HungaryTrends – The week in business and finance

See below the main business and financial news from the previous week:

HUNGARIAN STUDENTS’ STARTUP IDEA TO HELP PEOPLE WITH FOOD ALLERGIES 

Yet another great startup idea has been developed, this time by Hungarian students. USchool, an educational program with a modern outlook, has launched a program to introduce students aged 16-18 to the world of business and project planning, to the basics of sales and marketing as well as to group dynamics. Read more HERE. 

BUDAPEST REAL ESTATE MARKET CONTINUES SKYROCKETING 

As we already reported, real estate prices have been growing in the Hungarian capital for years. According to Duna House, a Hungarian real estate agency, everybody should calculate with more than 1 M HUF (EUR 3,150) per square meter by 2020 in the downtown. Furthermore, the increasing demand can raise the prices even higher. This is because investing in real estate in Budapest becomes more and more attractive. Read more HERE. 

SELF-DRIVING CARS IN FOCUS AT HUNGARIAN-ISRAELI MIXED COMMITTEE MEETING 

Self-driving cars took centre stage at last week’s two-day meeting of the Hungarian-Israeli mixed economic committee, the minister for innovation and technology said at the meeting’s opening ceremony in Zalaegerszeg, in western Hungary, on Monday. Read more HERE. 

GOVERNMENT SUBMITS 2019 BUDGET BILL TO PARLIAMENT

Finance Minister Mihály Varga submitted the 2019 budget bill to Parliament. The bill shows total revenue of 19,580.1 billion forints (EUR 60.5bn) and total expenditures of 20,578.5 billion forints. Revenue is 4 percent over that in the 2018 budget. Expenditures are 2 percent higher. The deficit is targeted at 998.4 billion forints, 27 percent lower than the gap targeted for 2018. Read more HERE. 

CJEU ADVOCATE GENERAL SAYS MOBILE PAYMENT SYSTEM INFRINGES EU RULES

An advocate general of the Court of Justice of the European Union (CJEU) said in an opinion that the establishment of a national mobile payment system and the exclusive rights granted to state-owned Nemzeti Mobilfizetési violates the European Union’s Service Directive. Advocate General Yves Bot said in his opinion that Hungary had created a national monopoly in the mobile payment services market.