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2020

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VAT Cut Requested on Restaurant Deliveries

D&T
Apr 2, 2020

In order to reduce the severe consequences of the Covid-19 crisis on domestic restaurants, Wolt, a food delivery company, is asking the government to reduce the 27% tax rate of food consumed outside restaurants (takeaway, delivery) to 5% that applies to food eaten at restaurants. The turnover of restaurants has decreased dramatically in the recent […]

Diane Holdorf at the BCSDH teleconference

Healthy People, Healthy Planet

D&T
Apr 1, 2020

While right now the key factor is the survival of the supply chain, after overcoming the pandemic, it will also be necessary to address the challenge of sustainable food systems, which play an essential role in maintaining the health of people and the planet. That was highlighted by Diane Holdorf, Managing Director of the World […]

IATA: Airlines Facing Rapid Cash Burn

D&T
Apr 1, 2020

The International Air Transport Association (IATA) published a new analysis showing that airlines may burn through USD 61 billion of their cash reserves during the second quarter ending June 30, 2020, while posting a quarterly net loss of USD 39 billion, ftnnews reports. This analysis is based on the impact assessment IATA released last week, […]

Facilitating the Flow of Air Cargo

D&T
Mar 31, 2020

The International Air Cargo Association (TIACA) is reporting that results are being achieved in the efforts to facilitate flow of air cargo in the world through the work of a specially created by ICAO “COVID-19 Technical Group”. Its objective is in joint actions by the aviation industry related to COVID-19, and it also includes experts […]

PM Viktor Orbán in Hungarian Parliament

The Law to Give Government Extra Powers Takes Effect

D&T
Mar 31, 2020

The government of Viktor Orbán has been granted sweeping new powers for an unlimited period of time to manage the country’s coronavirus epidemic. According to a government spokesman, this law – which allows the government to bypass parliament – makes it possible to introduce “extraordinary measures” that are needed to fight the COVID-19 pandemic. The […]

New Measures at Lufthansa and Eurowings

D&T
Mar 31, 2020

Lufthansa and Eurowings are introducing further measures to ensure the physical distance between passengers during their journey, ftnnews reports. From March 27, 2020, neighboring seats on board in Economy Class and Premium Economy will be blocked and remain free on all flights from Germany. This also applies to flights within Germany.  This regulation does not […]

Singapore Airlines: Capital Increase and Bond Issue

D&T
Mar 30, 2020

Singapore Airlines Limited (SIA) will offer all shareholders SGD 5.3 billion in new equity and up to a further SGD 9.7 billion1 through a 10-year Mandatory Convertible Bonds (MCB). Both will be offered on a pro-rata basis via a rights issue, and both issuances will be treated as equity in the Company’s balance sheet. SIA […]

Wake-up Call

Handling the Covid-19 coronavirus situation seems to be one of the biggest challenges of our post-’89 new world – but also a possibility to rethink and recalibrate European co-operation and maybe the entire European project. The end of a period and hopefully the beginning of another one. Ruling by decree in a war-style fashion sounds […]

5G frequencies sold in Hungary

D&T
Mar 30, 2020

Magyar Telekom, Telenor and Vodafone have paid HUF 128.49 billion altogether for the 15-year use of bandwidths suitable for 5G standard data transmission. The bandwidths were auctioned by the National Media and Infocommunications Authority (NMHH) late March. According to the Authority, the auction, held under stringent precautionary measures, saw "intensive competition," although, only the three […]

People's Movements to be Restricted in Hungary

D&T
Mar 27, 2020

The restrictions on movement are introduced as of this Saturday through April 11 for the the whole territory of Hungary. During this period, people will only be allowed to leave their homes "for good reason." According to the decree, these "good reasons" include going to work, performing occupational duties, pursuing economic, agricultural and forestry activities, […]

Chamber Proposal to Cope with COVID-19 Crisis

D&T
Mar 26, 2020

A six-point financial package designed to offset the negative financial and economic impact of the coronavirus epidemic was drawn up at the Budapest Chamber of Commerce and Industry (BKIK) on the basis of direct feedback from small and medium-sized enterprises. The President of the Budapest Chamber of Commerce and Industry (BKIK), Elek Nagy, proposes to […]

MOL Starts Producing Sanitizers

D&T
Mar 26, 2020

Hungarian energy giant MOL has started production of hand and surface sanitizers to offer protection against the COVID-19 coronavirus. Both products are in short supply in Hungary. Lubricants producer and MOL Group member MOL Lub managed to shift production of a windshield washer production line at its Almásfüzitő plant in just two week. The unit […]

Healing Solutions for Tourism Challenge

D&T
Mar 26, 2020

With millions of jobs at risk as the pandemic hits tourism harder than any other sector, the World Tourism Organization (UNWTO), with the support of the World Health Organization (WHO), calls on innovators and entrepreneurs to put forward new solutions to help the tourism sector recover from the COVID-19 crisis. The 'Healing Solutions' global call […]

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