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493 NEW COVID-19 CASES REGISTERED IN HUNGARY 493 new COVID-19 cases registered in Hungary. The number of active coronavirus cases in Hungary stands at 180,285, with 493 new cases and 99 new deaths registered since yesterday, according to data by government coronavirus information site koronavirus.gov.hu. The death toll has increased to 28,792. The total number of confirmed cases * mail
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HUNGARY OPENS VACCINATION REGISTRATION TO FOREIGN Hungary will open registration for vaccination against the coronavirus to foreign residents without a national health insurance card from today, the country's chief medical officer Dr. Cecília Müller said at a daily press briefing yesterday, according to koronavirus.gov.hu, the government's official coronavirus website. GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. EASING OF RESTRICTIONS ALONG SLOVAKIAN-HUNGARIAN BORDER Easing of restrictions along Slovakian-Hungarian border. Starting today, Hungary enables Slovakian citizens to enter the country for a day without mandatory quarantine, according to a report by government website kormany.hu. "The further easing of restrictions is occurring along the Slovakian-Hungarian border in view of the fact that on INTRODUCING 3 SECRETLY INFLUENTIAL HUNGARIANS Introducing 3 Secretly Influential Hungarians. Architectural detail of the Palais Bulles with its Mediterranean panorama close to Theoule-sur-Mer, France. Spend enough time in this country and Hungarian pride in famous people with Magyar origins begins to rub off on you. I’ve gone way beyond being satisfied by announcing thatAlbert Szent
MINISTRY PUBLISHES NEW NATIONAL ENERGY STRATEGY The Innovation and Technology Ministry has published Hungaryʼs recently approved new National Energy Strategy that outlines priorities until 2030, state news wire MTI reports. Hungaryʼs gas imports are set to fall near to 70% and below 70% by 2040 as household gas consumption will decrease due to energy-efficiency developments. PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical TAKARÉK GROUP LAUNCHES NEW UNIVERSAL COMMERCIAL BANK Initiatives. Takarékbank Zrt., the new universal commercial bank of Hungaryʼs integrated savings cooperatives, launched on Monday with 139 branches in seven of Hungaryʼs 19 counties, as well as the capital, state news agency MTI reported. As reported in April, the lender has been created through the merger of Mohácsi Savings Bank,Pannon
493 NEW COVID-19 CASES REGISTERED IN HUNGARY 493 new COVID-19 cases registered in Hungary. The number of active coronavirus cases in Hungary stands at 180,285, with 493 new cases and 99 new deaths registered since yesterday, according to data by government coronavirus information site koronavirus.gov.hu. The death toll has increased to 28,792. The total number of confirmed casesstands at
HUNGARY OPENS VACCINATION REGISTRATION TO FOREIGN Hungary will open registration for vaccination against the coronavirus to foreign residents without a national health insurance card from today, the country's chief medical officer Dr. Cecília Müller said at a daily press briefing yesterday, according to koronavirus.gov.hu, the government's official coronavirus website. GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. EASING OF RESTRICTIONS ALONG SLOVAKIAN-HUNGARIAN BORDER Easing of restrictions along Slovakian-Hungarian border. Starting today, Hungary enables Slovakian citizens to enter the country for a day without mandatory quarantine, according to a report by government website kormany.hu. "The further easing of restrictions is occurring along the Slovakian-Hungarian border in view of the fact that on INTRODUCING 3 SECRETLY INFLUENTIAL HUNGARIANS Introducing 3 Secretly Influential Hungarians. Architectural detail of the Palais Bulles with its Mediterranean panorama close to Theoule-sur-Mer, France. Spend enough time in this country and Hungarian pride in famous people with Magyar origins begins to rub off on you. I’ve gone way beyond being satisfied by announcing thatAlbert Szent
MINISTRY PUBLISHES NEW NATIONAL ENERGY STRATEGY The Innovation and Technology Ministry has published Hungaryʼs recently approved new National Energy Strategy that outlines priorities until 2030, state news wire MTI reports. Hungaryʼs gas imports are set to fall near to 70% and below 70% by 2040 as household gas consumption will decrease due to energy-efficiency developments. PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical TAKARÉK GROUP LAUNCHES NEW UNIVERSAL COMMERCIAL BANK Initiatives. Takarékbank Zrt., the new universal commercial bank of Hungaryʼs integrated savings cooperatives, launched on Monday with 139 branches in seven of Hungaryʼs 19 counties, as well as the capital, state news agency MTI reported. As reported in April, the lender has been created through the merger of Mohácsi Savings Bank,Pannon
BUDAPEST BUSINESS JOURNAL Hungary’s largest and oldest source of business and financial news about Hungary in English. Not just for expats. 5 MILLIONTH HUNGARIAN VACCINATED AS INDIAN VARIANT ARRIVES The five millionth Hungarian had been inoculated against the coronavirus by Saturday, May 22, which triggered a further easing of pandemic restrictions, Prime Minister Viktor Orbán said in a video posted on his Facebook page. With more than half of the population inoculated, mask-wearing is no NUMBER OF BOOK TITLES PUBLISHED REACHED 14,700 IN 2020 12 hours ago · The number of book titles published in Hungary reached 14,700 last year, the highest number since 2010, the Central Statistical Office (KSH) said in a summary of data. The number of titles published in the first quarter of 2021 was 4,180, still veryhigh
