See below main business and financial news from the previous week:
If everything goes according to the plans, the connection of metro line M2 and the suburban railways can start soon that will result in a rather futuristic and cool design. Check out how it will actually look like! Read more HERE.
According to a global survey of economies around the world carried out by the American Heritage Foundation, Hungary’s economy is moderately free. Read more HERE.
Ministers responsible for European Union development funding from the Visegrad Group countries of Hungary, the Czech Republic, Poland and Slovakia met with their counterparts from Bulgaria, Croatia, Romania and Slovenia in Budapest together with European Commissioner for Budget and Human Resources Gunther Oettinger.
The National Bank of Hungary’s Monetary Council decided to keep the central bank’s key rate on hold at 0.90 percent at a monthly policy meeting. The Council has left the base rate on hold since signalling an end to an easing cycle at a policy meeting in the spring of 2016.
Hungary’s Competition Office said it approved the takeover of sole direct control of fund manager Konzum Alapkezelő, and thus sole indirect control of holding company Opus, by the investor Lorinc Meszaros.
Hungarian mobile payment company Cellum Global signed a strategic cooperation and investment agreement with Metranet, a unit of Indonesia’s Telkom. Under the agreement, Telkom will acquire a 30.4 percent stake in Cellum in two steps and ensure the company’s expansion on the Indonesian market.
Wizz Air, the largest low-cost airline in Central and Eastern Europe, celebrates the significant milestone of its one millionth Debrecen passenger. The lucky customer arrived from Moscow with the newest WIZZ flight and was greeted upon arrival with a value voucher. Read more HERE.
Hungarian low-fare carrier Wizz Air had revenue of 422.9 million euros in the third quarter of its business year ending March 31, up 24.0 percent year-on-year, an earnings report shows. Revenue from ticket sales increased by 26.1 percent to 241.7 million euros and non-ticket revenue was up 21.3 percent at 181.1 million euros.
Telenor Magyarorszag’s fourth-quarter revenue rose by an annual 7.2 percent to 40.2 billion forints (1UR 130m), an earnings report released by parent company Telenor shows. Turnover was lifted by higher average revenue per user among retail post-paid subscribers and migration from pre-paid to post-paid contracts.
Hungary’s rolling average three-month jobless rate reached 3.8 percent in October-December, the Central Statistical Office (KSH) said. The rate was level with that a month earlier but fell from 4.4 percent a year earlier. The rate covers unemployment among Hungarians between the ages of 15 and 74. Read more HERE.
German-owned automotive industry supplier Continental is setting up a 5.5 billion forint (EUR 17.8m) software development centre in Budapest that will employ 100 engineers, Minister of Foreign Affairs and Trade Peter Szijjarto announced. Hungary’s government is supporting the investment with a 1.4 billion forint grant.
Average new home prices rose by 7.8 percent in the first three quarters of 2017 while the price of resale homes increased by 7.5 percent, according to a summary of data published by the KSH. Read more HERE.
The central government has allocated about 327 billion forints (EUR 1.06bn) in development funding for Miskolc (NE Hungary) in the framework of the Modern Cities programme, said Lajos Kósa, the minister without portfolio in charge of developments in Hungary’s biggest cities.
Source: MTI/Daily News Hungary