VOL. 31. NUMBER 11 | JUNE 2 – JUNE 15, 2023
HUF 2,100 | EUR 5 | USD 6 | GBP 4
HUNGARY’S PRACTICAL BUSINESS BI-WEEKLY SINCE 1992 | WWW.BUDAPESTBUSINESSJOURNAL.COM
SPECIAL REPORT INSIDE THIS ISSUE
Legal Services
ESG, Sanctions Keeping Budapest Law Firms Busy Following a long-standing tradition, we asked a number of leading law firms to give us their take on the legal market in Hungary, addressing the critical themes affecting their work and their clients. 9
U.K. has Left the EU, but English Law Still has a Significant Role Anikó Kircsi, partner and head of corporate/M&A at CMS Budapest, and Eszter Török, senior counsel, discuss how large local businesses still come across English legal issues pursuing investments in the CEE region. 15
Keep Agile, Focused and Sustainable
SOCIALITE
Budapest Space Aims to be Art and Business Hub Supported by the newly merged Hungarian MBH Bank and its Foundation for Arts, Hungarian Art & Business (HAB), which opens on June 8, aims to promote the contemporary art scene in this country. 28
NEWS
MNB Finally Announces Muchawaited Move
The National Bank of Hungary started to reduce the one-day deposit tender interest rate at its latest rate-setters’ meeting. The base rate, however, will remain at its current 13% level for a more extended period. 3
BUSINESS
Andreas Szakácsi, of Claas Hungária, was one of three shortlisted nominees for the 2023 Expat CEO of the Year award. He discusses that honor, the gala event, and company plans for this year. 6 BUSINESS
Economic Climate Restrains CEE Investment Activity Q1 2023 saw CEE investment volumes decline by around 57% year-on-year. That is still marginally better than European results, where the decrease was 62%. Given current conditions, market activity for the remainder of the year could reach EUR 5.6 billion. 7