HungaryTrends – The week in business and finance

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

HUNGARIAN BAKER MAKES THE FINEST BREAD IN GREAT BRITAIN 

István Nádházi’s (Moby) bakery won two categories at the World Bread Award. Read more HERE.

HOW DID BUDAPEST BECOME THE CAPITAL OF DENTAL TOURISM? 

Do you know someone who was in Budapest for dental care and returned to home proudly with a brand new smile? Every year thousands of dental tourism patients fly to Hungary from English-speaking countries, such as Canada, the UK, Ireland or the USA. They visit the beautiful city of Budapest, capital of Hungary, and get their teeth fixed while doing so. Recently, a new trend has been developing, as tourists from France, Switzerland, Germany in addition to Austria are now visiting Hungary since local dental treatment fees are very high in these countries. Read more HERE. 

TOURIST BUSES TO BE BANNED FROM ONE OF THE MOST BEAUTIFUL PLACES IN BUDAPEST 

The aim of the investment is to free Gellért Hill from the emission of the intense bus transport – replied the Centre for Budapest Transport (BKK) to the question of 444 when they asked whether there will be a prohibition of tourist buses on Gellért Hill because of the funicular planned to be built there, reports 444. Read more HERE.

PARLIAMENT VOTES TO PHASE OUT SUBSIDIES ON HOME SAVINGS BANK DEPOSITS

Parliament voted to phase out the state subsidy on deposits with home savings bank in an expedited procedure after the government argued that the scheme was no longer functioning efficiently, while lauding the success of the Home Purchase Subsidy Scheme for Families with Children, known by its Hungarian acronym “CSOK”. Banks urged the government to replace the subsidies, and the government said the support would be ploughed back into the CSOK programme. Read more HERE.

CONSTRUCTION SECTOR OUTPUT CLIMBS 24.4 PC IN AUGUST

Output of Hungary’s construction sector climbed by an annual 24.4 percent in August, data released by the Central Statistical Office showed. Output of the buildings segment was up 10.1 percent, lifted by construction of factories, stores and homes. Civil engineering output increased by 46.8 percent, supported by road, railway and utilities projects. Read more HERE.