AutoWallis Group, present in 14 countries in the region, closed the first quarter with growth that far exceeded the market average and an exceptional improvement in efficiency. The Group’s net earnings increased more than five-fold to HUF 1.9 billion, its EBITDA more than doubled to HUF 3.1 billion, and its revenue increased by 18%. This […]
According to a recent survey by Scale Research, the subjective income situation, borrowing openness and savings expectations of the population have now sunk to the levels seen during the coronavirus epidemic, with the last two years of strengthening almost disappearing from the population's expectations, the portfolio.hu business news portal reports. This March, only 15% of […]
The Flanders Investment & Trade (FIT) representation office in Budapest has two main missions: assisting Flemish companies in their export activities to Hungary and attracting Hungarian potential investors to Flanders. As the head of the office, Trade & Investment Counsellor Szonja Bender, explains to Diplomacy&Trade, most of the Flemish companies who contact their office are […]
Technology for Smoke-Free Homes! – a unique national program to prevent fire damage and accidents in the home – has been launched in Hungary. The aim of the campaign is to raise public awareness of the problem of burning and smoke and their harmful consequences, while providing information, sensitization and technological tools to help prevent […]
In April 2022, 6,484 children were born and 10,852 people died in Hungary according to preliminary data published by the country’s Central Statistical Office. Data show that in the last twelve months, i.e. between May 2021 and April 2022, the number of births diminished by 2.7% and that of deaths by 6.7%, while the number […]
Hungary’s decision to levy extraordinary sectoral taxes is not the first time that Prime Minister Viktor Orbán resorts to unorthodox economic measures to prop up the budget. The announcement on Thursday triggered a selling wave on local financial markets, suggesting that investors are alarmed by the country’s return to economic unorthodoxy. Hungary will impose USD […]
The International Festival of Nature and Environment in Hungary opens on May 27, with more than a hundred films screened in four venues. The three-day event will feature a wide range of family and cultural activities, including scientific lectures, concerts, craft and film activities and exhibitions in the Royal Castle and its park in Gödöllő, […]
The Bosch Group in Hungary increased its sales revenue by 14% last year to HUF 1,711 billion, István Szászi, head of Bosch Group's Hungary and Adriatic region, said at a press conference in Budapest on Thursday, the state news agency MTI reports. He added that the Bosch Group's turnover in the Hungarian market – sales […]
The inauguration of Nissho Hungary Precíziós [‘Precision’] Ltd.’s new plant in Újhartyán, SE of Budapest, is an important milestone for the Japanese-owned company that manufactures secondary processed products made of film and adhesive tape and optical film primarily for automotive electric components. The EUR 10 million investment, 35% of which is covered by Hungarian taxpayers […]
The National Day of the Argentine Republic was celebrated with a reception at the Museum of Military History in the Hungarian capital this Wednesday afternoon. Argentine Ambassador Hernán María Patiño Mayer welcomed members of the diplomatic community in Budapest, those of the Argentinian community in Hungary and others to the event held in the Buda […]
The Budapest Festival Orchestra, rated among the world's top ten classical music ensembles, is launching a program to find and develop young musical talent. The complex program, which is already keeping tabs on the development of 11 young talents, is supported by the AutoWallis Group, which itself relies on the value-added work of talented young […]
Belgium’s primarily French-speaking region, Wallonia and the (bilingual) Brussels-Capital Region maintain a joint representation office in Budapest, operating under the umbrella of the Belgian Embassy. The AWEX (Wallonia Export & Investment Agency) office, in charge of foreign trade promotion in Hungary and foreign investment attraction to these regions, is headed by Edit Ránky as Trade […]
The governing majority of the ruling Fidesz party passed the 10th amendment of Basic Law to extend the government's powers to declare a state of emergency. This will now be possible not only in the event of an epidemic, but also in the event of war in a neighboring country. The government took the opportunity […]
The Embassy of the Republic of Croatia held a diplomatic reception in Budapest this Tuesday to celebrate Croatia’s Statehood Day. Hundreds of people, including members of the diplomatic community in Budapest, those of the Croatian community in Hungary and others, gathered in the Museum of Military History in the Buda Castle in Budapest at the […]
Leading global automotive supplier KOSTAL Group establishes a new business service center (BSC) in Budapest that will employ up to 360 highly skilled workers. The office facility will support and enable the Group’s existing operations in Europe and across the globe. The company is reported to launch a HUF 1.15 billion training program for future […]
