The international credit rating agency S&P Global Ratings has affirmed its investment-grade rating of 'BBB minus/A-3' on Hungarian government debt obligations in foreign and local currency with long and short maturities. Two weeks ago, Fitch Ratings also affirmed Hungary's sovereign rating at 'BBB', also with a stable outlook. S&P explained its affirmation decision by stressing […]
The new Land Rover Defender is the modern reincarnation of the legendary off-roader that created the brand, the Land Rover Series I, inspired by American SUVs after World War II. The Defender, which has won a string of professional accolades, embodies the highest levels of performance, on-road and off-road capability and design. Ever since it […]
Among others, Kobo Town, Kommuna Lux, Gangar, Ti'Kaniki, Puuluup, Koza Mostra, Vinicio Capossela, Djely Tapa and Barrut will be among the world music acts on the Global Village stage at this year's Sziget Festival. From August 10 to 15, a wide range of genres and styles will line up, from Mexican cumbia punk to Celtic […]
Consumer prices were 20.1% higher on average in June 2023 than a year earlier, the Central Statisrtical Office (KSH) reports. According to a statement by the National Bank of Hungary (MNB), the 1.4% decrease compared to the prevous month was due to lower increase in the prices of food and industrial products. The highest price […]
The forint hit a losing streak this week, weakening to a two-month low against the euro, as investors got jittery over Hungary’s deteriorating finances and the central bank’s loosening monetary policy. Further interest rate cuts may add fuel to the fire, analysts warned. The Hungarian currency’s losses accelerated against the euro this week as markets […]
The oldest cultural relations organization in the world, British Council dates back 89 years and it has been continuously present in Hungary for six decades now. On this 60th anniversary, the recently appointed Country Director of British Council Hungary, Georgina Szilágyi tells Diplomacy&Trade about the organization’s role in the world, its activities in Hungary and […]
The MLS Raiffeisen Fifty-Fifty, driven by Márton Józsa, beat its own previous record – according to the official results list – with a time of 5:03:56 to win the 55th Kékszalag [‘Blue Ribbon’] Raiffeisen Grand Prix on Lake Balaton on Thursday. Fifty-Fifty, a Hungarian-designed twin-masted catamaran, broke the course record of 7 hours 13 minutes […]
Trans-Sped logistics company's new 5,100-square-meter warehouse complex is part of an agreement with the state that will see Trans-Sped set up six new logistics centers between 2017 and 2023, three in Debrecen, one each in Nagytarcsa, Környe and Tata. The total investment value is close to HUF 8 billion, creating 270 new jobs. The government […]
Start Garancia Plc. closed an outstanding financial year in 2022: its profit after tax increased to HUF 2.33 billion from HUF 452 million in 2021, while commission and fee income rose from nearly HUF 300 million to about HUF 3 billion, the company told MTI on Thursday. According to the statement, in order to ensure […]
Provident Financial Ltd. has been a leading player in the personal loan market in Hungary for more than two decades. The CEO of the company, Botond Szirmák, who has been at the helm of the company for 15 years now, tells Diplomacy&Trade about how important satisfied employees and customers for Provident are, their role in […]
The MOL Bubi public bicycle service has been ranked among the best in Europe by Belgian experts who recently visited the Hungarian capital, the Budapest Transport Center (BKK) told MTI on Wednesday. They said that the Belgians would like to develop a similar service in Brussels and were gathering experience in Budapest. They added that […]
The 2022 Municipality Survey by the European Investment Bank (EIB), covering 744 municipalities across the European Union, says 69% of municipalities lack experts with environmental and climate assessment skills, posing a serious problem for the implementation of local investment programs, including those in Hungary. This comprehensive survey provides unique insights into past and planned investments, […]
The British Chamber of Commerce in Hungary (BCCH) has a history of over three decades. Its Chairman, Duncan Graham, who was re-elected at the BCCH General Assembly this May for another two years as head of the organization, tells Diplomacy&Trade about how they managed to handle issues like Brexit, the pandemic or the Russian invasion […]
In May 2023, 1.3 million guests spent 3.1 million tourism nights at tourist accommodation establishments (commercial, private and other accommodation establishments) in Hungary, the Central Statistical Office reports. The number of guests was 7.1% and that of tourism nights 3.8% higher than a year earlier, due to expansions in international tourist arrivals and tourism nights. […]
GSK (formerly GlaxoSmithKline) Plc. is a British multinational biopharma company, one of the top pharma firms in the world. Its plant in Gödöllő, just east of Budapest, has been developed into a strategic actor in GSK’s global vaccine production. The histories of the founders of GSK date back well over a century (in fact, Glaxo's […]
