Category Archives: English news
Extra-EU exports to Ukraine above pre-war levels
EU trade with Ukraine has been strongly affected since the start of Russia’s invasion, with an initial strong disruption recorded between February and March 2022, when the share of Ukraine with respect to extra-EU flows dropped for both imports and exports (-40% and -56%, respectively). However, in December 2022, the share of Ukraine in extra-EU exports was above the pre-war level (1.5% in December compared with 1.2% in February 2022) while imports remained slightly below (1.0% compared with 1.1%).
NBH augurs slowdown in pace of inflation after September
The National Bank of Hungary (NBH) expects CPI to continue to rise for the rest of the year, albeit at a slower pace after September, a central bank director said on Thursday.
Forint falls to new lows on interbank forex market
The forint traded at 418.23 to the euro around 10:00 in the morning on Thursday, recovering after slipping as far as 419.36 a new low.
Hungary aids rail exports of Ukrainian grain
A coordinated effort by Hungary to aid exports, by rail, of Ukrainian grain are starting to pay off, state secretary for transport David Vitezy said.
NBH keeps one-week deposit rate at 6.15pc
The National Bank of Hungary (NBH) left the rate for its one-week deposit facility unchanged at 6.15pc ahead of a tender on Thursday.
Watchdog withdraws Sberbank Magyarorszag licence, orders lender wound up
The National Bank of Hungary (NBH) on Tuesday said it withdrew the lending licence of Russian-owned Sberbank Magyarorszag because of its „serious liquidity and capital situation” amid international sanctions against Russia and ordered the credit institution to be wound up.
Hungary issues EUR 575m of samurai bonds
Finance Minister Mihaly Varga announced the issue of EUR 575m of samurai bonds in a post on Facebook early Friday. Hungary issued three-, five-, seven- and ten-year bonds, Mr Varga said, adding that green bonds accounted for „the biggest part” of the issue. „Investor confidence in the Hungarian economy is unbroken,” he said.
Orban voices support for common European defence force
Prime Minister Viktor Orban said Hungary backs the development of a common European defence force at an annual state-of-the-nation address on Saturday.
Matolcsy backs ban on crypto trading, mining in EU
National Bank of Hungary (NBH) governor Gyorgy Matolcsy took a stand for banning cryptocurrency trading and mining in the European Union in a piece posted on the central bank’s website.
Food safety: EU and US resume trade of bivalve molluscs
As from the end of this month, trade of molluscan shellfish – such as mussels, clams, oysters and scallops – will resume between the EU and the US. Two EU Member States (Spain and the Netherlands) will be allowed to export molluscan shellfish to the US, whilst two American states (Massachusetts and Washington) can do the same to the EU. The Commission has adopted the legislation to that effect.
Motorpharma signs USD 100m drug development contract with Aditum Bio
Motorpharma, a Hungarian startup that owns a licence to use and develop a compound that could be used to treat patients suffering from spastic limbs after stroke and other neurological injuries, has signed a drug development contract with US biotech investment firm Aditum Bio „worth about USD 100m”, Motorpharma told.
Forint slips past 370 to euro, a new low
The forint traded at 370.01 to the euro on the interbank forex market around 5:30 in the evening on Monday, recovering a fraction after weakening as far as 370.28 late in the day, a new historical low.
Hungary farm sector output climbs 4.6pc in 2020
Output of Hungary’s agriculture sector rose 4.6pc to HUF 2,950bn, at current prices, data compiled by the Central Statistics Office (KSH) show.
Hungary issues USD 4.25bn of dollar bonds
Hungary issued USD 4.25bn of dollar bonds in a transaction that was four times oversubscribed, under favourable conditions, at a low interest rate and long, 10- and 30-year maturities, Finance Minister Mihaly Varga said in a video posted on Facebook on Wednesday.
Nitrogénművek Zrt’s Announcement about successful restart
Farming ministers confirm CAP reform deal
EU farming ministers have accepted the provisional deal struck with the European Parliament last Friday on the key elements of the common agricultural policy (CAP) reform, thus bringing the proposal a step closer to becoming part of EU law.