THE GRAND SUMMER REOPENING The meteorological summer has officially started, the sun is shining, and there are more people in the office than I have seen since before Christmas; for once, the arrival of June feels like a more significant step-change than the coming of spring. We are surely past “emerging shoots” metaphors by now, but the fact that the second reading of the Q1 GDP data was an improvement of the first 2ND READING LIFTS GDP, ANALYSTS’ PROJECTIONS ALIKE Hungary’s first-quarter GDP growth was even more significant than the data showed at the first reading. As it turns out from the final data published by the Central Statistical Office (KSH) on June 1, the Hungarian economy expanded by 2% in the first three months of the year on a quarterly basis, as opposed to the 1.9% stated in the first release of the data two weeks ago. PANATTONI ENTERS HUNGARIAN LOGISTICS, INDUSTRIAL PARK Panattoni, one of the largest regional and European logistics and industrial park developers, which has had a significant presence in the Czech Republic and Poland in recent years, has announced the opening of an office in Hungary. Previously a notable absence in the Hungarian market, the company DVM GROUP WINS 2 AWARDS AT 'OFFICE OF THE YEAR' CONTEST 14 hours ago · DVM group won two awards at ingatlan.com's "Office of the Year" competition, according to a press release sent to the Budapest Business Journal. This year, the competition featured the highest number of entries ever, resulting in extremely tight scores FIDELIDADE ACQUIRES OFFICE BUILDING IN BUDAPEST 13 hours ago · Companhia de Seguros, S.A. (“Fidelidade”), a leading Portuguese insurance company, acquired BC 140, a multi-tenant office building in Budapest, through its real estate investment arm, Fidelidade Property, according to a press release sent to the BudapestBusiness Journal.
ČEZ DISTRIBUTION BULGARIA TO INVEST IN GRID AUTOMATION 11 hours ago · ČEZ Distribution Bulgaria, the local unit of Czech state-owned energy company ČEZ, said that it will invest some BGN 1.7 million (USD 1.1 million) in the automation of elements of its power network in 2021, according to a report by SeeNews. INDUSTRIES LOSE BILLIONS ON COUNTERFEIT PRODUCTS 16 hours ago · The budgets of European Union countries lose approximately EUR 14.27 billion a year in revenues due to counterfeit goods, the Polish confederation Lewiatan said, according to a report by the Warsaw Business Journal. As the organization points out, European competitiveness is linked to 493 NEW COVID-19 CASES REGISTERED IN HUNGARY 493 new COVID-19 cases registered in Hungary. The number of active coronavirus cases in Hungary stands at 180,285, with 493 new cases and 99 new deaths registered since yesterday, according to data by government coronavirus information site koronavirus.gov.hu. The death toll has increased to 28,792. The total number of confirmed casesstands at
GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
HUNGARY OPENS VACCINATION REGISTRATION TO FOREIGN Hungary will open registration for vaccination against the coronavirus to foreign residents without a national health insurance card from today, the country's chief medical officer Dr. Cecília Müller said at a daily press briefing yesterday, according to koronavirus.gov.hu, the government's official coronavirus website. PANDEMIC PLACES FOCUS ON INTERIOR ENVIRONMENT Pandemic places focus on interior environment. Booking.com office rendering by DVM. Office interior elements have been integrated by developers and investors into the concept, design, leasing strategy, and Property Management (PM) and Facility Management (FM) of office projects, in reaction to more sophisticated tenant and staff demandsand
LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. DODO AIMING TO REVOLUTIONIZE HOME DELIVERY IN HUNGARY Innovation. Czech startup DoDo is looking to revitalize the Hungarian home delivery market, and has already made its services available in several Hungarian cities, according to a press release sent to the Budapest Business Journal. This week, the Czech startup celebrated the first anniversary of its operation in Hungary. ANALYSTS LOOK TO 2021 FOR RECOVERY IN REAL ESTATE MARKETS Analysts at Cushman predict that, while the full economic impact of the crisis for Central Europe may take one to two years, there is sentiment for the real estate market to bounce back more rapidly in the second and third quarters of 2021. A region-wide investment total is regarded as difficult to predict. “But the best guestimate issimilar
HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical MINISTRY PUBLISHES NEW NATIONAL ENERGY STRATEGY The Innovation and Technology Ministry has published Hungaryʼs recently approved new National Energy Strategy that outlines priorities until 2030, state news wire MTI reports. Hungaryʼs gas imports are set to fall near to 70% and below 70% by 2040 as household gas consumption will decrease due to energy-efficiency developments. 493 NEW COVID-19 CASES REGISTERED IN HUNGARY 493 new COVID-19 cases registered in Hungary. The number of active coronavirus cases in Hungary stands at 180,285, with 493 new cases and 99 new deaths registered since yesterday, according to data by government coronavirus information site koronavirus.gov.hu. The death toll has increased to 28,792. The total number of confirmed casesstands at
GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
