HungaryTrends – The previous week in business and finance

Budapest (MTI) – Following are some of the top business and finance stories this week:

MOL CLIMBS ON BACK OF INA BUYOUT ANNOUNCEMENT

Shares of Hungarian oil and gas company MOL gained 2.66 percent to 20,635 forints on the week. The share price rose after Croatian Prime Minister Andrej Plenkovic’s announcement on Saturday that the state would buy back MOL’s stake in INA. The announcement followed an international arbitration court’s decision dismissing the Croatian government’s claims against MOL on bribery, corporate governance and alleged breaches of a shareholders agreement.

HUNGARY PLANS EUR 1.2BN OF FX ISSUES IN 2017

Hungary’s government plans 1.2 billion euros of foreign currency issues next year, though the final amount could be bigger or smaller depending on market opportunities, Economy Minister Mihaly Varga said. Hungary could tap euro, dollar, yuan or yen bond markets, he said.

HUNGARY STATE DEBT REACHES 74.3 PC OF GDP AT THE END OF Q3

Hungary’s state debt, calculated according to Maastricht rules, stood at 74.3 percent of GDP at the end of September, down from 75 percent of GDP at the end of June, data released by the National Bank of Hungary showed. In nominal terms, state debt reached 25,883bn forints in Q3.