The stock index of the Budapest Stock Exchange (BSE) rose this week amid falling turnover, closing at 58,669.83 points on Friday, 658.84 points, 1.14% higher than a week earlier, MTI reported Sunday morning along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 36.65 billion, up from […]
The American credit rating agency Standard and Poor's has affirmed debt rating for Hungary as "BBB-/A-3' Ratings Affirmed; Outlook Stable." The agency projects the Hungarian real economy will expand by 2.6% in 2024 and average 2.8% growth in 2025-2026, after a mild full-year recession whereby real GDP contracted by 0.5% this year. These projections are […]
The state-owned energy group MVM is significantly expanding its portfolio of solar power plants, according to a transaction closed on December 7, when its renewable energy subsidiary MVM Green Generation Ltd. acquires the 100 MWe solar power plant in Kaposvár, Hungary, one of the largest photovoltaic power plants in Hungary, built and owned by CMC, […]
Hungarian Prime Minister Viktor Orbán vehemently opposed the inclusion of Ukraine's accession talks in the upcoming European Council summit on December 14-15, potentially derailing a decision that could shape Ukraine's European future. Orbán's objections introduce an element of uncertainty to Ukraine's aspirations and the broader dynamics of EU decision-making. Hungarian premier Viktor Orbán took to […]
The recently appointed Managing Director of Porsche Hungaria (PH), Tamás Wachtler expects an increase in sales of its brands next year. This, he says, will further strengthen the company's share of the Hungarian new car market, which already exceeds 20%. At a press conference in Budapest on Thursday, Tamás Wachtler said that this is partly […]
In 2022, the expansion of BUD Cargo City, which was opened three and a half years ago and features a 32,000 square metre cargo handling and forwarder building and its own apron, began. In addition, Budapest Airport, the international airport of the Hungarian capital, is continuing to develop its passenger areas. René Droese, Deputy Chief […]
A nearly 200-year-old bottled rarity arrives at the Michelin-plate recommended restaurant Avalon Park in Miskolctapolca, NE Hungary. The auction of 40 bottles of Scotch whisky, dubbed the oldest in the world and discovered by accident, ended on December 5. Avalon Ristorante won bottle number 8 in the auction - for a record GBP 18,000, the […]
In the framework of a press conference in the FELIX Kitchen & Bar this Wednesday, Tamás Günzer from the Villány wine region was announced as the winner of the ‘Winemaker of the Year in Hungary 2023" award. The title, administered by the Hungarian Wine Academy, is the most prestigious Hungarian recognition for Hungarian winemakers. The […]
The National Bank of Hungary (MNB) has issued a recommendation to Hungarian-based insurers on climate change and environmental risks and on how to integrate environmental sustainability considerations into their operations. The recommendation is aimed at helping insurers to take environmental factors into account and to help them to make the transition to sustainable operations and […]
The managers of German companies operating in Hungary are more pessimistic than recent economic indicators would justify - this was the title of a survey presented by the German-Hungarian Chamber of Industry and Commerce, hvg.hu reports. The survey revealed that business leaders put the vision of the Hungarian economy at -40 on a scale of […]
Japanese-owned TDK Hungary Components Ltd. installs a new solar and heat pump system in the value of HUF 3.4 billion, which essentially enables the company to disconnect from the natural gas grid. The investment will be implemented from the company’s own funds and the incentives available under the Hungarian government’s Factory Rescue Program. TDK Hungary […]
At the end of 2023 Q3, the credit institution sector consisted of ten banking groups, eight solo credit institutions, two financial enterprises subject to prudential regulation affecting credit institutions, as well as nine branches. The decrease in the number of institutions included in the publication was caused by the consolidation of a single domestic credit […]
As the most magical time of the year arrives, the elegant and stunning halls of Budapest's premier luxury hotel, Matild Palace, come alive with a plethora of lavish programs and enticing offers. This year, the historic palace bids farewell to the year in a splendid circus-themed spectacle. Spago Budapest, Matild Café & Cabaret, and The […]
The joint venture between LG of South Korea and Magna of Canada is building its first European factory in Miskolc., MTI reports. The HUF 20 billion investment - over 30% of which is covered by Hungarian taxpayers in the form of non-refundable state subsidy - is expected to create more than 200 new jobs in […]
CE Glass Plc., a manufacturer of insulating and safety glass, has upgraded its production capacity at its plant in Szatymaz, on the outskirts of Szeged, SE Hungary, with the help of EU funding and an investment of HUF half a billion, the company informed MTI. According to the press release, the investment, which was implemented […]
