Holding companies Konzum and Opus Global announced their planned merger in disclosures posted on the website of the Budapest Stock Exchange (BÉT) Thursday, state news agency MTI reported. Both firms are controlled by billionaire investor Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán whose wealth has skyrocketed since the present government came to power.
The Budapest Research Forum (BRF) has released its office market summary for Q3 2018, revealing that four new office buildings were delivered, totaling 110,970 square meters, raising the current total modern office stock to 3,587,290 sqm, with the vacancy rate decreasing to a record rate of 6.4% during the quarter.
The National Bank of Hungary kept the base rate at 0.9% at its latest rate setting meeting. But more importantly, it revealed moves to simplify and fine-tune its set of policy instruments. Analysts say that it might signal the start of a tightening cycle in the longer run. In the short-term, however, the central bank is expected to stick to its dovish stance.
Increasing the contribution of tourism to 16% of Hungaryʼs GDP by 2030, developing tourism in the countryside, a speech by Prime Minister Viktor Orbán, and the unveiling of a new national brand "WOW Hungary" were all on the agenda at the Tourism Summit 2018, attended by the Budapest Business Journal.
Az expected, Parliament voted on Tuesday to phase out state subsidies on deposits at home savings banks. The motion was passed in an expedited procedure with 125 votes for, 49 against, and no abstentions, state news agency MTI reported.