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HATC SAMPLE EDITION:
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27th March, 2025
Szijjarto promotes MOL operations in Russia
Hungarian energy company MOL is thriving in Russia, creating opportunities to expand its role there, Foreign Affairs and Trade Minister Peter Szijjarto said in a brief Facebook post from Moscow on Wednesday.
Szijjarto said he agreed to “maintain energy co-operation” in talks with deputy prime minister Alexander Novak.
Photographs from the meeting showed MOL CEO Zsolt Hernadi and Gyorgy Bacsa, the group’s strategic operations chief, in attendance.
Szijjarto stressed that any attack on energy infrastructure supplying Hungary was unacceptable as he welcomed the mutual pledge by Ukraine and Russia – described by him as “the US-Russian agreement” – to cease such strikes, calling it a move in Hungary’s national interest.
Szijjarto said discussions also covered expanding economic co-operation in sectors not subject to EU sanctions, particularly pharmaceuticals and agriculture. (portfolio.hu; hvg.hu; magyarnemzet.hu; index.hu; 444.hu)
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27th March, 2025
OTP plans bid for HSBC Malta unit
OTP bank is one of several potential bidders preparing to acquire HSBC’s Maltese subsidiary, according to the Times of Malta.
The acquisition would mark OTP’s first expansion outside the former Eastern Bloc.
Having pursued an international expansion strategy for many years, OTP currently operates subsidiaries in ten countries.
Last year, it was the market leader in five: Hungary, Bulgaria, Croatia, Slovenia, and Montenegro.
The bank also has a presence in Moldova, Ukraine, Russia, Albania, and Serbia. (timesofmalta.com; g7.hu; portfolio.hu)
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27th March, 2025
4iG Jaszai meets Boeing leaders
CEO Gellert Jaszai of 4iG, recently named Hungary’s ambassador for the development of international business relations, held talks with Boeing in Washington yesterday, according to his LinkedIn post.
“We are continuing to strengthen our ties with the US, emphasising cutting-edge technologies such as the space and defence sectors, and beyond”, he said.
Jaszai presented Hungary’s potential in space research and the space industry to the House subcommittee on aeronautics.
He said he had also addressed defence and security matters with the national security advisors to House Speaker Mike Johnson and Texas Senator Ted Cruz’s team.
Jaszai presented 4iG’s space plans to Elon Musk at Donald Trump’s Mar-a-Lago estate in Florida in December and talked with Elon Musk’s company, SpaceX, in February. (portfolio.hu; hvg.hu)
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27th March, 2025
Govt may control more food prices
Economy Minister Marton Nagy has suggested that additional food products could be subject to price margin caps if prices for as-yet unregulated items start to rise.
Speaking in a Facebook video on Wednesday, Nagy said prices for around 1,000 products subject to the margin cap have fallen by an average of 17.7%, with 874 items becoming cheaper.
Some of the steepest declines include priced reductions of 31% for lard, 27% for sour cream, 25% for margarine 22% for strudel flour and 20.6% for fine flour.
The minister expects these measures to push inflation down to 5% in March and below 4% in April. (portfolio.hu; origo.hu; telex.hu; mfor.hu; index.hu; 24.hu)
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27th March, 2025
Varga appoints Toth to run BSE
The MNB has appointed Tibor Toth as the next CEO of the Budapest Stock Exchange (BSE), effective May 1, it was announced yesterday.
New MNB governor Mihaly Varga thanked outgoing CEO Richard Vegh for his nine years at the helm of the exchange and said they will continue to count on his knowledge and experience in the future.
Toth held senior roles at Citibank and KDB bank before serving as a state secretary in the finance ministry.
Varga aims to develop a more liquid and transparent capital market to help fund Hungarian businesses.
He also plans to strengthen the BSE’s regional role and contribute to the integration of EU capital markets. (portfolio.hu; telex.hu; magyarnemzet.hu; index.hu; forbes.hu)
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