151 result(s) for currency in Business
Owner Of Hungary’s K&H Bank Prepares For Losses
- 9 Jul 2014 9:00 AM
- business
Belgian financial group KBC, owner of Hungary’s K&H Bank, announced on Tuesday that it is setting aside €162 million in provisions for likely losses due to the foreign-currency loan bill passed on Friday.
Foreign Currency Loans To Be Eliminated From The Hungarian Market By End Of 2014
- 8 Jul 2014 10:00 AM
- business
Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to forint loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday. Based on a Supreme Court ruling, deeming the rate spread applied to foreign currency loan constructions unfair, Parliament adopted on Friday a bailout package. According to ...
Hungary’s Finance Minister Varga: Bank Tax May Be Redesigned
- 8 Jul 2014 9:00 AM
- business
The government is mulling a rethink of Hungary’s sectoral tax on banks, Mihály Varga, the economy minister, told public broadcaster Kossuth Rádió. “I don’t exclude the possibility of revising or rethinking the banking tax, since banks are going to be assuming a heavy burden to compensate clients, but now is not the time for this.”
Hungary’s Banking Association Accepts “Unfair” Kúria Ruling
- 17 Jun 2014 9:00 AM
- business
Hungary’s Banking Association on Monday called “unfair” a decision by the Kúria concerning forex loan agreements, but said that it accepted the ruling. Levente Kovács, the association’s general secretary, insisted that including an exchange rate spread in foreign currency-denominated loan agreements was justified, and served to finance the “considerable cost of covering hard currency positions”.
Fitch Ratings Affirms Hungary At BB+, Outlook Stable
- 10 Jun 2014 9:00 AM
- business
Fitch Ratings on Friday affirmed Hungary’s long-term foreign currency rating at ‘BB+’ with stable outlook, and its local currency rating at ‘BBB ’. Fitch said Hungary’s gross general government debt, at 79.2% of GDP in 2013, was around twice the ‘BB’ and ‘BBB’ medians and remained “Hungary’s key rating weakness”.
Hungary’s Forint Strongest In Past Three Months
- 9 May 2014 9:00 AM
- business
The forint was trading at 303.22 to the euro late Thursday on the interbank forex market, up from 304.81 late Wednesday. Also at 304.81 to the euro early Wednesday, the forint moved between 303.14, a more than three-month high, and 304.90 during the day.
EC Report On Hungary’s Economy Confirms Govt Prognosis
- 6 May 2014 9:00 AM
- business
The EC’s spring forecast includes similar figures as the macro-economic prognosis in Hungary’s convergence plan, which shows that the Hungarian government’s projections were reliable and credible, the economy ministry said, commenting on today’s release of the commission’s report on the country’s economy. The EC’s economic growth projections of 2.3% this year and 2.1% next year are identical to ...
Citi’s Budapest Chief Executive: Eyes On The Bright Side
- 21 Mar 2014 8:00 AM
- business
Even as the finance industry is struggling to fend off the effects of adverse operating conditions in Hungary, Citi’s Budapest business boasts continuing growth. The Budapest Business Journal spoke with the recently appointed chief executive Aftab Ahmed about his impressions of the country’s economy and his expectations of the future.
Hungary’s Macro Imbalances Need Monitoring, Says Brussels
- 6 Mar 2014 8:00 AM
- business
The European Commission counts Hungary among member states that are experiencing macroeconomic imbalances, but not among those whose imbalances are considered excessive. “[…] Macroeconomic imbalances require monitoring and decisive policy action,” the commission said on Wednesday, releasing the results of in-depth reviews of the economies of 17 member states.
Owner Of Hungary’s K&H Bank Prepares For Losses
- 9 Jul 2014 9:00 AM
- business
Belgian financial group KBC, owner of Hungary’s K&H Bank, announced on Tuesday that it is setting aside €162 million in provisions for likely losses due to the foreign-currency loan bill passed on Friday.
Foreign Currency Loans To Be Eliminated From The Hungarian Market By End Of 2014
- 8 Jul 2014 10:00 AM
- business
Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to forint loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday. Based on a Supreme Court ruling, deeming the rate spread applied to foreign currency loan constructions unfair, Parliament adopted on Friday a bailout package. According to ...
Hungary’s Finance Minister Varga: Bank Tax May Be Redesigned
- 8 Jul 2014 9:00 AM
- business
The government is mulling a rethink of Hungary’s sectoral tax on banks, Mihály Varga, the economy minister, told public broadcaster Kossuth Rádió. “I don’t exclude the possibility of revising or rethinking the banking tax, since banks are going to be assuming a heavy burden to compensate clients, but now is not the time for this.”
Hungary’s Banking Association Accepts “Unfair” Kúria Ruling
- 17 Jun 2014 9:00 AM
- business
Hungary’s Banking Association on Monday called “unfair” a decision by the Kúria concerning forex loan agreements, but said that it accepted the ruling. Levente Kovács, the association’s general secretary, insisted that including an exchange rate spread in foreign currency-denominated loan agreements was justified, and served to finance the “considerable cost of covering hard currency positions”.
Fitch Ratings Affirms Hungary At BB+, Outlook Stable
- 10 Jun 2014 9:00 AM
- business
Fitch Ratings on Friday affirmed Hungary’s long-term foreign currency rating at ‘BB+’ with stable outlook, and its local currency rating at ‘BBB ’. Fitch said Hungary’s gross general government debt, at 79.2% of GDP in 2013, was around twice the ‘BB’ and ‘BBB’ medians and remained “Hungary’s key rating weakness”.
Hungary’s Forint Strongest In Past Three Months
- 9 May 2014 9:00 AM
- business
The forint was trading at 303.22 to the euro late Thursday on the interbank forex market, up from 304.81 late Wednesday. Also at 304.81 to the euro early Wednesday, the forint moved between 303.14, a more than three-month high, and 304.90 during the day.
EC Report On Hungary’s Economy Confirms Govt Prognosis
- 6 May 2014 9:00 AM
- business
The EC’s spring forecast includes similar figures as the macro-economic prognosis in Hungary’s convergence plan, which shows that the Hungarian government’s projections were reliable and credible, the economy ministry said, commenting on today’s release of the commission’s report on the country’s economy. The EC’s economic growth projections of 2.3% this year and 2.1% next year are identical to ...
Citi’s Budapest Chief Executive: Eyes On The Bright Side
- 21 Mar 2014 8:00 AM
- business
Even as the finance industry is struggling to fend off the effects of adverse operating conditions in Hungary, Citi’s Budapest business boasts continuing growth. The Budapest Business Journal spoke with the recently appointed chief executive Aftab Ahmed about his impressions of the country’s economy and his expectations of the future.
Hungary’s Macro Imbalances Need Monitoring, Says Brussels
- 6 Mar 2014 8:00 AM
- business
The European Commission counts Hungary among member states that are experiencing macroeconomic imbalances, but not among those whose imbalances are considered excessive. “[…] Macroeconomic imbalances require monitoring and decisive policy action,” the commission said on Wednesday, releasing the results of in-depth reviews of the economies of 17 member states.