David Landry

Retail

Design change to Rubik’s Cube to compete with knockoffs

Why mess with a classic? Sometimes market conditions make it necessary. In the case of that worldwide-loved product of Hungary,...

Elections

Election ’14: Fót revote ordered; Gypsy Party readies

Though the candidate of opposition coalition of MSzP and Together 2014-Dialogue for Hungary (E14-PM), István Takács, appeared to have won...

Visits

Forint continues dropping; Orbán, base rate cuts blamed

The forint continued its slide against the world’s currencies on Thursday and into Friday, with most analysts citing the ongoing...

Sustainability

Investment volume up 9.8% in 2013

The volume of investments in the national economy increased by 9.8% year-on-year in the third quarter of 2013, the latest...

Banking

PwC: “Fewer big changes” in 2014 tax law

PricewaterhouseCooper Hungary has released some six pages worth of analysis on the tax package for 2014, legislation for which was...

Competition

Government in strategic agreement with Phoenix Mecano

The national government signed a strategic agreement with the local unit of Switzerland-based enclosure and industrial component producer Phoenix Mecano...

EU

MNB governor calls for EU commissioner’s resignation

At a Napi.hu-organized business conference, National Bank of Hungary (MNB) governor György Matolcsy yesterday called for the resignation of European...

Awards

Accenture in agreement to acquire Evopro

Global consulting, technology and outsourcing company Accenture today announced an agreement to acquire the Budapest-headquartered software developers Evopro group. With...

Int'l Relations

Hungary most generous of EU27 in granting citizenship

Eurostat has released its report on resident foreigners in the European Union’s 27 member states, finding Hungary to be tops...

History

Hungary in attempt to restart cattle export to Kazakhstan, Belarus

Agriculture Administration Minister Endre Kardeván has held meetings in Kazakhstan and Belarus this week in an attempt to get Hungarian...

EU

V4 agree on North-South transport links, Albania

Transport ministers from the four members in the Visegrád Four (V4) group of nations (Hungary, Czech Republic, Poland, Slovakia) yesterday...

Food

Morgan Stanley: Funding for Growth scheme efficiency key to Hungarian economy in 2014

Analysis from Morgan Stanley economist Pasquale Diana released yesterday reveals the investment advisory’s take on recent cutbacks in the base...

Awards

Croatia minister: MOL behavior “inconsistent” in INA negotiations

Croatian Economy Minister Ivan Vrdoljak yesterday warned that MOL shareholders could pay a high price for “inconsistent behavior” in a...

Tourism

Unemployment rate drops to 9.8% in October

The Central Statistics Office (KSH) has reported that in August-October 2013, the number of unemployed in Hungary was 434,000, 29,000...

History

MSzP: Betting at tobacco shops makes “National Addiction Shops”

Two more national tobacco shops will install online betting terminals pursuant to the law that established a government monopoly on...

Visits

Hungary: Loving it, leaving it

When I first came here, local folks mostly asked me “Why Hungary?” Now when I tell them I’m leaving, they...

Int'l Relations

Szijjártó declares end of classic diplomacy

Perhaps gearing up for the rumored merging of foreign trade and foreign affairs ministries in a new government composition to...

Party Popularity

EP election: Fidesz, Jobbik tops on low voter turnout

Cruising to a landslide victory in which the governing Fidesz-KDNP coalition garnered 51.5% of the vote, opposition party MSzP and...

Deals

Ablon rechristened as CPI Hungary

Due to the takeover of its Hungarian operations by Czech Republic-based CPI Group in mid-2013, real estate firm Ablon has...

MNB

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

MNB

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

World

Dep. CEO: OTP Bank will not withdraw from E. Ukraine

Following the release of OTP Bank’s first quarter earnings report showing disappointing results due in large part to heavy losses...

MNB

Inflation rate concerns Varga, MNB deputy governor

National Economy Minister Mihály Varga on Thursday said the economy is in “top form” and the country’s fiscal position is...

Int'l Relations

Oslo awaits response from Hungary on suspended grants

Talks between Hungary and Norway on the suspension of funding from the EEA and Norway Grants scheme are not underway...

Automotive

Industrial output in March up 10.6% y.o.y.

Figures released by the Central Statistics Office (KSH) today indicate that in March 2014, industrial gross output in Hungary increased...

Deals

MOL: Report on management of INA “shameful”

Oil-and-gas giant MOL termed “shameful” the report of advisory Oil and Gas Consulting to the government of Croatia on MOL’s...

Initiatives

Epson study considers trends in SME printing habits

A study commissioned by Epson Hungary and undertaken by KutatóCentrum sheds some light on trends in printing among local small-...

Initiatives

Orbán supports Poland plan for EU energy union

Prime Minister Viktor Orbán was in Poland this week to meet with his counterpart Donald Tusk on various issues headlined...

Deals

Nine of 35 banks to contest National Bank fines

Nine lenders, among them Raiffeisen Bank, Erste Bank Hungary and FHB Commercial Bank, are contesting fines by the National Bank...

Pharma

Michelin to close Budapest plant due to “shrinking tire market”

Michelin Hungária today announced the planned closure of its plant in Budapest. Labeling the facility “outdated,” the plant will be...

Hungary: Loving it, leaving it

When I first came here, local folks mostly asked me “Why Hungary?” Now when I tell them I’m leaving, they...

Szijjártó declares end of classic diplomacy

Perhaps gearing up for the rumored merging of foreign trade and foreign affairs ministries in a new government composition to...

EP election: Fidesz, Jobbik tops on low voter turnout

Cruising to a landslide victory in which the governing Fidesz-KDNP coalition garnered 51.5% of the vote, opposition party MSzP and...

Ablon rechristened as CPI Hungary

Due to the takeover of its Hungarian operations by Czech Republic-based CPI Group in mid-2013, real estate firm Ablon has...

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

Debt rises to all-time high, government spins figure

Hungary’s gross consolidated government sector debt, calculated at nominal value, in line with the Maastricht methodology, rose to HUF 24.904...

Dep. CEO: OTP Bank will not withdraw from E. Ukraine

Following the release of OTP Bank’s first quarter earnings report showing disappointing results due in large part to heavy losses...

Inflation rate concerns Varga, MNB deputy governor

National Economy Minister Mihály Varga on Thursday said the economy is in “top form” and the country’s fiscal position is...

Oslo awaits response from Hungary on suspended grants

Talks between Hungary and Norway on the suspension of funding from the EEA and Norway Grants scheme are not underway...

Industrial output in March up 10.6% y.o.y.

Figures released by the Central Statistics Office (KSH) today indicate that in March 2014, industrial gross output in Hungary increased...

MOL: Report on management of INA “shameful”

Oil-and-gas giant MOL termed “shameful” the report of advisory Oil and Gas Consulting to the government of Croatia on MOL’s...

Epson study considers trends in SME printing habits

A study commissioned by Epson Hungary and undertaken by KutatóCentrum sheds some light on trends in printing among local small-...

Orbán supports Poland plan for EU energy union

Prime Minister Viktor Orbán was in Poland this week to meet with his counterpart Donald Tusk on various issues headlined...

Nine of 35 banks to contest National Bank fines

Nine lenders, among them Raiffeisen Bank, Erste Bank Hungary and FHB Commercial Bank, are contesting fines by the National Bank...

Michelin to close Budapest plant due to “shrinking tire market”

Michelin Hungária today announced the planned closure of its plant in Budapest. Labeling the facility “outdated,” the plant will be...