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Friday 24 Nov 2017
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Official: Govt Has No Plans To Squeeze Out Foreign Retail Chains
Commissioner for trade policy Kristóf Szatmáry dismissed the suggestion that the government plans to squeeze out foreign food retailers from the market. In an interview to daily Magyar Idők, he responded to a report suggesting that after the 2018 elections, the government wants to shrink the ownership slice of food retailers held by foreign multinationals, just as they have done in the media as well as the energy and banking sectors. more »
Rail Development Key Component Of Hungary’s Foreign Economic Strategy
Rail infrastructure plays an essential role in implementing Hungary’s foreign trade strategy, the foreign minister said at a rail conference on Tuesday. Hungary’s trade figures have surpassed records in every year since 2014, and this achievement must now be consolidated by further developing the country’s infrastructure, Péter Szijjártó told participants of the Hungarian Railway Association’s conference. more »
Wessling Knowledge Centre Inaugurated In Hungary
With the inauguration of the Wessling Knowledge Centre a hub has been created that will house a leading regional R&D base of an international engineering innovation network of 1000 researchers, Minister of State for Economic Development and Regulation István Lepsényi said at the opening ceremony. more »

Hungary PMI Rises To 59.3 In September


Hungary PMI Rises To 59.3 In September
Hungary’s seasonally-adjusted Purchasing Managers Index (PMI) stood at 59.3 points in September, rising from 56.8 in August, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, said on Monday. more »

BP Opens 2nd Hungarian Shared Services Center In Szeged


BP Opens 2nd Hungarian Shared Services Center In Szeged
British multinational oil and gas company BP, formerly known as British Petroleum, opened a shared services center with a staff of 170 in a repurposed clothing factory in Szeged, southern Hungary. more »

Lost VAT Receipts Due To Black Economy Shrink 7 Percent In 2 Years


Lost VAT Receipts Due To Black Economy Shrink 7 Percent In 2 Years
Citing a European Commission study, Hungary’s economy minister has said that tax evasion has dropped significantly in the country. The government’s measures to whiten the economy have been effective, and tax evasion in Hungary is now half the rate of other countries in the region, Mihály Varga told MTI.. more »



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