Over the past year (August 2022 to July 2023), an average of 30,000 users per month have used the MOL Bubi bicycle rental service in the Hungarian capital. Bubi 1.0 (the system operated between 2014 and 2020) had an average of 3,500 users per month, an increase of eight and a half times. "Wherever you […]
Alteo Group achieved consolidated revenues of HUF 58.8 billion in the first half of this year, up 55% compared to the same period last year, while its profit after tax increased by 10% to HUF 8.8 billion in the same period, the energy services and trading company announced on the website of the Budapest Stock […]
The Korean Cultural Festival in Budapest, starting on September 8, will showcase the diversity of Korean cultural heritage. The event will last for almost a month and will feature 12 programs and live broadcasts at four venues. The festival's series of concerts will showcase the many different facets of traditional Korean music, kugak, from the […]
The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 56,912.43 points on Friday, 1.21% 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 64.75 billion, up from HUF 53.54 billion the previous […]
Hungary is the 16th largest wine producer in the world, with 2.900 hectoliters produced in 2022. The Hungarian business news site Pénzcentrum investigated which countries are the biggest importers of Hungarian wine. According to the Hungarian Central Statistical Office (KSH), Hungary exported 136,492 tons of wine to other countries in 2022, a 25% increase compared […]
Even in the best case, only the figures of previous years can be produced, there is no substantial growth in the domestic craft beer market, the Association of Small Breweries said. In a year, the average price of spirits has risen by 19.6% nationwide. And this has obviously affected the turnover of domestic breweries, the […]
IKEA launched the ‘Shop & Go’ service in all three of its Budapest stores in August, allowing shoppers to scan the items in their shopping cart on their mobile phones using the IKEA app, and then scan the QR code to pay at the express checkout, according to a company statement published by the financial […]
As Hungary's economy faces headwinds, the government is preparing for a potential revision of its 2023 budget. The decision, which could have significant implications for the nation's fiscal strategy, will be made following the release of third-quarter economic data. The reassessment comes as the government acknowledges that its initial full-year growth projection has become increasingly […]
The E.ON Hungária Group handed over a renovated transformer station in Budapest's 11th district on Thursday, the HUF 3.4 billion investment will ensure the electricity supply of almost 29,000 residential customers. In its statement, E.ON Hungária recalled that the group announced in January this year that it would launch a multi-year network development program worth […]
The European Commission (EC) has approved ‘Borzag pálinka’ from Hungary as a new protected geographical indication (PGI). According to and EC statement, ‘Borzag pálinka’ is a brandy made from elderberries in the Nógrád region in N Hungary. It is characterized by sweet aromas (chocolate, fruit and honey), spicy notes and possibly herbaceous notes (mint, green […]
The load on the Hungarian electricity system rose to its highest level so far this summer on Monday as cooling demand surged due to the heatwave, the financial portal portfolio.hu reported. The system load, which indicates the instantaneous national electricity consumption, peaked at 6,264 MW around 20:30 on Monday the 21st, according to verified gross […]
Nearly half of medium-sized companies already take ESG (Environmental; Social; Governance) aspects into account when selecting suppliers, and more than a third of them already require data on this, according to a survey by the Makronóm Institute, MTI reported on Tuesday. ESG is a set of criteria that aims to ensure that the activities of […]
The Chinese company Jiecang Linear Motion Technology Co. Ltd., a leading provider of linear actuator products and solutions is to set up its largest European production site in Kaposvár, S Hungary. The plant is to start operations by the end of next year and it will also be the Chinese company's European logistics center, the […]
Tamás Ács has been appointed as the new Managing Director of Unilever Hungary and Adriatic Region, responsible for the markets of Croatia, Slovenia and Bosnia and Herzegovina, in addition to Hungary. Unilever said on Monday that this is the first time since 2015 that the company has a Hungarian managing director. Tamás Ács joined Unilever […]
The current account surplus increased by EUR 152 million to EUR 547 million in June from EUR 396 million in May, according to the latest preliminary data released by the National Bank of Hungary (MNB). Due to an increase of EUR 510 million in export receipts and EUR 110 million in import payments, the external […]
