Hungary

Spy accusation scandal breaks out over IIB's move to Hungary

Ben Aris in London March 21, 2019

The multilateral development bank, International Investment Bank, has moved its headquarters from Moscow to Hungary, provoking accusations that it will become a nest of spies used by Russian security forces.

Merger of Extreme Digital and eMAG to create leading online retailer in CEE

Levente Szilagyi in Budapest March 21, 2019

Combined company to have annual revenue of around €220mn, and pave the way for eMag to enter five regional markets where Extreme Digital is already present.

European People's Party suspends Fidesz' membership

bne IntelliNews March 21, 2019

Viktor Orban's party manages to avoid expulsion from centre right grouping, as the Hungarian PM vowed to end his campaign against Brussels and apologise to Fidesz critics within the party group.

COMMENT: Fidesz exclusion from European People's Party - the start of a Hungarian Brexit?

Gunter Deuber of Raiffeisen Research in Vienna March 18, 2019

In the coming week, a closely watched decision the conservative European People's Party will decide if it wants to exclude Hungary’s Fidesz from its ranks.

Hungary's automotive sector outpaces industrial growth despite week-long strike at Audi

Levente Szilagyi in Budapest March 14, 2019

Last year the three leading car makers Audi, Mercedes, Suzuki turned out a total of some 500,000 cars or 2.8% of the 19mn cars manufactured in the EU.

Hungary online retail sales post double-digit growth

bne IntelliNews March 14, 2019

Online retail sales in Hungary grew 17% to HUF425bn (€1.3bn) last year, according to a survey by GKI Digital and Arukereso. E-commerce in Hungary accounted for 4.5% of total retail sales turnover last year.

European patent applications from CEE states rise

Clare Nuttall in Glasgow March 13, 2019

Applications to the European Patent Office from CEE states rose strongly in 2018, though in absolute terms they still lag international manufacturing hubs in Western Europe, North America and the Far East.

EPP leader Weber says differences remain after talks with Viktor Orban

bne IntelliNews March 13, 2019

Talks in Budapest just a week before EPP parties are due to vote on whether expel Hungary's ruling right-wing Fidesz from its ranks.

VOX: Fukuyama -- the end of history could look like Hungary

Andrew MacDowall in Vienna March 11, 2019

The “end of history” could see more countries like “highly corrupt” “illiberal democracy” Hungary rather than Denmark, according to renowned political scientist Francis Fukuyama.

European People's Party group leader Weber proposes talks with Orban

bne IntelliNews March 11, 2019

Orban’s right-wing nationalist party risks being kicked out of the European People’s Party,after launching a scathing campaign against European Commission President Jean-Claude Juncker.

Electric vehicles still in the slow lane in CEE

Clare Nuttall in Glasgow March 8, 2019

After a slow 2018 that saw the EU fall behind the US, EV sales are expected to revive in the EU as new models come on the market in the next few years, but the eastern part of the bloc remains far behind frontrunners like Sweden.

Hungarian central bank governor makes case for consolidation in banking sector

bne IntelliNews March 7, 2019

Gyorgy Matolcsy suggests based on its size, the Hungarian market can support only five or six big universal banks sustainably.

European People's Party leader gives ultimatum to Hungarian PM

bne IntelliNews March 6, 2019

Manfred Weber, leader of the EPP group in the European Parliament, said values of Christian Democracy are non-negotiable, as EPP prepares to debate whether to exclude Hungary's Fidesz.

State electricity firm opens Hungary's largest solar park

bne IntelliNews March 6, 2019

Solar accounts for 0.5% of Hungary's annual electricity production, but that will grow substantially as there are solar projects with total capacity of around 3,000MW in the pipeline.

CEE/CIS countries outperform income peers in terms of gender equality at work

Clare Nuttall in Glasgow March 5, 2019

Disastrous demographics and tightening labour markets will keep up the pressure on governments across the region to encourage women to enter and remain in the workforce.

EC debunks Hungarian government's claims in anti-Brussels campaign

bne IntelliNews March 1, 2019

Brussels comes down hard on Hungarian government over campaign that targeted European Commission President Jean-Claude Juncker and Hungarian-American businessman George Soros.

Hungarian central bank unveils recommendations to boost competitiveness

bne IntelliNews February 28, 2019

Even though Hungary's economy grew by 5% last year — one of the fastest rates in Europe — economists say that in the long term the country needs to improve productivity to ensure sustainable growth.

SK Innovation to build new battery plant in Hungary

bne IntelliNews February 28, 2019

Hungary is set to become the largest EV car battery producer in Europe after 2020 following investments by three of the big five Asian battery makers.

Hungarian IT education firm secures venture capital financing

bne IntelliNews February 27, 2019

Codecool IT, which launched a disruptive model to train people with digital skills and provide employee placement, is pursuing international expansion to other markets affected by CEE's labour squeeze.

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