HUNGARY OPENS VACCINATION REGISTRATION TO FOREIGN Hungary will open registration for vaccination against the coronavirus to foreign residents without a national health insurance card from today, the country's chief medical officer Dr. Cecília Müller said at a daily press briefing yesterday, according to koronavirus.gov.hu, the government's official coronavirus website. PANDEMIC PLACES FOCUS ON INTERIOR ENVIRONMENT Pandemic places focus on interior environment. Booking.com office rendering by DVM. Office interior elements have been integrated by developers and investors into the concept, design, leasing strategy, and Property Management (PM) and Facility Management (FM) of office projects, in reaction to more sophisticated tenant and staff demandsand
LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. DODO AIMING TO REVOLUTIONIZE HOME DELIVERY IN HUNGARY Innovation. Czech startup DoDo is looking to revitalize the Hungarian home delivery market, and has already made its services available in several Hungarian cities, according to a press release sent to the Budapest Business Journal. This week, the Czech startup celebrated the first anniversary of its operation in Hungary. ANALYSTS LOOK TO 2021 FOR RECOVERY IN REAL ESTATE MARKETS Analysts at Cushman predict that, while the full economic impact of the crisis for Central Europe may take one to two years, there is sentiment for the real estate market to bounce back more rapidly in the second and third quarters of 2021. A region-wide investment total is regarded as difficult to predict. “But the best guestimate issimilar
HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical MINISTRY PUBLISHES NEW NATIONAL ENERGY STRATEGY The Innovation and Technology Ministry has published Hungaryʼs recently approved new National Energy Strategy that outlines priorities until 2030, state news wire MTI reports. Hungaryʼs gas imports are set to fall near to 70% and below 70% by 2040 as household gas consumption will decrease due to energy-efficiency developments. NUMBER OF BOOK TITLES PUBLISHED REACHED 14,700 IN 2020 17 minutes ago · The number of book titles published in Hungary reached 14,700 last year, the highest number since 2010, the Central Statistical Office (KSH) said in a summary of data. The number of titles published in the first quarter of 2021 was 4,180, still veryhigh
ALBANIA'S ANNUAL PPI EDGES DOWN IN Q1 2 hours ago · Albania's producer prices decreased by 0.6% year-on-year in the first quarter of 2021, figures from the Tirana-based Institute of Statistics (Instat) showed on Wednesday. Producer prices in the electricity, gas, steam and air conditioning segment decreased by 2.8% on SERBIA'S PUBLIC DEBT RISES IN APRIL Serbia's public debt totaled EUR 27.7 billion (USD 33.8 billion) at the end of April, the finance ministry said. The debt was equivalent to 55.0% of the projected 2021 gross domestic product (GDP), up from 57.4% at the end of 2020, when the public debt amounted to EUR 26.7 billion, data on the DVM GROUP WINS 2 AWARDS AT 'OFFICE OF THE YEAR' CONTEST 2 hours ago · DVM group won two awards at ingatlan.com's "Office of the Year" competition, according to a press release sent to the Budapest Business Journal. This year, the competition featured the highest number of entries ever, resulting in extremely tight scores BULGARIA Q1 ECONOMIC CONTRACTION CONFIRMED 1 day ago · Bulgaria's economy contracted at a slower pace in the first quarter of the year and remained stuck in a severe recession, latest data from the Sofia-based National Statistical Institute (NSI) confirmed Tuesday. Gross domestic product (GDP) decreased a seasonally adjusted 1.8% year-on-year in Q1 INDUSTRIES LOSE BILLIONS ON COUNTERFEIT PRODUCTS 4 hours ago · The budgets of European Union countries lose approximately EUR 14.27 billion a year in revenues due to counterfeit goods, the Polish confederation Lewiatan said, according to a report by the Warsaw Business Journal. As the organization points out, European competitiveness is linked to FIDELIDADE ACQUIRES OFFICE BUILDING IN BUDAPEST Companhia de Seguros, S.A. (“Fidelidade”), a leading Portuguese insurance company, acquired BC 140, a multi-tenant office building in Budapest, through its real estate investment arm, Fidelidade Property, according to a press release sent to the Budapest Business Journal. PANDEMIC PLACES FOCUS ON INTERIOR ENVIRONMENT Pandemic places focus on interior environment. Booking.com office rendering by DVM. Office interior elements have been integrated by developers and investors into the concept, design, leasing strategy, and Property Management (PM) and Facility Management (FM) of office projects, in reaction to more sophisticated tenant and staff demandsand
MAGYAR TELEKOM BUYS BACK HUF 10.2 BLN OF SHARES AT AUCTION 2 hours ago · Magyar Telekom spent HUF 10.2 billion on 23,794,792 shares - close to 2.3% of the total - at a buyback auction on Thursday, according to a report by state news wire MTI. The results announced by MTel show the average price was HUF 429 per share and HIGHER UPSIDE RISKS COULD BOOST INFLATION OUTLOOK 1 day ago · Members of the Monetary Council of the National Bank of Hungary (MNB) agreed that higher upside risks to inflation could drive up the inflation outlook at a policy meeting in May, the minutes from the meeting released on Wednesday show. BUDAPEST BUSINESS JOURNAL Budapest Business Journal. Innovation. Hungarian companies supplying hardware, software for ESA mis Business | Apr 23, 2021, 09:00. Deals. Hungary's debut forint green bond draws strong demand. Business | Apr 22, 2021, 14:45. Innovation. Half of businesses using or consideringcarsharing.
GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. MNB WEEKLY QE PURCHASES RISE OVER HUF 67 BLN MNB weekly QE purchases rise over HUF 67 bln. The National Bank of Hungary (MNB) bought HUF 67.3 billion of securities in the framework of a quantitative easing program in the week ended May 2, up from HUF 60 billion in the previous week, data published on the central bank's website show, according to a report by state news wire MTI. The PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical INTRODUCING 3 SECRETLY INFLUENTIAL HUNGARIANS Introducing 3 Secretly Influential Hungarians. Architectural detail of the Palais Bulles with its Mediterranean panorama close to Theoule-sur-Mer, France. Spend enough time in this country and Hungarian pride in famous people with Magyar origins begins to rub off on you. I’ve gone way beyond being satisfied by announcing thatAlbert Szent
OTP ROLLS OUT MOBILE PAYMENT SOLUTION OTP Bank and its fintech unit OTP Mobil have announced the rollout of a mobile payment solution, based on instant payments, that reads QR codes, according to a report by Hungarian news agency MTI. Users donʼt need their bank card details to pay for a transaction, and they get immediate confirmation, OTP Bank managing director Péter Csányi PWC HUNGARY APPOINTS NEW ASSURANCE LEADER PwC Hungary announced the appointment of László Radványi as the new leader of the companyʼs assurance service line, taking over from Árpád Balázs who will coordinate services provided to companies in the financial sector as lead partner for financial services and serve in regional management as a member of the PwC CEE partner council. REMEMBERING LEGENDARY JAZZ GUITARIST GÁBOR SZABÓ Remembering Legendary Jazz Guitarist Gábor Szabó. The self-taught guitarist fled Hungary in 1956, made his way to the States and had a huge influence on Carlos Santana, among others. He died tragically young. Gábor Szabó and János Másik (with back to camera) in a still taken from one of their 1970s TV appearances. BUDAPEST BUSINESS JOURNAL Budapest Business Journal. Innovation. Hungarian companies supplying hardware, software for ESA mis Business | Apr 23, 2021, 09:00. Deals. Hungary's debut forint green bond draws strong demand. Business | Apr 22, 2021, 14:45. Innovation. Half of businesses using or consideringcarsharing.
GOVERNMENT APPROVES NATIONAL TOURISM STRATEGY Government approves National Tourism Strategy. The government has approved the National Tourism Development Strategy, laying a solid foundation for the sector's recovery, Zoltán Guller, the head of the Hungarian Tourism Agency, said, according to mfor.hu. The strategy advocates digitalization, the expansion of the data-driven managementof the
HUNGARIAN BANKHOLDING ANNOUNCES 2023 LAUNCH DATE Hungarian Bankholding announces 2023 launch date. Banking. Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal. LINDE INSTALLS 1ST HYDROGEN FILLING STATION IN HUNGARY Linde inaugurated the country's first hydrogen filling station on April 29, at the company's Budapest site, the company tells the Budapest Business Journal. The ceremony was attended by László Palkovics, Minister of Innovation and Technology, Attila Steiner, State Secretary and István Lepsényi, Head of the National Hydrogen Technology Platform. MNB WEEKLY QE PURCHASES RISE OVER HUF 67 BLN MNB weekly QE purchases rise over HUF 67 bln. The National Bank of Hungary (MNB) bought HUF 67.3 billion of securities in the framework of a quantitative easing program in the week ended May 2, up from HUF 60 billion in the previous week, data published on the central bank's website show, according to a report by state news wire MTI. The PRIVATE HEALTHCARE EXPANDING IN HUNGARY AND CEE Private healthcare expanding in Hungary and CEE. According to a broader trend, a growing number of patients in Eastern European states, not least in Hungary, are opting for private clinics and healthcare institutions providing faster access to medical INTRODUCING 3 SECRETLY INFLUENTIAL HUNGARIANS Introducing 3 Secretly Influential Hungarians. Architectural detail of the Palais Bulles with its Mediterranean panorama close to Theoule-sur-Mer, France. Spend enough time in this country and Hungarian pride in famous people with Magyar origins begins to rub off on you. I’ve gone way beyond being satisfied by announcing thatAlbert Szent
