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Tag Archives: Hungary’s

Hungary’s BSE index surge to 0.43% to 21,050.9 on Thursday

BUDAPEST: The Budapest Stock Exchangeʼs main BUX index finished up 0.43% at 21,050.59 Thursday after rising 0.24% Wednesday. It is up 32.56% from year-end, after losing 10.40% last year. Sluggish preliminary euro zone purchasing manager (PMI) surveys for April, concerns over Greeceʼs debt crisis, and a sudden rise in US Treasury and German bund yields kept investors on edge. A ... Read More »

Hungary’s central bank to cut 1.95% bases rate next week

BUDAPEST: The National Bank of Hungary’s (MNB) rate-setting Monetary Council to cut the current 1.95% base rate at a policy meeting on Tuesday. One analyst projected a 10 basis point cut. “We currently look for back-to-back 15 basis-point rate cuts through May,” Bank of America Merrill Lynch analysts said in a note, adding that in the rest of the year ... Read More »

Hungary’s MÁV revenue reaches HUF 140b in 2014

BUDAPEST: Hungarian state owned railway company MAVʼs consolidated revenue rose to HUF 140 billion last year, up from the HUF 135 billion reported in 2013, CFO Erzsébet Szikszay Bandofai said yesterday, according to Hungarian news agency MTI. The state took over a portion of MAVʼs debt, reducing the consolidated stock to HUF 152 billion at year-end, Szikszay Bandonfai said. MAV ... Read More »

Hungary’s FHB mortgage bank shows loss of HUF 19.4 billion

BUDAPEST: The bankʼs earnings statement cleared by the board shows an unconsolidated loss of HUF 19.4 bln. The board of FHB Mortgage Bank will propose to shareholders at an AGM on April 28 that no dividend be paid against last yearʼs performance, according to the meeting agenda, Hungarian news agency MTI reported. Read More »

Hungary’s Takarébank, FHB Mortgage banks purchase 40% of JNT security stakes

BUDAPEST: Hungary’s Takarébank and FHB Mortgage banks purchased 40% of JNT Security stakes, which used to be exclusively owned by state-owned postal company Magyar Posta. JNT Security, an armored truck and cash logistics company, is expected to take over a “significant part” of the valuables delivery tasks of Hungaryʼs integrated savings cooperatives, the statement said. Magyar Posta bought a 49% ... Read More »

Hungary’s Magyar Telekom to install 2,500km cable for 4G network expansion

BUDAPEST: Hungary’s Magyar Telekom will connect approximately 440,000 households to its 4G network by installing 2,500 kms of optical cable throughout the country. The company expects to raise 4G coverage to 2.2 million households from the current 1.8 million. The company noted that the gap in quality of internet service between the capital and the rest of the country would ... Read More »

Hungary’s retail sales increase 8.2%

BUDAPEST: The Central Statistical Office’s (KSH) latest report shows that the volume of retail sales in Hungary increased by 8.2% compared to the same period of the previous year in January 2015. The volume of sales rose by 5.7% in food, drinks and tobacco stores, by 12% in non-food retail trade and by 9.4% in automotive fuel retailing adjusted for ... Read More »

Hungary’s jobless rate reaches 7.7% in December- February

BUDAPEST: The Central Statistics Office (KSH) reported that the average unemployment rate in Hungary was 7.7% in December February, down from 8.4% in the same period a year earlier, however, up from 7.4% in November-January. The number of unemployed averaged 345,600 in December-February, up by 15,400 from the previous three-month period and down 24,000 from the same period a year ... Read More »