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Hungary

Raiffeisen Bank International: Sale of Hungarian Affiliate No Taboo Anymore

As reported by Vindobona, Vienna-listed RBI is examining offers for the Hungarian subsidiary. For RBI, Hungary is the biggest loss-maker.

November 20, 2013

Austria: High Tax Country

According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.

November 19, 2013

RBI Examines Sale Offers in Hungary

Apart from the withdrawal from Ukraine, Raiffeisen Bank International (RBI) considers an exit from Hungary.

November 19, 2013

Nowotny: Must Avoid Bubble in CESEE

In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.

November 19, 2013

Hungary: NPLs at Record High

The number of NPLs has reached a new record high, according to MNB.

November 18, 2013

Hungary: Level of Credit Defaults Declining Significantly

According to OTP Bank, the level of credit defaults from borrowers has started to drop to the lowest level since the beginning of the financial and economic crisis.

November 15, 2013

Half of Austrians Consider the Country Stuck in Recession

According to an online survey, the Austrians are confident and not concerned by the most recent recession in the Eurozone. With a total of 87 index points consumer’s confidence remained stable in the third quarter of 2013.

November 12, 2013

Frame Conditions for Banks Remain Difficult in Hungary

The Hungarian banking sector is highly dissatisfied with the regulation environment, the European Bank for Reconstruction and Development reported.

November 9, 2013

Unequal Retail Real Estate Investment Activity in CESEE

While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.

November 8, 2013

Banking Sector Reduces Lending

Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.

November 6, 2013

Hungary: Parliament Resolves Bank Act

The Hungarian banking sector, which is dominated by Austrian banks, faces new difficulties.

November 5, 2013

Hungary: Another Bad Surprise for Banks

The Hungarian government plans to shift even more burdens to the banking sector. Costs for the banking sector will reach more than € 3.5bn.

November 4, 2013

Hungary: Unemployment Continues Downward Trend

In September, Hungary´s unemployment rate was down by 0.6 percentage points. The number of jobseekers is 8.1% less than in 2012.

November 1, 2013

Hungary: Moderate Increase in Foreign Trade

From January to August 2013, Hungary´s export volume was up by 1.4%. Imports increased by 0.4% year-on-year.

November 1, 2013

Visegrad Countries Encourage Western Balkans to Join EU

Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.

October 31, 2013

Hungary: Conflict with Banks Sharpens

Hungary´s Minister of Finance Mihaly Varga rejects the proposal submitted by the banking association.

October 29, 2013

Czech Republic: Social Democrats to Win

Tomorrow, the Czech Republic will hold early elections. All polls are indicating a clear change in power. Bohuslav Sobotka is expected to become the next head of government.

October 25, 2013

Hungary: Orban Underlines National Sovereignty

On the occasion of Hungary´s national holiday, Prime Minister Viktor Orban stressed the importance of values. The high public debt limits Hungary´s effective sovereignty, however.

October 24, 2013

Public Debt: CESEE Countries Below EU Average

At the end of the first half of 2013, the EU public debt quota reached 86.8% of GDP. Western Europe´s public debt level is significantly higher than in Eastern Europe.

October 23, 2013

„Czech Republic Does Not Fully Use Its Potential“

Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.

October 17, 2013

Austria: RBI Expects Stabilization

Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.

October 17, 2013

Hungary’s Industrial Output Growth Exceeds EU average

In August this year, industrial performance – according to workday-adjusted data – increased by 0.9 percent in comparison to the corresponding period of 2012.

October 17, 2013

Poland: 70 Percent against Introduction of Euro

According to a recent survey carried out by Public Opinion Research Center (CBOS) as many as 70 percent reject the idea of introducing the Euro to Poland.

October 15, 2013

Solution to Croatian/Hungarian Mol Issue Expected Soon

The Croatian justice has issued an international arrest warrant for the head of Hungarian oil company Mol.

October 15, 2013

IMF: Hungary´s Fiscal Situation Deteriorates

According to the IMF, Hungary´s public debt quota will increase. This stands in opposition to the optimistic forecasts of the government.

October 15, 2013

Moody’s: Poland Threatened by Outflow of Foreign Funds

Rating agency Moody’s evaluates the country being moderately exposed to the risk of foreign outflows.

October 14, 2013

FX Loans: ECB Warns Hungary

ECB´s governor Mario Draghi warns Hungary. The conversion of foreign currency loans may sharpen the credit crunch.

