Despite significant costs, achieving the climate target of zero emissions by 2050 may prove a competitive advantage for Hungary, according to a recent study by McKinsey. The analysis outlines a path that will have a clear positive impact not only on climate protection objectives, but also on economic growth, job creation, energy independence and Hungary's […]
The Weerts Group is a Belgian family-owned business headquartered in Liège with operations also in four other European countries, including Hungary where the Group first appeared in the year 2000. The Weerts Group was established before 1945 as an agricultural transport company with one truck driven by Hubert Weerts operating in and around Teuven, a […]
The traditional Book Week in Hungary celebrates its 93rd anniversary this year. In 176 book pavilions, 182 exhibitors offer their books between June 9 and 12 and the program also includes book launches and signings. “After a long period of discontinuity, we were able to meet in person at Vörösmarty Square and the Danube embankment […]
The Embassy of the Republic of Slovenia held a diplomatic reception in Budapest this Thursday to celebrate Slovenia’s Statehood Day and the 31st anniversary of the country's independence. Hundreds of people, including members of the diplomatic community in Budapest and others, gathered in the Museum of Military History in the Buda Castle in Budapest at […]
Low-cost airline Wizz Air closed the 2021/2022 financial year ending March this year with a loss of EUR 642.5 million, up from EUR 576 million in the previous year, while its revenue more than doubled to EUR 1.66 billion from EUR 739 million in the previous year, according to a report published on the company's […]
Magyar Telekom will be the first company in the Hungarian corporate sector to test the four-day working week as part of a pilot project, the company announced in a statement this Thursday. The large-scale experiment, which will run for four months with the involvement of several departments, is primarily aimed at gathering experience and information. […]
Shortage of raw materials has closely caught up with labor shortages among the factors hindering the operation of firms, with 26% of small and medium-sized enterprises (SMEs) struggling with the former and 33% with the latter in the first three months of this year, according to the first quarterly results of the K&H SME Confidence […]
The Financial Stability Council of the National Bank of Hungary (MNB) has discussed and approved the 2022 Payment Systems Report. The Council found that payment service developments in 2021 returned to pre-pandemic trends, bringing about dynamic development in terms of the further spread of electronic payments. The development of the electronic payment infrastructure in Hungary […]
In May, consumer prices were on average 10.7% higher in Hungary than a year earlier. Over the past year, food and consumer durables have seen the biggest price increases. Consumer prices rose by an average of 1.7 % in one month, the country's Central Statistical Office reports. In 12 months, compared to May 2021:A price […]
The Soudal Group is the largest independent European manufacturer of sealants, adhesives and polyurethane foams for professional and private users. The Belgian family business was founded by Vic Swerts in 1966, with its Hungarian branch set up 33 years later, in May 1999, in Budapest. As Country Manager János Oltyán explains to Diplomacy&Trade, “at that […]
Budapest's first Information Point for the Elderly opened in the City Hall building on Tuesday, offering help to elderly people with various issues. Budapest Mayor Gergely Karácsony said at the opening ceremony that the opening of the information point is a seemingly small but important step towards making Budapest "truly for all of us." The […]
The works of Roger Ballen, a leading figure in contemporary photography, who creates both documentary and staged images, will be on display from Wednesday at the House of Hungarian Photographers - Mai Manó House in Budapest. Born in the United States in 1950 and living in Johannesburg, South Africa for over 40 years, Roger Ballen […]
Bloomsday will be a two-day contemporary art festival in Szombathely, W Hungary on June 16 and 17 this year, celebrating the centenary of the first book-length publication of James Joyce's iconic work Ulysses. Soma Horváth, deputy mayor of Szombathely, who is also responsible for culture, said at a Bloomsday press conference on Tuesday that the […]
As a result of a government decree, since July last year, workers from already eleven non-EU countries can come to work in Hungary on simplified terms. The relevant provision expectedly will be maintained after the end of the pandemic emergency, since in order to keep Hungarian jobs, maintain the investment rate and the operation of […]
Hungary’s leading telecommunications service provider Magyar Telekom has announced that under Government Decree 197/2022. (VI.4.) on the extra profit taxes, the expected magnitude of supplementary telecommunication tax payable by Magyar Telekom Group for the year 2022 is approximately HUF 25 billion. The company statement highlights that on June 4, 2022 the Hungarian government issued a […]
