Hungarian transmission system operator MAVIR, acting on orders from the government, will call on several dozen large industrial energy consumers to make voluntary cuts in their electricity usage, Prime Minister Péter Magyar announced in a social media post on Thursday. He said MAVIR will contact cement factories, car and battery manufacturers, chemical plants and other […]

Austria's Erste Group booked first-half net income of EUR 104m at its banking business in Hungary, down 24% from the base period as sectoral taxes — booked for the full year — weighed, an earnings report released on Thursday shows. Net interest income climbed 19% to EUR 243 million and net revenue from commissions and […]

Loaded sea container traffic in Hungary rose 10% year-on-year to 123,258 TEU in the second quarter, the Association of Hungarian Logistics Service Centers (MLSZKSZ) said. Over the past year, imports rose by 12.3% and exports by 7.2%, with imports accounting for more than 70% of total trade. The volume of incoming goods continued to be […]

Listed building materials maker Masterplast had first-half after-tax profit of EUR 5.2 million, improving from a loss of EUR 4.6 million in the base period, an earnings report released ahead of the opening bell on Thursday shows. Despite the challenging environment, Masterplast Plc. posted one of the strongest first-half performances in its history this year. […]

Hungary had a EUR 1.305 billion trade surplus in June, widening from EUR 799 million in the previous month, data released by the Central Statistical Office (KSH) on Thursday show. Exports rose 20.9% year-on-year to EUR 14.945 billion. Imports climbed 17.8% to EUR 13.639 billion. Trade with other European Union member states accounted for 73% […]

The number 3 block of the Paks nuclear power plant has been shut down as water levels on the Danube – used to cool the NPP – have reached record lows, Economy and Energy Minister István Kapitány said in a social post on Wednesday. The minister noted that the shutdown was not an unexpected event, […]

The Hungarian Competition Authority (GVH) has cleared the acquisition of Sofidel's private-label paper products business in Hungary by Vajda-Papír, Hungary's biggest maker of hygienic paper products, Vajda-Papír said on Wednesday. The watchdog established that the merger would not reduce competition on the affected markets to a significant degree. The transaction is expected to close when […]

The number of guests at commercial and private tourism accommodations in Hungary fell 2.2% to 1,856,000 in June from the same month a year earlier. At the same time, the number of guest nights was down 2.5% at 4,328,000, data released by the Central Statistical Office (KSH) on Wednesday show. The number of domestic guests […]

BMW has produced the 50,000th iX3 model at its plant in Debrecen (E Hungary), the German car maker has said. The production milestone was reached nine months after the start of series production, amid strong demand for the first series-production model of the Neue Klasse. "The 50,000th BMW iX3 underscores the capabilities of our plant […]

Hungarian oil and gas company MOL announced on Tuesday the expansion of its Plugee network of EV charging stations with European Union support. Mol Plugee, the Mol Group’s electric mobility service provider, is establishing and developing ultra-fast charging infrastructure at nine Mol charging stations in Hungary; the company has secured 396 million forints in funding […]

The government has made preparations if any steps are needed to ensure Hungary's secure energy supply, Economy and Energy Minister István Kapitány said in a social media post on Tuesday. The minister acknowledged a cut in the output of the Paks nuclear power plant due to record low water levels on the Danube, which the […]

Hungarian parliament approved the bill on Tuesday to establish the National Office for Asset Recovery and Protection (NVVH). The bill was passed with 143 votes in favor and 47 votes against. The explanatory memorandum to the legislation states that its purpose is to establish a legal framework that ensures the NVVH can effectively carry out […]

Hungarians are becoming increasingly cautious about taking out loans: nearly two-thirds of them did not take advantage of this option in the past year, and those who were forced to do so – as in recent years – turned first to family members for financial assistance, followed by banks, and then friends and colleagues. That […]

A 100-year-old Ford Model T has arrived at the Hungarian National Museum, where it was carefully lifted by crane and wheeled into the building under strict conservation measures. The historic vehicle will feature in the museum's upcoming exhibition, 'The American Dream', opening to the public on Thursday, the museum noted. The Ford Model T, a […]

The largest battery energy storage system in the Central European region, with a total installed capacity of 99.8 megawatts (MW) and a storage capacity of 288.5 megawatt-hours (MWh), has been handed over in Buj, Szabolcs-Szatmár-Bereg County, NE Hungary, Forest-Vill Plc. announced on Monday. According to the announcement, Forest-Vill carried out the design and construction work […]

Lawmakers in Hungarian parliament on Monday elected Dr. Pál Sonnevend a Constitutional Court judge, with 138 votes in favor and 6 votes against. The new judge was elected in a secret ballot for a nine-year term. The election was necessitated by the ending of Csaba Hende's mandate as a judge following the 17th amendment to […]