Budapest Bank will suspend teller and electronic services on Thursday, October 25, and Friday October 26, while it introduces a new bank card system, Hungarian new agency MTI reports.

In a preliminary ruling sought by the Budapest Regional Court of Appeal, the Court of Justice of the European Union (CJEU) has said that financial institutions are required to provide borrowers with adequate information to enable them to make well-informed, prudent decisions.   

In July 2018, the volume of sales in the national retail trade network, as well as in mail order and internet retail, rose by 5.4% according to raw data, and by 5.3% adjusted for calendar effects, compared to the same period of the previous year, the Central Statistical Office (KSH) confirmed in a second reading of data.

The annual Sziget Festivalʼs organizers have announced that international pop star Ed Sheeran will be headlining next summerʼs event, according to a press release sent to the Budapest Business Journal.

U.S.-owned electronics and telecom equipment manufacturer Sanmina-SCI Hungary Kft. will spend HUF 6.2 billion on developments at its base in Tatabánya (NW Hungary) by 2022, Minister of Foreign Affairs and Trade Péter Szijjártó said Thursday.   

Transportation network operator Taxify is set to launch the test phase of its ride-sharing service in Debrecen in a few weeks, after the conclusion of the search for drivers in the city, according to a press release sent to the Budapest Business Journal.

The bi-annual Budapest Central European Fashion Week takes place in the capitalʼs Várkert Bazár this October 25-27, offering a variety of programs for visitors both domestic and foreign.

While the Central Statistical Office (KSH) claims that real wages have increased by 21% in the past three years, national accounts – which add up all the income from labor from the 4.4 million people who participate in economic production – show only a 3-4% rise, online management forum mfor.hu reported.

The Government Debt Management Agency (ÁKK) sold a combined HUF 37.5 billion of securities at auction on Thursday, HUF 1.5 bln more than its original offer, state news wire MTI reported.

Skanska is investing around EUR 29 million in the third phase of the Nordic Light office complex. Located in the 13th district of Budapest, with a total leasable area of 14,000 square meters, the project is expected to be completed in the second quarter of 2020.

Six of 215 applying startups have been selected to participate in Design Terminalʼs Mentoring Program this fall, with the program attracting startup enterprises from 56 countries around the globe, according to a press release sent to the Budapest Business Journal.

Hungarian-owned vehicle rear view mirror maker Hirschler Glas inaugurated a HUF 413 million production hall at its base in Sopron (189 km west of Budapest) on Wednesday, state news agency MTI reported.

In a biannual opinion on budget trends released on Wednesday, Hungaryʼs Fiscal Council said the governmentʼs deficit target of 2.4% of GDP for this year is achievable but will require "robust control of expenditures, especially in the case of central budget-funded institutions."

Hungarian pharmaceutical company Gedeon Richter announced Wednesday that, with effect from September 18, the Romanian National Agency for Medicines and Medical Devices has once again granted a license to operate to Pharmafarm SA, Richter’s wholesale subsidiary in the country. 

The Government Debt Management Agency (ÁKK) sold HUF 35 billion of bonds maturing in 2026 and 2024, accepting bonds expiring in 2020 as payment, at a switch auction on Wednesday, state news wire MTI reported.   

Automotive parts maker Continental, best known for its tires, this week held its Fifth Professional Tire Conference in Budaörs, Pest County, featuring presentations about the state of the Hungarian and world economy, recruitment issues, and PR secrets.

Hungaryʼs government has tasked ministries to come up with policy measures to support recommendations by the National Competitiveness Council aimed at improving Hungariansʼ foreign language skills, a resolution published in the latest issue of the official gazette Magyar Közlöny shows, as reported by state news agency MTI.

Hungary has reached an agreement on gas deliveries from Russia for both 2019 and 2020, Prime Minister Viktor Orbán said at a joint press conference with Russian President Vladimir Putin in Moscow on Tuesday, Hungarian news agency MTI reported.

CartiHeal, developer of the Agili-C implant for the treatment of joint surface lesions, together with principle investigator Professor László Hangody of the Uzsoki Street Hospital, announced today the successful enrollment of the first Hungarian patient in the Agili-C investigational device exemption (IDE) pivotal study.

Hungarian pharmaceutical firm Gedeon Richter said Tuesday it has signed a license and distribution agreement with U.K.-based L.D. Collins to commercialize the latterʼs assisted reproductive technology (ART) product Cyclogest in 27 EU countries, with the productʼs launch expected in early 2019.