Nicholas Pongratz

Analysis

Share of ‘Training Enterprises’ in Hungary Low in EU Comparison

Around 38% of Hungarian companies met the criteria for classification as "training enterprises" in 2020, one of the lowest ratios...

Banking

Nagy: More Involvement in Insurance Market

Minister of Economic Development Márton Nagy told insurers to expect a "more active regulatory presence" in their market at a...

Deals

Municipal Council Buying Back Stake in Sewage Works

The municipal council of Budapest voted yesterday to buy back a 25%-plus-one-vote stake in the Budapest Sewage Works (FCSM) for...

Tourism

MTÜ Launches Int’l Campaign for Hungarian Spas

The Hungarian Tourism Agency (MTÜ) whis week announced the launch of an international campaign to promote local baths and spas,...

Office Market

Graphisoft Park EGM Clears Shares to Trade in Euros

Shareholders of Graphisoft Park, which owns and operates an eponymous business park in the north of the capital, mandated the...

Figures

Hungary Completes 2022 Census

Hungary's Central Statistical Office (KSH) this week announced the completion of the 2022 census in a release on its website....

Figures

Multiple Sectors Pay Above Average Wages

The value of gross earnings in September exceeded the national economic average of HUF 500,000 in eight sectors, according to...

Automotive

Automotive Industry Experiences Best Q3 on Record

In its survey of the automotive sector's 16 most significant players, EY found that July-September was the best third quarter...

Retail

European Shoppers Reveal Holiday Habits 

During the holiday period, almost half of European customers, 41%, shop primarily in stores, while another 20% also shop online,...

Retail

Penny Market Inaugurates HUF 7 bln Expansion

German-owned discount supermarket chain Penny Market inaugurated a HUF 7 billion expansion of its logistic base in Karcag (165 km...

Energy Trade

Fossil Fuels Still Dominate Energy Mix

Last year, 67.9% of primary domestic energy consumption was provided by primary fossil energy carriers, according to a report by...

Automotive

Domestic Motorcycle Market Grew This Year

The domestic motorcycle market grew by more than one-tenth in the first 10 months of this year, while it was...

Analysis

Companies Unprepared for Cyberattack

According to a regional survey, managers of Hungarian companies are not sufficiently prepared for a possible cyber attack: only 17%...

Retail

Higher Sugar Prices Raising Holiday Candy Costs

Inflationary pressure is also a very serious factor in the confectionery industry since the market price of the sector's most...

Ukraine Crisis

Hungary Against Joint EU Loan for Ukraine

Hungary will continue to support Ukraine financially, but disagrees with the European Union’s initiative of joint borrowing to do so,...

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...