Hungary

Extreme Digital, eMAG merger cleared

bne IntelliNews October 18, 2019

Hungary's competition watchdog cleared the merger of Hungarian online electronics retailer Extreme Digital with eMAG, a unit of South Africa's Naspers group on October 17, creating one of the largest online retail networks in CEE

Hungarian mayor in sex tape scandal quits Orban's Fidesz

Levente Szilagyi in Budapest October 16, 2019

Borkai clings on as mayor of Gyor in local elections by few hundred votes. Analysts say scandal was only tipping point for many voters, who dealt ruling party some big defeats.

VIENNEAST COMPASS: How many straws to break a camel’s back? How do illiberal economies attract so much FDI

Marcus How of Vienneast in Vienna October 15, 2019

On October 13, on either side of the Tatras mountains, “illiberal democrats” faced their latest litmus tests. The ruling parties of PiS and Fidesz retain their grip on power, but in both countries foreign investors don't seem to care

Hungary's opposition scores stunning upsets in local elections

Levente Szilagyi in Budapest October 14, 2019

Ruling Fidesz party loses Budapest after nine years. Overall results across country amount to first serious electoral reverse for Viktor Orban since 2010.

Samsung announces €1.2bn expansion of Hungarian EV battery plant

bne IntelliNews October 11, 2019

Ambitious expansion plans for the plant near Budapest will make it one of the largest in the world, as Hungary becomes a centre of EV battery production for Europe's growing electric car industry.

M&A deals decline in Central, Southeast and Eastern Europe in 1H19

Clare Nuttall in Glasgow October 9, 2019

Fall in volume and value of deals revealed in CMS/Mergermarket report is in line with decline seen across Europe as economic slowdown, Brexit uncertainty and global trade wars hit sentiment.

Hungary's industrial growth slows down in August

bne IntelliNews October 8, 2019

The output of Hungary's industrial sector edged up 0.3% y/y in August, slumping from 12% growth in the previous month, the statistics office KSH said, as growth in the automotive segment slowed significantly.

Sex, corruption, cocaine, Hungary’s election campaign gets dirty

Levente Szilagyi in Budapest October 7, 2019

An anonymous blogger has released a sex video showing Zsolt Borkai, the Fidesz mayor of one of Hungary's largest cities, on a yacht with prostitutes less than one week before the local government elections, local media reported on October 6.

Hungary utility-scale solar capacity reaches 1.1GW

bne IntelliNews October 7, 2019

Hungary can rely on two energy sources, nuclear and solar energy to meet the climate goals set out in the Paris Agreement, said President Janos Ader recently.

Pan-European wave of consolidation threatens to ground small Central, Southeast European airlines

Clare Nuttall in Glasgow October 4, 2019

Slovenian national carrier Adria Airways's decision to file for bankruptcy followed the demises of a series of other European airlines against the underlying trend of an air transport market in the throes of consolidation.

Hungary fills up gas storage facilities to full capacity

bne IntelliNews October 3, 2019

Foreign Minister Peter Szijjarto says move guarantees domestic supply security and allows Hungary to store gas for other countries, after Gazprom agrees to top up Hungary's gas reserves.

GS Yuasa inaugurates EV battery plant in Hungary

Levente Szilagyi in Budapest October 2, 2019

Four South Korean e-car battery makers have chosen Hungary for their production sites, as European car manufacturers prepare to expand or replace their existing models with new fully electric or hybrid models.

Hungary launches new investment incentives

Levente Szilagyi in Budapest October 1, 2019

Hungary has reached the limit of new job creation so the goal will shift from creating workplaces to strengthening technological development and R&D.

European Parliament committee rejects Hungarian, Romania commissioners-designate

bne IntelliNews September 27, 2019

In an unprecedented development, MEPs Rovana Plumb and Laszlo Trocsanyi were rejected by the European Parliament Committee on Legal Affairs over conflicts of interest.

Hungarian government ready to fight "brandy war" ahead of local elections

bne IntelliNews September 26, 2019

The Hungarian government will fight to reverse a ruling on taxing palinka, the traditional fruit brandy, a popular theme among rural voters where the ruling Fidesz party is expected to secure another landslide.

VIENNEAST COMPASS: Hungary punching above its weight in regional SEE politics

Marcus How of ViennEast September 23, 2019

The incoming president of the European Commission, Ursula von der Leyen, took an unexpected decision of nominating Hungarian Laszlo Trocsanyi as commissioner for expansion as Hungary increases its influence in the region

Hiventures partners with Budapest bourse to support IPOs

Levente Szilagyi in Budapest September 20, 2019

State-owned venture capital fund Hiventures will pick companies it deems bourse-ready from its portfolio and ready them for inclusion on the stock exchange's Xtend market.

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