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February 2022

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National Bank Orders Sberbank to Close for Two Days

D&T
Feb 28, 2022

From this Monday, the National Bank of Hungary (MNB) ordered two bank holidays at the Hungarian Sberbank at the request of the credit institution. During this period customers will be able to make bank card transactions and can receive incoming items on their accounts but will not be able to perform account transactions. The MNB […]

Hungarian NATO Plane Helps Arms Shipment to Ukraine

D&T
Feb 28, 2022

A Hungarian C-17 aircraft of the NATO Heavy Airlift Regiment stationed in Pápa, W Hungary carried weapons, destined for Ukraine, from the Netherlands to a not specified Eastern European country. In the meantime, the Hungarian government said Hungary does not offer arms to Ukraine and does not allow arms transfers through its territory, but is […]

Keeping Up Japanese Business Interest

Sándor Laczkó
Feb 28, 2022

Japan is the second most important investor country in Hungary from the Far East. The CEO of the Hungarian Investment Promotion Agency (HIPA), Róbert Ésik explains to Diplomacy&Trade how the organization is working to attract more Japanese investors and to accommodate those already established here helping the Hungarian economy. “One of the first large foreign […]

The March of the Busó in Mohács

D&T
Feb 27, 2022

One of the most popular and spectacular winter events, the Busó festival is under way in Mohács, S Hungary near the Serbian border. Going back to medieval roots, the march of people in frightening costumes is supposed to scare away winter. In the end-of-winter festival (that Hungarians refer to as 'Busójárás', that is, the 'march […]

BUX Index Fell in Rising Turnover This Week

Sándor Laczkó
Feb 27, 2022

The stock index of the Budapest Stock Exchange (BSE) fell this week, with the BUX closing at 45,769.16 points on Friday, down 8.89% on a week ago, or 4,468.04 points, the Hungarian state news agency MTI reported this Sunday morning. Turnover on the stock market was HUF 176.57 billion, down from HUF 66.5 billion last […]

Vodafone HU Reinforces Network on Ukraine Border

D&T
Feb 26, 2022

In the framework of international cooperation, a Czech Vodafone team arrived today from Prague with two extra mobile base stations to reinforce Vodafone Hungary’s network capabilities. The measure, in the implementation of which the Czech team works together with Hungarian network engineers, is aimed for Vodafone to be ready to serve customers in case of […]

T-DAY Again!

Sándor Laczkó
Feb 26, 2022

On March 3 this year, on the evening of the opening day of the traditional annual travel exhibition in Budapest, the tourism industry will celebrate with an exclusive party. The founder and chief organizer of this T-DAY event, Károly Bosznai, the Head of Communications, Krisztina Henyecz and the Sales and Marketing Director of the Budapest […]

Good Year for Magyar Telekom

D&T
Feb 25, 2022

Total revenue at the Hungarian telecommunications service provider Magyar Telekom increased by 2.5% year-on-year to HUF 193.6 billion in Q4 2021, or 4.0% year-on-year to HUF 700.1 billion for the full year, primarily driven by increases in telecommunication service revenue, particularly mobile data which offset the lower System Integration and IT (SI/IT) sales in both […]

COVID-19: Fewer and Fewer in Hospital and On Ventilator

D&T
Feb 25, 2022

In Hungary, there are 3,997 patients with the new coronavirus infection in hospital, 148 of whom are on ventilators. The last time the number of people in hospital was under 4,000 and the number on ventilators under 150 was a month ago, according to the related government website koronavirus.gov.hu. 4,498 new infections have been confirmed […]

Hungary in Delicate Situation as Russia Launches Invasion of Ukraine

D&T
Feb 25, 2022

The government of Prime Minister Viktor Orbán, Russian President Vladimir Putin’s closest ally in the European Union, is performing a delicate balancing act as Russian begins its invasion of Ukraine. While the government condemned the Russian military action and backed the sanctions proposed by the EU, Orbán made it clear that Hungary will stay out […]

Hungarian Reactions to the War in Ukraine

D&T
Feb 24, 2022

"Russia attacked Ukraine this morning. Together with our European Union and NATO allies, we condemn Russia's actions", Hungarian Prime Minister Viktor Orbán said in a statement published on a social media site. The united opposition held a demonstration at the Russian Embassy in Budapest against the Russian aggression. Hungary must stay out of this war, […]

Trust and Friendship Through Contact and Dialog

Sándor Laczkó
Feb 24, 2022

“Hungary and Japan display a close affinity for one another.” That is according to the Ambassador of Japan to Hungary, Masato Otaka. In addition to describing the various aspects of bilateral and multilateral cooperation the two countries have based on trust and friendship, he also outlines, in an extensive interview with Diplomacy&Trade, the many things […]

Housing Construction Drops in Hungary in 2021

D&T
Feb 24, 2022

In 2021, 19,898 new dwellings were built, 29% less than a year earlier. Based on issued dwelling construction permits and simple declarations, the number of homes to be built increased by 33% to 29,941 compared to 2020, the Central Statistical Office reports In Budapest, 7,038 dwellings were built, 11% more than in 2020. In all […]

EU Funding to Modernize Railway Line in E Hungary

D&T
Feb 23, 2022

The European Commission has approved an investment of over EUR 80 million from the Cohesion Fund to improve train connections for passenger and freight transport in the region of Northern Great Plain in Hungary. Commissioner for Cohesion and Reforms, Elisa Ferreira stated that “we launch another important major project to concretely improve the life of […]

Attila Chikán Jr. Re-elected as BCSDH President

D&T
Feb 23, 2022

The Electing General Assembly of the Business Council for Sustainable Development in Hungary (BCSDH) has elected a Board for another three-year term. During the six-year presidency of Attila Chikán Jr., 50 new companies joined the organization, which now brings together 115 companies producing 30% of Hungary's GDP and has become a benchmark in the field […]

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