HungaryTrends – The week in business and finance

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

Hungary-Russia space projects, selection of Hungarian astronaut to start

Foreign Minister Péter Szijjártó on Friday signed agreements with the director of Russian state space research company Roscosmos about the launch of Hungary-Russia space research projects and the selection and training of a Hungarian astronaut to be sent to the International Space Station (ISS) in 2024-2025. Read more HERE.

HUNGARY TO LAUNCH 20-YEAR BENCHMARK BOND

The Government Debt Management Agency (AKK) announced plans for the launch of a 20-year benchmark bond in January. At present, the 15-year government bond is the benchmark with the longest maturity.

• Hungary has the 9th cheapest coffee of 76 countries!

PLANNED T-SYSTEMS HUNGARY ACQUISITION FALLS THROUGH

IT company 4iG initiated the termination of talks on its planned acquisition of peer T-Systems Hungary from Magyar Telekom. Chairman-CEO Gellert Jaszai said the decision to walk away from the deal was “a rational one taken solely on the basis of business considerations”.

SUEZ TO INVEST HUF 9.6 BN IN EXPANSION IN HUNGARY

Plans were announced for a 9.6 billion forint investment by French-owned Suez Water Technologies and Solutions Hungary that will boost capacity at its water filtration membrane plant in Oroszlány, northwest Hungary by 35 percent. The government is supporting the investment, which will create 85 jobs, with a 1.7 billion forint grant. Read more HERE.

AVL JV TO PROMOTE, MANAGE CONTRACTS FOR ZALAZONE

Innovation and Technology Minister László Palkovics said the state set up a joint venture with Austrian automotive consulting and research company AVL to manage the promotion, business development and contracts for the ZalaZone autonomous vehicle test track in Zalaegerszeg, southwest Hungary. Read more HERE.

EST MEDIA MAKES OFFER FOR SUPPLIER TO LAW ENFORCEMENT AGENCIES

Listed company EST MEDIA made an indicative offer to buy a 51 percent stake in Communications Technologies, which supplies technology to Hungarian law enforcement agencies. Communications Technologies targets revenue of 4.5 billion forints this year. EST MEDIA is now majority-owned by IT company Deltagroup.

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Source: mti