Finance

MNB

Russian foreign currency reserves rise to record $304.6 bln

Russia's foreign currency and gold reserves rose for a third week to a record, boosted by revenue from oil sales,...

MNB

Croatia starts accepting bids for HRK 2.5 bln 10-year bonds

Croatia began accepting bids for the sale of 10-year bonds worth 2.5 bln kuna ($441.8 mln), Erste&Steiermaerkische Bank d.d. Rijeka,...

MNB

Home lending rates rise, consumer loan rates fall in December

The average lending rate for home loans rose 19bp in December 2006 to 9.80%, while the average rate for consumer...

MNB

Czech Finance Ministry increases 2007 growth forecast to 5%

The Czech Finance Ministry raised its forecast for economic growth this year to 5% as it expects household spending to...

Banking

Hungarian companies and workers agree on 2007 wage increases – extended

Hungarian trade unions and corporate leaders today reached an agreement on this year's wage increases, one day before the deadline...

MNB

Polish economy grew 5.8% in 2006, fastest in 9 years – extended

Poland's economy expanded in 2006 at the fastest annual pace in nine years as buoyant exports encouraged companies to step...

Banking

No more spending cuts in 2007, says FinMin

There is no need for any further austerity measures in 2007 and the government has no plans to introduce further...

Banking

Germany will raise 2007 growth forecast to 1.7%

The German government will raise its forecast for economic growth this year to 1.7% on expectations that employment will increase,...

Banking

Hungarian companies and workers fail to reach wage agreement

Hungarian trade unions and corporate leaders failed today to reach an agreement on this year's wage increases, leaving just five...

MNB

BMW Finance to sell $300 mln of 5-Year bonds

BMW Finance, a unit of Bayerische Motoren Werke AG, the world's largest maker of luxury cars, plans to sell bonds,...

MNB

Gold climbs to highest in almost three weeks as dollar declines

Gold prices in New York climbed to the highest in almost three weeks as a declining dollar spurred demand for...

MNB

HVB Bank Hungary to be rebranded Unicredit Bank

HVB Bank Hungary will rename itself Unicredit Bank from February, as part of a regional branding resulting from the takeover...

Ratings

Hungary’s move toward budget consolidation irreversible

Speaking at S&P's annual seminar, Moritz Kraemer noted that the previous convergence of the CEE region has come to a...

Banking

Switzerland, foreign millionaires’ „paradise,” may raise taxes

Switzerland, which has attracted millionaires from Ikea founder Ingvar Kamprad to ex-Formula One champion Michael Schumacher, may raise taxes on...

MNB

Milken says credit could free $100 trillion for poor

Michael Milken, the junk bond billionaire turned philanthropist, says developing countries could free up trillions of dollars by increasing their...

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...

MNB

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...