Budapest Gallery is opening an exhibition entitled "Gaze of Thought", portraying the artwork of Miklós Gaál and Tibor iski Kocsis from August 2 to September 10, according to a press statement sent to the Budapest Business Journal.

Hungary’s volume of retail sales was up by 6% in May, according to raw data, compared to the same month a year earlier, and grew by 5.5% adjusted for calendar effects, the Central Statistical Office (KSH) said this morning in a second estimate of data that was 0.1 of a percentage point higher than that published in the first estimate, KSH noted.

Hungaryʼs government has decided to offer subsidies for the purchase by businesses of another 30,000 bank card terminals, the Minister for National Economy said yesterday, according to Hungarian news agency MTI.

The National Bank of Hungary (MNB) today said it has fined Porsche Bank HUF 19 million over shortcomings affecting the lenderʼs corporate governance, risk management, capital requirement calculation, accountancy, data reporting and IT activities.

Under a new legislation that took effect in May and requires new reporting requirements for the transfer prices of multinational firms operating in Hungary, a fine of up to HUF 20 million can be issued to companies that do not comply with the new rule, Grant Thornton Hungary warns in a press statement sent to the Budapest Business Journal.

Hungarian road haulage company Waberer’s has closed the acquisition of its Polish peers Link and Link Services for a combined EUR 32.5 million, which the Hungarian company financed from its own resources, according to a press statement sent to the Budapest Business Journal.

International rating agency Standard & Poorʼs Global Ratings revised the outlook on MOLʼs credit rating to positive from stable, the Hungarian oil and gas company said today, according to state news agency MTI.

The state of Hungary will sell its 36.5% stake in Granit Bank, Minister for National Economy Mihály Varga said yesterday, Hungarian news agency MTI has reported.

Nordic Light’s occupancy rate has reached 98% with Rail Cargo Hungaria Zrt., part of Europe’s second largest rail forwarding company, having signed to move some of its divisions to the building, according to a press statement sent to the Budapest Business Journal. 

Réti, Antall and Partners Law Firm PwC Legal has announced the appointment of a new managing partner and new law firm member, according to a press statement sent to the Budapest Business Journal. 

The Government Debt Management Agency (ÁKK) sold a combined HUF 34.5 billion of bonds at auction today, cutting its original offer by HUF 5.5 bln on paltry demand for the shortest maturity, Hungarian news agency MTI reported.

Hungaryʼs cash flow-based general government deficit reached HUF 911.2 billion at the end of June, 78.1% of the full-year target, the National Economy Ministry confirmed in a second reading of data today, Hungarian news agency MTI reported. The deficit does not include the balance of local councils.

Two members of the management of Hungarian low fare airline Wizz Air have been promoted to the firm’s executive team, according to a press statement sent to the Budapest Business Journal.

Stephen Jones has been appointed executive vice president and deputy CEO at Hungary’s low fare airline Wizz Air, taking effect from of the second half of the year, according to a press statement sent to the Budapest Business Journal.

Real estate firm Infogroup has been recognized in the Superbrands award for the third time in a row by the 22-member independent board of the Business Superbrands program, according to a press statement sent to the Budapest Business Journal.

Spending on research and development in Hungary reached HUF 427.2 bln last year, falling 8.8% from the previous year, a summary of data by the Central Statistics Office (KSH) shows.

The National Bank of Hungary (MNB) accepted placements of HUF 50 billion in its three-month deposit at a tender yesterday, level with the maturing depo stock, Hungarian news agency MTI reported.

Hungaryʼs government has approved more than HUF 600 million in personnel and one-off costs towards establishing an independent gambling oversight authority, a resolution published in yesterdayʼs issue of the official gazette Magyar Közlöny shows.

The Hungarian Police has confirmed that all international trains crossing Hungary have been stopped and are being searched in response to a bomb threat, according to Hungarian online news portal index.hu.

Hungarian startup Shelfie aims to revolutionize how the youth thinks about furniture, as the creator wishes to offer an alternative to those who cannot or do not want to pay for expensive design furniture, according to a press statement sent to the Budapest Business Journal.