Ákos Nagy has been promoted to Partner at Kinstellar Budapest, an independent law firm focusing on Emerging Europe and Central Asia, according to a press release sent to the Budapest Business Journal. Nagy primarily focuses on corporate and M&A transactions.

The National Bank of Hungary (MNB) expects inflation to reach the 3% level consistent with price stability in a sustainable manner from early 2019, half a year later than projected in March, the MNB said in its quarterly Inflation Report, state news agency MTI reported.

Experts of the National Bank of Hungary (MNB) expect household investments to grow dynamically in the coming period as household consumption increases in proportion to incomes, the MNBʼs chief analyst András Balatoni said Thursday at a press conference presenting the bankʼs fresh Inflation Report, Hungarian news agency MTI reported.

Internationally-known lakeside festival Balaton Sound has announced its finalized program, offering 20 venues with more than 300 programs, according to a press statement sent to the Budapest Business Journal.

Sziget has once again commissioned Humen Magazine to create a special issue titled ‘Humen Magazine – Sziget’, becoming the official press of the internationally-known festival, according to a press statement sent to the Budapest Business Journal.

In a letter sent to Betsy DeVos, the U.S. Secretary of Education, Minister of Human Capacities Zoltán Balog welcomed DeVosʼs acknowledgment of the amendment to Hungaryʼs higher education law and expressed hope for a resolution to concerns expressed, according to a report by state news wire MTI.

The Government Debt Management Agency (ÁKK) sold a combined HUF 50 billion of bonds at auction on Thursday, raising its original offer on strong demand by HUF 5 bln for the five-year term and by HUF 5 bln for the ten-year term, state news wire MTI reported.

Hungary’s Prime Minister Viktor Orbán has sent a letter of condolences to the widow of former Chancellor of Germany Helmut Kohl, who died on June 16, calling Kohl a “great architect” of Europe, according to an entry on official government website kormany.hu.

Hungarian low-cost airline Wizz Air today announced the expansion of its Budapest capacity with the addition of two new aircraft, two new routes and increasing frequency on 13 services, according to a press release sent to the Budapest Business Journal.

State-owned student loan provider Diákhitel Központ has announced it will be lowering interest rates on its loans in the second half of the year, according to Hungarian news agency MTI.

Electric light source manufacturer EGLO Magyarország inaugurated a 14,000 square-meter production hall and a 5,600 sqm automated warehouse in Pásztó, northern Hungary, on Wednesday, completed via an investment of HUF 4 billion, state news wire MTI reported.   

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó and Georges Rebelo Pinto Chikoti, his Angolan counterpart, discussed economic cooperation possibilities at talks in Budapest on Wednesday, state news agency MTI reported.

Prime Minister Viktor Orbán met Liu Yandong, Vice Premier of the Peopleʼs Republic of China, in Parliament in Budapest Wednesday for talks with the intention of strengthening the strategic partnership between Hungary and China, the PMʼs Press Chief Bertalan Havasi told government website kormany.hu.

The National Bank of Hungary (MNB) accepted HUF 275 billion placements in its three-month deposits for banks at a tender on Wednesday, the same as the announced volume, whereby the stock fell to HUF 500 bln, as planned.

Hungaryʼs net external financing capacity - the combined surplus of the current and capital accounts - came to EUR 6.23 billion last year, down from EUR 8.84 bln in 2015, a second reading of 2016 figures published by the National Bank of Hungary (MNB) shows, according to Hungarian news agency MTI.

Hungary could launch HUF 500 billion worth of solar panel investments as potential investors applied for licenses for a combined 1,350 megawatts of capacity by the end of last year, Ernő Kiss, president of the Hungarian Solar Panel Association, told Hungarian daily Világgazdaság.

Hungaryʼs cash flow-based general government, excluding local councils, ran a HUF 213.4 billion deficit at the end of May, the Ministry for National Economy said today, confirming preliminary data, Hungarian news agency MTI reported. The deficit thus reached 18.3% of the HUF 1.1664 trillion full-year target.

The Government Debt Management Agency (ÁKK) bought back a combined HUF 109.57 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction today, Hungarian news agency MTI reported.

Hungaryʼs OTP Bank today launched its contactless mobile payment solution, which has been implemented into its Simple mobile application, according to a press statement sent to the Budapest Business Journal.

German engineering giant Siemens laid the cornerstone of a HUF 10 billion turbine blade plant it is building at the manufacturing base of Siemens Power and Gas in Budapest on Tuesday, according to state news wire MTI.