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Accelerating rise in job vacancies in Hungary

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The annual rise was only 13% in Q1 2015, but has been accelerating every quarter since Q1 2017, state news agency MTI noted. There were just over 79,400 job vacancies overall in Q1 2018, up by more than 6,000 from the previous quarter, and up by almost 20,000 from a year earlier, the data show. Some 31% of all vacancies ... Read More »

HUNGARY’S FOREIGN MINISTER CALLS FOR EUROPE-US-CHINA DEAL TO PRESERVE FREE TRADE

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Hungary urges Europe, the United States and China to sign an agreement on preserving free and fair global trade and preventing a global trade war, Foreign Minister Péter Szijjártó said in Ningbo, China, on Thursday. Szijjártó, who is on a three-day visit to China, attended a “16+1” meeting of Chinese and central and eastern European trade ministers after holding bilateral ... Read More »

RAIFFEISEN TO “OPTIMISE” HUNGARIAN BUSINESS

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Vienna:Chief Executive Officer Karl Sevelda of Austria’s Raiffeisen Bank International said in Vienna on Tuesday that the bank will close some branches in Hungary and focus more on corporate clients and premium private clients. The Hungarian market is far too important to give up and Raiffeisen plans to continue its operations in Hungary as a rationalised universal bank, he added. ... Read More »

Finns to share data in bid for state of permanent wellbeing

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HELSINKI: Finland a land of lakes and forests, used to be known for tangible things: sawn pine timber for furniture, then Nokia mobile phones. Now its claims to fame are intangible. Its schools were the world’s best before being eclipsed by those in Shanghai and Singapore. It is still the world’s happiest country but this, too, is in the balance ... Read More »

George Soros: Foundation quits Hungary over ‘repressive’ policies

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The foundation of philanthropist George Soros has said it is closing its office in Hungary, blaming the move on an “increasingly repressive” environment. Open Society Foundations (OSF), which funds non-governmental organisations (NGOs), says it will move its operation to the German capital, Berlin. Hungarian Prime Minister Viktor Orban’s right-wing government has said it plans to tighten restrictions on NGOs. Re-elected ... Read More »

Budget Deficit Close to 80% of Full-Year Target

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Hungary’s cash flow-based budget, excluding local councils, ran a 1,081.4 billion forint (EUR 3.4bn) deficit at the end of April, the economy ministry said in a preliminary release. Pre-financing for EU projects drove the rise, the ministry said. The deficit reached 79.5% of the 1,360.7 billion forint full-year target. The central budget was 1,119.5 billion forints in the red and ... Read More »

HUNGARY INFLATION 2.3 PC IN APRIL

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Consumer prices in Hungary grew by an annual 2.3 percent in April, accelerating from 2 percent in the previous month, the Central Statistical Office (KSH) said. KSH statistician Borbála Minary said the annual price inflation of spirits, tobacco and food was the steepest while the average price rise of food grew by 4.2 percent. Compared with March, the price of ... Read More »

HUNGARY’S PURCHASING MANAGERS INDEX FALLS TO 53.3pc

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Hungary’s seasonally adjusted Purchasing Managers Index (PMI) fell to 53.3 points in April from a revised 56.6 points in March, Halpim, the association that compiles the index, said In its original data release on April, Halpim said the PMI was at 57.0 points in March but it revised its number to a lower value. In April among the sub-indices that ... Read More »

Fossil fuels roar back in a world hungry for energy

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BUDAPEST: Green car enthusiast Matthew Klippenstein pulls his early model plug-in Prius into a Tim Hortons in Maple Ridge, B.C., to take my call. As gas prices begin to soar again Klippenstein, an engineer who, among other things, writes about the latest developments in battery-powered vehicles for Green Car Reports, tries not to sound smug. Even before Alberta’s threats to penalize British Columbia for blocking its planned ... Read More »

