Finance

MNB

IMF warns of risks in financial markets

Fallout from this year’s US home mortgage crisis will likely continue for some time and could further slow global economic...

MNB

Hungary second biggest CEE spender

Hungary took advantage of the second largest amount, €3.9 billion ($5.49 billion) out of Central Eastern European members from EU...

Banking

Russia’s tax service to establish inspections of top businessmen

The Russian Federal Tax Service will soon establish a trans-regional tax service for inspections of the country’s top businessmen, a...

MNB

The long gold boom

After reaching their highest level since 1980, gold prices may be due for a correction soon, but that could help...

Banking

Hungary: Mining taxes to increase, but how much?

Socialist MPs are planning to come up with a modification of the mining law, which would affect the public budget,...

Banking

Hungary: Hajdúnánás Lux factory for sale

Liquidation of Hajdúnánás Lux Component Manufacture Kft started on June 28 - reports daily Napi Gazdaság....

MNB

S&P warns of public financing troubles ahead

International loan rating institute Standard & Poor’s issued its annual analysis, in which the company warns the most developed countries...

MNB

Gazprom Neft to borrow up to $2.2 bln for expansion

Gazprom Neft, Russian gas giant Gazprom’s oil division, said Wednesday it was set to secure a three-year syndicated loan worth...

MNB

Liquidity crisis hits Kazakhstan hard

So far, Kazakhstan has been the developing country hardest hit by the international crisis in liquidity, because of which Western...

Banking

Hungarian tax reforms will call for cutting deductions

Avoiding a decrease in budget incomes while implementing tax reforms aimed at reducing the tax burden can only be managed,...

MNB

Fed cuts key interest crude prices set another record high

The US Federal Reserve decided on Tuesday to cut a key interest rate by a half percentage point to 4.75%...

MNB

Investment banks ‘to lose $30 bln’

World investment banks are set to reveal they have lost about $30 billion from bad debts linked to the global...

Ratings

Rating agencies warn Baltic states over account deficits

Latvia and Estonia were on Wednesday hit with a new warning from credit rating agencies for running excessive current account...

MNB

EU support for biomass boiler silos

Purchases of biomass boiler silos will be subsidized by the Ministry of Agriculture and Regional Development (MVM) as a result...

MNB

ECB pumps €75 billion into European money market

The European Central Bank (ECB) announced Wednesday it was pumping €75 billion ($105 billion) into the market in a renewed...

Banking

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...