
Misleading advertising penalised
The competition authority GVH imposed a fine of over 35 million forints (a good 86,000 euros) on food ordering portal Foodora
The food ordering portal had violated consumer protection regulations with misleading advertising in autumn 2023. Foodora promised a discount of 2,000 forints and free delivery without transparently communicating that these discounts only applied to orders of 6,000 forints or more.
In addition to the competition fine, the competition authority imposed a procedural penalty of HUF 20 million as the company delayed the GVH's proceedings. The authority also criticised Foodora for not properly informing consumers about the system usage fee in mid-June 2024. The authority imposed a total fine of 35.2 million forints on the basis of all infringements. GVH emphasised that companies must comply with their reporting obligations accurately and in a timely manner. Discount promises and their conditions must be communicated transparently at the same time as advertising.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Budapest Times
16 hours ago
- Budapest Times
Ministry for National Economy updates expected 2025 cash-flow based budget deficit
The Ministry for National Economy has changed the expected 2025 cash-flow based budget deficit to HUF 4,774 billion. In line with that announcement the Government Debt Management Agency Pte Ltd. (ÁKK) has modified its financing plan for 2025. ÁKK plans to cover the resulting HUF 651 billion increase of funding needs for 2025 with FX bond issuance. The amended plan contemplates FX bond issuance in the amount of EUR 3 billion which exceeds the additional financing need which will facilitate the accumulation of intra-year liquid reserves and enhance the flexibility of debt management. Timing, currency, and maturity of any issuance will be determined by ÁKK based on market conditions. FX bond issuance will also allow ÁKK to reduce slightly the net issuance target for the institutional HUF market by HUF 344 billion. The planned net increase of retail government securities and institutional securities owned by households remains unchanged. Benchmark targets also remain unchanged.


Budapest Times
2 days ago
- Budapest Times
KSH: Fuel prices in Hungary are below average
The National Economy Ministry has announced that prices at the pump in Hungary were under the average amongst neighboring countries in May. Data compiled from the EU weekly Oil Bulletin by the Central Statistics Office (KSH) show that the price of petrol in Hungary averaged HUF 584/litre during the month of May, HUF 5 under the average in neighboring countries. The average price of diesel was also HUF 584, HUF 4 under the average in neighbouring countries. Hungary's government earlier said it would intervene if motor fuel prices exceeded the average in neighboring countries.


Budapest Times
2 days ago
- Budapest Times
Fitch Ratings affirms Hungary's sovereign rating with a stable outlook
Fitch Ratings has affirmed Hungary's sovereign rating with a stable outlook. The National Economy Ministry said all three big rating agencies have put Hungary in the investment grade category. The ministry faulted decision-makers in Brussels for adopting a failed economic policy, supporting the war instead of peace, and giving all available funding to Ukraine, while the European economy faces growing challenges. The government is working to shield Hungarians from the negative external environment and strengthen the economy, allocating resources to support families and SMEs, it added. In spite of pressure from Brussels, the government is implementing Europe's biggest family-friendly tax cut programme, while taking firm steps against unjustified price increases, the ministry said. At the same time, the government continues to preserve fiscal stability and exercise strict fiscal discipline, maintaining its commitment to reduce state debt and the budget deficit, it said. In May and June, budget revenue was boosted by a HUF 110bn dividend paid by Liszt Ferenc International operator Budapest Airport and a HUF 200bn dividend by state-owned energy group MVM, it added. Hungary's economy stands on firm foundations, confirmed by the latest data showing employment at close to 4.7 million and a record low number of job-seekers, the ministry said. Real wages have climbed for over a year and a half, and the tourism sector is set to have a record year in 2025, it added. Confidence in Hungary is reflected in bond issues on international markets, most recently a EUR 1 billion security issued by the Hungarian Development Bank (MFB) that drew outstanding interest, the ministry said. The ministry highlighted stimulus programmes such as the Demjan Sandor Programme for scaling up SMEs that will pump over HUF 1,400bn into the economy.