IMF raises GDP growth forecasts for Hungary

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BUDAPEST: The IMFʼs 2018 projection was raised from 3.4% in a forecast released last November. Hungaryʼs government projects GDP growth of 4.3% this year, noted state news wire MTI. Following annual average inflation of 2.4% in 2017, the IMF projects inflation rising to 2.7% in 2018, and to 3.3% in 2019. The latter two forecasts represent a 0.5 of a ... Read More »

Minsk wants to see more Belarusian products on sale in Budapest

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BUDAPEST: Minsk would like to see more Belarusian products on sale in retail chains of Budapest. This issue will be high on the agenda of the Days of Minsk in Budapest on 19-21 April, Minsk Vice Mayor Alexander Krepak said at a press conference on 10 April, BelTA has learned. “The bilateral trade has been gaining momentum. Last year it ... Read More »

Pro-migrant groups targeted after Hungary’s election

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BUDAPEST: A day after it won an overwhelming election victory on an anti-migration platform, the right-wing populist party of Hungarian Prime Minister Viktor Orban said it would limit the ability of civic groups to help migrants and refugees. Election officials Monday were still counting mailed ballots, which added another seat to the Fidesz party’s super-majority and gave it control over ... Read More »

Hungary’s Viktor Orban wins third straight term in power

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BUDAPEST: Prime Minister Viktor Orban won a third straight term in power in Sunday elections after his anti-immigration campaign message secured a strong majority for his party in parliament, granting him two-thirds of seats based on preliminary results. The right wing nationalist prime minister projected himself as a saviour of Hungary’s Christian culture against Muslim migration into Europe, an image ... Read More »

Hungary PM Orban on track for third straight term in power

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BUDAPEST; Viktor Orban, Europe’s hard-liner on immigration, is set to win a third straight term in elections on Sunday after a campaign in which he has positioned himself as a saviour of Hungary’s Christian values and culture from a flood of Muslim migrants. An emphatic victory could embolden Orban, Hungary’s longest serving post-communist prime minister, to solidify a Central European alliance ... Read More »

Hungary PMI edges down to 57.0 in March

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BUDAPEST: Hungaryʼs seasonally adjusted Purchasing Managersʼ Index (PMI) slipped slightly to 57.0 points in March, from 57.2 in February, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Tuesday. An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction. Among the sub-indices that comprise the ... Read More »

Investors root for slim orban victory in Hungary vote

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BUDAPEST: Investors would prefer that Hungarian Prime Minister Viktor Orban win a small majority in Sunday’s elections to build on his economic policies but fall short of a landslide victory that could let him double down on his illiberal political agenda.  The preference for stability means the market reaction to a victory by Orban’s Fidesz party may be muted.A scenario ... Read More »

Budapest airport handles record cargo volumes in 2017

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BUDAPEST: The Hungarian hub ended the year with a balanced market share, with imports at 47.8 per cent, and exports at 52.2 per cent. January to February 2018 figures were a record 21,750 tons, up 17.4 per cent on the same period last year. Our cooperation agreement with STO Express and EKOL last year is testament to our continuous commitment ... Read More »

Hungary’s Orban courts diaspora for election boost

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BUDAPEST: Hungarians officially part of the Hungarian nation again” after the post-World War I Trianon Treaty handed over swathes of territory and population to neighbouring countries. And thanks to rule changes in 2012, these dual citizens abroad can vote by post in Hungary’s elections — including on April 8. All but a handful of those registering to vote are expected ... Read More »

Net external financing capacity 1.8% of GDP

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BUDAPEST: The adjusted Q4 surplus was down from the third quarter, when it reached EUR 830 mln, state news wire MTI reported. The unadjusted net external financing capacity came to EUR 628 mln in Q4, down from EUR 897 mln in the third quarter of the year. The seasonally adjusted surplus in the trade in goods amounted to EUR 364 ... Read More »

Chocolate production to be revived in Hungary

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BUDAPEST: The plant to manufacture products of the brand name Vadász (Hunter) is to start its operation at the end of 2019, with a staff of 150 people. This development project constitutes a key phase in the revival of Hungary’s once world-class sector, the food industry, more specifically the confectionery industry, commented Levente Magyar, state secretary at the Ministry of ... Read More »