CIG Pannonia Life Insurance Plc. has issued a statement informing its investors and other participants at the Budapest Stock Exchange that it has taken and implemented fast and effective measures to compensate for the effects of the emergency situation caused by the COVID-19 epidemic. At the beginning of the epidemic in Hungary, the management prepared […]
The Budapest Research Forum (BRF), which comprises the real estate firms CBRE, Colliers International, Cushman & Wakefield, ESTON International, JLL and Robertson Hungary, sets out below its Q1 2020 industrial market snapshot. In Q1 2020, 40,010 sq m of new space was added to the total modern industrial stock in Budapest and its surroundings, as […]
Another ten people died of the Covid-19 disease in Hungary in the past 24 hours, raising the number of deceased in the current pandemic to 199 in this country. The confirmed number of people infected with the coronavirus now stands at 1,984. There are 11,240 people in compulsory home quarantine and 267 recovered. The official […]
The European Commission has approved a HUF 350 billion (approximately EUR 1 billion) scheme to support the Hungarian economy in the context of the coronavirus outbreak. The support measures available under the scheme will be financed by the EU structural funds. According to Executive Vice-President Margrethe Vestager, in charge of competition policy, “this EUR 1 […]
The World Health Organization (WHO) declared the spread of the COVID-19 virus a global pandemic, and national governments declare emergency situations after one another. It is needless to say that uncertainty has taken its toll on the global economy. The foregoing is expressly true to cross-border and domestic M&A transactions where within a very short […]
By early April, Budapest Airport lost approximately 99.3% of its passenger traffic. Earlier, there were 320 aircraft movements, i.e. landings and takeoffs per day on average. Currently, this is just 35, of which only a few aircraft are airliners. In April 2019, the average daily passenger number (arriving and departing) was 44 000; this year, this […]
Hungarian freelance photographer Esther Horváth has been named as the winner of the 1st prize for single photos in the Environment category for her picture 'Polar Bear and her Cub' at the 2020 Photo Contest. In Budapest, the exhibition can be visited at the Hungarian National Museum from September 24 to October 25, 2020. Esther […]
The stability of customers and suppliers is important for UniCredit Bank Hungary Co. Ltd. – as are liquidity-maintaining payments in economic life, a statement by the company says. With this in mind, UniCredit Bank supports its domestic suppliers by speeding up the payment of their invoices by settling them immediately after the usual checks. This […]
Another 14 people died of the Covid-19 disease in Hungary in the past 24 hours, raising the number of deceased in the current pandemic to 156 in this country. The confirmed number of people infected with the coronavirus now stands at 1,763. There are 12,401 people in compulsory home quarantine and 207 recovered. The official […]
Media specialist Piroska Bakos is the new Head of Communications at the Hungarian oil and gas giant MOL Co. Ltd. She holdsthe position of the Group's communications manager in Hungary as of April 15. Piroska Bakos leads MOL Hungary's team responsible for Hungary's external and internal communications, as well as acting as spokesperson, under the […]
The Photojournalist Section of the Association of Hungarian Journalists has announced the winners of the 38th Hungarian Press Photo Exhibition: András D. Hajdú and Bea Kovács, both of them freelancers. The Grand Prize of the Association of Hungarian Journalists went to András D. Hajdú for his series portraying the life of a segregated gypsy community […]
The Hungarian government wishes to put some of the burden of handling the coronavirus pandemic by levying special taxes on banks and retail chains. The latter mainly concerns the multinational retail chains present in Hungary as the Hungarian store chains were made exempt from this tax by the government, according to a new study by […]
Colliers International’ latest report “COVID-19 European Real Estate Markets Government Response” presents information on how the national governments across EMEA are supporting businesses with specific reference to commercial and residential rent/mortgage payments, business loans and grants, taxation allowances and business rates and household/individuals salaries. Concerning direct government support for occupiers and/or landlords with their commercial […]
With effect from 15 April, the Board of Trustees of the Central European Press and Media Foundation (Kesma) has appointed László Szabó as the CEO and Chairman of the Board of Directors of Mediaworks Hungary Company Ltd. according to Kesma's website. In recent years, László Szabó has worked as Hungary's ambassador to Washington, and for […]
The international furniture and home retail chain JYSK has announced to build a distribution center in Ecser, southeast of Budapest, to provide stores in seven countries with goods. Due to this investment worth EUR 200 million, the Danish furniture company is going to create 300 new jobs. Following the opening of its first shop in […]
