HungaryTrends – The week in business and finance
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See below MTI’s main business and financial news from the previous week:
HUNGARY Q1 GDP GROWTH STEADY AT 4.4 PC
Hungary’s first-quarter GDP climbed by an annual 4.4 percent, rising at the same rate as in the previous quarter, the Central Statistical Office (KSH) said in a first reading of data. Adjusted for seasonal and calendar year effects, GDP was up 4.7 percent. KSH said market-based services, especially trade and tourism, were the main contributors to growth during the period.
LABOUR SHORTAGE COULD LEAD TO LOST BUSINESS, JOBS IN HUNGARY
The labour shortage in the industrial sector could force multinationals to postpone capacity expansions or take some of their production elsewhere, a union leader warned. Read more HERE.
THOUSANDS OF NON-EU NATIONALS AWARDED WORK PERMITS LAST YEAR
Almost 25,000 non-EU nationals were awarded permits to work in Hungary last year, around 10,000 more than in 2016. Read more HERE.
NEW RECOMMENDATIONS ISSUED FOR RICHTER DRUG
The Pharmacovigilance Risk Assessment Committee (PRAC) of the European Medicines Agency (EMA) concluded after a review that Gedeon Richter’s uterine fibroid drug Esmya “may have contributed to the development of some cases of serious liver injury”.
DAIMLER TURNS OUT MORE THAN 190,000 VEHICLES IN HUNGARY IN 2017
German carmaker Daimler turned out more than 190,000 vehicles at its base in Hungary last year, up 4.1 percent from 2016,
Mercedes-Benz Manufacturing Hungary managing director Christian Wolff said. Revenue of the unit, in Kecskemét (C Hungary), climbed by over 4 percent to 3.6 billion euros.
AUDI STARTS SERIAL PRODUCTION OF THREE-CYLINDER ENGINES IN HUNGARY
German-owned carmaker Audi Hungaria announced the launch of serial production of three-cylinder engines at its base in Győr, western Hungary.
The one-litre petrol engines, with power of 63kW or 85kW, will go into Audi A3, Volkswagen Golf, Seat Leon and Seat Ateca models.
FUTUREAL LAUNCHES CONSTRUCTION OF EUR 300 M SHOPPING CENTRE IN CAPITAL
Hungarian property developer Futureal announced the launch of construction of a 300 million euro shopping centre near the southern terminus of Budapest’s number four metro line. Etele Plaza will have 54,000sqm of rentable space with room for 200 businesses. It is scheduled for completion in 2020. Read more HERE.