Many companies in Hungary are unaware that their activities may qualify as research and development (R&D) activities, which could qualify them for tax breaks or cash grants to boost their competitiveness, Deloitte said in a statement sent to MTI. R&D is based on some scientific or technical uncertainty, and is also a novel and methodical […]
The National Bank of Hungary (MNB) has cut its key lending rate by 1 percentage point to 16%, while leaving the base rate unchanged at 13%. The latter is expected to be lowered when the two converge. According to central bank vice-president Barnabás Virág, there are already signs of improvement in inflation, with a figure […]
For the fourth year in a row, the supermarket chain Lidl Hungary supports the Heim Pál Pediatric Institute in Budapest through its foundation: the company has now increased its related annual budget from HUF 78 million to almost HUF 100 million. Lidl Hungary told MTI on Tuesday that as part of its support program, in […]
The economic challenges intensified last year, but Hungary continued to catch up with the EU average, with GDP growth of 4.6%, the Hungarian Central Statistical Office (KSH) said in its publication ‘Hungary 2022’, MTI reports. According to the summary published on the KSH website on Tuesday, geopolitical tensions have worsened energy security, increased inflation and […]
The Hungarian road logistics company Waberer's has rejuvenated its fleet, reducing the average age of its tractor units in the international transport segment to under 2.5 years, the company told MTI on Tuesday. It was recalled that the Waberer's Group has set a target to reduce the average age of its fleet to between two […]
E.ON CEO Leonhard Birnbaum has taken the reins of Eurelectric, the trade body representing the European electricity industry in Brussels. Joined by Vice Presidents Markus Rauramo (CEO of Fortum) and Georgios Stassis (CEO of PPC), the new Presidency makes a strong call to put in place the necessary enablers for a radical ramp up of […]
Holcim Hungary Ltd.'s Open Day for stone mine visits in June was a great success with a record number of participants. The event gave visitors an insight into the daily life of the Bükkösd Quarry, the history and process of limestone extraction, and a first-hand look at the machinery used for extraction. According to a […]
A tourism and cultural visitor center showcasing the world heritage values of the Tokaj wine region has been built in Mád, Borsod-Abaúj-Zemplén county, with HUF 1.493 billion of EU funding, the Tokaj Wine Region Development Nonprofit Ltd. told MTI. The center will be located in the former fire station building in the village of Mád […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 50,083.93 points on Friday, up 763.23 points or 1.55% from a week earlier, MTI reported this Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 79.06 billion, up from HUF […]
This year’s MHB Bank Gourmet Festival in the Hungarian capital focused on a new generation of culinary professionals. One of them is Edina Makai, the sous chef of the Michelin-starred Budapest restaurant ‘Salt’. She tells Diplomacy&Trade how she ended up in fine dining – something that seemed quite remote many years ago when she studied […]
Barnabás Virág, Vice President of the National Bank of Hungary (MNB), spoke about the 4+1 factors determining the inflation process in Hungary in a podcast of the Hungarian Competition and Financial Markets Authority, infostart.hu reports. The world has been going through a serious inflationary wave since 2021, the vice-president of the National Bank of Hungary […]
Electricity consumption in Hungary continued to fall in May, continuing a negative trend for almost a year. For the first time, the monthly production of domestic solar parks was already higher than that of natural gas-fired power plants, portfolio.hu reports. In the last month of spring this year, total gross monthly consumption of the domestic […]
For the first time, Visa has awarded women-owned businesses in Hungary, with the five winners receiving HUF 2 million each and one-year mentoring, Visa told MTI on Friday. Visa's She's Next program provides financing, management and development assistance to women-owned businesses. Almost 400 businesses applied to the competition, which was launched in Hungary in March, […]
Magyar Telekom accounted for 2.4% of the turnover of the Hungarian online retail market in 2022, making it the sixth largest online player among Hungarian e-retailers with operations, the company told MTI on Friday, referring to a survey by the GKID analysis and consulting firm. According to the analysis, the growth rate of e-commerce in […]
A top Republican senator is blocking an arms deal between the US and Hungary over the latter’s delay of ratifying Sweden NATO accession. The move is testament to the continuous souring of relations between Washington and Budapest due to Hungary’s stance over the war in Ukraine. Senator James E. Risch, the top Republican on the […]
