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Hungary's 'Mészáros & Co.' Remains Interested in Local Telenor Arm

February 16. 2018.

Portfolio.hu

Hungary’s Konzum Nyrt., an interest of Lőrinc Mészáros, an ally of Prime Minister Viktor Orbán, maintains its interest in the telecommunications sector, Chairman-CEO Gellért Jászai told InfoRadio in an interview late on Thursday. He added that if Telenor’s local operation does indeed go up for sale, it could be a potential investment target for his company. The banking and insurance markets are also strategic businesses where Konzum would like to expand in, he said. More...

This Solar-Powered Sidewalk Can Charge an Electric Vehicle

February 15. 2018.

Digital Journal / By Karen Graham

As efficiency and durability in solar panels improves, we're seeing them installed in more and more creative places. Budapest, Hungary-based startup Platio has installed solar pavers on a sidewalk, paired with a charging station for electric cars. More...

Current Account Surplus Up in Q4

February 14. 2018.

MTI- Econews via Budapest Business Journal

Hungary had a current account surplus of EUR 884.7 million in the fourth quarter of 2017, up from EUR 805.8 mln in Q3, state news wire MTI-Econews calculated from preliminary balance of payments data released by the National Bank of Hungary (MNB) on Wednesday. More...

Hungary Lowering VAT On Food

February 13. 2018.

by Ulrika Lomas, Tax-News.com, Brussels

The Hungarian Government has said that it will continue its policy of reducing rates of value-added tax on various foodstuffs in 2018 to boost domestic agriculture and reduce food prices. The Ministry of Agriculture said in a recently published statement that additional VAT cuts on food will follow up those introduced on January 1 this year, when VAT on pork offal and by-products and fish was reduced from the standard rate of 27 percent to five percent. More...

STATISTICAL UPDATE: Construction

February 12. 2018.

Central Statistical Office

The volume of construction output was 35.0% higher in December 2017 than the low base a year earlier. Based on seasonally and working day adjusted indices, construction output increased by 3.9% in December compared to the previous month. In 2017, construction output grew by 29.6% year-on-year. In the year as a whole, construction producer prices rose by an average of 5.2% compared to 2016. Details

Better Off in Berlin? Think Tank Argues that Wage-Rent Ratio Worse in Budapest than in Many Western Capitals

February 16. 2018.

Hungary Today

At a recent event, experts from the Civitas Institute, a Budapest-based think tank, discussed the challenges facing young Hungarians who are at the beginning of their professional careers. Particular attention was paid to the financial struggles that, from a certain perspective, make it more financially attractive for Hungarians to live in London or Berlin than in Budapest. More...

Company of Former GE Hungary Head to Buy GE Lighting EMEA

February 15. 2018.

Budapest Business Journal

The company of the former chairman of the Hungarian unit of General Electric (GE), Jörg Bauer, has agreed to buy GEʼs lighting business in Europe, the Middle East, Africa and Turkey, as well as its global automotive lighting business, GE announced on Wednesday. The sides did not reveal the transaction price. More...

STATISTICAL UPDATE: Economic Performance Grows by 4.4%

February 14. 2018.

Central Statistical Office

The gross domestic product of Hungary was up by 4.4% according to raw data and by 4.8% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2017 compared to the corresponding period of the previous year. The main contributors to the growth were market-based services and construction. In 2017, GDP rose by 4.0%. Details...

Hungary Allots EUR 1 Bn for Investors in the Philippines

February 13. 2018.

Philippine Daily Inquirer

Hungary has allotted 1 billion euros (or more than P63.48 billion) for companies that plan to do business with the Philippines, following a recently concluded trade and investment mission in the European country, top officials said. More:

Fine Arts Museum to Reopen Later this Year

February 12. 2018.

Hungary Today

This year, exhibitions of Frida Kahlo, Francis Bacon, Lucian Freud and the School of London, and Dezső Korniss, among others, will be on display at the Hungarian National Gallery (MNG) and the Museum of Fine Arts. The latter institution will reopen after three years of renovations in October. More...