Christian Keszthelyi

Deals

Croatia may buy INA back from MOL

The Croatian government is urging talks on a secured loan to buy back shares of oil and gas company INA...

Recycling

Audi to boost production in Hungary

German carmaker Audi is planning to start production of new engine models at its Hungarian Győr-located base, Axel Strotbek, Audi...

Telco

Sematic undertakes HUF 1.6 bln expansion

Italian elevator component maker Sematic has started a HUF 1.6 bln expansion at its Hungarian base in Nyíregyháza, the local...

Sights

Nomura: Despite MNB claims, more interest cuts due

Although National Bank of Hungary’s (MNB) Governor György Matolcsy said yesterday that the surprisingly high cut rates of 20bp are...

EU

MNB cuts rate 20bp – more than expected

The Monetary Council of the National Bank of Hungary (MNB) announced today that it would continue its monetary easing of...

Initiatives

Audi Hungária School starts HUF 5 bln expansion

Government and corporate officials today laid the cornerstone of a HUF 5 bln expansion that will triple the size of...

History

Official: Gov’t to revisit spending freeze in December

The Hungarian government is expected to make decision in December on whether to free up or cancel HUF 110 bln...

Deals

Varga: Budget still on track to hit target deficit

National Economy Minister Mihály Varga reaffirmed the government’s commitment to achieving this year’s GDP deficit target of 2.9%, in an...

Issues

CIB Bank: Borrowers’ relief to cost HUF 20 bln

CIB Bank has set aside HUF 20 bln in the first half of 2014 to pay for compensation that may...

History

Hungary to open two new consulates-general in Germany

Hungary will establish two new consulates-general in Duesseldorf and Stuttgart, Germany, the Hungarian foreign minister said after negotiations with his...

Competition

Unnamed bakery chain fined HUF 4.5 mln

The National Tax and Customs Authority of Hungary (NAV) fined a foreign-owned bakery chain HUF 4.5 mln after it was...

Food

Hungary opens trading house in Macedonia

Hungary opened a trading house in Skopje, Macedonia, today, MTI, the Hungarian news agency, reported. At an official opening ceremony,...

Competition

MKB: FX loan law to cost bank HUF 5.1 bln

The new law requiring banks to compensate borrowers for fluctuations in foreign exchange loans will cost MKB Bank an estimated...

Food

Varga: Personal income tax to stay as is

Although Prime Minister Viktor Orbán expressed hopes of lowering the personal income tax to a single digit figure just a...

MNB

OTP Bank commits to mortgage business

OTP Bank undertook an “unconditional and irrevocable obligation” to its mortgage and leasing units, despite the effects of the recently...

Analysis

Done Well, 4-day Week Could Boost Productivity, Employee Happiness

At face value, a four-day workweek looks tempting for the employee, but what about the employer? It could significantly benefit...

Manufacturing

Ganz Intelligent Solutions Launches new Tech for Transformers

Storied Hungarian manufacturer Ganz has introduced new technology that helps transformers reach their peak performance, saving costs and contributing towards...

Analysis

Banks Enjoy Digital Advances, Serving Increasingly Tech-savvy Customers

If anything, the adage of technology disrupting every industry is amplified in banking. Beyond the usual suspects of AI and...

Analysis

Economic Strains Grow, but Banks Will Weather the Storm

Rising inflation, the escalating energy crisis, interest rate freezes, and extra taxes have increased the strain on banks operating in...

Automotive

Global Energy Crisis Increases Electric Vehicle Expenditure

With motorists eyeing greener transport options, electric vehicles are gaining ground in Hungary. Yet, driving a pure EV has gotten...

Analysis

Chameleon Smart Home Solutions Developer Enters BSE Xtend

Innovative home solutions are rising in Hungary, even if the market lags internationally. Chameleon Smart Home Plc. recently floated its...

Automotive

Investment Prospects from China to Lift Automotive Sector in 2023

2023 comes with a challenging outlook, and the automotive industry seems likely to remain vulnerable to economic headwinds. However, for...

Analysis

SSCs Mature Into GBSs as They Provide Higher Added-value Functions

As shared services centers have graduated to business services centers and now, increasingly, to global business services centers, the industry’s...

