Hungary’s Foreign Minister Péter Szijjártó travelled to Moscow to negotiate more gas imports from Russia as Hungary braces for a tumultuous winter heating season. Hungary has been a vocal critic on the European Union’s embargo on Russian energy sources, saying a swift decoupling from Russian energy would undermine the country’s economy. Hungary’s foreign minister arrived […]
Almost a quarter of new cars registered in Hungary will be electric by 2035, new data reveals. The study says that last year, just 2% of newly registered vehicles in Austria were electric. In the Netherlands and Norway, 99.9% of new vehicles are likely to be electric by 2035, data suggests. This would make them […]
An investment of over EUR one billion is set to propel Mercedes-Benz forward in the global electrification race as the German car manufacturer intends to install new assembly and body shop production lines at its Kecskemét plant, the Hungarian Investment Promotion Agency reports. The development that is meant to maintain 4,500 jobs and create a […]
The Hungarian Canoe Federation and the AutoWallis Group have concluded a cooperation agreement, under which the company listed in the Premium category of the Budapest Stock Exchange will support the Federation’s work by providing mobility services until 2024, the end of the Olympic cycle, a statement by AutoWallis Group says. The vehicle trading and mobility […]
The Electrical Insulation and Plastic Factory (VSZM) Ltd., a company specializing in the supply of plastic parts for the mechanical, electrical, construction and automotive industries, has upgraded its production capacity and image, the HUF 695 million investment was recently completed, the Siófok-based company informed the state news agency MTI in a statement. It said that […]
The Hungarian energy company ALTEO Plc. has announced on the website of the Budapest Stock Exchange that as buyer, it has concluded a quota purchase agreement for the acquisition of the registered capital representing the entirety of the business interest in EDELYN SOLAR Ltd. (‘target company’) amounting to forints HUF 3,000,000 (three million) from individuals, […]
The final statement of Jeddah Security and Development Summit, including the Members of the Gulf Cooperation Council (GCC), Jordan, Egypt, Iraq and the United States, is issued as follows, according to the Saudi Embassy in Budapest. 1.At the invitation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of […]
Following the visit of U.S. President Joe Biden to Saudi Arabia, the following joint statement was issued according to the Saudi Embassy in Budapest. At the invitation of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, President Joseph R. Biden conducted an official visit to the Kingdom of Saudi Arabia July […]
There were over 21,000 people registered as actively infected with the new coronavirus in Hungary in the previous seven days with an increasing number of patients in hospital, according to the Wednesday report of aggregated figures published on the related government website koronavirus.gov.hu. COVID-19 figures on the site suggest that 10,255 new infections have been […]
The investment – over one third of which is paid for by Hungarian taxpayers with a non-repayable amount of HUF 5.5 billion through a government decision – took 15 months to complete and will create 50 new jobs while maintaining the existing 600 jobs. The factory in Dunaföldvár, south of Budapest, was built in 2018 […]
The ruling party majority of Hungarian Parliament adopted Hungary's 2023 central budget on Tuesday by 135 votes to 54. In next year's budget, the government expects economic growth of 4.1%, a deficit target of 3.5% and inflation of 5.25%. Earlier, Finance Minister Mihály Varga said the government was counting on several factors: a prolonged war […]
The changing economic situation is also affecting the real estate market. The Duna House Demand Index showed a steady decline in the second quarter of the year, with the number of transactions also lagging compared to the same period last year. However, price growth did not stop, and all price indices increased in nominal terms […]
Wellis Hungary Co. Ltd. is to cut part of its massage pool production at its plant in Dabas, southeast of Budapest, and will therefore shed 300 of its 950 employees, the business daily Világgazdaság reports. As part of the reorganization, a new development and service center will be established in Dabas with the expansion of […]
Hungary’s three-time Olympic champion Áron Szilágyi defeated France's Maxime Pianfetti 15:14 in the men's individual saber final of the World Fencing Championships in the Egyptian capital Cairo this Monday, taking a title hitherto missing from his impressive medal collection. For a place in the quarter-finals, Szilágyi competed with fellow Hungarian fencer András Szatmári. Szilágyi quickly […]
Hungary's OTP Bank Plc. has announced on the website of the Budapest Stock Exchange that the financial completion of the transaction to purchase 100% shareholding of Alpha Bank Albania SH.A., the Albanian subsidiary of the Alpha Bank Group was completed on July 18, 2022, based on the share sale and purchase agreement concluded between OTP […]