OTP ROLLS OUT MOBILE PAYMENT SOLUTION OTP Bank and its fintech unit OTP Mobil have announced the rollout of a mobile payment solution, based on instant payments, that reads QR codes, according to a report by Hungarian news agency MTI. Users donʼt need their bank card details to pay for a transaction, and they get immediate confirmation, OTP Bank managing director Péter Csányi PWC HUNGARY APPOINTS NEW ASSURANCE LEADER PwC Hungary announced the appointment of László Radványi as the new leader of the companyʼs assurance service line, taking over from Árpád Balázs who will coordinate services provided to companies in the financial sector as lead partner for financial services and serve in regional management as a member of the PwC CEE partner council. REMEMBERING LEGENDARY JAZZ GUITARIST GÁBOR SZABÓ Remembering Legendary Jazz Guitarist Gábor Szabó. The self-taught guitarist fled Hungary in 1956, made his way to the States and had a huge influence on Carlos Santana, among others. He died tragically young. Gábor Szabó and János Másik (with back to camera) in a still taken from one of their 1970s TV appearances. INDUSTRIAL PRODUCTION INCREASED BY 58.8% Y.O.Y. IN APRIL 21 hours ago · In April 2021, the volume of industrial production exceeded by 58.8% the extremely low base level of April 2020 according to data by the Central Statistical Office (KSH). The low base last year was caused by coronavirus pandemic-related lockdown restrictions.Based on
TOURISM NIGHTS UP SIGNIFICANTLY COMPARED TO APRIL 2020 18 hours ago · In April 2021, the number of tourism nights spent at commercial accommodations in Hungary was nearly three times higher than a year earlier according to data published by the Central Statistical Office (KSH). Some 43,000 domestic guests (up 21,000) spent 138,000 tourism nights (up 76,000). About 61% N. MACEDONIA JOBLESS RATE CONTINUES TO DROP IN Q1 22 hours ago · The unemployment rate in North Macedonia dropped to 16% in the first quarter of 2021 from 16.2% in the same period of the previous year, data released by the Skopje-based State Statistical Office (Makstat) show. It was the third consecutive decline in jobless rate to its lowest level since the CZECH AVERAGE MONTHLY WAGE UP IN Q1 19 hours ago · The average monthly wage in the Czech Republic in the first quarter rose by 3.2% year-on-year to CZK 35,285 (EUR 1,387), the Czech Statistical Office (CZSO) said in a statement on Friday. In real terms, taking into account inflation, earnings rose by 1%. However, two-thirds of employees earn less ABOUT 12% OF HUNGARIAN COMPANIES PLAN NEW HIRES 21 hours ago · Around 12% of Hungarian companies plan to raise headcount in the coming quarter, state news wire MTI reports, citing a representative survey by staffing company ManpowerGroup. Just 4% of companies plan layoffs, and 83% expect headcount to remain unchanged. Approximately 1% of companies couldn't SERBIA PUBLIC DEBT AT 55% OF GDP AT END-APRIL 20 hours ago · Serbia's public debt stood at EUR 27.77 billion at the end of April 2021, accounting for 55% of GDP, figures released by the Ministry of Finance on Friday showed, according to a report by news agency Tanjug. In nominal terms, the April public debt was down EUR 370 million relative to ELTE-LED CONSORTIUM WINDS UP DRUG DEVELOPMENT PROJECT 22 hours ago · A consortium led by Budapest's Eötvös Loránd University (ELTE) has completed a HUF 1.8 billion project to develop a drug to treat patients suffering from spastic limbs after stroke, ELTE told news agency MTI. The compound the consortium developed, MPH-220, promotes neurite growth to TUNGSRAM PARTNERS WITH HUNGARIAN AG UNI 23 hours ago · Hungary's Tungsram and the Hungarian University of Agriculture and Life Sciences will set up a joint research institute and an off-campus faculty at the lighting company's base in Budapest, the partners said after signing a cooperation agreement on Monday,according to
HELLOPARKS TO DEVELOP 400,000 SQM GLA LOGISTICS MEGAPARK 20 hours ago · HelloParks, a member of Futureal Group, will develop a logistics park offering a total of 400,000 sqm of GLA in Páty (16 km west of Budapest), according to a press release sent to the Budapest Business Journal. The new development, located next to the M1 motorway is the largest project in the HUNGARY OPENS VACCINATION REGISTRATION TO FOREIGN Hungary will open registration for vaccination against the coronavirus to foreign residents without a national health insurance card from today, the country's chief medical officer Dr. Cecília Müller said at a daily press briefing yesterday, according to koronavirus.gov.hu, the government's official coronavirus website.×Close
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BUDAPEST JOINS C40 CLEAN CONSTRUCTION DECLARATION The mayors of Budapest, Oslo, Los Angeles, and Mexico City have pledged to halve emissions from all construction activities in their cities by 2030, in collaboration with leading companies and innovative business communities, according to a press release sent to the Budapest Business Journal. 3,806 NEW CORONAVIRUS CASES REGISTERED IN HUNGARY The number of active coronavirus cases in Hungary stands at 137,553, with 3,806 new cases and 106 new deaths registered since yesterday, according to data by government coronavirus information sitekoronavirus.gov.hu.
