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May 2021

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Budapest Rental Housing Market: Slight Recovery

D&T
May 10, 2021

In parallel with the easing epidemic situation and the partial opening, demand in the Budapest rental market has strengthened by the beginning of May: compared to the low of HUF 126,000 in December, the average asking rent has now risen by 7.6% to HUF 135,000, according to a recent analysis by Rentingo.com. As reported by […]

Campaign to Popularize Hungarian Sparkling Wine

D&T
May 10, 2021

The National Council of Wine Communities (HNT) is promoting the conscious, moderate consumption of Hungarian sparkling wine on the World Wide Web, the organization told the state news agency MTI on Monday. The campaign entitled ‘Pezsegj szabadon!’ (Sparkle freely!) is financed by the HNT and managed by the Artvertising Group. Creative director Gergely Nagy said […]

Pandemic Crisis Management at Gedeon Richter

D&T
May 10, 2021

As the world enters into the second year of the COVID-19 pandemic, the Hungarian pharmaceutical company Gedeon Richter Plc. continues to regularly provide a brief update of its impact on the health and wellbeing of its employees and its operations at large. According to OECD Statistics, global GDP declined by 4.2 % in 2020 due […]

Surplus in Hungary's External Trade

D&T
May 9, 2021

Surplus on external trade in goods amounts to EUR 1,013 million in March, both exports and imports increase by 14% compared to February. In EUR terms, the value of exports was 22% and that of imports 15% higher in March 2021 than in the same period of the previous year. The balance of external trade in goods improved […]

COVID-19: Daily Death Toll Falls Below 100

D&T
May 9, 2021

98 Hungarians died as a result the new coronavirus infection in the past 24 hours, bringing the total official number of deaths realted to the COVID-19 desease to 28,602. The last time the daily death toll was below 100 was on February 28. A total of 1,145 new infections were registered in the past day, […]

From Bangkok to Budapest

In the WittyLeaks series, Diplomac&Trade regularly publishes the personal accounts of ambassadors and other diplomatic mission leaders accredited to Budapest. This time, the Ambasador of Thailand describes his pursuing of photography both in his native country and Hungary. “Life is like a camera, just focus on what is important and capture the good times.” This […]

Capital Circus of Budapest 130 Years Old

D&T
May 8, 2021

Budapest's first permanent circus opened on May 7, 1891 in the City Park. The popular establishment has undergone major changes over the years, with a succession of owners, several tenants and two complete renovations. The plan to open a circus was already in the minds of the decision-makers of the capital in 1888, but the […]

Tungsram Opens Vertical Farm

D&T
May 7, 2021

An R&D purpose vertical farm unique in Central Europe was presented in the Újpest headquarters of Tungsram. The installation, which is based on technology evoking sci-fi movies, is one of the key factors for the food security of the future. The farm was established with the funding of the Hungarian Ministry for Innovation and Technology […]

CEE Economies Expected to Accelerate in 2021 and 2022

D&T
May 7, 2021

According to Colliers, a leading diversified professional services and investment management firm, Western European capital, particularly German and UK funds, was most active and responsible for ca. 50% of all volumes in Q1 2021 across the CEE region. According to Kevin Turpin, Regional Director of Research, CEE, “as the pandemic continues to impact on capital […]

Hungary’s 2022 Budget Bill Reflects Election Year Is Coming

D&T
May 7, 2021

The Hungarian government argues that next year’s budget bill, submitted earlier this week, is aimed at relaunching the economy. However, the bill has come under heavy fire from the Fiscal Council, the National Bank of Hungary and opposition parties for being an election-year budget designed to support key voting groups. Hungary’s 2022 budget targets economic […]

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Sziget Festival 2021 Canceled

D&T
May 6, 2021

Due to the uncertainties caused by the epidemic situation, Sziget will not take place this year as it did last year. The organisers have announced that one of Europe's biggest festivals, which is Hungary's most important tourism event, is planning a big comeback in 2022. As the festival's website puts it, "Due to the global […]

Industrial Production Up by 16.5% in Hungary

D&T
May 6, 2021

In March 2021, the volume of industrial production exceeded the previous year’s low base level by 16.5%. Based on working-day adjusted data production rose by 16.2%. According to seasonally and working-day adjusted data industrial output was 0.4% higher than in February 2021. As the Central Statistical Office reports, all manufacturing subsections contributed to the growth. […]

Fruitful First Quarter at Erste Bank Hungary

D&T
May 5, 2021

Erste Bank Hungary closed the first quarter of this year with a profit after tax of HUF 15.1 billion. Operating income was 24.1% higher than in the same period of the previous year, while expenses increased by a much lower 6.3 %. Lending growth in both the retail and corporate segments slowed compared to last […]

A Reference Hub in Gastroenterology

Sándor Laczkó
May 5, 2021

The Affidea Gastroenterology Center in downtown Budapest awaits patients with the continent’s most modern diagnostic equipment, the excellence of the national gastroenterology profession – trained experts with many years of experience – and a pleasant environment. The number of newly discovered cancers dropped significantly in 2020 since the start of the pandemic, presumably due to […]

House Prices Fall in Budapest and Nationwide

D&T
May 5, 2021

Following an increase in the previous quarter, house prices fell by 1.4% in Budapest in the fourth quarter of 2020. Prices were 0.7% lower in the capital compared with the same period a year earlier. Down 0.4%, house prices also fell in rural cities in 2020 Q4. The annual increase in prices slowed from 8.7% […]

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