BUDAPEST Hungarian car dealer Realszisztema has shelved plans to build a $1.7 million service facility and warehouse. Auto supplier AGC Glass Hungary, too, is turning away from expansion ambitions as it faces a future of fewer workers and sliding sales.
* Economy to shrink by 5.5% in 2020, 4.7% bounce seen in
* Strong investments key in hoped-for economic rebound
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BUDAPEST, June 26 Hungary's central bank may cut
its base rate by another 15 basis points in July, but that is as
far as it will go, Deputy Governor Barnabas Virag said on
Friday, adding that market pricing of further aggressive rate
easing was exaggerated.
BUDAPEST, June 23 The National Bank of Hungary
unexpectedly cut its base rate by 15 basis points to
0.75% on Tuesday, its first such move in four years, responding
to greater-than-expected damage to the economy from the
BUDAPEST Hungary plans to decide "very quickly" on a proposed three-bank merger to create the country's second biggest lender, a government minister said, signalling strong political will to push ahead with the project before elections in spring 2022.
BUDAPEST The National Bank of Hungary is expected to leave interest rates unchanged on Tuesday, according to a poll of analysts, but could set the stage for some easing of policy lowering its outlook for economic growth.
* Analysts forecast economy will shrink 4.6% in 2020
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ERD, Hungary Zoltan Wetter worked in restaurants for over two decades before the coronavirus pandemic cost him his job. With no savings, the 38-year-old chef from the town of Erd in Hungary took the first opportunity he could find: behind the wheel of a garbage truck.