Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has switched off its 3G network, which is no longer available anywhere as of today. The Company is also preparing for the needs of the future and will continue its multiyear network modernization program launched in 2020. The purpose of the modernization is […]
Internationally renowned research biologist Katalin Karikó, the Hungarian biochemist who played a significant role in developing the medical technology of mRNA-based vaccines with her discoveries, had been chosen as a recipient of an honorary doctorate by Eötvös Loránd University (ELTE) in Budapest. The awarding ceremony, followed by a scientific symposium honoring Katalin Karikó at the […]
The National Bank of Hungary delivered the biggest rate cut since 2008, surprising the markets with the size of the move. The monetary decision came after the forint weakened to levels never seen before. The Hungarian central bank raised the base interest rate by 185 basis points to 7.75% this week and policy makers aligned […]
OTP Bank is preparing a three-year green bond issue in euro, Global Capital reported. According to the portal, investors were sounded out on Wednesday and Thursday, and the bond is expected to be issued early next week. According to the plans, the bond would not be callable in the first two years of its maturity, […]
The onset of the summer season, the dynamic growth of post-Covid air traffic and the unprecedented staff shortage across Europe is creating huge challenges for airports across the continent. For weeks now, there have been reports of flight cancellations, delayed departures and arrivals, and ground handling disruptions. Thus, Budapest Airport, the management company of the […]
The Hungarian Economic Research Co. GKI has revised its growth forecast for 2022, it raised its GDP forecast to 3.5-4% from the previous 2.5-3%y, and lowered its GDP forecast for 2023 to between 2.5-3% from 3.5-4%. The change is a consequence of faster-than-expected growth in the first quarter and stronger-than-expected austerity measures and inflation rate, […]
Industrial producer prices increased by 32.3% on average in May 2022 compared to one year earlier. Domestic output prices were higher by 43.3%, non-domestic output prices grew by 26.7%, Hungary's Central Statistical Office reports. The rate of increase of prices was influenced principally by the hike in base material and energy prices and by the […]
The European Commission has today selected 135 transport infrastructure projects for EU grants, from 399 project proposals submitted under the Connecting Europe Facility (CEF), the EU's funding instrument for strategic investment in transport infrastructure. Five of the winning projects are from Hungary. The funding will support projects across all EU Member States along the Trans-European […]
As a result of an investment of more than two billion forints, the Mátyás Király [‘King Matthias’] promenade in front of a line of hotels in Hajdúszoboszló, E Hungary, will be completely renewed, the town hall informed the state news agency MTI. According to the press release, the municipality, the Hajdúszoboszló Tourism Nonprofit Ltd., the […]
Several heat records were broken in Wednesday's heatwave in Hungary, with temperatures reaching over 39 degrees Celsius, the National Meteorological Service has announced. According to their post, the early morning heat records were already broken. "After the hot daytime hours, the night-time, early morning hours did not bring any refreshment until Wednesday morning, with the […]
3,042 new infections were confirmed in Hungary last week, bringing the total number of identified infections to 1,928,125 since the beginning of the epidemic. The death toll rose to 46,647 as 21, mostly elderly, chronic patients, passed away last week, according to the data by the related government site koronavirus.gov.hu. The website said on Wednesday […]
Nyíregyháza Zoo in NE Hungary, has been named Europe's best zoo in the category between 250 and 500 thousand visitors for the third time, according to an independent zoo expert. The prize was handed over at a ceremony in the Nyíregyháza Zoo where expert Anthony Sheridan said that 126 zoos in 29 countries had been […]
Sixt, a member of the AutoWallis Group, has built its new technical base in Vecsés, near Budapest's Ferenc Liszt International Airport. Of the HUF 705 million investment project, 40% (HUF 282 million) is covered by Hungarian taxpayers through a decision by the government. AutoWallis classified the construction of the new base a green project, devoting […]
An autonomous electricity network, the so-called micro-grid system, will be built at the Budapest University of Technology and Economics (BME) Industry 4.0 Technology Center with the technical support of Schneider Electric, under a cooperation agreement between the two parties to further strengthen the relationship between the institution and the company in the field of education. […]
Last year, the Swedish Chamber of Commerce organized the first CSR Awareness Week in Hungary with great results. This year – between June 27 and July 3rd – many businesses and non-profits have the possibility to create awareness towards CSR and to start a cooperation within a company or between organisations. The aim of the […]
