David Landry

Drinks

Beer sales, output down; excessive excise tax blamed

Beer sales dropped 4.45% year-on-year in 2013, according to statistics compiled by the Association of Hungarian Brewers from top domestic...

Pharma

Ministry predicts 8% to 24% increase in FDI in 2014

Foreign direct investment could reach €2.5 billion to €3 billion in 2014, not including large individual transactions such as transit...

Deals

Croatia PM: INA-MOL dispute could become “arena”

Croatian Prime Minister Zoran Milanović warned in a television interview this week that differences between his country and Hungarian interests...

Telco

KDB confirms Strabag/Swietelsky superlaser center tender win

A consortium of Strabag MML and Swietelsky Magyarország has been officially named the winner of a tender to build a...

Analysis

Windows XP phase-out to cost billions in healthcare

The support termination of the popular Windows XP operating system will likely cost the healthcare system several billion forints, local...

Party Popularity

Election 2014: Fidesz supermajority, LMP seats confirmed

The Fidesz party’s two-thirds parliamentary supermajority in the April general election was confirmed Saturday after the official counting of 99.99%...

Analysis

Inflation in Hungary at 0.1% in March

March 2014 was yet another month of low inflation in Hungary, with the Central Statistics Office (KSH) today reporting consumer...

Music

MNB operating costs to double in 2014

The National Bank of Hungary (MNB) targets operating costs of HUF 29.4 billion this year, the first full year following...

EU

ECJ rules against tax-free exemption for pálinka distillers

Now this one could hurt: The European Court of Justice made official today the long-rumored striking down of a Hungarian...

Tourism

Tourist stays, accommodation revenue up in February

Official figures released by the Central Statistics Office (KSH) today say that in February, accommodation establishments in Hungary saw an...

MNB

MNB to amend Funding for Growth conditions

The National Bank of Hungary (MNB) announced that conditions of its Funding for Growth scheme will be amended as of...

Telco

Trade surplus up €118 million y.o.y.; 80% of exports to EU

The Central Statistics Office (KSH) reported another good month for Hungary’s trade balance in February, though the government’s much-touted “East-facing”...

Competition

ECJ: Firing of data protection director illegal

On the first day after his election victory, Prime Minister Viktor Orbán was reminded of his government’s often tense relations...

Food

IMF, Erste Group forecast Hungary GDP growth in 2014

In its newly-released World Economic Outlook report, the International Monetary Fund (IMF) projects Hungary’s economy will grow by 2.0% in...

Government

Election observers: Opposition given serious disadvantage in 2014

Election observers from the Organization for Security and Co-operation in Europe (OSCE) yesterday held a press conference to summarize findings...

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...