Section: Budapest Business Journal (Hungary)
Russian sanctions said to have a cooling effect on Hungary’s economy
Sanctions in Russia, the conflict in Ukraine together with the euro zone’s sluggish economic growth, have had a chilling effect on Hungary, according to economic news TV station CNBC. …read more Source: Budapest Business...
Merkel to pay a visit to Hungarian Prime Minister
German Chancellor Angela Merkel, is planning on paying a visit to the Hungarian Prime Minister in February, according to German newspaper Die Welt. Orbán has made it clear that he opposes EU sanctions against Russia and given that the extension of sanctions requires a unanimous vote… …read more Source: Budapest Business...
Hungary cools Ukrainian hopes for gas supply
Hungary’s National Development Minister played down Ukraine’s hopes for a fast renewal of gas supplies, saying this country would not be able to provide so-called reverse natural gas flows to Ukraine before filling up its own storage tanks. …read more Source: Budapest Business...
OTP Q3 profit triples on base effect of Ukraine write-off
Third-quarter after-tax profit of OTP Bank, Hungary’s biggest commercial lender, more than tripled to HUF 34.1 bln from the same period a year earlier, an earnings report published Friday reveals. Earnings rose on the base effect of a HUF 30.8 bln goodwill write-off at the bank’s business in Ukraine in Q3 2013. …read more...
