Hungary

Hungarian central bank buys 2,300 bars of gold, raises gold reserves ten-fold

bne IntelliNews October 17, 2018

Hungary's central bank talked earlier of the need to keep gold reserves at a location that "ensures safety in case of geopolitical crises”.

Romania ranked worst among EU countries on Social Progress Index

bne IntelliNews October 16, 2018

Romania’s low scores, in particular for water, sanitation and public health, reveal deficiencies in the distribution of economic growth and public spending, report's author says.

Hungarian government to abruptly phase out home savings funds

bne IntelliNews October 16, 2018

Hungarians are rushing to sign up for new contracts ahead of a parliament vote expected to take place on October 16.

Albania beats EU nations on renewable energy

bne IntelliNews October 10, 2018

Latvia has emerged as the continent’s biogas generation leader, Eurostat data show, while former laggard Hungary has boosted investment into renewables in recent years.

Croatia posts highest increase in insolvencies in CEE in 2017

bne IntelliNews October 9, 2018

The surge is explained by the current bankruptcy law, under which the National Financial Agency is obliged to start bankruptcy proceedings for any company whose accounts have been blocked for more than 120 days, Coffee study finds.

Hungary's residency bond programme cost taxpayers €92mn

bne IntelliNews October 9, 2018

Budapest had no reason to raise finance "from residency bonds sold to rich foreigners", as it could have raised funds from the market at more favourable rates, says damning report from Transparency International and FRIB.

UK foreign secretary alienates CEE by likening EU to Soviet Union

Wojciech Kosc in Warsaw October 2, 2018

Jeremy Hunt scores own goal as he angers politicians in countries that had been advocating a lenient approach to Brexit.

Further delay to Paks nuclear power plant expansion

bne IntelliNews October 1, 2018

Russian Rosatom, which is expanding the power plant in Hungary's biggest ever investment project, received no valid bids to extend Paks' cooling canal system.

Russian-Hungarian consortium inks €1bn rolling stock deal in Egypt

Levente Szilagyi in Budapest September 27, 2018

Transmashholding-Hungary will deliver 1,300 passenger carriages to Egyptian National Railways, which is overhauling the countryʼs old railway system.

Slovenia leads CEE/SEE region in R&D spending

bne IntelliNews September 26, 2018

The tiny Adriatic nation's R&D spending is the highest in the region relative to the size of its economy, European Commission data shows.

Orban's private jet use causes controversy

bne IntelliNews September 26, 2018

Hungarian PM frequently used a Bombardier luxury private jet to attend football matches, trips organised by an oligarch who won a streak of lucrative state contracts.

Romania's VAT collection rate weakest among EU-28

bne IntelliNews September 25, 2018

Romania was the only EU member state to see VAT collection contract, despite a cut in its effective VAT rate.

Hungary's leading mineral water producer to double production capacity

Levente Szilagyi in Budapest September 24, 2018

New plant and bottling line opened in central Hungary, as the owner of iconic brand Szentkiralyi pursues regional expansion in cooperation with sector rival Kekkuti.

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