LONG-TERM PLAN TO RESTORE ECONOMIC GROWTH The hoped for “V”-shaped recovery is a thing of the past. The finance minister said at a hearing in the Parliament that it is clear the economy will only recover at a slow pace from the coronavirus pandemic. His ministry is now working on a plan to restore the economy’s growth momentum through financial restructuring covering the next three and a bit years. DILIGENT TO BUILD GLOBAL PRODUCT INNOVATION CENTER IN HUNGARY U.S. company Diligent Corporation today announced that it is establishing its new Center for Global Product Innovation in Budapest, creating more than 300 tech jobs in the city, according to a press release sent to the Budapest Business Journal. 3,929 NEW COVID-19 CASES REGISTERED IN HUNGARY The number of active coronavirus cases in Hungary stands at 133,853, with 3,929 new cases and 117 new deaths registered since yesterday, according to data by government coronavirus information sitekoronavirus.gov.hu.
* Budapest joins C40 Clean Construction Declaration * 3,806 new coronavirus cases registered in Hungary * Long-term Plan to Restore Economic Growth * Diligent announces new Center for Global Product Innovation inBudapest
* 3,929 new COVID-19 cases registered in Hungary*
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FŐTAXI WINS BUDAPEST AIRPORT TENDER FOR 3RD TIME Főtaxi has won Budapest Airportʼs passenger transport tender so it will be the official taxi company of the airport operator for another five years from December, state news wire MTI reports.*
IHG DEBUTS CROWNE PLAZA BRAND IN BUDAPEST IHG (InterContinental Hotels Group) has signed a management agreement with Gránit Pólus Group for a property in Budapest to be re-branded to Crowne Plaza Budapest in 2021, according to a press release sent to the Budapest Business Journal.*
Promotion
TESZTALLOMAS.HU: FAST, SECURE CORONAVIRUS TESTS FOR EMPLOYEES Tesztallomas.hu is the first drive-through coronavirus testing facility which provides a complete and convenient solution for the general public, from easy online booking to result notification. The company is currently present at four fixed central locations, such as the Budapest Groupama Aréna and Bikás tér. __ Mon, Nov. 16, 2020, 11:10* Tesztallomas.hu
* coronavirus
* testing
* health
* pandemic
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Region
KOSOVOʼS TRADE GAP SHRINKS IN OCTOBER Kosovoʼs trade deficit decreased by 5.5% year-on-year to EUR 267 million (USD 317 million) in October, as exports increased more than imports, the countryʼs statistical office said. __ Wed, Nov. 25, 2020, 16:30* Kosovo
* trade
* economy
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INDUSTRY SHOWS VITAL SIGNS BUT OVERALL OUTLOOK WORSENS Although August industrial output data is promising, the outlook for the Hungarian economy has deteriorated, according to analysts. It seems that the second wave of the pandemic will surely take its tollon Hungary.
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Politics
ORBÁN, MORAWIECKI TO MEET IN BUDAPEST ON THURSDAY Prime Minister Viktor Orbán will meet with his Polish counterpart Mateusz Morawiecki in Budapest on Thursday, the PMʼs press chief confirmed on Wednesday, according to a report by state news wire MTI. __ Wed, Nov. 25, 2020, 15:40* Orbán
* Morawiecki
* Budapest
* politics
* EU
* rule of law
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Region
POLAND RETAIL SALES DROP IN OCTOBER Polandʼs retail sales fell 2.3% year-on-year in October, after a 4.6% growth in the same month last year, figures from the Warsaw-based Central Statistical Office (GUS) show. __ Wed, Nov. 25, 2020, 14:30* Poland
* retail
* sales
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Region
LITHUANIA INDUSTRIAL PRODUCTION RISES IN OCTOBER Lithuaniaʼs industrial production rose a working-day adjusted 1.6% year-on-year in October, figures from Statistics Lithuania (LS) showedon Monday.
