Finance

MNB

One bad summer doesn’t make a recession

Yet again, Markets take a battering in stormy weather, but one bad summer doesn’t make a recession. In 1987, it...

MNB

Romania gets ready

Romania’s budget recorded a small deficit in the H1 of the year, but is likely to run close to the...

MNB

Moody’s backs continued reforms in Hungary

Through increasing taxes and reducing price support the budget could be consolidated, at the same time, surprisingly, the economic growth...

Banking

Russneft owner confirms company up for sale

The president and owner of the Russneft oil company, Mikhail Gutseriyev ranked 31st richest man in Russia by Forbes, has...

MNB

Forecasts say inflation will drop to 4.5% – Hungary

In a joint prognosis, GKI Economic Research Zrt and Erste Bank Nyrt forecast that economic growth will be slower in...

MNB

IMF warns and applauds

IMF executives congratulated Hungary for addressing the budget deficit and for reestablishing credibility. However, they emphasized that the task at...

Banking

Tax department: successful operation

Revenues registered by tax authority APEH amounted to Ft 4.012 billion ($22.3 billion) in the first 6 months of 2007,...

Banking

Court upholds $145 mln tax claim against crude producer RussNeft

The Moscow Arbitration Court upheld Tuesday a decision by the Russian Federal Tax Service to charge 3.7 billion rubles ($145...

MNB

Deutsche Bank to grant $470 mln loan to Russian developer STT

Deutsche Bank will grant 12 billion rubles ($470 million) to Russian developer STT Group for the implementation of property projects,...

Banking

Budget manages surplus of Ft 95 bln – Hungary

Ministry of Finance is expecting a general government surplus of Ft 95.1 billion (€387 million, $535 million) in July 2007...

MNB

ICEG report on Hungary

The rate of economic growth in Hungary might be 2.6% in 2007, and 3.2% in 2008 with export continuing to...

MNB

GDP grows 7.8% in Ukraine in June

Ukraine's GDP grew 7.8% in June 2007 year-on-year and 7.9% in the first six months, a spokesman for the statistics...

MNB

Government saves petroleum companies from bankruptcy

The Russian government has taken measures to save the main state-controlled petroleum companies from their creditors....

Banking

Tax reforms: plan or reality? – Hungary

Some points of the agreement between the governing parties MSzP and SzDSz to bring forth tax reforms do not guarantee...

Banking

Russian Court quashes decision to charge PwC extra $15 mln in back taxes

The presidium of the Supreme Arbitration Court quashed a ruling by the lower court demanding British-based PricewaterhouseCoopers (PwC) pay an...

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...

Banking

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...

Banking

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

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

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...

Banking

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...

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...

MNB

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...

Banking

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...

Banking

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...

Trade

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...

Ratings

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...

MNB

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...