Nicholas Pongratz

Crops

Farmers Require Extraordinary Subsidies to Ensure Food Supply

Hungarian farmers need extraordinary subsidies from the European Union due to the war in Ukraine and the EU sanctions introduced...

Banking

OTP Bank Buying Ipoteka Bank

OTP Bank yesterday said it signed a contract to buy close to 97% of Uzbek peer Ipoteka Bank from the...

Banking

Number of Bank Branches Shrinking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság....

Initiatives

MOME Launching Reforestation Program

The Moholy-Nagy University of Arts (MOME) is launching a reforestation program in cooperation with three national parks; the strategic agreement...

Deals

Gloster Acquires 51% Stake in G-plus Consulting

Listed IT company Gloster said it acquired a 51% stake in German peer G-plus Consulting, a Tier 1 supplier to...

Banking

Garantiqa Marks 30th Anniversary

Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu....

Debt

General Gov’t Deficit at HUF 3.4 tln

Hungary's cash flow-based general government deficit, excluding local councils, had a HUF 3.466 trillion deficit at the end of November,...

HR

Mercedes Factory in Kecskemét Raising Wages

The Hungarian management of the Mercedes factory in Kecskemét (95 km southeast of Budapest) has agreed on a two-stage wage...

Ukraine Crisis

Football Scarves and Financial Support

Prime Minister Viktor Orbán held a meeting of the Defense Council on November 15 to address rocket blasts that had...

Appointments

AmCham Committee Chair Elected

The American Chamber of Commerce in Hungary has announced that Zsolt Kákosy has been elected chair of AmCham's Workspace and...

Analysis

Google’s Most Searched Terms in Hungary 2022

Google has published its list of the most popular topics in Hungary in 2022, according to profitline.hu....

Analysis

Employment Agencies Augur Slowdown not Recession

According to the expectations of the National Association of Hungarian Employment Agencies (MMOSZ), there will be an economic slowdown next...

Residential

New Home Prices Edge up 3%

New home prices in Hungary could edge up 3% in the coming year, while resale home prices fall close to...

HR

Number of Job Adverts up Minimally

The number of job advertisements placed on allasportal.hu increased minimally, by 280, from November to December, according to a report...

City

No Lit-up Trams This Year

A decade-old tradition has been broken by the fact that no illuminated trams will run in the capital this year,...

Ukraine Crisis

Hungary Again Digs in Heels on EU Accession Clusters

Hungary withheld approval for Ukraine’s next European Union accession clusters for a fifth time, after Prime Minister Péter Magyar rejected...

Ukraine Crisis

Hungarian-Ukrainian Relations Advance, to a Degree

Hungarian-Ukrainian relations advanced on several fronts in August, as President Volodymyr Zelenskyy invited Prime Minister Péter Magyar to Kyiv, Budapest...

Ukraine Crisis

Hungary Again Stalls on Opening Further Ukrainian EU Accession Clusters

Within five days, Hungary twice declined to clear the first procedural step toward opening two further European Union accession clusters...

Ukraine Crisis

Still no Date or Venue for Magyar-Zelenskyy Summit

Hungary’s government ordered an investigation into the Orbán-era seizure of Ukrainian bank assets, lifted a nine-month ban on Ukrainian media...

Ukraine Crisis

Magyar Lifts Veto on European Peace Facility, EU Accession Talks

Prime Minister Péter Magyar lifted Hungary’s two-year veto on European Union arms reimbursements on June 2 and announced a comprehensive...

Ukraine Crisis

Kyiv, Budapest Closer to Minority Rights Agreement

In the concluding weeks of May, Prime Minister Péter Magyar managed to secure EUR 16.4 billion in frozen EU funds...

Ukraine Crisis

Ukraine Makes Reset With Hungary a Foreign Policy Priority

Péter Magyar’s May 9 inauguration as Hungary’s prime minister, formally concluding Viktor Orbán’s 16-year continuous rule, brought an immediate shift...

Ukraine Crisis

Can Tisza Victory Help Budapest and Kyiv Reset Relations?

The European Union has approved a EUR 90 billion loan for Ukraine and unblocked delayed Russia sanctions after Hungary lifted...

Ukraine Crisis

Election Result Offers Hungarian Reset With EU and Ukraine

In what could prove a watershed moment for Hungarian-Ukrainian relations, Péter Magyar’s Tisza Party decisively ended the 16-year rule of...

