The Zalaegerszeg plant (in SW Hungary) of the French company Schneider Electric (SE) is modernizing production with a HUF 5.3 billion development, the workforce will be increased and the plant's gas heating will be replaced by a heat pump, the company's Zalaegerszeg plant manager said at an event on Wednesday to celebrate the plant's 30th […]
The Hungarian oil and gas company Mol has signed an agreement with BayWa AG to purchase the Szarvas Biogas Plant, a waste processing facility that uses organic waste to generate electricity and heat through cogeneration with a peak electrical capacity of about 4 megawatts in the eastern Hungarian town of Szarvas. According to the company, […]
German-owned Termelés-Logistic-Centrum Ltd. invested HUF 21 billion to set up a new production plant in Litér, Veszprém county, Hungary, with the purpose of revving up manufacturing of steel structural components of loading and lifting equipment. The project, for which Hungarian taxpayers cover over 10% of the investment costs, triggers the creation of 80 new jobs. […]
The Bosch Group's total net sales in Hungary amounted to HUF 2,255 billion last year, up 32% year-on-year, with an increase of 21% in euro terms, the company informed MTI. The statement said that the group's turnover in Hungary – sales from outside the group – rose 15% to HUF 314 billion. The Bosch Group […]
Backed by the Social Investment and Skills window of the InvestEU program, the European Investment Fund (EIF) has signed a guarantee agreement for EUR 53 million with Erste Group that is expected to unlock more than EUR 66 million for social entrepreneurs operating in Austria, the Czech Republic, Hungary, Romania and Slovakia. The transaction should […]
The Hungarian central bank kicked off a cautious monetary easing cycle while stressing its commitment to combatting inflation, which is the highest in Europe. Analyst expect policy makers to proceed gradually and halt rate cuts if the economic and financial backdrop deteriorates. The National Bank of Hungary cut interest rates this week, becoming the first […]
The 21st Balaton Wine and Fish Festival will be held in Balatonfüred on the Pentecost weekend, with children's day programs also taking place in the town located on the northern shore of the lake. As festival organizer Anett Kositzky told MTI, the four-day festival will offer a selection of Balaton wineries, artisanal cheeses and fish […]
The Gyula Pálinka Festival, which attracts tens of thousands of visitors every year and features 19 Hungarian commercial distilleries, will be held between May 26 and 28 this year in the southeastern Hungarian town of Gyula. According to Imre Bora, the head of the company organizing the event, the festival has become a cross-border event, […]
The ÉLETJEL Fire & Rescue Team has received a donation of HUF 1 million from Provident Financial Ltd. The check symbolizing the support was handed over by the company's Guardian Angels at a festive event combined with a round table discussion. The event was attended by one of the association's search dogs, Smile the dachshund […]
According to preliminary data by the Central Statistical Office (KSH) of Hungary, 6,352 children were born and 10,096 people died in April 2023. The number of births lessened by 2.7% that of deaths by 10% and marriages by 31% compared to April 2022. The current population of the country is estimated by KSH to be […]
Hydrogen associations from nine Central European and Baltic states have founded the 3 Seas Hydrogen Council. One of its main tasks will be to represent the sector before the European Commission and the European Parliament, the Hungarian Hydrogen Technology Association has informed MTI. The body brings together professional organizations from Poland, the Czech Republic, Estonia, […]
Uncertainty surrounding EU tenders has only slightly dampened the confidence of companies, with around half of them still considering it realistic to obtain such funding, K&H told MTI on Wednesday, based on the first quarter results of the Hungarian Micro, Small and Medium Enterprises (SME) Confidence Index. K&H has been compiling a quarterly SME confidence […]
Magyar Telekom, the leading Hungarian telecommunications service provider, has announces that as the next phase in its mobile network modernization program, from June 1, 2023, it increases its population-based outdoor 5G coverage to 60%. Magyar Telekom is continuing its multi-year mobile network modernization program this year, aiming to upgrade, maintain and improve service quality and […]
ALD Automotive has successfully completed the acquisition of 100% of LeasePlan, one of the world’s leading fleet management and mobility companies, from a consortium led by TDR Capital. This transformative acquisition represents a step-change which positions the combined group as the leading global sustainable mobility player with total fleet of 3.3 million vehicles managed worldwide. […]
15% of companies already use artificial intelligence solutions, and one in five is planning to introduce such software to increase efficiency, according to a survey of 197 companies published by profession.hu on Tuesday. 62% of respondents said they had never used an AI-based solution, while a quarter did not know if they had used one. […]
