German carmaker Mercedes-Benz is building a new plant next to its existing factory in Kecskemét, eas-central Hungary. The capacity of the new plant, built with an investment of EUR 1 billion, will be 150,00 cars a year and the project will create 2,500 new jobs.
Hungary's manufacturing industry has been facing a shocking shortage of labour as of Q3 2016, with more than 70% of the companies surveyed reporting that the lack of adequate workforce is a hindrance to production, portfolio.hu reports.
The opposition Socialists have called on the government to terminate its scheme granting permanent residency to foreigners buying state bonds as it is disadvantageous for the country's budget and could pose a threat to safety and security.
The Budapest city council has invited tenders to operate "hop-on, hop-off" sightseeing buses in the city, the Hungarian news agency MTI reported. The concession is for 20 years and guarantees a monopoly on a market worth 1.5 billion annually.
Mercedes driver Lewis Hamilton from Great Britain claimed victory in the 31st Formula One Hungarian Grand Prix at the Hungaroring this Sunday, ahead of team mate Nico Rosberg from Germany and Red Bull’s Australian pilot Daniel Ricciardo.
Two red panda babies were born in the Sóstó Zoo in Nyíregyháza, NE Hungary. Their parents are a breeding pair, Ting-ting and Sichuan that have been living together for two years in the zoo in the framework of the European conservation program.
Hungary-based budget airline Wizz Air reports a jump in profits for the first quarter of 2016. The airline also saw halving of its intended second half growth to the UK and re-deploying this capacity to other non-UK routes due to the outcome of the Brexit vote.
In Its Witty Leaks series, Diplomacy & Trade regularly publishes the personal accounts of ambassadors accrdited in the Hungarian capital. Ihis time, it is the turn of the Dutch ambassador to tell about the challenges for climbing Dutchmen in Transylvania.
If the economic processes remain constant and productivity improves further Hungary’s accession to the euro area by the end of this decade "should not be groundless", Economy Minister Mihály Varga is quoted by portfolio.hu as saying .
Hungarian oil and gas group MOL has announced that it is selling its minority stake in Energopetrol to INA, its own Croatian subsidiary. The share purchase agreement with INA concerns the sale of MOL's 33.5% equity stake in Energopetrol.
The French-Hungarian Chamber of Commerce and Industry (CCI France Hongrie – FHCCI) has been serving the French business community in this country for a quarter of a century. Its President, Miklós Maróthy gave an interview to Diplomacy & Trade.
Internationally renowned Hungarian writer Péter Esterházy died in Budapest at the age of 66 years. He had been suffering from pancreatic cancer.His was reported by the Hungarian news agency MTI, citing the family and the publisher of the author.
On-demand ride share service company Uber is suspending its services in Budapest as of 24 July when new legislation enters into effect, facilitating the blocking of platforms that offer "illegally operating taxi services."
India's Minister of State for Culture, Tourism and Civil Aviation, Dr. Mahesh Sharma, visited Hungary this June on the occasion of the Ganges-Danube Cultural Festival and the International Day of Yoga. That is when he spoke to Diplomacy & Trade.
Poland will send another contingent of border guards to help patrol Hungary’s southern border, Polish Interior Minister Mariusz Blaszczak announced after a meeting with his Visegrád Four (V4) counterparts in Warsaw on Monday.
