The heads of the foreign affairs and European affairs committees of Visegrád Group (V4) parliaments signed a joint agreement expressing their positions on the European Union's next seven-year framework budget, security policy, EU enlargement plans, and opportunities for expanding cooperation, the chair of Hungarian parliament's European affairs committee, Ildikó Sopov said on Tuesday, MTI reports. […]

Last year, some 6.6 million tons of biomass was used for energy production in Hungary, 10.7% more than the year before, the Institute of Agricultural Economics (AKI) said in a report on Tuesday. In 2025, Hungarian power plants, heating plants and industrial boiler operators using biomass feedstock primarily relied on wood chips — hat is, […]

N7 Defence Holding, Arzenál Fegyvergyár ['Weapons Factory'] and Colt CZ Hungary signed a binding term sheet with firearms manufacturer Colt CZ Group International on Monday, parent company 4iG said on Tuesday, MTI reports. The term sheet sets out the framework for the recapitalization of Colt CZ Hungary, the restructuring of its ownership structure and the […]

Factory gate prices, or industrial producers prices, in Hungary edged down 0.7% year-on-year in May, data released by the Central Statistics Office (KSH) on Tuesday, and reviewed by MTI, show. Prices for domestic sale were up 1.9% while export prices decreased 1.8%. Domestic prices of the manufacturing sector, which have a 67.6% weight in the […]

Zoltán Gazsi, the founder of the 'Day of Selflessness' initiative and former managing director of Eisberg Hungary, has passed away after a long illness borne with dignity. He appeared frequently in the pages of Diplomacy&Trade over the past 12 years. Zoltán Gazsi was 60 years old. Zoltán Gazsi graduated from the University of Agricultural Sciences […]

Looking at the year as a whole, tourist arrivals are generally on the rise; however, tourism performance in the coming months will depend largely on global trends and the exchange rate of the forint, Visit Hungary announced on Monday. In their analysis sent to MTI, they highlighted that in May, tourist traffic rose by 2.6% […]

State-owned energy company MVM inaugurated a HUF 10.4 billion, 57MWh battery energy storage unit at a gas-turbine power plant in Ajka (W Hungary) on Monday, MTI reports. The investment was supported by HUF 3.8 billion in grant money from the European Union. MVM CEO Karoly Matrai said heatwaves like the present one point to the […]

So far this summer, the load on the Hungarian power grid peaked on Friday, June 26, breaking last summer’s electricity consumption record, but the all-time summer record set in 2024 has not yet been broken, Mavir Hungarian Electricity Transmission System Operator Ltd. said on Monday in response to an inquiry from MTI. According to Mavir’s […]

Hungary's current account had a EUR 251 million surplus in the first quarter of the year, compared to a EUR 353 million surplus in Q4 2025, and a EUR 1.177 billion surplus in Q1 2025, quarterly data released by the National Bank of Hungary (MNB), and reviewed by MTI, on Monday show. The trade surplus […]

Hungarian pharmaceutical company Richter Gedeon has announced mass layoffs of more than 30 people over a 30-day period, the company announced in a statement on Monday. Richter is quoted by MTI to have said that the planned reductions will affect pharmaceutical manufacturing, particularly active ingredient manufacturing. Maintaining the competitiveness of active ingredient manufacturing is a […]

Hungary has joined a tripartite agreement involving 22 EU member states, EU institutions, and industry players to accelerate the development of energy storage in Europe, István Kapitány, the country's economy and energy minister, has said on social media. "Energy storage is key to future energy supply, helping to integrate renewable energy more effectively, make grids […]

The number of guests at commercial and private tourism accommodations in Hungary climbed 2.6% to 1,753,000 in May from the same month a year earlier, while the number of guest nights edged down 0.5% to 3,865,000, data released by the Central Statistics Office (KSH) and reviewed by MTI show. The number of domestic guests rose […]

The Budapest Stock Exchange (BSE) stock index rose amid declining trading volume this week; on Friday, the BUX closed at 139,790.13 points, a historic high, up 1.57% or 2,164.59 points from the previous week. Weekly trading volume was HUF 137.5 billion, down from HUF 155.1 billion the previous week, with leading stocks posting mixed results. […]

Hungary’s biggest commercial lender OTP Bank and oil and gas company MOL took the 398th and the 1,239th place respectively on Forbes’ 2026 Global 2000 list that ranks the largest companies worldwide, MTI reports. OTP took the 993rd place based on revenue, the 360th place based on profit, the 313th place based on assets and […]

Braving soaring temperatures, thousands of revelers set off from outside the State Opera House on Saturday for the 31st Budapest Pride Community Festival march, a vibrant celebration winding through the heart of the capital. The event was also attended by the European Commissioner for Equality, Preparedness and Crisis Management, Hadja Lahbib. A float blaring music […]

Support for joining the euro zone is exceptionally high, at around 70-75%, in Hungary, Prime Minister Péter Magyar said following talks with Eurogroup president Kyriakos Perrakakis in Budapest on Friday. Among member states outside the euro zone, Hungary has the high level of support for joining, the Prime Minister added. "This has not always been […]