Nicholas Pongratz

Transport

Volánbusz fleet adding 164 new CNG buses

A total of 164 new compressed natural gas (CNG) buses will expand the Volánbusz fleet this year, 39 of which...

Retail

Online retail sales up 32% last year

Online retail sales in Hungary increased 32% to HUF 1.203 trillion last year, according to research by GKI Digital and...

Banking

HUF 77.7 bln 2021 profit for MKB Bank 

MKB Bank had an after-tax profit of HUF 77.7 billion in 2021, adjusted for one-offs such as integration costs, up...

Food

Pick concludes HUF 2.6 bln R&D project with Szeged Uni

Hungarian salami maker Pick Szeged and the University of Szeged (170 km southeast of Budapest) wound up a HUF 2.6...

Energy Trade

MOL selling U.K. assets to Waldorf Production

Hungarian oil and gas company MOL yesterday said it agreed to sell all of its upstream assets in the United...

Ukraine Crisis

Ukraine Crisis: NATO to establish multinational battlegroup in Hungary

Minister of Foreign Affairs and Trade Péter Szijjártó said NATO leaders had decided to establish multinational battlegroups on the alliance's...

Analysis

Half of Hungarians believe green switchover a boon

Some 49% of Hungarians believe that the green switchover will be a source of economic growth, compared to 56% of...

Telco

Magyar Telekom board proposes HUF 15 bln dividend

The board of Magyar Telekom (MTel) will propose to shareholders payment of a HUF 15 billion dividend on last year's...

Telco

4iG acquires Albania Telekom Invest

Listed IT company 4iG yesterday said it acquired 100% of the shares of Albania Telekom Invest, which owns 99.899% of...

Banking

Sberbank in talks to sell stake in Croatia’s Fortenova to Indotek

Russian lender Sberbank is in talks to sell its 44% stake in Croatia's largest privately-owned company Fortenova, the successor to...

Energy Trade

Szijjártó dismisses speculation over Bulgaria-Gazprom transit fee dispute

Minister of Foreign Affairs and Trade Péter Szijjártó has dismissed as "fake news" speculation in the media that a dispute...

Ratings

Moody’s downgrades International Investment Bank to ‘Junk’ status

Moody's Investors Service has downgraded the Budapest-based International Investment Bank's (IIB) long-term issuer and senior unsecured debt ratings to "Ba1"...

Transport

Waberer’s income up to EUR 18.1 mln last year

Listed Hungarian hauler Waberer's had a net income of EUR 18.1 million last year, improving from a loss of EUR...

Manufacturing

Mapei expanding capacity for HUF 8 bln 

Italian-owned Mapei Kft. is spending HUF 8 billion to expand capacity at its plant in Sóskút (25 km southwest of...

Food

Kometa 99 Lays Cornerstone for HUF 31 bln Investment

Italian-owned Hungarian meat processor Kometa 99 laid the cornerstone of a HUF 31 billion investment that will boost exports of...

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...