Hungary

EU moves forward with Article 7 procedure against Hungary

bne IntelliNews September 17, 2019

Hungary’s incoming Justice Minister Judit Varga was grilled at the first hearing by EU affairs ministers, as Budapest tries to play down criticism over the rule of law and frame procedure as an attack on its anti-migration policies.

Vehicle exports spur Hungary’s industrial output to 28-month high

Levente Szilagyi in Budapest September 13, 2019

Hungary has become a centre for the auto manufacturing sector, and the surge in output was the result of the low base as the summer shutdown of carmakers led to a sharp decline in output in July 2018.

Hankook postpones capacity expansion in Hungary

bne IntelliNews September 12, 2019

Speculation that South Korean tyre maker's decision to delay €268mn investment at its Hungarian plant is linked to shortage of workforce.

“Airbnb for boats” GetMyBoat reports surge in Southeast European business

bne IntelliNews September 9, 2019

GetMyBoat, which describes itself as the world’s largest “Airbnb (or Uber) for boats” has seen a dramatic surge in business in Central, Eastern and especially Southeast Europe this summer.

Record lending fuels Hungary's banking sector growth

Levente Szilagyi in Budapest September 9, 2019

Hungarian banks reported near-record profit in the first half spurred by an upswing in lending, but the branch of networks continued to shrink, central bank data showed.

Hungarian central bank governor calls for comprehensive stimulus programme

bne IntelliNews September 6, 2019

To continue with catching up to the west, Hungary’s growth needs to outpace the EU average of 2%, says central bank governor Gyorgy Matolcsy.

Hungarian PM's aspirations to designate EU enlargement commissioner fall through

bne IntelliNews September 4, 2019

Viktor Orban's track record in hollowing out democratic institutions and weakening the rule of law likely put pressure on the new European Commission president not to go ahead with nomination of Hungarian ex-justice minister Laszlo Trocsanyi.

Hungary tops OLAF fraud statistics

bne IntelliNews September 3, 2019

The European Anti-Fraud Office carried out the highest number of investigations in Hungary among EU members last year and closed the most cases with recommendations.

Service sector and construction lift Hungary’s Q2 GDP

bne IntelliNews September 1, 2019

The figure was the highest among EU members and well above the 4.7% median estimate.

BRICKS & MORTAR: Corporates turn to flexi workspaces in battle for talent

Clare Nuttall in Glasgow August 30, 2019

Flexible workplaces and co-working spaces, originally the domain of creatives and solo entrepreneurs, are increasingly attractive to larger companies in their quest to attract and retain talent.

US State Department clears $500mn missile deal with Hungary

bne IntelliNews August 29, 2019

The deal would be would be the largest arms procurement since Hungary began its army modernisaton programme in 2017. PM Viktor Orban's government has accelerated efforts to overhaul its ageing weaponry.

Hungarian rate-setters keep policy unchanged and note downside inflation risks

Levente Szilagyi in Budapest August 28, 2019

The central bank affirmed its accommodative monetary stance, adding that downside risks to inflation strengthened amid the worsening external economic environment and decelerating domestic inflation.

Europe still has East-West divide in waste generation

bne IntelliNews August 26, 2019

Despite the recent consumer boom, all but one of the eastern EU members produces less waste than any western member, a new study from Eurostat shows.

Hungarian banks’ recovery unlikely to last, Capital Economics says

bne IntelliNews August 23, 2019

Capital Economics anticipates a slowdown in credit growth as Hungary's central bank is expected to gradually tighten monetary policy and raise rates.

Hungary and Germany mark 30th anniversary of border opening

bne IntelliNews August 20, 2019

Angela Merkel and Viktor Orban put their differences over migration aside to commemorate the opening of the Hungarian-Austrian border, a milestone event in the momentous year of 1989.

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