HungaryTrends – A wrap-up of the last week’s business and finance news

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

44 OUT OF 100 HUNGARIANS DESCRIBE THEIR FINANCIAL SITUATION AS COMFORTABLE

Nearly half (46%) of Hungarians believe they are financially better off than they were five years ago, which runs rings around the European average (37%). Globally 58 out of 100 consumers are more optimistic about their financial situation than back in 2014. In Europe, Romanians are the most positive about the improvement of their financial situation (61%), while Italians are the most pessimistic: only 17% stated they feel financially better off, according to a recent Nielsen report that reveals consumers’ sentiment towards their financial situations covering 64 markets around the world. Read more HERE.

BUDAPEST – THE GO-TO CITY FOR ENTREPRENEURS 

The Hungarian capital city, Budapest, has been on the rise for some time now. Its significance is growing not only from a touristic point of view but also when it comes to business. More and more European entrepreneurs choose Budapest as the starting point of their journey, favouring the Hungarian capital over the likes of London and Berlin. Read more HERE.

CONTINENTAL OPENS ARTIFICIAL INTELLIGENCE DEVELOPMENT CENTRE IN BUDAPEST 

German-owned automotive industry supplier Continental AG opened its Deep Machine Learning Competence Center in Budapest on Thursday. Read more HERE.

FITCH UPGRADES HUNGARY TO ‘BBB’; OUTLOOK ‘STABLE’

Fitch Ratings raised Hungary’s Long-Term Foreign- and Local-Currency Issuer Default Ratings to ‘BBB’ from ‘BBB-‘ at a scheduled review. The outlook for the ratings, two notches over the investment grade threshold, is ‘stable’. Read more HERE.

DAIMLER LAUNCHES PRODUCTION OF NEW CLA COUPE IN HUNGARY

Daimler started production of the next-generation Mercedes-Benz CLA Coupe at its plant in Kecskemét, central Hungary. The German carmaker has already turned out more than 750,000 first-generation CLA and CLA Shooting Brake models at the plant, the only place in the world the car is made.

LUFTHANSA TECHNIK TO SET UP HUF 43BN SERVICE CENTRE IN HUNGARY

German aircraft maintenance, repair and overhaul company Lufthansa Technik announced it will set up a 43 billion forint service center in Miskolc, northeast Hungary. The centre will employ a staff of 400.

HUNGARY’S STATE DEBT RATIO FALLS TO 70.9 PC AT END-2018

Hungary’s state debt as a percentage of GDP reached 70.9 percent at the end of last year, down from 73.4 percent at the end of 2017, preliminary data released by the National Bank of Hungary (NBH) showed.

GRAPHISOFT PARK PROFIT CLOSE TO EUR 4.5 M IN 2018

After-tax profit of Graphisoft Park, a listed company that owns and operates a business park in the north of Budapest, rose by 12 percent to 4,452,000 euros in 2018, an earnings report showed. In line with REIT regulations, which require payment of 90 percent of profit to shareholders, the board will propose a dividend of 4 million euros or around 0.40 euro per share.

Featured image: MTI

Source: MTI