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Business and finance news from Hungary: 39th week in 2017
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See below main business and financial news from the previous week:
BUDAPEST AMONG THE FASTEST DEVELOPING TOURIST DESTINATIONS
Mastercard published the top travel destinations this year as well. Bangkok, London, and Paris are the top three, and, while Budapest is not among the top 10 in terms of the number of tourists, it placed quite well on another list.
Budapest is the fifth destination among the fastest developing European cities,
ahead of Moscow and Berlin.
THE PARIS COURT TO BE TURNED INTO A HYATT HOTEL
The Paris Court (Párisi udvar) will be turned into a 110 room Hyatt luxury hotel as the Párizs Property Ltd. signed a contract with Hyatt Hotels. The hotel found in the onetime Brudern House is expected to be opened in 2018, and it will be operated by Mellow Mood Hotels.
BUDAPEST ASSEMBLY RULES TO SELL BÁLNA SHOPPING CENTRE
The Budapest Assembly at its regular Wednesday session voted to announce an open tender to sell the Bálna Shopping and Cultural Centre.
HUNGARIAN BUSINESS LEADERS MEET COUNTERPARTS IN SINGAPORE
Hungarian business leaders met with their local counterparts at a business forum in Singapore. Prime Minister Viktor Orbán praised Singapore for adapting quickly to new technology and using it for its economic advantage. In this respect, Singapore is an example to follow for Europe, including Hungary, he added.
ÁKK TO REPLACE DOLLAR BONDS WITH EUROBOND
Hungary’s Government Debt Management Agency (ÁKK) said it plans to issue a low-interest, long-term eurobond to refinance high-interest dollar bonds that are maturing soon. Switching the dollar bond with the eurobond will result in “significant interest savings”, ÁKK said.
MOODY’S MAINTAINS POSITIVE OUTLOOK ON HUNGARY’S BANKING SYSTEM
Moody’s Investors Service kept its outlook on Hungary’s banking system at positive due to its expectation that the country’s improving economy will bolster banks’ loan quality and support moderate profitability, while capital buffers remain stable. The credit rating agency lifted the outlook to positive from stable in June last year.