POLL-Hungary central bank to keep rates unchanged next week

By Gergely Szakacs

BUDAPEST, Oct 14 (Reuters)The National Bank of Hungary (NBH) is likely to leave its base rate and overnight deposit rate unchanged on Tuesday after weaker-than-expected September consumer prices data eased some concerns about inflation, a Reuters poll of economists showed.

All 22 analysts in the Oct. 12-14 survey said the NBH would leave its base rate on hold at 0.6% HUINT=ECI. The 10 economists who gave a forecast for the overnight deposit rate said it would also remain steady at -0.05% HUODPO=ECI.

Just two days after keeping rates on hold at its September policy meeting, the bank raised the interest rate on its one-week deposit facility by 15 basis points to 0.75% NBHK on Sept. 24 to arrest a slide in the forint EURHUF=.

Central Europe’s worst-performing unit firmed below the 360 per euro mark last week after data showed Hungarian

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Hooker Furniture’s HMI Division to Open Central Distribution Center in Georgia

HIGH POINT, N.C., Oct. 14, 2020 (GLOBE NEWSWIRE) — Home Meridian International (HMI), a division of Hooker Furniture Corporation based here, will consolidate its East Coast warehousing operations in a new 800,000-square-foot distribution facility in Liberty County, Georgia strategically located near the Port of Savannah. The state-of-the-art distribution center is expected to be fully operational by Fall of 2021, the company said. The division also maintains a West Coast distribution facility in Redlands, CA which is expected to be unaffected by the East Coast consolidation.

HMI maintains locations around the world, with brands under its portfolio including Pulaski Furniture, Samuel Lawrence Furniture, Samuel Lawrence Hospitality, Prime Resources International, Accentrics Home, and HMIdea. The Liberty County facility is strategically located to reach nearly all of the U.S. population within 36 hours, reducing transportation costs, and increasing operating efficiencies. The location’s proximity to the Port of Savannah played a major role in

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Austin Central Library Saves $100,000 Annually with Apparent’s Intelligent Grid Operating System Optimizing 180KW Solar Array

AUSTIN, Texas, Oct. 14, 2020 /PRNewswire/ — To help meet the City of Austin’s goal to achieve 100 percent carbon-free electricity generation by 2035, Austin Central Library (ACL) is utilizing energy management technology from Apparent, Inc to gain 30 percent higher utilization out of one of downtown’s largest solar arrays. Apparent was the only energy management company capable of meeting Austin Energy’s strict grid synchronization requirements, with a hardware and software solution that results in more than $100,000 in annual savings, enough to power 130 households per year. Apparent’s cloud-based, intelligent grid operating system (igOS™) is managing the 180 kW solar array at the library, consisting of 555 325-watt solar panels and Apparent’s proprietary microinverters. The system produced 157.35 MWh in 2019.

“Our team at Austin Central Library strives to incorporate sustainable measures within our buildings,” said Sharon Herfurth, Office of Programs & Partnerships and Division Manager

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Central bank says no license needed for foreign lending in Uganda

By Elias Biryabarema

KAMPALA, Oct 14 (Reuters)Uganda’s central bank said on Wednesday foreign-based banks do not need its license to lend funds originating abroad, reassuring an industry jolted by a court ruling last week that declared some syndicated loans involving foreign banks illegal.

The loans affected by the Commercial Court ruling represent at least $1.5 billion worth of debt, according to an industry body.

The Bank of Uganda said it did not regulate lending that involved “using funds obtained from foreign banks that do not take deposits from the public in Uganda.”

“Foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities,” it said in a statement. “It is not mandatory for a foreign bank to establish a representative office in Uganda in order to conduct lending.”

The central bank’s position does not override the court’s ruling but it

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South Korea’s central bank keeps rates steady as growth outlook sours

People cross a road in front of the Bank of Korea in Seoul on Aug. 27, 2020.

Jung Yeon-je | AFP | Getty Images

South Korea’s central bank kept its policy rate steady on Wednesday as it sought to keep a lid on red-hot property prices, even as it expects the economy to see the worst contraction in over two decades in
2020 due to the coronavirus pandemic.

The Bank of Korea kept the base rate steady at a historic low of 0.5%, as expected by all 34 economists in a Reuters poll. The central bank has cut rates by 75 basis points so far this year and ramped up bond-buying purchases to help the economy withstand the coronavirus fallout.

The decision to hold fire comes as Seoul’s median home prices have risen more than 50% in the past three years, despite slumping economic activity in 2020.

