Nicholas Pongratz

Retail

Bicycle sales could rise 10-15% this year

Bicycle sales in Hungary could rise 10-15% this year, the head of bicycle makers and sellers association MKKSZ said in...

HR

Teachers’ unions demand higher wages

Hungarian teachers' unions PSZ and PDSZ issued demands for higher wages and a reduced workload for all those working in...

Innovation

Hungarian R&D spending to reach 3% of GDP by 2030

The Hungarian government is supporting R&D activities with several measures, the main goal of which is to reach 3% of...

Parliament approves amendment to Competition Act

Parliament approved the amendment to the Competition Act, according to which in the case of placements of majority state-owned capital...

Banking

Stock of baby support loans at HUF 1.419 tln

Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.419 trillion at the end of August, up HUF...

Manufacturing

Pannonia Bio inaugurates HUF 3.5 bln plant

Biorefinery Pannonia Bio inaugurated a HUF 3.5 billion soil improvement plant at its bioethanol base in Dunaföldvár (90 km south...

Residential

Otthon Centrum sales HUF 2.83 bln in H1

The net sales of the Otthon Centrum Group were HUF 2.83 billion in the first half of this year after...

Competition

KSH announces Stat Wars

The Central Statistical Office (KSH) will hold its Stat Wars Uni statistical competition for university science masters students again this...

Banking

OTP potentially acquiring majority stake in Ipoteka Bank

OTP Bank said yesterday that it signed a non-binding memorandum of agreement regarding the potential acquisition of the majority stake...

Art

1st Statue to Bitcoin Creator Unveiled in Budapest

What is described as the world’s first statue of Satoshi Nakamoto, the mysterious figure behind the creation of Bitcoin, has...

Residential

Renovation subsidies could raise home sales to 160,000

Home purchase and renovation subsidies have supported the real estate market and could help raise the number of home sales...

Government

Emergency Powers Extended, but Vaccines for Sale

The Hungarian government submitted a proposal to Parliament on September 14 to extend the effect of its emergency powers to...

Crops

885 ha of new apple orchards to be planted this year

As part of a plantation planting program, 885 hectares of new apple orchards will be planted in Hungary this year,...

Transport

Szijjártó outlines priorities for rail sector

Minister of Foreign Affairs and Trade Péter Szijjártó said Hungary's railway industry should take advantage of growing cargo volume between...

Banking

PannErgy signs HUF 2.85 bln credit agreement

Listed alternative energy company PannErgy said it entered into a HUF 2.85 billion credit facility agreement with a consortium 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...