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March 2023

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Industrial Producer Prices Decrease but Still Up Y-on-Y 

D&T
Mar 31, 2023

Industrial producer prices rose by 29.0% on average in February 2023 compared to one year earlier. Domestic output prices were up by 56.4% and non-domestic output prices by 15.8%. The faster growth in domestic output prices was due to the proportion of the energy industry, where a significant price increase occurred, being much larger in […]

Automotive Engineering Competence Center in Budapest

D&T
Mar 31, 2023

Bosch and the Budapest University of Technology and Economics (BME) Competence Center for Innovative Automotive Technologies was inaugurated this Wednesday in Budapest. The competence center will focus on the development of electric vehicle powertrains, with BME and Bosch experts working on the optimization of electric vehicles. In his speech, Deputy State Secretary for Innovation of […]

Vital Statistics in Hungary Still in the Negative

D&T
Mar 31, 2023

According to preliminary data, 6,526 children were born and 10,760 people died in February 2023. The number of births rose by 7.2%, while the number of deaths lessened by 14% and that of marriages by 45% compared to February 2022, the Central Statistical Office (KSH) reports. In February 2023, a total of 6,526 children were […]

Hungary May Face Further Delay in EU Fund Payments as Tug-of-War Continues

D&T
Mar 31, 2023

The Hungarian government initially pledged to complete the most important tasks needed to release the funds withheld by the European Union by March 31, this ultimately failed. Brussels is seeking clarification on several issues related to the judicial reform and Hungary has yet to tackle the conflict of interest rules in the Erasmus case. If […]

The György Ráth Villa Reopens with Family Programs

D&T
Mar 31, 2023

The Museum of Applied Arts (IMM) is reopening its exhibition space on the City Park Alley, the György Ráth Villa, with exhibitions and family programs on Saturday. It is a symbolic event that after the winter break, the György Ráth Villa, the former home of the first director general of the IMM, considered one of […]

ESSCA Budapest Celebrates 30th Anniversary in Hungary

D&T
Mar 30, 2023

ESSCA, regarded as one of the best business schools in the world, has launched a series of celebrations to commemorate its 30th anniversary with an exclusive two-day event at the Kraft Gallery on Andrássy avenue in Budapest. The higher education institution, which has been ranked in the Financial Times' list among the best management courses […]

Unique Entrepreneurship Development Program at MOME

D&T
Mar 30, 2023

The faculty of the Moholy-Nagy University of Art and Design (MOME) has developed a unique course in Central and Eastern Europe, the so-called Business to Design (B2D) educational program, which is specifically designed to meet the needs of the creative industry and to transfer a business approach to students, MOME told MTI on Thursday. The […]

Major Development in Tesco's Hungarian Stores

D&T
Mar 30, 2023

Tesco refurbished 25 of its stores in the 2022/23 financial year ending in February. The refurbishments have involved 12 hypermarkets and 13 convenience stores across Hungary to provide customers with a nicer shopping environment and workers with a more comfortable working environment. The HUF multi-billion improvements included optimizing the size and design of the stores' […]

Pensum Group's Revenue Up, Net Profit Down in 2022

D&T
Mar 30, 2023

Pensum Group Plc., a human resources services provider, saw its revenue rise by 40% to HUF 3.7 billion in 2022, while its profit after tax was HUF 33 million, a 57% year-on-year decline, the company told MTI on Thursday. According to the statement, revenue was also boosted by price increases implemented by the company as […]

Int'l Construction Industry Exhibition in Budapest

D&T
Mar 29, 2023

The 41st Construma International Building Trade Exhibition opened at the Hungexpo fair site in the Hungarian capital this Wednesday. More than 400 Hungarian and foreign exhibitors present their products and services at Hungexpo from March 29 to April 2. Speaking at the opening ceremony, State Secretary for Architecture at the Ministry of Construction and Transport, […]

Without Nature, There Is No Business

D&T
Mar 29, 2023

We are gradually depleting and losing our natural resources. The net-zero goals of governments and businesses, which cover 70% of the global economy, are unattainable without ending deforestation this decade and protecting marine life, which currently absorbs 30% of global carbon dioxide emissions. This was pointed out by the Executive Vice President of the World […]

UBM Group Reports Excellent Results

D&T
Mar 29, 2023

UBM Group, the largest animal feed manufacturer in Hungary, closed the first six months of the 2022/23 financial year with the best half-year in its nearly three-decade history. UBM, the only agro-industrial company listed on the Budapest Stock Exchange (BSE), generated sales revenue of HUF 122.67 billion and EBITDA of HUF 6.00 billion in the […]

Energy Saving Investments Planned by Hungarians

D&T
Mar 29, 2023

40% of Hungarian households are planning to invest in energy saving, with 10% more households planning to spend on energy efficiency upgrades in their homes since July last year, according to the latest representative research by Cofidis Hitel Monitor. The credit specialist company surveys domestic households' expectations regarding their financial situation on a quarterly basis. […]

National Bank Leaves Base Rate Unchanged at 13%

D&T
Mar 28, 2023

The Monetary Council of the National Bank of Hungary (MNB) kept the base rate at 13% at its meeting this Tuesday, arguing that the current level of the base rate is adequate to manage fundamental inflation risks. The O/N deposit rate and the O/N collateralised borrowing rate were left unchanged at 12.5% and 25%, respectively. […]

HUF 800 Mn Development at Caadex Ltd. with EU Funding

D&T
Mar 28, 2023

The Hungarian family-owned Caadex Ltd. in Mindszentgodisa, NE of Pécs in southern Hungary, has implemented a development worth almost HUF 800 million with the support of the European Union, the company has informed MTI. The company, which manufactures – and trades in – tin and steel products, has production halls in Mindszentgodisa and nearby Komló. […]

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