German businesses settling in Hungary have been important players in Hungary in the three decades since the fall of communism and contributed to the creation of market economy in Hungary, Finance Minister Mihály Varga said at the jubilee celebration of Continental Automotive Hungary Ltd. established in 1989. The Finance Minister highlighted that the performance of […]
Investments in the Hungarian economy surged by 18.8% in the second quarter of 2019 from a year earlier, driven by the private sector, according to data from the Central Statistical Office. The figure represents a 4.1% increase versus the first quarter. Dynamic growth rates were recorded in 15 out of 19 sectors. A 31% increase […]
The U.S. State Department cleared more than USD 4.2 billion worth of potential weapons sales for Japan, South Korea, Hungary, Lithuania and Denmark, defencenews.com reports. Hungary is seeking to spend an estimated USD 500 million on 180 AIM-120C-7 advanced medium-range air-to-air missiles. The prime contractor will be Raytheon. The weapons will be used to support […]
The renovation of the iconic József Nádor Square in downtown Budapest has been completed and the square has been handed over to public use. The once disorderly public space now boasts a Zsolnay Fountain in the center and the statue of Joseph Anton Johann (1776-1847), Archduke of Austria and Palatine of Hungary who the square […]
Hungarian electric car sharing service GreenGo is entering the Czech market, offering the chance to environmentally-conscious drivers to use their cars in the Czech capital, according to a press statement by the company. Budapest-based GreenGo was the first service provider to introduce electric community driving in Eastern Europe at the end of 2016. Their fleet […]
The paddlers of the host nation won five gold, four silver and three bronze medals at the 2019 Canoe Sprint World Championships organized in the southeastern Hungarian city of Szeged, thus finishing third on the medal table behind Belarus and Germany. The sporting event attracted about 1,100 competitors from 101 countries. On the Hungarian team, […]
Budapest-headquartered transport and logistics company WABERER’S INTERNATIONAL Co. Ltd said its revenue in the second quarter of 2019 decreased by 6% to EUR 173 million. The decline is due to lower volumes in the aftermath of the end-of-March Brexit date affecting Q2 trade flows negatively in the international segment. The 7% growth in Regional Contract […]
Indian companies have invested close to USD two billion in Hungary over the past three decades, making the Asian country one of the most prolific sources of capital from the East. Diplomacy&Trade takes a look at the most significant corporate investments that hail from the subcontinent. The 2014 announcement of India’s Apollo Tyres, the world’s […]
ANY Security Printing Company PLC said net sales in the January-June period amounted to HUF 16.1 billion, HUF 0.5 billion (3%) higher than in the same period a year earlier, according to an announcement from the company. Revenue from the sale of security products and solutions amounted to HUF 4.9 billion, HUF 0.1 billion lower […]
On the day I was to present my Letter of Credentials to the President of Hungary, an official car arrived promptly to pick me up at my residence. The convoy advanced, solemn and with sirens blaring, toward the Castle. When crossing the Danube from Pest to Buda on the Elizabeth Bridge, I turned to my […]
Hungarian pharmaceutical company Gedeon Richter Plc. said that it launched a biosimilar teriparatide drug called Terrosa® in Europe. The product is approved in adults for the same indications as Eli Lilly’s Forsteo® and is used for the treatment of osteoporosis in postmenopausal women and in men at increased risk of fracture. Terrosa is also used […]
The Indian Minister of State for Culture, Dr. Mahesh Sharma told Diplomacy&Trade three years ago that “culture is a way of life in India: everything from getting up in the morning and moving on through the daily routine,” concluding that “our life is our culture.” The events organized by the Amrita Sher-Gil Cultural Center bring […]
It was exactly 30 years ago, on August 19, 1989, that - in a symbolic gesture agreed to by Austria and Hungary - a border crossing was opened on the 'Iron Curtain' for three hours. It was an event that eventually allowed hundreds of East Germans to flee to the West. In the summer of […]
Also known as the Palace of Soul, the Budapest Hare Krishna Educational and Cultural Center hosted the Magic of India Festival in the Hungarian capital this Sunday. The festival featured a concert, a craft market and a spice fair, as well as self-knowledge performances and creative children's activities.
An increasing number of businesses are implementing digital technologies in their daily business processes, driving demand for IT service providers that help their customers to bridge the digital gap, Prabal Datta, Head of Tata’s Global Delivery Center in Hungary says. A worldwide leader in IT services, Tata Consultancy Services (TCS) set up its Global Delivery […]
