See below MTI’s main business and financial news from the previous week:
INDUSTRIAL OUTPUT DROPS BY 4.7 PC IN JULY
Hungary’s industrial output fell by an annual 4.7 percent in July, the Central Statistical Office (KSH) said in a first reading of data.
Q2 GDP GROWTH RATE CONFIRMED AT 2.6 PC
Hungary’s GDP rose by 2.6 percent annually in Q2, KSH confirmed in a second reading of data. Growth accelerated from a first-quarter rate of 1.1 percent, which KSH revised upward by two-tenths of a percentage point on the back of better farm sector output.
CONSUMER PRICES EDGE DOWN 0.1 PC IN AUG
Consumer prices in Hungary fell by an annual 0.1 percent in August, dropping for the fourth month in a row, KSH said. related article: CONSUMER PRICES EDGE DOWN 0.1 PC IN AUGUST
K AND H FIRST-HALF PROFIT CLIMBS 45 PC
K and H Bank’s consolidated first-half after-tax profit rose by 45 percent annually to 23 billion forints (EUR 64.8m) on higher client numbers, bigger contract values and the sale of the lender’s stake in Visa Europe, CEO Hendrik Scheerlinck said.
DANA TO INVEST HUF 15 BN IN GYŐR
US-based automotive industry supplier Dana said it will build a 46 million euro gear plant in Győr (NW Hungary) early in 2017. The plant, which will employ 200 people by 2020, was awarded a 2.9 billion forint (EUR 9.4m) state grant. Read more HERE.
OTP CEO SEES CHANCE FOR ACQUISITIONS IN NEAR FUTURE
OTP Bank is examining opportunities to expand inorganically everywhere and could make several acquisitions in the near future, chairman-CEO Sándor Csányi told MTI.
GOVT BROADENS SCOPE OF HOME PURCHASE SUBSIDIES FOR FAMILIES
Officials announced that Hungary’s government has decided to broaden the scope of those eligible for home purchase subsidies for families. The subsidies will now be available for homes that are still in the planning stages as well as for blocks of flats that are still under construction.
RÉVÉSZ-NYÍRLOG STARTS BUILDING HUF 7.8 BN WAREHOUSE
Road haulage company Revesz-Nyirlog laid the cornerstone of a 7.8 billion forint (EUR 25.3m) warehouse in Nyíregyháza. The 52,000sqm facility will be completed next May.
MOST HUNGARIANS SUPPORT OLYMPIC BID
About 58 percent of Hungarians would like to see Budapest host the 2024 Olympic Games, a poll by Ipsos showed. Budapest is competing against Rome, Paris and Los Angeles to host the 2024 Olympics.
NBH FOUNDATIONS BUY PLOTS ALONG OFFICE CORRIDOR FOR EUR 55M
The National Bank of Hungary’s Pallas Athéné Foundations have acquired three plots on Váci út, an office corridor in the north of the capital, for 55.2 million euros, the head of Optima Befektetési, which manages the foundations’ assets, said. Read more HERE.