Hungary's cash flow-based general government deficit reached HUF 3,849.8 billion at the end of April, 70.7% of the full-year target, the Ministry of National Economy said in a preliminary release of data. As reported by MTI, the central budget deficit reached HUF 3,743.4 billion and the social security funds were HUF 150.3 billion in the […]

Hungary's annualised consumer price index rose to 2.1% in April from 1.8% in the previous month, data released by the Central Statistical Office (KSH) show. Food prices rose 1.5%, but fell 0.9% excluding the price of eating out. Pork prices fell 8.5% and potato prices dropped 11.4%, but fresh fruit prices rose 7.0%. Household energy […]

Heineken® is inviting soccer and table football fans to an extraordinary record attempt on May 16, two weeks before the UEFA Champions League final in Budapest. The goal is for as many people as possible to play together at the country’s largest, 7.2-meter-long foosball table and thereby become 'Foosball Champions', the brewing company says in […]

For nearly 60% of the population, managing finances is a major source of stress, while the overwhelming majority view money as the key to security and freedom. Fear of inflation continues to weigh most heavily on Hungarians, but concerns about unemployment have also risen significantly over the past year: one in five respondents perceives the […]

In a competition organized by the Hungarian organization Autós Nagykoalíció as well as automotive sites Zöldjárműipar.hu and Járműipar.hu, a jury of automotive journalists selected the BMW iX3 as the Hungarian-manufactured vehicle of the year. As in previous years, BMW was honored in the seventh season of the Hungarian Car of the Year competition: this year, […]

Mastercard announced this week that the first live, authenticated transaction initiated by an AI agent was successfully completed in collaboration with OTP Bank, demonstrating how AI-based commerce can be implemented in a secure and responsible manner. The transaction, built on Mastercard’s Agent Pay technology, illustrates how AI agents can process purchases on behalf of consumers […]

From an economic perspective, demographic trends are vital, as they determine the size of the workforce, tax revenues, pension expenditures and the future trajectory of healthcare spending. Declining population – and its possible impact on employment – is one of the longer-term challenges faced by the new Hungarian government, headed by Péter Magyar, coming to […]

Gauges of sentiment by the German-Hungarian Chamber of Industry and Commerce (DUIHK) show an improvement in business confidence after the April 12 election. Presenting the results of the surveys on Thursday, communications director Dirk Wolfer said the share of respondents who expected to see an improvement in the local economy rose from 7% before the […]

Retail sales in Hungary rose 10.6% year-on-year in March, data released by the Central Statistical Office (KSH) on Thursday show. Retail sales rose 8.2% when adjusted for calendar year effects. Adjusted food sales increased 2.6%, non-food sales climbed 8.4% and turnover at petrol stations rose 20.6%. Online and mail-order sales volume, which accounted for 8.8% […]

German carrier Lufthansa has entered a codeshare agreement for flights operated by Skyhub PAD and Danish Air Transport connecting Pécs, S Hungary, and the southern German city of Munich, the head of the Pécs-Pogány Airport, Márk Dragovácz said at a press conference in Pécs. This move by Lufthansa to be an official codeshare partner, thereby […]

A 47-megawatt battery energy storage facility is being built at a cost of 12.5 billion forints on the grounds of the Oroszlány Power Plant through a joint effort by four companies, the project manager Gábor Jeszenszky told MTI. The facility is capable of meeting the needs of MAVIR Plc., which balances the Hungarian electricity system, […]

The American Hungarian Foundation (AHF) has recognized Nobel laureate Katalin Karikó with the George Washington Award, the University of Szeged told MTI on Wednesday. The award was presented to Katalin Karikó at the Hungarian American Coalition's gala marking the United States' 250th anniversary. Hungarian-American biochemist Katalin Karikó – along with American physician-scientist Drew Weissman – […]

Austrian-owned Erste Bank Hungary booked a first-quarter loss of HUF 5 billion as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday. Erste Bank had after-tax profit of HUF 20 billion in the base period, he noted. Retail lending stock rose 17% to HUF […]

Christian Dickert has been appointed CEO of Mercedes-Benz Manufacturing Hungary and head of production at the German car maker's plant in Kecskemét from May 1, the company's local unit said on Wednesday. A mechanical engineer by training, he has been with Mercedes-Benz since 2011. Over the course of his career, he has gained extensive management […]

Output of Hungary's industrial sector rose 6.7% year-on-year in March, a first reading of data released by the Central Statistical Office (KSH) on Wednesday shows. Output climbed 3.7% when adjusted for the number of workdays. Output increased in most branches of manufacturing, KSH said. Among the biggest, output in the computer, electronic and optical products […]

The 35th Valley of Arts festival, to be held between July 24 and Aug 2 this year in three villages north of Lake Balaton, will feature some 4,500 programs and 5,000-6,000 artists, organizers said on Tuesday. Festival director Natália Oszkó-Jakab stated the festival was built on partnership, respect and a love of diversity. the village […]