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The Budapest city government is filing a compensation lawsuit to recover 28 billion forints (EUR 70m) "collected unlawfully" as solidarity contribution, plus interest, after the Supreme Court ruled in favour of the capital on Thursday in the case concerning the year 2023, Gergely Karacsony, the mayor of Budapest, told a press conference.
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The National Bank of Hungary (NBH) has issued an executive circular instructing banks to inform retail clients on cheaper account packages by the end of January, in line with an agreement signed with the Hungarian Banking Association.
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The forint exchange rate has been hovering around its strongest level in a year and a half this week, trading near 385.4 against the euro on Wednesday, Portfolio reports.
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The Budapest Stock Exchange’s leading index, the BUX, closed October at 107,319.9 points, rising by 8.5% from the end of September and reaching a new all-time high.
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The Hungarian Banking Association voiced its "firm opposition" to draft legislation that would raise the amount of cash retail clients may withdraw free of charge from ATMs in a statement on Friday.
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"There will be a 14th month pension," Prime Minister Viktor Orban announced late on Thursday.
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