Tatabánya-based Motor-Classic Plc., a manufacturer of precision metal parts and restoration of veteran cars, is expanding its plant with a new production hall and a modern machining center. According to marketing director Viktor Tamás, the company is expanding its 5,000-square-meter production area with a new 2,000-square-meter hall, which will house a five-axis machining machine and […]
Hungarian artist Tamás Dezső's exhibition ‘Hypothesis: Everything is Leaf', exploring the connections between the living world and man, will be on view at the Capa Center in Budapest from September 22 to December 23. The series, which explores the complex relationships of the living world, was inspired by the artist's philosophical studies and is seen […]
The e-commerce market in Hungary is growing dynamically, with turnover in 2021 reaching more than HUF 1,200 billion, up 32 percentage points in the past year, according to a representative Payment Experience Report, supported by Mastercard, which was published in a statement on Monday. Mastercard's marketing manager in Hungary, Péter Mondovics, said in the statement […]
Bread prices in the EU rose by an average of 18% on an annual basis in August this year, significantly up on the 2.7% increase recorded in the same period in 2021 compared to the same period the year before, the business news site napi.hu reports based on information from Eurostat. Hungary is the absolute […]
Alteo and Shell are launching a joint nationwide residential used cooking oil collection program in Hungary. According to a press release sent to the state news MTI on Monday, the cooperation between energy service provider and trader Alteo, Shell Hungary Zrt. and Biotrans Ltd. is a good example of the practical implementation of the circular […]
"The situation of Dunaferr has become untenable", and after the closure of one blast furnace weeks ago, the steel works were forced, on September 16, to close down the other one, which, according to the company, "could have fatal consequences for one of the largest Hungarian industrial companies." The immediate reason for the shutdown, they […]
The first phase of the planned major shutdown of the Danube Refinery in Százhalombatta, south of Budapest, has been completed, Mol has kept to schedule and restarted all plants, thus producing fuel at full capacity again, the company said in a statement. The second phase of maintenance is scheduled to start on October 9. It […]
The European Commission, the quasi-government of the European Union, calls for an estimated EUR 7.5 billion in EU funding to be withheld from Hungary over corruption concerns that the Hungarian government failed to dispel. Referring to EC President Ursula von der Leyen's State of the Union address earlier this week, EC Commissioner Johannes Hahn, in […]
The stock index of the Budapest Stock Exchange (BSE), the BUX, closed at 40,057.18 points on Friday, down 2.09% at 853.63 points compared to last week, the state news agency MTI reported on Sunday morning along with a brief analysis. The total turnover was HUF 53.809 billion, compared to HUF 33.255 billion the previous week, […]
Members of the diplomatic community in Hungary, Mexicans living in the country and other guests gathered at the residence of the Mexican Ambassador in the Buda Hills in the Hungarian capital this Saturday afternoon to celebrate Mexico's national day at the invitation of Ambassador Rosario Molinero. It was 212 years ago, on September 16, 1810 […]
The Hungarian government has decided to extend the gasoline and food price freeze, the Minister heading the Prime Minister's Office, Gergely announced at the Government Info in Budapest on Saturday afternoon. According to the minister, the war and the sanctions in response response had led to a brutal rise in energy prices, which in turn […]
The growth in passenger numbers, typical of the summer months, continued in August, with a total of 1,299,814 passengers passing through Budapest Ferenc Liszt International Airport. August was thus the third month in a row when passenger traffic reached or exceeded 80% of the record-breaking 2019 volume before the coronavirus pandemic, and the fourth month […]
The Hungarian government has paid 40% of the construction costs of a new HUF five billion cheese factory complex in Szekszárd, Southern Hungary. Tolnatej's new plant will have the capacity to produce 19,000 tons of cheese a year, and the development will secure the company's operations and jobs for the coming period, the Finance Ministry […]
Under its Green Program, the National Bank of Hungary (MNB) has launched a research methodological project to assess the financial risks related to the decline in biodiversity and to develop financial supervisory methodologies to address those risks, according to a press release by the Bank. The nearly two-year project is financed by the European Union […]
The digital economy has been a key contributor to the economic development of countries in central and southeastern Europe. As Europe tackles the combined crises triggered by the pandemic and the invasion of Ukraine, digital economy may emerge as the means to mitigate the impacts. The digital economy has historically been a key growth driver […]
