Hungary

Brighter days ahead: The economic bounce back in 2021

Ben Aris in Berlin December 2, 2020

2020 has been one of the worst years in living memory. Worse than 2008. But the global economy should bounce back in 2021 as the pandemic fades thanks to the new vaccines

Central, Southeast Europe stock markets jump in anticipation of COVID-free future

bne IntelliNews December 2, 2020

The main stock markets of Central and Southeast Europe jumped in mid-November on a series of positive news reports of vaccine trial successes that gave hope that an end to the disruption caused by the coronavirus (COVID-19) could arrive within months

Hungarian MEP involved in Brussels lockdown orgy bust

Tamas Szilagyi in Budapest December 1, 2020

MEP Jozsef Szajer, one of the founders of Hungary's ruling conservative Fidesz, tried to flee down a drainpipe when police broke up the illegal gathering of 25 men including several diplomats.

IBM investing €10mn at Hungarian IT centre

bne IntelliNews December 1, 2020

Hungary has become one of the leading international centres of business services in the Central and Eastern European region over the past decade.

Aegon to sell its CEE business to Vienna Insurance for €830mn

Wojciech Kosc in Warsaw November 30, 2020

The transaction follows a difficult first half of the year for Aegon in Hungary, Poland, Romania and Turkey, where insurance markets suffered the impact of the coronavirus pandemic.

Prominent Orban ally who drafted Hungary's new constitution on an iPad retires from politics

Tamas Szilagyi in Budapest November 30, 2020

Departure of Jozsef Szajer and fellow moderate conservative Peter Gottfried a blow to the PM, who is locked in a fierce battle with European leaders after vetoing the EU budget and recovery fund.

Economic sentiment in CEE falls in November as recovery momentum splutters

bne IntelliNews November 30, 2020

Capital Economic’s economic sentiment indicator took a step down in November after a broad-based recovery since April across Central and Eastern Europe (CEE).

VISEGRAD BLOG: An easing of trade tensions but still an uncertain situation for export-oriented Central Europe

Clare Nuttall in Glasgow November 27, 2020

The upcoming Biden presidency in the US is expected to lead to an easing of trade tensions that have been particularly damaging for Central Europe’s small export-oriented economies, but it doesn’t herald a return to the old, globalised world.

Hungary and Poland reaffirm united stance on veto, keeping up pressure on EU

Tamas Szilagyi in Budapest November 27, 2020

Right-wing leaders of Hungary and Poland met in the Hungarian capital to coordinate their strategy after they blocked the EU's €1.8 trillion budget and coronavirus recovery package.

Von der Leyen tells Poland and Hungary to contest rule of law link to EU money in court

Wojciech Kosc in Warsaw November 26, 2020

Warsaw and Budapest are blocking the adoption of the EU’s €1.8 trillion budget for 2021-2027, including the €750bn recovery plan to reinvigorate the bloc’s economy after the coronavirus (COVID-19) pandemic.

MEPs urge European Commission to act against Hungarian media financing in North Macedonia and Slovenia

Valentina Dimitrievska in Skopje November 26, 2020

MEPs suspect “gross interference” in democratic process in North Macedonia by Hungarian companies close to PM Viktor Orban’s inner circle.

Kahoot pays $31mn cash for Tallinn-based Hungarian learning startup

Tamas Szilagyi in Budapest November 25, 2020

The acquisition is part of Kahoot’s strategy to expand into new areas of learning, whether at school, work or home.

George Clooney says Hungarian government lied about his connections to Soros

Tamas Szilagyi in Budapest November 24, 2020

Hungarian government likely to come off poorly from clash with Hollywood actor that puts the international spotlight on its politics.

Rosatom's €12.5bn nuclear plant expansion in Hungary moves forward

Tamas Szilagyi in Budapest November 23, 2020

Hungary's energy regulator MEKH issued an electricity implementation licence for the construction of two new blocks at the Paks nuclear power plant in a fast-track procedure.

Attack of the Debt Tsunami: global debt soars to a new all-time high

Ben Aris n Berlin November 19, 2020

The coronacrisis has sent already record-high levels of global debt soaring to giddying new levels, reports the Institute of International Finance (IIF) in a note released on November 18.

Viktor Orban says he blocked EU budget over migration “blackmail”

Tamas Szilagyi in Budapest November 19, 2020

Hungarian PM's spin doctors claim Budapest is being punished for position on migration as he faces backlash at home and from his neighbours for vetoing EU budget and recovery fund.

Cisco expands cloud-based services with acquisition of high-flying Budapest-based startup

bne IntelliNews November 16, 2020

Takeover of Kubernetes-focused Hungarian startup Banzai Cloud is Cisco's second cloud-native-focused acquisition in two months.

Poland and Hungary block EU budget over rule of law link

Wojciech Kosc in Warsaw November 16, 2020

The unanimity required during the process gives Poland and Hungary some leverage in negotiations but is also risky in case Brussels finds a way of circumventing the defiant duo.

Vehicle production puts Hungary's industry on a stable footing in September

Tamas Szilagyi in Budapest November 12, 2020

Industrial output in Hungary grew 2.2% y/y in September, rising for the first time since February.

Hungarian government submits controversial constitutional amendments after parliament approves state of emergency rules

Tamas Szilagyi in Budapest November 12, 2020

Given emergency powers to tackle coronavirus, government immediately attempts to ban adoption by same-sex couples and change election rules.

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