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Hungary
Bayerngas Leaves Nabucco
The German natural gas company does not want to join the pipeline project.
January 28, 2013
“Germany overestimated, USA and China underestimated”
Trade with USA and Italy just as crucial for Austrian economy as trade with Germany, Bank Austria reports. "Made in Austria" products count for above-average proportion of Austrian exports.
January 26, 2013
Hungary: Real Wages Declining Persistently
In the first eleven months of 2012, real wages of Hungarian workers was down by 3.5%.
January 26, 2013
Hungary: Retail Trade Shrinks Significantly
The volume of sales in retail trade decreased by 4.1% in November.
January 25, 2013
Treichl: „BCR Will be Positive this Year“
Erste Group´s CEO Andreas Treichl thinks that the Romanian subsidiary Banca Commerciala Romania will not record losses in 2013.
January 24, 2013 · Updated: January 24, 2013; 21:58
Erste Group´s CEO Wants to Create CESEE Stock Exchange
Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).
January 23, 2013
Rostowski Calls for Further Interest Cuts
Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.
January 21, 2013
Hungary: Production of Main crops Decreases Sharply in 2012
In 2012, 25% less cereals were produced on a 2% larger area than in the previous year.
January 21, 2013
Hungary: Gross Earnings Grow Moderately.
Last year, gross earnings were up by 4.6%. As Hungary´s inflation rate comes at 5.7%, real earnings are still shrinking.
January 18, 2013
Hungary Wants Tax Treaty with Switzerland, Germany and Austria
Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.
January 17, 2013
Hungary: Construction Output Decreases
In November 2012, construction output was down by 11.7% on the high base a year ago.
January 17, 2013
Hungary: Poverty Grows Dramatically
More than 33% of Hungary´s citizens are at risk of poverty. Among the EU countries, Hungary ranks fifth.
January 16, 2013
EU: Romania and Hungary Have Highest Inflation Rates
Euro area annual inflation stable at 2.2%, Eurostat says.
January 16, 2013
Hungary: Sharp Decrease in Industrial Production
In November 2012, industrial gross output declined by 6.9% in volume compared to the same month of 2011.
January 16, 2013
Erste Group: Austerity Cuts Also in Austria
After sharp austerity measures in Romania and Hungary, the banking group wants to reduce personnel costs in Austria.
January 15, 2013
Hungary Has Highest Inflation Among EU Members
In December consumer prices increased by 5.0% compared to December 2011. I
January 15, 2013
CESEE: Chakrabarti Expects Stabilization
In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.
January 14, 2013
Fitch: Austrian Banking Industry Depends on CESEE
According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.
January 14, 2013
Hungary Suffers from Capital Outflow
Hungary´s banking industry faces a substantial loss of confidence. More and more Hungarians shift their deposits to foreign banks.
January 9, 2013
Foreign Trade With Hungary Shrinks
External trade in goods showed a surplus of € 704 million in November. Exports and imports fell by 1.7% in 2012.
January 9, 2013
Hungary: Negative Development in Industrial Sector
In November 2012 – according to preliminary data – industrial gross output declined by 6.9% compared to the same month of 2011.
January 8, 2013
Hungarian Opposition Optimistic to Come to Power in 2014
Hungary´s opposition leader Attila Mesterhazy seems to be convinced that Prime Minister Orban will be replaced in 2014.
January 8, 2013
CESEE Equity Market: Upside Trend after Slow Start
Country allocation: An overweight on Russia is a strong bet for the coming quarter and mostly based on liquidity searching for an option after Turkey performing so strongly, Erste Group says.
January 7, 2013
Hungary: No Mandatory Voter Registration
The Hungarian Constitutional Court rejected the law proposed by the government.
January 5, 2013
CESEE: Construction Industry Shrinks Further
The European research institute Euroconstruct expects a negative development for the construction industry in the CESEE region.
January 5, 2013
Hungary: Unemployment Rate Unchanged
In September–November 2012, the number of unemployed people was 468 thousand resulting in an unemployment rate of 10.6%.
January 4, 2013
Hungary: 55,000 More People in Work
In September–November 2012, the number of employed people was 3,925 thousand, 55 thousand more than a year ago. The employment rate of both men and women improved.
January 4, 2013
Hungary: Dissatisfaction Grows
More than the half of the Hungarians is dissatisfied with the country´s government.
January 3, 2013
Hungary: Public Deficit Declines
The deficit of the general government sector fell by 3.1 percentage points in the 3rd quarter of 2012.
January 3, 2013
Austrian Purchasing Power Abroad Shrinks
For Austrians, Hungary and Croatia still leading the list of top destinations. The Holiday euro is worth slightly more in many Eurozone countries than in Austria.
December 28, 2012
Hungarian Government „Do Not Need Help from IMF“
Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.
December 22, 2012
Hungary: Foreign Trade Grows Sligthly
Export and import volumes grew by more than 5% in October. In the first ten months, exports were up by 2.4%.
December 21, 2012
Bank Taxes: RZB Records Costs of € 168m
For Austrian RZB (Raiffeisen Zentralbank), bank taxes in Austria, Hungary and Slovakia come at € 168m. RZB will not leave Hungary, CEO Rothensteiner says.
December 20, 2012
Bank Austria: Poland and Turkey are Most Attractive
According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.
December 19, 2012
Poland and Hungary to Cut Interest Rates Further
Unlike the Czech Republic, Poland and Hungary still have some downward potential. The inflation rate is still below the base rate.
December 19, 2012
Hungary: Earnings Grow by 4.%
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5% in nominal terms.
December 18, 2012
Hungary Continues Downward Trend
In the third quarter, Hungary´s GDP contracted by 1.5%, OECD says. The whole year will bring similar results.
December 18, 2012
Hungary: Construction Output Increased by 1.4%
In October 2012, construction increased by 1.4% in output year-on-year. Within this, the construction of buildings decreased by 0.3% and that of civil engineering works grew by 2.7%.
December 17, 2012
Hungary: Industrial Production Declines
The volume of industrial production decreased by 1.7% in October.
December 14, 2012
CEE Countries May Join Banking Union
ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.
December 13, 2012
Hungary: Financial Transaction Tax May Increase
As the tax proceeds are behind the government´s expectations, the controversial tax may increase
December 13, 2012
Hungary Resolves 2013 Budget
Today, Hungary´s Parliament approved the budget for 2013, which contains a number of tax increases. According to critics, the budget will not hold.
December 12, 2012
Hungary: Inflation Grows Further
In November consumer prices increased by 5.2% compared to November 2011.
December 11, 2012
Turkey: „The EU Needs Us“
On the occasion of a visit in Hungary, Turkey´s Minister of European Affairs Egemen Bagis argued that the EU would benefit from Turkey´s accession.
December 11, 2012
CA Immo: New Tenants in Hungary
CA Immo was able to acquire new tenants for some 9,300 sqm office space in five Hungarian office properties over the past six months.
December 10, 2012
Hungary: Recession Deepens
The gross domestic product of Hungary decreased by 1.5% in the third quarter of 2012 compared to the corresponding period of the previous year.
December 7, 2012
Hungary: Tourism Industry Booms
In October, public accommodation establishments saw a 9.1% rise in arrivals.
December 5, 2012
Immofinanz: Major Contract in Budapest
Immofinanz Group announces extension of three leases covering 18,000 sqm at Atrium Park in Budapest.
December 4, 2012
Hungary Considers Reducing Foreign Exchange Reserves
In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 2012
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