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HungaryTrends – Business news from the previous week
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See below MTI’s main business and financial news from the previous week:
FRIENDS OF FIDESZ AMONG THE WINNERS OF THE STATE LAND AUCTIONS
József Ángyán, former state secretary for agriculture in the second Orbán-government made his report on land auctions public. This time, he examined the auctions in Pest county. Earlier he did so in the case of Fejér, Győr-Moson-Sopron, Somogy, Jász-Nagykun-Szolnok and Borsod-Abaúj-Zemplén counties. Read more HERE.
NO STOPPING! HUNGARIAN REAL ESTATE MARKET ON THE RISE!
The Hungarian housing market is living its heydays. This phenomenon appears in multiple forms: high sums of investments, continuously increasing real estate prices and growing demands. Forbes.hu published Duna House Barométer’s analysis from February, which reveals these tendencies. The effects of the changing rates can be already clearly seen. Read more HERE.
NEW OWNER TO INVEST IN SZENTGOTTHÁRD CAR PLANT
The future of the car manufacturing plant in Szentgotthárd, western Hungary, is secure after last year’s change of ownership, with new owner PSA to invest into resetting the plant to manufacture Peugeot motors from 2020. Read more HERE.
PPF GROUP TO BUY TELENOR HUNGARY
PPF Group agreed to by the assets of Norway’s Telenor in Hungary, Bulgaria, Montenegro and Serbia for 2.8 billion euros. The deal is expected to be closed in June 2018, pending regulatory approval. Read more HERE.
HUNGARY WAGE GROWTH NEARLY 14 PC IN JAN
The average gross monthly wage in Hungary rose by an annual 13.8 percent to 310,800 forints (EUR 993.6) in January, the Central Statistical Office (KSH) said. Net wages climbed at the same pace to reach 206,700 forints. Calculating with annualised CPI of 2.1 percent in January, real wages rose by 11.5 percent.
MOL, JSR INAUGURATE SYNTHETIC RUBBER PLANT
Hungarian oil and gas company MOL and Japan Synthetic Rubber Corporation (JSR) inaugurated a synthetic rubber plant in Tiszaujvaros, eastern Hungary. The plant will turn out 60,000 tonnes of synthetic rubber a year, enough to make 50 million tyres. Read more HERE.
OTP BOARD PROPOSES HUF 219-PER-SHARE DIVIDEND
The board of OTP Bank will propose payment of a 219 forint-per-share dividend on last year’s earnings at an annual general meeting scheduled for April 13, the AGM agenda showed. The dividend fund comes to 61.3 billion forints.