet only pared losses in the afternoon and reached a meagre gain in close. Market sentiment is still volatile after earlier, ... Read More »