Hungary
EU moves forward with Article 7 procedure against Hungary
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
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
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
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
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
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
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
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
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
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
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.
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Hungarian rate-setters keep policy unchanged and note downside inflation risks
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
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.
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Hungarian banks’ recovery unlikely to last, Capital Economics says
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
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.