Hungarian and U.S. officials discuss world trade Hungary’s government is an advocate of removing trade barriers and making the world economy as free as possible since the performance of the country’s economy is largely dependent on exports, Minister of Foreign Affairs and Trade Péter Szijjártó told state news service MTI after meeting with U.S. Secretary […]
European Commission Clears Vodafone's Bid to Buy Liberty Global Units The European Commission granted approval for Vodafone to acquire Liberty Global's cable business in Czechia, Germany, Hungary and Romania in exchange for full compliance with commitments previously undertaken by Vodafone. As a result, the U.K.-based telecommunications giant will become the new owner of UPC Hungary. […]
Budapest Bike-Sharing Data to be Available in Google Maps Google is launching a new service in 25 cities worldwide, including the Hungarian capital, showing users the exact location of bicycle-sharing docking stations, mediapiac.com reported. The service, offered by Google’s Map function, will also provide real-time information on the number of available bikes in a particular […]
Budapest hotel offering sees new unit Spain’s Barceló Group opened its first four-star hotel in downtown Budapest, state news service MTI reported, citing the developer company Sunbelt Group. Barceló operates more than 250 units in 22 countries worldwide. The Barceló Budapest, which was developed at a cost of close to EUR 46 million, has 5 […]
Hungarian energy company Mol will expand its community car sharing service Mol Limo with 50 new electric cars from the middle of July, state news service MTI said. The new 20 Smart EQ fortwo and 30 forfour models are smaller and easier to park. Following the expansion, the number of available cars will rise to […]
Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has signed Heads of Terms with Hungarian company 4iG about the sale of its fully-owned subsidiary T-Systems Hungary, which offers a full range of ICT solutions. Under the Heads of Terms, 4iG will purchase all the shares of T-Systems by the close of […]
Japanese firm Toray Industries is boosting its operations in Hungary by investing more than EUR 407 million in the construction of a new plant in Nyergesújfalu, a town on the River Danube, northwest of Budapest. The new unit will manufacture separator films for lithium-ion batteries from the second half of 2021. Toray first came to […]
Climate protection, energy issues and migration dominated the agenda - as well as the role the Visegrád Four should play in the European Union. As the new Slovak President, Zuzana Čaputová was received by her Hungarian counterpart János Áder in the Sándor Palace in Budapest, the two politicians agreed that mankind was in the last […]
InterContinental Budapest’s summer event series titled ‘Live on the Terrace’ is back again this year. Visitors can enjoy live music and culinary treats while sipping cocktails inspired by Hungarian inventions as they take in one of the most beautiful sunset views Budapest can offer. Throughout the summer, Thursdays will be all about Latin rhythms, with […]
The short-term outlook for the banking industry in Central and Eastern Europe is reassuring, but the financial industry has grown more cautious with respect to lending despite a supportive macroeconomic and industry backdrop, Kevin A. Murray, Chief Executive Officer for Central Europe and Country Head for Hungary tells Diplomacy&Trade. In recent years, countries in Central […]
Marriages can be of different nature. Some are between equals, others between partners where one is more equal than the other’. U.S.-Hungarian relations clearly fall into the latter category; given the size, the capabilities and the opportunities of the two countries, it is a euphemism used only in polite circles that they are equal partners […]
Hungary’s dependence on Russian natural gas imports is a concern for the Trump administration, which seeks to help the eastern European country in diversifying its natural gas supply sources, U.S. Ambassador to Hungary David B. Cornstein tells Diplomacy&Trade in an interview. Hungary’s reliance on Russia for energy supply has repeatedly been highlighted as an issue […]
Conflicts resurface in the Middle East from time to time. The region's particularly sensitive point is the Strait of Hormuz on the key route of oil shipments. U.S.-Iranian relations have been backsliding since the overthrow of the Shah in early 1979. The hostage crisis in 1979-1981 poisoned bilateral relations almost beyond repair. The Reagan administration […]
Bridgestone EMEA is injecting EUR 36 million into its eight European plants, including the one in Hungary, transforming them into smart factories, the EMEA business of the world’s largest tire and rubber company has announced. In the company’s Hungarian factory in Tatabánya, west of Budapest, where tire production is already digitalized, the entire manufacturing process […]
The Business Council for Sustainable Development in Hungary (BCSDH) has announced the ‘For a Sustainable Future’ prize in 2019, with the purpose of recognizing the achievements of leaders and companies on advancing Sustainable Development Goals (SDGs). In the 'Leading Women' category, BCSDH is looking for an outstanding female leader in a company who is working […]
