The best Hungarian business news from the previous week

See below MTI’s main business and financial news from the previous week:

WIZZ AIR LAUNCHES NEW FLIGHTS TO NORWAY AND SWITZERLAND

From next spring on, there will be two weekly flights to Stavanger, Norway, and five to Basel, Switzerland, according to Wizz Air’s announcement made at a press conference on Thursday. Read more HERE.

WABERER’S SHARE SUBSCRIPTION RUNNING UNTIL JUNE 29

Hungarian road haulage company Waberer’s will offer its shares for subscription in an initial public offering from June 19 until June 29.

SIEMENS LAYS CORNERSTONE OF EUR 32.3m TURBINE BLADE PLANT

German engineering giant Siemens laid the cornerstone of a 10 billion forint (EUR 32.3m) turbine blade plant it is building at the manufacturing base of Siemens Power and Gas in Budapest. Read more HERE.

NBH POLICY MAKERS SET HUF 300BN LIMIT ON THREE-MONTH DEPO FOR END-Q3

The National Bank of Hungary’s Monetary Council set a 300 billion forint limit on the stock of three-month deposits, the central bank’s main sterilisation instrument, for the end of the third quarter at a policy meeting. Three months earlier the Council set the limit for the three-month depo stock at 500 billion forints for the end of Q2.

HUNGARY, CROATIA SIGN DECLARATION OF INTENT ON REVERSE GAS FLOWS

Hungary and Croatia signed a declaration of intent to enable reverse gas flows between the two countries.

HUNGARY GROSS WAGES CLIMB 14.6PC IN APRIL

The average gross monthly wage in Hungary rose 14.6 percent year-on-year to 303,011 forints in April, the Central Statistical Office (KSH) said.

EGLO MAGYARORSZÁG INAUGURATES HUF 4BN INVESTMENT IN N HUNGARY

Austrian-owned EGLO Magyarorszag inaugurated a 14,000sqm production hall and a 5,600sqm automated warehouse completed through investment of 4 billion forints in Pásztó (N Hungary). The investment was supported with a 650 million forints government grant. The company makes lighting systems and fixtures.

FHB MORTGAGE BANK SHAREHOLDERS HAVE UNTIL JULY TO DECIDE ON TAKAREKBANK OFFER

The shareholders of FHB Mortgage Bank will have the option to decide on accepting or rejecting the public purchase offer made by Takarékbank between June 26 and July 31.

NBH EXPECTS TO REACH INFLATION TARGET IN EARLY 2019

The National Bank of Hungary (NBH) expects inflation to reach the 3 percent level consistent with price stability in a sustainable manner from early 2019, half a year later than projected in March, the NBH said in its quarterly Inflation Report.

DIEHL INVESTS HUF 3.7BN IN CAPACITY EXPANSION

Germany’s Diehl Aerosystems is investing 3.7 billion forints in increasing the production capacity of Diehl Aircabin Hungary based in Nyírbator (NE Hungary). The Hungarian government is supporting the project with a 1.38 billion forints grant.

BKV TO SUSPEND REFURBISHING OF METRO 3 TRAINS UNTIL CONTRACTOR REMEDIES TECHNICAL PROBLEMS

Budapest transport company BKV said it will stop sending old metro trains for refurbishment until Russia’s Metrovagonmas, the manufacturer of trains running on the third metro line, radically improves the technical condition of the vehicles. BKV is also demanding a more than 800 million forints penalty over the delays and technical problems.

Photo: MTI

Source: MTI