With a greenfield investment of around HUF 52 billion, GKN, one of the world's largest automotive suppliers, is creating 1500 jobs in Felsőzsolca. According to a statement by the Ministry of Foreign Affairs and Trade, the British-owned automotive parts manufacturer GKN Automotive Hungary Kft. said at a factory opening that the company will supply BMW, […]
The latest development at Sanofi's Csanyikvölgy plant has been inaugurated at a ceremony, resulting in an investment of almost HUF 8 billion to increase the production capacity of prefilled syringes by one and a half times. Some 19% of the investment costs are covered by Hungarian taxpayers through a government decision. Founded in 1973, Sanofi […]
In a significant development for Hungary's aviation industry, the Hungarian government has made a formal offer to purchase a controlling 51% stake in the company that operates Budapest's Liszt Ferenc International Airport, according to media reports. This move comes after years of speculation and attempts, and it marks a potential shift in ownership for Budapest […]
With an investment of around EUR 61.9 million, Samsung SDI is boosting its Hungarian R&D activities in Göd. As a result of the decision, the company is committing to create 25 R&D jobs, and it is the first company in Hungary to launch a battery technology training course at Óbuda University. Hungarian taxpayers cover close […]
Commsignia, a Budapest-based manufacturer of automotive communication devices, has raised USD 15 million in capital from Hungarian and foreign investors, the company told MTI on Wednesday. The fundraising was led by Hungarian PortfoLion Capital Partners and Day One Capital, as well as Finnish Inventure and British Inference Partners, with the participation of US-based Qualcomm Ventures, […]
In July 2023, the volume of industrial production dropped by 2.6% year-on-year. Based on working-day adjusted data, production declined by 2.5%. According to seasonally and working-day adjusted data, industrial output was 2.8% higher than in June 2023, the Central Statistical Office reports. The majority of the manufacturing subsections were involved in the decrease in industrial […]
Lear Corporation Hungary Ltd., the local subsidiary of the automotive multinational firm, announced the collective redundancies of more than 800 employees at a workers' meeting this week. Zsolt Kozma, president of the Lear Employees' Union, told reporters that the company announcement about the layoff means the closure of the wiring loop factory in Gödöllő, east […]
The "crisis situation caused by mass immigration" in Hungary, which was due to expire on September 7, has now been extended again by the government and will remain in place until at least March next year. The government has extended the "Government Decree 41/2016 (III. 9.) on the imposition of a crisis situation caused by […]
More than 7.5 tons of non-used mobile phones have been collected in the "Return it, Bro!" campaign, which has been running for more than five years, with the participation of 1,111 collection points, KÖVET Association for a Sustainable Economy told MTI on Wednesday. The total weight of mobile phones collected in spring 2023 is 1,524 […]
Hungarian mobile services provider Yettel has recorded a 54% increase in data traffic nationwide and a 35% increase in data traffic around Lake Balaton and Lake Velence, while roaming traffic in Croatia doubled this summer compared to last year, the operator told MTI on Wednesday. The busiest week of the summer on Yettel Hungary's mobile […]
In July 2023, the volume of sales in retail trade decreased by 7.7% according to raw data and by 7.6% when adjusted for calendar effects compared to the same period of the previous year. Calendar-adjusted sale volumes decreased by 4.1% in specialized and non-specialized food shops, by 5.5% in non-food retailing and by 20.5% in […]
More than 10,000 people have registered for this Sunday's 38th Wizz Air Budapest Half Marathon, which will also be the national championship for the 21,097-meter distance. The organizers Budapest Sportiroda said in a statement on Tuesday that 6,300 runners had signed up for the event's "king's race", the individual half marathon, with 1,170 of them […]
Premium tire manufacturer Hankook has published its ESG (Environmental Social Governance) report for 2022/23, in which the company reports on its sustainability measures and strategies for this year. As an assurance, the Science Based Targets Initiative (SBTi) has recognised Hankook's greenhouse gas reduction targets. These are expected to achieve zero emissions by 2050 based on […]
A strike by the Hollywood Screenwriters and Actors Guild (SAG-AFTRA) could have a major impact on the global film industry, but Hungarian studios producing foreign productions are "weathering the storm of Hollywood strikes", according to Variety.com. Variety reported in its article on the 80th Venice International Film Festival, which began last week, that the strike […]
According to the report OXO Technologies Holding Plc. published for the first half of 2023 on the website of the Budapest Stock Exchange, its business results show the successful management of the investment company, increasing profitability and dynamic growth of its assets under management. The technology holding company, which has been present on the domestic […]
