Foreign Affairs

EU

Share of value-added by foreign firms 2nd highest in EU

The share of value-added generated by foreign-controlled companies stood at 50% in Hungary in 2017, the second-highest rate in the...

EU

CJEU rules against Hungary in mandatory relocation case

The Court of Justice of the European Union (CJEU) on Thursday ruled that Hungary, Poland, and the Czech Republic failed...

EU

13 EU members issue statement on rule of law in context of COVID-19 crisis

Thirteen European Union member states expressed concern over the threat to rule of law, democracy and fundamental rights posed by...

EU

Number of trucks on roads falls mid-March

While in Budapest, passengers disappeared from public transport vehicles and car traffic dropped significantly almost from the beginning of the...

EU

Industrial producer prices up 3.8%

Industrial producer prices were about 3.8% higher in February 2020 than in the same period of 2019, with wage growth,...

Visits

2020 budget needs radical restructuring, Orbán says

This yearʼs central budget must be radically restructured in order to manage the crisis and revitalize the economy, Prime Minister...

EU

Short-term Postings, Business Trips and Training: Even More Complicated Administration

Posting is not only a case of an employee working on a specific project abroad, but also when attending few-days...

EU

Czech Rep shut borders to travelers from 15 countries

The Czech Republic has closed its borders to travelers crossing from Germany and Austria and is also banning the entry...

EU

Pork prices rise by 50%

Live pigs have continued to grow in price in recent weeks, and as meat companies have been able to absorb...

EU

COVID-19 and Financial Markets: Part I

In this first article in a three-part series, Les Nemethy and Sergey Glekov use their regular Corporate Finance Column to...

Int'l Relations

New Dawn, New Decade, New Relationship

In its latest series, “The Dawn of the New Decade”, the American Chamber of Commerce in Hungary looks into the...

EU

Domestic transportation sector grows modestly

The volume of goods transported rose 2.1% to 312 million tonnes last year, the transportation sector’s performance being 1.5% higher...

EU

Housing deficit still present in Poland, but decreases, report

Although the housing stock in Poland is rising, a deficit still exists, according to Deputy Development Minister Marek Niedużak, Polish...

EU

Infant mortality around EU average

In Hungary, the infant mortality rate stood at 3.3 deaths per 1,000 live births in 2018, just under the European...

EU

Most Hungarians support stricter environmental regs

A large majority of Europeans, 83%, believe that stricter common European environmental legislation is needed, with even more (89%) of...

Int'l Relations

Russia Expels Hungarian Diplomats in Retaliatory Move

Russia’s Foreign Ministry announced Thursday that it was expelling Hungarian diplomats in retaliation for Hungary’s recent expulsion of 10 Russian...

EU

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Hungary Signals Interest in Hosting 2036 Olympics

The Int'l Olympic Committee confirmed that Hungary is among seven countries engaged in ongoing dialogue and has formally expressed interest...

Russia Expels Hungarian Diplomats in Retaliatory Move

Russia’s Foreign Ministry announced Thursday that it was expelling Hungarian diplomats in retaliation for Hungary’s recent expulsion of 10 Russian...

Hungary’s EPPO Accession Advances With Budapest Talks

European Chief Prosecutor Laura Codruța Kövesi held talks with Hungarian officials in Budapest on the details of Hungary’s accession to...

EU Grants Hungary 1‑year Exemption from Gas Market Rule

The EC approved Hungary's request for a temporary exemption from an EU gas‑market regulation at the Serbian border, allowing the...

Magyar Invites Pope Leo XIV to Hungary After Vatican Talks

Prime Minister Péter Magyar invited Pope Leo XIV to visit Hungary during a private audience at the Vatican on Sept....

EU Project Pre-Financing Pushes August Budget Deficit to HUF 2.31 tln

Hungary’s cash flow-based general government deficit reached HUF 2.31 tln in August, driven overwhelmingly by pre-financing for projects supported by...

All Hungarian University Students to Regain Erasmus Access by October, Official Says

Hungarian university students will have the opportunity to participate in the Erasmus mobility program by October, with some able to...

ÁKK: Euro Adoption May Cut Hungary’s Debt Costs by 50%

The Government Debt Management Agency (ÁKK) says Hungary could reduce its financing costs after adopting the euro, lowering annual interest...

Hungarian Teen Detained Over Alleged Terrorist Threats After FBI Tip

Hungarian police have detained a 16-year-old boy in Győr on suspicion of making terrorist threats after the FBI alerted authorities...

Russia Pledges Response to Hungary’s Expulsion of 10 Diplomats

Russia will respond to Hungary’s decision to expel 10 Russian diplomats, Foreign Mininstry spokesperson Maria Zakharova said Tuesday, adding that...

Hungary to Formalize Gift of Lipizzaner Horses to King Charles III

Hungary will formally gift two Lipizzaner horses to the UK's King Charles III, resolving an ownership issue after the animals...

40 Hungarian Tourists Safe After Wildfire Evacuation on Croatia’s Brač Island

A group of 40 Hungarian tourists evacuated from Milna on Croatia’s Brač island due to wildfires are safe, Hungary’s Foreign...

Magyar Says No Progress Yet in Hungary-Slovakia Dispute Over Beneš Decrees

PM Péter Magyar said Thursday that no progress had yet been made on disputed issues between Hungary and Slovakia, including...

CJEU Rejects Hungary’s Bid to Halt Russian Asset Revenue Transfers to Ukraine

The CJEU has thrown out an appeal by the previous Hungarian government against an EC decision to send aid to...

EU Customs Changes Reshape Hungarian Online Shopping, PwC Finds

Hungarian online shoppers are planning purchases more carefully rather than abandoning international platforms following July’s customs changes, according to PwC...