Gergő Rácz

Initiatives

VAT cut for meat in central budget draft

Hungary’s government is assuming a lower VAT rate for meat when drafting the 2014 budget, National Economy Ministry Mihály Varga...

Debt

Eximbank bond 25% oversubscribed

Subscriptions for a €400 million bond, sold by Hungary's state-owned Magyar Export-Import Bank (Eximbank) on Tuesday, exceeded €500 million, CEO...

Analysis

Business sentiment, consumer confidence up

The GKI-Erste combined consumer/business confidence index rose further in September as both business confidence and consumer expectations improved. The combined...

MNB

Morgan Stanley on MNB key rate: “A bull case”

Cutting the base rate is now not the only, or even the main, form of monetary easing that Hungary's central...

MNB

Government retreats from war on public debt

The government is slackening what has long been one of its core principles of constantly paying off debts seeing it...

Deals

Practically all Hungarian brokers adopting Xetra

Practically all Hungarian brokers are adopting the Xetra trading system that the Budapest Stock Exchange will start using in December,...

Visits

Minister: Food exports could fill gap in trade with Russia

One of the best ways to close the $5 billion gap in Hungary's trade with Russia could be the increase...

History

Varga puts GDP growth at 1.9% for 2014

Economy minister Mihály Varga forecast Hungary's GDP growth in 2014 at 1.9% in an written answer to an MP's question...

Sights

Parliament approves PSzÁF-MNB integration

Parliament yesterday approved legislation that integrates financial supervision into the National Bank of Hungary in the framework of the fifth...

Recycling

Troubled alumina maker MAL lays off 250

Hungarian alumina maker MAL is laying off about 250 people as it ceases processing its own bauxite, liquidator Judit Kemerle...

Construction

Machinery, automotive sectors lift industrial output in July

The machinery and automotive sectors lifted Hungary's industrial output in July, a detailed reading of data published by the Central...

Int'l Relations

Hungary, Bosnia-Herzegovina cooperate to support SMEs

Hungary and Bosnia-Herzegovina signed an agreement on cooperating to support SMEs in the two countries in Sarajevo on Friday, the...

MNB

MVM to borrow €347 million to finance E.ON purchase

An extraordinary general meeting of 99% state-owned Hungarian energy group MVM on Friday unanimously approved a proposal for the company...

Banking

Highest declared 2012 personal income in Hungary falls 20%

The highest declared 2012 personal income in Hungary was HUF 760 million (or €2.63 million at the average exchange forint-euro...

Competition

Competition office accepts Teva commitments

The Hungarian Competition Office (GVH) has accepted the commitments made by Israeli-owned pharmaceutical company TEVA Magyarország to organize an education...

Government

Helping Hungary’s Best Innovators Become Even Better

There is no shortage of innovation in Hungary, with plenty of ongoing research and development, but even the best and...

Analysis

Could Ukraine War Trigger a Meltdown for Paks 2 Project?

Despite the country’s commitment to electricity generation over emission-producing fossil-based energy sources, the prospect of doubling Hungary’s nuclear energy output...

Energy Trade

Is Cabinet Mulling Action on Fuel Costs to Boost Growth?

While 2023 seems to be something of a write-off in terms of economic development for the government, the messaging generally...

Analysis

Wizz Air Faces Challenging Post-COVID Ascent

Low-cost carrier Wizz Air is gradually clawing its way back from the devastating blow dealt by the pandemic to the...

Sustainability

MOL Sets Sights on Self-sustainability

Hungary-based energy multinational MOL has seen troubled times along with its peers, but its latest figures show a significant rebound....

Analysis

Companies Challenged to Crack Code of ESG, Inflation

This year brings familiar but no less troubling concerns for businesses looking to operate in Hungary or across its borders...

Analysis

Country Border Poses High Hurdle for Would-be Hungarian Champions

Exploring and conquering new markets is an obvious means of growth and development for companies; in Hungary, it is also...

Government

Parliament Passes 2024 Budget Despite Many Uncertainties

The government majority has passed the country’s annual budget amidst widespread criticism from the political opposition and numerous doubts voiced...

History

On Hungary’s first 10 years in the new Europe

From the Budapest Business Journal print edition: It’s been 10 years since Hungary became a member of the European Union....

Competition

Punishing times for Hungary’s banks

From the Budapest Business Journal print edition: The deadline is fast approaching when banks will have to fork out a...

Telco

Online music sales climb 50% in Hungary

Online music sales in Hungary rose 50% to almost HUF 500 million last year, data from the Hungarian Association of...

EU

€24 billion net EU funding for Hungary in 2007-2013

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, European...

Food

Analysts: Hungary CPI to accelerate despite soft March data

Hungary's consumer inflation is set to jump higher later this year on the back of base effects stemming from the...

Automotive

Burgeoning electric car market on uphill road

Though still a fledgling niche worldwide, the electric automobile market is expanding and its full potential has yet to be...

Sights

Infocommunications authority halts media group merger

The competition authority has halted the merger of the Ringier and Axel-Springer media groups until the National Media and Infocommunications...

Helping Hungary’s Best Innovators Become Even Better

There is no shortage of innovation in Hungary, with plenty of ongoing research and development, but even the best and...

Could Ukraine War Trigger a Meltdown for Paks 2 Project?

Despite the country’s commitment to electricity generation over emission-producing fossil-based energy sources, the prospect of doubling Hungary’s nuclear energy output...

Is Cabinet Mulling Action on Fuel Costs to Boost Growth?

While 2023 seems to be something of a write-off in terms of economic development for the government, the messaging generally...

Wizz Air Faces Challenging Post-COVID Ascent

Low-cost carrier Wizz Air is gradually clawing its way back from the devastating blow dealt by the pandemic to the...

MOL Sets Sights on Self-sustainability

Hungary-based energy multinational MOL has seen troubled times along with its peers, but its latest figures show a significant rebound....

Companies Challenged to Crack Code of ESG, Inflation

This year brings familiar but no less troubling concerns for businesses looking to operate in Hungary or across its borders...

Country Border Poses High Hurdle for Would-be Hungarian Champions

Exploring and conquering new markets is an obvious means of growth and development for companies; in Hungary, it is also...

Parliament Passes 2024 Budget Despite Many Uncertainties

The government majority has passed the country’s annual budget amidst widespread criticism from the political opposition and numerous doubts voiced...

On Hungary’s first 10 years in the new Europe

From the Budapest Business Journal print edition: It’s been 10 years since Hungary became a member of the European Union....

Punishing times for Hungary’s banks

From the Budapest Business Journal print edition: The deadline is fast approaching when banks will have to fork out a...

Online music sales climb 50% in Hungary

Online music sales in Hungary rose 50% to almost HUF 500 million last year, data from the Hungarian Association of...

€24 billion net EU funding for Hungary in 2007-2013

Preliminary data indicates that Hungary received net European Union funding of €24 billion during the EU’s 2007-2013 budgetary cycle, European...

Analysts: Hungary CPI to accelerate despite soft March data

Hungary's consumer inflation is set to jump higher later this year on the back of base effects stemming from the...

Burgeoning electric car market on uphill road

Though still a fledgling niche worldwide, the electric automobile market is expanding and its full potential has yet to be...

Infocommunications authority halts media group merger

The competition authority has halted the merger of the Ringier and Axel-Springer media groups until the National Media and Infocommunications...