HungaryTrends – The week in business and finance
See below the main business and financial news from the previous week:
HOW TO CONVINCE EXPAT HUNGARIANS TO RETURN TO HUNGARY?
Based on the official data, around 80 thousand Hungarians are working abroad, but based on Portfolio’s data, almost 300 thousand. Pénzcentrum did a quick survey, with the aim of finding some reasons that could make these Hungarians return to their home country. Read more HERE.
CHAMPAGNE AND SPARKLING WINE WORLD CHAMPIONSHIPS: HUNGARIANS REACH GREAT RESULTS!
Hungarian sparkling wines won over the Champagne and Sparkling Wine World Championships, with our wines enlisted at Muscats du Monde 2018, according to Szeretlekmagyarország.hu. Read more HERE.
EVER-GROWING HUNGARIAN REAL ESTATE PRICES DO NOT SEEM TO DECREASE
Portfolio.hu examined whether real estate prices in Budapest can be subject to either positive or negative change in the near future. Here is what they found out! Read more HERE.
EC CONFIRMS 4 PC HUNGARY GDP GROWTH FORECAST IN 2018
The European Commission confirmed its earlier projection for Hungary’s GDP growth this year of 4 percent in its Summer Interim Forecast. The EC put 2019 GDP growth at 3.2 percent, also confirming its previous, spring forecast published in May. The Commission raised its growth forecast for both years in May. Read more HERE.
BOSCH TO EXPAND BUDAPEST DEVELOPMENT CENTRE FOR EUR 11.4M
German engineering giant Bosch laid the cornerstone for a 37 billion forint (EUR 11.4m) expansion of its Budapest development centre. The investment, scheduled to be completed in 2021, will add 90,000sqms to the area of the facility. Read more HERE.
FINANCE MINISTER HOLDS TALKS AT TESLA HEADQUARTERS
The Hungarian government wants to encourage further investments in the country by US companies, Finance Minister Mihály Varga said after holding talks as head of a business delegation at Tesla’s headquarters in Fremont, California. Read more HERE.
IKARUS EGYEDI DECLARED STRATEGICALLY IMPORTANT ENTERPRISE
Hungarian bus manufacturer Ikarus Egyedi has been declared a strategically important enterprise at the request of the company as a part of a bankruptcy filing, the ministry for innovation and technology (ITM) said. Ikarus Egyedi has filed for bankruptcy protection in order to manage the company’s payment difficulties. Read more HERE.
RICHTER ACQUIRES BEMFOLA RIGHTS FOR US MARKET
Drugmaker Richter announced it has concluded a sale and purchase agreement with Fertility Biotech AG, a Swiss corporation, about the transfer of intellectual property rights, relevant studies, related data and documents of Bemfola for the use in the United States for 5 million Swiss francs.
MOL SIGNED EUR 555M REVOLVING CREDIT FACILITY AGREEMENT
Oil and gas company MOL said on the Budapest Stock Exchange that it had entered into an 555 million euro revolving credit facility agreement with 15 bank groups on July 9, 2018.
Featured image: MTI