Tesco's withdrawal from Poland is not an ominous sign, but rather a good opportunity for the Hungarian subsidiary to strengthen its regional role, Zsolt Pártos, CEO of Tesco Hungary, told the Hungarian daily paper Világgazdaság. He also talked about the fact that although Tesco closed stores, new doors opened in parallel. "It is not the […]

In the third quarter of 2020, Hungarian service exports and imports – calculated in euros – decreased by 33% and 31%, respectively, compared to the same period of the previous year. According to figures published by the country's Central Statistical Office, t he surplus was EUR 1,653 million, which is EUR 908 million less than in the […]

The circular economy involves a number of tools and complex systems for making the food supply more sustainable, which is one of the most effective things we can do to tackle climate change and rebuild biodiversity. The recently held third Circular Economy Summit focused on food and biodiversity and provided a number of corporate and […]

Tungsram, the innovative Hungarian technology company that has been well-known for 125 years for his lighting solutions and products see Algeria as a respected partner and a promising market for its services, as it was in the past, says President&CEO Joerg Bauer. “In our recent discussions with His Excellency Ambassador Ali Mokrani we have found […]

The Dutch multinational life insurance, pensions and asset management company Aegon has agreed to sell its business in Hungary, Poland, Romania and Turkey to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG). "This transaction will simplify Aegon's footprint and strengthen our balance sheet", said Lard Friese, CEO of Aegon. "We are sharpening our strategic focus […]

By Sunday, 156 people had died in connection with the new type of coronavirus infection in Hungary, koronavirus.gov.hu reported. This is worse than ever , the authorities reported 154 fatalities yesterday. The number of deaths thus rose to 4,672. According to the latest data, the new coronavirus infection was detected in another 6,819 Hungarian citizens […]

Real estate venture Duna House Group says its crisis-resistant model has exceeded expectations by returning to its previous growth trajectory in the middle of the COVID-19 pandemic. A report by the Group on the website of the Budapest Stock Exchange highlights that net sales revenue increased by 11%, cleaned core EBITDA (earnings before interest, taxes, […]

Diplomacy&Trade has recently published a special section on the occasion of the Czech National Day with special emphasis on beer. This piece about the Czech Republic being the second major hop producing country in Europe has been provided by the Czech Embassy. In the Czech Republic, there are three regions where hops are grown, of […]

152 Hungarians died in the past 24 hours due to complications caused by the new coronavirus infection, bringing the number of deaths to 4,516. The majority of the deceased were elderly, chronic patients. The new coronavirus infection (COVID-19) was detected in another 6,268 Hungarian citizens, thus increasing the number of infected people identified in Hungary […]

The airline says its fleet of modern, fuel-efficient aircraft has enabled it to continue flying throughout the pandemic and lead the industry in offering global connectivity with more than 700 weekly flights to over 100 destinations. According to a statement by Qatar Airways, the airline will increase services and upgrade aircraft to several destinations, including […]

Amid the social and economic pain brought by the global COVID-19 crisis, remembering past strengths and looking beyond the pandemic might be difficult. As they work to mitigate the impact of the pandemic, Hungary’s public and private leaders must set aside time to envision and implement measures that will build on the country’s solid fundamentals […]

135 Hungarians died in the past 24 hours due to complications caused by the new coronavirus infection - more than ever before in one day, according to official figures. The majority of the 135 deceased were elderly, chronic patients, bringing the official number of deaths to 4,364.The new coronavirus infection (COVID-19) was detected in another […]

Hungary's largest commercial financial institution, OTP Bank has announced on the website of the Budapest Stock Exchange that the sale of its Slovakian subsidiary, OTP Banka Slovensko. has been financially completed. According to the announcement, the transaction, based on the share purchase agreement signed with KBC Bank NV on February 17, 2020, has been financially […]

The Hungarian-Algerian Business Council was established in 2018, based on an agreement between the Hungarian Chamber of Commerce of Industry (MKIK) and the Algerian Chamber of Commerce and Industry. The objective of the Council is to increase the bilateral trade volume while developing economic relations between Hungary and Algeria and to provide business opportunities to […]

In the 3rd quarter of 2020, investments in Hungary decreased by 12% compared to the same period of the previous year and by 2.1% in comparison with the previous quarter. Based on raw data published by the Central Statistical Office, investments declined in most sections, however in relation with the pandemic situation in healthcare they […]