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December 2019

33 hits

Three Meetings with Hungary

There were, of course, more than three meetings. More than 33 in fact, but these three, which I will briefly present, seem the most important from today's perspective. They are deeply rooted in memory and heart. 1975-1976 July 1975. My first trip to Hungary. Together with my fiancée Márta Gedeon. We speak Polish. In addition […]

David Moucheron

Bolstering the Foothold in Hungary

Edith Balázs
Dec 30, 2019

As the specter of a global economic slowdown looms, many banks are bracing themselves for leaner times. David Moucheron, Chief Executive Officer of K&H Bank, one of the leading financial institutions in Hungary, is confident that the bank’s solid financial position and international expertise as well as the resilience of the local economy open new […]

German self-propelled howitzer Panzerhaubitze 2000

Hungary, the Biggest Buyer of German Weapons

D&T
Dec 27, 2019

After three years of falling, weapons and military hardware exports by Germany have gone into reverse in 2019, reaching almost EUR 8 billion, and the quarter of these exports deliveries went to Hungary, Deutsche Welle and euronews report. Documents show that Hungary purchased roughly a quarter of all the authorized German arms exports in the […]

Szonja Bender

Gateway to Hungary

Edith Balázs
Dec 27, 2019

The Belgian region of Flanders has one of the world’s most open economies and businesses established there are naturally inclined to expand abroad. The Hungarian representation of Flanders Trade & Investment (FIT), set up by the Flemish government in 2005, serves as a gateway to the Hungarian market for Flemish exporters. The FIT office in […]

New Record at Budapest Airport

D&T
Dec 27, 2019

Four days before the end of the year, traffic at the Budapest airport reached a new record: on December 27, this year's 16 millionth passenger crossed the gates of the terminal – for the first time in its history. Thus, the Liszt Ferenc International Airport remains one of the fastest growing airports in the region […]

Edit Ránky

An Emissary of Business Relations

Edith Balázs
Dec 23, 2019

Under Belgium’s federal system, the country’s three provinces of Flanders, the Brussels Capital region and Wallonia exercise independent powers as they strive to enshrine their economic autonomy. An area where this becomes markedly obvious is trade and investment promotion, and accordingly the regions operate separate trade representation offices in Hungary to facilitate bilateral business relations. […]

Christmas Shopping Helps Retail Trade to New Record

D&T
Dec 23, 2019

Hungarian retailers are likely close the year with record sales: the December consumption of the population was expected to reach HUF 1,200 billion, well above predictions, according to the Hungarian news agency MTI. The last weekend before Christmas saw bigger crowds in shopping malls, markets and Advent fairs than ever before. The parking lot of […]

Siegfried Peinen, the Ambassador of the Kingdom of Belgium

Belgian Investors Punching Above Their Weight

Edith Balázs
Dec 20, 2019

Sometimes overshadowed by issues related to the European Union due to the bloc’s heavyweight presence in Brussels, bilateral relations between Belgium and Hungary are thriving, especially in the field of economic cooperation. The interest of Belgian businesses in Hungary as an investment destination continues unabated with representatives of technological and future-oriented companies increasingly drawn to […]

Free ice rink at the Budapest Municipality

Budapest Municipality Opens Free Ice Rink

D&T
Dec 19, 2019

Where there was a parking lot, there will now be skaters. A new ice rink opened to the public in the parking lot of the Budapest Municipality the Thursday. The free ice rink is situated in the inner courtyard of the Mayor's Office, replacing the former parking lot. The solemn opening was held Thursday afternoon […]

Hungarian Movie on Oscars Shortlist

D&T
Dec 18, 2019

The Academy of Motion Picture Arts and Sciences has announced shortlists in consideration for the 92nd Academy Awards (a.k.a. Oscars) and the list of ten entries in the 'Best International Film' category include the Hungarian movie 'Akik maradtak' (Those who remained). Directed by Barnabás Tóth, it is a lyrical story of the healing power of […]

OTP Bank Completes Slovenian Acquisition

D&T
Dec 17, 2019

Hungary’s largest bank, OTP Bank Plc. has announced that the financial closure of its Slovenian transaction has been completed. As a result, OTP Bank has become 99.73% owner of SKB Banka, the Slovenian subsidiary of Societe Generale Group and other local subsidiaries held by SKB Banka. With a market share of nearly 9%, SKB Banka […]

Card Payments on the Increase

D&T
Dec 16, 2019

In the third quarter of 2019 the number of payment cards and within this, that of cards facilitating contactless payments continued to grow, according to a report by the National Bank of Hungary. The expansion in the volume of electronic payments primarily continues to be a result of the dynamic growth of the number and […]

Freek van Eijk, Director of the Holland Circular Hotspot

Reduce, Reuse, Recycle

Sándor Laczkó
Dec 16, 2019

Transitioning to a circular economy is one of the leading business opportunities of our era. Although the core concept is not yet thoroughly understood or followed by most economic actors, the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the […]

Budapest

October, the Strongest Month in Budapest Tourism

D&T
Dec 14, 2019

October was the fastest growing month of 2019 in terms of guest arrivals and guest nights in Budapest, an analysis by the Budapest Festival and Tourism Center (BFTK) notes. Sales of commercial accommodation in Budapest were close to HUF 25 billion. For the first time in a long time, not only lodging revenues have increased […]

INA Refinery in Rijeka, Croatia

Rijeka Refinery Residue Upgrade Project

D&T
Dec 13, 2019

The Hungarian oil and gas company MOL Plc. has notified the market on the website of the Budapest Stock Exchange that the Supervisory Board of its Croatian subsidiary, INA granted its prior agreement this Friday for the Rijeka Refinery Residue Upgrade project and the INA Management Board unanimously approved the investment. The decision was supported […]

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