The Hungarian light bulbs and electronics manufacturer Tungsram's bankruptcy negotiations with creditors were unsuccessful, and the company will be liquidated, a Tungsram representative confirmed to the Hungarian news portal Mérce. Tamás Mehlhoffer, the company's PR and communications director, said that Eximbank, the largest creditor, did not accept Tungsram's debt settlement offer, "and their vote is […]
The trucking company Waberer's International's revenue in the third quarter of 2022 increased by 18.1% year-on-year to EUR 174.6 million, while in the first nine months of the year, the group's revenue was EUR 506.7 million, 15.1% higher than in the same period of 2021, the company said on Monday on the website of the […]
In September 2022, 917,000 guests spent 2.2 million tourism nights in commercial accommodation establishments (hotels, boarding houses, camping sites, bungalow complexes and community hostels) in Hungary. The number of guests rose by 3.8% and that of nights by 1.3% compared to the same period of the previous year, the Central Statistical Office (KSH) reports. Compared […]
Interactive educational lectures, exhibits and book presentations, concerts and craft activities were on offer this Sunday on the free family day of the Hungarian Museum of Natural History in Budapest. A child who collects stones today might become a famous geologist later on, while those who study the skeletons at the dinosaur stand might one […]
Toolstyle Szerszám- és Alkatrészgyártó Kft.[Tool and Spare Parts Production Ltd.], based in Miskolc, NE Hungary, has won EUR 119.26 million EU subsidies under the Széchenyi Plan Plus program, which will help it move towards robot-driven production, the company told the state news agency MTI. According to the statement, the HUF 238.5 million investment will be […]
The stock index of the Budapest Stock Exchange (BSE) increased on an upward trend in the just three trading days of the week, closing at 42,629.68 points on Friday, 1,575.97 points – or 3.84% – higher than a week earlier, the state news agency MTI reported Sunday morning along with a brief analysis. The weekly […]
High energy prices are further complicating the situation for Hungarian farmers: this year's weather means that the season will bring less income due to a smaller than average harvest, but this can be offset by higher storage costs, Vg.hu reports. Ferenc Ledó, head of the vegetable production sub-department of the National Chamber of Agriculture, told […]
Nearly 570,000 workers earn a guaranteed minimum wage of HUF 260,000 gross or less, which is nearly 20% of full-time employees, according to data from the Hungarian Central Statistical Office KSH). KSH has published its analysis of the second quarterly wage data. It shows that wages are growing fast in Hungary, but also that a […]
A ticket purchase system, which is used in other parts of the world, will first be tested in the Hungarian capital on the shuttle bus to the main airport. Budapest Transport Center (BKK), in cooperation with Mastercard, Monet+ and K&H, will start testing a technical solution that will make using public transport even faster and […]
Members of the Culture and Education Committee of the European Parliament have concluded their visit in Budapest, having gathered insights into recent developments in the country’s cultural, education and media policies. In the concluding press conference in Budapest on Friday, the head of the delegation Sabine Verheyen (a German delegate of the European People’s Party) […]
It is increasingly apparent that Hungary’s inflation is the steepest in the European Union. Although the official inflation indicators of the Baltic countries are higher than those of Hungary, EU data from the summer show that the core inflation indicator, which contains much less distorting effects, is the worst in Hungary. The inflationary pressure intensified […]
In the presence of the President of the Republic, Katalin Novák and the Commander of the Hungarian Defense Forces, Romulusz Ruszin-Szendi, the national flag was raised and lowered to half-mast on the anniversary of the invasion of the Soviet troops and the start of the crushing of the 1956 Revolution on Friday, in front of […]
13,617 new homes were built in the first three quarters of 2022 in the capital, 7.7% more than a year earlier. The number of dwellings to be built under construction permits issued and simple declarations was 25,984, 16% more than in the same period of 2021, the Central Statistical Office reports. In the first three […]
Supported by the strong Upstream and Downstream performance, driven by the macroeconomic factors, Clean CCS EBITDA resulted in USD 1,449 mn in Q3 2022, the Hungarian oild and gas company MOL said on the website of the Budapest Stock Exchange. This result brought Q1-Q3 2022 EBITDA to USD 3,627mn that allows MOL to further upgrade […]
The expectations of Hungarian companies have become more pessimistic for the 2023 economic year, but half of the companies still expect growth next year and a larger share of them plan to increase wages, according to a recent HR Panorama 2022 study by Profession.hu. The findings of the study, which examines current labor market challenges […]
