The week in business and finance in Hungary

A wrap-up of this week’s business and finance news: 

JAMIE’S PIZZERIA TO OPEN IN BUDAPEST

The first Jamie’s Pizzeria by Jamie Oliver will be opened in the Gozsdu Courtyard in November. The pizzeria will be opened by the Zsidai Group, the owner of the franchise rights of Jamie’s Italian Budapest.

GOVERNMENT’S FILM INDUSTRY COMMISSIONER ANDY VAJNA BOUGHT A MEDIA ENTERPRISE

Government commisioner in charge of the movie industry Andy Vajna and Radio Bridge Media Holdings Ltd., the owner of Lacombe, signed a contract, in the frameworks of which Lapcom and its media products, tabloid Bors and country daily papers Délmagyarország and Kisalföld, were bought by Avalue Investment Ltd., Vajna’s company.

THE IPHONE X IS GOING TO BE THE MOST EXPENSIVE IN HUNGARY

Apple’s presentation of the iPhone X, the iPhone 8 and 8 Plus aired on Tuesday evening in Hungary, where the new updates were revealed, including a neural processor and the face-detecting emoji. The Jubilee iPhone will be the most expensive in Hungary.

HUNENT LAYS CORNERSTONE FOR WATERFOWL PROCESSING PLANT

The cornerstone for a waterfowl processing plant Hunent Víziszárnyas Feldolgozó is building for 12.6 billion forints in Mélykut, in southern Hungary. The Hungarian government is providing a 4.4 billion forint grant for the investment.

BANK CARD PURCHASES IN HUNGARY CLIMB 25 PC IN Q2

The value of purchases made in Hungary with locally-issued bank cards grew by an annual 25 percent to 1,066 billion forints in the second quarter of 2017, the National Bank of Hungary (NBH) said in a quarterly report.

M+A VALUE IN HUNGARY CLIMBS 12 PC IN H1

The value of mergers and acquisitions (M+A) in Hungary came close to USD 980 million in the first half, up 12 percent from the same period a year earlier, data compiled by consultancy EY show. EY said 66 transactions were closed in the first half, up slightly from 64 in the base period.

CONSTRUCTION AT PAKS TO START WITH SUPPLEMENTARY AND SERVICE BUILDINGS

Construction work at the Paks Nuclear Power Plant could start at the beginning of next year with the supplementary buildings and supporting facilities indispensable for building the blocks, Attila Aszodi, state secretary in charge of maintaining the power plant’s capacity told an energy conference.

HUNGARIANS NEED EIGHT YEARS AVERAGE EARNINGS TO BUY A HOME

Hungarians need eight years of average earnings to buy a mid-sized home, more than in 2014, as home prices have risen double the rate of earnings, an analysis by property listings aggregator Otthontérkép shows.

HUNGARY ICT SECTOR REVENUE CLIMBS 13PC IN Q2

Revenue of Hungary’s information and communications technology sector rose by an annual 13 percent to 735 billion forints in the second quarter, a summary of data by the Central Statistics Office (KSH) shows.

ONE-THIRD OF GUEST WORKER QUOTA FILLED

Only about one-third of Hungary’s quota for guest workers has been filled, Economy Minister Mihály Varga said at an annual meeting of economists. Some 60,000 jobs remain unfilled in Hungary at present, he said.

MODERN CITIES PROGRAMME COVERS INVESTMENTS WORTH HUF 3,388.5 BN

Hungary’s central government has reached agreements with the country’s biggest cities on 260 investments worth 3,388.5 billion forints in the framework of the Modern Cities programme, János Lázár, the head of the Prime Minister’s Office, said in a letter to an opposition MP posted on the website of Parliament.

Source: MTI