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August 2020

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Investments Decreasing in Hungary

D&T
Aug 31, 2020

In the second quarter of 2020, the national economy’s investments further decreased, the volume of developments lagged 9.9% behind, compared to the same period of the previous year. As the Central Statistical Office reports, most sections of the national economy contributed to this trend. The investments of the budgetary units declined in a larger degree […]

Katrine (8) with her coach, Hungary’s first European figure skating champion, Júlia Sebestyén

Four Years in Budapest and 40 in Diplomacy

Olav Berstad
Aug 31, 2020

In the WittyLeaks series, Diplomacy&Trade regularly publishes the personal accounts of ambassadors and other diplomatic mission leaders accredited to Budapest. This time, the departing Norwegian ambassador looks back at his career. I have now over 40 years of diplomatic service behind me, continuously since 1980. I was very pleased to be posted as ambassador to Budapest. […]

ALTEO Reports Significant Growth of Revenues

D&T
Aug 31, 2020

In the first half 2020, both the revenue and net after-tax profit increased significantly at the Hungarian energy company ALTEO Group. The 33% increase in sales revenue was accompanied by a 120% rise in after-tax profit. A report by the Group says the growth achieved not only reflects the success in investment and acquisition activities, […]

A Valued Member of the Givaudan Family

Sándor Laczkó
Aug 30, 2020

Ten years ago this year, Givaudan, the world's largest company in the flavor and fragrance segment, announced it would build a factory in Makó, SE Hungary, creating hundreds of jobs. Head of Operations and Company Manager Mihály Karkas talks to Diplomacy&Trade about the operations and achievements of this Givaudan plant. “This important investment project contributes […]

Hops

Increasing State Support for Hop Growing in Hungary

D&T
Aug 30, 2020

The size of Hungarian hop plantations may increase by another twenty hectares due to the fact that - following the subsidies of previous years - the Ministry of Agriculture will launch another support program this year with a budget of HUF 150 million to support the domestic production of beer. In Kastélyosdomb, W Hungary the […]

Carl Lutz Anniversary Year

D&T
Aug 29, 2020

This year marks the 125th anniversary of the birth and the 45th anniversary of the death of Carl Lutz (March 30, 1895 – February 12, 1975), the Swiss diplomat who saved tens of thousands of Hungarian Jews during World War II. Carl Lutz worked as a vice consul at the Swiss Embassy between 1942 and […]

Hungary Closes Its Borders

D&T
Aug 29, 2020

Starting September 1, foreign citizens may not enter the territory of Hungary without a specially justified case, Minister Gergely Gulyás has announced. According to Gergely Gulyás, Head of the Prime Minister’s Office, the government is of the view that “the second wave of the epidemic has begun in Europe.” He announced that "regarding border protection, Hungary […]

Salads for the Heroes

Sándor Laczkó
Aug 28, 2020

Eisberg Hungary joined Sportfive Hungary Ltd. and the Ferencváros sports club FTC in the initiative "We cook for heroes!" In addition to their free lunches, created by master chef András Wolf in the kitchen of the FTC stadium Groupama Arena, 150 hospital workers received fresh salads daily. Employees of the Szent László Hospital received a […]

More Births and Fewer Deaths

D&T
Aug 28, 2020

In January–July 2020, the number of births was 4.9% more and that of deaths 5.1% less than in the corresponding period of 2019 according to preliminary data reported by the Central Statistical Office. As a result, the natural decrease declined by 23% or 6,480 compared to January–July 2019. In July 2020, the number of live […]

Ballooning Deficit

D&T
Aug 28, 2020

The bigger than expected decline in Hungary’s economic output has dealt a significant blow to the government’s budget plan for 2020. As a result of the weak GDP data in the second quarter and further restrictive measures made necessary by the second wave of the epidemic, the Finance Ministry was forced to revise its budget […]

Swisscham: Quarter of a Century in Hungary

Sándor Laczkó
Aug 27, 2020

The Swiss-Hungarian Chamber of Commerce ‘Swisscham Hungary’ was founded in 1995. The leaders of the organization, President Dr. István Béres and Managing Director Júlia Lipovecz had a different jubilee year in mind for 2020. They tell Diplomacy&Trade what they planned, what they could do and what they have postponed due to the pandemic situation. “We […]

Budapest Wine festival Limited

D&T
Aug 27, 2020

This year's Budapest Wine Festival will be held under the name 'Budapest Wine Festival Limited', with a limited number of visitors and size, between September 10 and 13 in the Hunyadi courtyard of the Buda Castle. Despite the smaller size, the festival awaits wine lovers with the same standard: premium wines and champagnes, top gastronomy, […]

Spreading a Message of Global Solidarity and Stability

Edith Balázs
Aug 26, 2020

As an international pioneer of environment protection, international solidarity and peace promotion, Switzerland propagates these core values in Hungary as well through the presence of Swiss enterprises and Swisscham Hungary, the bilateral chamber operating in the country, says Peter Burkhard, Swiss Ambassador to Hungary. The diplomat stresses that an extensive overhaul of the nation’s education […]

Telekom Expands 5G Service Area in Hungary

D&T
Aug 26, 2020

By the end of August, Magyar Telekom’s service achieved another milestone by switching on dozens of new stations, and thus, the commercial service, offering gigabit download speed is already available in 23 settlements, a press release by the company says. On April 9, Magyar Telekom launched their commercial 5G service, which can be used with […]

New IT Innovation & HR Services Hub in Hungary

D&T
Aug 25, 2020

Nilfisk, a leading global manufacturer of cleaning machines for professionals and consumers, is expanding its footprint and investment in Hungary with the establishment of a new joint IT innovation & HR Services hub in Budapest. Nilfisk has been present in Hungary for more than 20 years with assembly facilities in Szigetszentmiklós and Nagykanizsa. The new […]

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