Energy

Oil, Gas Pipeline Threats Highlight Hungary’s Energy Dependency

With an oil pipeline halted since January, a global price shock from the closure of the Strait of Hormuz, and...

Ukraine Crisis

Fidesz, Tisza Exchange Tit-for-tat Spying Allegations on Foreign Interference

Hungary’s government and opposition traded accusations of serving foreign intelligence services in the final days before the April 12 election,...

Ukraine Crisis

Ukraine Loan Blocked by Orbán, Szijjártó Phone Briefings Raise Eyebrows

Minister of Foreign Affairs and Trade Péter Szijjártó has been accused of covertly briefing Moscow on EU meeting proceedings, prompting...

Ukraine Crisis

Hungary Seizes Ukrainian Cash, Gold from Armored Truck Convoy

Hungary detained seven Ukrainian bank employees transporting USD 40 million, EUR 35 mln, and nine kilograms of gold through Budapest...

Ukraine Crisis

Budapest and Kyiv Trade ‘Blackmail’ Allegations Over Energy Supplies

Hungary intensified its confrontation with Ukraine over halted Russian oil shipments through the Druzhba (ironically, the name translates as “Friendship”)...

Ukraine Crisis

Gov’t Outrage Over Deaths During ‘Forced Conscription’ of Ethnic Hungarians

The death of a second ethnic Hungarian during Ukrainian military conscription processing triggered a series of escalating measures by the...

Hungary Again Digs in Heels on EU Accession Clusters

Hungary withheld approval for Ukraine’s next European Union accession clusters for a fifth time, after Prime Minister Péter Magyar rejected...

Hungarian-Ukrainian Relations Advance, to a Degree

Hungarian-Ukrainian relations advanced on several fronts in August, as President Volodymyr Zelenskyy invited Prime Minister Péter Magyar to Kyiv, Budapest...

Hungary Again Stalls on Opening Further Ukrainian EU Accession Clusters

Within five days, Hungary twice declined to clear the first procedural step toward opening two further European Union accession clusters...

Still no Date or Venue for Magyar-Zelenskyy Summit

Hungary’s government ordered an investigation into the Orbán-era seizure of Ukrainian bank assets, lifted a nine-month ban on Ukrainian media...

Magyar Lifts Veto on European Peace Facility, EU Accession Talks

Prime Minister Péter Magyar lifted Hungary’s two-year veto on European Union arms reimbursements on June 2 and announced a comprehensive...

Kyiv, Budapest Closer to Minority Rights Agreement

In the concluding weeks of May, Prime Minister Péter Magyar managed to secure EUR 16.4 billion in frozen EU funds...

Ukraine Makes Reset With Hungary a Foreign Policy Priority

Péter Magyar’s May 9 inauguration as Hungary’s prime minister, formally concluding Viktor Orbán’s 16-year continuous rule, brought an immediate shift...

Can Tisza Victory Help Budapest and Kyiv Reset Relations?

The European Union has approved a EUR 90 billion loan for Ukraine and unblocked delayed Russia sanctions after Hungary lifted...

Election Result Offers Hungarian Reset With EU and Ukraine

In what could prove a watershed moment for Hungarian-Ukrainian relations, Péter Magyar’s Tisza Party decisively ended the 16-year rule of...

Oil, Gas Pipeline Threats Highlight Hungary’s Energy Dependency

With an oil pipeline halted since January, a global price shock from the closure of the Strait of Hormuz, and...

Fidesz, Tisza Exchange Tit-for-tat Spying Allegations on Foreign Interference

Hungary’s government and opposition traded accusations of serving foreign intelligence services in the final days before the April 12 election,...

Ukraine Loan Blocked by Orbán, Szijjártó Phone Briefings Raise Eyebrows

Minister of Foreign Affairs and Trade Péter Szijjártó has been accused of covertly briefing Moscow on EU meeting proceedings, prompting...

Hungary Seizes Ukrainian Cash, Gold from Armored Truck Convoy

Hungary detained seven Ukrainian bank employees transporting USD 40 million, EUR 35 mln, and nine kilograms of gold through Budapest...

Budapest and Kyiv Trade ‘Blackmail’ Allegations Over Energy Supplies

Hungary intensified its confrontation with Ukraine over halted Russian oil shipments through the Druzhba (ironically, the name translates as “Friendship”)...

Gov’t Outrage Over Deaths During ‘Forced Conscription’ of Ethnic Hungarians

The death of a second ethnic Hungarian during Ukrainian military conscription processing triggered a series of escalating measures by the...