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2023

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RÁBA Establishes Joint Venture with Turkish Partner

D&T
Dec 18, 2023

RÁBA Automotive Holding Plc. informed the participants of capital markets on the website of the Budapest Stock Exchange this Monday that "on October 31, 2023, it published an extraordinary announcement that on October 31, 2023, a Memorandum of Understanding was signed by RÁBA Plc., N7 Holding Zrt., an internationally significant Turkish defence company, Nurol Makina […]

UniCredit Plans Acquisitions in the Region

D&T
Dec 18, 2023

UniCredit CEO Andrea Orcel has confirmed that the Italian banking group is interested in acquisition opportunities, especially in Central and Eastern Europe, but will continue to take a disciplined approach, the financial portal portfolio.hu quotes Reuters news agency as saying. In an interview with the Frankfurter Allgemeine Zeitung (FAZ), Orcel said that “we are likely […]

A Lajos Tihanyi Masterpiece Sold for HUF 130 million

D&T
Dec 17, 2023

The work of Lajos Tihanyi, which has not been seen for 100 years, was bought for HUF 130 million and a painting by Lajos Gulácsy for HUF 140 million at the winter auction of the Judit Virág Gallery, the gallery's communications agency told MTI on Sunday. According to the statement, one of the most anticipated […]

BUX Index Rose on Rising Turnover This Week

D&T
Dec 17, 2023

The stock index of the Budapest Stock Exchange (BSE) rose this week, with the BUX 60 closing at 369.18 points on Friday, up 1,699.35 points or 2.90% from a week earlier, MTI reported Sunday morning, along with a brief analysis of the week. Weekly turnover on the stock market was HUF 84.86 billion, up from […]

HelloParks: Over 170,000 sqm of Development in 2023

D&T
Dec 16, 2023

HelloParks has handed over four new buildings covering 174,000 square meters this year, leasing more than 150,000 square meters of warehouse space in its warehouses in 2023, the industrial property developer, which is part of the Futureal Group, told MTI. Among the new buildings that have been handed over, MG3 is located in Maglód, FT6 […]

Hanon Systems Multiple Investments in Hungary

D&T
Dec 15, 2023

Leading Korean automotive thermal solution supplier Hanon Systems invests EUR 117 million to develop three of its sites in Hungary in Székesfehérvár, Pécs and Rétság. The projects promises to create 250 new jobs, whilst a large scale training program is also in the pipeline. Hanon Systems is one the only two full-line automotive thermal solution […]

German Automotive Supplier Increases Capacities

D&T
Dec 15, 2023

Germany-based technology group ZF invests EUR 62.5 million to implement two large-scale projects in Debrecen and Kecskemét, two automotive strongholds in Hungary. The investments that promise to create 313 new jobs are set to provide capacities to manufacture auto parts in the EV segment. Global technology group ZF is expanding its operations by setting up […]

EU unblocks frozen funds for Hungary amidst diplomatic tensions

D&T
Dec 15, 2023

In a last-minute move, the European Commission has unfrozen €10.2 billion in EU cohesion funds allocated for Hungary just a day before European leaders convene to discuss new aid to Ukraine and the commencement of accession negotiations for Kyiv. Ukraine’s acceptance into the bloc is a matter vehemently opposed by Hungarian Prime Minister Viktor Orbán. […]

The ibis & TRIBE Budapest Stadium Hotel Opens

D&T
Dec 14, 2023

The ibis & TRIBE Budapest Stadium Hotel has opened in Ferencváros, Budapest’s District 9, the first hotel in Hungary of TRIBE, one of the Accor Group's fastest growing European hotel brands. Under a management agreement between Accor Hospitality Group and WING Real Estate Development and Investment Group, the dual-branded TRIBE and ibis hotel is owned […]

Pizza Hut to Expand in Hungary Through Franchise System

D&T
Dec 14, 2023

The Pizza Hut fast-food chain plans to expand further in Hungary, opening new restaurants through franchise partners primarily in rural towns with a population of 30-50,000, the company told MTI on Thursday. The company opened its first franchised restaurant in Szeged in June 2023. Under the franchise system, AmRest, which operates Pizza Hut restaurants, will […]

Forest to be Regenerated through E.ON Development

D&T
Dec 13, 2023

The Buda Landscape Protection Area, also known as the ‘lungs of the capital’, crossed by the mountain ranges covered with native forests, and the backbone network built by the electricity firm E.ON in the 1970s and ‘80s, which provides electricity to the surrounding settlements, is seeing improvements that will make the grid almost invisible, removing […]

MNB Tests AI in Banks and Insurance Companies

D&T
Dec 13, 2023

The National Bank of Hungary (MNB) has for the first time carried out a thematic examination of the IT, privacy and other risks of artificial intelligence and machine learning used by banks and insurance companies, the supervision found no violations, but risks that need to be addressed, the MNB told MTI on Wednesday. According to […]

Nearly a Third of Domestic Firms to Increase Staff

D&T
Dec 12, 2023

In the first quarter of next year, 31% of domestic employers plan to expand their current workforce, while 21% expect to reduce it. Jobseekers can expect a brisk demand for labor in this period, especially in IT, financial and real estate companies, according to a labor market forecast published by Manpower Hungary on Tuesday. There […]

Erste Group Resinstates 100% Stake in Erste Bank Hungary

D&T
Dec 11, 2023

Erste Group Bank AG has repurchased EBRD's 15% stake in Erste Bank Hungary (EBH), making it the sole 100% shareholder of Erste Bank Hungary. In mid-November, it was announced that the European Bank for Reconstruction and Development (EBRD) would also return its 15% stake in Erste Group's Hungarian subsidiary to the Austrian banking group. The […]

2023 Hungarian Nobel Laureates Receive Prize in Stockholm

D&T
Dec 10, 2023

The two Hungarian scientists awarded the Nobel Prize this year, Katalin Karikó and Ferenc Krausz, received their prizes at a ceremony at the Royal Swedish Academy of Sciences in the Swedish capital, Stockholm this Sunday as December 10 is the anniversary of the death of Alfred Nobel, the founder of the prize. Hungarian-American biochemist Katalin […]

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