Asia’s fourth-largest economy

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Bulgaria central bank revises up its GDP forecast to 5.5% decrease

SOFIA, Oct 13 (Reuters) – Bulgaria’s central bank said on Tuesday the impact of the coronavirus on the Bulgarian economy this year would be less harsh than initially expected and revised its GDP forecast to a contraction of 5.5% from a previously expected decline of 8.5%.

The bank said the slower contraction this year and expected more moderate demand for Bulgarian exports over the next two years will slow the rate of the economic recovery. It cut its forecast of GDP growth in 2021 to 4% from a previous forecast of 5.1%.

The central bank sees the Balkan country returning to its 2019 growth level by the middle of 2022.

“Compared to our previous forecast based on data up to June 22, the real GDP is expected to mark a lower decline in 2020 and economic activity to register weaker growth in 2021–2022,” it said in a statement.

The central

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MTA Proposes New Percentage-Based Rent Agreement for Grand Central Restaurants

With subway and train ridership still seeing major declines from the same time last year, transportation hubs like Grand Central Terminal remain virtually empty, significantly impacting the businesses within them. More than six months into the pandemic, the Metropolitan Transportation Authority is now proposing a new rent agreement for its Grand Central tenants, in the hopes that businesses will be able to stay afloat.



a group of people standing in front of Grand Central Terminal: The MTA has proposed a new rent agreement for its tenants at Grand Central


© Shutterstock
The MTA has proposed a new rent agreement for its tenants at Grand Central

Under this new proposal, the agency will take a percentage of rent from the restaurants and other small businesses in GCT that will be based on gross revenue, according to Janno Lieber, the MTA’s chief development officer and the man overseeing the plan. Lieber declined to say what that percentage will be, but said the agency is in talks with the businesses to settle on a figure.

The new rent

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Why Lifetime Gifting Should Be Central To Your Estate Plan

By Anna Davies

Right now, the lifetime exemption for gifts and estates is the highest it has ever been—$11.4 million for individuals or a $22.8 million joint exemption for married people. But this number isn’t permanent and could change. That’s why financial advisors are saying it’s a smart idea to put vehicles in place, like trusts, to enable seamless lifetime gifting. 

“Some people are waiting to do things based on how things land, politically, but that could leave them scrambling if things were to change,” said Rebecca Duguid, a senior vice president and client advisor at Whittier Trust. “The earlier you get the process started, the better.” 

Having vehicles in place now can give you the maximum flexibility in terms of gifting to kids and grandkids — and can also help your children and grandkids learn how to be wise stewards of your wealth. That’s because, while “trust fund

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Subterranean Grand Central Oyster Bar Closes Doors After 12 Days Of Indoor Dining

Grand Central Oyster Bar, the iconic restaurant inside of Grand Central Terminal, is giving up on indoor dining less than two weeks after reopening. The restaurant, which first opened in 1913, cited a “lack of traffic and business caused by the COVID-19 pandemic” in a Facebook post on Saturday.

The gorgeous subterranean space has no windows or outdoor space, meaning it was unable to offer outdoor dining at all during the pandemic. Restaurants across New York City were allowed to reopen for indoor dining, at 25% capacity, on September 30th, and Grand Central Oyster Bar was among those that reopened.

The restaurant excitedly wrote on Facebook five days ahead of reopening, “We are a New York landmark with Guastavino tiled vaulted ceilings located on the lower level of the magnificent Grand Central Terminal. We are eager to serve you again! The oyster bar, lounge, bar, and counter seating will remain

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Grand Central Oyster Bar Temporarily Closes Less Than Two Weeks After Opening



a group of people standing in front of a building


© Nick Solares/Eater


Grand Central Oyster Bar temporarily closes again, citing downturn in business

Less than two weeks after opening its doors for indoor dining service, Grand Central Oyster Bar will temporarily close once more. In a post to Facebook over the weekend, the iconic 107-year-old restaurant announced that it had no choice but to close again, citing a “lack of traffic and business implicitly caused by the COVID-19 pandemic.”

Grand Central Oyster Bar reopened on September 30 for takeout and indoor dining service following nearly a seven-month temporary closure. Despite initial excitement about the comeback, the restaurant hasn’t been able to justify the cost of reopening, given lower foot traffic at Grand Central Terminal from tourists and commuters, according to a spokesperson for the restaurant.

Restaurants and bars across the city have been devastated by the pandemic, and rent in particular has been a sticking point. In August, close

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