October 14, 2013

Hungary: Borrowing Costs Decline

Yields on Hungarian sovereign bonds reached an all-time low. However, a rebound in 2014 is rather probable.

October 12, 2013

Southeastern Europe: Property Market Clashes

Since mid-2012, the property market in Southeastern Europe shrinks drastically. In Croatia, house prices fell by 20%.

October 10, 2013

Hungary and Croatia to Solve MOL/INA Issue

Both Hungarian Minister of Foreign Affairs Janos Martonyi and his Croatian counterpart Vesna Pusic intend to solve the issue between Hungarian MOL and Croatian INA.

October 9, 2013

FriedlResearch has Published the Q3-2013 Company Report of Erste Group Bank AG

This report contains in depth information and data about Erste Group and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecast data, SWOT analysis, plus data on key events.

October 8, 2013

Latest Edition of the SWOT Report of Raiffeisen Bank International has been Published

FriedlResearch has announced the publication of the latest edition of the "Raiffeisen Bank International AG - SWOT Analysis & Company Report". This report contains in depth information and data about RBI and its operations and markets.

October 8, 2013

Strabag Lands Highway Construction Deal in Hungary

Austrian construction company Strabag has landed a deal for building a highway section in return for € 106m.

October 8, 2013

Romania: Bucharest Stock Exchange to Be Enlarged?

Ludwik Sobolewski, new CEO of Romania’s Bucharest Stock Exchange (BSE), is toying with the idea of enlarging the institution and making it a competition to Budapest, Vienna and Prague withing two years only.

October 7, 2013

Hungary Rejects Extradiction of Head of Mol

A Hungarian court rejected the extradiction of Zsolt Hernadi, who is alleged of having bribed former Croatian Prime Minister Ivo Sanander.

October 7, 2013

Hungary´s Government: Budget Draft “Risky”

This week, Hungary´s government has submitted the budget draft to the Hungarian Parliament. The basic assumptions are rather optimistic.

October 5, 2013

Hungary: Easing Cycle Nears Its End

After the interest cut last week, there is still downward potential. However, MNB must be cautious, Hungary´s rate setter Gyula Pleschinger told WSJ.

October 4, 2013

CESEE: Recovery Slow, but Stable

Corporate sentiment improving in major CEE countries as well, as the economic recovery begins to take root. Low point in interest rates has essentially been reached, rises in yields to follow trends in the developed markets, RZB says.

October 4, 2013

Hungarian MOL May Withdraw from Croatia

The Hungarian government considers selling MOL´s Croatian peer INA.

October 4, 2013

Hungary: Net Exports Grow Slightly

In the seventh month of 2013, the export volume of external trade in goods increased by 7.4%, while the volume of imports grew by 6.4% year-on-year.

October 3, 2013

Economic Upturn in Austria, Eurozone and CEE

Turbulent Emerging Market conditions have little impact on CEE.

October 2, 2013

Hungary: Budget Deficit Higher Than Planned

In the first half of 2013, Hungary´s preliminary deficit came at 2.6% of GDP. The government anticipates that the deficit will not exceed 3.0% of GDP this year.

October 1, 2013

Austrian Competitiveness Under Pressure

Last year, Austrian labor costs grew stronger than productivity.

October 1, 2013

CESEE: Consumer Loans Decline Considerably

Since 2008, Austrian consumers tend to refrain from consumer credits. In the CESEE countries, the downward trend is even more obvious.

September 29, 2013

Austria: Fitch Confirms Triple A

Austria´s main weak point is the banking sector, the rating agency criticizes.

September 28, 2013

Hungary: Official Unemployment Rate Below 10%

Hungary´s statistical office KSH has published the newest labor market data today. The real labor market conditions in Hungary are expected to be substantially worse.

September 27, 2013

Hungary is Seeking New Creditors

The Hungarian public debt agency AKK intends to sell more sovereign bonds in Asia. Compared to other European countries, Hungary´s debt burden causes severe difficulties.

September 27, 2013

Croatia: Entry into Schengen Important, Not Decisive

Croatia plans to apply for accession to the Schengen passport-free area in two years.

September 27, 2013

Hungary: Competitiveness of Industrial Sector Shrinks

Regarding Hungary´s competitiveness, there is a clear downward trend. This year, Hungary is expected to achieve an economic turnaround.

September 24, 2013

Poland Leads Ranking of Top Enterprises in CEE

Credit insurance company Coface has for the fifth time published a study about the Top 500 enterprises in Central and Eastern Europe.

September 24, 2013
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