__ Wed, Nov. 25, 2020, 12:30* Lithuania
* industrial production* economy
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Politics
U.K. GOVʼT STARTS MAIL CAMPAIGN TO NATIONALS IN EU TO PREPARE FORBREXIT
The U.K. government has written to 365,000 U.K. nationals living in Europe (including 1,085 letters to nationals in Hungary) with advice on the actions they need to take to prepare for the end of the Brexit transition period on December 31, the British Embassy in Budapest tells the Budapest Business Journal. __ Wed, Nov. 25, 2020, 12:05* United Kingdom
* EU
* Brexit
* preparation
* Paul Fox
* politics
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SURPRISINGLY POSITIVE OUTLOOK IN THE MIDST OF A CRISIS Much to the surprise of many, an international credit rating agency has improved Hungary’s outlook in the middle of the coronavirus crisis. However, analysts still predict a large scale setback for the economy and a slow recovery for the country.*
Economy
ÁKK SELLS HUF 45 BLN OF SECURITIES AT AUCTION, OVER PLAN The Government Debt Management Agency (ÁKK) sold a combined HUF 45 billion of securities at auction on Wednesday, HUF 10 bln more than planned, according to a report by Hungarian news agency MTI. __ Wed, Nov. 25, 2020, 11:50* ÁKK
* auction
* bonds
* economy
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Region
TOTAL FOREIGN REMITTANCES TO SERBIA DECLINE IN JAN-SEPT Total foreign remittances to Serbia decreased by 15.5% year-on-year to EUR 2.494 billion (USD 2.963 billion) in the first nine months of 2020, central bank data shows. __ Wed, Nov. 25, 2020, 10:30* remittance
* Serbia
* bank
* finance
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Economy
8TH GRADERS TAKE CAREER GUIDANCE SURVEY The Office of Education has introduced a national career guidance survey this year, which they now want to conduct annually for eighth-graders, writes hrportal.hu. __ Wed, Nov. 25, 2020, 10:00* education
* career
* guidance
* survey
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Economy
NEW MEASURES STREAMLINING BANKING PROCEDURES APPROVED The Economic Defense Operative Corps, the body coordinating Hungaryʼs response to economic fallout from the coronavirus crisis, approved a package of measures that will make managing financial matters easier, cheaper and faster at a meeting on Tuesday, Finance Minister Mihály Varga said, according to a report by state news wire MTI. __ Wed, Nov. 25, 2020, 09:30* banking
* finance
* economy
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INVESTMENT VOLUME FALLS AFTER YEARS OF EXPANSION The main reason for the decline in investment volume in the first quarter of the year is not the oft-blamed coronavirus pandemic, but the decrease in utilization of EU funds. The fallback on a yearly basis was somewhat of a surprise for analysts, and the effects of the pandemic are yet to be seen in the next quarter.*
Economy
NMHH: CALLS, INTERNET TRAFFIC UP IN EPIDEMIC, SMS USE FALLS Call traffic increased by about a sixth and Internet traffic by a third in the first half of 2020 due to the coronavirus epidemic, while the number of SMS messages fell by a quarter compared to the end of 2019, according to the latest mobile market report of the National Mobile and Communications Authority (NMHH), writes origo.hu. __ Wed, Nov. 25, 2020, 09:00* NMHH
* internet
* tech
* epidemic
* message
* sms
* communication
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Region
LATVIA PRODUCER PRICES DECLINE SLOWS IN OCTOBER Latviaʼs producer prices declined at a softer pace in October, figures from the Riga-based Central Statistical Bureau (CSB) showed onMonday.
__ Wed, Nov. 25, 2020, 08:30* Latvia
* prices
* economy
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Economy
HUNGARIAN ELECTRICITY, GAS PRICES AMONG LOWEST IN EU In the first half of 2020, Hungary had the joint-lowest natural gas prices and second-lowest electricity prices in the entire European Union, according to data by statistical agency Eurostat. __ Tue, Nov. 24, 2020, 15:10* gas
* electricity
* Eurostat
* economy
* prices
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Region
POLAND EXTENDS CORONAVIRUS RESTRICTIONS Restaurants, cinemas, theaters, and gyms will remain closed until December 27, amid an ongoing second wave of the coronavirus pandemic in Poland, the countryʼs Prime Minister announced, according to a report by Polish Radio. __ Tue, Nov. 24, 2020, 14:30* Poland
* coronavirus
* restrictions
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TIE STRINGS LOOSENED ON DEFICIT TARGET Apparently wedded to the idea of a “V”-shaped crisis, the government has updated its EU Convergence Program, stating that this year’s recession will be followed by a quick recovery. However, the European Commission paints a much darker picture about the near future of the Hungarian economy.*
Economy
ÁKK SELLS HUF 15 BLN OF THREE-MONTH T-BILLS AT AUCTION, AS PLANNED The Government Debt Management Agency (ÁKK) sold HUF 15 billion of discount three-month T-bills at auction on Tuesday, in line with the original offer, according to a report by state news wire MTI. __ Tue, Nov. 24, 2020, 14:00* Ákk
* auction
* bonds
* Tbills
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Economy
CHAMBERS DECLARE SUPPORT FOR CONSCIOUS BUSINESS CULTURE INITIATIVE Three chambers of commerce and a business club jointly signed a declaration in support of the Initiative of Conscious Business Culture by Bridge Budapest, according to a press release sent to the BudapestBusiness Journal.
