Hungarian retail sales rebound in April, driven by non-food categories

Hungary’s retail sales data positively surprised in April with a calendar-adjusted increase of 5% y/y, the strongest growth in over a year and above consensus. Unadjusted data showed a 6.8% (chart) increase.

Hungarian industry shows signs of life in April, but recovery still fragile

Hungary’s MVM joins $2.9bn Shah Deniz gas project in Azerbaijan

Hungarian state-owned energy group MVM has secured a 5% stake in the next phase of Azerbaijan’s flagship Shah Deniz gas field, joining a $2.9bn development led by BP.

Hungary breached EU law by restricting LGBTQ content, CJEU adviser says

Hungary’s controversial "child protection" law violates EU rules by restricting access to LGBTQ content, according to Tamara Capeta, Advocate General of the European Court of Justice.

Wizz Air shares nosedive after release of 2024 earnings report, lack of guidance

Wizz Air shares plummeted in early trading on June 5, after the low-cost carrier posted a sharp drop in earnings and declined to provide financial guidance for the coming quarters.

Global energy investment to reach a record $3.3 trillion in 2025, but problems with grids remain – IEA

Global energy investment is projected to reach a record $3.3 trillion in 2025, despite continued economic uncertainty and heightened geopolitical risks, according to the International Energy Agency.

Hungary’s flagship battery sector racks up $112mn losses amid demand slump

Hungary’s battery manufacturing sector, heralded as a pillar of the manufacturing sector, has posted combined annual losses of nearly $112mn, as weakening global demand and shifting trade dynamics hit the industry hard.

Budapest opposition mayor: government aims to "push the city to the brink of abyss"

Budapest’s transport and finance committees have convened an emergency session to assess the fallout from the government’s recent measures, which local leaders say have pushed the capital to the verge of financial collapse.

Orban vows to “do everything” to keep Ukraine out of the EU

Hungarian Prime Minister Viktor Orban has vowed to “do everything” in his power to prevent Ukraine from joining the European Union, he said in a social media post on June 3, escalating tensions over the bloc’s enlargement policy.

Hungary's MOL signs onshore exploration agreement with Azerbaijan's SOCAR

MOL has signed key terms for an exploration, development and production sharing agreement with Azerbaijan’s state oil company SOCAR for the Shamakhi-Gobustan region of the country.

COMMENT: All three leaders in Poland, Slovakia and Hungary under pressure

All three of the leaders in Poland, Slovakia and Hungary are under pressure and looking at ways to shore up their hold on power.

Analysts forecast meagre growth for Hungary after disappointing Q1 GDP data

Hungary’s economy has struggled to regain momentum since mid-2022, alternating between marginal gains and contractions.

40% of Europe already in a drought before summer gets fully underway

As Europe slides into its third disaster season, 40% of the EU is already officially facing a drought before the hottest months of the year arrive. And this year’s droughts are likely to become even worse than previous heatwaves.

Hungarian banks report record year in 2024 with €5bn consolidated profit

Hungary’s banking sector delivered a record-breaking year in 2024, with consolidated net profits reaching a record HUF2 trillion (€5bn).

Hungarian central bank books €2bn loss in 2024

The Hungarian National Bank incurred a HUF789bn (€1.95bn) loss last year, according to the annual report of the central bank. While still substantial, this represents a sharp improvement from the record deficit of HUF1.76 trillion in 2023.

Moody's affirms Hungary's rating but flags risks of fiscal slippage and loss of EU funds

Moody's has reaffirmed Hungary's sovereign credit rating at Baa2 with a negative outlook in its latest scheduled review on 30 May, keeping the country just one notch above the lowest investment-grade category.

MOL to take majority stake in Hungary's leading engineering university

Hungary's MOL is set to take majority ownership in the state-owned company running Budapest University of Technology and Economics, Hungary's most prestigious engineering institution, for HUF50bn (€120mn).

COVID is back - a new "NB.1.8.1" strain is spreading across continents

The coronavirus (COVID-19) is back. Reports from health authorities around the world have detected a new highly contagious strain of the virus that has been spreading through Asia and has now reached Russia.

Hungary top European destination for Chinese FDI for second year in a row

Hungary was the top European destination for Chinese foreign direct investment for the second consecutive year in 2024, according to a report by the Hungarian Investment Promotion Agency.

Slump in vehicle sector hits Mercedes’ operation in Hungary

Mercedes-Benz Manufacturing Hungary reported a 40% drop in profit as production fell 20% at its Hungarian base, mirroring the slump in the automotive sector.