Finance

MNB

Gold gains as dollar falls on reduced demand for US assets – extended

Gold climbed to a two-week high in New York as the prospect of a weaker dollar spurred demand for the...

Banking

Off-shore companies are leaving

Off-shore companies are gradually leaving the country, tax experts say....

Ratings

Rosneft rating outlook raised by Moody’s on improved finances

OAO Rosneft, Russia's second-biggest oil producer, had its long-term credit outlook raised by Moody's Investors Service, which cited improving corporate...

MNB

Wienerberger plans to sell hybrid bonds in euros

Wienerberger AG, the world's biggest brickmaker, plans to sell €400 million ($517 million) of so-called hybrid bonds to pay off...

MNB

Gold may rise for 2nd week as alternative to dollar

Gold may rise for a second week on speculation that Russia and oil-producing nations in the Middle East will shift...

MNB

World Gold Council may offer new funds in Europe and India

The World Gold Council, a producer group supported by the world's biggest miners, may start selling gold-backed securities in Italy,...

MNB

Russian reserves advance for 11th week, surge to $303.9 bln

Russia's foreign currency and gold reserves surged for an 11th week as the nation heads for a ninth year of...

Banking

IPA concerns go official

The Budapest Court (FB)’s report on the ‘‘local business tax’’ (IPA) procedure was published on the EU’s official website....

MNB

Hungary’s international reserves down €282 mln to €16.397 bln in December

Hungary's international reserves decreased €282 mln in December after €292 mln increase in November, preliminary figures released by the National...

MNB

City analysts see forint weakening, higher rates, Hungary’s c/a deficit narrowing – extended

London-based emerging market analysts expect the forint to see a negative correction and rates to rise in the coming months,...

Banking

Employers, unions, gov’t closer to reaching wage rise agreement

Employers, unions and the government came closer to an agreement on wage rises in 2007 at a Friday meeting of...

MNB

Hungary borrows at lowest yield in 15 months on budget pledge

Hungary borrowed at the lowest rate in 15 months as a pledge by Prime Minister Ferenc Gyurcsány to cut spending...

Ratings

Moody’s downgrades seven Hungarian lenders including OTP Bank

Moody's downgraded the long-term foreign currency deposit ratings of seven Hungarian banks, including OTP Bank, following similar action for the...

Banking

Romania to resume foreign debt sales, Finance Minister says

Romania may resume international debt sales in 2007 for the first time in almost four years to fund health care...

MNB

Savings cooperative assets exceed Ft 1,300 bln

The combined assets of Hungary's savings cooperatives exceeded Ft 1,300 bln at the end of November 2006, well over the...

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...