OTP Group achieved a better-than-expected consolidated adjusted profit after tax of HUF 162.128 billion in the second quarter, which was 83% higher than in the previous quarter and 26% higher than a year earlier. The analyst consensus for a quarterly consolidated adjusted profit after tax was HUF 136.541 billion, which implied a year-on-year increase of […]
The first shipment of liquefied natural gas (LNG) has arrived from the Croatian import terminal in Krk to Hungary, thus adding a new mode and route to the domestic gas supply chain, which currently serves mainly transport purposes; soon the route may be opened for industrial use as well, ARELGAS Ltd. told the state news […]
More and more people are choosing to fly again; passenger traffic at Ferenc Liszt International Airport reached 1,294,608 in July, 80% of the level before the pandemic in 2019 and up by more than 140% compared to the same period last year. The management company Budapest Airport says it prepared for the summer period both […]
The last time I wrote for this column, the topic how sport connects people. Don't worry, I will not bore you with football again, rather with other forms of connectivity like experience or enjoyment. I have been working at our Embassy in Budapest for 12 years now and even prior to that, I had the […]
While in recent weeks, there had been reporting of a steep rise in the number of infections, last week's figures show the epidemic is slowing down again. Aggregated data published on the related government website koronavirus.gov.hu, 18,078 new infections have been confirmed as opposed to 21,840 new infections in the previous week; 80 patients have […]
World stars, big favorites, currents names, established artists from previous seasons and hundreds of non-musical programs, in the usual diversity of genres. This is what Budapest’s Sziget (‘Island’) Festival – one of the largest music and cultural festivals in Europe – offers for the "big comeback" between August 10 and 15 after two years of […]
Economic uncertainty is beginning to impact investment activity in Europe’s commercial real estate (CRE) market, as shown by the data recorded for Q2 2022 in the latest Capital Markets Snapshot for Europe, the Middle East and Africa (EMEA) by Colliers. Providing balance, the Q2 assessment also suggests that the forecast of any impacts will vary […]
Hungarians consider scientists the most trustworthy and politicians the most untrustworthy of all professions, according to a global survey published recently by Ipsos. Across 28 countries around the world, a Global Country Average of 59% rate doctors as trustworthy, while 57% say the same about scientists, with teachers in third place at 52%. As in […]
Consumer prices in Hungary were 13.7% higher on average in July 2022 than a year earlier and the highest in twenty-four years. The largest price rises were measured for food and consumer durables year-on-year. The seasonally adjusted so-called core inflation was 16.7%, one of the highest in Europe. In one month, consumer prices increased on […]
The value of exports was 13% and that of imports 24% larger in EUR terms in June 2022 than in the same period of the previous year, The balance of external trade in goods declined by EUR 1.0 billion, the Central Statistical Office reports. Compared to the previous month, the level of goods exports decreased […]
A development scheme necessary to respond to exponentially growing data transmission needs between educational institutions and data centers has been won by a consortium led by Delta Systems, a wholly owned subsidiary of subsidiary of Delta Technologies Plc. to expand the backbone network. A major educational IT backbone network development project worth more than HUF […]
Having been founded in 1947, Ferrari celebrates its 75th anniversary this year. As the General Manager of Ferrari Budapest, Emanuele Lippi explains to Diplomacy&Trade, Ferrari's history is the history of motor racing. With tradition and innovation combined, the owners of road cars can also enjoy the company’s professionalism. Regarding the historical development over these seven […]
Over the past seven years, Hungary has seen the largest increase in house prices among EU countries, according to data published by Eurostat. In the first quarter of this year, the price of new dwellings rose by 19% year-on-year, while the price of second-hand dwellings increased by 20%, with prices up by 7.3 and 4.8% […]
Hungary's Judit Polgár, the strongest female chess player of all time, has received ICON award, given out by the International Chess Federation (FIDE) at its 'Year of the Woman in Chess Awards' gala as part of the 44th Chess Olympiad in Chennai, India. This was the first time that the FIDE ICON Award was presented, […]
The Budapest Stock Exchange (BSE) share index, the BUX, closed at 43,468.28 points on Friday, up 3.98% or 1,663 points from a week earlier, the state news agency MTI reported this Sunday morning, looking back at what happened at the BSE during the week. Share turnover exceeded HUF 48.564 billion, up from HUF 36.141 billion […]
