Car Industry ‘Facing Severe Challenges’
Like the economy of Europe as a whole, its car industry faces grave challenges in the coming period, the minister of foreign affairs and trade has said.
Economy
Bad News: One Euro Costs 404 HuF
This morning, the forint reached another negative peak against the euro: at 6 a.m. 400 forints had to be paid for 1 euro, but around 9:00, the national currency began to deteriorate rapidly, and around 11:00 the EU currency was worth more than 404 forints, writes HVG.
MOL Lowers Refuelling Limit for Retail Buyers
Hungarian oil and gas company MOL has set a 50-litre per-service refuelling limit for retail buyers at its domestic petrol stations from Friday, the company has said. The new limit is half the volume available so far, MOL told MTI.
Unilever Hungary to End Production at Southern Hungary Plant
The local of unit of FMCG giant Unilever will discontinue production at its plant in Röszke (S Hungary), laying off 80% of the 190 workers, Unilever said on Friday. The plant’s new owner, Mezőker will take over 20% of the workers. Hungarian-owned Mezőker has been Unilever’s supplier for almost 30 years.
Over 20,000 Signatures Collected to Save Bees and Farmers
Over 20,000 signatures have been collected in Hungary in support of the European Citizens Initiative entitled “Save Bees and Farmers: Towards a bee-friendly agriculture system for a healthier environment”, the National Election Committee (NVB) said on Thursday.
Jobless Rate Edges Down to 3.5% in May
Hungary’s jobless rate was 3.5% in May, down from 3.6% in the previous month and from 3.9% twelve months earlier, the Central Statistical Office (KSH) said. The rate covers 15-74 year olds. Fully 168,500 were jobless in May, down by 7,800 on the previous month and 20,900 fewer than in May 2021. The rolling three-month […]
EC Scrutinises MOL-OMV Slovenija Deal
The European Commission on Thursday said it opened an in-depth investigation to assess the planned acquisition of OMV Slovenija by Hungarian oil and gas company MOL.
Hungary, Bavaria Sign New Three-Year Cooperation Pact
Hungary and the German federal state of Bavaria have signed a new three-year cooperation scheme aimed at preserving their shared economic achievements in the current “challenging period”, Foreign Minister Péter Szijjártó said on Thursday.
Energy Office: gas storage is continuous in Hungary
The Hungarian natural gas market has been concentrating on storage since the beginning of April, the country’s gas supply is currently uninterrupted despite the war in Ukraine, and the Russian side continues to supply long-term contracts from Serbia (Kiskundorozsma) and Austria (Mosonmagyaróvár). the Hungarian Energy and Utilities Regulatory Authority (MEKH) on Thursday with MTI.
The government extends Széchenyi card credit scheme
The government has decided to extend the Széchenyi Card programme, a state scheme that provides cheap credit to businesses, and streamline and consolidate its credit products, Economic Development Minister Márton Nagy has said. The new Széchenyi Card loans, carrying a fixed rate of 3.5% or lower, will be available from July 2022 until the end […]