Automotive

AutoWallis’s new Partnership, Acquisition Boosts 2023 Business Outlook

In less than 24 hours, the AutoWallis Group announced an acquisition (and hence entrance to anew market) and asustainable energy...

Telco

Consolidating Telcos Battle Challenges as Data Thirst Grows

The consolidating Hungarian telecommunications market is shaped by a handful of drivers mainly fuelled by technological advancement, changing customer behavior,...

Automotive

Speeding Automotive Sector Lifts Industrial Output but Future ‘Uncertain’

The automotive sector, Hungary’s leading manufacturing segment, has shown accelerated growth recently, boosting the headline industrial figure. While the improved...

Sustainability

Green Transition Comes with Challenges, Many Long-term Benefits

As Europe grapples with its energy crisis, more businesses in Hungary are thinking about making their operations greener and more...

Analysis

Challenges Await in Booming IT Integrators’ Market

The pandemic gave a much-needed push for businesses toward digital transformation, which has lifted the profile of IT integrators and...

Automotive

Incentives Boost E-car Adoption but Raise tax Uncertainties

Incentives and benefits created to bolster the broader adoption of electric vehicles are helping lift sales. But as rules and...

Telco

Normalizing 5G Sentiment Opens way to Expanding Services

Even as the Hungarian market is getting used to fifth-generation technology on the residential side of the business, the corporate...

Done Well, 4-day Week Could Boost Productivity, Employee Happiness

At face value, a four-day workweek looks tempting for the employee, but what about the employer? It could significantly benefit...

Ganz Intelligent Solutions Launches new Tech for Transformers

Storied Hungarian manufacturer Ganz has introduced new technology that helps transformers reach their peak performance, saving costs and contributing towards...

Banks Enjoy Digital Advances, Serving Increasingly Tech-savvy Customers

If anything, the adage of technology disrupting every industry is amplified in banking. Beyond the usual suspects of AI and...

Economic Strains Grow, but Banks Will Weather the Storm

Rising inflation, the escalating energy crisis, interest rate freezes, and extra taxes have increased the strain on banks operating in...

Global Energy Crisis Increases Electric Vehicle Expenditure

With motorists eyeing greener transport options, electric vehicles are gaining ground in Hungary. Yet, driving a pure EV has gotten...

Chameleon Smart Home Solutions Developer Enters BSE Xtend

Innovative home solutions are rising in Hungary, even if the market lags internationally. Chameleon Smart Home Plc. recently floated its...

Investment Prospects from China to Lift Automotive Sector in 2023

2023 comes with a challenging outlook, and the automotive industry seems likely to remain vulnerable to economic headwinds. However, for...

SSCs Mature Into GBSs as They Provide Higher Added-value Functions

As shared services centers have graduated to business services centers and now, increasingly, to global business services centers, the industry’s...

AutoWallis’s new Partnership, Acquisition Boosts 2023 Business Outlook

In less than 24 hours, the AutoWallis Group announced an acquisition (and hence entrance to anew market) and asustainable energy...

Consolidating Telcos Battle Challenges as Data Thirst Grows

The consolidating Hungarian telecommunications market is shaped by a handful of drivers mainly fuelled by technological advancement, changing customer behavior,...

Speeding Automotive Sector Lifts Industrial Output but Future ‘Uncertain’

The automotive sector, Hungary’s leading manufacturing segment, has shown accelerated growth recently, boosting the headline industrial figure. While the improved...

Green Transition Comes with Challenges, Many Long-term Benefits

As Europe grapples with its energy crisis, more businesses in Hungary are thinking about making their operations greener and more...

Challenges Await in Booming IT Integrators’ Market

The pandemic gave a much-needed push for businesses toward digital transformation, which has lifted the profile of IT integrators and...

Incentives Boost E-car Adoption but Raise tax Uncertainties

Incentives and benefits created to bolster the broader adoption of electric vehicles are helping lift sales. But as rules and...

Normalizing 5G Sentiment Opens way to Expanding Services

Even as the Hungarian market is getting used to fifth-generation technology on the residential side of the business, the corporate...