In March, industrial production was 4.1% below the level of the corresponding month a year earlier, MTI reports based on data by the Hungarian Central Statistical Office (KSH). Adjusted for working day effects, production decreased by 4.0%, KSH confirmed in its second estimate on Friday. Production dropped in the majority of the manufacturing subsections, at […]

MOL Group delivered USD 714mn Clean CCS EBITDA in Q1 2023 (a 14% decrease compared to Q1 2022), despite regulatory headwinds and decreasing oil and gas prices, the Hungarian oil and gas conglomerate said this Friday morning, announcing its financial results for Q1 2023 on the website of the Budapest Stock Exchange. According to a […]

The interest rate cap on loans will remain in place until the key interest rate falls below 10%, and extra profit taxes may remain at least partially next year. The interest rate decision may cost the banking sector at least HUF 70 billion, and the special tax may cost the banking sector even more than […]

Since the country's largest wine festival first took place in Szeged, SE Hungary, in 1995, the largest number of exhibitors, 160, will be welcoming guests at the Szeged Wine Festival starting this Friday. As the managing director of Szeged Városkép és Piac Ltd., the organizer of the series of events, Attila Rácz told MTI, visitors […]

Up to EUR 50 million will be invested by Magna Metalforming GmbH to set up a new plant in Vecsés, southeast of Budapest, with the aim to produce structural bodywork items. The investment, which enjoys a 20% state support, is set to create 300 new jobs. Canada-based Magna International Inc. is a listed corporation that […]

As a result of the significant decline in the construction market and lower demand, the building insulation materials firm Masterplasts's revenue decreased by 27% compared to base in the first quarter. According to the company report published on the website of the Budapest Stock Exchange, in the sharply competitive market, Materplast was only able sell […]

Group revenue grew by 12.5% year-on-year in Q1 2023, thanks to continued strong demand for mobile data coupled with further increases in broadband revenues and higher system integration and IT revenues, the telecom service provider reported on the website of the Budapest Stock Exchange. Gross profit improved in line with revenue trends, growing by 13.1% […]

The Hungarian oil and gas company Mol, the airliner Wizz Air and Liszt Ferenc International Airport are testing a Sustainable Aviation Fuel (SAF) blend. The fuel was purchased by Mol from the Finnish company Neste. Wizz Air's flight to Paris took off on Wednesday filled with this fuel as part of the test. At the […]

Hungary’s OTP Group posted a better-than-expected consolidated profit after tax of HUF 194.7 billion in the first quarter, compared to a profit of HUF 115.1 billion in the previous quarter and a loss of HUF 33.4 billion a year earlier. OTP Bank Plc. announced on the Budapest Stock Exchange (BSE) website on Wednesday that the […]

As part of the Akvamarin project, Hungarian Natural Gas Storage Plc. has installed a 2.5 megawatt electrolysis system and associated hydrogen gas production technology at the Kardoskút underground gas storage facility in SE Hungary. The cost of the R&D project was HUF 5.6 billion, of which HUF 2.5 billion was provided by the state. The […]

Consumer prices in Hungary in April were on average 24.0% higher than a year earlier. Over the past year, household energy and food prices rose the most, MTI reported on Wednesday based on data from the country’s Central Statistical Office (KSH). Compared to April last year, food prices rose by 37.9%, with dairy products (63.5%), […]

One of the most important objectives of the Hungarian Interchurch Aid's domestic social assistance work is to create long-term opportunities. The organization wants to implement its opportunity-creation programs in as many of its institutions as possible, and mobility is a fundamental prerequisite for this. This is where Mercarius Fleet Management Ltd. and Porsche Hungaria Ltd. […]

Chinese battery cell manufacturer EVE Power will build a new production plant in Debrecen by investing more than EUR one billion of which a small portion, some EUR 35 million, will be paid for by Hungarian taxpayers through a government decision. The first such European facility of the company will supply BMW Group’s neighbouring iFactory […]

In the first quarter of the year, Erste Bank posted a profit after tax of HUF 6.3 billion, compared to a loss of HUF 1 billion a year earlier. The extra profit tax, the interest rate freeze and the extra payment due to the Sberbank bankruptcy amounted to HUF 38 billion, which together resulted in […]

According to the National Public Health Center (NNK), the number of people infected has been increasing week by week since January. In the first week of January, 33 new cases of scarlet fever were registered, 140 in February and almost 200 in March. In the first half of April, the number of infected people halved, […]