MFB Invest, a unit of the state-owned Hungarian Development Bank (MFB), announced the launch of Europeʼs first water fund at the Budapest Water Summit on Wednesday. At the same event, the Global Green Growth Institute, which advises governments on green growth opportunities, said it will move its European office from London to Budapest.
In an interview with independent news portal Index.hu, newly elected Budapest Mayor Gergely Karácsony said the capital’s municipal council would decide on a freeze on building permits issued for new structures in Városliget (City Park), as part of planned measures in the near future.
Late September saw the forint diving to a historical low against the euro and a near-record low to the U.S. dollar. While this can mostly be blamed on external causes, such as a possible no-deal Brexit and recession fears in Germany, analysts say that maintaining the current dovish monetary policy will not help drive the currency back to its earlier levels.
The European Institute of Innovation and Technology (EIT), an independent EU body boosting innovation in Europe, has announced the winners of this yearʼs EIT Awards, recognizing innovators in five categories, organizers tell the Budapest Business Journal.
Opposition candidate Gergely Karácsony defied the polls to beat long-time incumbent István Tarlós in the race to become new mayor of Budapest, raking in more than half of the votes. In a good night for the opposition, a majority of Budapest districts were also won by opposition candidates, handing them control of the city council.