__ Tue, Nov. 24, 2020, 13:30* Bridge Budapest
* chambers
* business
* economy
* consciusness
* sustainability
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Business
MASTERPLAST BOARD TO DECIDE ON HUF 6 BLN BGS ISSUE The board of listed building materials manufacturer Masterplast will decide on a bond issue up to HUF 6 billion in the framework of the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB) at a meeting on December 14, the meeting agenda posted on the website of the Budapest Stock Exchange shows, according to a report by state news wire MTI. __ Tue, Nov. 24, 2020, 13:00* Masterplast
* BGS
* business
* economy
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Region
BOSNIAʼS TRADE GAP NARROWS 20% IN JAN-OCT Bosniaʼs trade deficit decreased by 20% year-on-year to BAM 5.3 billion (USD 3.2 billion) in the ten months through October, the countryʼs statistical office said last week. __ Tue, Nov. 24, 2020, 12:30* Bosnia
* trade gap
* economy
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THAT IT WILL HURT, ALL AGREE, BUT OPINIONS VARY AS TO HOW MUCH The government has been fine-tuning its economic plan to weather the crisis, and further steps are yet to be seen. The novel coronavirus pandemic will take its toll on the Hungarian economy, but opinions – even among government members – vary about the extent of the unavoidable setback.*
News
KREINBACHER WINS GOLD AT CSWWC Kreinbacherʼs Brut Classic 2016 Magnum has won a gold medal at this yearʼs Champagne and Sparkling Wine World Championships (CSWWC), the Hungarian vintner told state news wire MTI. __ Tue, Nov. 24, 2020, 11:30* Kreinbacher
* Champagne
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Region
POLAND INDUSTRIAL PRODUCTION RISES, PRODUCER PRICES FALL Polandʼs industrial production grew 1.0% annually in October, figures from the Warsaw-based Central Statistical Office (GUS) showed. __ Tue, Nov. 24, 2020, 10:30* Poland
* industry
* production
* prices
* economy
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Business
CORONAVIRUS INCREASING DIGITALIZATION AMONG THE ELDERLY According to a recent, representative study, the coronavirus epidemic has led to an increase in the demand for mobile communications requiring data traffic among people over the age of 60, according to the National Media and Communications Authority (NMHH), writesnovekedes.hu.
__ Tue, Nov. 24, 2020, 10:00* coronavirus
* digitalization
* economy
* elderly
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NEW PUBLICATION
TOP EXPAT CEOS IN HUNGARY 2019-2020 The most influential expat CEOs in the Hungarian economy READ NOW OR DOWNLOADNEWS ANALYSIS
* Hungary ranks in top third of countries in Female OpportunityIndex
* COVID fails to curb Black Friday excitement in Hungary * COVID-19 rearranges priorities of CFOs, PwC saysLATEST NEWS
* November 25, 2020
* 16:30Kosovoʼs trade gap shrinks in October * 15:40Orbán, Morawiecki to meet in Budapest on Thursday * 15:00Budapest joins C40 Clean Construction Declaration * 14:30Poland retail sales drop in October * 13:45Főtaxi wins Budapest Airport tender for 3rd time * 13:00IHG debuts Crowne Plaza brand in Budapest * 12:30Lithuania industrial production rises in October * 12:05U.K. govʼt starts mail campaign to nationals in EU to preparefor Brexit
* 11:50ÁKK sells HUF 45 bln of securities at auction, over plan * 11:003,806 new coronavirus cases registered in Hungary * 10:30Total foreign remittances to Serbia decline in Jan-Sept * 10:008th graders take career guidance survey * 09:30New measures streamlining banking procedures approved * 09:00NMHH: Calls, internet traffic up in epidemic, SMS use falls * 08:30Latvia producer prices decline slows in October* November 24, 2020
* 15:10Hungarian electricity, gas prices among lowest in EU * 14:30Poland extends coronavirus restrictions * 14:00ÁKK sells HUF 15 bln of three-month T-bills at auction, asplanned
* 13:30Chambers declare support for conscious business cultureinitiative
* 13:00Masterplast board to decide on HUF 6 bln BGS issue * 12:30Bosniaʼs trade gap narrows 20% in Jan-Oct * 12:00Diligent announces new Center for Global Product Innovation inBudapest
* 11:30Kreinbacher wins gold at CSWWC * 11:003,929 new COVID-19 cases registered in Hungary * 10:30Poland industrial production rises, producer prices fall * 10:00Coronavirus increasing digitalization among the elderly * 09:30PM signs decree on dedicated shopping hours for elderly * 09:00Planting seed harvest to remain behind target due to poorweather
* 08:30Croatia jobless rate up in October, monthly wage rises inSeptember
* November 23, 2020
* 16:30Bulgariaʼs Parliament amends tax laws, cuts VAT for restaurant-delivered food scroll for moreall times CETINSIDE VIEW
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DIGITAL TRANSFORMATION IN CEE: 2020 OPENS NEW HORIZONS DÓRA PETRÁNYI, CEE MANAGING DIRECTOR, HEAD OF TMTCMS, CMS Budapest
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GREENFIELD PROJECTS: EVERGREEN PROJECTS DR. SZILVIA ANDRISKA, SENIOR ASSOCIATE REAL ESTATE INVESTMENTS Noerr and Partners Law Firm*
PARKING ISSUES IN CONSTRUCTION PROJECTS: ADDITIONAL TASK OR UNEXPECTEDREDEMPTION FEE?
LÁSZLÓ KRÜPL (LL.M.), ATTORNEY, HEAD OF REAL ESTATE PRACTICE –HUNGARY
Schoenherr Hetényi Attorneys at LawRECOMMENDATIONS
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