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Krisztina Than

Hungary extends loan moratorium as economy struggles to recover from pandemic

19 Sep 2020

BUDAPEST Hungary will extend a moratorium on loan repayments for some households and companies until the middle of 2021, as its finance minister warned the economy could struggle to grow next year unless a coronavirus vaccine is found.

UPDATE 2-Hungary's 2021 economic rebound hinges on COVID vaccine - finance minister

19 Sep 2020

BUDAPEST, Sept 19 Hungary's economy will struggle to grow next year if a coronavirus vaccine is not found, finance minister Mihaly Varga said in an interview published Saturday, as the government prepares to announce more steps to try to revive growth.

Students blockade top arts university as Hungary's government tightens control

02 Sep 2020

BUDAPEST Students at Hungary's University of Theatre and Film Arts have sealed entrances to the building to stop the new board of trustees getting in, and pledged to maintain the blockade until demands for autonomy from government control were met.

CEE MARKETS-Stocks rise, leu unfazed as Romanian govt awaits no-confidence vote

31 Aug 2020

By Krisztina Than BUDAPEST, Aug 31 Central European currencies were mixed, while stocks opened higher on Monday tracking Asian and European shares which rose on Chinese data that fuelled hopes for economic recovery despite rising coronavirus infections in the world. In Central Europe, the Romanian leu was little moved and trading at 4.8390 per euro ahead of a vote of no confidence against the government of Ludovic Orban due later on Monday. The vote adds to years of political instability that have kept the leu under pressure at a time when the Romanian economy is reeling under the negative impacts from the coronavirus pandemic. Even before the pandemic, Romania was struggling with a widening budget shortfall. The forint was flat, trading around 354 to the euro, holding onto its gains from Friday and outperforming the Czech crown and the Polish zloty which both weakened around 0.3% on Monday. The Hungarian forint weakened for two weeks and touched two-month lows mid last week, with weaker-than-expected Hungarian GDP data and loose monetary policy weighing on the currency. "The forint started a positive correction (on Friday)...and the exchange rate could firm back towards 350 in the coming days, while against the dollar, there is an important support at 295 on the chart," brokerage Equilor said in a note. On Tuesday, PMI data will be published across the region which could provide fresh clues about the state of the economic recovery. Hungary and the Czech Republic will also publish a breakdown of second-quarter GDP data. Poland's statistics office said on Monday that the country's gross domestic product fell to 8.2% y/y in the second quarter, in line with its first estimate of -8.2%. nS8N2E70CZ Stocks in the region were higher, with Budapest leading gains, rising 1%. In Prague, shares of Pegas Nonwovens rose 1.8%, making them the leading gainer after the artificial textile maker reported a first-half core profit EBITDA and confirmed its full-year outlook. CEE SNAPSHOT AT MARKETS 1004 CET CURRENCIE S Latest Previous Daily Change bid close change in 2020 Czech 26.2050 26.1210 -0.32% -2.95% crown Hungary 354.0000 353.8600 -0.04% -6.46% forint Polish 4.3959 4.3819 -0.32% -3.17% zloty Romanian 4.8390 4.8395 +0.01% -1.05% leu Croatian 7.5250 7.5285 +0.05% -1.06% kuna Serbian 117.5000 117.6000 +0.09% +0.06% dinar Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2020 Prague 906.98 908.0900 -0.12% -18.70% Budapest 35192.00 34842.51 +1.00% -23.63% Warsaw 1835.74 1829.79 +0.33% -14.62% Bucharest 8871.74 8850.68 +0.24% -11.08% Ljubljana 840.11 841.49 -0.16% -9.26% Zagreb 1610.91 1606.72 +0.26% -20.15% Belgrade <.BELEX15 693.68 693.68 +0.00% -13.47% > Sofia 432.78 432.51 +0.06% -23.83% Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=RR 0.1530 -0.0430 +081bps -4bps > 5-year <CZ5YT=RR 0.6770 -0.0680 +131bps -8bps > 10-year <CZ10YT=R 1.0990 -0.0230 +150bps -4bps R> Poland 2-year <PL2YT=RR 0.1210 -0.0300 +078bps -3bps > 5-year <PL5YT=RR 0.7900 -0.0060 +143bps -2bps > 10-year <PL10YT=R 1.4360 -0.0040 +183bps -2bps R> FORWARD 3x6 6x9 9x12 3M interban k Czech Rep < 0.37 0.39 0.45 0.34 PRIBOR=> Hungary < 0.82 0.91 0.99 0.62 BUBOR=> Poland < 0.25 0.25 0.26 0.23 WIBOR=> Note: FRA are for ask prices quotes *************************************************** *********** (Additional reporting by Jason Hovet in Prague; Editing by Shailesh Kuber)

Hungary to close borders to foreigners next week to curb coronavirus infections

28 Aug 2020

BUDAPEST Hungary will close its borders to foreigners from Sept. 1 to curb a rise in coronavirus infections and Hungarians returning from abroad will have to go into quarantine, Prime Minister Viktor Orban's cabinet chief said on Friday.

Hungary PM's cabinet chief, justice minister quarantined over coronavirus

27 Aug 2020

BUDAPEST Hungarian Prime Minister Viktor Orban's cabinet chief has been quarantined until he tests negative for the coronavirus, after attending a private event last Saturday where a participant tested positive, Orban's office said.

Hungary cabinet chief, justice minister quarantined over coronavirus

27 Aug 2020

BUDAPEST Hungarian Prime Minister Viktor Orban's cabinet chief has been quarantined until he tests negative for the coronavirus, after attending a private event last Saturday where a participant tested positive, Orban's office said.

U.S. concerned over neo-Nazi groups after Hungarian rainbow flags torn down

17 Aug 2020

BUDAPEST The U.S. Embassy in Budapest warned on Monday that neo-Nazi groups should not be tolerated after two rainbow flags were torn down from municipals buildings in the latest anti-LGBT incidents in Hungary. | Video

Flavours of ice cream maker, 87, makes Hungarians nostalgic

31 Jul 2020

BALATONBOGLAR, Hungary Families are once again queuing up at Laszlo Szeker's small, old-time ice cream parlour by Hungary's Lake Balaton, where the summer holidays are in full swing.

Auto industry set to put brakes on central Europe's COVID-19 recovery

30 Jul 2020

BUDAPEST/PRAGUE The auto industry, long a driver of economic growth in central Europe, is likely to be one of the main drags on the region's efforts this year to recover from the impact of COVID-19.

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