Finance

Banking

Hungary’s FM on fighting the black economy

According to researchers, the “value” of black economy now equals 17%–18% of GDP, said Finance Minister János Veres at the...

Banking

China encourages textile firms to innovate with tax-free component imports

China has removed import tariffs from components of two types of textile machines to encourage domestic textile firms to develop...

Banking

EU to lower VAT?

The European Commission may ease on its stance regarding VAT. Decrease in minimal product and service taxes may have a...

Banking

EU to check corporate interest clearing

The European Union will check whether interest clearing between affiliated companies is justifiable in Hungary....

Banking

S&P upgrades Rosneft’s outlook to positive over acquisitions

Standard & Poor's on Tuesday upgraded the outlook for Russia's state-controlled crude producer Rosneft to positive over the company's recent...

Banking

Government to launch in-depth tax revisions

The amendment of the coalition contract signed on Sunday contains an agreement on working out a thoroughly new tax system...

MNB

Private equity fuels record merger run

Storm clouds may be gathering on the horizon, but the sun is shining brightly on the mergers-and-acquisitions market....

Banking

Hungary: New expected tax takes effect

The law replacing the “expected tax” took effect July 1. The government hoped to have Ft 60 billion yearly extra...

MNB

Gold sales – The reasoning behind Switzerland’s policy decision

The classic question has to be asked again, what is the price of gold? If we answer $xxx, then we...

MNB

China’s economy may grow in 2007 at fastest pace since 1995

China's economy may grow at the fastest pace in 12 years in 2007 and inflation is likely to exceed the...

Ratings

S&P: Poland, Hungary, Czech Republic, Slovakia suffer from reform fatigue

Poland, Hungary, the Czech Republic and Slovakia are suffering from reform fatigue that could limit further improvements in credit quality,...

MNB

Why are investors so pessimistic about the gold price?

With inflation and interest rates picking up around the world the gold price ought to be soaring upwards. And yet...

MNB

Austrian BA-CA bank takes over Kazakh ATF bank

Bank Austria Creditanstalt (BA-CA), Austria's largest bank, continuing its eastwards expansion, said Thursday it aims to take over at least...

MNB

New, high-tech products account for nearly 30% of China’s foreign trade

China’s export and import of new- and high-tech products amounted to $232.5 billion (€174.5 billion), or 29% of the nation’s...

MNB

MFB to launch bond issue

Hungary's state-run development bank MFB Zrt will launch a €400 million ($532.6 million) bond issue to refinance expiring sources, the...

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...